Zuckerberg's spending 'terrifying, even by Silicon Valley standards'
Altimeter said annual free cash flow can be doubled to $40 billion if it cut headcount by at least 20%, trimmed capital expenditure by at least $5 billion to $25 billion a year and capped annual investment in the metaverse to $5 billion instead of the current $10 billion.
Meta has spent billions and hired thousands of employees around the world to build the metaverse, which refers to a shared digital environment that uses augmented or virtual reality technology to make it feel more realistic.AFP via Getty Images But the company’s dreams have fallen short as the Reality Labs unit, which works on augmented and virtual reality, has continuouslyAltimeter said such huge investments “in an unknown future is super-sized and terrifying, even by Silicon Valley standards.”
Meta Platforms, which is set to report third-quarter results on Wednesday after markets close, declined to comment. Brad Gerstner, Altimeter’s chair who encouraged aggressive investment in artificial intelligence, said the firm wanted to engage with Meta and did not have any demands.by at least 30%, with Zuckerberg warning employees to brace for an economic downturn.
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