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Kia Kokalitcheva Apr 19, 2017
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Everything Facebook unveiled on Day 1 of its conference

Facebook kicked off its annual development conference Tuesday amid a fresh controversy over its Live video service, but CEO Mark Zuckerberg was solely focused on Fast and Furious jokes and augmented reality.

Main takeaway: Virtual reality may someday be the next big thing, but for the foreseeable future, using devices like smartphones to decorate, distort, animate, or annotate the world around us is Facebook's next frontier. And with Snapchat already calling dibs on the "camera company" slogan and whimsical lenses, augmented reality will also be the battleground from these two social media companies.