Newsbreak 7 months ago in Around The World, Facebook, Job Cuts, Layoffs, Mark Zuckerberg, Meta, Metaverse, News, Reality Labs, Tech Insider, Tech layoffs 0 Category: Reality Labs
Not even Mark Zuckerberg’s beloved metaverse projects are safe from Meta’s sweeping layoffs
Newsbreak 7 months ago in Around The World, Facebook, Job Cuts, Layoffs, Mark Zuckerberg, Meta, Metaverse, News, Reality Labs, Tech Insider, Tech layoffs 0 Mark Zuckerberg stated he was conducting an intensive evaluation of Meta’s infrastructure spending. Sven Hoppe/Getty Images Meta has introduced sweeping layoffs throughout the entire firm, together with its metaverse division. As of April there have been greater than 10,000 individuals engaged on its metaverse projects. Meta has pumped billions of {dollars} into its Reality Labs division, resulting in large losses. Mark Zuckerberg has announced sweeping…
Meta has pumped $36 billion into its metaverse and VR businesses since 2019. These 4 charts show the scale of...
Newsbreak 7 months ago in Around The World, facebook earnings, Mark Zuckerberg, Markets, Meta, Meta earnings, Metaverse, News, Reality Labs, Tech Insider 0 (*4*)Meta CEO Mark Zuckerberg. AP Photo/Mark Lennihan Meta has pumped $36 billion into its Reality Labs division since 2019, an Insider evaluation discovered. The division, comprising Meta’s metaverse and VR businesses, made a $30.7 billion working loss over the identical interval. These 4 charts show the huge scale of Meta CEO Mark Zuckerberg’s massive metaverse wager. At the route of CEO Mark Zuckerberg, Meta has…
The memes that relentlessly mocked Mark Zuckerberg’s metaverse avatar seem to have struck a nerve with the CEO
Newsbreak 7 months ago in Around The World, Facebook, investor, Mark Zuckerberg, Meta, Metaverse, News, Reality Labs, Tech Insider 0 Zuckerberg shared an updated metaverse avatar image after being widely mocked for a previous version. Mark Zuckerberg Mark Zuckerberg seems to have taken the memes that mocked his metaverse avatar to heart. The Meta CEO referenced the memes on a call with investors on Wednesday. He said the company was doing “leading work” in reference to products and platforms it was building. Mark Zuckerberg seems…
Meta CEO Mark Zuckerberg knows his metaverse pivot isn’t popular with everyone, but said ‘people are going to look back...
Newsbreak 7 months ago in Altimeter Capital, Around The World, Augmented reality, Facebook, Horizon Worlds, Instagram, Mark Zuckerberg, Meta, Metaverse, oculus, Reality Labs, Stock, Tech Insider, Virtual reality 0 Mark Zuckerberg at Facebook’s first ever Meta Store Facebook/Meta Mark Zuckerberg took a shot at those who doubt his metaverse investment. “People are going to look back decades from now” and discuss the project’s importance, he said. Meta has reported nearly $20 billion in losses since last year from to its metaverse project, more than the GDP of many countries. Meta CEO Mark Zuckerberg took…
Mark Zuckerberg vows to spend billions more on the metaverse next year despite burning a whopping $4 billion on it...
Newsbreak 7 months ago in Around The World, Earnings, Expenses, Facebook, Guidance, Instagram, Mark Zuckerberg, Meta, Metaverse, R&D, Reality Labs, Revenues, Tech Insider 0 Mark Zuckerberg as an avatar during Connect 2022 Facebook/Meta Meta said it might accelerate spending by 15% next year. Meta currently faces a number of headwinds, including a potential recession and a slowdown in the advertising market. The decision comes just days after a prominent tech investor wrote an open letter urging Mark Zuckerberg to curb spending. Meta told investors it plans to ramp up…
Facebook and Mark Zuckerberg just raised a giant middle finger to Wall Street. The company says its metaverse business will...
Newsbreak 7 months ago in Around The World, Earnings, Facebook, Mark Zuckerberg, Meta, Metaverse, Reality Labs, Tech Insider 0 Mark Zuckerberg as an avatar during Connect 2022 Facebook/Meta Facebook warned that its Reality Labs metaverse business will lose even more money in 2023. This year, the company is on track to burn through more than $10 billion on this endeavor. Shares of the company slumped 13% to their lowest level since 2017. Facebook is not backing away from spending big on building the metaverse,…
At least one big investor is calling for Mark Zuckerberg to throw in the towel on the metaverse, saying Meta...
Newsbreak 7 months ago in Altimeter Capital, Around The World, brad gerstner, Facebook, Instagram, investor, Losses, Mark Zuckerberg, Meta, Metaverse, oculus, Reality Labs, Tech, Tech Insider 0 Facebook/Meta Mark Zuckerberg’s multi-billion dollar metaverse investment has drawn ire from at least one prominent tech investor. Brad Gerstner from Altimeter Capital published an open letter, telling Meta it has “lost the confidence of investors.” Gerstner suggested layoffs and limiting the company’s metaverse investment for Meta to regain “focus.” Mark Zuckerberg continues to lose support in his massive pivot to the metaverse. At least one…