Tech giants love making grand promises about solving social issues, but when it comes to actually delivering? Not so much. Meta, formerly known as Facebook, has quietly let its $1 billion California housing initiative fizzle out like a forgotten startup, leaving Bay Area residents to continue wrestling with astronomical rent prices.

The Promise That Never Quite Landed

In 2019, Mark Zuckerberg rode in on his philanthropy high horse, pledging a cool billion dollars to construct 20,000 housing units for middle and lower-income households. Fast forward to 2025, and that promise looks about as substantial as Instagram filters.

Where Did the Money Go?

According to internal sources, the housing initiative has been reduced to basically nothing. Out of the $1 billion promised, only $193 million has been distributed, with $150 million going to low-cost housing loans and $225 million in land donations that haven’t seen a single construction crane.

Corporate Smoke and Mirrors

Meta claims it’s still committed to its housing goals, but their actions tell a different story. The program has dwindled from a dedicated team to essentially zero employees, with the company now suggesting outside consultants might magically solve the housing crisis.

The tech world’s favorite playbook remains unchanged: make a splashy announcement, generate good PR, and then quietly abandon the commitment when no one’s looking. Meanwhile, Bay Area residents continue playing real-life Monopoly with housing prices that would make a hedge fund manager blush.

At this rate, the only housing Zuckerberg will be funding is the metaverse – where rent is virtual, but the disappointment is very, very real.