Mark Zuckerberg makes a U-turn on metaverse spending as Reality Labs is hit with a new efficiency mantra | Business Insider

"surprised" him as they not only cut costs, but also improved communication and progress on future products.

Susan Li, Meta's new CFO, said on the call that losses from Reality Labs will"continue" in 2023 because it is a"long duration investment." Still, Reality Labs would be subject to the same push for efficiency as other parts of the company, Zuckerberg said. "I think people are going to look back, decades from now, and talk about the importance of the work that was done here," Zuckerberg said last fall.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Meta shares soar as Zuckerberg ushers in ‘year of efficiency’Meta Platforms CEO Mark Zuckerberg struck a new tone with investors on Wednesday: The social media giant will be leaner, more efficient and more decisive, with a big focus on artificial intelligence. Zuckerberg’s so yesterday
Source: dailymaverick - 🏆 3. / 84 Read more »