The term “manosphere” first emerged in 2009, referring to a collection of blogs like The Spearhead and Return of Kings that promoted “men’s rights” and criticized the feminist movement, at times promoting violence against women.

Over the next 15 years, the term evolved to encompass not just a generation of bloggers, but men no longer hiding behind keyboards and usernames—content creators and influencers attaching real names to their beliefs around what it means to be a man.

It would therefore be inaccurate to call the manosphere just an ideology, when actually it has transformed into its own economy—one exploiting Gen Z men’s anxieties and resentment toward society, according to researchers from digital safety organization Reset Tech and the nonprofit Equimundo.

In a new report titled “The Grift Economy: How Young Men Are Being Sold Fake Belonging and Fake Wealth Online,” they found the “movement” around men’s rights and masculinity masks a multibillion-dollar industry.

“We should be deeply concerned about the opportunists,” the report said. “In the very real moment of confusion–politicians peddling fear, uncertain job prospects, battles over the meaning of manhood–there is an industry of platforms, influencers and advertisers who are making billions off of young men’s insecurities.”