Q4 2022 was Meta’s Reality Labs’ worst one yet, with a $4.3 billion loss; while Zuckerberg laid off 11,000 workers in November, he wants to invest more in the metaverse.
Meta, formerly Facebook, reported its first ever revenue decline in Q2, while profits tumbled by more than one-third as its big bet on a proprietary metaverse continues to bleed money.
Reality Labs, Meta’s metaverse and AR division, has been recording rising losses since 2019, burning as much as $10 billion in 2021—and the losses this year is expected to be higher.
