Meta's reality labs investment is an unusually large capital allocation that requires better transparency and evidence of incremental progress to justify the spend to shareholders.

“I think that they have an incredible core business, Cuz he's got good business, good EBITDA margins, good revenue growth. What's different? They have an incredible core business, and they have decided, for whatever reason, to make an enormous bet. And that bet could be a very good bet. But the way t”