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Meta shutters Horizon Worlds VR app, admitting failure to realize metaverse ambitions after $75 billion losses, sparking skepticism about big tech’s AI investments despite hype and predicted economic…
Meta is shutting down Horizon Worlds VR by June, pivoting to mobile to cut massive Reality Labs losses after years of unprofitable metaverse investments.
Meta Platforms reported $2.21B Reality Labs revenue but $19.19B operating losses, with losses expected to continue. It is developing accessibility features for smart glasses amid privacy and regulato…