May 3, 2023
Meta is still experiencing severe problems despite strong profit reports and a push toward AI.
According to a new Washington Post investigation, the company’s transition to a new normal has been turbulent, with many employees disillusioned by layoffs, bonus cutbacks, and the company’s tardy response to new trends of AI and chatbots.
According to WashingtonPost, over 21,000 people have been let off since November, leaving many dissatisfied and feeling misled. CEO Mark Zuckerberg has sought to unite staff, but according to the article, many are dissatisfied with the company’s wider mission. Bets on Meta Quest headsets and the larger metaverse, as well as video-chatting Portal gadgets, have all failed. Portal was stopped in 2022, and the Meta Quest devices have not proven lucrative, with operational expenditures of $13.7 billion last year.
Meanwhile, Meta’s competitors are investing more heavily in artificial intelligence, with TikTok capturing ad revenue and user attention despite the launch of Instagram and Facebook’s Reels. Google and Microsoft are also aggressively investing in artificial intelligence.
The sources for this piece include an article in SFGate.
