Facebook Business Restructuring – Zuckerberg’s Metaverse After 1st Year Is Still A Long Way

A year later, that vision seems no closer. The group is now called Meta instead of Facebook. But the mainstay is still the ad revenue that Facebook and Instagram bring in with their billions of users. Zuckerberg now emphasizes that change takes time. “It’s not like these things will be ready in a year or even two or three years,” he said in a recent interview with tech blog The Verge. However, the group is committed to moving development forward – “we’ll do this in the next decade – or as long as we have to”.

Billions for the Metaverse
The invention of the future devours billions. In the first half of this year alone, Reality Labs – the division that bundles everything related to the Metaverse and virtual reality display glasses – posted an operating loss of approximately $5.77 billion. 5.9 billion).

That’s certainly money the Facebook group can carry. However, the problem with Zuckerberg and Meta is that their core business is making less money. The meta-apps generated an operating profit of $22.65 billion in the first half of the year, up from $28 billion a year earlier.

On the one hand, advertisers are cutting their marketing costs because of inflationary pressures and concerns about the economy. On the other hand, Apple’s measures to protect privacy cost meta billions. App providers like Facebook are now required to ask iPhone users for permission if they want to track their behavior across different services and applications. Many rejected this – thus slashing business models into online advertisements based on this permanent tracking.

VR technology has yet to mature
However, Zuckerberg assured that investments would not be cut in the future. Savings are made in other areas instead. And Meta hopes to get companies excited about the idea of ​​virtual worlds that could house their operations and businesses. The roughly 200 million PCs purchased annually, mainly for business purposes, could be replaced by Metaverse technology such as glasses, he said. Eventually. Because even with the recently presented VR glasses Quest Pro for 1400 dollars, he limited that only later generations will have reached the necessary maturity level.

Zuckerberg summed up that he was happy to have deployed the reshuffle a year ago in the rather ideal world rather than under today’s pressure. How long he can keep chasing the Metaverse dream depends largely on the profitability of Facebook’s business.

Zuckerberg’s desire to be at the forefront of the next computing platform is understandable. Because on the mobile internet with today’s smartphones, despite billions of users, Meta is only a guest on the platforms of Apple and Google, which play the leading role in the Android system.

“Direct continuation of the Internet”
However, Meta is far from the only company looking to gain a foothold in the Metaverse. The Nvidia group, specializing in graphics cards and artificial intelligence, operates its ‘Omniverse’ platform, in which companies can, for example, set up entire virtual factories to optimize processes. “From our point of view, the Metaverse is the direct continuation of the Internet,” said Nvidia executive responsible Rev Lebaredian. Just that you go from a 2D world to a 3D environment. And for that you need a lot of standards, with which all players should eventually work together.

And the Apple group, with which Meta is currently at odds, has been lining up its Metaverse building blocks for years, although the concept may not be called that. Apple is initially expected to produce goggles that – similar to the Quest Pro – can record the environment with cameras and show the user additional details. According to media and analyst reports, that could be in 2023. Then the battle for the Metaverse must come to a head again.