The text discusses how Gross Domestic Product (GDP) inadequately measures consumer well-being, especially in the digital economy where many goods are offered for free and their welfare benefits are not reflected in traditional economic metrics. It highlights the development of a new metric, GDP-B, to account for the welfare gains from digital goods, like Facebook, that could significantly alter GDP growth estimations. The study also explores the impact of social media on well-being and academic performance, proposing new methods to measure these effects in the evolving digital landscape.