#3
Meta's Metaverse
$46 billion spent. Legless avatars. Employees wouldn't use it.
Meta's Metaverse is the most expensive flop on this list, costing $46 billion and delivering a virtual world with 2005-era graphics and no-legged avatars. Mark Zuckerberg renamed his entire company for this vision, but Horizon Worlds barely attracted employees. The Meta Quest Pro launched at $1,500 and was quietly discontinued. Compared to Theranos, this was a well-intentioned blunder, not fraud, yet the stock fell 65% before Zuckerberg pivoted to AI. Internal data revealed only 200,000 monthly active users.
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