Mark Zuckerberg Threw $77 Billion 'Into The Toilet' On Metaverse, Says Economist Dean Baker: Asks If He Is Set To Waste Billions More On AI

Core Viewpoint - Economist Dean Baker criticizes Meta Platforms Inc. CEO Mark Zuckerberg's $77 billion investment in the Metaverse, viewing it as a significant economic failure with social costs rather than just a corporate loss [1][2]. Investment Impact - The $77 billion investment in the Metaverse is seen as a diversion of talent and resources from more productive uses, which Baker argues has broader implications for society [3][4]. - Baker emphasizes that the resources tied up in the Metaverse project, including software engineers and physical inputs, could have been utilized for more beneficial purposes, such as affordable housing in the Bay Area [4]. Broader Economic Context - The failed Metaverse investment is particularly relevant as major technology firms are now investing heavily in artificial intelligence, which is reshaping the economy and absorbing top engineering talent [5][6]. - Baker warns that the AI investment boom is straining power grids and complicating climate goals, raising questions about the effectiveness of capital stewardship by leaders like Zuckerberg [6].