Since the beginning of last year, Meta has spent more than $15 billion on its Reality Labs metaverse, but it hasn’t said what the money was used for.
A report from BusinessInsider says that some experts don’t like the way that Metas does things. Dan Ives, a tech analyst at Wedbush, says that it’s not because they spend the money, but the lack of transparency with the investment bank is a disaster. For the time being, Zuckerberg and his team are taking a risk. They have been betting on the future and are still having trouble with their main business, he said.
When Meta started talking about Reality Labs’ finances last year, the company said it had put more than $10 billion into the business. The company has lost more than $5 billion in the first half of 2022, and some analysts think that this year’s total losses will be more significant than last year’s.
The content is measured by the person in charge of the metadata viewership controller.
Analyst Dan Ives said that the amount of money that Meta has spent on its metaverse so far is worrisome. He also said that the updates for the new $750 Meta Quest Pro are not good enough.
Since 2022, Meta Reality Labs has spent $15 billion
Mark Zgutowicz, an analyst at Benchmark, said that he isn’t sure, but he thinks that at least 60% of Reality Labs’ losses are caused by the huge costs of research and development that come with making a whole new world. He said that the real rumor was that we couldn’t wear glasses that made us look like aliens or anything else if we had scalability.
Zgutowicz said that Meta has good reasons for trying to build everything on her own. She said it’s hard for them to switch to other software companies because they are too busy stopping the company from making many of their own products.
We could do better with the amount of time and work we get. But BusinessInsider says that Meta isn’t the only company that hasn’t listed all of its losses. It’s common for American companies to take this approach, BusinessInsider says.
BusinessInsider also has a different point of view. Ivan Feinseth, a tech analyst with Tigress Financial Partners who has worked in the field for a long time, said that he believes in Mark Zuckerberg’s long-term vision and the promises he has made about the metaverse. When Facebook first bought Instagram, people thought he was crazy and laughed at him. People said, “This guy is going to waste all his money.” Instagram turned out to be one of the best reasons to doubt something.
READ MORE ARTICLES:
- NOKIA X30 5G GETS A 519 EURO FROM EUROPE
- Apple iPhone 14 Pro Models Could Give Company A Profit Boost
- iPhone 14 Pro Features Live Sports Scores in Dynamic Island on iOS 16.1
- iPhone 14 Pro Always-on display battery drain tested
- The iPhone 15 Ultra could steal a feature Android users saw in the Pixel 3