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☆ Exclusive: China's Bytedance is talking to likely buyers about gaming unit Moonton's sale
▼ + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

Shanghai-based Moonton, which has developed the popular mobile game “Mobile Legends: Bang Bang”, was acquired by ByteDance in 2021. At the time, it was seen as ByteDance’s biggest commitment to become a major player in the $187 billion global video games market. ByteDance's foray into video games has proven to be rocky so far. Founded in 2014, Moonton found success with multiplayer online battle arena game "Mobile Legends". Last year, ByteDance disbanded its Shanghai-based game development unit 101 Studio.

Persons: Aly, ByteDance, Moonton, Pico, Josh Ye, Muralikumar Anantharaman, Kim Coghill Organizations: REUTERS, ByteDance, Companies, Reuters, Thomson Locations: Shanghai, China, HONG KONG, Saudi, Indonesia, Malaysia, Singapore, Hong Kong

☆ Meta strikes deal with Tencent to sell VR headset in China - WSJ
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

The preliminary deal will make Tencent the exclusive seller of the headset in China and the videogame maker will start its sale in late 2024, the Journal said, citing soucres. It also gives Meta a chance to return to China after 14 years and compete with TikTok-owner Bytedance, which makes the VR headset Pico. Meta sells Quest 2 headset in the United States at a starting price of $300 and Quest Pro headsets at $1,000. For China, Meta is planning to use lenses in the headset that are cheaper than those in the Quest 3, according to Journal report. The headset is priced more than three times Meta's most expensive Quest headset and is aimed at enthusiasts.

Persons: Yves Herman, Bytedance, Tencent, Biden, Shubham Kalia, Yuvraj Malik, Sonia Cheema, Arun Koyyur Organizations: REUTERS, Tencent Holdings, HK, Facebook, Wall Street, TikTok, Pico, Meta, Quest, Twitter, IDC, Thomson Locations: Brussels, Belgium, China, United States, Beijing, Xinjiang, Bengaluru

☆ China's ByteDance to overhaul VR arm Pico as global demand declines -sources
▼ + stars: | 2023-11-07 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The ByteDance logo is seen at the company's office in Shanghai, China July 4, 2023. The meeting did not specify how many jobs would be cut as a result, but the three people said "hundreds" of Pico staff were expected to be affected globally. In China, it has become the leading VR producer by total shipments and globally it trails only Meta. But two of the people said ByteDance had pared back efforts to develop Pico as a brand in recent months as the outlook dimmed. ByteDance said last month it remained committed to the VR industry in the long term following media reports that it planned to gradually wind down Pico.

Persons: Aly, Pico, ByteDance, Josh Ye, Jamie Freed Organizations: REUTERS, Pico, Reuters, VR, Meta, IDC, Thomson Locations: Shanghai, China, Pico, HONG KONG

☆ Opinion | The Laws of Campus Culture War
▼ + stars: | 2023-11-02 | by ( David French | ) www.nytimes.com time to read: +15 min

They represent the moral and philosophical foundations for the concrete constitutional rules of culture war that directly apply on campus. One of the most powerful and compelling arguments for free speech in American history was born out of mob suppression. In 1860, Frederick Douglass wrote his “Plea for Free Speech in Boston” after a violent mob shut down an antislavery event. Every college and university — public or private — that receives federal funds has an affirmative duty to protect students’ civil rights. In the recent past, schools have sometimes been too enthusiastic about stopping harassment, defining the term so broadly that university anti-harassment policies actually violate students’ free speech rights.

Persons: George Washington, ”, “, Abraham, ” Washington, Johnson, Watts, they’re, Deactivating, Frederick Douglass, ” Douglass, Biden, Davis, VI, Scott Alexander’s, it’s, — Organizations: State University System of, Justice, Cooper Union, Cornell University, Trees School, . Ohio, Klan, Hamas, Civil, of Education, Cornell, Democratic Locations: State University System of Florida, Palestine, New York City, Ithaca, N.Y, ”, United States, America, Newport, R.I, Texas, Terminiello, Chicago, Brandenburg, ., Ohio, “, Gaza, Florida, Boston, Monroe County

☆ ByteDance says committed to VR business Pico after report of it shutting brand
▼ + stars: | 2023-10-24 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The statement came after Chinese research firm EqualOcean published a report saying that ByteDance founder Zhang Yiming told Pico's management team ByteDance would gradually give up on the Pico business. Pico is under normal operation and the company will continue to invest in the extended reality (XR) business over the long term," ByteDance said in a statement shared with Reuters. The Pico headsets are often seen as ByteDance's answer to the popular Quest headsets developed by Meta Platforms Inc (META.O). Pico has the biggest market share for VR headsets in China, accounting for over 58% of the market, as Meta's Quest devices have yet to enter the country officially. The Wall Street Journal reported earlier this year that Pico has increased its headset shipments last year while Meta's headset shipments declined.

Persons: Aly, ByteDance, EqualOcean, Zhang Yiming, Pico's, Pico, Bytedance, Josh Ye, Deborah Kyvrikosaios Organizations: REUTERS, Reuters, XR, Meta Platforms Inc, Street Journal, IDC, Thomson Locations: Shanghai, China, HONG KONG, Pico

LAHAINA, Hawaii (AP) — The death toll for the deadliest U.S. wildfire in more than a century has increased by one, to 99, after Maui County police found additional remains. The remains were recovered on Oct. 12 in Lahaina, police spokesperson Alana Pico said in an email Friday. So far police have identified the remains of 97 people from the Aug. 8 fire that wiped out much of Lahaina, a historic town on Maui's west coast. Powerful winds related to a hurricane passing to Hawaii's south carried embers from house to house and hampered firefighting efforts. More than 2,000 buildings were destroyed, and some 8,000 people were forced to move to hotels and other temporary shelter.

Persons: Alana Pico Organizations: Associated Press Locations: LAHAINA, Hawaii, Maui County, Lahaina, Maui's, Lahaina's, Hawaii's

Hawaiian Electric, the state’s primary electric utility company, has acknowledged its power lines started a wildfire on Maui that morning. One caller said cars were being routed into a gated parking lot and were forced to turn around. A third caller told dispatchers they needed to open a road on the south side of town, warning that the blocked exit would result in people dying. One dispatcher told a caller stuck in traffic that emergency workers were busy “because Lahaina has a couple of house fires going on right now.”“If you’re safe, you need to stay there,” she said. Associated Press writers Lisa Baumann in Seattle; Chris Keller in Albuquerque, New Mexico; and Claire Rush in Portland, Oregon, contributed.

Persons: ”, “, “ It’s, Alana Pico, Hale, cinders, we’ve, ‘, We’re, Mahina Martin, ” Martin, ” ____ Lauer, Johnson, Lisa Baumann, Chris Keller, Claire Rush Organizations: Associated Press, Electric, Hawaiian Electric, Flames, Maui Police Department, AP, Lahaina Civic Locations: LAHAINA, Hawaii, Maui, Lahaina, Philadelphia, Seattle, Boone, Boise , Idaho, Albuquerque , New Mexico, Portland , Oregon

☆ How the Azores islands went from whale hunting to whale watching
▼ + stars: | 2023-10-12 | by ( Anne Pinto | ) edition.cnn.com time to read: +10 min

Soon, factories processing whale oil, meat and bones sprung up on the islands. After crude oil was discovered in 1859, the demand for whale oil decreased dramatically in the following decades. In 1990, French national Serge Viallele set up the first whale watching company in the archipelago, on Pico island. The number of whale watching boats is strictly limited by a license system, which issues a maximum number per island – or per zone for the smaller islands. For now, whale watching remains a major draw for visitors to the islands.

Persons: ”, Rui de Souza Martins, Azorean, they’d, De Agostini, –, – didn’t, José Carlos Garcia, São Miguel, Pedro Madruga, wasn’t, Francois Gohier, Serge Viallele, “ Viallele, Miguel Cravinho, Francisco Garcia, ” de Souza Martins, you’ll, Martin Zwick, Jean, Michel Cousteau, Luís Silva, Garcia, “ Organizations: CNN, University of, Whaling, Whalers, Netflix, International Whaling Commission, IWC, Azul, World Cetacean Alliance, Centre for Research Locations: Azores, Lisbon, Azoreans, Portugal, United States, Nantucket and New Bedford , Massachusetts, Massachusetts, Pico, Francois, Terra Azul, Miguel, Europe

☆ Unity discovers how real the revenue struggle is
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su Acquire Licensing RightsNEW YORK, Sept 13 (Reuters Breakingviews) - Unity Software (U.N) is finding out just how hard the revenue game will be. The $14 billion company’s new plan to climb out of an unprofitable hole makes sense, but also faces considerable pushback. The strategy seeks to impose fees on video-game developers after certain revenue and install thresholds are met, eliciting a harsh response on social media on Tuesday. Unity may retain its customers, as switching suppliers can be a pain, but deeper-pocketed rivals such as Epic Games may see an opportunity to pounce. Silicon Valley’s revenue struggle is real.

Persons: Edgar Su, Robert Cyran, BoE, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: REUTERS, Reuters, Unity Software, Apple, Unity, X, Treasury, UBS, Thomson Locations: Pico, Singapore, Asia

☆ Portugal is the best European country for retirement based on cost of living, healthcare and more
▼ + stars: | 2023-08-19 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

1 best country in Europe to retire is Portugal. 1 best country in Europe for retirement: PortugalRetirement score: 7.83 Portugal is the best country in Europe for retirement. Portugal ranked as the best country to retire, according to the Moving to Spain report. 2 best country in Europe to retire. Italy tied with Spain as the second best country to retire.

Persons: It's, Alexander Spatari, Pol, Trevi Organizations: Global Citizens Solutions, UNESCO, Heritage, Portugal, Greece Bulgaria France Slovenia Croatia Malta Ireland, Med, World Bank, World Health Organization Locations: Spain, Europe, Portugal, U.S, SmartAsset, Alto Douro, Pico, Azores, Portugal Spain, Italy, Greece Bulgaria France, Madrid, Barcelona, Valencia, United States, Pisa

☆ Wildfire on Spain's Gran Canaria island 'stabilised' - emergency services
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

SANTA CRUZ DE TENERIFE, Spain, July 27 (Reuters) - Firefighters have "stabilised" a wildfire that ravaged 400 hectares of woodland in the centre of the Spanish island of Gran Canaria, local emergency services chief Federico Grillo said on Thursday. Three roads were closed off while emergency services deployed nine aircraft and 250 firefighters to contain the blaze. "Unfortunately, a house has burned down on Pico de las Nieves," Grillo said on messaging platform X, formerly known as Twitter. Earlier in July, 4,000 people were evacuated from their homes on the island of La Palma, near Gran Canaria, as a forest fire burned out of control while countries across Europe have struggled to cope with wildfires amidst a heatwave. Reporting by Corina Pons; Editing by David Latona and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Federico Grillo, Pico de las Nieves, " Grillo, Corina Pons, David Latona, Sharon Singleton Organizations: SANTA CRUZ, Gran Canaria, . Authorities, Twitter, Thomson Locations: SANTA, SANTA CRUZ DE TENERIFE, Spain, Spanish, Gran, Pico de, La Palma, Europe

☆ Interns and college students are using virtual reality to learn office skills without ‘repercussions’—but not everyone is sold on the metaverse
▼ + stars: | 2023-07-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +6 min

Apple's new Vision Pro virtual reality headset is displayed during Apple's Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023. College classes and internship programs are employing VR headsets to teach students and early talent the ropes of an office environment. Laura Bedalov, a customer success manager at Cappfinity, sets up the virtual reality workplace environment that colleges and internship programs are using to train young people. Within UCD's virtual reality world, which was developed in partnership with Cappfinity, students may take on the role of a human resources employee choosing a job candidate to hire. Maurice Knightly, education innovation lead at UCD's Innovation Academy who helped spearhead the VR class, says headset prices have gotten cheaper over time.

Persons: Laura Bedalov, Jeannie Liakaris, Rebecca Picciotto, Cappfinity, Ernst & Young, Alan O'Donnell, O'Donnell, Maurice Knightly Organizations: Apple's Worldwide, Apple, Meta, Microsoft, University College Dublin, UCD's Innovation Academy, UCD, VR, CNBC, Netflix, Pico Locations: Cupertino , California

☆ Review: A Lack of Passion Keeps This ‘Orpheus Descending’ Earthbound
▼ + stars: | 2023-07-18 | by ( Elisabeth Vincentelli | ) www.nytimes.com time to read: +2 min

That mythical figure is Val (Pico Alexander), and it’s easy to see why he fascinates Lady (Siff). For most of the play, Jabe is heard rather than seen, making his presence felt by imperiously knocking on the floor of the couple’s quarters, which are above the store. Like Val, Lady is different, which also puts her at odds in the community. Williams writes that Lady “verges on hysteria under a strain,” but Siff (best known for the Showtime series “Billions”) evokes neither. Here it is a hindrance, as she can’t quite give in to the forces pressing down on Lady.

Persons: Pico Alexander, Jabe, Michael Cullen, imperiously, Val, Williams, Siff, “, ” Alexander, ”, Marlon Brando, Anna Magnani, Uncle Pleasant, Schmidt, Mac Beth, Cyrano ”, Peter Dinklage, Carol Cutrere, Julia McDermott Organizations: Eastern Europe —, Ku Klux, Showtime Locations: Eastern Europe, runny eyeliner

☆ Fish Tacos al Pastor, Stained Delicious With a Complex, Brick-Red Adobo
▼ + stars: | 2023-06-25 | by ( Sam Sifton | ) www.nytimes.com time to read: 1 min

Good morning. Eric Kim had that opportunity recently at the restaurant Ensenada in Brooklyn, with the chef Luis Herrera. He wrote about it this week for The Times, and gave us an adaptation of Herrera’s recipe for fish tacos al pastor (above), which is our meal for this evening. It’s pretty cool — grilled fillets of buttery white-fleshed fish standing in for the more traditional pork, everything stained delicious with a complex, brick-red adobo, and served with pineapple pico de gallo and plenty of warm corn tortillas. Featured RecipeView Recipe →

Persons: Eric Kim, Luis Herrera, gallo Organizations: New York Times, The Times Locations: Ensenada, Brooklyn

☆ These Fish Tacos Couldn’t Be More Brilliant
▼ + stars: | 2023-06-21 | by ( Eric Kim | ) www.nytimes.com time to read: +2 min

And in Herrera’s recipe, it will occupy most of your time, but the return on investment couldn’t be higher. The resulting mixture gives a warmth and complexity — a “Hmm, what is that?” — to an otherwise breezy al pastor. When he first opened Ensenada, Herrera used pale out-of-season tomatoes that diluted the bright coastal flavors he wanted to showcase in these fish tacos. But it’s not just the pineapple that makes this fish al pastor — it’s the char. Al pastor, “in the style of a shepherd,” is a method of barbecuing meat on a rotating vertical spit that Lebanese immigrants brought to Mexico in the late 19th century.

Persons: Herrera, Cosme, pescado, —, gallo, chiles, Adobo, it’s Organizations: Alto Locations: Caracas, Venezuela, Manhattan, Ensenada, Mexico

☆ Three Books That Make Tess Gunty Angry
▼ + stars: | 2023-06-08 | by ( ) www.nytimes.com time to read: +4 min

I can’t believe I get to share a time period with all of these people. In this poem, the speaker is thunderstruck by a newfound “plague of gratitude.” The speaker says: “Not long ago I was hard to even/hug ... The poem plunged me into that first miraculous flash of hope you enjoy after a long storm of bad brain chemistry. They are facilitated by an absence of legal restrictions and the primeval excuse that if We don’t do it first, They will. My family is always shocked by how many books on neuroscience and quantum physics I’ve amassed.

Persons: Claudia Rankine, Anne Carson, Maggie Nelson, Yuri Herrera, Zadie Smith, Diane Williams, Valeria Luiselli, Olga Tokarczuk, Rachel Kushner, Elena Ferrante, Ben Lerner, Carmen Maria Machado, Joy Williams, Hanif Abdurraqib, Nuar Alsadir, Robin Coste Lewis, Natalie Diaz, Ocean Vuong, Sharon Olds, Morgan Parker, Tommy Pico, Terrance Hayes, Ada Limón, Tracy K, Smith, Annie Baker, Amy Herzog, Paula Vogel, Svetlana Alexievich, Rachel Aviv, Ed Yong, Matthew Desmond, Alexandra Kleeman, Susan Choi, Chris Ware, Tommy Orange, Javier Zamora, Jenny Offill, Annie Ernaux, Anne Enright, Lydia Davis, Raven Leilani, Mark Z, Jennifer Egan, George Saunders, Wolf, Kaveh Akbar, ” Akbar alchemizes, ”, I’m, Patrick Radden Keefe, Sackler, —, Brian Christian, I’ve, Iain McGilchrist, Alex Locations: Ocean, America, “, postindustrial Indiana

☆ Apple to sell Vision Pro AR headset for triple Meta's top-line price
▼ + stars: | 2023-06-05 | by ( Stephen Nellis | ) www.reuters.com time to read: +6 min

[1/4] People use cameras as Apple's Vision Pro headsets are on display at Apple's annual Worldwide Developers Conference at the company's headquarters in Cupertino, California, U.S. June 5, 2023. Apple's headset will be available early next year in the U.S. with more countries coming later in 2024. The Vision Pro has two hours of use with an external battery, which Apple said would reduce the weight on the user's head. Investors and tech fans alike are focused on how much Apple's view of the virtual reality market overlaps with Meta's. In addition to Meta, Sony Group Corp (6758.T) and ByteDance-owned Pico both recently released virtual reality devices.

Persons: Loren Elliott CUPERTINO, Apple, Alan Dye, Tim Cook, Walt Disney's, Mark Zuckerberg, there's, John Ternus, Apple's, Craig Federighi, Stephen Nellis, Yuvraj Malik, Dawn Chmielewski, Katie Paul, Peter Henderson, Aditya Soni, Lisa Shumaker Organizations: Developers, REUTERS, Apple Inc, Pro, Apple, Vision, Reuters, Adobe, Microsoft, Unity, Meta, Sony Group Corp, Pico, Research, IDC, Mac Pro, Mac, Intel, Thomson Locations: Cupertino , California, U.S, Loren Elliott CUPERTINO , California, Bengaluru, Dawn, Los Angeles, New York

☆ Apple expected to reveal mixed-reality headset at developer conference
▼ + stars: | 2023-06-05 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

CUPERTINO, California, June 5 (Reuters) - Apple Inc (AAPL.O) is expected to unveil a mixed-reality headset at its annual software developer conference on Monday, its first big move into a new product category since the introduction of the Apple Watch nine years ago. Like Meta's Quest Pro from last year and Quest 3 announced last week, Apple's device is likely to blend a video feed from the outside world with a virtual world displayed on screens inside the headset. Investors and tech fans alike will be focusing on how much Apple's view of the virtual reality market overlaps with Meta's. In addition to Meta, Sony Group Corp (6758.T) and ByteDance-owned Pico both recently released virtual reality devices. Investors will also look for updates on CarPlay, Apple's software for vehicles, which the company said last year would start to power more dashboard functions.

Persons: It's, Mark Zuckerberg, Stephen Nellis, Edwina Gibbs Organizations: Apple Inc, Apple Watch, Apple, Facebook, Meta, Meta's, Quest, Sony Group Corp, Pico, Research, IDC, Apple Park, Thomson Locations: CUPERTINO , California, San Francisco

☆ In challenge to Meta, Apple expected to unveil mixed-reality headset
▼ + stars: | 2023-06-02 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

"Meta and Apple are competing with each other. The difference is that Meta is doing it publicly, while Apple is doing it privately," said Anshel Sag, principal analyst at Moor Insights & Strategy. Analysts say that the Apple device, which Bloomberg has reported could cost near $3,000 and look like a pair of ski goggles, is a place holder of sorts. While Meta has products on the market, Apple has major advantages in defining the emerging field among software developers, said Jitesh Ubrani, a research manager who tracks the XR market at IDC. "And Apple is in a much better position to give you an experience that works across devices than Meta is."

Persons: Tim Cook, Mark Zuckerberg, Zuckerberg, Greg Joswiak, iPhones, Sag, Ben Bajarin, Meta, Jitesh Ubrani, Ubrani, Stephen Nellis, Peter Henderson, Matthew Lewis Organizations: FRANCISCO, Apple Inc, Apple, Worldwide Developers, Meta, Moor, Strategy, Analysts, Bloomberg, Sony Group Corp, Quest, Creative, IDC, San, Thomson Locations: California, Cupertino , California, Silicon Valley, San Francisco

☆ Meta unveils Quest 3 mixed reality headset ahead of Apple's VR debut
▼ + stars: | 2023-06-01 | by ( Katie Paul | ) www.reuters.com time to read: +2 min

NEW YORK, June 1 (Reuters) - Meta Platforms (META.O) CEO Mark Zuckerberg on Thursday revealed the company's next generation mixed reality headset, the Quest 3, as it braces for Apple to potentially reshape the nascent market that Meta has dominated so far. Priced starting at $499, the device will be 40% thinner than the company's previous headset and feature color mixed reality, which combines augmented and virtual reality (AR/VR) elements, Zuckerberg said in an Instagram post. Zuckerberg's announcement came less than a week before tech rival Apple (AAPL.O) was expected to unveil its first mixed reality device. Meta's devices comprised nearly 80% of the 8.8 million virtual reality headsets sold in 2022, according to an estimate by market research firm IDC. Its high-end Meta Quest Pro now retails for about $1,000, down from a launch price of $1,500, and the Quest 2's 256 GB version now starts at about $430, down from $500.

Persons: Mark Zuckerberg, Zuckerberg, Pico, Meta, Katie Paul, Yuvraj Malik, Lisa Shumaker Organizations: YORK, Apple, Meta, Qualcomm, IDC, TikTok, Thomson

☆ Check out the 8-slide pitch deck German health tech startup Patient21 used to raise $108 million in a mix of equity and debt
▼ + stars: | 2023-05-23 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

The startup offers both in-person clinical services and software for healthcare providers. We got an exclusive look at the 8-slide deck it used to raise the fresh funds. A startup that combines brick-and-mortar clinical services with software for healthcare providers just raised $108 million in fresh funds despite a drop off in global healthtech funding. While the average dental clinic in Germany operates four to six different software solutions to manage a whole patient journey, Patient21 aims to stand out by consolidating these services into one. With the fresh funds, Patient21 will hone the development of its software platform, and expand from Germany into newer European markets.

☆ Creator startup Pico has rebranded as Hype and closed $10M in Series A funding. Here's the 13-page pitch deck cofounder Nick Chen used to attract investors.
▼ + stars: | 2023-04-05 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +2 min

Cofounder Nick Chen said VCs told him to make the first few pitch deck slides very objective. Here's the exact 13-page pitch deck he created to attract investors like Bloomberg Beta. Creator startup Hype, formerly known as Pico, closed a $10 million Series A funding round led by King River Capital, the company announced on Wednesday. "I stayed in touch with Megan [Guy] from King River Capital for about a year, meeting up whenever she was in New York. Here's the exact 13-page pitch deck that Hype used to raise funds from investors that include Bullpen Capital, Precursor Ventures, Bloomberg Beta, Tapestry VC, and Sterling Road:

☆ Tencent in talks with Meta to sell Quest VR headsets in China - sources
▼ + stars: | 2023-02-21 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

HONG KONG, Feb 21 (Reuters) - Tencent Holdings (0700.HK) is in talks with Meta Platforms Inc (META.O) to distribute its Meta Quest line of virtual reality headsets in China, three people familiar with the matter said. The talks between Tencent and Meta started last year and have continued in recent months, according to one of the sources who has direct knowledge of the matter, adding that the talks remain early stage and details have yet to be agreed. Tencent and Meta did not immediately respond to requests for comment on Tuesday. Tencent is mostly known for software that includes a suite of games and social media applications. It sells the Nintendo Switch console in China through a partnership with the Japanese gaming firm (7974.T) established four years ago.

☆ Exclusive: Tencent scraps plans for VR hardware as metaverse bet falters - sources
▼ + stars: | 2023-02-17 | by ( Josh Ye | ) www.reuters.com time to read: +4 min

The world's largest video game publisher had ambitious plans to build both virtual reality software and hardware at an "extended reality" XR unit it launched in June last year, for which it hired nearly 300 people. One of the sources said the XR project was not expected to become profitable until 2027, according to an internal forecast. The company also said on Thursday that it was not disbanding the XR unit. It also entered into a race against Western peers such as Meta Platforms (META.O) and Microsoft (MSFT.O), which are building their own metaverses and have their own virtual reality hardware projects. Pico, a virtual reality (VR) headset manufacturer owned by TikTok's Chinese developer ByteDance, said on Friday it was laying off a small number of people, after local media reported the start of hundreds of redundancies earlier this week.

☆ Mysterious object destroyed by a $400,000 Sidewinder missile may have been a $12 hobby group balloon
▼ + stars: | 2023-02-17 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

The mysterious objects shot down over the US may have been hobbyist or weather balloons. One balloonist club believes its $12 balloon may have been among the objects destroyed. The club said that it had been tracking the course of its silver pico balloon. A pico balloon can cost anywhere from $12 to $180. And they're going to look not too intelligent to be shooting them down," Ron Meadows, whose California company designs pico balloons told Aviation Week.

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