The social media universe is about to change. Facebook is still the King, but they face competition. One of them is Trump and his new Media company that will launch next month. But the internet itself will also change. That`s why Facebook change its name.
At the annual Connect conference on Thursday, CEO Mark Zuckerberg announced that Facebook will change its name to «Meta.» But note that it is not the app, but the company that is changing the name.
The name is meant to evoke the new focus on building the metaverse, what Meta envisions as the natural evolution of the internet where users interact using all sorts of devices from AR to VR and even the best Android phones.
One of the main reasons why Zuckerberg is doing this is to separate the company from the social media app, and better envoke the various platforms and projects Meta is involved with beyond Facebook.
Facebook is more than just a social media app, and therefore the change to Meta. This is similar to what Google did when they changed their company name from Google to Alphabet. Facebook`s vision is to connect people whether through WhatsApp, Instagram, or its VR platform and their popular Oculus Quest 2. So, it`s not just a social media company anymore.
Alphabet changed its name and made its businesses cleaner and more accountable. So is Meta. Reality Labs, which is responsible for the company`s VR/AR efforts, will be reported separately from the company’s other products. This will allow investors to better track the progress being made as Meta continues to advance these experiences.
It has been a lot of noise around Facebook recently, and they are accused of having a harmful effect on teens. Changing the company name from Facebook to Meta won’t change anything. Facebook as a social app will remain the same.
That being said; Facebook is NOT DANGEROUS or HARMFUL. People are!
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