The Future of Facebook: Rebrand, Refocus or Deflection?
Mark Zuckerberg announced his vision for the “Metaverse” at Facebook Connect this week, announcing that Facebook (the company, not the app) is changing its name to “Meta” in order to reflect its new focus.
This comes at a time of a company in crisis and wide-range scrutiny, and many speculate if this is really about a forward-looking new vision or a move away from the social-media business that is under fire.
The metaverse, as defined by Oxford Languages, is “a virtual-reality space in which users can interact with a computer-generated environment and other users.” A more in-depth description calls it “a speculative future iteration of the Internet.” This, it seems, is the direction of the future that the Internet is taking: technology-enhanced three-dimensional virtual spaces. Ultimately, the plan is to turn the worldwide web into what some are calling “a communal cyberspace,” where avatars can roam through all sorts of different environments—and universes.
What Will Happen Next?
Zuckerberg, noting in a blog post that privacy and safety would be built into the new generation of products “from Day One” — acknowledged the issues of privacy and trust.
Will the rebrand minimize the scrutiny? Certainly not.
Will the new name Meta stick? That remains to be seen.