Mark Zuckerberg, the CEO of Meta Inc, said Thursday that WhatsApp and Messenger would drive his company’s next growth wave. The purpose is to soothe financial worries following the first round of layoffs.
However, we have spoken a lot about long-term opportunities like the Metaverse. Though, the reality is that business messaging will probably be the next strongest pillar of our business as we work to monetize messenger and WhatsApp more, as stated by Zuckerberg.
Meta also allows some customers to communicate and transact with merchants using chat apps. It’s a great initiative by meta, including a new feature unveiled on Thursday in Brazil.
On Thursday’s internal forum, the company did not respond immediately to a request for comment. In recent years, Zuckerberg has heavily invested in extended reality hardware and software since announcing a long-term goal. However, he appears to have changed his tone there.
Meta’s core advertising business has struggled a lot in the current year, and investors questioned the wisdom of that decision.
The CEO of Facebook recently downplayed how much the company was investing in Reality Labs in a staff meeting. It is responsible for the department’s investments in the Metaverse. Meta’s CEO cited capital expenditures as its second largest expense. The budget for Meta was however devoted to land to the tune of about 20%.
In contrast, the Reality Labs unit spent over half of its budget on augmented reality. The next few years will also be a time of development for smart glasses.
Mark Zuckerberg said this was the most challenging work he had ever done. As time goes on, I believe it will become the most valuable part of the work.
The reality lab spent over 40% of its budget on virtual reality. About 10% was spent on futuristic social platforms such as the virtual world it calls Horizon.
Andrew Bosworth, chief technology officer for Reality Labs, said AR glasses must be more valuable than mobile phones. You can appeal to potential customers by doing so, and you will meet a higher bar in terms of attractiveness.
Furthermore, he indicated that he was hesitant to create industrial applications for the devices. In order to attract a broad audience, he declared it niche and wanted to structure it for a general audience.