Meta's investment in the metaverse, once a bold ambition of CEO Mark Zuckerberg, has turned into a costly endeavor facing massive losses and layoffs. The Reality Labs division has lost nearly $70 billion, with over 100 employees recently laid off to restructure for efficiency. Despite some successes with Ray-Ban smart glasses, the Quest VR headsets are struggling in terms of sales, reflecting a lack of consumer interest. Once envisioned as vibrant virtual workplaces, these platforms have become lifeless, prompting Zuckerberg to reassess the tech's future.
Despite once being a cornerstone of Zuckerberg's vision, Meta's metaverse ambitions have faced significant setbacks, leading to billions lost and ongoing layoffs within Reality Labs.
Zuckerberg's dream of an engaging metaverse is faltering as Meta experiences significant losses, declining VR headset sales, and layoffs while striving to refine mixed reality experiences.
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