How Meta flunked its first year as a metaverse company

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Now, as Meta finishes its first full year as a “metaverse company,” the outlook is a lot less rosy. The company has lost billions of dollars on Reality Labs, the division overseeing its metaverse work. Its stock has cratered. The company has, for the first time, shed thousands of jobs in mass layoffs. Even longtime shareholders are starting to do what was once unthinkable: question Zuckerberg’s vision for the future.

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