Meta breaks out its AR/VR-focused Reality Labs unit, reporting 2021 revenue of $2.3B, up from $1.1B in 2020, and losses of $10.2B in 2021, up from $6.6B in 2020
Mark Zuckerberg is losing about 2x on the metaverse than Alphabet loses on Other Bets sci-fi projects like self-driving cars and health care technology. https://www.cnbc.com/...
Idk if this will pay off or not but that is an insane level of conviction Hard to imagine many other companies betting this big https://twitter.com/...
Meta earnings out: Company lost $10 billion investing in Reality Labs (oculus wing) over 2021. Even still, the company is massively profitable making nearly $40 billion in net income over the past year.
Again, the idea that all of this reporting on all of the damage and all the scandals and all the threats of regulation would hurt Facebook is preposterous. The company is more powerful than most people want to recognize. https://twitter.com/...