SPAIN - 2021/10/28: In this photo illustration the new Facebook Meta logo is seen on a screen of a mobile phone.
Mark Zuckerberg announced the name changed of the social network Facebook, which will move to a second position after the new creation of Meta. (Photo Illustration by Paco Freire/SOPA Images/LightRocket via Getty Images)
Tech - News
Meta Is In Serious Trouble. Here's Why
By NADEEM SARWAR
Meta is experiencing serious challenges right now, with reports that the company has canceled plans for its first smartwatch and told employees at Reality Labs — the division tasked with building the metaverse in the first place — to brace for lay-offs. Facebook, too, announced revenue slowdowns and a decline in user count for the first time in its history.
The company is at a critical juncture in its history, burning through cash in efforts to build and be a major player in the metaverse while also facing the harsh reality of stagnant revenue growth. With Apple’s curbs on ad tracking and Google’s similar measures forthcoming, Meta is looking at a narrowing pipeline for ad revenue in the future.
Throw in talk of industry-wide privacy and anti-tracking measures plus the departure of COO Sheryl Sandberg, and the alarm bells are definitely ringing at Meta. At this point in time, Meta needs to deliver on its lofty promises and also come up with compelling metaverse products soon while avoiding any further scandals and keeping employee morale high.