Meta's augmented-reality unit has burned more than $60 billion since ⁠2020.

Metaverse Strategy - Meta is considering cuts to its metaverse efforts, potentially as much as 30% [1] - The market and consumers have not necessarily believed in Meta's metaverse efforts [2] - VR headsets purchased for metaverse experiences often end up unused after a few weeks [2] Market Reaction - Meta shares are spiking this morning following the report of potential cuts to metaverse efforts [1]