70 billion dollars down the drain. Meta pulls plug on Reality Labs, and a thousand people lose their jobs
Meta is cutting back investment in VR. The department dealing with it is facing major layoffs, and three studios will be closed.
video games
Adrian Werner
January 15, 2026
Phil Spencer Criticizes Metaverse, Comparing it to Poorly-designed Game
Xbox brand chief Phil Spencer has criticized Mark Zuckerberg's metaverse. In his opinion, it resembles a poorly designed video game and looks like a conference room.
Tech
Marek Pluta
October 27, 2022