I just spent an entire week working in virtual reality using the new Meta Quest 3. While the experience still mostly sucked, I came away with some renewed optimism for VR in the workplace.
As I took Ron’s outstretched, virtual hand for a handshake, my actual hand — in the real world — clumsily whacked into the side of my desk.
Ron from Microsoft showing how to use hand gestures to interact with the menu and other useful shortcuts in the Immersed app.
Ron started laughing, his avatar’s animated facial expressions mimicking his real face thanks to his device’s eye and facial tracking technology.
A project manager at Microsoft, Ron tells me it’s something I’ll get used to. He’s been working in the metaverse for over a year.
Days later, I meet Heather, a mother who’s been working in virtual reality for a couple of months. She likes to jump into the metaverse to work when her kids are at school and the house is quiet.
Then there was Miguel, a recruiter at Netflix, an “OG” user of the virtual reality app Immersed, who’s been using it to work for the last two years.
The big question is: Why would you want to?
Only two hours in, my eyes are burning
As impressive as it all sounds, after working in the metaverse for a week myself, I’m not sure how anyone could do it for longer.
I spent most of the seven days clocking in and out through the virtual coworking app Immersed, which can be found on the Meta Quest store but can be downloaded from other platforms, too.
Most days, I would be joined by as many as a dozen other VR users, depending on the time of day and which public workspace I chose. (The “Cafe” setting seemed to be the most popular.)
You can even set up a virtual web camera so you can do Zoom-style meetings with your non-VR colleagues.
Initially, I was going to spend the week using Meta’s home-grown Horizon Workrooms, but I quickly switched to Immersed after realizing Horizon Workrooms didn’t support public workspaces and also lacked important quality-of-life features, such as the ability to move and adjust screen size and distance.
The setup wasn’t too difficult in either case. When you first strap on the Meta Quest 3 headset, the device will scan your surroundings to understand where you are within your room (in my case, the office) and where certain obstacles are, such as bookshelves, desks and chairs. This is so it can warn you if you’re getting too close to a wall or obstacle when you’re immersed in VR.
Virtual screens can be positioned in your real working space, allowing one to be more present in the real world.
To be able to interact with your computer in virtual reality, there’s a companion app that needs to be installed on your PC, which will then allow the app to retrieve the necessary information from your computer and beam it into your headset via cable or WiFi in the same way most remote desktop apps work.
In Immersed, your virtual screens can be rotated, resized and moved anywhere you want. You can even choose to work in mixed reality, allowing you to superimpose virtual screens among your real-life surroundings.
But it wasn’t much help. At the end of each day, I was left nursing a splitting headache and trying to rub the immense strain from my eyes. My neck always felt stiff, a side effect of being weighed down by the bulky headset.
And for what? Most days, I struggled to achieve the same level of output compared to a regular day in front of the PC.
My experience is far from unique. In 2022, researcher Dr. Jens Grubert at the Coburg University of Applied Sciences in Germany gathered 18 people to participate in a study of the effects of working in VR for a week.
Two dropped out within the first few hours due to nausea, anxiety and migraines, while the others who managed to finish the week reported increased levels of frustration and anxiety.
They also reported a significant decrease in their own perceived productivity compared to working in the real world. All suffered eye strain, though this seemed to diminish as time went on.
How it looks to you while you are learning to cook in the mixed-reality metaverse.
In April, research firm Forrester found that, while there’s a lot of hype around the possibilities of working in VR, there’s not a lot of it happening in reality… virtual or otherwise.
Forrester’s research found that only 2% of respondents said they preferred to use a mixed-reality device for work. The hardware is still too cumbersome to use for a long stretch of time, according to J.P. Gownder, principal analyst of Forrester’s Future of Work team.
How you look when preparing dinner in mixed reality.
OK, some bits are impressive
But despite all the annoyances, eye strain and headaches, there were also a few times I was genuinely impressed with the experience.
Working in a virtual environment next to other like-minded people turned my regular remote, isolated working existence into something that was far less lonely.
In the week I spent in VR, I sat and worked alongside a digital marketer from Canada, a software developer from the United States and a salesman for a firm offering e-commerce solutions. We chatted about sports, what we each did for work. It felt like real networking.
Hanging out with additional screens.
“The biggest benefit is the ability to interact with people all over the world very effortlessly. I work from home with no one around,” explains Pat, the digital marketer.
“With VR, you can choose whether you want to be chatting with others, or you can either mark yourself as ‘Do Not Disturb’ or grab a private room.”
Ron from Microsoft also tells me he often prefers working out of VR and takes his headset everywhere, including his home office, a client’s office, or on occasions he needs to report to the tech firm’s headquarters in Seattle, Washington.
And he points out that virtual reality is not constrained by carry-on weight or size limits, and the headset essentially allows him to take five monitors with him anywhere he goes.
Conducting meetings can also be a game-changer in virtual reality.
There’s something very oddly natural about being able to shake hands with someone more than 10,000 miles away, even if they lack a physical form. It’s something that a Zoom meeting could never replicate.
Having a chat with a co-worker is a benefit.
Other times, I simply admired how focused my virtual reality co-workers were, prompting me to do the same.
There was also the freedom of being able to switch my “office” environment — from a space station orbiting Earth to a cozy chalet on a snow-capped mountain, a fireplace quietly crackling in the corner.
Metaverse skeptics raised their eyebrows when Meta CEO Mark Zuckerberg touted his lofty vision for the metaverse at the 2021 Connect event.
“We’ll be able to feel present like we’re right there with people no matter how far apart we actually are,” said Zuckerberg. Many then laughed as the tech magnate sunk tens of billions into research and development for his loss-making Reality Labs division — seemingly only to produce legless, blank-eyed monstrosities via Meta’s Horizon Worlds.
Mark Zuckerberg launches Horizon Worlds with an “eye-gougingly ugly VR selfie.” (Facebook)
But that laughter is quietening. In September, Zuckerberg showed that the technology is far further forward than we thought.
During a face-to-face conversation with computer scientist and podcaster Lex Fridman, Zuckerberg showed off the latest version of Codec Avatars, one of Meta’s longest-running research projects aimed at generating photorealistic metaverse avatars.
The tech was met with awe from onlookers, including Fridman himself.
“I’m already forgetting that you’re not real.” However, the tech requires specialized equipment and is at least three years away from being available to everyday consumers. Zuckerberg said he hopes the scanning process could eventually be done with smartphones.
Meta’s latest version of VR uses a self-contained, standalone headset that displays a stereoscopic image via LCD screens through “pancake” lenses, offering a wider field of view than its predecessors while being lighter and thinner. Motion and hand tracking are achieved through a mix of accelerometers, gyroscopes and four outward-facing cameras, while another two cameras are used to display colored “passthrough” – useful when engaging in mixed reality experiences.
Meanwhile, there’s considerable anticipation over Apple’s Vision Pro, which is set to launch in the first quarter of 2024. While it comes with eye-tracking, 4K resolution and Apple EyeSight, which may also impact the future of work, it also comes with an eye-watering $3,499 price tag.
Apple says the “spatial computing” device will allow users to “set up the perfect workspace.”
Apple Vision Pro has an eye-wateringly high price. (Apple)
So, is VR work ready for primetime?
As I reflect on my week in virtual reality, I’m enjoying a coffee in a very real, definitely not virtual coffee shop in Sydney’s Western suburbs.
Occasionally, I miss my VR work friends and the serenity of my cozy virtual chalet.
But until the tech gets smaller, lighter and less clunky, I’ll probably stick to Slack huddles and my trusty PC on its wooden desk.
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Felix Ng
Felix Ng first began writing about the blockchain industry through the lens of a gambling industry journalist and editor in 2015. He has since moved into covering the blockchain space full-time. He is most interested in innovative blockchain technology aimed at solving real-world challenges.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, marks their 50th birthday amid a year of rising institutional and geopolitical adoption of the world’s first cryptocurrency.
The identity of Nakamoto remains one of the biggest mysteries in crypto, with speculation ranging from cryptographers like Adam Back and Nick Szabo to broader theories involving government intelligence agencies.
While Nakamoto’s identity remains anonymous, the Bitcoin (BTC) creator is believed to have turned 50 on April 5 based on details shared in the past.
According to archived data from his P2P Foundation profile, Nakamoto once claimed to be a 37-year-old man living in Japan and listed his birthdate as April 5, 1975.
Nakamoto’s anonymity has played a vital role in maintaining the decentralized nature of the Bitcoin network, which has no central authority or leadership.
The Bitcoin wallet associated with Nakamoto, which holds over 1 million BTC, has laid dormant for more than 16 years despite BTC rising from $0 to an all-time high above $109,000 in January.
Satoshi Nakamoto statue in Lugano, Switzerland. Source: Cointelegraph
Nakamoto’s 50th birthday comes nearly a month after US President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.
Nakamoto’s legacy: a “cornerstone of economic sovereignty”
“At 50, Nakamoto’s legacy is no longer just code; it’s a cornerstone of economic sovereignty,” according to Anndy Lian, author and intergovernmental blockchain expert.
“Bitcoin’s reserve status signals trust in its scarcity and resilience,” Lian told Cointelegraph, adding:
“What’s fascinating is the timing. Fifty feels symbolic — half a century of life, mirrored by Bitcoin’s journey from a white paper to a trillion-dollar asset. Nakamoto’s vision of trustless, peer-to-peer money has outgrown its cypherpunk roots, entering the halls of power.”
However, lingering questions about Nakamoto remain unanswered, including whether they still hold the keys to their wallet, which is “a fortune now tied to US policy,” Lian said.
In February, Arkham Intelligence published findings that attribute 1.096 million BTC — then valued at more than $108 billion — to Nakamoto. That would place him above Microsoft co-founder Bill Gates on the global wealth rankings, according to data shared by Coinbase director Conor Grogan.
If accurate, this would make Nakamoto the world’s 16th richest person.
Despite the growing interest in Nakamoto’s identity and holdings, his early decision to remain anonymous and inactive has helped preserve Bitcoin’s decentralized ethos — a principle that continues to define the cryptocurrency to this day.
The United States stock market lost more in value over the April 4 trading day than the entire cryptocurrency market is worth, as fears over US President Donald Trump’s tariffs continue to ramp up.
On April 4, the US stock market lost $3.25 trillion — around $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of publication.
Nasdaq 100 is now “in a bear market”
Among the Magnificent-7 stocks, Tesla (TSLA) led the losses on the day with a 10.42% drop, followed by Nvidia (NVDA) down 7.36% and Apple (AAPL) falling 7.29%, according to TradingView data.
The significant decline across the board signals that the Nasdaq 100 is now “in a bear market” after falling 6% across the trading day, trading resource account The Kobeissi Letter said in an April 4 X post. This is the largest daily decline since March 16, 2020.
“US stocks have now erased a massive -$11 TRILLION since February 19 with recession odds ABOVE 60%,” it added. The Kobessi Letter said Trump’s April 2 tariff announcement was “historic” and if the tariffs continue, a recession will be “impossible to avoid.”
Even some crypto skeptics have pointed out the contrast between Bitcoin’s performance and the US stock market during the recent period of macro uncertainty.
Stock market commentator Dividend Hero told his 203,200 X followers that he has “hated on Bitcoin in the past, but seeing it not tank while the stock market does is very interesting to me.”
Meanwhile, technical trader Urkel said Bitcoin “doesn’t appear to care one bit about tariff wars and markets tanking.” Bitcoin is trading at $83,749 at the time of publication, down 0.16% over the past seven days, according to CoinMarketCap data.
The cost of having staff is going up this Sunday as the increase in employers’ national insurance kicks in.
Chancellor Rachel Reeves announced in the October budget employers will have to pay a 15% rate of national insurance contributions (NIC) on their employees from 6 April – up from 13.8%.
She also lowered the threshold at which employers pay NIC from £9,100 a year to £5,000 a year, meaning they start paying at an earlier point on staff salaries.
This is on top of the national minimum wage rising, the business relief rate for hospitality, retail and leisure reducing from 75% to 40% and the rising cost of ingredients and services.
Sky News spoke to people working in some of the industries that will be hardest hit by the rise in NIC: Nurseries, hospitality, retail, small businesses and care.
NURSERIES
Nearly all (96% of 728) nurseries surveyed by the National Day Nurseries Association (NDNA) said they will have no choice but to put up fees because of the NIC rise, leaving parents to pick up the shortfall.
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The NDNA has warned nurseries could close due to the rise, with 14% saying their business is at risk, 69% reducing spending on resources and 39% considering offering fewer places with government-funded hours as 92% said they do not cover their costs.
Sarah has two children, with her youngest starting later this month, but they were just informed fees will now be £92 a day – compared with £59 at the same nursery when her eldest started five years ago.
“I’m not sure how we will afford this. Our salaries haven’t increased by 50% during this time,” she said.
“We’re stuck as there aren’t enough nursery spaces in our area, so we will have to struggle.”
Karen Richards, director of the Wolds Childcare group in Nottinghamshire, has started a petition to get the government to exempt private nurseries – the majority of providers – from the NIC changes as she said it is unfair nurseries in schools do not have to pay the NIC.
She told Sky News she will have to find about £183,000 next year to cover the increase across her five nurseries and reducing staff numbers is “not off the table” but it is more likely they will reduce the number of children they have.
Image: Joeli Brearley, founder of Pregnant Then Screwed, said parents are yet again having to pay the price for the government’s actions. Pic: Pregnant Then Screwed
Joeli Brearley, founder of the Pregnant Then Screwed campaign group, told Sky News: “Parents are already drowning in childcare costs, and now, thanks to the national insurance hike, nurseries are passing even more fees on to families who simply can’t afford it.
“It’s the same story every time – parents pay the price while the government looks the other way. How exactly are we meant to ‘boost the economy’ when we can’t even afford to go to work?”
Purnima Tanuku, executive chair of the NDNA, said staffing costs make up about 75% of nurseries’ costs and they will have to find £2,600 more per employee to pay for the NIC rise – £47,000 for an average nursery.
“The government says it wants to offer ‘cheaper childcare’ for parents on the one hand but then with the other expects nurseries to absorb the costs of National Insurance Contributions themselves,” she told Sky News.
“High-quality early education and care gives children the best start in life and enables parents to work. The government must invest in this vital infrastructure to make sure nurseries can continue to deliver this social and economic good.”
HOSPITALITY
The hospitality industry has warned of closures, price rises, lack of growth and shorter opening hours.
Dan Brod, co-owner of The Beckford Group, a small southwest England restaurant and country pub/hotel group, said the economic situation now is “much worse” than during COVID.
The group has put plans for two more projects on hold and Mr Brod said the only option is to put up prices, but with the rising supplier costs, wages, business rates and NIC hike they will “stay still” financially.
Image: Dan Brod, co-owner of The Beckford Group, said the government does not value hospitality as an industry. Pic: The Beckford Group
He told Sky News: “What we’re nervous about is we’re still in the cost of living crisis and even though our places are in very wealthy areas of the country, Wiltshire, Somerset and Bath, people are feeling the situation in their pockets, people are going out less.”
Mr Brod said they are not getting rid of any staff as their business strongly depends on the quality of their hospitality so they are having to make savings elsewhere.
“I’m still optimistic, I still feel that humans need hospitality but we’re not valued as an industry and the social benefit is never taken into account by government.”
Image: Chef/owner Aktar Islam, who runs Opheem in Birmingham, said the rise will cost him up to £120,000 more this year. Pic: Opheem
Aktar Islam, owner/chef at two Michelin-starred Opheem in Birmingham, said the NIC rise will cost him up to £120,000 more in staff costs a year and to maintain the financial position he is in now they would have to make “another million pounds”.
He got emails from eight suppliers on Thursday saying they were raising their costs, and said he will have to raise prices but is concerned about the impact on diners.
The restaurateur hires four commis chefs to train each year but will not be able to this year, or the next few.
“It’s very short-sighted of the government, you’re not going to grow the economy by taxing hospitality out of existence, these sort of businesses are the lifeblood of our economy,” he said.
“They think if a hospitality business closes another will open but people know it’s tough, why would they want to do that? It’s not going to happen.”
The chef sent hundreds of his “at home” kits to fellow chefs this week for their staff as an acknowledgement of how much of a “s*** show” the situation is – “a little hug from us”.
RETAIL
Some of the UK’s biggest retailers, including Tesco, Boots, Marks & Spencer and Next, wrote to Rachel Reeves after the budget to say the NIC hike would lead to higher consumer prices, smaller pay rises, job cuts and store closures.
The British Retail Consortium (BRC), representing more than 200 major retailers and brands, said the costs are so significant neither small or large retailers will be able to absorb them.
Andrew Bailey, the governor of the Bank of England, told the Treasury committee in November that job losses due to the NIC changes were likely to be higher than the 50,000 forecast by the Office for Budget Responsibility (OBR).
Image: Big retailers have warned the NIC rise will lead to higher prices, job cuts and store closures. File pic: PA
Nick Stowe, chief executive of Monsoon and Accessorize, said retailers had the choice of protecting staff numbers or cancelling investment plans.
He said they were trying to protect staff numbers and would be increasing prices but they would likely have to halt plans to increase store numbers.
Helen Dickinson, head of the BRC, told Sky News the national living wage rise and NIC increase will cost businesses £5bn, adding more than 10% to the cost of hiring someone in an entry-level role.
A further tax on packaging coming in October means retailers will face £7bn in extra costs this year, she said.
“This huge cost burden will undoubtedly reduce investment in stores and jobs and is likely to lead to higher prices,” she added.
SMALL BUSINESSES
A massive 85% of 1,400 small business owners surveyed by the Federation of Small Businesses (FSB) in March reported rising costs compared with the same time last year, with 47% citing tax as the main barrier to growth – the highest level in more than a decade.
Just 8% of those businesses saw an increase in staff numbers over the last quarter, while 21% had to reduce their workforce.
Kate Rumsey, whose family has run Rumsey’s Chocolates in Wendover, Buckinghamshire and Thame, Oxfordshire, for 21 years, said the NIC rise, minimum wage increase and business relief rate reduction will push her staff costs up by 15 to 17% – £70,000 to £80,000 annually.
To offset those costs, she has had to reduce opening hours, including closing on Sundays and bank holidays in one shop for the first time ever, make one person redundant, not replace short-term staff and introduce a hiring freeze.
The soaring price of cocoa has added to her woes and she has had to increase prices by about 10% and will raise them further.
Image: Kate Rumsey, who runs Rumsey’s Chocolates in Buckinghamshire and Oxfordshire, said they are being forced to take a short-term view to survive. Pic: Rumsey’s Chocolates
She told Sky News: “We’re very much taking more of a short-term view at the moment, it’s so seasonal in this business so I said to the team we’ll just get through Q1 then re-evaluate.
“I feel this is a bit about the survival of the fittest and many businesses won’t survive.”
Tina McKenzie, policy chair of the FSB, said the NIC rise “holds back growth” and has seen small business confidence drop to its lowest point since the first year of the pandemic.
With the “highest tax burden for 70 years”, she called on the chancellor to introduce a “raft of pro-small business measures” in the autumn budget so it can deliver on its pledge for growth.
She reminded employers they can claim the Employment Allowance, which has doubled after an FSB campaign to take the first £10,500 off an employer’s annual bill.
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National Insurance rise impacts carers
CARE
The care sector has been warning the government since the October that budget care homes will be forced to close due to the financial pressures the employers’ national insurance rise will place on them.
Care homes receive funding from councils as well as from private fees, but as local authorities feel the squeeze more and more their contributions are not keeping up with rising costs.
The industry has argued without it the NHS would be crippled.
Raj Sehgal, founding director of ArmsCare, a family-run group of six care homes in Norfolk, said the NIC increase means a £360,000 annual impact on the group’s £3.6m payroll.
In an attempt to offset those costs, the group is scrapping staff bonuses and freezing management salaries.
It is also considering reducing day hours, where there are more staff on, so the fewer numbers of night staff work longer hours and with no paid break.
Image: Raj Sehgal said his family-owned group of care homes will need £360,000 extra this year for the NIC hike
Mr Sehgal said: “But what that does do unfortunately, is impact the quality you’re going to be able to provide, at a time when we need to be improving quality, but something has to give.
“The government just doesn’t seem to understand that the funding needs to be there. You cannot keep enforcing higher costs on businesses and not be able to fund those without actually finding the money from somewhere.”
He said the issue is exacerbated by the fact local authority funding, despite increasing to 5%, will not cover the 10% rise.
“It’s going to be a really, really tough ride. And we are going to see a number of providers close their doors,” he warned.
Nadra Ahmed, executive co-chair of the National Care Association, said those who receive, or are waiting to access, care as well as staff will feel the impact the hardest.
“As providers see further shortfalls in the commissioning of care services, they will start to limit what they can do to ensure their viability or, as a last resort exit the market,” she said.
“This is very short-sighted, with serious consequences, which alludes to the understanding of this government.”
Government decided to ‘wipe the slate clean’
A Treasury spokesperson told Sky News the government is “pro-business” but has “taken the difficult but necessary decisions to wipe the slate clean and properly fund our public services after years of declines”.
“Our budget choices have already delivered an NHS with falling waiting lists, a £3.7bn rescue package for social care, and vital protection for Britain’s small businesses,” they said.
“We’re making tough choices today to secure a better tomorrow through our Plan for Change. By investing in economic growth and early years education while capping corporation tax, we’re putting more money in working people’s pockets and giving every child the best start in life.”