He did the same thing with VR/Oculus/Reality Labs. Huge budget but it doesn't justify itself in terms of outcomes. Strange. Is it something in the way he/Meta manages the projects?

I think Meta has a problem that very few of its internal projects widely succeed. Facebook and Messenger being the only two. The rest of the successes were acquisitions.

Would be interesting to see what they can actually show for that investment. Some VR goggles and Raybans.

Im presuming This does not include R&D which should actually be classified as a capital expenditure not operating.

You can add past titans Xerox and Kodak and IBM to the list who spent money every which way and in the end walked away from most of it. The ad money-making machine is slowly coming to an end, particularly the part where they get to be dominant over large portions of the Internet, the EU, China, the USA, and other countries are finally waking up to the scourge of social media and are starting to slice it up.

And it is the reason why he (Zuckerberg) looking for anything outside of social media.

Why do your think Meta doesn’t make money? Their ad platforms are incredibly lucrative.

the company makes insane amounts of money. what are you talking about?