--- title: "Only 20% of resources are being devoted to creating hardware and software for the metaverse." description: "The social networking services that make up Meta's family, including Facebook, Instagram, and WhatsApp, continue to receive about 80% of its attention" author: "Muskan Singh" published: 2022-12-02 canonical: https://www.mindstick.com/news/2488/only-20-of-resources-are-being-devoted-to-creating-hardware-and-software-for-the-metaverse category: "facebook" tags: ["facebook api", "technology", "metaverse"] reading_time: 2 minutes --- # Only 20% of resources are being devoted to creating hardware and software for the metaverse. - According to Zuckerberg, the metaverse enriches [communication](https://www.mindstick.com/articles/126321/5-fails-and-fixes-of-the-office-communication). - Losses have been occurring in Meta's metaverse-focused unit. - Zuckerberg, however, is still optimistic about the future of the metaverse. Despite suffering significant setbacks in the metaverse sector of Meta, [Mark Zuckerberg](https://yourviews.mindstick.com/view/85512/elon-musk-mark-zuckerberg-two-business-tycoon-of-similar-age) has maintained his faith in cutting-edge technology. Before the metaverse blossoms into the potential industry it now appears to be, the CEO of Meta has decided to give it five to 10 years. In a recent lecture, **Zuckerberg emphasised that just 20% of Meta's [functional](https://www.mindstick.com/articles/13005/the-functional-aspects-of-laser-technology) focus is currently on creating the hardware and software that would support the metaverse ecosystem.** On the other side, Facebook, Instagram, and WhatsApp continue to receive 80% of the attention from Meta. At the New York Times DealBook Summit, 38-year-old Mark Zuckerberg made the [observation](https://yourviews.mindstick.com/view/70595/annular-solar-eclipse-2019-a-personal-observation) that his organisation must operate more effectively if it intends to improve the metaverse technology on a larger scale. According to the [tech](https://www.mindstick.com/services/technologies) tycoon, [interactive](https://answers.mindstick.com/qa/38931/who-has-won-the-2016-fifa-interactive-world-cup-fiwc) and richer communication is made possible by [**metaverse technology.**](https://www.mindstick.com/news/2209/meta-s-transition-to-the-metaverse-reduces-profit) In a metaverse setting, where the two were represented by avatars, Zuckerberg spoke with American journalist Andrew Ross Sorkin about Meta's [future plans](https://yourviews.mindstick.com/view/87925/elon-musk-s-future-plans) to make screen interactions 'more immersive and feel a little bit more human.' Currently, Reality Labs, a division of Meta, focuses on [research and development](https://www.mindstick.com/forum/158105/what-is-the-current-state-of-research-and-development-in-nanotechnology) related to its metaverse initiatives. In the business's Reality Labs division's Q2 earnings call in July, Zuckerberg revealed that the company had suffered staggering $2.81 billion in losses (roughly Rs. 22,410 crore). Around July of this year, the division's year-to-date losses were a dismal $5.77 billion (approximately Rs. 46,016 crore). In **reality, Reality Labs reported a startling $10.2 billion yearly loss last year (roughly Rs. 81,346 crore).** The billionaire has often drawn criticism for last year's decision to relaunch [**Facebook**](https://www.mindstick.com/news/2237/metaverse-could-lead-to-new-types-of-cybercrime-warns-interpol) as a Web3-centric corporation, which resulted in the company's financial decline. Zuckerberg's ideas for the metaverse had been 'dissected' by Sam Bankman-Fried, who claimed that Facebook's rebranding was really a ruse to generate billions by portraying itself as a 'vague, confusing, and futuristic enough' area. --- Original Source: https://www.mindstick.com/news/2488/only-20-of-resources-are-being-devoted-to-creating-hardware-and-software-for-the-metaverse Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.