Meta’s quarterly results are framed by a lengthy and jubilant statement from CEO Mark Zuckerberg. It all sounds positive to him. After the previous job cuts, however, more seem to follow. And the company’s focus is also apparently shifting. The Metaverse only appears in the last paragraph, albeit together with the announcement that they want to launch new VR glasses for end customers this year. Before that, the main focus is on artificial intelligence and efficiency. Because in the post, Zuckerberg also calls the “Year of Efficiency”.
Efficiency therefore means that projects are canceled more rigorously and quickly if they do not lead to a result in time. Middle management will be fundamentally streamlined – by “a few levels”. Both are likely to be accompanied by new job cuts. It should also make the company faster when it comes to making decisions. Zuckerberg wants to give developers artificial intelligence to become more productive.
In November last year, Zuckerberg announced that 11,000 employees would have to go. At that time, too, he justified the step with efficiency. Now he adds that it was the “beginning of efficiency” back then, “not the end”. In addition, office space was sold and investments restricted in the autumn. The steps resulted in surprisingly good quarterly figures. Sales, profits and margins fell, but less than expected. In addition, the daily active users are increasing on all meta platforms. It is currently unclear where exactly the new users come from.
More AI and a new quest for the Metaverse
Zuckerberg identifies two areas that will be prioritized: artificial intelligence and the metaverse. In fact, a change seems to be taking place here that affects the entire tech industry and now also meta. So far, the Metaverse has been Zuckerberg’s favorite child. Even with the job cuts and savings, he said they would still invest in the Metaverse.
In the summer, he commented on the quarterly figures that artificial intelligence should increasingly select contributions on the platforms and that this bears its share of Meta’s advertising revenue, so it was all about the recommendation AI. Now, Zuckerberg says, “Generative AI is an extremely exciting new field with so many different uses. One of my goals for Meta is to no longer just be a leader in our recommendation AI, but also in the generative AI space.” He does not explain any concrete plans. For this, Zuckerberg unravels how more money should be made with advertising, for example through more ads, more advertising in reels. The business communication division is also to be further expanded.
Last but not least, Zuckerberg comes to his previous core topic: the Metaverse. At the end of the year, he announces, a new generation of Meta Quest VR glasses will come onto the market, which is aimed at the general public and should therefore be cheaper than the Meta Quest Pro business model presented last year. According to his assessment, this will bring the Metaverse significantly forward: “I think the technology will create the basis for all future headsets, maybe even for augmented reality glasses.”
(emw)
To home page
