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A list of business and technological wonders built for a tiny fraction of the amount Facebook is spending on the metaverse

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metaverse avatar on the left has her knee up, mark zuckerberg's avatar on the right is jumping in the air
Mark Zuckerberg confirmed off his avatar’s legs by leaping in the Horizon Worlds metaverse.

  • Meta’s losses from its Reality Labs problem complete nearly $20 billion since remaining 12 months, with no signal of ending.
  • Many patrons had been shocked to check that Meta plans to spend way more on the metaverse in 2023.
  • Put into perspective, the losses have grown to better than the blended market caps of 4 essential US airline firms. 

Meta’s losses from its metaverse problem protect stacking up. 

The tech large reported $10 billion in losses from the problem remaining 12 months and now better than $9 billion as of the third quarter of 2022. The agency acknowledged it plans to ramp up spending even extra subsequent 12 months.

Meta has acknowledged it is spending this massive amount of money on evaluation, enchancment, and employee-related costs, nonetheless the precise particulars of where that money has gone are fuzzy.

Meta’s piling losses have come beneath intense scrutiny after some found CEO Mark Zuckerberg’s most modern exchange on the agency’s progress disappointing. One analyst often called the agency’s push into the metaverse “desperate.”

The hefty ticket on Mark Zuckerberg’s metaverse problem appears way more substantial when it is put into perspective. 

Here are totally different unbelievable points that worth decrease than the amount Meta has reported as losses on its Reality Labs problem since remaining 12 months. 

So far, Meta’s losses from Reality Labs have ballooned to better than the complete market caps of American Airlines, JetBlue, Spirit, and Frontier Airlines blended.

American Airlines 777-300ER landing.
American Airlines 777-300ER.

These airways have seen very important cuts to their market caps this 12 months, attributable to the market downturn. Still, the blended market caps for these 4 airways at the second complete $14.75 billion. 

 

It would worth a lot much less to buy every the Dallas Cowboys and the New England Patriots, which are the two Most worthy sports activities actions franchises in the whole world, consistent with Forbes.

New England Patriots

Forbes recently estimated the worth of the Cowboys to be $8 billion, and the Patriots to be $6.4 billion, totalling $14.4 billion. 

Or, so as for you further bang for your buck, it might worth decrease than $20 billion to buy the Brooklyn Nets ($3.2 billion), the Arizona Cardinals ($3.27 billion), the LA Clippers ($3.3 billion), and the Buffalo Bills ($3.4 billion). All 4 are moreover thought-about some of the world’s costliest sports activities actions teams, consistent with Forbes. 

Meta’s Reality Labs losses complete better than the GDP of many small worldwide places.

Prime Minister of Jamaica Andrew Holness
Prime Minister of Jamaica Andrew Holness

The World Bank’s most recent GDP estimates put Jamaica’s GDP at $13.6 billion, and Armenia’s at $13.8 billion. 

The widespread wage for a public college coach is $65,090 in the US, consistent with the Department of Education.

Black teacher
Shot of a coach aiding a struggling pupil with schoolwork in a classroom

$20 billion would possibly pay the salaries of 307,266 lecturers for one 12 months. Or one coach’s wage for 307,266 years! 

Source: National Center for Education Statistics

It would worth a lot much less to buy the 10 costliest objects of paintings ever purchased, which contains works by Da Vinci, Rembrandt, and Picasso.

Leonardo da Vinci's "Salvator Mundi." Painted in 1500
The costliest painting ever purchased

The 10 costliest works of paintings purchased solely come to a little better than $2.5 billion in complete.

The Mona Lisa was assessed at a value of $100 million in 1962, which may be $860 million in 2022. You would possibly buy 23 Mona Lisas with $20 billion. 

 

The White House is valued at nearly $400 million, consistent with real-estate listings company Zillow.

The White House is seen from Lafayette Park on July 10, 2022 in Washington, DC.
The White House is seen from Lafayette Park on July 10, 2022 in Washington, DC.

Meta’s losses for Reality Labs are 50x extra cash than that. 

Source: Insider

Funding Uber for its first 4 years of operation worth decrease than $20 billion.

Travis Kalanick, co-founder and former CEO of Uber
Travis Kalanick, co-founder and former CEO of Uber

In the first 4 years of Uber, the agency raised $13,519,400,000, according to Pitchbook. The agency at the second has a market cap of nearly $50 billion. 

The first ever laptop computer worth $400,000 to complete in 1945.

The Electronic Numerical Integrator and Computer (ENIAC)
ENIAC, the world’s first ever widespread objective laptop computer.

The Electronic Numerical Integrator and Computer, or ENIAC, was developed in Philadelphia and worth a paltry $6.088 million in the occasion you regulate for inflation. 

 

 

The current US inhabitants is 332,403,650.

Crowd in Times Square
Crowd of people in Times Square

Meta’s Reality Labs endeavor has so far misplaced the equal of $60 for every specific particular person in the US. 

Developing every the Hubble Space Telescope and the new James Webb Telescope worth the US authorities decrease than $20 billion.

First image released from the James Webb Space Telescope on July 11, 2022
First image launched from the James Webb Space Telescope on July 11, 2022

Hubble’s enchancment cost $1.5 billion by its launch in 1990. In proper now’s {{dollars}}, that may be about $3.4 billion. Webb, which launched its first photos in July, worth roughly $10 billion. Webb was initially estimated to worth between $1 billion to $3.5 billion nonetheless was delayed and went over budget.

Even so, the worth of the two telescopes blended may be decrease than Meta’s losses from Reality Labs. 

The world’s costliest burger is $5,000. You would possibly buy 4 million of them (excluding taxes).

The world's most expensive burger
The Fleurburger 5000

The burger features wagyu beef, seared foie gras, and black truffle shavings. It’s moreover served with a bottle of 1995 Chateau Petrus from Bordeaux. Enjoy! 

The navy costs for the whole American Revolutionary War had been decrease than $20 billion, adjusting for inflation.

Washington Crossing the Delaware
Washington Crossing the Delaware, Emanuel Leutze

A 2011 report from the Congressional Research Service on navy costs from essential US wars estimated that the American Revolution worth $2.407 billion, in 2011 {{dollars}}. Eleven years later, which may come to about $3.18 billion. 

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