Why ServiceNow’s CEO is bullish on Zuck’s metaverse

ServiceNow CEO (NOW) Bill McDermott has seen a few tech investing cycles in his career, and he’s confident that Mark Zuckerberg’s metaverse has a place in the future of living.

“I think there’s a real place in the world for the metaverse,” McDermott said on Yahoo Finance Live (video above). “It is real. But even if you do spend time in the metaverse, you always have to come back down to Earth, where the real people live, and actually execute your business plan.”

McDermott, who formerly served as the longtime CEO of SAP, explained that the metaverse will be helpful in driving consumer and enterprise spending.

“You’re always going to see this interdependency between a metaverse world and the real world, where business takes place,” McDermott added. “And that’s where we come in. We play both places.”

At present, investors do not share McDermott’s passion for the metaverse.

Meta (META) stock crashed 22% on Thursday as the Facebook and Instagram owner continued to spend aggressively to build…

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This article was written by and originally published on finance.yahoo.com