Meta’s Metaverse: Billions in Losses and Rising Costs 💸

Zuckerberg's Metaverse Is, Costing Meta Billions.
Zuckerberg's Metaverse Is, Costing Meta Billions.
Meta reported a $3.74 billion operating loss on its Reality Labs division, which oversees CEO Mark Zuckerberg's metaverse, according to The Byte.
Meta reported a $3.74 billion operating loss on its Reality Labs division, which oversees CEO Mark Zuckerberg's metaverse, according to The Byte.
In October, Reality Labs was hit
with job cuts, slashing the
division's 600-person team. .
Despite some technological steps forward, the costly
virtual reality project still appears to be a long way from
becoming profitable for Facebook's parent company.
Despite some technological steps forward, the costly
virtual reality project still appears to be a long way from
becoming profitable for Facebook's parent company.
In 2022, Meta's Quest Pro VR
headset went on sale
for a hefty $1,500.
In September of 2023, a Roblox conference
reportedly handed out the high-price
headsets to attendees for free. .
The Byte reports that a recent survey by
Piper Sandler found that teens in the U.S. lack
interest in current virtual reality technology.
Only 29% of the 5,600 teens who took part
in the survey owned a VR device, with
4% of them saying they used it daily.
Just 7% of teens polled said they had
plans to buy a VR headset in the future.
Meanwhile, 52% of teens polled
said that they were either unsure
or disinterested in the technology.
The Byte reports that VR has failed to find an audience
among young people, a demographic which has
traditionally driven the technology market.