I heard Zuckerberg is going to cut the metaverse division's budget by 30%. Meta Horizon Worlds, that virtual world, and the Quest VR hardware business—all of them will have to tighten their belts.

And the result? Meta's stock price shot up 6% at market open. The capital markets have voted with their feet, deciding that this money should be saved—after all these years of burning cash, user retention is still disappointing.

Back then, they loudly proclaimed the "next generation of the internet" and painted grand visions, telling all kinds of stories. Now, they've completely gone silent.

So, do you still believe in the metaverse narrative?