Arif Qazi / Insider
- Meta is in a "year of efficiency," but its metaverse ambitions remain a priority.
- The metaverse isn't a solution to the challenges in its ads business due to Apple's iOS changes.
- Meta's ads unit will only recover if it continues to innovate so it doesn't need to track user data to sell ads.
Meta CEO Mark Zuckerberg has declared 2023 a "year of efficiency," as the social networking giant reels from brutal layoffs and shrinking revenue.