Virtual Reality

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Virtual Reality - Quest, PCVR, PSVR2, Pico, Mixed Reality, ect. Open discussion of all VR platforms, games, and apps.

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Meta's Reality Labs posts $4.53 billion loss in second quarter (www.nbcdfw.com)

submitted 2 days ago by MyOpinion@lemmy.today to c/virtualreality@lemmy.world

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Meta's Reality Labs, the unit tasked with building the futuristic metaverse, continues bleeding money.

The social media company reported its second-quarter earnings on Wednesday and revealed that Reality Labs logged an operating loss of $4.53 billion while recording $370 million in sales during the period. Analysts were projecting that unit to post a second-quarter operating loss of $4.99 billion while generating $381 million in sales.

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[–] dual_sport_dork@lemmy.world 4 points 9 hours ago

Facebook itself prints money, so Meta is perfectly content to just set that money on fire attempting to capture the entire VR market and push out everyone else by operating at an enormous loss indefinitely. This is why, 1000%, nobody should ever buy a Meta VR product no matter how cheap it is. Once they've destroyed all competition (assuming they even manage to succeed), anyone wanting to use VR for any purpose will be completely at Meta/Facebook's mercy. The end goal of this is obviously twofold, one is that Meta wants to have their spy machine that's festooned with cameras and microphones inside your home where they can record whatever audiovisual data they want and do anything they feel like with it, and two is that Zuck Zuck fervently wishes he were Hiro Protagonist rather than the sniveling dweeb he is in real life.

Just say no to Meta.