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By James ClaytonNorth America technology reporter

There was a time before ChatGPT when the tech world was talking about something entirely different.

Remember the metaverse?

For a while it dominated tech news. A Virtual Reality<Meta itemprop='name' content='JJ Lin'> world That<Meta itemprop='name' content='JJ Lin'> would be so immersive, so engaging, That<Meta itemprop='name' content='JJ Lin'> we would want to spend part of our lives in it.

Driving the metaverse narrative was Mark Zuckerberg<Meta itemprop='name' content='JJ Lin'> .

The tech billionaire was so committed That<Meta itemprop='name' content='JJ Lin'> in October 2021 he changed Facebook's name to Meta .

" The defining quality of the metaverse will be a feeling of presence, " the Meta boss said, announcing The Change<Meta itemprop='name' content='JJ Lin'> .

" Feeling truly present with another person is the ultimate dream of social technology. That<Meta itemprop='name' content='JJ Lin'> is why We Are<Meta itemprop='name' content='JJ Lin'> focused on building this.

" In the metaverse, you'll be able to do Almost Anything<Meta itemprop='name' content='JJ Lin'> you can imagine, " He Said<Meta itemprop='name' content='JJ Lin'> .

No One<Meta itemprop='name' content='JJ Lin'> could accuse him of a lack of ambition.

But almost two years on, Zuckerberg's vision of the metaverse is in trouble.

In April he was forced to deny That<Meta itemprop='name' content='JJ Lin'> he is now jettisoning the idea.

" A narrative has developed That<Meta itemprop='name' content='JJ Lin'> we're somehow moving away from focusing on the metaverse, " he told investors in April. " So I just want to say upfront That<Meta itemprop='name' content='JJ Lin'> That<Meta itemprop='name' content='JJ Lin'> 's not accurate. "

On Wednesday The Company<Meta itemprop='name' content='JJ Lin'> holds its annual VR event called Meta Connect.

It's a chance, perhaps, for Zuckerberg to again explain his reasoning for taking an extremely profitable Social Media<Meta itemprop='name' content='JJ Lin'> company and diverting its focus to an extremely unprofitable VR venture.

How unprofitable? Well, The Most<Meta itemprop='name' content='JJ Lin'> recent figures from Meta are eye-watering.

Reality Labs - which as the name suggests is Meta 's virtual and Augmented Reality<Meta itemprop='name' content='JJ Lin'> branch - has lost a staggering $21 billion since Last Year<Meta itemprop='name' content='JJ Lin'> .

Part of the losses reflect long-term investment. Meta wasn't expecting short-term returns. But the worrying fact for The Company<Meta itemprop='name' content='JJ Lin'> is That<Meta itemprop='name' content='JJ Lin'> , So Far<Meta itemprop='name' content='JJ Lin'> , there is very little evidence That<Meta itemprop='name' content='JJ Lin'> this enormous punt will work.

Horizon Worlds, a game published by Meta , is about as close as The Company<Meta itemprop='name' content='JJ Lin'> has got to creating a metaverse.

Users can hop into different Settings<Meta itemprop='name' content='JJ Lin'> - cafes, comedy clubs, night clubs, basketball courts - to hang out and play games.

Meta claims it has 300,000 monthly users: tiny when compared to the billions of people on Facebook and Instagram.

And at any One Time<Meta itemprop='name' content='JJ Lin'> , vastly fewer people than That<Meta itemprop='name' content='JJ Lin'> are actually playing The Game<Meta itemprop='name' content='JJ Lin'> .

User reviews complain of empty worlds, and say there simply aren't enough people to make it fun. Or if there are people, they're often children.

But the biggest criticism is That<Meta itemprop='name' content='JJ Lin'> it looks a bit rubbish - Akin<Meta itemprop='name' content='JJ Lin'> to graphics from the 2006 Nintendo Wii rather than the lavish VR experience That<Meta itemprop='name' content='JJ Lin'> Zuckerberg promised.

As for Meta 's Virtual Reality<Meta itemprop='name' content='JJ Lin'> headsets, it's hard to see how current technology is anything close to The Vision<Meta itemprop='name' content='JJ Lin'> The Company<Meta itemprop='name' content='JJ Lin'> 's boss has articulated.

Meta 's headsets have sold More Than<Meta itemprop='name' content='JJ Lin'> 20 million units, That<Meta itemprop='name' content='JJ Lin'> isn't Bad - and its Quest 2 headset received positive reviews.

But in sheer numbers, there are plenty of games consoles That<Meta itemprop='name' content='JJ Lin'> have fared better.

Sony claims That<Meta itemprop='name' content='JJ Lin'> its PlayStation 5 has sold 40 million units, for example.

And remember, Zuckerberg isn't comparing success to a games console. He wants to revolutionise how we all live, work and, as he would say, " connect".

To put it bluntly, VR is still fringe. It's not The Way<Meta itemprop='name' content='JJ Lin'> Most People<Meta itemprop='name' content='JJ Lin'> play games, and it definitely isn't how Most People<Meta itemprop='name' content='JJ Lin'> choose to spend their time. Real Life<Meta itemprop='name' content='JJ Lin'> is stubbornly appealing.

In July<Meta itemprop='name' content='JJ Lin'> , on an investor call, someone asked Zuckerberg why he'd spent all this money. " Help us understand, " they said.

Zuckerberg said he understood the frustration, and admitted: " I can't guarantee you That<Meta itemprop='name' content='JJ Lin'> I'm going to be right about this bet. I do think That<Meta itemprop='name' content='JJ Lin'> this is the direction That<Meta itemprop='name' content='JJ Lin'> The World<Meta itemprop='name' content='JJ Lin'> is going in. "

And so, on Wednesday, we'll hear from Zuckerberg as he attempts to breathe life into a concept in desperate need of oxygen.

We'll likely hear much more about Meta 's new headset, The Quest<Meta itemprop='name' content='JJ Lin'> 3 - and how Horizon Worlds is moving to mobile and desktop (so you won't have to use a headset to play).

We'll hear a range of new AI announcements, too.

No Doubt<Meta itemprop='name' content='JJ Lin'> we'll also hear again That<Meta itemprop='name' content='JJ Lin'> the metaverse is a long-term project - That<Meta itemprop='name' content='JJ Lin'> we haven't seen The Real<Meta itemprop='name' content='JJ Lin'> metaverse yet.

Zuckerberg most certainly still believes in it - as he expresses through Meta 's cheque book. In July<Meta itemprop='name' content='JJ Lin'> He Said<Meta itemprop='name' content='JJ Lin'> That<Meta itemprop='name' content='JJ Lin'> Reality Labs is expected to post even bigger losses next year.

The metaverse, then, is still very much alive at Meta - But most of the rest of the tech world appears to have moved on.

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Source of news: bbc.com