Facebook's ad rebound gives Meta CEO Mark Zuckerberg freedom to pursue far-out bets

has Android and Facebook has always been forced to play by their rules in order to get distribution for its apps, which include Instagram and WhatsApp.

The metaverse is the place where Zuckerberg sees that dynamic changing. However, he has said it could take a decade and told analysts on Wednesday that he "can't guarantee you that I'm going to be right about this bet." "I do think that this is the direction that the world is going in," Zuckerberg said. "One billion or two billion people have glasses today; I think in the future, they're all going to be smart glasses."

Meanwhile, Spiegel pitched Snap's AR projects as a "long-term focused" investment that represents "an extension of our core platform rather than totally new bets." An analyst on Tuesday asked Spiegel whether the company has "a lot of employees that are working on like five-plus year projects that are not generating revenue," underscoring the general concern that Snap is spending too much time and investment on the future rather than resolving immediate financial concerns.

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