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How Meta's Recent Layoffs Made A Big Impact On Profits

In the past year, Meta has undergone significant transformations, particularly in its approach to workforce management. Meta’s decisions regarding layoffs have not only attracted attention but have had a substantial impact on the company’s financial performance. Meta incurred staggering losses totaling $16 billion, primarily attributed to its Metaverse endeavors, mainly its Reality Labs division responsible for Oculus goggles. This marked a significant increase from the previous year’s loss of $13.7 billion, with Meta reporting a loss of $4.6 billion in the final quarter of 2023. Meta’s Stock Surge And Improved Margins Despite these substantial deficits, Meta’s stock surged by 12% following recent updates, largely due to the company’s improved margins. Meta’s revenue increased by 16%, while operating income and profits surged by 62% and 69%, respectively. CEO Mark Zuckerberg has assured investors of further losses in the future due to ongoing investments in augmented reality/...

Corinne Dorsey

Feb 16, 2024

Step Into The Metaverse: What It Means To Be An Engineer Behind One Of The World’s Most Innovative Brands

Whether you’re using WhatsApp to communicate with friends and family across oceans and time zones, or finding all types of entertainment and inspiration on Reels, chances are Meta touches your life on a daily basis. Many of us have had a front row seat to the evolution of this brand, from the days when your Facebook page had to be linked to a college email address, to the futuristic capabilities of the new Meta Quest 3 VR headset. Behind the tech giant that has come to permeate our lives are diverse tech creatives who have built an amazing ecosystem that equally pulls from their similarities and their differences. We recently caught up with Cyriel Dikoume, an Engineering Manager at the company, to find out more about what it’s like to be part of the team responsible for the wide range of innovation that has happened at Meta in even just the last two years. “It’s kind of like our apps: connecting people is what we do best,” Dikoume told AfroTech. “The essence of connection and...

Tai Saint-Louis

Dec 18, 2023

Morehouse College Senior Gera Baano-Stewart II Is Giving New Definition To Being A Simp By Building A Metaverse Empire

Miles Morales as Spider-Man has audiences captivated. Not only does the portrayal offer a fresh new perspective with all of its cultural immersions, but the ability to navigate across the multiverse also brings fresh energy to the film, introducing diverse versions of the character. Although Morales and his multiverse activities are fictional, real-life innovative practices allow people to leverage technology to support multilayered connections on various levels. Morehouse College senior Gera Baano-Stewart II recognized the power of this innovation and has launched several apps to support his generation, building a social connectivity ecosystem called Reign Verse.

Josh Rodgers

Jul 11, 2023

According To Snoop Dogg, Death Row Records Has Made About $40M In The Metaverse

Snoop Dogg is making it known that Death Row Records is in the right hands.

Samantha Dorisca

Dec 13, 2022

Floyd Mayweather Jr., Deji Olatunji Had The First-Ever Boxing Match Streamed In The Metaverse

Boxing has headed over to the metaverse. Floyd Mayweather Jr. and Deji Olatunji’s match at the Global Titans in Dubai on Nov. 13 was the first-ever boxing event streamed live in the metaverse, according to Forbes.

Ngozi Nwanji

Nov 22, 2022

Mike Epps To Open Live Entertainment Venue With Immersive Technology In Downtown Detroit

Mike Epps will join Rev. Horace Sheffield to open a live entertainment venue for the people of Detroit.

Samantha Dorisca

Nov 18, 2022

Morehouse College Makes History As The First-Ever College To Offer Classes In The Metaverse

Founded in 1867, Morehouse College has been a staple in the Black community. As the only HBCU to exclusively serve Black men, the school is known for its academic prowess, notable alumni, and community impact. The Atlanta-based institution is now taking its historic impact one step further by taking its curriculum into the metaverse.

Josh Rodgers

Nov 11, 2022

Exclusive: E-40 Reveals Snoop Dogg Inspired Hip-Hop Supergroup Mount Westmore To Drop Their Debut Album In The Metaverse

Standing on the Mount Rushmore hill of Hip-Hop are trailblazers E-40, Snoop Dogg, Ice Cube, and Too Short.

Samantha Dorisca

Oct 18, 2022

Are Men Posing As Women To Make Thousands Of Dollars As Exotic Dancers In The Metaverse?

Juicy J’s “Bandz A Make Her Dance” seems to be taking on an entirely new meaning as exotic dancers have been proposed to enter the metaverse. You read that right. No longer are adult entertainment venues constricted to some of the famous names touted by Drake — Tootsie’s, Magic City, and King of Diamonds. One company presented the idea of people sitting in the comfort of their homes and making it rain in the metaverse. But how is this possible?

Josh Rodgers

Oct 6, 2022

The Story Behind The Games' Debut Album Will Now Be Told On 'The Debut Live' Via Black-Owned VR Platform CEEK

The untold stories of some of the biggest names in the music industry will be featured in the metaverse. View this post on Instagram A post shared by CEEK Virtual Concerts (@ceekvr)

Samantha Dorisca

Aug 11, 2022

Keke Palmer Adds Yet Another Gig To Her Resume As The Host Of Meta's New Metaverse Series

“Baby, THIS, is Keke Palmer.” Earlier this week, the actress had to make it clear that she is that girl . After a tweet comparing her career in Hollywood to Zendaya’s went viral, the 28-year-old hit send on a tweet of her own in response, as previously reported by Shadow and Act. “A great example of colorism is to believe I can be compared to anyone. I’m the youngest talk show host ever. The first Black woman to star in her own show on Nickelodeon, & the youngest & first Black Cinderella on broadway. I’m an incomparable talent,” Palmer tweeted. A great example of colorism is to believe I can be compared to anyone. I’m the youngest talk show host ever. The first Black woman to star in her own show on Nickelodeon, & the youngest & first Black Cinderella on broadway. I’m an incomparable talent. Baby, THIS, is Keke Palmer. — Keke Palmer (@KekePalmer) July 24, 2022 Now, the star has added yet another hosting gig to her lengthy resume!

Ngozi Nwanji

Jul 26, 2022

Never-Before-Heard Stories Centered Around Kevin Hart's Life Are Making Their Way To The Metaverse

Comedic genius Kevin Hart will be giving his fans a more in-depth look at his life.  

Samantha Dorisca

Jun 29, 2022

Snoop Dogg Files Trademark To Bring Virtual Cannabis To The Metaverse

Another day, another way that Snoop Dogg is dominating in the metaverse. According to trademark attorney Josh Gerben, it appears that the serial entrepreneur has filed a trademark for his virtual cannabis venture.

Ngozi Nwanji

Jun 21, 2022

Magic Johnson Becomes An Owner, Investor And Advisor Of SimWin Sports, A First-Of-Its-Kind Digital Sports League

If he doesn’t do anything else, Magic Johnson will always be about his business! The NBA legend turned entrepreneur extraordinaire is officially taking his talents to the metaverse through SimWin Sports as an owner, investor, and advisor. “I’m so excited to be involved with SimWin, which is blazing a trail in one of the hottest new business sectors and has a great team leading the charge,” Johnson said in an official news release shared with AfroTech. “This multi-billion-dollar business is about to take off and the SimWin model is an excellent way for sports fans to get involved in this groundbreaking opportunity. I look forward to contributing to its growth and success. get ready for the Inaugural Draft Class NFT player drop coming soon. I might just draft one of your players for my team.”

Shanique Yates

Jun 16, 2022

Ice Cube's Big3 Basketball League Sells Team For $625K

A team from Ice Cube’s BIG3 basketball league has been purchased by DeGods DAO for $625,000, according to a press release. As AfroTech previously reported, Ice’s Cube’s basketball ventures in the metaverse allow collectors to become team owners under the conditions they purchase between two NFT collectibles: 25 Fire valued at $25,000 each and 975 Gold valued at $5,000 each. Solana backed platform DeGods has dived right in to build on the BIG3 league’s mission to make fans more involved with their favorite team with plans to make 500 whitelist spots ready for potential holders, Forbes India reports.

Samantha Dorisca

May 2, 2022