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The VR Winter Continues
Meta has spent at least $50bn on VR and AR so far, but we’re still in the VR winter: the devices aren’t good enough or cheap enough and the user base is flat. But no matter how good the devices get, how many people will care?
It can feel a little odd to write about anything other than generative AI these days, but I sometimes remind people that all the things that we were talking about in October 2022 are still there. ), Amazon has a $50bn ad business, peak TV is over, and Meta is still investing in VR and AR - at last $50bn so far. Meta probably sold 1m of the Quest 3 (seen in the spike in Q4 2023 , but compare with this data from Deloitte for the UK - the installed base is basically flat and only 20% of people who own one use it every day.
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