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Mark Zuckerberg intends to significantly reduce funding for Meta's metaverse efforts, possibly slashing the budget by 30%. This could lead to layoffs in the metaverse group as early as January. The cuts affect initiatives like Meta Horizon Worlds and the Quest VR unit.
Meta's new AI team, led by Alexandr Wang, is clashing with existing executives who focus on the social media side of the business. The AI researchers aim for groundbreaking developments, leading to budget cuts in other departments, notably Reality Labs. This has created a divide within the company.