In the strategy book I’m writing I have coined a new theory — The TGV business theory.
That is, once a company starts doing one thing best it cannot do other things (ie. META doing VR / AR platforms).
The $10 bn invested by the company in the “metaverse” are more or less gone, with mediocre results. It would have been easier to return the money to the shareholders (through dividends) and those shareholders to invest in VR/AR start-ups.
The operating mode in a start-up is total different compared to an established company.
Finally, META is already dead and they know it, but is still a cash cow.
Source: ? snapshot, Koyfin