Meta isn't doing well. Facebook isn't expanding like it used to, and Meta's advertising, VR, and metaverse businesses aren't performing well.
Reuters reports that Meta warned Reality Labs staff to expect layoffs. Reality Labs built the metaverse. Facebook hasn't hid its revenue slowing issues
In light of this results period's spending projection, we're pausing expansion, a Meta spokeswoman told CNN
Meta's ad revenue growth slowed in 2022's first quarter. Facebook reported a drop in user numbers between Q3 and Q4 of 2021.
Meta is at a crucial moment in its existence, pouring through capital to develop a big metaverse player while experiencing slow revenue growth.
Apple's ATT architecture has impacted Facebook's ad revenue possibilities. Mark Zuckerberg said iOS would cost Facebook $10 billion in 2022.