After reports from outlets like Bloomberg, The New York Times, The Wall Street Journal, and Business Insider suggested that Meta is “considering” a cut “as high as 30%” for its “metaverse” teams, Meta issued an official statement confirming “shifting some of our investment from Metaverse toward AI glasses and Wearables”.
“Within our overall Reality Labs portfolio we are shifting some of our investment from Metaverse toward AI glasses and Wearables given the momentum there,” the official statement read. “We aren’t planning any broader changes than that.”
@MyOpinion@lemmy.today Yeah the correct takeaway isn’t that it’s dead. Firstly because even though they’re definitely by far the most significant player Meta isn’t the only company doing VR and secondly because they’re continuing to work on it…
But it does say something if they’re drastically cutting the budget and I found Bosworth’s statement partially unconvincing since he decided to pretend like it’s nothing.