[ met-uh ]
Meta comes from the Greek prefix and preposition meta, which means “after” or “beyond.” When combined with words in English, meta- often signifies “change” or “alteration” as in the words metamorphic or metabolic.
In a battle of the bigger billionaire, the business world has been enamored by Jeff Bezos and Elon Musk lately. Mark Zuckerberg, who has seen a fair share of negative press recently, wanted to enlighten everyone that he's still making moves. The CEO has launched the official rebrand of Facebook, under the new name "Meta", a new and exciting frontier for the company.
Zuck stated that the name Facebook doesn't encompass what the company does now. Overtime, Facebook has transformed into a conglomerate, and quite frankly a "metaverse company". The new goal of the platform will be to bring the metaverse to life and help people connect, find communities and grow businesses. They aren't just a social media company anymore, hence the announcement. This isn't the first time they've made the switch. Back in 2005, the original named dawned for the early social media platform was "MyFacebook".
The metaverse still has the common goal of what Facebook intended originally, that goal of connectivity. They are investing at least $10 billion this year on it's metaverse division. In a world of lockdowns and the pandemic, Facebook served as a tool of connectivity when induvial couldn't' see their loved ones. Meta is taking that further through their Reality Labs. The goal of this virtual reality is to be the next internet. They want to give people the tools to feel connected anytime, anywhere. This software will allow people to reconnect like social media, but on a more personable interactive level.
Their kickoff video showcased building extravagant homes, friends playing games together, choosing different clothes, socializing in the real world and the metaverse between facetimes, and sharing virtual artworks to all. Essentially a real life Sims. Is this what networking and socializing will look like in the future?
To be honest, this seems quite dangerous. Creating false realities and removing physical touch is not my cup of tea. The concept however, makes sense, truly connecting people together through virtual experiences rather than superficial posts and photos.
In the release video, an interesting tidbit was when Zuckerberg mentioned "glasses" and talking about connectivity beyond the screens and apps. The future will be "beyond anything we can imagine". With TikTok surging and the world of influencers and marketing has pivoted away from Facebook, this move is their next step in capturing the market and getting up to pace with 2021 and beyond.
This rebrand comes at an odd time, a coincidently odd time filled recent headlines of whistleblowers, outages, and senate hearings. $FB is up nearly 3% today after the news, despite being down close to 9% for the month. 75% of analysts say to buy, as the price will seem to make a Q4 push to close out the year. By December 1st, the new stock ticker will be $MVRS. They also shared that this new announcement does not affect how we use or share data.”
Chart: Google Finance