Well, there goes the metaverse!
SMRTR summary
Meta has essentially ended its massive bet on virtual reality by laying off 1,500 Reality Labs employees and shutting down several VR game studios, marking a dramatic reversal from 2021 when Facebook rebranded itself as Meta to focus on the metaverse. After spending $73 billion on the division that never turned a profit, Meta is abandoning VR in favor of AI and its successful Ray-Ban smart glasses, which have begun outselling traditional Ray-Bans in some stores.
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