Facebook’s virtual reality investments have lost almost $20B since 2020

Virtual reality - Facebook investment

Last quarter alone, Meta spent $2.96 billion to continue the company’s attempt to build the metaverse. Meta has been aggressively pursuing its virtual reality metaverse world, but this pursuit has come with a large price tag as the company has consistently lost money on the effort until now. The metaverse is meant to allow users to navigate a VR world in the form of their digital avatars. The Facebook parent company has released its first quarter 2022 financial results and has revealed that this year alone, the virtual reality investments…

Read More