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.
Meta is pouring money into its metaverse efforts, spending $10 billion in 2021 on the project alone, up from $6.6 billion in 2020, and $4.5 billion in 2019. What’s more, Zuckerberg expects to continue plowing cash into the business over the next three to five years.
I quite applaud Zuck's belief in the future of metaverse technology, he targets that in the next 15 years his project will be successful and META becomes a leader in metaverse technology, even though it looks very ambitious but he is making bets and he says he is ready with all possibilities that happen in the future.