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Since when is Meta failing? They have something like 90% marketshare of a >$10 billion market with ~75 million users. The big splash with the Quest 3 is the pa
by dangus 3y ago
Since when is Meta failing? They have something like 90% marketshare of a >$10 billion market with ~75 million users.
The big splash with the Quest 3 is the passthrough features. 7 of the top 20 Meta Quest apps are mixed reality apps within months of the product's launch.
I think we can't call the state of the market decided when true mixed reality is just now getting off the ground.
I think we also can't determine that the market is drying up for Meta when 2023's hardware sales drop happened in a year where basically all the available hardware on the market is growing long in the tooth. Harware sales always drop for old consoles - look at the last two years of Nintendo Switch sales.
IMO Sony doesn't have a clue about what they're doing with VR (or portable consoles for that matter) while Meta, Valve, and Apple seem to understand what their customers want.
- wslh 3y agoAs you said it is early to talk about the success of VR but the Meta execution has concrete business non-forced errors: not motivating other game studios enough or do AAA content in-house.
- sp332 3y agoMeta's Reality Labs is losing multiple billions of dollars per quarter and revenue is dropping.
- dangus 3y agoI don’t think Reality Labs did as well as they thought it would, but they built a $2 billion annual revenue business and can probably cut R&D once the technology is mature. At the end of it they’ll be in a duopoly with Apple with both companies controlling all the software royalties for the major popular AR platforms.
- sp332 3y agoRevenue in the virtual reality and augmented reality division dropped 26% from $285 million a year earlier to $210 million. https://www.cnbc.com/2023/10/25/metas-reality-labs-loses-3point7-billion-in-third-quarter.html https://www.cnbc.com/2023/10/25/metas-reality-labs-loses-3po...
- rchaud 3y agoYikes. $210m revenue on a $4bn loss. Even I could put together a million dollar business if I was allowed to lose $20m doing it.