Shares of Meta plunged 24% Thursday morning as investors and analysts digested the company's third-quarter earnings miss and a weak fourth-quarter outlook. Shares were trading under $100 at market open, the lowest price since 2016. From a report: The parent company of Facebook reported quarterly revenue of $27.7 billion Wednesday, a decline of more than 4% year over year and its second straight quarterly decline. Its profit plummeted 52% to $4.4 billion. Meta warned the fourth quarter would be more of the same, issuing a weaker-than-expected outlook. It's expecting revenue for the fourth quarter to be $30 billion to $32.5 billion. Analysts were expecting sales of $32.2 billion. Meta CEO Mark Zuckerberg reiterated his commitment to spending billions of dollars developing the metaverse. Meta's Reality Labs unit, which is responsible for developing the virtual reality and related augmented reality technology that underpins its plans for the metaverse, has lost $9.4 billion so far this year. Morgan Stanley downgraded the stock Thursday, citing higher spending. Analyst Brian Nowak slashed his price target to $105 from $205. He expects the company's issues to persist as Meta continues to increase spending to build out its AI capabilities. Further reading: Facebook's worth less than Home Depot.

The social networking company, which is trying to shift into the so-called metaverse, posted falling sales and said it was "making significant changes" to operate more efficiently. The New York Times reports: This year, Meta's earnings have been hit hard by its spending on the metaverse and its slowing growth in social networking and digital advertising. In July, the Silicon Valley company posted its first sales decline as a public company. Its stock has plunged more than 60 percent this year. On Wednesday, Meta continued that trajectory and indicated that the decline would not end anytime soon. It said it would be "making significant changes across the board to operate more efficiently," including by shrinking some teams and by hiring only in its areas of highest priority.

The company reported a 4 percent drop in revenue for its third quarter -- to $27.7 billion, down from $29 billion a year earlier. Net income was $4.4 billion, down 52 percent from a year earlier. Spending soared by 19 percent from a year earlier. The company's metaverse investments remained troubled. Meta said its Reality Labs division, which is responsible for the virtual reality and augmented reality efforts that are central to the metaverse, had lost $3.7 billion compared with $2.6 billion a year earlier. It said operating losses for the division would grow "significantly" next year. For the current quarter, Meta forecast revenue of between $30 billion and $32.5 billion, which would be down from a year ago. The company's shares fell more than 11 percent in after-hours trading. In a statement, Mr. Zuckerberg, Meta's founder and chief executive, acknowledged "near-term challenges on revenue." But he added that "the fundamentals are there for a return to stronger revenue growth" and that he was "approaching 2023 with a focus on prioritization and efficiency."

Palmer Luckey is not a fan of what Mark Zuckerberg has so far produced for the metaverse, although he does think it could eventually succeed. Insider reports: The Oculus founder, speaking Monday during The Wall Street Journal conference Tech Live, said of Horizon Worlds, Facebook's core metaverse product: "I don't think it's a good product." "It's not good, it's not fun," Luckey said of Horizon. "Most people on the team would agree it's not a good product." "Mark Zuckerberg is the number one virtual reality fan in the world," Luckey said. "He's put in more money and time to it than anyone ever in history."

He said the amount of money Zuckerberg is putting behind the project alone means there's a chance Horizon Worlds will get better and the metaverse will be a success. "It is terrible today, but it could be amazing in the future," he said. "Zuckerberg will put the money in to do it. They're in the best position of anyone to win in the long run." It will take time and involve mistakes, he added, comparing it to a "project car," a fancy automobile that the owner spends a lot of money on as a hobby. "You hack at it and maybe no one else sees the value," Luckey said. "Will they stumble? Yeah sure. Will they waste money? Will they add things to their project car that they later hack off? Yes." The report notes that Facebook lost $10 billion last year on its metaverse projects, and is expected by to lose more than $10 billion again this year.

The Federal Trade Commission plans to take the rare step of bringing individual sanctions against the CEO of alcohol delivery company Drizly for data privacy abuses, following allegations that the company's security failures under his watch exposed the personal information of about 2.5 million customers. From a report: The proposed order will follow Drizly CEO James Cory Rellas to future businesses, requiring him to implement a security program at any companies he runs that collect information from more than 25,000 people. The order will also apply to the company itself, which is now a subsidiary of the ride-hailing service Uber. Under the terms of the FTC action, Rellas and Drizly will have to destroy unnecessary data, implement new data controls and train employees about cybersecurity.

In singling out Rellas, the FTC signaled it could use a wider range of tools to address data privacy abuses under the leadership of chair Lina Khan, who was widely expected to bring tougher oversight of the tech industry. The inclusion of Rellas follows a push from Democrats to more aggressively penalize individual executives involved in major data privacy breaches. Democrats on the commission previously criticized the agency's record-setting settlement with Facebook over the Cambridge Analytica data scandal because it did not name Facebook CEO Mark Zuckerberg.

Altimeter Capital Chair and CEO Brad Gerstner said in an open letter to the company and CEO Mark Zuckerberg on Monday that Meta has too many employees and is moving too slowly to retain the confidence of investors. From a report: The Meta investor recommends a plan to get the company's "mojo back" including reducing headcount expenses by 20% and limiting the company's pricey investments in "metaverse" technology to no more than $5 billion per year. "Meta needs to re-build confidence with investors, employees and the tech community in order to attract, inspire, and retain the best people in the world," Gerstner wrote in the letter. "In short, Meta needs to get fit and focused." The letter is the latest sign that Meta investors are starting to express reservations about the company's recent performance. Meta stock is down over 61% in 2022 so far.

At the end of the second quarter this year, Altimeter Capital held over 2 million shares of Meta. It's also a vote of less confidence about the company's ambitions in the world of virtual and augmented reality. Meta changed its company name from Facebook to better focus on its VR hardware and software, and is spending $10 billion per year on the technology. On Oct. 11, Meta announced a new high-end VR headset, the Quest Pro. However, there are few signs that VR or some of Meta's metaverse apps, like Horizon Worlds, are catching on with the public beyond early adopters. "In addition, people are confused by what the metaverse even means," Gerstner wrote. "If the company were investing $1-2B per year into this project, then that confusion might not even be a problem. An estimated $100B+ investment in an unknown future is super-sized and terrifying, even by Silicon Valley standards."

The Verge says Facebook "might ban news sharing in Canada if the country passes legislation forcing the company to pay news outlets for their content." They cite a post Friday from Facebook's parent company Meta, and a recent report in the Wall Street Journal. If this type of law sounds familiar, it's because Australia introduced a similar one last year, called the News Media Bargaining Code, which also requires Facebook and Google to pay for news included on the platforms. Although Australia eventually passed the law, it wasn't without significant pushback from Facebook and Google. Facebook switched off news sharing in the country in response, and Google threatened to pull its search engine from the country.

While Google later walked back on its plans after striking deals with media organizations, Facebook reversed its news ban only after Australia amended its legislation. Facebook's temporary ban not only affected news outlets but also ripped down posts from government agencies, like local fire and health departments. Earlier this year, a group of Facebook whistleblowers claimed the move was a negotiation tactic, alleging Facebook used an overly broad definition of what's considered a news publisher to cause chaos in the country. The company maintains the disorder was "inadvertent."

Now Facebook's prepared to put a block on news in Canada if the country doesn't change its legislation....

"If this draft legislation becomes law, creating globally unprecedented forms of financial liability for news links or content, we may be forced to consider whether we continue to allow the sharing of news content on Facebook in Canada as defined under the Online News Act," Meta states.

Engadget writes: After nearly three weeks of escalating rhetoric, The Wire is retracting its reporting on Meta.

On Sunday, the nonprofit publication said it had discovered "certain discrepancies" with the material that had informed its reporting on the social media giant since October 6th. "The Wire believes it is appropriate to retract the stories," the outlet said, pointing to the fact it could not authenticate two emails that were critical to its previous coverage of Meta. One of the emails The Wire said it could not verify includes a message the outlet had attributed to Meta spokesperson Andy Stone.

"Our investigation, which is ongoing, does not as yet allow us to take a conclusive view about the authenticity and bona fides of the sources with whom a member of our reporting team says he has been in touch over an extended period of time," The Wire said. "We are still reviewing the entire matter, including the possibility that it was deliberately sought to misinform or deceive The Wire."
The Wire had reported Meta "had given an influential official from India's ruling party the extraordinary power to censor Instagram posts that he didn't like," according to the Washington Post. But it took a weird turn when The Wire published a video of a takedown request, according to Engadget.

"One day later, Meta said an internal investigation found the video showed a Workspace account created on October 13th, suggesting someone made the account to back up The Wire's reporting."

Disinformation has "metastasized" since experts began raising alarms about the threat, reports the New York Times.

"Despite years of efforts by the media, by academics and even by social media companies themselves to address the problem, it is arguably more pervasive and widespread today." Not long ago, the fight against disinformation focused on the major social media platforms, like Facebook and Twitter. When pressed, they often removed troubling content, including misinformation and intentional disinformation about the Covid-19 pandemic. Today, however, there are dozens of new platforms, including some that pride themselves on not moderating — censoring, as they put it — untrue statements in the name of free speech....

The purveyors of disinformation have also become increasingly sophisticated at sidestepping the major platforms' rules, while the use of video to spread false claims on YouTube, TikTok and Instagram has made them harder for automated systems to track than text.... A report last month by NewsGuard, an organization that tracks the problem online, showed that nearly 20 percent of videos presented as search results on TikTok contained false or misleading information on topics such as school shootings and Russia's war in Ukraine. "People who do this know how to exploit the loopholes," said Katie Harbath, a former director of public policy at Facebook who now leads Anchor Change, a strategic consultancy.

With the [U.S.] midterm elections only weeks away, the major platforms have all pledged to block, label or marginalize anything that violates company policies, including disinformation, hate speech or calls to violence. Still, the cottage industry of experts dedicated to countering disinformation — think tanks, universities and nongovernment organizations — say the industry is not doing enough. The Stern Center for Business and Human Rights at New York University warned last month, for example, that the major platforms continued to amplify "election denialism" in ways that undermined trust in the democratic system.

Pizza slices, cupcakes, and carrots are just a few emojis that anti-vaccine activists use to speak in code and continue spreading COVID-19 misinformation on Facebook. Ars Technica reports: Bloomberg reported that Facebook moderators have failed to remove posts shared in anti-vaccine groups and on pages that would ordinarily be considered violating content, if not for the code-speak. One group that Bloomberg reviewed, called "Died Suddenly," is a meeting ground for anti-vaccine activists supposedly mourning a loved one who died after they got vaccines -- which they refer to as having "eaten the cake." Facebook owner Meta told Bloomberg that "it's removed more than 27 million pieces of content for violating its COVID-19 misinformation policy, an ongoing process," but declined to tell Ars whether posts relying on emojis and code-speak were considered in violation of the policy.

According to Facebook community standards, the company says it will "remove misinformation during public health emergencies," like the pandemic, "when public health authorities conclude that the information is false and likely to directly contribute to the risk of imminent physical harm." Pages or groups risk being removed if they violate Facebook's rules or if they "instruct or encourage users to employ code words when discussing vaccines or COVID-19 to evade our detection." However, the policy remains vague regarding the everyday use of emojis and code words. The only policy that Facebook seems to have on the books directly discussing improper use of emojis as coded language deals with community standards regarding sexual solicitation. It seems that while anti-vaccine users' emoji-speak can expect to remain unmoderated, anyone using "contextually specific and commonly sexual emojis or emoji strings" does actually risk having posts removed if moderators determine they are using emojis to ask for or offer sex.

In total, Bloomberg reviewed six anti-vaccine groups created in the past year where Facebook users employ emojis like peaches and apples to suggest people they know have been harmed by vaccines. Meta's seeming failure to moderate the anti-vaccine emoji-speak suggests that blocking code-speak is likely not currently a priority. Last year, when BBC discovered that anti-vaccine groups were using carrots to mask COVID-19 vaccine misinformation, Meta immediately took down the groups identified. However, BBC reported that soon after, the same groups popped back up, and more recently, Bloomberg reported that some of the groups that it tracked seemed to change names frequently, possibly to avoid detection.

"Good news, readers: After using nearly every virtual reality headset made in the last seven years, including the latest $1,500 goggles from Mark Zuckerberg's Meta, I've seen the best of what the metaverse could offer," writes the New York Times' Brian Chen. "Yes, the best is already here, and has been for quite some time. It's video games." An anonymous reader shares an excerpt from his report: At Meta's Burlingame office, I strapped on the Quest Pro to see what was new. Meta highlighted three features: the headset's higher-definition picture, which is receiving quadruple the number of pixels of its predecessor, the $400 Quest 2; the array of cameras embedded into the headset, which can now create a real-time rendering of your facial expressions and eye movements; and new motion controllers with improved pressure sensitivity so you can squeeze a virtual object gently or grab it aggressively.

Meta employees and app developers gave me an hourlong tour through software tailored for the headset. I created a digital avatar of my face that mimicked my grins and frowns as I raised a curious brow. I made 3-D drawings and tossed virtual darts. I found the improved graphics and controllers impressive (and my animated avatar a bit creepy), but after I removed the headset and returned to reality-reality, I could only imagine wanting to use these new features to play games. My favorite virtual-reality game, Blaston, which was released in 2020 and involves players shooting one another in a virtual arena, would probably benefit from the improved motion controllers to make trigger squeezes for the different guns more realistic.PokerStars VR, where gamers gather around a virtual card table to play Texas hold 'em, would be more fun if we could pick up tells through each player's facial expressions.

By the end of the demo, I was also doubtful that I would get any work done with this headset. In a promotional video for the product, Meta suggested that the Quest Pro could be a multitasking tool for workers juggling meetings while scrolling through emails and other tasks. But the device's battery lasts only one to two hours, according to Meta. (The headset can still be used while plugged in, but using a computer is less complicated.) This is the reality on which we should base our buying decisions. Not even Meta seems to believe many people will buy the Quest Pro. It said the device's target audience would be early adopters, designers and businesses. If you fall into any of those camps, I recommend a wait-and-see approach to gauge whether useful virtual-reality applications become available for your profession.

The company left a more obvious niche off its target list: hard-core gamers willing to spend lots of money on every piece of new gaming hardware. They are in for a treat. In addition to providing access to high-resolution virtual reality games made for the Quest Pro, the headset will work with hundreds of games already made for the Quest 2. Many of those older Quest 2 titles are quite good. Games that get your heart pumping and make you break a sweat, likeBeat Saber and FitXR, which both involve swinging your arms around to hit objects, are a boon in an era when people need to wear smartwatches to remind them to stand up. None of this -- a first impression that the Quest Pro will be great for playing games and primarily be used for entertainment -- is a bad thing. The fact that we can get visually stunning, immersive gaming in a lightweight, wireless headset means virtual reality has come a long way in less than a decade. For now, that's the only reason to buy one of these.

A Russian lawmaker on Wednesday urged state institutions to stop using WhatsApp messenger and the industry ministry sought to promote domestically produced software as Russia tries to wean itself off Western technology. From a report: WhatsApp owner Meta Platforms was found guilty of "extremist activity" in Russia in March and later added to financial monitoring agency Rosfinmonitoring's list of "terrorists and extremists." Meta's lawyer in court has said Meta was not carrying out extremist activity and was against Russophobia. Russia blocked Meta's Facebook and Instagram in March, objecting to restrictions on Russian media and some posts permitted by users in Ukraine. Widely used among Russians, WhatsApp has always remained available, but Anton Gorelkin, deputy head of the Russian parliament's committee on information policy, on Wednesday said he personally would be deleting the app and recommended a wider ban.

News outlet The Wire is investigating its own reporting amid an explosive dispute with Meta. From a report: Last week, The Wire, a small but gutsy Indian news outlet, seemed to land one explosive punch after another on Meta, the social media giant that owns Instagram and Facebook. The California company had given an influential official from India's ruling party the extraordinary power to censor Instagram posts that he didn't like, The Wire reported, citing a document leaked by a Meta insider. A day later, The Wire reported that Meta executives were scrambling to find the mole who leaked the story, citing a new internal email the publication had obtained.

Finally, after Meta executives denied both reports on social media -- and, in an unusual move, insisted that The Wire's documents appeared fabricated -- The Wire released a lengthy rebuttal on Saturday that the outlet said would lay to rest any doubts about its reporting. It did not. Instead, The Wire is now investigating itself. The publication said Tuesday it launched an internal review of its stories about Meta, adding a new twist to a sensational dispute between a reputed Indian news organization and a powerful Silicon Valley company -- a clash that has captivated the technology and media industries in both India and the United States.
UPDATE (10/23): The Wire has retracted their story.

Apple has restored Russian social network VKontatke and webmail provider Mail.Ru to the App Store, three weeks after removing them both for sanctions violations. From a report: The two services, home-grown versions of Facebook and Gmail with domestic market share to match, were removed from Apple's platforms in late September, following a wave of British sanctions that targeted the financial organisations that own them. At the time of removal, Apple had said it was complying with the sanctions issued by the UK government.

Meta has been ordered to sell gif platform Giphy for the second time by the UK competition regulator, bringing an end to the $315mn deal following a two-year antitrust battle. From a report: The Competition and Markets Authority said on Tuesday that Meta's purchase of New York-based Giphy -- the biggest provider of animated images known as gifs to social networks -- would "limit choice for UK social media users and reduce innovation in UK display advertising." The CMA first told Meta to unwind the deal last November, but was forced by the Competition Appeal Tribunal in July to reconsider its conclusion after it upheld one of the social media company's grounds of appeal.

The CMA's final decision underlines the pressure on Silicon Valley's biggest technology companies from the UK regulator, which has broad powers to intervene in tie-ups touching British consumers even when the parties are based overseas. The Giphy deal marked the first time the regulator had moved to dismantle a completed Big Tech deal. Meta on Tuesday said it was "disappointed by the CMA's decision" but accepted the ruling as "the final word on the matter."

Mark Zuckerberg, writing in a Facebook post: WhatsApp is far more private and secure than iMessage, with end-to-end encryption that works across both iPhones and Android, including group chats. With WhatsApp you can also set all new chats to disappear with the tap of a button. And last year we introduced end-to-end encrypted backups too. All of which iMessage still doesn't have.

It's been one year since Facebook changed its name to "Meta Platforms," remembers The Street. So after Mark Zuckerberg "bought the Oculus Quest VR headset, rebranded it Meta Quest, and formed Reality Labs solely to work on all projects related to the metaverse" — what happened next? Meta's shares and market value have dropped and Zuckerberg's personal fortune has shrunk, falling from $125 billion in January to $49.1 billion at last check, putting him No. 23 on the Bloomberg Billionaires Index.

Reality Labs is facing the hard reality that it's pouring out gallons of red ink, losing $10 billion last year and about $5.7 billion so far in 2022.

And leaked internal documents reveal discussions between Reality Labs management and employees, indicating that "Horizon Worlds" [Meta's flagship metaverse for consumers] is ridden with game-breaking bugs, leading to a "quality lockdown" for the rest of the year.
In fact, Horizon Worlds is also "failing to meet internal performance expectations," reports CNBC, citing internal company documents reviewed by The Wall Street Journal: Meta initially aimed to reach 500,000 monthly active users in Horizon Worlds by the end of the year, but the current figure is less than 200,000, according to the report. Additionally, the documents showed that most users didn't return to Horizon after the first month on the platform, and the number of users has steadily declined since spring, the Journal said.

Only 9% of worlds are visited by at least 50 people, and most are never visited at all, according to the report."
"An empty world is a sad world," one internal document reportedly adds. And Fortune cited some more discouraging statistics from the Journal's article: - Meta wants users to create their own worlds using Horizon's tools. Less than 1% are doing so.

- A tip feature to reward creators for their efforts has generated payouts of under $500 globally. Cumulatively, Horizon's worlds have brought in only about $10,000 in "In-World Payments".

- Retention rates for the Quest virtual-reality headsets — sold by Meta to access Horizons — have dropped in each of the past three years.
CNBC also notes that the report "comes as the company's stock falls, user numbers decline and advertisers cut spending. Meta shares are down 62% so far this year...." So how did Meta respond to the Journal's article? A Meta spokesman told The Wall Street Journal that the company continues to make improvements to the metaverse, which was always meant to be a multiyear project. Representatives for Meta didn't immediately respond to CNBC's request for comment.

Meta has said it will release a web version of Horizon for mobile devices and computers this year, but the spokesman didn't have any launch dates to disclose.

"Public officials in Washington for years have sparred along partisan lines over whether social media platforms take down too much or too little hate speech and misinformation," reports the Washington Post's politics/tech newsletter, The Technology 202.

"A council launching this week aims to sidestep those disputes by proposing reforms that tackle issues of bipartisan concern, including children's safety and national security." The newly minted Council for Responsible Social Media, set up by the nonpartisan nonprofit Issue One, features a wide-ranging and influential lineup of former U.S. lawmakers and federal officials, advocates, scholars, industry leaders and whistleblowers... "This is not a think tank. This is an action tank," former Democratic House majority leader Dick Gephardt told The Technology 202. "We want to see results...."

"The core goal of the commission is to really show that there are bipartisan paths forward ... that involve having companies have to actually talk about what is their role in society," Facebook whistleblower Frances Haugen said in an interview. Haugen said the council can move the debate around social media accountability forward by focusing on areas of "common ground," like concerns around algorithmic amplification, transparency and platform design choices. Haugen said proposals the council might explore include giving users, particularly children, the option to "reset algorithms" so they do not keep wandering down the same risky "rabbit holes." By focusing on systemic issues, she said, the group might be able to help build support for ideas that sidestep thorny speech debates. The council may also rally around legislation that already has bipartisan support, such as recent Senate bills on kids' online safety and platform transparency, Haugen said....

The council is also poised to shine a brighter spotlight on how U.S. companies may be playing into the hands of foreign adversaries — scrutiny that has largely focused on TikTok, owned by Beijing-based tech giant ByteDance.... Haugen said one concept the group may explore is requiring "consistent reporting" by companies about how much they are investing to counter foreign influence operations.
The Platform Accountability and Transparency Act (introduced in 2021) "would require social media firms to comply with researcher data requests for external audits," reports the Guardian. "Under the proposed law, failure to do so could result in loss of legal protections for content hosted on their platform."

"There are a number of large opportunities today that were not on the table a year ago in terms of moving forward in a bipartisan way," Haugen told the Guardian. "They just need a push over the finish line."

The company formerly known as Facebook earlier this week announced -- and demonstrated -- that avatars on its metaverse will soon have legs. Here's an update on that: While the updates bringing full-body avatars aren't expected until 2023, Zuckerberg was clearly seen jumping around in the video, giving everyone an early look at the tech. Or was he?

Anyone who has ever been around any piece of marketing ever made should know by now that not everything is as it seems when a company is trying to sell you something. And in this case, the video Meta showed off was made with some help. As UploadVR's Ian Hamilton has since reported, Meta has issued a follow-up statement, which says, "To enable this preview of what's to come, the segment featured animations created from motion capture."

Earlier this week, Meta revealed the Meta Quest Pro, the company's most premium virtual reality headset to date with a new processor and screen, dramatically redesigned body and controllers, and inward-facing cameras for eye and face tracking. "To celebrate the $1,500 headset, Meta made some fun new additions to its privacy policy, including one titled 'Eye Tracking Privacy Notice,'" reports Gizmodo. "The company says it will use eye-tracking data to 'help Meta personalize your experiences and improve Meta Quest.' The policy doesn't literally say the company will use the data for marketing, but 'personalizing your experience' is typical privacy-policy speak for targeted ads." From the report: Eye tracking data could be used "in order to understand whether people engage with an advertisement or not," said Meta's head of global affair Nick Clegg in an interview with the Financial Times. Whether you're resigned to targeted ads or not, this technology takes data collection to a place we've never seen. The Quest Pro isn't just going to inform Meta about what you say you're interested in, tracking your eyes and face will give the company unprecedented insight about your emotions. "We know that this kind of information can be used to determine what people are feeling, especially emotions like happiness or anxiety," said Ray Walsh, a digital privacy researcher at ProPrivacy. "When you can literally see a person look at an ad for a watch, glance for ten seconds, smile, and ponder whether they can afford it, that's providing more information than ever before."

Meta has already developed a ton of technology for these purposes. The company filed a patent for a system that "adapts media content" based on facial expressions back in January, and it has experimented with harnessing and manipulating people's emotions for more than a decade. In January, it patented a mechanical eyeball. Despite the public's privacy concerns about Meta, it may be hard for people who use the company's products to resist activating the eye-tracking features because of what they will allow your avatar to do.

"If Meta is successful, there's going to be a stigma attached with denying that data," ProPrivacy's Walsh said. "You don't want to be the only one looking like an expressionless zombie in a virtual room full of people smiling and frowning." Of course, eye-tracking data could be used to determine what you're thinking about buying. Maybe you spend a few extra seconds glancing at an expensive digital fedora, and the company sends you a coupon code an hour later. But measuring your emotions opens up a whole new arena for targeted ads. Digital marketing is all about showing you the right ad at the right moment. Walsh says advertisers could build campaigns with content specifically designed for people who seem frustrated, or more cheerful ad for people who are in a good mood.

An anonymous reader shares a report: Last year, former Oculus CTO (and current company advisor) John Carmack threw down the gauntlet for Meta's near-term metaverse plans. By the 2022 Meta Connect conference, Carmack said last October, he hoped he'd be in his headset, "walking around the [virtual] halls or walking around the stage as my avatar in front of thousands of people getting the feed across multiple platforms." Carmack's vision didn't come to pass Tuesday, as a jerky and awkward Carmack avatar gave one of his signature, hour-long unscripted talks amid a deserted VR space, broadcast out as plain old 2D video on Facebook.

"Last year I said that I'd be disappointed if we weren't having Connect in Horizon this year," Carmack said by way of introduction. "This here, this isn't really what I meant. Me being an avatar on-screen on a video for you is basically the same thing as [just] being on a video." That set the tone for a presentation in which Carmack said that "there's a bunch that I'm grumpy about" regarding the current state of Meta's current VR hardware and software. While that grumpiness was somewhat tempered with talk of recent improvements and hope for the future of virtual reality, Carmack seemed generally frustrated with the direction Meta as a whole is taking its VR efforts.

[...] Carmack also seemed skeptical that the $1,499, feature-laden Quest Pro was the right product for Meta to be focusing on at this time. "I've always been clear that I'm all about the cost-effective mass-market headsets being the most important thing for us and for the adoption of VR," Carmack said. "And Quest Pro is definitely not that..." As a "counterpoint" to the push for the Quest Pro in the Meta offices, Carmack says he "personally still [tries] to drum up interest internally in this vision of a super cheap, super lightweight headset." His rallying cry, he says, is a target of "$250 and 250 grams" for a headset that cuts out as many extraneous features as possible while still being usable (the Quest Pro weighs 722 grams while the Quest 2 is 503 grams). That could help bring "super light comforts" to "more people at low-end price points. We're not building that headset today, but I keep trying," Carmack said with some exasperation.