Meta is burning $10B/yr to build Metaverse. They are also loading up on massive debt. This is the part I don’t understand. Development is expensive but NOT this expensive! A back of the envelope calculation suggests that one can build an entire search engine infrastructure and product for the same price. Something like HoloLens from scratch would cost LESS than half of that price. A full competitive self driving E2E stack development will cost about half. Developing entire smartphone hardware and OS from scratch would cost about a third of that money. Moon worthy space rocket development will cost a tenth of this budget. One can do so much with $10B that it is absolutely mind blowing.