Meta to Dedicate 20% of Next Year's Spending to Building the Metaverse

Despite experiencing a loss of $9.4 billion USD from Reality Labs during the first three-quarters of 2022 alone, Meta has reaffirmed its commitment to building the metaverse. The company has declared that it will trudge on by continuing to invest in Reality Labs in a new blog post entitled Why we still believe in the future from CTO and Head of Reality Labs Andrew Boswoth."Economic challenges across the world, combined with pressures on Meta's core business, created a perfect storm of skepticism...