[recursive_]

The hyperbole is a little much. Meta is pouring a ton of money into the Metaverse and facing some headwinds with regulatory and Apple's ATT concerns but they aren't even close to hemorrhaging money. Last year (one of the worst years for tech in recent history) they still walked away with 40billion in net profit. The money printing continues at a slightly slower pace.

[deeviant]

That doesn't sound right.

"Facebook reported $23.1 billion net profit in 2022, a decline on the $39.3 billion made in 2021. Meta has invested heavily into the metaverse, which is cutting into its profits."

https://www.businessofapps.com/data/facebook-statistics/

[ensignavenger]

That means they are still making tons of money, just less than they did a year ago.

[mrtranscendence]

If profits keep going down at similar rates, we'll see how long "tons" lasts.

[Ancalagon]

I know I've already heard they were investing a lot of money, but _tens of billions of dollars_ in the metaverse? Holy fuck. Where is it all going?

[x0x0]

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