Most of the people around our age, teenagers at least, do not own Facebook. I am sure a lot of our parents do, which is okay. Different social media networks work for people, and it is hard to jump from one app to the next. However, this classic social media application is changing its name to Meta. Here is all you need to know. 

This name change is short for Metaverse. What is a metaverse, you may ask? Well, it is an online virtual platform in which people can interact with each other. It’s basically a “cool” way of saying social media. The company also plans to change their stock market ticker name to MVRS. 

The reasoning behind this is still unsure, but many people speculate that it could be because of several failures, including private information leaking, public relation failures, and the overall negative connotation that people think of with social media. Many people already know that social media may cause damaging effects on people, but Meta is looking to turn this around with new and innovative ideas. 

Mark Zuckerberg, the president/CEO of the company, also changed the name to show the innovation that Facebook can bring to the table. Being an older social media, they want to innovate it to make it seem new, young, and appealing to all people, which is ultimately an economic strategy, an innovative one at that. Facebook also owns WhatsApp and Instagram. However, these companies have proven to be more popular among younger teenagers and adults than the middle-aged people that use Facebook. 

Now, don’t get me wrong, everybody uses social media for different reasons. Social media can be for business purposes and professional impressions, but the trends among users of these social media apps show a difference. 

Zuckerberg also said that he wants this “new chapter” of Facebook to represent all of the possibilities that they could bring to the table. They don’t want to be known with the negative connotation of social media, rather a network that unites and brings people together through technology. 

Virtual reality is also becoming more of a, well, reality. The meeting regarding the finalization of the idea this past week was through virtual reality. As Meta continues to grow, a lot of new things can happen. We will have to see whether changes will be coming to other social media platforms with this push. Have a great day!

Sources:

https://www.cnn.com/2021/10/28/tech/facebook-mark-zuckerberg-keynote-announcements/index.html