'We're continuing to look across the company, across both Family of Apps and Reality Labs, and really evaluate are we deploying our resources toward the highest leverage opportunities,' Meta Chief Financial Officer Susan Li earlier in the week. The Facebook CEO says his vision – which he has been working on for several months – would not only reach into virtual reality, but augmented reality, computers, mobile devices and game consoles as well. 'And you feel present with other people as if you were in other places, having different experiences that you couldn't necessarily do on a 2D app or webpage, like dancing, for example, or different types of fitness.' 'But you can think about the metaverse as an embodied internet, where instead of just viewing content - you are in it,' he continued. That is one that is akin to a virtual environment where people can work and play for most of their 24 hours without leaving their home.Īs Zuckerberg describes it, it's a 'vision' that spans the entire tech industry, calling it the successor to the mobile internet. In a recent interview, Mark Zuckerberg said that over the next five years, he wants people to think of Facebook not as a social media company, but a 'metaverse' company. The rise follows a dismal 2022 throughout which the value of the company, which also owns WhatsApp, plunged by around two thirds. Meta's stock price has surged about 43 percent since the start of the year, as investors welcome this latest job cull. And I think it's just a big part of the next chapter for the work that we're going to do in the whole industry.' 'But this is something that I'm spending a lot of time on, thinking a lot about, we're working on a ton. 'And obviously, all of the work that we're doing across the apps that people use today contribute directly to this vision in terms of building community and creators. 'And my hope, if we do this well, I think over the next five years or so, in this next chapter of our company, I think we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company,' Zuckerberg said in the interview with The Verge. The move will no doubt have been a tough one to make for Zuckerberg, who laid out his vision for Meta to transform into a 'metaverse company' where users feel like they are 'in' the internet, rather than viewing it on a device.īack in 2021, he had high hopes for his new virtual reality world, which the company had already 'spent months' working on.
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