Meta-commissioned report claims the metaverse could contribute $760 billion to US GDP...


Posts: 9,154   +117
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A hot potato: Even before the rise of AI, interest in the metaverse was waning – not that there was much to begin with. ChatGPT and similar programs have really pushed it into the background, but according to a new study, the metaverse could contribute around $760 billion, or 2.4%, of the US annual gross domestic product (GDP) by 2035. Who commissioned this study? Meta.

Mark Zuckerberg's unwavering faith that an immersive AR/VR metaverse will one day be as popular as smartphones resulted in Facebook changing its corporate name to Meta in 2021.

But things aren't going too well for Meta's metaverse ambitions. One only has to look at Reality Labs, the division responsible for metaverse-related tech (among other things). It has lost a massive $30 billion since 2020.

Zuckerberg hasn't been put off, though. The CEO has long claimed that all the money poured into metaverse projects will ultimately pay off. He believes the industry will be worth billions or even trillions of dollars in a decade, replacing mobile as most people's platform of choice.

A report by consulting firm Deloitte (via Reuters) commissioned by Meta seems to back up Zuckerberg's beliefs, claiming that the metaverse could contribute as much as $760 billion to US GDP by 2035.

It's good news for Canada, too. Deloitte said the metaverse could contribute between C$45.3 billion ($33.88 billion) and C$85.5 billion to the country's annual GDP by 2035.

Meta said in a separate report that the European Union could also benefit from the metaverse, which could contribute up to 489 billion euros ($538.29 billion) in annual GDP by 2035 or about 1.3% – 2.4% of its total GDP.

A meta-commissioned global economic impact report from consulting firm Analysis Group last year was even closer to Zuckerberg's predictions. The report estimated that metaverse adoption would contribute $3.01 trillion by 2031.

Meta and Zuckerberg have talked less and less about the metaverse recently, opting instead to follow every other company and focus on implementing generative AI into its services. But it recently reminded people that the metaverse would probably be awesome one day, even though companies like Disney are abandoning their metaverse plans.

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Posts: 788   +1,610
TechSpot Elite
Sure, and from some insiders leaks, Deloitte said that next week will reveal another report, commissioned by Microsoft and OpenAI Chat GPT, to say that AI will contribute with 761 billions (1 billion more) until 2034 (1 year earlier) to US GDP.
Deloitte is also ready to reveal the next report, commissioned by Apple, to say that Apple VR headset will contribute with 762 billions (another 1 billion more) until 2033 (another year sooner).
Whoever pay more will have a better report from Deloitte. Let's the auctions begin.


Posts: 733   +1,309
Meta doesn’t get to claim credit for all the business it tangentially touches with its platform any more than the government can claim credit for all of the businesses that use roads.

But it won’t stop either from trying.


Posts: 374   +664
Looks to me like the metaverse will contribute -$760 billion to US GDP by 2035 the way they're currently going.

PS. - That image of Zuckerberg in the metaverse never gets old and always brings a laugh. I call it Baby's First 3D Modelling Project.

Uncle Al

Posts: 9,794   +9,152
Well of course THEIR report is going to say that ..... but how many times in the past have they lied?


Posts: 1,735   +1,246
Ha - I worked for that company for 6 months as a young one - when it was Delays , Hassles and Stalls

Didn't believe for one minute the BS you too could be a Partner
Left as didn't pay me enough - had a 99% charge out as well
Deeply cynical about any report done by such companies - easy money projects - CEO we want to do X - here's 100 grand give me a report to cover my behind

Really hard to take litigation against such companies outside sexual or discrimination cases - no matter how bad they do Audits


Posts: 994   +1,028
As I say on all articles about Zuck's Metaverse..... There will be a Metaverse it absolutely has to happen, but we the public, need to do everything in our power to ensure that the Metaverse that does arise is, like the Internet, not owned by a private corporation, but is instead more a concept onto which companies and individuals can feely plug their own portals etc. I can't think of any more dystopian hell than the internet of the future effectively being owned by Meta or Google.