It appears Meta may be ready to put the metaverse out of its misery

5 days ago

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Meta may be reducing its metaverse budget by up to 30%, shifting focus to AI glasses and wearables.
Meta's stock rose 7% following reports of budget cuts in the metaverse division.
The metaverse, once touted as the 'successor to the mobile internet,' failed to meet user targets.
Meta initially aimed for 500,000 monthly active users in Horizons Worlds but revised the goal downward.
Investors and users were skeptical of the metaverse concept from the start.
Meta rebranded during a crisis, attempting to shift focus from negative headlines about platform harms.
The metaverse lacked appeal due to poor graphics and unclear utility, requiring expensive hardware.
Meta is now hiring top designers to improve aesthetics in future projects like AI wearables.
Despite AI's popularity, Wall Street is concerned about Meta's high spending on unproven technology.
Zuckerberg remains committed to investing in new tech, despite financial risks.

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