Zuckerberg unfazed about $2.8B metaverse division loss in Q2

Zuckerberg unfazed about $2.8B metaverse division loss in Q2

Meta’s virtual reality (VR) and metaverse division Reality Labs has posted its seventh straight quarter of losses, but CEO Mark Zuckerberg remains steadfast in investing in the technology, which he calls a “massive opportunity.

During Meta’s Q2 earnings call on July 27, Zuckerberg acknowledged that such losses could continue for several more years until VR applications and its Metaverse platform are mature enough to tap into the “massive opportunity” worth “hundreds of billions of dollars”

“The Metaverse is a massive opportunity for a number of reasons. I feel even more strongly now that developing these platforms will unlock hundreds of billions of dollars, if not, trillions over time.”

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“This is obviously a very expensive undertaking over the next several years,” Zuckerberg added, “I’m confident that we’re going

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