Meta exec defends VR investment, promises Quest 2 successor next year

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Critics and the stock market have looked harshly on the billions that Meta has been pouring into virtual reality and the metaverse. But CTO Andrew Bosworth defends the investment.

Photo Illustration: Eniola Odetunde/Axios. Photos: Picture Alliance, Amy Osborne/Getty Images

Bosworth told Axios that Meta is putting what amounts to about 20% of its resources into these long-term projects, with the remainder still supporting core businesses like Facebook and Instagram.Bosworth hailed theBut he also acknowledged that a slowdown in Meta's core business as the advertising market cools will limit how much the company spends in VR and other areas. "Our investments are responding to the business conditions," he said.

Bosworth said it was less clear when the company would release a successor to this year's high-end Meta Quest Pro, noting that the company has many ongoing hardware projects but that not all of them will get the green light, especially in a tougher economy. The sagging economy will also delay other needed breakthroughs in VR, he said, as other companies also slow their development work.is also part of Meta's long-term investments, and Bosworth pointed to Meta's work in areas such as creating images or video from a text prompt.But because the technology can still be wrong, sometimes disastrously so, Bosworth said the key is using it in areas where the consequences of its errors are limited.

 

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