Mark Zuckerberg's metaverse project, Reality Labs, has been a significant financial drain. Operating losses for Reality Labs were $4.5 billion in 2019, $6.6 billion in 2020, and $10.2 billion in 2021. In the first three quarters of 2023, the losses amounted to $11.5 billion. Meta's mixed reality division specifically lost $3.7 billion in Q3 and generated only $210 million in revenue. Overall, Meta has lost nearly $50 billion on the metaverse, which is more than the worth of companies like Ford, Hershey, or Kraft Heinz.
Mark Zuckerberg’s $46.5B loss on the metaverse is so huge it would be a Fortune 100 company https://t.co/vUwLSLJVat
Mark Zuckerberg's Meta has lost nearly $50 billion on the metaverse - more than Ford, Hershey, or Kraft Heinz are worth https://t.co/9KqiwFHirB
Zuck's Money Pit: Metaverse Bet Bleeds Billions https://t.co/jMopfQX0N0
Zuckerberg's Metaverse Is Bleeding Billions of Dollars, Documents Reveal https://t.co/n4U9WG1RXy
Meta's mixed reality division lost $3.7 billion during Q3 and earned just $210 million in revenue. https://t.co/JVvRzjVGjg https://t.co/Fm8jERsdFI
Even with a record-setting quarter, Zuck's metaverse is still a money pit Reality Labs operating losses: 2019: $4.5 billion 2020: $6.6 billion 2021: $10.2 billion 2022: $13.7 billion 2023: $11.5 billion (Q1-Q3) https://t.co/byKgf6KDwC