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The Latest Breaking News from Reality Labs

Meta just laid off a bunch of employees right before its big VR showcase

The final wave of planned Meta layoffs has displaced an estimated 5,000 employees from the company just a week before Meta's big VR gaming showcase is to take place.

Android Central

Just thinking about using my Meta Quest Pro in a car makes me want to hurl

Meta's Reality Labs and BMW have teamed up to bring VR to your car, and I don't know if I love or hate it.

TechRadar

Will Shares of Meta Platforms Continue to Soar?

Explore the potential growth of Meta stock and learn what factors could drive its value higher in the ever-evolving world of tech and social media.

Barchart

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7 things you could buy with the $30B Meta has lost to VR and AR research

Is Twitter discounted yet?

PC Gamer

This Week in the Metaverse: Zuckerberg tries to reconcile A.I. with the billions he’s already sunk into the metaverse

Meta’s metaverse division, Reality Labs, lost nearly $4 billion in the first quarter—a billion dollars more than it lost in the same period last year.

Fortune

Meta Platforms’ VR Workers Making An Unusual Salary Reported By The Washington Post

The Facebook parent company has been hiring the best quality of talent to stay ahead of its competition in the metaverse.

Zenger

Meta confirms Oculus Quest 3 will be affordable, but its VR business is on thin ice

The Oculus Quest 3 will be available at an "accessible" price according to Mark Zuckerberg, but how much longer can its VR losses continue?

TechRadar

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Meta promises next-gen Quest VR headset coming at price 'accessible for lots of people'

But Reality Labs is costing Meta over one billion dollars a month and expected to increase more as the year progresses.

PC Gamer

Meta's 'Year of Efficiency' is already starting to pay off

Meta reported its Q1 2023 financial earnings for the January-March period. The company saw more than $28 billion in revenue, following major layoffs and restructuring.

Android Central

Meta employee accuses Mark Zuckerberg of shattering the 'morale and confidence in leadership of many high performers'

Meta’s first set of layoffs came in November 2022. After this week’s cuts, employees took to internal channels to point out the impact on morale.

Fortune

Meta finally realizes the Quest is for gaming, not for the Metaverse

Meta might be laying off more people across the company but its gaming divisions are said to be safe from the turmoil.

Android Central

Mark Zuckerberg Delivers Very Bad News

Meta Platforms, the billionaire's social media empire, will reportedly cut thousands more jobs.

The Street

Mark Zuckerberg Is About to Deliver Very Bad News

Meta Platforms, the billionaire's social media empire, will reportedly cut thousands more jobs.

The Street

Three of Meta’s top execs—including Mark Zuckerberg—are now spending most of their time on A.I.

The company behind Facebook and Instagram has no plans to sign the proposal to temporarily ban the development of advanced A.I., the Reality Labs chief confirmed.

Fortune

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Fortune

Tech companies have been pouring billions into VR tech that teens don't really care about

Only 4% of teens use VR devices daily, according to a new survey, but companies like Facebook parent Meta continue to pump money into the tech.

The Street

Mark Zuckerberg Quietly Buries the Metaverse

The CEO of social-media giant Meta has sworn by AI, popularized by the chatbot ChatGPT.

Fortune

Mark Zuckerberg and Wall Street are finally meeting in the middle on the metaverse

The Meta chief executive satisfied investors Wednesday by pledging to trim costs, but he’s still all-in on Reality Labs.

Fortune

Meta's Reality Labs lost $13.7 billion in 2022—and just reported its worst quarter ever

CEO Mark Zuckerberg said the metaverse remains one of the company's top priorities.

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The Guardian - UK

Thursday briefing: Mark Zuckerberg’s Meta cuts 11,000 jobs – is the Facebook founder’s empire falling?

In today’s newsletter: The social media titan is having its first major wave of layoffs since it began in 2004 – and it’s not the only tech company facing problems.

The Guardian - UK

Why Mark Zuckerberg had to announce 11,000 job cuts at Meta

Company thought rise in online activity would last, rivals stole its users, and metaverse was too uncertain for shareholders

Fortune

Disney is still on track for streaming profitability—but a storybook ending isn’t guaranteed

The worsening economy and sky-high losses add to concerns about Disney’s ability to make money off streaming.

The Street

'I'm Especially Sorry' Apologizes Mark Zuckerberg

The CEO of Meta Platforms offers a mea culpa after long months of stubbornly pursuing a strategy rejected by investors.

The Street

Meta To Slash 11,000 Jobs In First Big Downsizing At Facebook Parent As Metaverse Losses Mount

"I want to take accountability for these decisions and for how we got here," said CEO Mark Zuckerberg.

Fortune

Want social media companies to step up their election game? Give them a financial reason

Researchers are sounding alarms about disinformation ahead of Tuesday’s midterms, but social media consumers are voting with their eyes.

Fortune

Meta is reportedly preparing mass layoffs. Why anti-metaverse investors might be disappointed

The Facebook and Instagram can cut costs without undermining its core metaverse ambitions.

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