JUST IN: Mark Zuckerberg’s massive bet on the metaverse resulted in an operating loss of nearly $88 billion for Meta, while actual adoption fell far short of initial promises.

This episode reveals how a corporate narrative bolstered by consulting firms, banks, and the speculative fervor of 2021 ultimately collided with an unconvincing product, scarce user numbers, and a subsequent, rapid pivot toward artificial intelligence.
Reality Labs accumulated nearly $88 billion in operating losses between 2019 and 2025.