I got this wrong, and I take responsibility for that. Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I'd expected. Unfortunately, this did not play out the way I expected. I did too, so I made the decision to significantly increase our investments. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I know this is tough for everyone, and I'm especially sorry to those impacted.Īt the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. I want to take accountability for these decisions and for how we got here. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. Mark Zuckerberg, in a blog post: Today I'm sharing some of the most difficult changes we've made in Meta's history. Roblox has also built out a technicolor world where fans can play a game that's a mix of soccer and bowling. 20 and is the most-watched athletic event across the globe. Upland isn't FIFA's only partner to provide immersive soccer-themed digital environments tied to the World Cup, which begins Nov. That digital journey is thanks to Upland, a metaverse platform based in Mountain View, California, which is partnering with FIFA to provide a blockchain-based metaverse experience during the tournament. While some superfans may fly to Qatar and shell out for a ticket to cheer alongside 80,000 other people during a game, metaverse-inclined fans can head to a virtual airport, wait several hours while they "fly" to Doha, visit a digital version of the stadium and enter nearby shops in the FIFA World Cup-branded village to buy digital merchandise such as scarves and flags, which they can later use to adorn their virtual houses to express their team spirit. In 2018, it offered a virtual-reality experience. In 2010, some matches were broadcast in 3-D. From a report: FIFA's virtual universe is part of the soccer organization's penchant for embracing the latest tech buzzword. In the metaverse, however, a digital replica of Lusail Stadium in Doha has none of that baggage - and the virtual property can be raffled off as a prize for a lucky soccer fan. In the real world, the construction of the World Cup infrastructure in Qatar has been marred by extreme temperatures and migrant worker deaths.
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