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Facebook name change6/11/2023 “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,” said Imran Ahmed, CEO of the Center for Countering Digital Hate. The revelations from the “Facebook papers” are just the latest struggle for the embattled company, which has in recent years been served with a lawsuit from the Federal Trade Commission (FTC), was the subject of numerous congressional hearings, and in 2019 was fined $5bn by the Federal Trade Commission in 2019 for “deceiving” users.Ĭritics of the platform contended on Thursday that the metaverse project is a distraction from the company’s PR crisis, and that the company risks making the same mistakes as it has in the past. Those include a series of recent reports based on documents leaked by the whistleblower Frances Haugen that exposed toxic business practices and internal knowledge of its longterm negative public health impact. “We want to serve as many people as possible, which means working to make our services cost less not more,” he said.įacebook’s rebranding effort is not unprecedented in the tech space – Google in 2015 restructured into a new holding company, placing subsidiaries including its namesake search engine, YouTube and its self-driving car firm Waymo under a new umbrella firm called Alphabet.īut Facebook’s announcement comes amid deep regulatory and PR challenges. The company has also dedicated $150m to developers to create new apps, games and immersive programs in the metaverse. Zuckerberg said the company would continue to offer services and hardwire to developers at low cost or for free, in an attempt to attract a critical mass of people to the platform. He also said Facebook plans to further explore NFTs and crypto to help facilitate media that can be represented digitally, and is working on gaming applications. Still, Zuckerberg said, Facebook rolled out two of its metaverse projects in beta last year: Horizon World, which allows users to invite friends over into their digital world, and Horizon Workrooms, which does the same in professional settings. Facebook CEO Mark Zuckerberg delivers the keynote address during a virtual event on 28 October.
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