You have to think that Meta’s Reality Labs is a great place to work because you can spend billions of dollars every quarter and not have to sell much or produce much or do much of anything else other than to pander to the whims of a boy king.
Too cynical?
I didn’t want to do this write up but it was either me or some AI robot. I know the boss is thinking that every time I pull a face and roll my eyes when I get an assignment I don’t like. But, what am I supposed to say about this, really?
I mean, I could say that despite an impressive 28% increase in revenue from the previous year, reaching $353 million, Reality Labs fell short of market expectations, which were set at $371 million. However, sales of the Quest 3 headset surpassed expectations according to the Zuck.
On the profit and loss side, I could be professional and neutral and say, Reality Labs posted a loss of $4.49 billion in Q2, which is a slight improvement over the expected loss of $4.53 billion, though it’s a larger loss than the $3.74 billion from the same quarter last year. But, since Meta began segmenting financial reports, Reality Labs has accumulated nearly $50 billion in losses. Could this be just a power move by the Zuck, telling everyone, this is my world and I am allowing you to live in it?
The fact of the matter is that according to Meta’s official pronouncements on its recent second quarter financials, Reality Labs’ losses are expected to “increase significantly year-on-year” in 2024 due to ongoing product development and ecosystem expansion.
Maybe a better idea would be to buy up all the chimps in the world because you are pretty certain that Planet of the Apes is real and you are going to hedge your bets. What does the available supply of the world’s chimp population cost? Can’t be $50 billion.
And imagine how much fun you could have with that. And if your investors complain, you just launch your chimp army at them.
Maybe that’s plan B.
