Meta Platforms (NASDAQ: META) is going to keep spending billions of dollars developing its virtual and augmented reality products, and some people are not happy about this.

The company's Reality Labs segment, which is dedicated to advancing the metaverse, will account for about 20% of the tech giant's total expenses next year, according to CTO Andrew Bosworth. That's up from about 18% in the third quarter. The news follows a scathing blog post from former Oculus CTO John Carmack following his resignation criticizing the division as extremely inefficient.

Meanwhile, Meta's core advertising business is struggling following several changes in the industry. Without the cash cow of digital advertising continuing to grow, should Meta cut back on its spending on Reality Labs?

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Source Fool.com