Meta has burned $15 billion trying to build the metaverse — and nobody's saying exactly where the money wentMeta has spent more than $15 billion on its Reality Labs metaverse venture since the beginning of last year, but so far, the company hasn't shared on what, precisely, money is being spent.
Some experts are getting worried the company is spending good money after bad.
"The problem is that they spend the money, but the transparency with investors has been a disaster," Dan Ives, a tech analyst at Wedbush Securities, said.
"This continues to be a risky bet by Zuckerberg and the team because, for now, they're betting money on the future while they continue to have massive headwinds on their core business," he added.
I always thought that Metaverse is a stupid idea, it can only succeed when VR is massively popular, which it is not right now. Zuck is trying to put a cart before the horse.
Its obvious that he made a gamble to jump into this technology so early. But this could be a massive gain as well. When other companies will be thinking about metaverse his company will already have tons of experience and staffed developed. So when the adoption will begin they will be ahead of everyone else in the field that time. Only time can tell he was right or wrong.