I've been hearing some defence of Meta's outrageous R&D spend, claiming that this spend is required in order to progress hardware innovation and we should ignore the memes surrounding legs on avatars, as this is the software layer and is not where the money is going. Whilst I do not disagree that R&D on VR headsets is required for further adoption, I just want to put the scale into perspective:
Apple's total R&D spend in the 7 years preceding the iPhone: $3.36bn
Meta's R&D spend in Q3 2022 alone: $9.1bn
Source: https://statstic.com/annual-research-and-development-expenses-of-apple-inc/
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