Facebook changed its name to kill two birds with one stone: creating a regulatory umbrella and focusing on the Digital Frontier

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Figure: Mark Zuckerberg, CEO of Facebook, said in his online activity that he wanted to build a composite world meta universe integrating online platform, virtual reality and augmented reality.
Tencent technology news on October 29, Facebook CEO Mark Zuckerberg announced on Thursday that the company was renamed meta in order to better focus on the development of meta universe business. The company chose to change its name at this time, on the one hand, in order to get rid of the negative impact and reduce the pressure from the public and regulators; On the other hand, it wants to become an industry leader in the meta universe and walk at the forefront of the new generation of digital field. However, the key to the success of the company is whether it can attract more people to cooperate in the development of metauniverse.
In the past 20 years, Facebook has become famous with a large white letter F on a blue background, which is also one of the most famous brands in the world.
But this f is about to disappear. On Thursday, local time, the social networking platform took a clear step in the company’s reform. Instead of emphasizing the name Facebook, it renamed the company meta. The company also launched a new logo, which looks like a slightly skewed infinite symbol. The company said that Facebook’s main application and its instagram and WhatsApp applications will remain, but they will be under the umbrella of meta.
The move highlights the company’s CEO Mark Zuckerberg’s plan to refocus the company on the digital world of the meta universe, which Zuckerberg himself believes is the next digital frontier. At the same time, renaming Facebook may help the company stay away from the current social network controversy and forget the negative comments on how the platform is used to spread hate speech and wrong information.
“I’ve been thinking about our identity,” Zuckerberg said at a virtual event on Thursday. At this event, Facebook demonstrated the company’s technology bet on the future. “Over time, I hope we are regarded as a meta universe company.”
Zuckerberg said that through this adjustment, the company will surpass the current social network business. Since Facebook was founded 17 years ago, the company has been based on social networks. Zuckerberg said that the company now has many applications, essentially to connect people, and using Facebook as the company name is no longer tenable.
Zuckerberg stressed that renaming is also in line with reality. Because Facebook has been committed to building a composite world integrating online platform, virtual reality and augmented reality, so that users can realize seamless crossing between them. He once said that this concept called “meta universe” is likely to become a new generation of major social platforms, and several technology companies have planned to build a meta universe in the next 10 years. On Monday, Facebook split its virtual reality and augmented reality business into a department called Facebook reality labs, indicating its intention to become an industry leader in the meta universe.
Figure: the company’s new logo appeared at the headquarters on Thursday.
But it will take time to turn a social networking company like Facebook into a real metauniverse company. At present, this concept is still theoretical and may take several years to realize. At present, Facebook and its other applications are still a huge business, generating more than $86 billion in revenue every year and serving more than 3.5 billion people around the world.
The company chose to change its name at this time to kill two birds with one stone. In recent weeks, Facebook has faced the strictest regulatory scrutiny in history. Lawmakers and the public criticized the instagram photo sharing app, which has a negative impact on many teenagers. Facebook also faces public doubts because of its role in amplifying misinformation and inciting riots.
The protest against Facebook reached a climax after former employee Frances Haugen leaked some internal documents of the company. Relevant documents show that the company is aware of the harmful impact caused by itself.
Hogan’s disclosure of the company’s internal documents led to a hearing in the U.S. Congress and brought a series of regulatory reviews to Facebook. On Monday, hogan addressed lawmakers in the British Parliament, urging them to regulate Facebook. On Tuesday, Facebook asked employees to “properly keep internal documents and communications related to the company’s business since 2016” because regulators have begun to investigate its operation.
Although the practice of renaming large enterprises is rare, there are precedents. This approach usually indicates that a company is restructuring or trying to keep the company away from bad reputation.
In 2015, Google reorganized the company, split itself into several independent companies, and established its parent company, alphabet, to continue its operation, in order to distinguish the Internet search business from venture capital in other fields. In 2011, Netflix announced plans to split its video business into two parts and temporarily rename its DVD mailing business as qwikster.
Last week, it was reported that Facebook might change its name, and there were some negative comments on social media. Some people recalled that Philip Morris, a tobacco giant, changed its name to Altria group in 2001 after its reputation was damaged by its adverse impact on the American public over the years.
Nicholas Clegg, Facebook’s vice president for global policy and public relations, rejected such comparisons, saying they were “extremely misleading”.

At present, Facebook changed its name mainly to decorate its appearance. The company will start trading on the stock market with the new code mvrs on December 1. Facebook will also change the brand names of some virtual reality products from oculus to meta.
It is worth noting that Facebook did not restructure internally, nor did it announce any executive change plans. Zuckerberg will also continue to serve as CEO and chairman. He still has a majority vote on any changes that may affect the future of the company.
Jennifer grygiel, an associate professor and social media researcher at Syracuse University, said: “no matter what Zuckerberg calls it, it will still be Zuckerberg until he gives up some power and gives in to the company’s professional governance.”
For months, Facebook has been preparing to enter the meta universe. Last year, the company released the latest virtual reality helmet oculus Quest 2. In August this year, Facebook launched a virtual reality service called horizon studios, which allows people using virtual reality headsets to gather together as if they were actually attending a work conference. In September this year, the company also announced to cooperate with leipeng to build smart glasses that can record video.
These products are a piecemeal part of metauniverse’s business. Zuckerberg admitted on Thursday that the metauniverse still sounds like “science fiction”.
Andrew Bosworth, chief technology officer of Facebook, also admitted that metauniverse needs major technological breakthroughs to achieve. The company is developing new virtual reality and augmented reality devices to make them smaller, cheaper and more immersive.
Nevertheless, Zuckerberg called metauniverse “the successor of mobile Internet” on Thursday, and said that mobile devices will no longer be the focus. He said that the building blocks of the meta universe have also become a reality. In a demonstration, Zuckerberg showed off his digital avatar. He said that no matter when and where friends and family are, users can send digital avatars to different digital worlds to talk to each other.
“You really feel like you’re with others,” Zuckerberg said. “You won’t be confined to a world or platform.”
Zuckerberg said that creating a metauniverse requires cooperation between different technology companies, new corporate governance models and other new elements that will not appear in the short term. He listed several areas that can be used in the metauniverse, such as video games, fitness and work.
In Thursday’s online event, Zuckerberg also showed the company’s virtual conference service horizon workrooms, talked about several immersive video games, demonstrated horizon worlds, a social network based on virtual reality, and recommended that friends and family can get together and interact through horizon worlds.
To some extent, Zuckerberg’s success mainly depends on how to attract others to jointly develop new applications that can run in the metauniverse. Like the mobile application economy, if there are more programs and software, users are more likely to join the new computing ecosystem.
Therefore, Zuckerberg said that he will continue to provide low-cost or free services to developers, and invest through developer funds and other ways to attract more third-party developers for metauniverse. In addition, Facebook announced a $150 million investment for developers developing immersive learning applications and applications.
Zuckerberg said, “we are fully committed to this.” “this is a new chapter in our work.” (compiled by Tencent technology / Jiao Han)