Shulou(Shulou.com)11/24 Report--

December 20 (Xinhua)-- on Monday, local time, the chief technology officer of Meta, the parent company of Facebook, announced that it would continue to spend 20% of its total expenditure costs on Reality Labs, a major component of Meta's meta-universe program, in 2023.

Andrew Bosworth, Meta's chief technology officer, said that was little changed from the company's 18 per cent spending on Reality Labs in the third quarter. This means that most of Meta's investment will continue to flow to what it calls the "app family", namely Facebook, Instagram, WhatsApp and Messenger.

Meta's shares have fallen nearly 65% so far this year, and many question Meta CEO Mark Zuckerberg's big bet on meta-universe because the company has cut costs in other areas, including widespread layoffs.

Reality Labs reported an operating loss of $9.4 billion in the first nine months of this year. By contrast, Meta's series of apps generated a profit of about $32 billion over the same period.

Bosworth says 2022 will be harder than expected. "Economic challenges around the world, coupled with pressure on Meta's core business, have raised doubts about the investments we are making," he wrote. "nevertheless, withdrawing future bets and focusing only on short-term goals could have 'catastrophic consequences'."

Bosworth added: "We believe that this level of investment is reasonable for a company committed to maintaining a leading position in the world's most competitive and innovative industries."

Bosworth responds to criticism that the company has shifted its focus from core platforms such as Instagram to meta-universe. "We will continue to invest most of our investment in our app family because we believe that the advantages of core applications can support an ambitious agenda for the future," he wrote. "

The article was published after the departure of John John Carmack, a consultant CTO for Meta's virtual reality project, including Meta Quest helmets, who left the company last week. In his resignation letter, Carmack said he was "tired of fighting Meta".

In response, Bosworth explained that Meta Quest Pro is one of the "basic technologies to realize our vision for the future" and will be remembered in 2022 because these technologies are "delivered to developers and users for the first time".

He added: "in good times, it's easy to make large-scale, ambitious investments in the future. But when the economy gets bad, the reverse is easy, which reduces your ambition, insists on doing the safest and most profitable thing right now, and makes as much money out of it as possible."

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