Meta (Facebook) is in love with spending outrageous amounts and getting in debt for the Metaverse

The company, although very wealthy, wants to win anything on the Metaverse and hence does not hesitate to buy into debt for a large sum. Since the financial results were more disappointing than anticipated, Meta decided to buy a loan to continue its work on the Metaverse. In fact, the parent [] is the major.

The company, even though very wealthy, wants to bet on the Metaverse; therefore, it hasn’t hesitated to get into debt for a little money.

After the fact the financial results were more disappointing than expected, Meta decided to take out a loan to maintain its project for the Metaverse. In fact, the parent company that owns the giants Facebook, Instagram and even WhatsApp was having a very difficult year, with the result of a losing revenue of 1% in the second quarter of 2022. Revenue is actually down 36% year by year. It must be said that year 2021 was extremely special with Covid and therefore the social network had very good numbers (not just those of the other ones).

I would think Zuckerberg was all right. We would think that it costs all of money, especially in gear and research. This sector alone costed ten million dollars by Meta. A gigantic sum the company eventually preferred to borrow. It is worth a thousand dollars because it’s clearly the first debt in the company’s history. It’s a sum of three thousand dollars. According to Reuters, the information about a interview with Mark Zuckerberg was confirmed.

Financial analyst Daniel Ives told Reuters that Meta should have borrowed that amount a few times ago. Nonetheless, according to him, this decision is good because it allows us to continue investing in the famous Metaverse permanently and in a aggressive manner.

What do you think of Facebooks projects in the Metaverse? Do you think it will have a positive impact long-term?