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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[–] nickwitha_k@lemmy.sdf.org 1 points 21 hours ago

Yeah. I'm not mad that he's throwing cash at it, outside of the immense amount of good that that amount of money could do for people, instead of being hoarded and wasted on impatience.

They're a good ways past the ROI plateau and need to get the displays into the wild before people can figure out how how to make them better (not to mention the literal lab research that's still needed to figure out how to make the tech competitive in functionality with birdbath which is multiple orders of magnitude cheaper and superior in nearly every way).