Meta's ambitious metaverse project, initiated by Mark Zuckerberg in 2021, has reportedly incurred losses totaling $45 billion by early 2025. Internal reports highlight escalating financial setbacks, with losses reaching $16 billion in 2023 and $3.8 billion in the first quarter of 2024. The initiative has been criticized for internal disarray, inexperienced leadership, and a lack of clear strategic direction. Despite these challenges, metaverse development continues to receive backing from Chinese government policies, and some industry experts maintain that the metaverse could still underpin the future of the internet.