At the heart of the metaverse derangement was the persistent inflation of its definition. McKinsey & Company proclaimed in June 2022 that the metaverse could generate “up to $5 trillion in impact by ...

Meta’s enormous bet on virtual reality ended last week, with the company reportedly laying off roughly 1,500 employees from its Reality Labs division — about 10% of the unit’s staff — and shutting ...

Meta stock climbed after Bloomberg reported that the company was looking to make cuts to the metaverse unit. The budget cuts could be as high as 30% for the unit and would likely include layoffs, the ...

Shares of Meta Platforms rose up to 4% Thursday following reports the company was scaling back its spending on the metaverse project, a virtual reality experience the company once touted as the future ...

Meta’s latest developer update delivers a quiet but major shift in strategy: the company is moving its metaverse ambitions away from virtual reality and focusing almost entirely on mobile experiences.

It is easy to make predictions, and even easier to critique those that others made in the past. Case in point: Gartner predicted in 2022 that by 2026 (yes, that's this year), 25% of the population ...

Meta shuts down its ‘Horizon Worlds’ metaverse – and then decides not to - Idea and software that inspired Facebook’s name ...

As virtual environments evolve from speculative concepts into engaged digital economies, forward-thinking organizations are presented with a transformative opportunity: building dedicated marketplaces ...

Forbes contributors publish independent expert analyses and insights. Cortney is an expert in smartglasses, VR, AI, and the future of work. This voice experience is generated by AI. Learn more. This ...