In a significant error, Yahoo misidentified the Meta Quest Pro as AR glasses and delivered misleading insights about it.
In Brief
Yahoo Finance provided misleading information about the newly launched Meta Quest Pro VR headset.
The presenters from Yahoo referred incorrectly to the VR headset, labeling it as 'AR glasses' and mentioned data regarding augmented reality, which is not applicable to Meta’s recent offerings.
Meta is actively promoting the concept of the metaverse for widespread use, yet the company has been critiqued for its questionable decision-making capabilities.
Live anchors from Yahoo Finance discussed The Yahoo Finance anchors mentioned, 'reasons why investors should dislike Meta CEO Mark Zuckerberg’s $1,500 VR glasses,' but many of their claims were based on inaccuracies.
On October 12, the next day after Meta has recently unveiled its latest VR headset, the Quest Pro. Yahoo Finance presenters Brian Sozzi, Julie Hyman, and Brad Smith expressed critical views about the newly released product. Sozzi, who holds the title of Editor-at-Large at Yahoo Finance, highlighted that releasing this device at such a steep price could not come at a worse time for Meta.
He pointed out that Meta is currently undergoing layoffs and its stock price has plummeted by 62%.
Sozzi elaborated on the challenges facing Meta.
He mentioned that while the specifications are impressive, the headset has a disappointing battery life of only 60 to 90 minutes.
Yahoo continues to misidentify the Meta Quest Pro as 'AR glasses' .
The Yahoo presenters made a significant blunder by labeling the Meta Quest Pro VR headset as AR glasses, which are entirely different technologies. Sozzi remarked on how Meta's workforce is being reduced, while Zuckerberg promotes this pricey gadget:
'Zuckerberg was seen showcasing $1,500 AR glasses yesterday, which feels completely out of touch with the current dynamics at Meta, especially considering this product isn't a substantial revenue generator for the company.'
He further argued that such products, which are heavily oriented towards a metaverse that's not yet realized, are detrimental to Meta's stock performance.
'I would posit that these investments in a metaverse that may not materialize for another decade are the very reason Meta's stock keeps declining.'
It seems that Zuckerberg is heavily invested in experimenting with new technologies and focusing on the metaverse, while his company’s social media platforms are left unattended, indicating a lack of focus on the financial side of operations. Sozzi's assertion about the Quest Pro not contributing to Meta's revenues might hold some truth, considering that global readiness for the metaverse hasn't fully arrived yet. Yahoo focused on the augmented reality sector while neglecting virtual reality . but is still heading toward it.
Analysis has shown that worldwide shipments of AR headsets are expected to decrease by 8.7% annually. In contrast, that same research firm noted that ‘VR headsets have seen a substantial growth of 31.9% year-over-year in the second quarter of 2022.’ Unfortunately, the Yahoo anchors omitted this crucial data.
Sozzi shared an IDC Tracker AR analysis Sozzi also pointed out that the leading manufacturers of AR headsets include Microsoft, Rokid, Shadow Creator, Mad Gaze, and RealWear—none of which are companies linked to Meta. Yet, he failed to mention that Meta has not ventured into AR glasses, focusing primarily on VR technology. Meta is now only planning to launch its initial foray into AR glasses in 2024.
Soon, it might also become a significant competitor in the VR domain, especially after its debut headset is released next year. Additionally, both Sony and Pico have plans to roll out VR devices in the near future. As their discussion wrapped up, Hyman posed a critical question regarding the metaverse's practicality, stating: 'What’s the benefit of holding meetings in the metaverse when you could simply use a phone call?' To which Sozzi added, 'Or just meet in person.' .
Meta is indeed the leading creator of VR headsets . Apple The Yahoo Finance team overlooked a broader perspective. The metaverse holds the promise of offering distinctive interactive experiences, innovative marketing avenues, advanced advertising methods, immersive educational opportunities, and much more via 360-degree videos and 3D technology.
Yahoo is not a fan of the metaverse
They also noted growing dissatisfaction among Meta’s staff regarding Zuckerberg's ambitious vision, arguing that this delays immediate objectives (like enhancing Facebook and Instagram), which in turn hampers overall company growth. Zoom It seems the media is attempting to mock Zuckerberg's metaverse aspirations and his strong conviction about the potential of the virtual realm. Nevertheless, Meta is grappling with numerous challenges, and it’s imperative for Zuckerberg to rethink his strategies to rejuvenate the stock and remedy the financial status of Meta.
Despite the apparent discrepancies between Zuckerberg's vision of the metaverse and a decentralized, blockchain-driven version of it, it's important to recognize that Meta has been a driving force in advancing the industry.
They introduce the Quest Two, a new virtual reality headset priced at $1,500.
Meta is supposedly ‘launching AR glasses while simultaneously laying off employees,’
one commentator remarked, adding that it feels completely disconnected from the current state of affairs.
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