"How does Facebook make money in this world? I mean, is there an...

"How does Facebook make money in this world? I mean, is there an app store fee? You’re proposing to spend over time, hundreds of billions of dollars, where does that return on investment come from?"

MZ: "I think at the end of the day, there’s going to be commerce, and I think commerce and ads are kind of closely related, because if there’s not any commerce, then there’s not much for people to advertise for. I think the first job that we need — well, I guess the first job is getting the foundational technology to work. Then after that, our next goal from a business perspective is increasing the GDP of the metaverse as much as possible, because that way you can have, and hopefully by the end of the decade, hundreds of billions of dollars of digital commerce and digital goods and digital clothing and experiences and all of that. And I think the best way to increase the GDP of the metaverse is to have the fees be as low as possible and as favorable as possible to creators.I know this is a very different approach that we’re taking than what the mobile platforms today have taken. It’s much more similar to the approach that we’ve taken with our apps, right? Where the apps have been free, our ad auction gives every advertiser the lowest price that we can. For when we build commerce tools, we generally offer them either at no cost or at cost to us. And then the idea is you build as big of an ecosystem as possible, and then some things have to be scarce, right? So, whether that’s people searching for something at an app store or a limited number of ad units and a feed, and then you basically have a markets set the pricing there.That’s basically the approach that I want us to take in the metaverse too, which is we’re going to build devices and we’re either going to subsidize them or offer them at cost. We’re going to make the app store model, I think, dramatically more open than anything that you’ve seen on mobile today, where we already do side-loading on Quest and we do App Lab and we do Link so you can have stuff running on your PC, and we’ll keep on doing that because I think the choice for consumers is important and for developers, and we’re going to try to make it so that the commerce tools that we build have as low fees as possible.At the end of the day, I think that there are going to be some things that are scarce around attention, maybe when you’re searching for something in the app store or a billboard and when you’re in the metaverse. In those things, I think when the volume gets to be big, that’ll be a meaningful business for us. We’re certainly willing to invest dramatically ahead of the business opportunity in order to help create and sort of enable this whole ecosystem."