Zuckerberg's metaverse dream is collapsing after billions in losses
SMRTR summary
Mark Zuckerberg is dramatically scaling back Meta's metaverse ambitions after burning $70-75 billion on the project since 2020, planning to slash Reality Labs' budget by 30% starting January 2026. The CEO who renamed Facebook to Meta in 2021 is now shifting investments toward AI glasses and wearables instead. This strategic pivot comes as the generative AI revolution has captured the tech industry's attention, making the metaverse seem less promising than originally envisioned.
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