Meta is expected to cut up to 30% of its metaverse budget after pouring billions into the initiative over the last five years ...

According to reports first published by Bloomberg, Meta executives have discussed major funding cuts within the Reality Labs ...

The Oversight Board began its work in 2020, staffed with prominent academics, media veterans and civil society figures.

Craig Huber of Huber Research Partners characterized the move as "intelligent, just too late," noting that the original revenue projections for the Metaverse have clearly failed to materialize.