META REPORTEDLY UNHAPPY WITH HOW MUCH MONEY ITS VR DIVISION BURNS

Summary from the TLDR newsletter

Meta has told its AR/VR teams to cut spending by around 20%. The division has lost $55 billion since 2019. The company is still aiming to release a new Meta Quest 4 headset, a Quest Pro sequel, and new AR glasses in the next three years. Meta has been shifting its focus over to AI. It is gearing up to release its Llama 400B AI model by the end of the month.