Facebook officially changed its name to Meta on the 29th. Interestingly, after Mark Zuckerberg announced his entry into Metaverse, the company’s stock fell. According to Mark himself, Facebook changed its company name to Meta this time, effectively downgrading Facebook’s service of the same name to one of the company’s subsidiaries, alongside Instagram and WhatsApp, rather than the overall brand.
Another meaning? Meta Universe?
In other words, Facebook’s various projects will now be classified under the “Meta” , reflecting its focus on the continuous development of next-generation digital connections. Mark tried to get rid of the social media label on Facebook and instead put on a new label “Meta Universe”.
Regarding this matter, aside from the concept of meta-universe, quite a feeling that Mark wants to make himself and Facebook company cover something. Why do you say that? Because Facebook has a lot of bad things this year.
Bad things happen this year
- For example, a few days ago, at a hearing in the US Senate, former Facebook product manager Francis Hogan publicly pointed out that Facebook products have problems such as harming children, amplifying prejudice, and encouraging polarization.
- Prior to this, Facebook has been frequently criticized by the outside world on issues of user privacy, data security, and youth protection, such as the supervision of key issues. For example, the 2016 Cambridge Analytica election manipulation scandal, and now it faces the testimony of the Facebook whistleblower Congress.
Another example is an incident that happened not long ago. The websites and apps of Facebook and its two major online social platforms Instagram and WhatsApp experienced collective downtime, which lasted for more than 6 hours, and the market value evaporated by US$64.3 billion overnight, which triggered the outside world to Facebook A serious crisis of trust.
When the concept of Meta Universe was being fired up, Mark stated that Facebook would make a major transformation within five years, so that people’s perception of Facebook would be transformed from a social media company to a Meta Universe company.
As far as the current situation is concerned, the closest product and approach to the meta-universe form is VR/AR technology. For the VR industry, this gust was blown by Facebook.
Finally, whether he want to take the opportunity to renew the life of his own VR business, or he want to use this wave of name changes to replace the old and rebuild the corporate brand image, Facebook has to face many problems, because the name change does not mean that it can be completely Covering up the company’s problems is just like the antitrust review after Google changed its name to Alphabet in 2015.