As Facebook CEO Mark Zuckerberg on Thursday, 28 October, announced that the tech giant will now be called 'Meta,' experts around the world have analysed the implications of the landmark move.
The rechristening, which is emblematic of Facebook's expansion into the metaverse, has largely been construed as a venture for modifying the company's public perception, and creating a market for the metaverse.
Here are some of dominant views on Facebook's restyling.
Towards a Broader Identity
An evaluative article carried by The Wall Street Journal dubs the renaming a 'common tactic' to signify a change, or an expansion, in the company's area of interest.
For instance, Apple Computers had been rebranded to Apple Inc in 2007, as it had forayed into the development of a more diverse range of gadgets.
“This transition from an initial product or service offering to a broader identity is fairly typical for large companies as they scale — and sometimes that does necessitate a name change,” Phil Davis, president at naming agency Tungsten Branding, told WSJ, adding, “They’re saying: We’re not ‘that’ anymore. We’re more ‘this.’”
'A Gauze to Cover a Tarnished Name'
"For today, the rebrand mostly applies gauze to cover a tarnished name," Robert Cyran, a United States-based tech columnist, opines in an piece for news agency Reuters.
Facebook's popularity has dwindled heavily in the past few months, particularly after a whistleblower, Frances Haugen, accused the company of a number of malpractices.
Critics suggest that the metaverse angle is merely a ruse to divert attention from the company's attenuating public image.
“The fact that Zuckerberg has set his sights firmly on the so-called ‘metaverse’ while societies all over the world are scrambling to alleviate the myriad harms caused by his platforms just goes to show how out of touch Facebook is with real people,” Imran Ahmed, CEO of the Center for Countering Digital Hate, told The Guardian.
Logical Step to Mitigate Risks
Ashwini Deshpande, co-founder and director of Elephant Design, a Pune-based strategic design and innovation consultancy, suggests that the renaming creates a sharp distinction between the parent company and its individual products.
“It makes absolute sense for Facebook to become a house of brands,” Deshpande told Moneycontrol, adding that it was “logical step that mitigates risks” posed to the company by individual apps like Facebook, WhatsApp, and Instagram.
The company name Meta wouldn’t change the lives of the users on these apps, she adds. However, “it would be an attractive space for innovators as well as investors,” says Deshpande.
(With inputs from WSJ, Reuters, Moneycontrol, and The Guardian)
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