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.
I think the reason Zuckerberg is so adamant on building the metaverse as soon as possible is because most likely he wants to monopolize not only the software but the hardware aspect as well, right now everyone can use his platforms on any smartphone as those devices are widely available all over the world, but if he can create a metaverse ahead of everyone while VR devices are not as popular he could create his own VR equipment monopolizing that market as well, we will have to see if I am right but at least that is what I believe he is thinking.