meta Meta Lays Off 11,000 Workers Amid Major Tech Industry Slowdown Facebook's parent company Meta eliminates 11,000 jobs as it faces declining revenue and a broader industry pullback. The layoffs mark the largest job cuts in the company's history.
tech layoffs Major Tech Companies Slash Thousands of Jobs Amid Economic Downturn Tech giants like Meta and Twitter are eliminating thousands of positions as the industry faces declining revenue and rising inflation. These massive layoffs mark a sharp reversal from the rapid hiring sprees seen during the pandemic.
meta Investors Frustrated as Meta Stock Plummets 72% Over Metaverse Spending Meta's stock drops to its lowest level since 2015 as Mark Zuckerberg's massive metaverse investments ignore shareholder demands for profit. Because of a dual-class share structure, investors find themselves powerless to change the company's direction.
big tech Big Tech Stumbles in Third Quarter as Meta Suffers Historic Weekly Loss Major tech companies outside of Apple lose over $350 billion in market value following bleak third-quarter earnings and weak future guidance. Meta experiences its worst week since its 2012 IPO as economic headwinds weigh heavily on the sector.
meta Meta Stock Plunges 25% as Ad Slump and Metaverse Bets Devastate Earnings Meta's stock drops to 2016 levels after a weak third-quarter earnings report shows declining revenue and massive metaverse investments. The tech giant faces compounded pressure from an advertising slowdown, Apple's privacy changes, and a strong U.S. dollar.
metaverse Animoca Brands Chairman Says Meta's $10B Metaverse Bet Falls Short Animoca Brands co-founder Yat Siu argues that Meta's $10 billion annual metaverse investment is insufficient to compete with the economic freedom of open web3 platforms like The Sandbox.
meta Meta Unveils VR Legs, Hulu Hikes Prices, and Microsoft Adopts DALL-E 2 This week in tech, Meta reveals leg avatars and a pricey new headset, while Hulu increases subscription costs. Microsoft also integrates AI image generator DALL-E 2 into its consumer apps.
meta Meta's Massive Stock Plunge Fails to Deter Zuckerberg's Metaverse Investment Despite a devastating 20 percent stock drop and massive market value losses, Mark Zuckerberg maintains total control over Meta and continues to pour billions into his metaverse vision.
molly russell UK Coroner Calls for Age Verification and Algorithm Regulation After Teen's Death A landmark coroner's report urges the UK government to mandate age verification on social media and create an independent regulatory body following the tragic death of 14-year-old Molly Russell.
instagram Instagram Expands AI Age Verification to India and Brazil Ahead of Global Rollout Instagram is bringing its artificial intelligence age verification system to India and Brazil, impacting roughly 400 million users. The expansion drops the flawed social vouching method in favor of video selfies and ID uploads to better protect teens.
meta Meta Urges Court to Dismiss FTC Complaint Over VR Fitness App Acquisition Meta asks a federal court to dismiss the FTC's antitrust complaint regarding its acquisition of the VR fitness app maker Within. The company argues the agency weakened its case by dropping claims that Meta already competes in the VR fitness market.
meta Meta Unveils $1,499 Quest Pro Headset and Workplace VR Partnerships Meta reveals its high-end Quest Pro headset at Connect 2022, partnering with Microsoft to bring productivity apps to virtual reality. The company also announces new business-focused subscriptions and shares that its app store has generated over $1.5 billion.
meta Meta Unveils $1,499 Quest Pro Headset Focused on Workplace Productivity Meta reveals the high-end Quest Pro VR headset, featuring full-color passthrough and advanced tracking for mixed reality. The premium device targets professionals rather than casual consumers at a steep $1,499 price point.
meta TechCrunch Reporter Experiences Meta Connect Keynote Inside Horizon Worlds VR A TechCrunch journalist details the clunky but entertaining experience of watching Zuckerberg's Meta Connect keynote from inside a virtual reality amphitheater. The VR viewing proves more immersive but far less practical for taking notes than a traditional screen.
meta Meta Unveils $1,499 Quest Pro Headset Focused on Workplace Productivity Meta introduces the premium Quest Pro VR headset, shifting focus from budget accessibility to high-end mixed reality features. The device boasts full-color passthrough, eye-tracking, and a steep price tag aimed at professionals.