Mark Zuckerberg tries to restore trust as #metaverse losses cap $40B

Let’s get business out of the way before getting to the fun part: Meta, the parent company of #WhatsApp, #Facebook and Instagram, is heavily involved in virtual worlds through its metaverse unit, Reality Labs. 

However, its investments have yet to pay off, with the metaverse company reporting collective losses of over $40 billion. 

Despite the losses, investors are optimistic about Meta CEO Mark Zuckerberg’s long-term bet on the metaverse, sending the stock up 7% after hearing Zuckerberg’s reasoning on the #Meta Q2 2023 Earnings call.