Meta operates a global platform company that connects people through a family of social and messaging applications including Facebook, Instagram, Messenger, WhatsApp, and Threads, generating substantially all revenue from advertising sold to marketers across these properties. The company also develops immersive technologies through Reality Labs, including VR headsets, AI glasses, and AR devices, which generate revenue from consumer hardware and software sales but operate at a loss as the company invests in next-generation computing platforms. Meta competes globally in social networking, advertising technology, messaging, and emerging areas like AI model development and AR/VR hardware, differentiating itself through custom infrastructure, frontier artificial intelligence capabilities, and a diverse ecosystem of consumer-facing products.