Source: www.theinformation.com
Does Meta Platforms’ $70 billion bet on the metaverse shaping up to be the biggest money pit in tech?
Maybe. There is little, if any, precedent for a company spending as much as the owner of Facebook to develop a new technology platform, an immersive world that Meta CEO Mark Zuckerberg envisions as “the next chapter” of the internet. And according to Zuckerberg himself, it could be another eight years or more – the “end of the decade” – before Meta starts to see a payoff. That begs the question of whether Meta will ever get enough of a return to justify the investment.
We decided to try to compare what Meta is spending on its new big bet with what other companies have invested in new platforms. It is striking that in the past, companies like Apple and Google developed…
Read More at www.theinformation.com