Meta: Still plans to allocate 20% of its spending to the metaverse project Reality Labs next year

ChainCatcher news, Meta's Chief Technology Officer and head of Reality Labs, Andrew Bosworth, stated in a post on the company's official blog on Monday that Meta will continue the spending direction of the third quarter this year: 80% of investments will be used to support the core business "application suite," while the remaining 20% will still be allocated to the metaverse project Reality Labs. He mentioned that a 20% investment in future technologies is "a meaningful level of investment for a company committed to maintaining a leading position in one of the most competitive and innovative industries on Earth." (Bloomberg)