• Meta’s losses from its Reality Labs project total nearly $20 billion since last year, with no end in sight.
• Many investors were surprised to learn that Meta plans to spend even more in the metaverse in 2023.
• Put into perspective, the losses have grown to more than the combined market caps of the top 4 US airlines.

Meta’s losses from their metaverse project keep piling up.

The tech giant reported $10 billion in project losses last year and now more than $9 billion as of the third quarter of 2022. The company said it plans to increase spending further next year.

Meta has said that he is spending this…