Image: Goal

VR and AR are developing at a fast pace and at the same time too slow. Did Zuckerberg bet too much too soon?

Meta is in the midst of the biggest crisis in its 18 years of existence. The company’s value has fallen 70 percent in the past year. Last week, Mark Zuckerberg laid off 11,000 employees. More cost cutting measures and job cuts are likely to follow if Meta’s situation does not improve.

There are many reasons for Meta’s recession: the weakening global economy, Apple’s anti-monitoring move, and stiff competition from TikTok are putting pressure on the ad business. On top of that, user numbers on Facebook, Instagram and…