What has changed for Facebook?
First of all the name, but not the company structure. Facebook Inc. will become. Previous Meta Platforms Inc. The exchange’s abbreviation will be changed from “FB” to “MVRS” at the beginning of December. Meta must also be created as a brand. The group’s “virtual reality” glasses will be sold under the name “Meta” instead of “Oculus”. The model will be called “Oculus Quest”, for example, “Meta Quest”. The “Facebook Portal” video conferencing device will also be renamed “Meta Portal.”
What will happen to Facebook?
Facebook won’t define the group as it once did, but it will only be one of the many different products under the Meta umbrella, albeit still very important. In principle, Facebook will be on par with other platforms such as Instagram or WhatsApp.
Why is Facebook doing this?
Mark Zuckerberg says Facebook is one of the most used “products in the history of the world” and an “icon”, but it reflects less broadly the company. Of course, the Facebook name has also become a mortgage and is closely related to the many controversies surrounding the company. Former employee Frances Hogan accuses the internet giant of not doing much to counteract the damage its platforms are causing.
Why dead of all places?
The new name is based on plans to develop a “metaverse,” a type of virtual space that Zuckerberg describes as the “next generation of the Internet.” Users must become part of the Internet. The term first appeared nearly thirty years ago in the dystopian science fiction novel “Snow Crash” by Neil Stephenson. Zuckerberg also said he saw the Greek word “meta” meaning “beyond” as a symbol that there were still many things to develop.
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How do you imagine metaverses?
It is still a mystery, but Zuckerberg has given examples of reviving the term. Video games should feel as if everyone is in the same place. In practical life, virtual meetings should give the feeling that all participants are in the same room.
Is this more than just a gimmick?
Facebook asserts that the metaverse is now the core of the strategy. The company says it plans to invest billions in this area. 10,000 jobs will be created in Europe to boost Metaversum’s efforts. Other notable technology companies are also promoting the concept, such as software group Microsoft, semiconductor company Nvidia, or video game manufacturer Epic Games (“Fortnite”).
What products is Facebook developing for the Metaverse?
Hardware and Software: On the hardware side, these are primarily technologies related to virtual reality (“virtual reality”) and augmented reality (“augmented reality”). Some products already exist, such as the VR glasses that were previously sold under Oculus. The group has now also introduced a new and more complex model of glasses. He recently brought out digital glasses with eyeglasses brand Ray-Ban, which is said to be a pioneer of augmented reality glasses. On the software side, Facebook is working on several VR platforms such as “Horizon Worlds”.
What will change for Mark Zuckerberg?
no thing. He says he wants to stay on as CEO of the company. He also leads the Board of Directors and controls the majority of voting rights.
Have other tech companies really rebranded themselves?
Yes really. Google switched to Alphabet Holding six years ago. Unlike Facebook, a new build has been linked to this. Various future activities such as autonomous driving technologies have become autonomous units. Admittedly, Google remains by far the most important subsidiary to this day.
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