Core Insights - Meta's Reality Labs unit reported a significant operating loss of $6.02 billion on $955 million in sales for the fourth quarter, exceeding analyst expectations of a $5.67 billion loss on $940.8 million in revenue [2] - Since late 2020, Reality Labs has accumulated over $75 billion in total operating losses, indicating the high costs associated with Meta's metaverse initiatives [2] - The company laid off more than 1,000 employees from Reality Labs to reallocate resources towards artificial intelligence and wearable devices, including the new Ray-Ban Meta smart glasses [3] Company Strategy - Meta's tech chief Andrew Bosworth stated that the company is not abandoning its VR efforts, although the market is growing slower than anticipated [4] - The company did not release a new Quest VR headset last fall but introduced the AI-powered Meta Ray-Ban Display glasses priced at $799, featuring a digital screen on one lens [4]