The Clap
Sales of VR headsets declined by 2% in the US in 2022 compared to a year earlier, with Mark Zuckerberg’s reliance on VR not paying dividends.
What
VR headset sales declined to around $1.1bn, a small figure compared to Facebook’s ad revenue.
Zuckerberg opted to shift efforts to VR as Meta’s dominance in the ad business begins to slow down.
So What
Meta, much like other large tech stocks, struggled this year, down around 65% this year.
Now What
Zuckerberg expects the metaverse to take around a decade to become widely used, but estimates it to host hundreds of billions of dollars in commerce.
