The 7th Trillion Dollar Company?

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

Meta's Top Executive Reveals Three Reasons Why VR Headsets Are Failing To Take Off: 'New Technologies Don't Just Come Into The World Ready To Go'

Ananya Gairola
July 10, 2024

In an interview with metaverse expert Matthew BallMeta Platforms, Inc.’s (NASDAQ:META) CTO Andrew Bosworth shared his thoughts on the future of VR/MR headsets and the challenges they face.

What Happened: The in-depth interview was published on Tuesday and centered around Meta’s Metaverse strategy, the potential for VR/MR headset sales to surpass 100 million annually, and Bosworth’s ideal headset specifications, among other topics.

During the conversation, Bosworth identified three main obstacles to achieving 100 million units a year for VR/MR headsets. The first is content, or “stuff to do” with the devices. He stressed that the devices themselves are useless without an ecosystem and activities, which has been a challenge in the past.

See Also: Microsoft Asks Staff In China To Switch From Android Phones To iPhones At Work: Report

The second obstacle, according to Bosworth, is price. He pointed out that the device’s value is directly related to its cost. The lower the price, the less value needs to be added, but also the less people value it.

The final barrier is accessibility, which Bosworth defined as everything from comfort and weight to motion sickness and accommodation for different eye widths. He also mentioned the effect of the device on hair or makeup, styling, charging frequency, and input methodology as factors that limit its use.

The Meta CTO concluded by stating that while progress is being made on all fronts, it requires significant investment and invention. He expressed confidence in the future of the technology but acknowledged that there is still much work to be done.

“New technologies don’t just come into the world ready to go. The supply chains have to be built, the manufacturing has to be built, the technology itself has to be developed, and of course, that means you have to pay for the 10 wrong paths you took before you get to the 11th one that does work,” he said.

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Why It Matters: Bosworth’s comments come at a time when the VR/MR headset market is facing mixed reactions. In February 2024, Apple Inc. released its Vision Pro headset, which received mixed reviews due to design and performance issues. Some users found the device cumbersome and uncomfortable for extended use.

Previously, a top analyst noted that Apple investors were more interested in the company’s AI initiatives than its AR/VR headset. Around the same time, Matt Booty, head of Xbox Game Studios, expressed skepticism about the viability of the VR/AR market, choosing not to venture into this space.

Check out more of Benzinga's Consumer Tech coverage by following this link.

Read Next: 

  • Want To Buy Kindle During Amazon Prime Day 2024? Read This First

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock

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