Meta has burned $15 billion trying to build the metaverse


eta is sounding very desperate in its recent cash burning process for the metaverse project. Wall Street is also questioning the company's future. Meta 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. Let us see what has been happening so far: 

✅ Meta has sunk more than $15 billion into its metaverse project since the start of last year.

✅ The precise details of where that money has gone remain fuzzy. 

✅ Some experts expressed disappointment in updates Meta provided earlier this week and thought the technology would be farther along.

 "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. 

Source: Business Insider