New Delhi, June 14 -- SAN FRANCISCO - Reality Labs has lost $4.03 billion in a single quarter, and Meta's answer, buried in an internal memo that leaked to The Information last week, is a necklace.

The device, described in the memo written by Alex Himel, Meta's vice president of wearables, would listen throughout the day, capture conversations, generate summaries and reminders, and keep a searchable record of what a user has said and heard. No screen. No keyboard. Just a pendant worn around the neck, microphones running, AI waiting. Meta has not confirmed the project publicly, and Himel's timeline puts formal testing at least a year out - but the roadmap surrounding it makes clear the company is betting its hardware future on the premise...