Mark Zuckerberg once pitched the Metaverse as the next era of the internet, a sweeping bet that reshaped Facebook into Meta and redirected tens of billions of dollars into virtual worlds. Now the ...

A version of this story will appear in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here. It appears Meta may finally be ready to put the metaverse out of its misery.

At the heart of the metaverse derangement was the persistent inflation of its definition. McKinsey & Company proclaimed in June 2022 that the metaverse could generate “up to $5 trillion in impact by ...

Meta reorganizes its metaverse unit, shifting Vishal Shah to its AI division, per an internal memo. Gabriel Aul and Ryan Cairns now lead Meta's metaverse efforts, focusing on VR and mobile. Meta CTO ...

Forbes contributors publish independent expert analyses and insights. Tim Bajarin covers the tech industry’s impact on PC and CE markets. When Facebook CEO Mark Zuckerberg announced he would rename ...

Meta’s enormous bet on virtual reality ended last week, with the company reportedly laying off roughly 1,500 employees from its Reality Labs division — about 10% of the unit’s staff — and shutting ...

A version of this story will appear in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here. Shares of the company formerly known as Facebook shot up 7% early Thursday in ...