A winner of the Nobel Prize in Economics, Paul Krugman wrote in 1998, “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law’—which states that the number of potential connections in a network is proportional to the square of the number of participants—becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the econo…
The amount of misuse this quote gets is as absurd as it is tiresome. People were using it to defend NFTs too. Someone’s opinion on one thing says nothing about someone else’s opinion about a different thing.
For every Krugman "the internet will be as useful as the fax machine" quote, there's a corresponding quote like Gartner in 2022 - "Gartner Predicts 25% of People Will Spend At Least One Hour Per Day in the Metaverse by 2026."[0]
[0] https://www.gartner.com/en/newsroom/press-releases/2022-02-0...