In the midst of the financial crisis Metabegan to suspend or cancel many of its projects. social media giant portal its smart screen and the long-talked smart watch stopped. It was decided to reconsider investments in Metaverse.
Meta’s smartwatch canceled before it’s released
According to information reported by Reuters Meta CEO Mark Zuckerbergmakes radical decisions for the future of the company. While the Portal canceled the smart screen, it stopped the newly started smart watch project. After the dismissal of 11 thousand people, it was decided to re-evaluate the resources.
At the meeting, led by Mark Zuckerberg, it was stated that the work on the Portal will end. Meta’s Portal device allowed people to make video calls, and its sales increased during the pandemic period.
The slaughter began in Meta, which lost 730 billion dollars!
Meta is transitioning to the layoff process. The company, which has lost $ 730 billion in 16 months, will fire thousands of people weekly.
It was stated that Portal accounts for less than 1 percent of the global market. Thereupon, the company changed its strategy for Portal in June and decided to sell Portal only to businesses. The recent financial crisis seems to have brought the complete end of Portal.
“Entering the business segment would take so long and so much investment that it felt like the wrong way to invest your time and money,” Andrew Bosworth, Chief Technology Officer, said at the meeting.
In addition to the Portal, it was reported that the smartwatch project was also suspended. Bosworth stated that the smartwatch team will work with the augmented reality team. He also said that half of Meta’s investments in Reality Labs will be devoted to AR projects.
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