Meta bought Oculus VR technology in 2014. The attempt to make Meta Quest a mainstream hit cost $8.3 billion this year alone. Despite the lack of enthusiasm from gamers, Mark Zuckerberg does not plan to give up. Since the end of 2020, Oculus VR rebranded as Reality Labs, has accumulated losses of around $50 billion. These are not final amounts; the latest results are even worse than in the first quarter 2024.
Despite the obvious lack of success, Meta is neither giving up nor even slowing down. Efforts in this technology unrelated to gaming have become the subject of jokes, such as Mark Zuckerberg’s infamous VR selfie. The entire Metaverse concept is currently rarely mentioned, although there is no indication that Meta plans to abandon it.
I am very interested in VR. I am utterly uninterested in the “Metaverse”. When I had to make the economical choice between Meta Quest or HP Reverb G2, I chose the Reverb G2.
Any company that tries to co-opt a concept and then make like they invented the damned thing in their quest to corner the market is one of which I will steer well clear.