Earlier this week, the company announced that it would spend about $10 billion on metaverse-related investments this year, and it has been acquiring V.R. ![]() ![]() The company already has more than 10,000 people working on augmented and virtual reality projects in its Reality Labs division - roughly twice as many people as are on Twitter’s entire staff - and has said it plans to hire 10,000 more in Europe soon. Zuckerberg and his lieutenants cheerfully laid out their vision for the so-called metaverse, the immersive virtual environment that Facebook - which, as of Thursday, has been renamed Meta, although everyone except for a few professionally obligated financial journalists will probably keep calling it Facebook - is trying to build.Īs with most of Facebook’s strategy announcements, Thursday’s rebranding formalized a shift that has been underway for years. Whistle-blower? What whistle-blower? Cascading, yearslong trust crisis that has regulators fuming, employees bailing and lawmakers comparing Facebook to Big Tobacco? Hmm, doesn’t ring a bell. When Mark Zuckerberg appeared onscreen at Facebook’s virtual Connect conference on Thursday, smiling as he wandered through sterile rooms filled with midcentury modern furniture, he looked like a man unburdened.
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