Meta scales back metaverse ambitions, focusing on AI smart glasses

Meta's Reality Labs division is cutting 1,000 jobs, shifting focus from VR and the metaverse to AI-powered smart glasses due to high costs and a lack of focus. The company has invested over $70 billion in the metaverse since 2021 without significant returns. They are now prioritizing mobile platforms for metaverse development to build a larger audience. This strategic shift signifies a scaling back of Meta's ambitious metaverse vision, with internal VR game studios also being closed.