Meta spent $36 billion on the Metaverse. the iPhone and Xbox cost much much less.

• Meta has invested $36 billion in the metaverse, but plans to spend many billions more on the project.
• Cautious investors are calling for Meta to focus its efforts on its profitable divisions.
• Insider compiled a list of technological advances that cost much less than the metaverse.

The metaverse may be the most expensive project in the history of technology.

Meta, according to an Insider analysis of the company’s financial filings, has pumped $36 billion into its Reality Labs division since 2019.

Reality Labs houses the social media giant’s metaverse and virtual reality arms, and remains hugely unprofitable, posting a $3.7 billion operating loss…