Building the metaverse isn’t cheap. Meta, Facebook’s parent company, revealed, for the first time, the financials of its Reality Labs division in its fourth-quarter 2021 earnings report Wednesday. That’s the segment of the company tasked with building CEO Mark Zuckerberg’s vision for the metaverse. It also includes revenue from hardware, such as the company’s Meta Quest virtual reality headset. So, how’s Zuckerberg’s big pivot to the metaverse performing so far? As expected, Reality Labs reported massive, growing losses — more than $10 billion in 2021 alone. The losses for 2021 are in line with what Zuckerberg said last year he expected to invest in Reality Labs. And the losses will likely only get bigger this year.
Full story : Mark Zuckerberg’s ‘metaverse’ business lost more than $10 billion last year, and the losses keep growing.
