Mark Zuckerberg's $80 billion Metaverse endeavor officially scrapped: 'Sometimes … we get things wrong' [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
Meta has scaled back its once-ambitious plans for a fully immersive virtual world, signaling a major shift in strategy, The New York Times reported This week, the company announced it would stop adding new virtual reality experiences to its flagship platform, Horizon Worlds . While some features will remain, the original version of a fully built-out metaverse is no longer moving forward. The move marks a dramatic turn for a project that has cost an estimated $80 billion since 2021. At the time, Zuckerberg championed the metaverse as the next evolution of the internet — a digital realm where people could work, socialize, and even replace daily commutes with virtual interactions. "Teleporting around the metaverse is going to be like clicking a link on the internet," Zuckerberg said in a 2021 interview. "Dropping our daily commutes will mean less time stuck in traffic and more time doing things that matter. And it'll be good for the environment." Yet public adoption fell short
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META
News
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META
Earnings
- 1/28/26 - Beat
META
Sec Filings
- 3/27/26 - Form SCHEDULE
- 3/25/26 - Form 4
- 3/24/26 - Form 4
- META's page on the SEC website