Source: Aftermath
Meta has spent $80+ billion on VR/AR without articulating why mainstream consumers should care. The company pivots between social platforms, productivity tools, and gaming without landing on a winning use case. Zuckerberg has not defined the actual problem his glasses solve—only the technology itself. This reveals a deeper issue: massive capital deployment chasing a format rather than consumer demand. Even trillion-dollar companies can waste extraordinary resources on format bets divorced from actual need. Competitors like Apple and Microsoft are building for specific, concrete applications instead. That distinction matters.