Meta has burned $15 billion trying to build the metaverse

[dothebeats]

I am not sympathetic with rich guys who are shareholders of Meta and that the company is doing something shady with the money without really providing many results. But I am happy that Metaverse thing isn't working out so far. Companies like this, tech giants, already know too much about us and have too much control. They shouldn't have more unless we're moving to a dystopian future. Instead of burning the money on trying to get even more private data to sell to companies to make people waste more money, though, these billions could've been spent on some charity, social, medical, educational initiative, so that is a shame.

Exactly. These guys are as nefarious as they can be, and they are doing a lot of things that most of us will not comprehend. They can create these projects and just weather the loss just because they have a lot of safety nets in place. Loads of futuristic tech projects have spawned over time, and only a few things have been really beneficial to the plight of us who can only imagine what it's like to have that amount of money.

[Silberman]

It seems to me Zuckerberg has this mentality that he could build something even grander after building Facebook. Facebook was indeed a huge success but it can't happen all the time, and nobody could simply build one huge success after another. To a certain extent, success as big as Facebook in the field of technology is unpredictable. It just happens.

This man is ambitious. It's not necessarily bad, of course, but it could cost you a lot and the risk is high. I remembered how amazing a vision Libra was. And he, in fact, already managed to bring the largest companies in the world together to create the Libra Association. But then, for some reasons, it didn't materialize. He, then, went on to attempt to create another grand stablecoin project that also didn't make it.

And now his grand metaverse vision has already cost him a lot but it remains less promising until now. It's becoming more and more likely that it would share the same fate with Libra and Diem. This doesn't look good for the publicly-listed company.

This is the mentality of a successful people. They won't just stop after they create a working product but they will always try their best to improve it more because they know that once they stop, other competitors can beat them. This is a great mentality imo but I think there are people who will hate him for this.

They will say that mark z is only wasting his money and effort for this and the metaverse project that he is trying to create is still not good enough. They can also link this to other failed projects that they built on the past like libra coin but who knows, this one might be a success? He is only showing that failure must not stop us for trying again.

I think we can recognize that something like the metaverse will be part of our lives someday, what we do not know is if that time is now, Zuckerberg is making a prediction and he believes now is the right time for the technology to be deployed, is he correct? No one knows for sure but he is willing to invest a fortune to make his vision a reality, however if he is wrong not only he will lose all of that money but he will give valuable information to whoever wants to do this for free and instead he will help someone else to make his vision to come true, so he is taking a huge risk no matter how we look at it.

[Crypto Legend]

The brave step from Facebook to make Meta can be valuable, but I prefer if Facebook users get Airdrops of course by doing things like Airdrops, I still remember the beginning of Paypal giving free $ 50 for Facebook users.

[Ucy]

Meta has burned $15 billion trying to build the metaverse — and nobody's saying exactly where the money went

Meta has spent more than $15 billion on its Reality Labs metaverse venture since the beginning of last year, but so far, the company hasn't shared on what, precisely, money is being spent.

Some experts are getting worried the company is spending good money after bad.

"The problem is that they spend the money, but the transparency with investors has been a disaster," Dan Ives, a tech analyst at Wedbush Securities, said.

"This continues to be a risky bet by Zuckerberg and the team because, for now, they're betting money on the future while they continue to have massive headwinds on their core business," he added.

I always thought that Metaverse is a stupid idea, it can only succeed when VR is massively popular, which it is not right now. Zuck is trying to put a cart before the horse.

My Issue with this is the amount Meta is said to be spending on the development of metaverse. Actually sounds like they're gambling or taking big risk. It's important to be certain before making that kind of bet otherwise start small to experiment and learn in the course of development

[AndySt]

I think we can recognize that something like the metaverse will be part of our lives someday, what we do not know is if that time is now, Zuckerberg is making a prediction and he believes now is the right time for the technology to be deployed, is he correct? No one knows for sure but he is willing to invest a fortune to make his vision a reality, however if he is wrong not only he will lose all of that money but he will give valuable information to whoever wants to do this for free and instead he will help someone else to make his vision to come true, so he is taking a huge risk no matter how we look at it.

Business in general is a risky thing and it is not for nothing that it is said that only the winner drinks champagne. Few people will remember the predecessors of losers who tried to bring the idea to life, but the winner gets fame and privileges and most importantly all the cream. There are many ideas that are floating in the air and seem to have to find their embodiment in physical reality, but so far this is constantly hindered by something. It may be recalled that Zuckerberg himself was not a pioneer in social networks, but he managed to ride the wave and, thanks to successful actions, succeed. But business does not like those who stand still and try to use old recipes in new changed conditions, and therefore it is commendable and quite understandable that the Meta corporation itself and Zuckerberg in particular are trying to find new horizons and a new point of growth, since financial resources allow such experiments. As for the topic of transparency of such investments, which investors are worried about, I would like to say the following. There are some secrets of the business kitchen that no one should be privy to, especially competitors, and if there is an opportunity to hide something, then any such organization will not fail to take advantage of it.

[ChiBitCTy]

Honestly the Meta-verse to me felt/feels very much like the whole NFT market craze. Completely over hyped and well ahead of itself. I look at both NFT art Meta-verse as something that I can’t believe so many people were buying in to especially with Meta as we really just don’t know where things are heading with. Like what is this nonsense we seem to be 100 years too easily for. I dunno, I never got it either.

[justdimin]

I think we can recognize that something like the metaverse will be part of our lives someday, what we do not know is if that time is now, Zuckerberg is making a prediction and he believes now is the right time for the technology to be deployed, is he correct? No one knows for sure but he is willing to invest a fortune to make his vision a reality, however if he is wrong not only he will lose all of that money but he will give valuable information to whoever wants to do this for free and instead he will help someone else to make his vision to come true, so he is taking a huge risk no matter how we look at it.

That is understandable, he is making a bet that if he spends insane amount of money into this metaverse technology, one day he will be at the forefront, basically be bitcoin of metaverse, and that will give them both a lot of money, but also what matters to them is users, which could give them millions, even maybe over a billion users once again.

However, reality is that metaverse is not that simple, even if he keeps on trying to do the best he could possibly do, he will probably fail and that is going to hurt them financially. This is not a simple task, this is something that is gigantic and needs to evolve with the technological improvements we have, and cannot be loved right away.

[jrrsparkles]

Quite surprised to see more comments are negative about the technology, but myself I beleive it is really possible but not going to happen in very short time like in 18 months, it will take atleast 5 years to roll out the beta and the development will go on for years. Why Mark started too early is to establish he wants to take the first seat so more profits than back seats but as far as the investors concern towards is understandable but they took the bet so have to accept the outcome as well.

[tygeade]

Honestly the Meta-verse to me felt/feels very much like the whole NFT market craze. Completely over hyped and well ahead of itself. I look at both NFT art Meta-verse as something that I can’t believe so many people were buying in to especially with Meta as we really just don’t know where things are heading with. Like what is this nonsense we seem to be 100 years too easily for. I dunno, I never got it either.

The difference is, all those "metaverse" things we have seen on crypto is just roblox type of idiotic stuff that people fell for and lost a quite good amount of money, and couldn't have been built any good at all, it was definitely a bad replica of what should have been, just to make some profit.

On the other hand, meta is not doing it for the money, in fact they have lost more money trying to build it so far than what all those projects are worth right now combined. Which means that they really want to do this for the technology of it, and not for the money they could make, or maybe money plays a role but not the first thing in their mind.

[bythesea]

Meta has burned $15 billion trying to build the metaverse — and nobody's saying exactly where the money went

Meta has spent more than $15 billion on its Reality Labs metaverse venture since the beginning of last year, but so far, the company hasn't shared on what, precisely, money is being spent.

Some experts are getting worried the company is spending good money after bad.

"The problem is that they spend the money, but the transparency with investors has been a disaster," Dan Ives, a tech analyst at Wedbush Securities, said.

"This continues to be a risky bet by Zuckerberg and the team because, for now, they're betting money on the future while they continue to have massive headwinds on their core business," he added.

I always thought that Metaverse is a stupid idea, it can only succeed when VR is massively popular, which it is not right now. Zuck is trying to put a cart before the horse.

It might be stupid idea but if you corner the market first then you have much better starting position. I like you anology but imagine that you have a cart that is so much ahead that getting horse later won't matter.
15 billion is a gamble but a gamble that might pay off 100x over.

[erep]

Mark wouldn't allow all gis efforts to be put into nothing so I believe that Meta still has a huge potential to boom in the future. It's just that we all have too high expectations of it but we should still give it a chance and time to develop. It couldn't reach our expectations for now because the market is still in a bullish situation it couldn't go through its full potential. Let's wait and see until its fully developed and built.

Meta development will take a long time and based on the news said for the next 10 years, they will develop new technology about metaverse by using VR to access the 3D simulation world. Despite the negative news about the clarity of metaverse development and the amount of funds used for the metaverse, many people may not know that Meta has released a new VR device called Oculus Quest Pro this year. We can assess the Meta development process as potentially completed in less than 10 years, so we must think positively to provide support to Meta to complete its work.

[Silberman]

I think we can recognize that something like the metaverse will be part of our lives someday, what we do not know is if that time is now, Zuckerberg is making a prediction and he believes now is the right time for the technology to be deployed, is he correct? No one knows for sure but he is willing to invest a fortune to make his vision a reality, however if he is wrong not only he will lose all of that money but he will give valuable information to whoever wants to do this for free and instead he will help someone else to make his vision to come true, so he is taking a huge risk no matter how we look at it.

That is understandable, he is making a bet that if he spends insane amount of money into this metaverse technology, one day he will be at the forefront, basically be bitcoin of metaverse, and that will give them both a lot of money, but also what matters to them is users, which could give them millions, even maybe over a billion users once again.

However, reality is that metaverse is not that simple, even if he keeps on trying to do the best he could possibly do, he will probably fail and that is going to hurt them financially. This is not a simple task, this is something that is gigantic and needs to evolve with the technological improvements we have, and cannot be loved right away.

I think he is rushing this too much and if his stock holders do not see any results then I would not be surprised if at some point in time he is replaced as the CEO of Meta and then his vision is abandoned, so not only he needs to make this a reality he needs to do it with resources that while they may seem to be huge for people like us from the point of view of developing something so groundbreaking the funds may not be anywhere near enough to what he actually needs.

[jrrsparkles]

Quite surprised to see more comments are negative about the technology, but myself I beleive it is really possible but not going to happen in very short time like in 18 months, it will take atleast 5 years to roll out the beta and the development will go on for years. Why Mark started too early is to establish he wants to take the first seat so more profits than back seats but as far as the investors concern towards is understandable but they took the bet so have to accept the outcome as well.

Mark wouldn't allow all gis efforts to be put into nothing so I believe that Meta still has a huge potential to boom in the future. It's just that we all have too high expectations of it but we should still give it a chance and time to develop. It couldn't reach our expectations for now because the market is still in a bullish situation it couldn't go through its full potential. Let's wait and see until its fully developed and built.

No matter what how great they are now and how much successful they are now but we can't deny failures are also part of this path even he said about this on one of his interviews. But personally I think the technology has potential and the market that is why he jumped into the development of the technology even he changed the name of parent company to meta to become one of its kind in the near future.

[iv4n]

Quite surprised to see more comments are negative about the technology, but myself I beleive it is really possible but not going to happen in very short time like in 18 months, it will take atleast 5 years to roll out the beta and the development will go on for years. Why Mark started too early is to establish he wants to take the first seat so more profits than back seats but as far as the investors concern towards is understandable but they took the bet so have to accept the outcome as well.

But he is burning billions without a product in sight! Metaverse as we can see it in some promo videos is still far away, and 18 months or 5 years is a pretty long time... he will probably burn even more billions until that point! I don't think that people are negative, it's just reality. For metaverse you will need VR, and how many people have and actively use it?! And do we really need it? How many people are really interested in the metaverse? Do we really need some other reality like the one we can see in some movies?

I guess the metaverse can be interesting, but let's keep it within some limits! We also need to stay humans who need some real touch!

[RealMalatesta]

Quite surprised to see more comments are negative about the technology, but myself I beleive it is really possible but not going to happen in very short time like in 18 months, it will take atleast 5 years to roll out the beta and the development will go on for years. Why Mark started too early is to establish he wants to take the first seat so more profits than back seats but as far as the investors concern towards is understandable but they took the bet so have to accept the outcome as well.

But he is burning billions without a product in sight! Metaverse as we can see it in some promo videos is still far away, and 18 months or 5 years is a pretty long time... he will probably burn even more billions until that point! I don't think that people are negative, it's just reality. For metaverse you will need VR, and how many people have and actively use it?! And do we really need it? How many people are really interested in the metaverse? Do we really need some other reality like the one we can see in some movies?

I guess the metaverse can be interesting, but let's keep it within some limits! We also need to stay humans who need some real touch!

I am guessing that it's not directly cash, most of the time when calculating these type of things they do count things that are not directly money, but worths money, such as man hours, which means if 100 people worked on it for 6 months then you calculate all the cost of those employees at the same time, and that could be calculated into it.

I doubt that it would be 15 billion already, that just doesn't make sense, what could they really spend that 15 billion on, think about it item by item, doesn't really sound like a true price. Maybe they are just showing it as a cost to pay less taxes I don't know. But in the end, if they can achieve it one day, it would be all worth it.

[sotoshihero]

Quite surprised to see more comments are negative about the technology, but myself I beleive it is really possible but not going to happen in very short time like in 18 months, it will take atleast 5 years to roll out the beta and the development will go on for years. Why Mark started too early is to establish he wants to take the first seat so more profits than back seats but as far as the investors concern towards is understandable but they took the bet so have to accept the outcome as well.

But he is burning billions without a product in sight! Metaverse as we can see it in some promo videos is still far away, and 18 months or 5 years is a pretty long time... he will probably burn even more billions until that point! I don't think that people are negative, it's just reality. For metaverse you will need VR, and how many people have and actively use it?! And do we really need it? How many people are really interested in the metaverse? Do we really need some other reality like the one we can see in some movies?

I guess the metaverse can be interesting, but let's keep it within some limits! We also need to stay humans who need some real touch!

I am guessing that it's not directly cash, most of the time when calculating these type of things they do count things that are not directly money, but worths money, such as man hours, which means if 100 people worked on it for 6 months then you calculate all the cost of those employees at the same time, and that could be calculated into it.

I doubt that it would be 15 billion already, that just doesn't make sense, what could they really spend that 15 billion on, think about it item by item, doesn't really sound like a true price. Maybe they are just showing it as a cost to pay less taxes I don't know. But in the end, if they can achieve it one day, it would be all worth it.

Of course not directly cash, but worth of it. I admired Mark Zuckerberg as he is the one driving force of the future, the technology he envisioned and trying to make it a reality. He is in esting here,it means it is doable and achievable, just a matter of time.

[Maidak]

Quite surprised to see more comments are negative about the technology, but myself I beleive it is really possible but not going to happen in very short time like in 18 months, it will take atleast 5 years to roll out the beta and the development will go on for years. Why Mark started too early is to establish he wants to take the first seat so more profits than back seats but as far as the investors concern towards is understandable but they took the bet so have to accept the outcome as well.

I guess people don't fully understand what a metaverse is, it seems like they are just looking at projects labeled as metaverse that are active in the crypto and they don't know that the metaverse has been in development for a long time and is heavily invested by tech companies. I also think the metaverse will be an important trend in the future as this technology becomes more and more popular and VR devices become cheaper, people will realize how useful it really is.

[Kadal Ijo]

Quite surprised to see more comments are negative about the technology, but myself I beleive it is really possible but not going to happen in very short time like in 18 months, it will take atleast 5 years to roll out the beta and the development will go on for years. Why Mark started too early is to establish he wants to take the first seat so more profits than back seats but as far as the investors concern towards is understandable but they took the bet so have to accept the outcome as well.

I guess people don't fully understand what a metaverse is, it seems like they are just looking at projects labeled as metaverse that are active in the crypto and they don't know that the metaverse has been in development for a long time and is heavily invested by tech companies. I also think the metaverse will be an important trend in the future as this technology becomes more and more popular and VR devices become cheaper, people will realize how useful it really is.

In my opion and what I read about the topic in the forum - - I think META is really trying to make  something big here and they are definitely trying to  preparing for something big. We might see them failed but I think they are serious about this Metaverse and they will not lose that much if this is not worth it.

With burning up to $ 15 billion, it will make news that continues to be viral and becomes a promotion that they are serious about the project, but whether this strategy can be successful, I'm sure it still needs time to prove Meta can be accepted by investors.

[Smartprofit]

The Metaverse at large isn't a failed project and those that has key into this are also working tiredlessly to bring out something unique from it but i must confess that it is not what is as simple as we all taught, i think we are only on the ideological stage and more resea needs to bebdone in other to bring this ideas into practical reality, which will obviously take time, money and efforts, the Facebook Meta are also trying on their own but it's not what we should expect to into live like this soon, but time will definitely bring to unfold what it has through Metaverse and those that set in first will make a lifetime history with it, let's keep the fingers crossed and see who comes in first.

The great science fiction writer Roger Zelazny wrote that at a certain stage of development, technology is already indistinguishable from magic.

Is Zuckerberg's Metaverse Like Magic?  In my opinion - no!  

Watching the series House of the Dragon is much more interesting than testing Zuckerberg's Metaverse....

However, most likely the Metaverse will be created.  However, will it be created in the current decade?  I'm not sure.  It is possible that fundamentally new devices will be required for the successful functioning of this project.  

For example, devices using holography technology, as well as neurochips.  Until such devices have become widespread, it will not be possible to create the Metaverse.