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. Then I realized, that itself is notable — for Meta, losses on this unit are quite literally average behavior. …