00:00 Speaker A
This is uh a move that Meta is making according to uh sources Yahoo Finance spoke to. They’re not necessarily cutting funding overall from Meta’s actual capex, but they’re moving money from the Metaverse to AI and smart glasses. And so, it’s basically, you know, they’re kind of saying, okay, Metaverse, not so hot.
00:30 Speaker B
Hm.
00:31 Speaker A
Smart glasses which have been selling well comparatively, uh and obviously AI, that’s where we want to have all the funding go at this point. Not, well, not all of it, but more so. And so, you know, I do think it it is interesting the the metaverse was kind of supposed to be this big to-do, right? I mean, that’s the reason why it’s Meta. Uh but it just doesn’t seem to have panned out the way that it was originally pitched. And so now, they’re uh leaning heavily on AI. You don’t really hear much about the metaverse from from anyone frankly. I mean, Nvidia was also part of the the metaverse, they called it the Omniverse. They do still talk about the Omniverse and digital twins, uh which they uh regularly talk about companies using to build factories and things along those lines. But that idea of a metaverse where we would all kind of get together as avatars and hang out, uh it doesn’t seem to be panning out. The one place I I will say that it uh appears to be doing well is Fortnite.
01:34 Speaker B
Mhm.
01:35 Speaker A
I mean, people go into Fortnite and they they’ll have like voting events and concerts, all sorts of things like that.
01:42 Speaker B
kinds of stuff going on.
01:43 Speaker A
Uh it’s not it’s not my bag. I’m not a a Fortnite guy, but, you know, uh I guess that’s where it’s kind of going. So, not so much the the VR AR glasses. And look, Apple can’t make the AR VR glasses work. I mean, how many people do you know have a Vision Pro?
02:00 Speaker B
Not many.
02:01 Speaker A
Yeah. I know maybe one and that’s cuz I’m in tech.
02:05 Speaker B
Yeah.
02:05 Speaker A
writing. Um but yeah, I think that that’s, you know, the it seems as though that the industry is moving more towards these smart glasses. Um the Ray-Ban Metas are selling well for Meta. uh and they have the new uh Ray-Ban meta displays. So, I think that’s the the direction of the industry.
02:22 Speaker B
So do you do you think if you’re trying to like read into Zuck’s priorities or something like this? Is it sort of like, okay, he’s not not given up on the concept, he’s not given up on the glasses, but he’s just saying, I’m really into the this AI thing and I got to I got to move some chips around. Is that how I should think about it?
02:40 Speaker A
Yeah, I think that’s, I think that’s kind of it. It’s, you know, it’s they’re more interested in the the glasses side of things and the AI side of things and less on the, you know, full-on headset and getting into that kind of, you know, world where you you exist in, you know, digital space. Um I I do think that that’s where it is. And look, you know, other companies are trying to get into the glasses space as well. Uh Google and Samsung are teamed up. They’re building their own glasses as well uh using the Android XR platform that Google has launched alongside Samsung. Uh Bloomberg’s previously reported that uh Apple is trying to work on their own smart glasses. Uh and so, you know, that really I think is is kind of when we’ll start to see the the area take off if it does at all. I’m still skeptical on glasses. I literally have contact lens. I put pieces of plastic on my eyeballs to not wear glasses.
03:35 Speaker A
I got to say,
03:36 Speaker B
Yeah.
03:37 Speaker A
People get laser shot into their head to not wear glasses. That’s my my uh my my skepticism, I think in a nutshell. I wouldn’t be putting plastic on my eyeballs if I didn’t want, you know, glasses on. So, you know, maybe if they do something cooler, uh I’ll do it. Yeah, it remains to be seen.