Measures include flattening the organizational structure, just like in other parts of the company. Meta's Reality Labs - which is building the metaverse - would be also subject to the company's efficiency drive, Zuckerberg said on the company's fourth-quarter earnings call on February 1. READ MORE: Zuckerberg Tells Staff to Focus on Video Products as Metas Stock. To cut costs, Meta laid off 11,000 people in November and promised that 2023 is going to be a "year of efficiency." During a pivotal post-stock selloff meeting, Meta CEO Mark Zuckerberg gave. Meta isn't immune to these challenges either. Companies that over-hired during the e-commerce boom during the pandemic are now facing a drop-off in demand. The entire tech sector is reeling from mass layoffs. 2021 versus 2023īut times are very different now compared to 2021 when the Facebook parent announced its strategic pivot to the metaverse. His relentless pursuit into the metaverse cost Meta $13.7 billion in 2022. It often indicates a user profile.īut Zuckerberg's push into AI comes on the heel of its foray into another product - the metaverse, a version of virtual connectivity which Zuckerberg envisions as the future of the internet. Chief Executive Officer Mark Zuckerberg rallied his employees to focus on video products, after they watched the stock lose a quarter of its value. Last week, the social media giant announced its own new large language model, LLaMA, stating that its models are different to its rivals because they openly available to researchers and that they are smaller and less expensive to use than larger models.Account icon An icon in the shape of a person's head and shoulders. “We have a lot of foundational work to do before getting to the really futuristic experiences, but I’m excited about all of the new things we’ll build along the way.” “We’re exploring experiences with text (like chat in WhatsApp and Messenger), with images (like creative Instagram filters and ad formats), and with video and multi-modal experiences,” he said. By Naomi Nix and Kurt Wagner Social media Friday, 1:00 PM MYT Zuckerberg pressed on the importance of Facebook’s short-video products in the face of 'unprecedented level of competition', following a stock rout that knocked out a quarter of Meta's value. CEO Mark Zuckerberg rallied his employees to focus on video products after they watched the stock lose a quarter of its value. Zuckerberg said the new team would build “creative and expressive” tools to be used inside Meta’s products. Meta Chief Executive Officer Mark Zuckerberg rallied his employees to focus on video products, after they watched the stock lose a quarter of its value. The new group will be organized under current Chief Product Officer Chris Cox. Zuckerberg Tells Staff to Focus on Video Products as Meta’s Stock Plunges (Bloomberg) - Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news.Most Read from. Subscribe to Charged Retail for freeĬlick here to get the latest retail tech news free in your inbox each day Meta founder Mark Zuckerberg said the unit will combine several teams across the company, he wrote in a Facebook post. It comes after a wave of tech firms including Microsoft and JD.com moved to edge into the space after OpenAI released ChatGPT to much acclaim. Generative AI tools allow computers to write copy and create other media that resembles a human. Meta is creating a new product team to focus on generative AI similar to that of OpenAI’s ChatGPT and Google Bard.
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