Facebook Wants to Escape Into the Metaverse

Facebook is facing significant challenges due to scandals and criticism. Despite this, the company announced plans to hire 10,000 people in the EU to develop the Metaverse, a virtual reality version of the Internet. CEO Mark Zuckerberg is a prominent advocate for the Metaverse, which aims to merge the physical and digital worlds. The announcement comes amid calls for regulation and scrutiny over Facebook's influence.

What is the significance of the term 'Metaverse' in the context of Facebook's future plans?

What challenges is Facebook currently facing as it develops the Metaverse?