• About
  • Privacy Policy
  • Contact
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
No Result
View All Result
Home Companies

Mark Zuckerberg Hints Meta OS, Projects Billions In Metaverse Revenue

TND Newsdesk by TND Newsdesk
June 27, 2022
in Companies, Digital Transformation, Emerging Tech, Leadership, Marketing, Social Networks
0 0
0

A Meta Platforms-built operating system could be in the offing as CEO Mark Zuckerberg forecasts the metaverse to be a major part of the tech giant’s business this decade.

Zuckerberg remains open to the idea of having an operating system for his company’s numerous platforms and hardware to create the metaverse, an immersive virtual reality, and for it to function optimally.

“I think over the long term, we will need this level of integration between hardware and software and an operating system, just to deliver on what we want to build,” Zuckerberg stated.

The metaverse author added that by the end of this decade, he projects 1 billion users of the metaverse, each spending “hundreds of dollars” a year on products such as virtual goods for spaces and avatars. He also expressed enthusiasm that the metaverse will generate hundreds of billions of dollars in revenue by the end of the decade.

Meanwhile, Reality Labs, the metaverse division at Meta, is presently a venture that is on the red revenue-wise. It lost under $3 billion in the first quarter, after losing $10 billion last year. Because of the division’s tepid market performance, Zuckerberg said he was planning to “slow the pace” of new investments. 

Still, Zuckerberg expects the metaverse to be at the forefront and be a sizable part of its business in the future. 

For more information, read the original story in Business Insider.

Tags: meta

Subscribe

About Tech News Day

In just 10 minutes you will have all your leadership tech news needs covered. Our Editors browse the top tech news sites for you, get rid of the fluff and post summaries of the best. Our content is created by trained professionals and enhanced for IT leaders using leading edge artificial intelligence.

About

Tech Newsday

Tech News Day picks the new, most relevant tech stories.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways.

SUBSCRIBE

Categories

  • Artificial Intelligence
  • Auto Tech
  • Blockchain
  • Careers & Education
  • Channel Strategy
  • Cloud
  • Communications & Telecom
  • Companies
  • Data & Ananytics
  • Development
  • Digital Transformation
  • Distribution
  • Diversity & Inclusion
  • eCommerce
  • Emerging Tech
  • End User Hardware
  • Engineering
  • Financial
  • Fintech
  • Future of Work
  • Governance
  • Government & Public Sector
  • Human Resources
  • Infrastructure
  • IoT
  • Leadership
  • Legal
  • Legislation & Regulation
  • Managed Services & Outsourcing
  • Marketing
  • Martech
  • Medical
  • Mobility
  • Not for Profit
  • Open Source
  • Operations
  • People
  • Podcasts
  • Privacy
  • Security
  • Service
  • Smart Home
  • SMB
  • Social Networks
  • Software
  • Supply Chain
  • Sustainability
  • Today's News
  • Top Stories This Week
  • Women in Tech
  • Home
  • Today’s News
  • About
  • Privacy
  • Contact

2022 Tech News Day

No Result
View All Result
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News

2022 Tech News Day

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00