Andrew Bosworth, head of Meta’s metaverse subsidiary Reality Labs, says that the company will keep putting money into VR (virtual reality) technology in 2023. Bosworth notes that Meta is still committed to its metaverse pivot, even though the company has changed and adapted to deal with the uncertain economy.
Meta will keep spreading the word about Metaverse and VR in 2023.
The social metaverse company Meta plans to keep making products related to the metaverse and virtual reality (VR) in 2023. In a post from December 19, the head of Reality Labs’ metaverse branch, Andrew Bosworth, says that the company will keep working toward its new goal even though it has had a lot of financial problems.
Bosworth says that after one of the hardest years in the company’s history, Meta is just as committed to its future vision as it was on the day it was first shown.
On October 28, 2021, it was announced that Facebook would change its name to Meta, and the company’s goal and focus shifted to making the metaverse a real place where people can talk to each other, find communities, and start businesses. This is what Bosworth thinks is the best way to get past the destructive short-sightedness he sees in people.
Expenditures and Achievements
The company’s recent round of layoffs, which was announced on November 9, has made Meta less committed to the metaverse. 11,000 people lost their jobs. Even so, the company still gives 20% of its budget to Reality Labs, which is its most important metaverse subsidiary.
Even though many investors have told Meta to stop doing business in the metaverse, Bosworth said that this level of spending “makes sense for a company that wants to stay at the top of one of the most competitive and innovative industries.”
This amount of investment will continue to fuel the industry-changing innovations that Meta plans to release in 2023. These innovations will be based on research and development methods for AR (augmented reality). Bosworth says that about half of Reality Labs’ resources are being used for this kind of work right now.
Bosworth makes the point that 2023 will be a big year for the company in terms of the metaverse. This is because Meta plans to release the follow-up to the Meta Quest 2 headset and will focus on growing and improving the communities in Horizon Worlds, its flagship metaverse experience.
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