At the heart of the metaverse derangement was the persistent inflation of its definition. McKinsey & Company proclaimed in June 2022 that the metaverse could generate “up to $5 trillion in impact by ...

Forbes contributors publish independent expert analyses and insights. Cortney is an expert in smartglasses, VR, AI, and the future of work. Just under three years later, Bloomberg is reporting that ...

Meta’s enormous bet on virtual reality ended last week, with the company reportedly laying off roughly 1,500 employees from its Reality Labs division — about 10% of the unit’s staff — and shutting ...

Meta Platforms Inc.’s Mark Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the company and the reason for ...

Meta’s latest developer update delivers a quiet but major shift in strategy: the company is moving its metaverse ambitions away from virtual reality and focusing almost entirely on mobile experiences.

A version of this story will appear in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here. Shares of the company formerly known as Facebook shot up 7% early Thursday in ...

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