Zuckerberg’s Edsel: Meta FAIL, Loses $2.8 Billion

Massive failure.

Meta Takes 2.8 Billion Dollar Loss On Its Metaverse Bet

By: Rosemarie Miller, Forbes Staff, July 29, 2022:

Meta reports a $2.8 billion loss in its Facebook Reality Labs while facing a FTC lawsuit. The Reality Labs Division contains augmented and virtual reality operations known as the metaverse……

Meanwhile, the U.S. has slipped into a recession, based on the gross domestic product data released today. GDP contracted 0.9% in the second quarter, following a 1.6% decline in the first three months of the year. That makes two consecutive negative quarters, a working definition of recessionRead more…

 

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