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Facebook Created Economic Impact Of $227 Billion, 4.5 Million Jobs In 2014

Facebook Created Economic Impact Of $227 Billion, 4.5 Million Jobs In 2014

Deloitte on Tuesday came out with a study on Facebook Inc (NASDAQ: FB) that measured the economic impact of the social media giant. CNBC's Kayla Tausche reported on this while Joe Steinberg, CEO DailyMail, North America, provided his perspective on why Facebook would have commissioned this study.

"According to a study by Deloitte, Facebook is worth a lot to the global economy," Tausche said. "The report, which full disclosure was commissioned by Facebook, says the social network created $227 billion in economic impact along with 4.5 million jobs last year, that according to the report. Now apparently, use of advertising, mobile apps and games were among the factors considered in the study."

Tausche continued, "The report also says that if Facebook were a country, it would be the second-most populated nation in the world… A lot of the independent economist have responded to this report saying, how do you really view these results? Is Facebook an effect and not a cause of internet expansion, how do you really measure this?"

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Steinberg added to that, saying, "The question is also why did they do this study? Did they do this study because Sheryl Sandberg was heading to Davos and she wanted to talk about their contribution to the global economy or was it because they were saying, 'Where are there addressable markets that we can extract more revenues from?'"

"For example, in that report, they say that Facebook generates $50 billion of purchases that are motivated by Facebook. Facebook has to be thinking ‘Oh! Can we get a percent of that? Can we get a percent of this job creation think?"


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Posted-In: CNBC DailyMail Joe Steinberg Kayla TauscheTech Media Best of Benzinga