Facebook parent Meta Platforms Inc. plans to continue to invest about 20% of total costs and expenses in Reality Labs in 2023, despite questions about the business unit's focus on augmented reality and virtual reality and Metaverse. Andrew Bosworth, Meta's chief technology officer and head of Reality Labs, posted on the company's official blog on Monday that it has not changed much compared to the 18% of Meta's spending on Reality Labs in the third quarter, and most of the remaining investment will be used to support its core business "application family" Facebook, Instagram, WhatsApp and Messenger. (Bloomberg)