Meta to cut metaverse budget by 30% in 2026

Meta, the company that owns Facebook, is planning to spend a lot less money on its metaverse project next year.

The metaverse was supposed to be a big, virtual world where people could work and play, but it hasn't been as successful as hoped.

Meta has already lost a lot of money on this project, and now they want to focus more on things like artificial intelligence, which is making money for other companies.

This doesn't mean they're giving up on the metaverse completely, but they're going to spend less money on it and maybe make new products more slowly.

It's like when you stop spending so much time on a hobby that isn't working out and focus on something else that might be more fun or useful.