💡Meta’s journey with Reality Labs: Oculus VR was acquired in 2014 for twice the price of Instagram. By 2019, Reality Labs’ spend hit $5B/year, exceeding $10B by 2020 with the Quest debut. Then in 2021, the company rebrands to Meta. Those are the events known to outsiders. Discover key internal events and shifts that shaped Meta’s Metaverse vision from CTO Andrew Bosworth, who joined Facebook in 2006 and led Reality Labs from 2017. His candor about the challenges and “wrong paths” taken en route to technological breakthroughs adds credibility and authenticity. 👇 #technology #innovation #future #digitaltransformation #metaverse #spatialcomputing #linkedin #leadership
💡“New technologies don’t just come into the world ready to go…you have to pay for the 10 wrong paths you took before you get to the 11th one that does work.” - Andrew Bosworth, Meta CTO. Dive into the interview by Matthew Ball (author, investor, and advisor known for his expertise in the Metaverse and digital media. )on the Metaverse, VR/AR, AI, and the future of tech! 🌐📈 📈 Key Takeaways: • Path to 100MM Annual Headset Sales: Success hinges on creating compelling content, reducing device costs, and improving accessibility and comfort, addressing factors like motion sickness, weight, and ease of use. • Spending on Reality Labs: Meta has invested heavily in Reality Labs, with expenditures reaching $10 billion annually, emphasizing that these are investments in building future technology and ecosystems. • Role of AI: AI is critical for enhancing user interaction, creating immersive content, and personalizing experiences. AI developments have accelerated Meta’s roadmap, offering new possibilities for device functionality and user engagement. Overall, the interview highlights Meta’s commitment to making VR/MR technology more accessible and affordable, contrasting with Apple’s focus on delivering premium, high-end experiences. Both companies are pushing the boundaries of what’s possible in VR/MR, but their strategies and priorities differ significantly. Additionally, Meta places a strong emphasis on privacy and societal comfort, recognizing the importance of technology fitting harmoniously into our lives and addressing privacy concerns while advancing innovation. #technology #innovation #future #metaverse #spatialcomputing #digitaltransformation #mixedreality #linkedin #artificialintelligence https://lnkd.in/dwHs-iMa
Fascinating journey, Leila Hurstel. Bosworth's transparency in discussing the 'wrong paths' taken by Meta is a masterclass in resilience.
Bosworth's candor is refreshing in the tech industry.
Global Executive | Launching Brands & Bridging Markets | Former VC
9moBosworth's openness about the hurdles they faced really highlights the importance of perseverance in innovation, Leila Hurstel