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” Metaverse losses top $3.6B for Meta with spending set to increase “ Big Five technology player Meta is still burning cash through its Metaverse research and development arm Reality Labs with a $3.67 billion loss posted for the third quarter of 2022, stating those losses will further deepen next year. The company’s Q3 2022…
“Mark Zuckerberg uses private jet frequently despite climate activism” Facebook CEO Mark Zuckerberg, an outspoken proponent of climate change activism, owns a private jet which burned more than $158,000 worth of jet fuel in less than two months. Zuckerberg’s jet, a Gulfstream G650, has burned at least $158,448 worth of jet fuel across 28 different trips…
” ‘Performing as expected’ — Aptos Labs defends day 1 criticism “ After four years of development and millions in funding, the layer-1 blockchain Aptos (APT) finally launched its mainnet on Oct. 17, albeit to somewhat mixed reception. The proof-of-stake (PoS) blockchain has seen millions invested in it from venture capital firms and has previously…
” Quest Pro VR headset raises privacy concerns for Meta’s future in metaverse “ Meta, the parent company of Facebook and Instagram, announced its latest virtual reality (VR) headset at the Meta Connect 2022 event on Oct. 11. The company introduced new features to enhance digital avatars, which raised privacy concerns regarding data collection. The Quest…
“Meta Quest Pro is an expensive gamble on the future of the metaverse” Although almost everyone still refers to it as Facebook, changing its official name to Meta shows just how much the company, or at least CEO Mark Zuckerberg, believes that the metaverse is the future not just of computing but also of social….
“Nine Line Apparel ‘Florida Strong’ T-shirt ad rejected on Facebook: Tyler Merritt” A retired US Army captain says he’s hit a firewall trying to advertise efforts to raise money for Floridians devastated by Hurricane Ian — and it’s called Facebook. Tyler Merritt, CEO of Savannah-based Nine Line Apparel told “Fox & Friends” this week that…
“Molly Russell’s death may spark social media reforms for US kids” In a global first, a London coroner has blamed social media for the suicide of a teenage girl — potentially opening the legal floodgates against industry heavyweights like Instagram, Facebook, Snapchat and TikTok. But the tragic case of Molly Russell could also point the…
“Facebook to purge thousands of workers in ‘quiet layoffs’” Facebook executives are in the process of executing “quiet layoffs” of underperforming workers that could lead to thousands of employees getting pink slips, according to a report. Several employees told the news site Insider that as much as 15% of the company’s workforce could be slashed…
” Terra could leave a similar regulatory legacy to that of Facebook’s Libra “ New draft legislation on stablecoins in the United States House of Representatives proposed to impose a two-year ban on new algorithmically pegged stablecoins like TerraUSD (UST). The proposed legislation would require the Department of the Treasury to conduct a study of…
“Why Wall Street has soured on Mark Zuckerberg, Facebook” Wall Street analysts are bearish on Facebook’s parent company Meta as the social network continues to hemorrhage users migrating to upstart rival TikTok. “I’m not sure there’s a core business that works anymore at Facebook,” Needham analyst Laura Martin told CNBC on Friday. While Facebook maintains…