Mark Zuckerberg’s Meta, the company formerly known as Facebook, continues to invest heavily in his Metaverse vision, even as its Reality Labs division reports significant financial losses, including an astounding $3.8 billion loss in the first quarter of 2024.
Quartz reports that in 2021, when Mark Zuckerberg rebranded Facebook as Meta, he made bold promises about the potential of the Metaverse, a virtual reality where people could interact, work, and socialize in ways that transcend physical boundaries. However, nearly three years later, the company’s Metaverse has yet to materialize, leading many to question the viability of Zuckerberg’s ambitious project.
Mark Zuckerberg in VR gear Photographer: David Paul Morris/Bloomberg via Getty Images
Meta’s Reality Labs division, responsible for the company’s virtual reality business and
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