Mark Zuckerberg Optimistic on Metaverse in the Long-Run Meta Reality Labs focuses on research and development of its metaverse-related project
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Mark Zuckerberg, CEO, Meta at the New York Times DealBook Summit said he was still optimistic about the metaverse on a longer 'five to ten year horizon'. The company was recently criticised due to the losses incurred in its attempt to build a metaverse.
Virtual reality, augmented reality and social platforms are the platforms Meta focuses on. "The way we communicate gets richer and more immersive," Zuckerberg said via a virtual interview, doubling down on his company's bet on a virtual and augmented reality-dominated future.
Zuckerberg has admitted Meta would need to operate in a more 'efficient and disclined' manner since macroeconomic issues have forced the company to scale back the spending.
"Skepticism does not bother me too much. We've had doubters the whole time", said Zuckerberg.
According to Zuckerberg, Meta spends 80 per cent of its time focussed on its social media apps including the likes of WhatsApp, Facebook and others. Meta Reality Labs focuses on research and development of its metaverse-related project.
Zuckerberg stated that he is unfazed by critics of his company's bet on the metaverse, saying a lack of pushback typically means an idea is not ambitious enough.
