GLOBALLY DOMINANT SOCIAL NETWORK Facebook, which has had multiple hits to its reputation in the recent past, has changed its corporate name to Meta as part of a major rebrand.
The word “meta” comes from the Greek word meaning “beyond”.
Company founder and CEO Mark Zuckerberg stated: “Meta’s focus will be to bring the metaverse to life and help people connect, find communities and grow businesses.”
As per the company: “The metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can’t be together — and do things together you couldn’t do in the physical world. It’s the next evolution in a long line of social technologies, and it’s ushering in a new chapter for our company.
“Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.”
The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.
The announcement follows explosive revelations from a former Facebook employee that blew the lid off the internet giant’s pathetic record in controlling the spread of misinformation and calls to violence, putting “profits over safety”. The expose is based on documents leaked by Frances Haugen, who worked as a product manager at the corporate behemoth until May.
The disclosures made by Haugen’s attorneys illustrate a roiling internal debate at Facebook at the same time it has been in a harsh external spotlight, with congressional hearings, privacy investigations, antitrust lawsuits and other scrutiny by outsiders.
“Facebook is the world’s social media platform and they are being accused of creating something that is harmful to people and society,” AP quotes marketing consultant Laura Ries as having said. She compared the name Meta to when BP rebranded to “Beyond Petroleum” to escape criticism that it harmed the environment. “They can’t walk away from the social network with a new corporate name and talk of a future metaverse.”
