Facebook Inc officially changed its name to Meta. The new name is a rebrand for the parent company of social media services Facebook, Instagram and chat app WhatsApp.
Mark Zuckerberg, now the Founder and CEO of Meta, stated that the rebranding as Meta is a sign that Facebook, formerly known as a social media company, has now transitioned to a company focused on the metaverse. as the future of the internet.
Metaverse is expected to be the new future of Facebook, a new source of money for the company. The company has spent at least US$ 10 billion, or the equivalent of Rp 141.6 trillion, to build the metaverse.
Zuckerberg announced the name change to Meta at the annual conference in Connect on Friday, 29/10/2021 Jakarta time. This name change was previously a secret since the project started more than six months ago. Several employees involved were required to sign a separate confidentiality agreement.
Reported by The Verge Friday (10/29/2021), Mark Zuckerberg realized that this brand change was suspicious. In recent weeks, the company has come under a barrage of relentless criticism, after internal documents were leaked to the media by a former employee named Frances Haugen.
Facebook today is probably the most researched company and brand in the world deteriorated in the eyes of young people. For many critics, keeping the company brand and Zuckerberg away from the Facebook name would be seen as an avoidance tactic.
Zuckerberg stressed that the name change to Meta had nothing to do with the Facebook Papers leak.
Zuckerberg said, “It has nothing to do with it. While I think some people might want to make that connection, I think it’s ridiculous. I don’t even think it’s a setting where you would want to promote a new brand.” He told The Verge.
Zuckerberg admitted that he was considering rebranding the company after Facebook bought Instagram in 2012 and WhatsApp in 2014. But in early 2021, Zuckerberg realized there were changes that needed to be made.
This name change also responds to users’ confusion and awkwardness that the company’s brand is the same as the name of the social media app.
To build the Metaverse, Zuckerberg invested at least US$10 billion, or Rp 141 trillion. Too ambitious for an internet vision of a future inspired by science fiction novels.
Metaverse is not a new idea, but Zuckerberg made this speech openly in early 2021. The concept comes from Snow Crash, a dystopian novel from the 1990s. It tells the story of a collapsed real world situation and people flee to immerse themselves completely in the virtual world.
While Zuckerberg admits that this story sounds like a ‘fraud’ (because he escaped from the real world), Zuckerberg is trying to reclaim the metaverse as a utopian idea that will open up a new virtual goods and services economy.
Over the next decade, Zuckerberg saw that most people would spend time in a fully immersive 3D version of the internet. He forced his team to develop technology that would one day allow you to appear as a full-bodied avatar in virtual space, or as a full-fledged hologram of yourself in all the real-world living rooms of your earthly friends.
About Facebook Papers
Facebook is reportedly facing a major crisis during its 17-year existence. The consortium of 17 US news organizations publishes a series of news, collectively called the ‘Facebook Papers’.
The Facebook Documents are based on more than ten thousand pages of internal documents and were submitted to the US Congress by former Facebook employee Frances Haugen.
The gist of The Facebook Papers reveals how companies choose to make a profit rather than ensure the public’s safety and interests.
One of the reports, quoted from CNN Monday (10/25/2021), is how coordinated groups on Facebook are creating conflict and disagreement.
In addition, content moderation is emphasized in some non-English speaking countries. There are also reports of how traffickers are using the Facebook platform to exploit people.
Earlier, The Wall Street Journal, which is also part of the consortium, revealed that the Facebook Papers had raised concerns about the impact of Instagram on teenage girls. Antigone Davis, Facebook’s head of global security, must offer a statement before a US Senate subcommittee hearing on the case.
Meanwhile, Frances Haugen, known as an informant in the US media, testified before the Senate subcommittee. “Facebook products harm children, fuel division and undermine democracy,” She said.
In addition, members of the subcommittee
Facebook CEO Mark Zuckerberg asked for clarification. Not enough Frances Haugen, another Facebook employee anonymously filed a complaint with the SEC against Facebook with similar charges to Haugen.
