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Zuckerberg shows off Meta headsets, Osaka and LeBron launch media company, Rubin to sell 76ers stake

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Yahoo Finance anchors discuss business headlines, including Meta's headset prototypes, Naomi Osaka and LeBron James launching a media company, and the Fanatics CEO planning to sell his ownership stake in the 76ers.

Video Transcript

JULIE HYMAN: Let's turn to the stories that were cut for time and look at three stories influencing headlines, all a minute each. First up, Mark shows off Meta's prototype headsets and glasses-- Mark Zuckerberg, that is. The CEO of the company previously known as Facebook demoing augmented reality and virtual reality headsets designed for connecting to the company's Metaverse services. That demonstration took place during a roundtable presentation.

And these aren't things that are for sale yet or that he's, like, sort of making public on a broader basis. It was more just kind of showing what the company has been working on, which, I guess, in and of itself, shows that they're still pretty early days.

BRAD SMITH: Yeah, Marky Mark, as he goes by in the Metaverse, right? I mean, it's really just more about this $10 billion that they're going to be spending on the Metaverse, trying to get the hardware and the user experience right within that hardware technology. But it does come down to an install base that Facebook is going to need to rely on to really make the Metaverse work. And I think that's exactly where they're going to run into perhaps some of those user issues in terms of the number of people buying into the headsets.

JULIE HYMAN: Yeah.

[BUZZER]

BRAD SMITH: However, it's flashy. I will say that.

JULIE HYMAN: Yes, it is. The buzz, is our buzz not working? OK.

BRAD SMITH: Buzz.

JULIE HYMAN: The clock ran out.

BRAD SMITH: All right, Naomi Osaka next up here. Naomi Osaka steps up to sports media. The tennis superstar is set to launch a production company called Hana Kuma. It's dedicated to scripted and non-fiction content, including a "New York Times" documentary. And we should note that this is in partnership with SpringHill Entertainment, Maverick Carter and LeBron James, of course, entertainment company there.

And when you have these type of powerhouses coming together-- we're seeing this increasingly across sports media, we should add as well. The Players Tribune kind of really kicked off this wave of athletes who wanted to be able to tell their own stories, and then even further, going into some of their own production companies, transcending sports, and then, additionally, the entertainment world as well.

JULIE HYMAN: Yeah, it's really interesting, the phenomenon that we're seeing where public-facing figures in any one category have been getting into other categories, it feels like increasingly, right? Whether you have actors getting into the more business world, whether you have sports figures getting into media, as well as business, too. So there's just a lot of cross-pollination and sort of-- I don't know-- reflection that they're more well-rounded figures--

[BUZZ]

--I suppose. All right, now the buzzer.

BRAD SMITH: There the buzzer is, OK.

JULIE HYMAN: Speaking of sports figures, Michael Rubin is selling his 10% stake in Harris Blitzer Sports Entertainment. That's the parent company of the Philadelphia 76ers and New Jersey Devils. He told Fox Sports this in an interview this week. And it looks like he's doing this to pave the way for Fanatics sports betting operations.

Now when we talked to him earlier this year, I believe-- remember it was late last year, he talked about being interested in getting into it. But he didn't feel like Fanatics needed to be a first mover there, right? Which was an interesting comment. But obviously, this gets him closer-- signals intent, if nothing else.

BRAD SMITH: He wrote me a letter, saying, Dear Sixers fans, my life has been anything but predictable. There have always been two constants-- the Philadelphia 76ers and his love of building businesses. He's done that so well with Fanatics. The amount of licenses that they've been able to take on for the sports merchandising across leagues, and then even more so, entering into some of the memorabilia categories as well. I think that's really opened up a grand opportunity for a lot of fans out there to have another venue to go to. And so really hearing from the fans and incorporating this into an experience that for their merchandise purchasing--

[BUZZ]

--is more equitable for them over the long-term, too.

JULIE HYMAN: Something tells me he's not going to have any trouble getting tickets still.

BRAD SMITH: Oh, not a problem.

JULIE HYMAN: OK.