The metaverse adventure of both Mark Zuckerberg and Meta is not going as expected. The constantly falling interest of the users, the investments that did not create the expected vitality, the belief that the investors lost… All these combined, the loss was inevitable for Meta.Meta lost $26 billion
Reality Labs, the metaverse and VR division of Meta, has lost $26 billion or more in just over two years because of the metaverse. Meta’s latest Q4 results show us the big picture in how much the company is spending (and losing) in the metaverse. From the holiday season of 2020 to the end of 2022, Reality Labs has suffered billions of dollars in losses for multiple consecutive quarters, and statements from Zuckerberg show that this aggressive investment is not slowing down.
Meta CEO Mark Zuckerberg maintains his faith in the metaverse and seems very confident that the platform is the next step in socializing with the next generation of Meta Reality titles.Despite the losses, Zuckerberg approaches the event from a different point of view. According to the famous name, metaverse-based development is a cheap method, at least compared to hardware development. On the other hand, the company will cover the losses that will arise while continuing its investments from the restructuring moves in 2023, which it calls the “productivity year”. The company had parted ways with more than 11,000 employees at the very beginning of the process as it restructured its unproductive businesses.
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