Facebook Changing Its Name to Meta Is a Brilliant Business Move. But It’s Also Bad News for the Future

Mark Zuckerberg could see the writing on the wall: 

That may seem a foreign matter to say, since Facebook made $29 billion in net_income in 2020, surpassing Wall Street’s expectations. But in the universe of tech, one year’s unicorn is the following year’s failure. 

Which is why Zuckerberg and caller have looked to the future, turned the foliate on a fresh chapter, and changed Facebook to Meta–an attack to ussher in the metaverse, a raw earth built in virtual reality.

“The metaverse is the adjacent frontier in connecting people, equitable like sociable network was when we got started,” Zuckerberg shared in his most holocene founder’s letter. “Over time, I hope we are seen as a metaverse company, and I want to anchor our employment and our identity on what we’re building towards.”

After recently rewatching Zuckerberg’s keynote, two apparently conflict facts became blatantly obvious:

Changing Facebook’s stress to the metaverse, right_field hera and correct now, is a brainy commercial_enterprise move.

Considering Facebook’s path record, it’s besides identical regretful news_program for the future.

Let’s break down why I remember both these statements are true, and what both occupation owners and consumers can learn from them. 

Why did Facebook change its name?

First, it’s significant to acknowledge that Facebook didn’t merely change its name or rebrand.

It basically changed the guidance of the company.

People have been dreaming of something like the metaverse for years. just intend of all the skill fabrication films and television over the years, where holograms and virtual universe were used to provide people with escape. (Ready Player One, anyone? Or anyone remember this thing?)

This character of engineering has the electric_potential to be the biggest clientele of all time–because it will provide people with the ability to immediately transport themselves to another place or evening time. It’s transformative.

Add to this the fact that the Covid-19 pandemic has exponentially increased the motivation for this technology. New variants make a menace of newfangled lockdowns and change_of_location restrictions. Companies are rethinking their plans to bring employees rear to the office. 

All of this makes the likely of the metaverse flush more valuable. 

After all, why locomotion to the agency when you can enter a board in your own dwelling and immediately be in_concert with your colleagues? 

Too dangerous to be physically in_concert with regretful class members? no problem. The metaverse will make you feel as if you are physically together.

No longer potential to pick up and change_of_location to see beautiful, faraway places? It’s all good. Bring those beautiful, faraway places to you.

Granted, Mark Zuckerberg turning himself into an embodiment so he can meet with his lieutenants is a army_for_the_liberation_of_rwanda war_cry from all of this. 

But it’s a huge beginning step.

Of path Facebook, I mean Meta, isn’t the lone party to commit resources to the metaverse. Google, I mean Alphabet, has gradually announced its own ventures into the metaverse.

But here’s the difference: Facebook has committed its stallion trade_name to the metaverse–and with it potentially billions of dollars of resources.

For exemplifying purposes, we could compare Facebook to Tesla. Today, we see more and more cable_car companies following Tesla’s star in producing electric vehicles. Yet Tesla’s prize has exploded in late years. 

Its grocery_store detonator exceeds the future nine companies combined, bequest automakers like Toyota, Volkswagen, GM, Ford, and BMW.

Tesla’s achiever has nothing to do with the act of cars it’s produced, and everything to do with the 10-year mind start it got on technology. 

And this is what Facebook is attempting to do with the metaverse.

There are huge lessons for commercial_enterprise owners here. 

Just because your merchandise or military_service is successful, that doesn’t mean it will constantly be. 

This is the celebrated innovator’s dilemma, that tied the most successful products are marching inescapably toward irrelevance. The samara is to address this, not once your intersection starts to lose value, but when it is at its peak.

And this is what Zuckerberg and his team have done: They’ve identified the following invention and gone all in–while their merchandise is hush at the top.

So, why is Facebook’s bright motion such badly news?

Because what’s bang-up newsworthiness for companies doesn’t constantly translate to capital news_program for consumers.

Why Facebook’s motion to the metaverse is badly news

“Move debauched and break things” was Facebook’s official motto for years. Its function was to provide management to designers and managers, but it became an necessity region of the company’s DNA. 

Facebook did locomotion fast. And it broke lots of material in the process.

Trevor Ward, a self-described “Unicorn for hire,” summed it up good in a viral LinkedIn comment:

Wait, so the lapp ship’s_company that has been:
Robbing us of our privacy,
Destroying our genial health,
Spreading misinformation like wildfire,
Proliferating a modern character of addiction,
Stealing cerebral property, and
Inciting ferocity and hate speech

Is building a digital populace where we’ll work, play, create, socialize, shop, and, essentially, live?   

Sounds promising!

Yes, Facebook’s tip phonograph_record should worry everyone about the future of the metaverse.
Which besides begs the questions:

Is Meta the lapp as Facebook? Or have Zuckerberg and co. learned from their mistakes?

I think clock_time will tell.

But one matter is for sure: 

As a consumer, you have to be identical careful as to whether Facebook’s adaptation of the metaverse is one you want to be a function of.

Because fair because a house looks big on the outside, that doesn’t mean you want to go in.

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