The harsh reality of economics and demand is hitting them. For years, Musk's ideas were funded by an overvalued Tesla stock and stupendous amounts of investor money, and currently it's being double down on with the amount of money being poured into AI and its necessary hardware.

But the demand / economic viability just isn't there. VR is cool but it's not mainstream. "Metaverse" exists and some companies are making good money off of it (Roblox, Fortnite, MMOs, etc), but nobody wanted Facebook's multi-billion-dollar-invested version of it because they just don't get it. I really hope all this nonsense collapses sooner rather than later and we go back to realistic and viable spending.

Large investments don't translate to results.