Overview
- Dean Baker says Mark Zuckerberg effectively threw roughly $77 billion “into the toilet,” calling the Metaverse bet a broader economic failure rather than just a corporate loss.
- His critique centers on misallocated labor, facilities, equipment and electricity that he says could have supported more productive uses across the economy.
- Baker warns the ongoing AI buildout is absorbing top engineers, placing heavy demands on the power grid and complicating climate goals, with tech wealth effects driving much of 2025 consumption.
- Meta has been reported to be cutting back its Metaverse unit to prioritize AI projects following years of weak user traction for the virtual‑reality push.
- Meta announced the acquisition of AI startup Manus, saying it will operate and sell the Manus service and integrate its technology into products such as the Meta AI chatbot.