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00:00Now, I know Meta has invested a lot, a lot in VR,
00:05hasn't really paid off as a product category just yet.
00:08But what is the interest?
00:10What's the appetite from advertisers?
00:12What's the opportunity?
00:13Yeah, so look, Mark set out a vision, a decade-long vision,
00:16in terms of how he sees virtual reality coming in.
00:20And we just announced, a couple of weeks
00:22ago at our developer conference, the latest Quest
00:25device, the 3S, which is really exciting.
00:28I don't know if you've tried it.
00:29But every time I put our latest version on,
00:32I'm kind of blown away by how it feels and how it is.
00:36What we also shared recently, though,
00:38was Orion, our first AR glasses, wireless, which, again,
00:43when I tried it, I couldn't believe what I was seeing.
00:46There was one moment when, and a lot of this is powered by AI,
00:51the vision for the Metaverse that Mark has set out,
00:54VR, AR, and AI, they're all happy bedfellows
00:57coming together.
01:00I had the experience of looking at a fridge, my glasses,
01:04and I were looking at the fridge.
01:05And I said, hey, I'd like to make a smoothie with the things
01:08that are in there.
01:09And a screen in front of my eyes came up
01:12with menu suggestions of what I could create.
01:15I was like, whoa, this is unbelievable.
01:18Then I was like, well, I'm going to try and trick it.
01:20I took a couple of the things away.
01:21And I said, now what would you suggest I create?
01:24Totally different recipe.
01:25Is that right?
01:26Yeah.
01:26And you see the same sorts of things where,
01:28and a lot of this is controlled by eye movement,
01:31and also with a device on your wrist.
01:33So you can make a haptic device on your wrist.
01:35So you can make small movements with your hands
01:37to either flick things on or move things on
01:39or move things left and right.
01:41Honestly, it blew my mind.
01:42I was beyond excited about it.
01:44Now, this is a prototype.
01:46You can't go out and buy it just yet,
01:47but it's an indication of where this is going.
01:50But so clearly there's an advertising opportunity here.
01:53When does it translate into real money?
01:56Yeah, so the way that Matter has built all of its products
01:59is we always start with people.
02:01Right back to the first question you asked me.
02:02How are people utilizing these things?
02:05Really understand that, get the usage up,
02:08and then we'll think about monetization after.
02:10We are not even thinking about that
02:12when it comes to these sorts of devices at this time.
02:16It's much more about getting out to people,
02:18people enjoying it, seeing it, and then
02:20we'll think about the other thing.
02:22You must have some thoughts.
02:25Well, actually, it goes back to the creator economy
02:27side of things.
02:29More and more people are creators today,
02:32even than there were five years ago,
02:33and more will be in another five and 10 years.
02:36So I think that's probably one of the areas
02:38that you would look at and think about first
02:40is in terms of how do you ensure that those creators that
02:42are coming with their followings,
02:44with their audiences, how do you make it something
02:47that they can flourish in?
02:48Because if they flourish, the ecosystem
02:51will flourish around them.