Meta Platforms (NASDAQ: META) reported losses of about $10 billion in its Reality Labs division, which is building out the company's vision of the "metaverse," in 2021. And it has already lost more than $10.2 billion on Reality Labs through the first nine months of 2022, with the potential for more than $24 billion in accumulated losses by the time 2022 is fully accounted for. Founder and CEO Mark Zuckerberg said the expense is worth it as it's helping the company create the next computing paradigm and giving it an opportunity to define the future of technology. 

But investors aren't convinced. Meta's stock price is down 60% in the past year, and some are saying the company has lost its way. Let's look at why Meta's bet on the metaverse was misguided and why the best move for investors may be for Meta to spin out the business or end Reality Labs altogether. 

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Source Fool.com