Meta, the parent company of Facebook and Instagram, is reportedly losing developers to Snap Inc., a rival in the augmented reality (AR) space. According to Bloomberg, Snap has successfully poached several Meta engineers and researchers who are now working on AR projects for Snapchat and other platforms. This development highlights the intense competition between Meta and Snap as they vie for dominance in the rapidly growing AR market.

Source: https://www.bloomberg.com/news/articles/2024-10-23/meta-is-losing-developers-to-snap-amid-ar-rivalry