Didn't Meta invest big into the Metaverse, then back track on that, was it $20 billion.

I'd like for these investments to pay off, they're bold but it highlights how deep the pockets are to be able to invest so much.

They didn't just invest they made it core to their identity with the name change and it just fell so so flat because the claims were nonsense hype for crypto pumps. We already had stuff like VR Chat (still going pretty strong) it just wasn't corporate and sanitized for sale and mass monetization.

They're still on it though. The new headset prototypes with high FOV sound amazing, and they are iterating on many designs.

They're already doing something like ~$500M/year in Meta Quest app sales. Granted not huge yet after their 30% cut, but sales should keep increasing as the headsets get better.

They did indeed - see their current name

I havent seen any evidence that meta is backtracking on VR. Theyve got more than enough money to focus on both, in fact they probably need to. Gen AI is a critical complement of the metaverse. Without gen ai metaverse content is too time consuming to make.

They spent billions on GPUs and were well positioned to enter the LLM wars

> was it $20 billion

more like 40, yes

When did they backtrack?