What's happening with VR?

The world of VR is feeling some fallout from the global financial markets and some large companies have announced cuts to their Metaverse teams. But on investigation it seems some of these departments were literally throwing money away with little to no oversight, with some of the development amounts being spent approaching the obscene.

The Meta App market showed revenue of $1.5B USD for 2022, a pretty good number for developers and publishers, and 2023 is looking to be a healthy jump on that.

With Apple's upcoming announcement on their Reality headset coming in May, the AR/VR world will get a much needed boost, with support for a new type of device that can be heavily integrated with a users digital life. In my opinion Apple will succeed here where Meta failed due to their completely different approach to user data and privacy.

A big part of Metas perceived failure with Horizons workrooms and the 'Metaverse' is a lack of insight into the use of headsets (Escapism vs Work) and a lack of trust by users to allow Meta access to all areas of a users life including sensitive business documents. Additionally Meta failed to educate the market on what the Metaverse really was early on, and still hasn't really given a palatable message for the general public to embrace it.

While Meta struggles in the marketplace of ideas, they have delivered a great eco system for people who bought the Quest 2 headsets, and with more expensive and improved models released and announced there continues to be great innovation in the space.