Meta Plans to Invest Heavily in VR Despite Recent Challenges

Chris Wyatt -

Despite facing challenges such as layoffs and a lack of widespread adoption of its metaverse, Facebook’s virtual reality (VR) subsidiary, Meta, is still planning to invest heavily in VR in 2023. According to a statement from Facebook CTO Andrew Bosworth, the company’s Reality Labs department, which is responsible for the development of the metaverse and VR technologies, will receive 20% of Facebook’s overall investments. Bosworth emphasized that the company remains committed to its initial investment in the metaverse, despite the public backlash and cost of over $10 billion.

Bosworth also pointed to the progress made in VR technologies in 2022, including the development of mixed reality tools and advances in hand, eye, and face tracking. He highlighted the importance of the VR creator community and noted that Meta is focused on developing true augmented reality (AR) glasses, which he described as requiring “a massive set of breakthroughs and inventions.” AI will also remain a key focus for the company, with Bosworth citing its investments in AI-powered systems such as Cicero, Reels, and its core ads systems.

In addition to sharing new metaverse hardware with the public, Meta will also host the Meta Quest Gaming Showcase, an event that will showcase new VR games, in the spring. However, Bosworth’s statement made no mention of the recent departure of former video game engineer and VR advocate John Carmack, who had overseen Meta’s VR division since 2014. Carmack had cited struggles in voicing his opinions as a reason for his departure.