Meta torches $19 billion on VR last year, predicts 2026 will be just as gloriously unprofitable – metaverse or bust

Meta, the parent company of Facebook, reported a significant financial loss of $19 billion in 2022 on its virtual reality (VR) endeavors. This substantial investment in VR technology was made despite a series of layoffs at the company's VR unit, indicating a major restructuring effort. The losses are attributed to Meta's aggressive push into the metaverse, a virtual world where users can interact with each other and digital objects. The company's VR division, Reality Labs, has been leading this effort, but the high costs and lack of significant revenue have raised concerns about the viability of this project. As the tech industry continues to evolve, Meta's significant investment in VR highlights the company's commitment to innovative technologies, but also underscores the challenges and risks associated with pioneering new markets. The financial losses are expected to continue into 2026, with no clear indication of a turnaround in the near future.