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Their Metaverse strategy is pretty much dead. Zuck didn't even utter that word during earnings. I guess it must be giving him chill after going through the roll

Their Metaverse strategy is pretty much dead. Zuck didn't even utter that word during earnings. I guess it must be giving him chill after going through the roller coaster ride of their stock price swing. I don't think they are going for another rename anytime soon. But, when they'll - what they would like to rename to? I hope not GenAI. It's naive to name your co after a tech. Microsoft didn't call themselves Windows, then a rename to Azure, then again to ChatXXX :-) Meta earnings official page - https://investor.fb.com/investor-news/press-release-details/ https://investor.fb.com/investor-news/press-release-details/...

ycdavidsmith 3y ago
Fud. He discussed metaverse on the call, sees eventually 2 bln+ smart glasses market powering in-app monetization, essentially flipping APPL’s script of big margins from device and app sales / platform lock-in.
zdyn5 3y ago
What are you talking about? He directly addressed it a couple times and ended his remarks on it: “Moving onto our product roadmap, I've said on a number of these calls that the two technological waves that we're riding are AI in the near term and the metaverse over the longer term.” “As our investments in AI continue, we remain fully committed to the metaverse vision as well. We've been working on both of these two major priorities for many years in parallel now, and in many ways the two areas are overlapping and complementary. The next big thing on the Reality Labs side is the launch of our Quest 3…” Source: https://s21.q4cdn.com/399680738/files/doc_financials/2023/q2 https://s21.q4cdn.com/399680738/files/doc_financials/2023/q2... From the press release you linked: “Finally, for Reality Labs, we expect operating losses to increase meaningfully year-over-year due to our ongoing product development efforts in augmented reality/virtual reality and investments to further scale our ecosystem. “ They’re digging in even deeper, despite the incorrect superficial perception they’re done with it.

ycdavidsmith 3y ago

Fud. He discussed metaverse on the call, sees eventually 2 bln+ smart glasses market powering in-app monetization, essentially flipping APPL’s script of big margins from device and app sales / platform lock-in.

zdyn5 3y ago

What are you talking about? He directly addressed it a couple times and ended his remarks on it: “Moving onto our product roadmap, I've said on a number of these calls that the two technological waves that we're riding are AI in the near term and the metaverse over the longer term.” “As our investments in AI continue, we remain fully committed to the metaverse vision as well. We've been working on both of these two major priorities for many years in parallel now, and in many ways the two areas are overlapping and complementary. The next big thing on the Reality Labs side is the launch of our Quest 3…” Source: https://s21.q4cdn.com/399680738/files/doc_financials/2023/q2 https://s21.q4cdn.com/399680738/files/doc_financials/2023/q2... From the press release you linked: “Finally, for Reality Labs, we expect operating losses to increase meaningfully year-over-year due to our ongoing product development efforts in augmented reality/virtual reality and investments to further scale our ecosystem. “ They’re digging in even deeper, despite the incorrect superficial perception they’re done with it.