{"id":933573,"date":"2021-10-28T16:58:52","date_gmt":"2021-10-28T20:58:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=933573"},"modified":"2021-10-28T16:58:55","modified_gmt":"2021-10-28T20:58:55","slug":"facebook-changes-name-to-meta-in-hopes-of-reversing-brand-damage","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/facebook-changes-name-to-meta-in-hopes-of-reversing-brand-damage\/","title":{"rendered":"Facebook Changes Name to \u2018Meta&#039; in Hopes of Reversing Brand Damage"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffacebook-changes-name-to-meta-in-hopes-of-reversing-brand-damage%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=933573&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">OAKLAND, Calif. (AP) \u2014 Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta in an effort to encompass its virtual-reality vision for the future \u2014 what Zuckerberg calls the \u201c<a class href=\"https:\/\/apnews.com\/f57e01cd5739840945e89fd668b0fa27\">metaverse<\/a>.\u201d<\/p>\n<p>\n<iframe loading=\"lazy\" title=\"WATCH: Facebook Connect 2021 - Livestream\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/VKPNJ8sOU_M?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">Skeptics point out that it also appears to be an attempt to change the subject from&nbsp;<a class href=\"https:\/\/apnews.com\/hub\/the-facebook-papers?utm_source=apnewsnav&amp;utm_medium=featured\">the Facebook Papers<\/a>, 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 algorithms wreaked across the world.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">Facebook the app, along with Instagram, WhatsApp and Messenger, are here to stay; none will be changing their names. The company\u2019s corporate structure also won\u2019t change. But on Dec. 1, its shares will start trading under a new ticker symbol, \u201cMVRS.\u201d<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">\u201cFacebook is the world\u2019s social media platform and they are being accused of creating something that is harmful to people and society,\u201d said marketing consultant Laura Ries. She compared the name Meta to when BP rebranded to \u201cBeyond Petroleum\u201d to escape criticism that it harmed the environment. \u201cThey can\u2019t walk away from the social network with a new corporate name and talk of a future metaverse.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">What is the metaverse? Think of it as the internet brought to life, or at least rendered in 3D. Zuckerberg has described it as a \u201cvirtual environment\u201d you can go inside of \u2014 instead of just looking at on a screen. Essentially, it\u2019s a world of endless, interconnected virtual communities where people can meet, work and play, using virtual reality headsets, augmented reality glasses, smartphone apps or other devices.<\/p>\n<div id=\"attachment_18507234\" class=\"wp-caption alignnone\" readability=\"33\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/10\/mark-zuckerberg-metaverse.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18507234\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/10\/mark-zuckerberg-metaverse.jpg\" alt width=\"1000\" height=\"562\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Screenshot: Facebook co-founder Mark Zuckerberg envisions himself inside his \u201cMetaverse\u201d online space.<\/em><\/p>\n<\/div>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">It also will incorporate other aspects of online life such as shopping and social media, according to Victoria Petrock, an analyst who follows emerging technologies.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">Other tech companies such as Microsoft, chipmaker Nvidia and Fortnite maker Epic Games have all been outlining their own visions of how the metaverse will work.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">\u201cThat\u2019s cool,\u201d said Richard Kerris, vice president of Nvidia\u2019s Omniverse platform, after being told by a reporter of Facebook\u2019s name change. \u201cWe think there\u2019s going to be lots of companies building virtual worlds and environments in the metaverse, in the same way there\u2019s being lots of companies doing things on the World Wide Web.\u201d<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">Zuckerberg says he expects the metaverse to reach a billion people within the next decade. It will be a place where 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.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">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.<\/p>\n<figure id=\"D-ROS-B2\" class=\"a8d\"><\/figure>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">Some of Facebook\u2019s biggest critics seemed unimpressed. The Real Facebook Oversight Board, a watchdog group focused on the company, announced that it will keep its own name.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">\u201cChanging their name doesn\u2019t change reality: Facebook is destroying our democracy and is the world\u2019s leading peddler of disinformation and hate,\u201d the group said in a statement. \u201cTheir meaningless name change should not distract from the investigation, regulation and real, independent oversight needed to hold Facebook accountable.\u201d<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">In explaining the rebrand, Zuckerberg said the name \u201cFacebook\u201d just doesn\u2019t encompass everything the company does any more. In addition to its primary social network, that now includes Instagram, Messenger, its Quest VR headset, its Horizon VR platform and more.<\/p>\n<figure id=\"M-ROS-B4\" class=\"a8d adSo\"><\/figure>\n<div id=\"attachment_18507394\" class=\"wp-caption alignnone\" readability=\"33\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/10\/facebook-virtual-chess.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18507394\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/10\/facebook-virtual-chess.jpg\" alt width=\"1000\" height=\"562\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>A Facebook demo video suggests the company may someday allow virtual chess games across the world via holograms.<\/em><\/p>\n<\/div>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">\u201cToday we are seen as a social media company,\u201d Zuckerberg said. \u201cBut in our DNA we are a company that builds technology to connect people.\u201d<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">A corporate rebranding won\u2019t solve the myriad problems at Facebook revealed by thousands of internal documents in recent weeks. It probably won\u2019t even get people to stop calling the social media giant Facebook \u2014 or a \u201csocial media giant,\u201d for that matter.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">But that isn\u2019t stopping Zuckerberg, seemingly eager to move on to his next big thing as crisis after crisis emerges at the company he created.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">While largely dismissing revelations from the Facebook Papers as unfair criticism, Zuckerberg has focused on building a virtual environment you can go inside of instead of just looking at on a screen.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">Just as smartphones replaced desktop computers, Zuckerberg is betting that the metaverse will be the next way people will interact with computers \u2014 and each other. If Instagram and messaging were Facebook\u2019s forays into the mobile evolution, Meta is its bet on the metaverse. And what\u2019s better than a name change to show how serious he is?<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">A metaverse-focused fund, the Roundhill Ball Metaverse ETF, already started trading on the New York Stock Exchange using the ticker symbol META earlier this year, which may have forced Facebook to choose MVRS instead.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">\u201cI think my phone is melting,\u201d its creator, metaverse enthusiast Matthew Ball, tweeted Thursday after Zuckerberg\u2019s announcement. He said in an interview that he welcomed Facebook\u2019s metaverse vision, noting the company was already one of the highest-rated stocks in his index.<\/p>\n<p class=\"Component-root-0-2-219 Component-p-0-2-210\">\u201cIt doesn\u2019t bother me at all,\u201d he said<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OAKLAND, Calif. (AP) \u2014 Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta in an effort to encompass its virtual-reality vision for the future \u2014 what Zuckerberg &#8230;<\/p>\n","protected":false},"author":29,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-933573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/933573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=933573"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/933573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=933573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=933573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=933573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}