Comment Meta Platforms, Inc., which changed its name from Facebook two years ago to signal its commitment to the so-called metaverse, continues to insist that the much-vaunted digital environment has economic potential. Of course, he has yet to realize that potential, or anything like it. The social advertising industry spent $13.72 billion on technology in 2022 to generate $2.16 billion in sales. And last month it revealed it had spent an additional $3.99 billion in the first quarter of 2023 to build its virtualized madness, to see $339 million in revenue. He predicts the cash conflagration will shine through the year: “We continue to expect Reality Labs’ operating losses to…