No, a boomerang effect is when something changes to return to its original state. E.g. there is a concept that the Great Resignation will be followed by the Great Return, where people left their original role, only to return to it in the future.
However, the age of social media, broader collaboration, higher virtual experiences are here to stay. You will see wider adoption of these as new operating environments kick in. This is happening across all industries where professionals have new ways to communicate and engage. Look at these stats:
The below shows the adoption of social media platforms in % growth year on year. This is massive adoption:
Just looking at youtube as an example (you will find similar layouts), we find that people use social media for everyday capabilities (such as learning, discovering products, entertaining etc.):
Again, just on youtube, 90% of people use social and video to discover new brands:
And one last one, how much time people spend on social media has been ever-growing per day:
Now, suppose we add to this social growth augmented realities the world where the metaverses are heading (from fad to actual). In that case, we can see how this meshing of virtual and real universes will impact every sector of the economy and our daily lives across:
- Entertainment and leisure
- Social Media
- User Interfaces
- Content Creation
Using some examples, these social platforms have given new ways for people to entertain and collaborate entirely with:
- Concerts (Check out Fortnite and hosting shows of marshmallow, Ariana grande, etc.)
- Massive announcements, e.g. a special event for Star Wars etc.
These spaces evolved into a provider of virtual worlds, where people can escape and live in either their current self or alter ego. This means people can be who they want and how they want within a safe environment while having fun and getting valuable new experiences. Each person is in the same 3d world and experiencing the same event from a different point of view.
With all of this going in this direction, companies will continue collecting more and more data about us and our behaviours. This will mean more power to create personalised experiences that influence and drive differentiated decisions (we are in dangerous land here, shifting between extreme convenience and extreme invasion of privacy and self-decision). Let's leave conspiracies aside, though here.
Let's look at the past impact (Stats above), the future direction of what technology is doing to mesh real life with social with business etc. I cannot see how the social media and the range of data they are collecting as a phenomenon will slow down its growth or effect. This means I do not see it as a boomerang effect.
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