The memo outlines priorities for 'serious times.'
. Cox says monetizing Reels, the company’s short-form video TikTok copy, “as quickly as possible” is a key priority.Cox also lays out six areas where he believes Facebook needs to deepen its investments. These include metaverse products; AI; messaging; continuing to push Reels; monetization; and meeting new privacy requirements. Cox says teams will have to “prioritize more ruthlessly” without the help of new staff or budgets.
I will note these are not a statement of our absolute priorities as a company. We will continue our industry-leading investments in the foundational areas of integrity, security, infrastructure, core products, and ranking, while also continuing expensing R&D investments in how we will deliver the next computing platform across our portfolio in Reality Labs. Instead, these are the places where we see the biggest gaps between what we have today and what we need to fulfill the roadmaps ahead.
The six investment priorities for this half are largely the same as last half . These are nested in the context of the long-term roadmap, product vision, and strategy that Mark and I shared at our last company all-hands in February . Here they are.: Avatars and Horizon Worlds + Platform remain the key priorities, and our focus now is on execution. On Avatars, we need to finalize our new art style, fully launch our avatar art store, and improve avatar experiences across VR and the Family of Apps.
I have to underscore that we are in serious times here and the headwinds are fierce. We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets. We must prioritize more ruthlessly, be thoughtful about measuring and understanding what drives impact, invest in developer efficiency and velocity inside the company, and operate leaner, meaner, better exciting teams.
Mark will share more on these priorities and our outlook overall at our next Q&A. In the meantime, I remain very excited about our product plans and look forward to heading into the second half of this year with you all.
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