Despite these losses, Zuckerberg reiterated in a February 2023 earnings call and again in a presentation to all of Meta’s staff his intent to press ahead with the company’s Metaverse plans. Here are some of the things we know about Meta plans for the metaverse. https://youtu.be/Z2kqIRxxZlo

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2. Facebook changed its name to Meta on October 28,
2021. Its founder and CEO, Mark Zuckerberg, said
this was to indicate the company’s focus on the
metaverse. The company says that, for them, the
term metaverse has to do with the integrated
environment which links products and services
across the entire company.

3. The department in Meta that is leading the charge
developing the metaverse is Reality Labs which lost
$13.7 billion in 2022. Despite these losses,
Zuckerberg reiterated in a February 2023 earnings
call and again in a presentation to all of Meta’s
staff his intent to press ahead with the company’s
Metaverse plans. Here are some of the things we
know about Meta plans for the metaverse.

4. Where Did the Term Metaverse Come From?

5. Metaverse was first used in the book Snow Crash by
Neal Stephenson, published in 1992. It described a
world in which programmed avatars of real people
interacted with each other and purely software
entities in a three dimensional virtual space. In the
book, the three dimensional space is a metaphor
for the real world. Today in the real world,
companies like Meta are working on the necessary
software and hardware to bring their versions of
the metaverse into people’s daily lives and thereby
to make a profit.

6. Meta’s Metaverse Troubles

7. In response to horrific losses at Meta, the company
laid off 13 percent of its employees (11,000) in
November of 2022 and is in the process of laying off
another 10,000 in order to cut costs. The company
is reorganizing internally with the goal of being a
more efficient and a leaner company economically.

8. All of this is being done in order to maintain their
focus on developing the metaverse as a viable
entity. Meta’s vision includes artificial intelligence
apps that are accessible to more people than those
of its competitors.

10. Where Meta Wants to Head with the Metaverse

11. In a recent company meeting Zuckerberg and others
in management laid out their thinking on Meta’s
roadmap for where it is headed in metaverse
development and with specific products and
services. There are plans for their Reels product to
improve how it competes with TikTok and
development of the Project 92 social app similar to
how Twitter works. While these plans are only
peripheral to the metaverse they may be central to
getting Meta’s finances back to where they can quit
laying off employees.

12. Meta AI Plans

13. Meta has worked for years and spent lots of money on
AI research. They have also been criticized for not
generating profitable products and services such as
those now provided by Microsoft and Google. In this
regard Zuckerberg laid out company plans for AI
assistants which will work in Instagram, Messenger,
and WhatsApp to assist users. Perhaps key to how
Meta is proceeding is how Meta intends to make AI
models that are useful for more people than those
of their competitors and will integrate into the
evolving metaverse.

14. In this regard Meta intends to create multiple AI
entities instead of a single master AI. Their vision is
a set of AI assistants that give advice, coach users,
encourage them, and help them express themselves
better. WhatsApp would be a place where
individuals and businesses could have their own
personalized artificial intelligence app using their
own unique algorithm.

15. Open Source AI Technology in the Metaverse

16. At the heart of Meta’s plans to integrate AI into their
vision of the metaverse is open source technology.
On one hand, this is how Microsoft thrived while
Apple suffered back before the return of Jobs and
the iPhone. By making technology open source Meta
can attract lots of smart people and generate
better ideas.

17. The downside of this approach with AI is that it may
give powerful tech tools to bad actors who want to
use AI to create malicious systems that spread
misinformation and actually harm people.
Zuckerberg’s response is that by making the tech
open source it will be more transparent and easier
to oversee.

18. Affordable Metaverse Products

19. Another hint as to where Meta is headed with the
metaverse comes from Zuckerberg’s comments
about the $3500 Apple Vision Pro headset versus
their own upcoming version that will sell for $500.
He contended that the Vision Pro will be for folks
sitting alone on a couch while Meta’s will be for
multiple people interacting within the metaverse.

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