Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta in an effort to encompass its virtual-reality vision for the future, what Zuckerberg calls the “metaverse.” The announcement comes amid an existential crisis for Facebook. It faces heightened legislative and regulatory scrutiny in many parts of the world following revelations in the Facebook Papers.
Skeptics point out that it also appears to be an attempt to change the subject from the Facebook Papers, a leaked document trove so dubbed by a consortium of news organizations that include The Associated Press. Many of these documents, first described by former Facebook employee-turned-whistleblower Frances Haugen, have revealed how Facebook ignored or downplayed internal warnings of the negative and often harmful consequences its social network algorithms created or magnified across the world.
Zuckerberg says he expects the metaverse to reach a billion people within the next decade. The metaverse, he says, will be a place people will be able to interact, work and create products and content in what he hopes will be a new ecosystem that creates “millions” of jobs for creators.
Zuckerberg said the name “Facebook” just doesn’t encompass “everything we do” any more. In addition to its primary social network, that now includes Instagram, Messenger, its Quest VR headset, its Horizon VR platform and more. According to him, Metaverse is the new way. Zuckerberg explained that the word “meta” comes from the Greek word “beyond.”
A corporate rebranding won’t solve the myriad problems at Facebook revealed by thousands of internal documents in recent weeks. It probably won’t even get people to stop calling the social media giant Facebook — or a “social media giant,” for that matter.
