Mark Zuckerberg’s $50 Billion Blunder
Mark Zuckerberg has spent nearly a decade and $50 billion building virtual reality and metaverse technologies. But the revenue Meta Platforms (NASDAQ: META) generates from Reality Labs is dwarfed by the company’s losses.
In this video, Travis Hoium shows just how staggering the losses are and why it may be time to move on from the metaverse.
*Stock prices used were end-of-day prices of Nov. 28, 2023. The video was published on Nov. 29, 2023.
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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Travis Hoium has positions in Apple and Snap. The Motley Fool has positions in and recommends Apple, Meta Platforms, and Roblox. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.