Issues are transferring quick within the metaverse, and within the wider world of web3 as an entire. Right here’s what it’s worthwhile to know from this previous week:
Meta Platforms plans to terminate the lease at its 225 Park South workplace location in New York Metropolis, per experiences. Information of the upcoming closure arrives on the heels of a grim milestone for Meta: Final week, the corporate’s founder and chief government Mark Zuckerberg introduced the primary main funds lower within the almost 20-year historical past of the corporate (which was initially based as Fb in 2004), plus a hiring freeze and anticipated layoffs that can doubtless go away the corporate with a smaller workforce in 2023 than it has presently, in response to Bloomberg.
Meta has lately been spending huge quantities of capital in its efforts to be a first-rate mover within the metaverse, a bet which can or could not but repay. In the ultimate days of September, the corporate’s inventory hit its lowest level since 2019.
Tim Cook dinner casts doubt on the way forward for VR, underscores enthusiasm for AR
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