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…

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FTC reportedly investigating Meta virtual reality division

Virtual Reality - Federal Trade Commission Building

Reports show the Federal Trade Commission and several US states are looking into the VR division. The Federal Trade Commission and a number of US states are investigating the virtual reality division at Meta, according to a recent Bloomberg report. The specific number of states were not identified in the report, but they are being led by New York. New York is leading the undisclosed number of states across the country that are questioning the Meta virtual reality Oculus app developers. The investigation has been ongoing across the last few…

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