A change in Apple’s privacy policy is expected to cost Meta (you know, the Facebook/Instagram/Whatsapp company) billions
That move has cost the company, as well, though, with Meta reporting a loss of more than $10 billion as it ramped up its Reality Labs division . That division is responsible for developing hardware like virtual reality sets that will ultimately become tools for accessing Meta’s new virtual world. While Reality Labs has been a feature of Meta for years now,says this was the first time it was included in an earnings report, signaling a shift in the company’s focus and investment in this space.
Despite the financial losses, the report showed an uptick in users across Meta’s suite of platforms, including Instagram and WhatsApp, with one notable exception—its flagship platform, Facebook. For the
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