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Meta Platforms opens first retail store in US Facebook owner Meta Platforms has opened its first physical retail store in Burlingame, California. It's located at the main campus of Reality Labs, the company's unit that produces hardware like virtual reality headsets or smart glasses. Meta has staked its future business on the idea of the metaverse, an immersive and shared virtual space, as growth fuelled by ad revenue slows. But first, we look at how global markets are faring amid fears of an economic slowdown.