Facebook (now known as Meta) is attempting to revolutionize the way we type in virtual and augmented reality by turning any flat surface into a virtual keyboard. Mark Zuckerberg continues to cling to his version of the metaverse despite the concept’s failure to take off with users.
Reality Labs, the division of Facebook (now known as Meta) spearheading the development of virtual and augmented reality technologies for the metaverse, has reported a staggering loss of $3.7 billion in the second quarter, bringing its total losses to over $21 billion since the start of the previous year.
Facebook employees, disgruntled after a long year of layoffs and sluggish growth, are speaking unguardedly about the systemic failures at the company and among its top management.
Facebook’s first-quarter earnings report for 2023 showcased a surge in users and revenue, despite its Reality Labs metaverse unit continuing to struggle with significant losses. The Company’s metaverse division suffered losses of $3.99 billion on revenues of just $339 million.
Now you see it, now you don’t. Disney is eliminating its entire metaverse division as part of the impending mass layoffs destined to impact as many as 7,000 employees, a report Monday claims.
Facebook (now known as Meta) plans to lay off another 10,000 workers in a bid to improve its financial performance. This is Zuckerberg’s second wave of layoffs following November’s cut of 11,000 jobs as part of his “year of efficiency” at the internet giant.
Proving that Mark Zuckerberg’s ominous “year of efficiency” is more than a catchphrase, Facebook is reportedly planning more job cuts, following the 11,000 employees laid off late last year.
The creator of a virtual “sexy Metaverse 3D model” named Mamia Orio has been paid over $100,000 per year by selling digital sex services, according to a report from a local Fox Now affiliate in Houston, Texas.
U.S. Representatives Ken Buck (R-CO) and David Cicilline (D-RI) today sent a letter to Facebook CEO Mark Zuckerberg inquiring whether it’s a good idea to allow users as young as 13 on its Horizon Worlds metaverse platform, arguing Facebook has harmed youth mental health in the past.
Facebook (now known as Meta) is delaying setting team budgets as it plans for yet another round of job cuts according to reports. Mark Zuckerberg seems to be taking his “year of efficiency” claims quite seriously.
The National Football League (NFL) announced the Saweetie Super Bowl Concert, a virtual concert in the video game Roblox, in a press release Thursday.
Facebook (now known as Meta) released its fourth-quarter results on Wednesday, and Wall Street is loving what Mark Zuckerberg has to say despite a significant miss in earnings for the quarter. Although the company suffered its third consecutive quarter of declining revenue and missed its profit target by a considerable margin, Zuckerberg is trumpeting 2023 as the “year of efficiency,” and Facebook shares have jumped almost 20 percent in response.
Yuval Noah Harari said humanity may need to “relearn how to see and walk” in a virtual reality future divorcing people from a physical world.
A party hosted by the EU Foreign Aid department on its own proprietary “metaverse” that cost around ~$400,000 to build reportedly flopped on Tuesday, with almost no one attending.
Facebook (now known as Meta) reported a second straight quarterly revenue decline, with its stock plummeting an astonishing 22 percent in morning trading after already losing two-thirds of its value this year so far.
Brad Gerstner, the founder and CEO of Altimeter Capital, critiqued Facebook (now known as Meta) CEO Mark Zuckerberg’s depth of focus on building its metaverse in an open letter published this week.
Mark Zuckerberg’s private jet emits 17 times more carbon emissions in two months than the average American does in a year, according to flight tracking data.
Financial analysts believe that Facebook (now known as Meta) CEO Mark Zuckerberg has changed the name of his company because “he doesn’t think his core business that he built 15 years ago is actually a business anymore.”
Employees of Facebook (now known as Meta) mockingly refer to some of the company’s metaverse projects as “make Mark happy” — referring to CEO Mark Zuckerberg and his shifting priorities.
Facebook (now known as Meta), has a virtual reality social network called Horizon Worlds, but it is plagued with quality issues, and the employees who are building the “metaverse” app are barely using it, an executive says.
While Facebook CEO Mark Zuckerberg has been funneling billions into developing his digital metaverse, Apple CEO Tim Cook maintains that the average person still can’t even define what the metaverse is.
In a recent article, Coindesk outlines the apparent slow downfall of Facebook CEO Mark Zuckerberg’s digital metaverse concept. Despite widespread criticism of the metaverse from the tech world, Zuckerberg remains completely obsessed with his virtual world.
Facebook CEO Mark Zuckerberg recently appeared on the popular Joe Rogan Experience podcast where he attempted to tout the benefits of his Metaverse obsession, but many remain unconvinced.
Vivek Sharma, Facebook’s Vice President of Horizon, its digital metaverse product, is reportedly leaving the company at a key time as the Masters of the Universe attempt to make Zuckerberg’s digital realm a reality.
Facebook CEO Mark Zuckerberg recently shared a screenshot of his digital avatar inside the metaverse. Following intense ridicule, Zuckerberg quickly announced a metaverse graphics update and shared photos of a new version of his avatar.
Mark Cuban, the billionaire Dallas Mavericks owner and crypto enthusiast, has been extremely critical of cryptocurrency projects in recent months, calling digital land in the metaverse “the dumbest shit ever.” Cuban is an investor in Yuga Labs, which recently made $317 million in metaverse land sales.
Legendary programmer John Carmack, co-founder of id Software of Doom fame and consulting CTO to Facebook’s Oculus VR, said it would be a “positive thing” to build a virtual reality world “where people want to go back into their headset.” Carmack ominously compared VR to the rise of the internet, saying: “I do think it’s going to be kind the way the web slowly took over, where you’re the frog in the pot of water that’s slowly heating up.”
Following a poor recent earnings report, Match Group has announced plans to scale back Tinder’s metaverse dating program.
According to a recent report, volunteers who spent a week working in a virtual-reality environment similar to the metaverse proposed by Mark Zuckerberg’s Facebook reported more anxiety, lower productivity, and suffering from migraines.
In a new book, AI expert Catriona Campbell suggests that it won’t be long before people begin to raise virtual children in the Metaverse as the cost of child-rearing rises. What seems like a nightmare scenario to some is a positive to the author, who says that virtual children “could help us solve some of today’s most pressing issues, including overpopulation.”
Prompted by fears of “overpopulation” problems, one leading expert on AI believes that coming generations will embrace fake AI “Tamagotchi children” instead of real offspring.
In a recent interview, Epic Games CEO Tim Sweeney commented on the future of the Metaverse, stating that he’s not sure Facebook CEO Mark Zuckerberg’s vision for a digital world will work. Sweeney stated: “I think if you strip the entertainment aspect from it, you end up with a super creepy version of America Online chat rooms!”
Facebook CEO Mark Zuckerberg’s digital Metaverse is set to lose “significant” amounts of money for the next three to five years according to statements at a recent shareholder meeting. The announcement comes as Facebook faces significant headwinds, including a recently announced hiring freeze across multiple divisions.
The creator of the Apple iPod has warned that the newly developing online metaverse runs the risk of damaging human social interactions and creating additional toxicity online. Tony Fadell says “we don’t need more technology between us.”
Facebook (now known as Meta) recently warned its Reality Labs VR development division to prepare for cutbacks, which could be a huge blow to the company’s Metaverse ambitions.
In a recent interview, Snap CEO Evan Spiegel criticized Mark Zuckerberg’s Metaverse as “ambiguous and hypothetical.” According to Spiegel, “people really enjoy spending time together in reality.”
According to recent reports, Facebook CEO Mark Zuckerberg’s obsession with a digital “metaverse” is becoming a major point of concern and frustration for many employees. According to one former high-level manager, it’s “the only thing Mark wants to talk about.”
Facebook reportedly plans to take an almost 50 percent cut of all virtual asset sales in its “Metaverse” digital universe. Mark Zuckerberg and the Masters of the Universe stand to make a fortune if trading NFTs takes off in what he touts as the future of the internet.
While Facebook has hyped the creation of a digital “metaverse,” it has failed to define exactly what it is or how it will create a viable metaverse product — instead, Mark Zuckerberg uses the buzzword to distract from his platform’s many issues.
A Japanese startup firm has reportedly developed a wristband that can deliver electric shocks to its wearer so you can experience pain in the metaverse.