- Meta has lost nearly $20B since last year from its Reality Labs Project, and there is no sign of a slowing down.
- Many investors were surprised when Meta announced that it plans to spend even more money on the metaverse in 2023.
- This is a stark comparison: the losses are greater than the combined market cap of four major US airline companies.
Meta continues to lose money from its metaverse project.
The tech giant suffered losses of $10 billion last year, and more than $9 billion in the third quarter 2022. The company stated that it will continue to invest in the project. Increase spendingYou can expect even more next year.
Meta claimed that it spends this large amount of money on research and development as well as employee-related costs. However, the details of It’s not clear where this money has gone..
After some people found Mark Zuckerberg’s latest update concerning the company’s progress disappointing, Meta’s pile losses came under intense scrutiny. One analyst said that the company’s financial condition was “very poor”. Push into the metaverse “desperate”
When you put it in perspective, the hefty price tag Mark Zuckerberg’s metaverse projects seems even more significant.
There are many other incredible items that cost less than the losses Meta has reported on its Reality Labs Project since last year.
