That's a big number.
For the past year and a half, Meta has lost a total of over $30 billion trying to find a way to bring virtual reality and augmented reality to your home.
That total comes from the last set of operating losses for Reality Labs, Meta's division for researching AR and VR. It lost a total of $10 billion in 2021 and $13.7 billion in 2022. Add in the $4.3 billion it lost in the previous quarter and the $3.99 billion it just lost this year and you get that very, very big number.) might've stemmed the bleeding.
Despite the tech world's waning interest in"the metaverse," especially as AI continues to flood the public consciousness, Meta continues to hold on tight to Reality Labs. Last year, it increased the price of its, citing increased production costs and a desire to invest in"groundbreaking research and new product development that pushes the VR industry to new heights.
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