{"id":8207,"date":"2022-12-07T06:39:57","date_gmt":"2022-12-07T05:39:57","guid":{"rendered":"https:\/\/costops.com\/index.php\/2022\/12\/07\/the-metaverse-will-be-our-slow-death-is-facebook-losing-its-100bn-gamble-on-virtual-reality\/"},"modified":"2022-12-07T06:39:57","modified_gmt":"2022-12-07T05:39:57","slug":"the-metaverse-will-be-our-slow-death-is-facebook-losing-its-100bn-gamble-on-virtual-reality","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2022\/12\/07\/the-metaverse-will-be-our-slow-death-is-facebook-losing-its-100bn-gamble-on-virtual-reality\/","title":{"rendered":"\u2018The metaverse will be our slow death!\u2019 Is Facebook losing its $100bn gamble on virtual reality?"},"content":{"rendered":"

The company now known as Meta has spent staggering amounts on creating an immersive successor to the traditional 2D internet. But what has it got to show for it, apart from 11,000 job losses?<\/p>\n

What a difference a year makes. Last October, Facebook supremo Mark Zuckerberg could barely wait to show the world what he was up to. \u201cToday, we\u2019re going to talk about the metaverse,\u201d he enthused in a slick video presentation. \u201cI want to share what we imagine is possible.\u201d Transitioning almost seamlessly from his real self into a computer-generated avatar, Zuckerberg guided us through his vision for the virtual-reality future: playing poker in space with your buddies; sharing cool stuff; having work meetings and birthday parties with people on the other side of the world; customising your avatar (the avatars had no legs, which was weird). Zuckerberg was so all-in on the metaverse, he even rechristened his company Meta.<\/p>\n

This month, we saw a more subdued Zuckerberg on display: \u201cI wanna say upfront that I take full responsibility for this decision,\u201d he told employees morosely. \u201cThis was ultimately my call and it was one of the hardest calls that I\u2019ve had to make in the 18 years of running the company.\u201d Meta was laying off 11,000 people \u2013 13% of its workforce. Poor third-quarter results had seen Meta\u2019s share price drop by 25%, wiping $80bn off the company\u2019s value. Reality Labs, Meta\u2019s metaverse division, had lost $3.7bn in the past three months, with worse expected to come. It wasn\u2019t all bad news, though: Zuckerberg announced last month that Meta avatars would at last be getting legs.<\/p>\n

Continue reading…<\/a>
\nThe company now known as Meta has spent staggering amounts on creating an immersive successor to the traditional 2D internet. But what has it got to show for it, apart from 11,000 job losses?
\nWhat a difference a year makes. Last October, Facebook supremo Mark Zuckerberg could barely wait to show the world what he was up to. \u201cToday, we\u2019re going to talk about the metaverse,\u201d he enthused in a slick video presentation. \u201cI want to share what we imagine is possible.\u201d Transitioning almost seamlessly from his real self into a computer-generated avatar, Zuckerberg guided us through his vision for the virtual-reality future: playing poker in space with your buddies; sharing cool stuff; having work meetings and birthday parties with people on the other side of the world; customising your avatar (the avatars had no legs, which was weird). Zuckerberg was so all-in on the metaverse, he even rechristened his company Meta.
\nThis month, we saw a more subdued Zuckerberg on display: \u201cI wanna say upfront that I take full responsibility for this decision,\u201d he told employees morosely. \u201cThis was ultimately my call and it was one of the hardest calls that I\u2019ve had to make in the 18 years of running the company.\u201d Meta was laying off 11,000 people \u2013 13% of its workforce. Poor third-quarter results had seen Meta\u2019s share price drop by 25%, wiping $80bn off the company\u2019s value. Reality Labs, Meta\u2019s metaverse division, had lost $3.7bn in the past three months, with worse expected to come. It wasn\u2019t all bad news, though: Zuckerberg announced last month that Meta avatars would at last be getting legs. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

The company now known as Meta has spent staggering amounts on creating an immersive successor to the traditional 2D internet. But what has it got to show for it, apart from 11,000 job losses? What a difference a year makes. Last October, Facebook supremo Mark Zuckerberg could barely wait to show the world what he …<\/p>\n

\u2018The metaverse will be our slow death!\u2019 Is Facebook losing its $100bn gamble on virtual reality?<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":8208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8207"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=8207"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/8208"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=8207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=8207"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=8207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}