Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company's annual Connect conference on Oct. 28, but it could be unveiled sooner, the Verge reported.
Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company's annual Connect conference on Oct. 28, but it could be unveiled sooner, the Verge reported.
The rebranding would position Facebook's social media app as one of many products under a parent company, which will also oversee groups like Instagram, WhatsApp, Oculus and more.
The why
The news comes at a time when the company is facing increasing U.S. government scrutiny over its business practices. Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook
Mark Zuckerberg plans to stress that his company is focusing on building the metaverse. He has increasingly spoken about the company becoming one that is increasingly seen as a "metaverse business", and earlier this week the social media giant announced plans to hire 10,000 people across the EU to help build this idea out. The new name however is being kept secret. The Metaverse is supposed to be virtual environment almost akin to a social video game where u make avatars, explore and meet new people, etc. Sounds exciting, but given Facebook’s history, I see some serious privacy issues at hand.
Facebook have a pretty great name.
It’s a Schelling point at this point.
By change of name Facebook could find a focal point because they act as members of team instead of individuals in a cooperative game. With the identity changed, the player follows the prescription of an imaginary group leader to maximize the group interest.