We're off topic, but Meta is an enigma to me. They are trying to build a VR platform to replace their cell phone based game platform known as Facebook, and yet they seem not to be obtaining as much interest as Roblox. Somehow, billions of dollars invested in Occulus EIGHT YEARS AGO(!) have yet to yield a single hit. Kids are still playing Playstation, which doesn't give them headaches.
I've not used Occulus, but this is not the usual trajectory for a breakthrough product. The Nintendo Wii was an immediate hit, as was the iPhone, as was the original and Super Nintendo long before that. What about this product is so deficient that it is failing to capture the imagination like Grand Theft Auto or even Minecraft? Also there's the ~25 year history of VR being the next big thing, and that day never seems to come. Flat screens remain more addictive.
Investors who have bid Meta down to a PE ratio below 9 seem to have lost faith in VR and Zuck's obsession. That said, I think Meta has deep enough pockets to eventually design a good product if anyone will ever buy it.
