VR's problem isn't friction, it's a lack of meaning: Lessons from $70B in losses

Key Points:

• Meta lost $73B proving that infrastructure without purpose creates ghost towns.

• Hardware friction is a myth: History shows users tolerate massive friction (early smartphones) if the value is clear.

• Beat Saber & VRChat succeeded not because of tech, but because they solved for "embodied meaning" rather than simulation.

• It's time to stop porting 2D concepts to 3D and start building for presence.

Meta's Reality Labs includes AI spend, so that's not 70B on VR

VR's problem isn't friction, it's a lack of meaning: Lessons from $70B in losses (linernotesxr.substack.com)