Fri. Dec 3rd, 2021

That is what Facebook is reporting Confused Significant about shareholders Denies Among teens and younger users, Mark Zuckerberg says the company is “re-tooling” to make serving young adults its top priority. To do this, the company plans to make “significant changes” to its Facebook and Instagram apps and will spend billions of dollars building its vision for “Metavers”.

Citing increased competition from TikTok and iMessage, Zuckerberg said the company will do more to win over “young adult” users between the ages of 18 and 29, even if it comes at the expense of older users. During the company’s third-quarter earnings call, he said the company’s TikTok rival reels would be “as important to our products as the story”. “We look forward to making significant changes to Instagram and Facebook next year to lean more towards video and make Reel a more central part of the experience,” Zuckerberg said.

After all, he said the company is “recovering” internally to build young people as “north stars”. He added that the transfer “would take nine months to nine years.” The problem of young users has been filled especially for the company. A whistleblower’s revelations about Facebook’s internal research on adolescent mental health sparked a series of congressional hearings on child protection and a wave of headlines about how the photo-sharing app could be detrimental to its most vulnerable users. At the same time, other internal documents indicate that Facebook and Instagram have experienced significant declines in engagement among teenagers and young adults over the years.

Zuckerberg said another major priority for the company would be to create its vision for “Metavers”. He did not comment on the report His name changed To reflect its new focus on augmented reality and virtual reality, however, made it clear that the company has significant ambitions in space. “Our goal is to help Metaverse reach one billion people,” he said. He added that a metaver could enable “hundreds of billions of dollars in digital commerce”.

The company also said Monday that it will go ahead with two sets of financial reports: one for its “family” apps, which include Facebook, Instagram, Messenger and WhatsApp; And one for its reality labs department which oversees its augmented and virtual reality work. Inside A statement, Facebook says that investing in reality labs will reduce its profits by 21 10 billion by 2021 and that the company will only increase its AR and VR costs in the next “few years”.

He also addressed the ongoing revelations from Zuckerberg “Facebook Papers,” A series of articles based on documents provided by a former employee turned whistleblower Francis Hausen. The CEO described the work of a consortium of news agencies as “a concerted effort to selectively use leaked documents to paint a false picture of our company.” The documents, which were the basis of more than a dozen stories detailing Facebook’s desperate efforts to combat hate speech and other damages, have also been provided to members of Congress and the Securities and Exchange Commission.

“Any honest account should make it clear that these issues are not primarily related to social media,” Zuckerberg said. “It means that no matter what Facebook does, we’re never going to solve them ourselves.”

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