In news you can file under 'painfully predictable,' Meta spent another quarter burning through the GDP of a small nation in a bid to birth the metaverse.
What the hell are they even spending all this money on when they don't have much to show for it?
Could it be that people don’t want to pay money to strap advertising machines on their faces? Has the robotic Augustus Caesar LARPer lost touch with the common people?
I want VR from someone better too. But still gonna use the Quest 3 for now. It's pretty awesome. I don't know how long I would have to wait for something worth using to come from someone else. But it's longer than I would want to. Been in VR for 10 years now, and it's still awesome.
They might, if they actually introduced anything new, the meta vr UX outside of introducing hand gesture recognition has been the same since quest 1, while apple actually innovated in the medium. Meta bought all of these companies and is doing nothing with them, then they're wondering why it's not increasing in output. Half life alyx is still the last great vr experience that doesn't feel like just a tech demo, and it's been yearssss
Just how? What are they all doing there?
According to the wiki Reality Labs have 17,000 employees. They didn't create anything that a company of 1,000 couldn't.
Nonsense, management has setup meetings throughout the day so that the people that are actually working only get about an hour's worth of actual work done
Yeah, something doesn't add up. Even if all 17000 employees were paid $400k/year (I'd be shocked if this were the case) that would be ~1/3 this amount. I smell BS.
For context, Meta reported 40 billion in revenue during that period, with 24Bn in expenses and made 13bn for the period. All those numbers are up from the same period last year.
i mean, the main concern for most shareholders is the stock price, and meta stock price in the last 6 months has gone up 20% and 47% on the last year, im pretty sure most of them are happy as long as the bubble keeps going up
Well, about half of that is probably salary. There are apparently 17,000 Reality Labs employees. If you assume the average salary is 100K or more, which is reasonable for tech jobs in high COL areas, you're already looking at a couple billion after benefits that the company has to spend on headcount. The other spend is probably third-party contracts, hardware, etc.
Total compensation (salary + stock) for software developers at big tech companies in the USA starts around $200k and goes up from there. With 5+ years experience, it's not uncommon to have $500k+ total comp. You can check https://levels.fyi/ for data. E3 is the starting level at Meta, and 5 years experience would be around E5 or E6.
Plus you need to include all the other benefits like 401k (retirement fund), health insurance, etc.
I don't know if that headcount I listed includes contract employees. They typically get compensated far less, and anecdotally I've been told by a former Meta friend that there are more contracted developers than salaried there. And what's the ratio of software developers compared to other personnel? HR, QA, marketing, sales, etc? Employees in other countries? I figured a more conservative estimate was reasonable for cost overall.
the headline says that Meta lost 4.5 billion in the 2nd quarter. Also the article says they meta lost 3.9 billion in the first quarter. I think that is an a 8billion dollar loss in 6months.
Unless I’m mistaken on the accounting, You shouldnt count a full years salary when comparing it to a 3 month loss, because meta has only paid 3 months compensation during the 2nd quarter.
Using your numbers
( 17,000 x $100,000 )/4 is $425mill. In salary paid out in the quarter. Although software and hardware engineers at meta make way more than 100k/year.
Facebook spends billions on a fake walled garden "metaverse", and has nothing to show for it.
Meanwhile, Frooxius and his team developed Resonite (and its predecessor Neos), and both of them are far closer to being actual metaverse implementations, simply due to them being able to speak HTTP/Websocket/OSC to external user applications.