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Meta says Metaverse will lose even more money in 2023

Here are the top trending stories from the world of technology. Stories that we feel every tech enthusiast should keep a tab on.


Meta says Metaverse will lose even more money in 2023

Meta, which has been facing wrath of its investors for spending exuberantly on Metaverse, has said that Metaverse’s operational cost won’t reduce in 2023 as well.  The Reality Lab, which oversees the metaverse pivot, has so far spent $9Bn in 2022 as compared to $10Bn spent in 2021. Talking about Metaverse’s operational cost for the next year, Meta has hinted that the cost might surpass the $10 Bn benchmark. This revelation comes at a time when Altimeter Capital, one of the largest stakeholders of Meta, has requested the company to bring down the annual spending on Meta to $5 Bn.


Elon Musk visits Twitter Headquarter as Takeover Deadline Looms

Photo of Tesla CEO Elon musk, source: Flickr

Elon Musk paid a visit to Twitter headquarter in San Francisco on Wednesday in what is been seen as a definite sign that the tech billionaire will be obeying court’s order to accept the takeover deal. Musk has time until the end of this week to complete the financial proceedings for buying Twitter. Interestingly, Musk carried ‘sink’ along with him while visiting the Twitter headquarter. Musk even uploaded the video of him carrying a sink on his personal Twitter handle. Meanwhile, during his visit to the headquarter the tech billionaire personally assured the employees of the microblogging company that he won’t fire 75% employees as has been widely reported across the media.


Apple is working on a really big iPad

Apple’s iPad Pro size is 12.9 inch and is the largest iPad currently available in the market in terms of size. But this is most likely to change. According to media reports, Apple is developing a 16 inch iPad, which could be launched in the market in the fourth quarter of 2023. If Apple does launch a 16 inch iPad then this put its iPad on par with the MacBook Pro, which also has 16 inch display. Experts claim that Apple always had the long term ambition of blurring the line between the iPad and Macbook. And its plan to launch a 16 inch iPad is probably a decisive step in that direction.


Tesla Slashes Car Price in China by 9%

American EV car major Tesla has decided slash the prices of its Model 3 and Model Y electric cars in Chinese market by as much as 9%. These decision comes days after Tesla’s CEO Elon Musk warned that China is already in the middle of recession. The fear of recission in the Chinese economy has been much talked about due to the prolong impact of COVID. While the latest price cut may or may not help Tesla in improving its sales in the world’s second largest auto market, it is also facing intense competition from local Chinese companies. The most notable competitor being BYD, which is backed by American billionaire Warren Buffet.


Indian Unicorn Startup Udaan raises $120 Mn

Udaan has furloughed nearly 1000 contract staff due to COVID 19 impact

Bengaluru based B2B e commerce player Udaan has scooped up $120 Mn in a fresh funding round led by existing shareholders. The unicorn startup raised the funds purely through convertible and bond notes. The fund raising has come at a time when Indian startups are finding it more and more difficult in raising funds especially at higher valuation. Udaan is a B2B e-commerce player and is among the most funded Indian startups.

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