Meta's Shift in Focus: From Metaverse to AI Products and Threads

Growth and focus on AI products and threads

Achievements in the second quarter of 2023

Meta, formerly known as Facebook, recorded impressive success in the second quarter of 2023. Revenue rose 11% to $32 billion from a year ago, beating market analysts' expectations. This remarkable growth was largely driven by a 34% increase in advertising revenue on platforms such as Facebook, Instagram and new messaging service Threads. Amazingly, despite the increased advertising volume, average ad prices only fell by 16%, helping to further strengthen overall revenues.

Increasing user numbers

The number of daily active users on Meta grew by 7% to a total of 3.07 billion. Facebook continues to be the dominant platform with over 2 billion daily active users and more than 3 billion monthly active users. These figures illustrate Meta's strong positioning in the social media space and demonstrate the company's enormous potential in the global market.

Reality Labs and the Metaverse Challenge

Despite the positive overall development, the Reality Labs department, responsible for the Metaverse project, remains a challenge for Meta. It posted a loss of $3.7 billion in the last quarter alone, bringing total losses since the start of 2022 to $21.3 billion. The future of Metaverse projects like Horizon World is uncertain, as user numbers are modest and usage is limited even among Meta's own employees. Nevertheless, the company plans to launch the Quest 3 VR glasses in the fall, raising hopes for technological innovations.

Threads – The new messaging service

A promising project for Meta is the new messaging service “Threads,” which gained 100 million registered users within a few days. Threads competes directly with Twitter and other messaging platforms. To address criticism and spam issues, Meta is working on introducing new features, such as an exclusive content feed that will only be shown to accounts you follow. Threads is not currently available in the EU, but the company plans to launch it in the coming months.

Mark Zuckerberg's Metaverse Vision: Reality Labs reports losses, but investors remain confident

Mark Zuckerberg's vision of the Metaverse

Mark Zuckerberg is a proponent of the Metaverse concept, which represents a virtual world where users can immerse themselves in immersive online experiences using technologies such as virtual reality (VR) and augmented reality (AR). The idea is that people not only consume content, but can actively interact in virtual worlds and identify there. Despite significant losses in the Reality Labs division that drives the Metaverse project, Zuckerberg remains confident that the long-term prospects are promising.

Challenges of Metaverse Development

The development of the Metaverse faces financial challenges. The Reality Labs division, led by Zuckerberg, has so far recorded losses totaling $31 billion. The development of VR and AR technologies requires significant investment in research and infrastructure, and bringing such technologies to market is fraught with uncertainty.

Mark Zuckerberg's powers of persuasion

Despite the losses, Zuckerberg has convinced investors that the metaverse's long-term prospects are promising. He emphasizes that developing an immersive Internet world takes time and patience. The idea of ​​a future where people live and interact in a digital reality is extremely fascinating.

New projects and shift in focus

Despite the setbacks in Metaverse development, Meta has had positive developments. The company has shifted its focus to other projects, including a promising AI initiative and the successful launch of Threads, a new messaging service. These projects have piqued investor interest and helped Meta post impressive revenue growth in the last quarter.

Future prospects for the metaverse and meta

The Metaverse remains a promising vision for the future of the Internet. Technology is constantly evolving, and companies like Meta will continue to work to create immersive experiences. Investors are optimistic that these investments could be rewarded in the long term as the Metaverse becomes an integral part of our daily lives.

The Challenges of the Metaverse Division of Meta and Zukerberg's Web3 Initiative

Challenges of the Metaverse Division of Meta

Metaverse Division of Meta, which is responsible for the development of the Metaverse project, is facing challenges. Despite massive investments, the project has not yet been able to generate significant income. User interest appears to be waning, and new approaches are needed to increase the appeal of the Metaverse. Improvements in user experience and innovative applications could help advance the project.

Zukerberg's Web3 initiative and the role of AI

In addition to the Metaverse Division, Zuckerberg announced his Web3 initiative, which is based on blockchain technology. Web3 promises a decentralized Internet landscape that returns control and ownership of data to users. Meta relies heavily on artificial intelligence to realize this vision. AI plays a crucial role in processing large amounts of data and creating personalized user experiences.

Opportunities and risks of the AI-based Web3 initiative

Zukerberg's Web3 initiative offers both opportunities and risks. AI can enrich the metaverse with intelligent features that optimize user interaction and increase engagement. However, risks associated with dependence on AI also need to be taken into account. Biased or insufficient data could lead to errors and biases that affect user trust.

outlook

Metaverse Division of Meta and Zukerberg's Web3 initiative face challenges, but they also offer promising opportunities. The future remains uncertain, but Meta is committed to advancing the visions of Metaverse and Web3 through innovative approaches and investments in AI. However, the company must adhere to ethical and privacy standards to minimize potential risks associated with AI and maintain user trust. This is the only way to establish the Metaverse as part of our everyday lives and to create a decentralized internet landscape.

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Metaworse - Criticism of the Metaverse plans of major digital corporations and monopolists - Image: Xpert.Digital / Athitat Shinagowin|Shutterstock.com

Metaverse sounds as incredibly exciting as the word itself. It contains something that is still unknown and the announcements from Meta (formerly Facebook) give us a little idea of ​​what it could be. On the other hand, I wonder where the seemingly sudden hype about the metaverse is coming from? “Experts” suddenly appear, as if they have always known nothing other than Metaverse and have many years of experience.

In fact, Meta Inc. boss Mark Zuckerberg only announced in July last year that Facebook would become a Metaverse company in the next five years. A virtual reality world that will feel “like a mix of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world.”

More about it here:

• Metaworse – Criticism of the Metaverse plans of major digital corporations and monopolists