Meta is still burning money on AR/VR

When Meta released its quarterly earnings report on Wednesday evening, a colleague pointed out how Meta lost $4 billion on Reality Labs, the division responsible for its AR glasses, VR headsets, and VR software.

I yawned at first. Meta losing $4 billion on Reality Labs just didn’t seem surprising. It’s a given. Reality Labs lost another $4 billion, and also, the sky is blue.