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Facebook Inc. rebrands as Meta to stress ‘metaverse’ plan | Us World News – Las Vegas, Nevada

Las Vegas, Nevada 2021-10-28 15:20:49 –

Oakland, CA (AP) —Facebook CEO Mark Zuckerberg said his company has changed its brand name as Meta to embrace future virtual reality visions. Metaverse.. “

Skeptics point out that it also appears to be an attempt to change the subject from Facebook paper, A pile of leaked documents dubbed by a consortium of news organizations, including the Associated Press. Many of these documents, first written by Franceshausen, who turned from a former Facebook employee to a whistleblower, ignore internal warnings of the negative and often harmful consequences of Facebook’s algorithms around the world. Or revealed a method that was neglected.

The Facebook app stays here, along with Instagram, WhatsApp and Messenger. No one changes the name. The corporate structure of the company does not change either. However, on December 1st, the stock will begin trading under the new ticker symbol “MVRS”.

“Facebook is the world’s social media platform and has been accused of creating something harmful to people and society,” said marketing consultant Laura Ries. She compared the name Meta with when she rebranded it to “Beyond Petroleum” to escape criticism that BP was harmful to the environment. “They can’t leave the social network under the new company name and talk about the future metaverse.”

What is the Metaverse? Think of the Internet as lively, or at least rendered in 3D. Zuckerberg describes it as a “virtual environment” where you can go inside as well as look at the screen. In essence, it’s an endless world of interconnected virtual communities where people can meet, work, and play using virtual reality headsets, augmented reality glasses, smartphone apps, or other devices. is.

Other aspects of online life, such as shopping and social media, will also be incorporated, according to Victoria Petrock, an analyst who follows emerging technologies.

Other tech companies such as Microsoft, chip maker Nvidia, and Fortnite maker Epic Games all outline their own vision of how the Metaverse works.

After being told by a Facebook rename reporter, Richard Kerris, vice president of Nvidia’s Omniverse platform, said: “I think there are many companies building virtual worlds and environments in the Metaverse, just as there are many companies doing something on the World Wide Web.”

Zuckerberg says Metaverse expects to reach 1 billion within the next decade. He wants it to be a place where people can interact, work, create products and content, and create a new ecosystem that creates millions of jobs for creators.

This announcement is in the midst of Facebook’s existential crisis. Legislative and regulatory oversight has increased in many parts of the world following exposure on Facebook Papers.

Some of Facebook’s biggest critics didn’t seem to be impressed. Real Facebook Oversight Board, a watchdog group focused on the company, has announced that it will retain its own name.

“Renaming doesn’t change the reality. Facebook is destroying our democracy and is one of the world’s leading merchants of disinformation and hatred,” the group said in a statement. Independent monitoring was needed to hold Facebook accountable. “

When describing the brand change, Zuckerberg said the name “Facebook” doesn’t cover everything the company does anymore. In addition to the major social networks, it now includes Instagram, Messenger, Quest VR headsets, Holizen VR platforms and more.

“Today we are considered a social media company,” Zuckerberg said. “But in our DNA, there are companies that build technology that connects people.”

Corporate rebranding doesn’t solve the myriad of Facebook issues revealed by thousands of internal documents in recent weeks. Perhaps you can’t even stop calling people the social media giant Facebook, or the “social media giant.”

But that doesn’t stop Zuckerberg, and he seems to want to move on to his next big thing as a crisis after a crisis in the company he created.

While most dismissing the exposure from Facebook Papers as an unjust criticism, Zuckerberg focuses on building a virtual environment where you can go inside as well as look at the screen.

Just as smartphones have replaced desktop computers, Zuckerberg is confident that the Metaverse will be the next way people interact with computers and with each other. If Instagram and messaging were Facebook’s move into mobile evolution, Meta is a bet on the Metaverse. And what’s better than renaming to show how serious he is?

Roundhill Ball Metaverse ETF, a Metaverse-focused fund, started trading on the New York Stock Exchange earlier this year using the ticker symbol META, which could have forced Facebook to choose MVRS instead. There is sex.

“I think my phone is melting,” the creator and Metaverse enthusiast Matthew Ball tweeted Thursday after Zuckerberg’s announcement. He welcomed Facebook’s Metaverse Vision in an interview, stating that the company is already one of the most highly rated stocks in his index.

“It doesn’t care about me at all,” he said.

Copyright 2021 AP communication. all rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

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