Meta’s Victory Opens the Way for Silicon Valley to Go Deal Shopping

Meta has announced the closure of several virtual reality studios, including three key developers for its Quest 3 platform, as part of significant budget cuts to its metaverse division. This decision reflects a strategic shift in the company's focus amid ongoing financial reassessments.

Meta is laying off over 1,000 employees from its Reality Labs division, which focuses on virtual and augmented reality, as part of a broader strategy to cut costs and refocus its efforts. This decision follows the closure of three VR studios, indicating a significant shift in the company's approach to its metaverse ambitions.

Meta has laid off 1,500 employees from its metaverse division, representing a 10% reduction in staff, as the company shifts its focus towards artificial intelligence glasses and other wearable technologies. This decision follows a broader strategic reassessment of its financial priorities, including a 30% budget cut for the metaverse unit.

A recent study has found no evidence that increased social media use or gaming contributes to mental health issues such as anxiety or depression among teenagers. This research comes at a time when UK ministers are contemplating a social media ban for users under 16, following Australia's recent legislation aimed at enhancing online safety for minors.

Airbnb has appointed Ahmad Al-Dahle, a former AI leader at Meta, as its new Chief Technology Officer, a move that underscores the company's commitment to enhancing its technological capabilities. This appointment was announced by CEO Brian Chesky, who emphasized the importance of integrating artificial intelligence into Airbnb's operations.

Airbnb has appointed Ahmad Al-Dahle, a former executive at Meta, as its new Chief Technology Officer, a move announced by CEO Brian Chesky. This decision marks a significant step in Airbnb's strategy to enhance its technological capabilities, particularly in artificial intelligence (AI).

Two years ago, companies like Meta and OpenAI publicly opposed the military use of their technologies, but recent developments indicate a shift as these firms have become entangled in U.S. military efforts, raising ethical concerns about the implications of their AI tools.

Meta has announced the closure of three virtual reality studios as part of significant cuts to its metaverse division, reflecting a strategic shift in the company's focus. This decision follows a broader reduction of 30% in the budget for the metaverse unit, indicating a reevaluation of priorities under CEO Mark Zuckerberg.