AN ARTICLE A DAY, PICKED BY OUR EDITORS

The metaverse–while still in its early stages, it has become a force that is impossible to ignore. It has captured the imagination of not only individuals but also companies, both big and small. With millions of people flocking to the metaverse and investors piling in, what does this mean for CEOs? The potential is enormous, according to McKinsey’s Homayoun Hatami, Eric Hazan, Hamza Khan, and Kim Rants in a new McKinsey Quarterly article. They estimate that the metaverse could generate $4 trillion to $5 trillion in value by 2030 and outline the opportunities and obstacles in the road ahead. See why the metaverse should be a CEO issue and the 3 steps business leaders can take to be prepared for the future.

A CEO’s guide to the metaverse

It’s too big to ignore—yet its future is far from certain. Companies need to dip a toe in the water and plan to take the plunge should developments warrant.

Quote of the day

“It doesn’t matter if they find some of the arguments a bit tricky or unimportant. I think that people need to know the basics of economics in order to have a meaningful democracy.”

—Ha-Joon Chang, a research professor of economics at SOAS University of London, on why everyone should understand some economics in a recent Author Talks interview 

Chart of the day

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— Edited by Joyce Yoo, editor, New York

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