Metaverse Cost About $15 Billion to Build by Meta

Karl Telintelo

Concerns over how much money Meta has invested in its metaverse project are beginning to arise among experts. One technology analyst called the social network‘s lack of openness a “disaster” because the corporation hasn’t yet disclosed in the public arena exactly what money is being spent on.

Plummeting Down

The large number announcement may make you feel a bit uneasy, but Meta has invested more than $15 billion in its Reality Labs metaverse since the start of last year. When asked about Meta’s extravagant spending, Wedbush Securities tech analyst Dan Ives said: “The problem is that they spend the money, but the openness with investors has been a disaster.”

Ideal Plans

When Meta started revealing Reality Labs’ financial data last year, it became clear that the business had devoured more than $10 billion. Meta announced a loss for the first half of 2022 of more than $5 billion, but some analysts predict this year’s final loss figure would “eclipse” last year.

Business Insider also noted that itemizing losses is a common practice in Corporate America and that Meta is not the only business that doesn’t do so. But despite how suspect things appear, Ivan Feinseth of Tigress Financial Partners analyst reminded everyone that good ol’ Mark Zuckerberg almost never fails to hit the mark.

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