Meta Platforms CEO Mark Zuckerberg’s focus on social media and the metaverse has cost the company billions. After massive losses in Reality Labs, Meta plans to cut 30% of the metaverse budget, potentially saving billions annually. This shift reflects a new focus on profitability and practical technology solutions.

The company’s stock suffered post-rebrand due to metaverse losses, but a focus on profits and efficiency has led to a 500% increase since 2022. With the metaverse cuts, Meta aims to redirect resources to more useful ends, signaling a shift in strategy and a commitment to investor returns.

While Meta needs to ensure its AI and start-up projects are practical and monetizable, the company’s move away from the metaverse shows a step towards profitability. By facing reality and cutting costs, Meta is making strategic decisions that benefit investors and the company’s bottom line.

Read more at Yahoo Finance: Meta Just Made a No-Brainer Move. Here’s Why It Could Lead To More Profits.