Facebook also has nothing better to spend the cash on – $60bn cash reserves in 2020 and revs are $120bn/yr growing at 30% y/y, what do you even do with that?
I think there's an obvious answer to that question: don't focus so much on profit and ensure that the net benefit of your product for humanity is greater than it currently is.
Nah that's too obvious. MUST. MAKE. PROFIT. FOR. SHAREHOLDERS. The machine must march on and grow at all costs.
Unfortunately if we bring up 'ethics' we're the laughing stock of the room "aww he's so cute thinking about the good of humanity, what a nice guy. Anyway, as the adults were saying..."
What is the income though? How much of that $120bn/yr is left?
$40bn which is still an awful lot. I can see punting on a VR metaverse could make sense if the spend is only 25% of their profits.