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00:51 — Since Mark Zuckerberg decided to switch his company’s focus to the Metaverse, Meta’s profits have plummeted, knocking an estimated 60% off the company’s value.
01:02 — The adoption of Meta’s Horizon Worlds platform is weak, with reports that even the staff building the technology do not use the service outside of the office. The launch of the Meta Quest Pro VR headset, which became available yesterday, could be a turning point for the company’s fortunes.
01:20 — Many commentators have shunned the technology, focusing on the significant price tag that is a turn-off for consumers. Kieron thinks the device’s $1,500 price tag could be its saving grace.
01:37 — Up until this point, Meta has failed because it has been trying to do too much, too fast, Kieron says. The launch of an expensive headset, coupled with the recent collaboration with Microsoft, brings about an opportunity to focus on the professional market.
02:39 — While Meta has a lot to offer in this space, the company needs to hone its expertise and avoid spreading its net too widely.