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+16 +1
Meta says it will lay off more than 11,000 employees
Facebook founder and CEO Mark Zuckerberg described the cuts as a "last resort" in a memo sent to staff.
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+23 +1
Facebook owner Meta cuts 11,000 jobs—13% of workforce
Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk. There have been numerous job cuts at other tech companies that hired rapidly during the pandemic.
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+11 +1
Facebook parent Meta is preparing large-scale layoffs this week, Wall Street Journal reports
Meta Platforms Inc is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday.
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+30 +1
Meta investors reportedly 'got more disgusted' with Mark Zuckerberg's metaverse plans after he doubled down in the company's earnings
Investors have expressed their ire in meetings with Meta executives, including some conferences with Mark Zuckerberg over the past week, FT reported.
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+13 +1
Meta’s value plunges more than $65 billion amid falling sales, rising costs
Investors wiped more than $65 billion from Meta’s market capitalization on Wednesday after the Facebook owner reported another quarter of declining revenues and failed to convince investors that big bets on the metaverse and artificial intelligence were paying off.
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+22 +1
Mark Zuckerberg should dial down the metaverse crap and make Facebook 'Facebook' again
Staring down the barrel of a potential recession, Meta should be focused on growing engagement and revenue for Instagram, Facebook, and WhatsApp.
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+19 +1
The Metaverse Is Failing, But This Is One Investment That Will Not Die.
The metaverse is a failure. The games are stupid. I’ve tried DecentralandMANA 0.0%, which is a token I stupidly own. My avatar keeps banging into walls. Even if I paid for the premium services, skins, or whatever they are called, I could not imagine the experience being all that interesting. The token is off 81% year-to-date. It’s a wonder they are even still in business. Grayscale’s Decentraland ETF is being bought now by crypto vultures who like it at 60 cents and think it might go to a $1 again someday.
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+23 +1
How many more warning signs does Mark Zuckerberg need to see before he pulls the plug on his metaverse?
Mark Zuckerberg should pause, reflect, and ask himself one important question: When is enough, enough?
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+23 +1
Most Metaverse users don't even make it a month, WSJ reports
Meta is struggling to keep users engaged inside the $15 billion Horizon Worlds platform, The Wall Street Journal reported.
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+19 +1
Meta's 'desperate' metaverse push to build features like avatar legs has Wall Street questioning the company's future
"So, the greatest development of burning $10 billion of cash flow on this endeavor is legs?" the Mirabaud analyst Neil Campling asked.
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+29 +1
It's painful how hellbent Mark Zuckerberg is on convincing us that VR is a thing
At Meta Connect 2022, the company’s annual developer conference for its VR efforts and Oculus hardware platform, the company announced a lot of stuff — but what it communicated more effectively than anything else was just how incredibly thirsty — one might even say desperate — Mark Zuckerberg is for his metaverse bet to pay off.
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+4 +1
Mark Zuckerberg on the Quest Pro, building the metaverse, and more
As I sat down with Mark Zuckerberg at his office last week for an hour-long conversation, I was wondering if he’d be less enthusiastic about his metaverse vision than he was a year ago.
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+17 +1
Mark Zuckerberg showed his full avatar, which now has legs, in real-time for the first time after Meta was slammed for poor graphics
Adding legs to the new avatars was "probably the most requested feature on our roadmap," Meta CEO Mark Zuckerberg said at the Connect conference.
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+20 +1
Meta's Journey to Innovation: Zuckerberg's Big Bet on the Metaverse
Meta has tried and failed at imitating successful tech platforms like Substack and Clubhouse, would Mark Zuckerberg’s bet on the metaverse finally be his next success story?
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+1 +1
It's Lonely in the Metaverse: Decentraland’s 38 Daily Active Users in a $1.3B Ecosystem
What’s going on in the metaverse these days, you might ask. Looking at two of the biggest companies with over $1 billion valuations, the answer is surprising: Not much, or at least not enough to bring users back every day. According to data from DappRadar, the Ethereum-based virtual world Decentraland had 38 active users in the past 24 hours, while competitor The Sandbox boasted 522 active users in that same time.
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+8 +1
Report: Even Facebook Isn't Using Its Own Metaverse, Begs Employees To Spend Time In It
According to a report by The Verge, Meta’s Horizon Worlds metaverse app is so dreadful, even the people making it don’t want to use it. So if you woke up this morning wondering, “I wonder if anyone’s figured out what the metaverse is for?” you can rest assured, it’s still nope.
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+19 +1
Meta’s VR social network Horizon is too buggy and employees are barely using it
‘We are working on a product that has not found product market fit,” says an exec in a leaked memo.
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+24 +1
Facebook scrambles to escape stock's death spiral as users flee, sales drop
A year ago, before Facebook had turned Meta, the social media company was sporting a market cap of $1 trillion, putting it in rarefied territory with a handful of U.S. technology giants. Today the view looks much different. Meta has lost about two-thirds of its value since peaking in September 2021. The stock is trading at its lowest since January 2019 and is about to close out its third straight quarter of double-digit percentage losses. Only four stocks in the S&P 500 are having a worse year.
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+20 +1
Mark Zuckerberg: The metaverse will unfold in 3 steps, and one is happening ‘sooner than I thought'
Whether you’re strapping in for a Peloton ride or buying up virtual real estate, Mark Zuckerberg says you’ve joined the metaverse. On an August episode of the Joe Rogan Experience podcast, the Meta CEO said the evolution of virtual reality will unfold similarly to computers and cell phones: Gamers are the first to explore new technology, followed by mainstream users who want to use it to socialize.
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+24 +1
Meta is reportedly putting some workers onto a '30-day list' that gives them a month to find a new role at the company — or leave
A Meta spokesperson told The Wall Street Journal the practice is a way for Meta to keep talent it might otherwise have lost.
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