There have been many rumors in recent weeks about Facebook changing its brand name to Metaverse, and now some of these speculations have been proven to be true; Because the American company officially changed its name to Meta on Thursday, October 28, 2021 (November 6, 1400) during the annual Connect 2021 annual conference. Of course, the title of Facebook is still preserved for the social network of this holding and the meta is the name of the parent company that now owns Facebook, Instagram, WhatsApp and Oculus. In fact, like most of Facebook's strategic news, this renaming is the end point of a process that has been going on for years.
The Meta collection includes two sections: Family and Reality Labs, the first of which will include applications such as Facebook, Instagram and WhatsApp, and all related items. Augmented reality (AR) and virtual reality (VR) cover the latter. The company currently has more than 10,000 employees in Reality Labs, which works in augmented reality and virtual reality projects, which is almost double the total number of Twitter employees. This large number, which shows Zuckerberg's special attention to this field of technology, is rumored to soon be reinforced by the employment of tens of thousands of other employees in Europe. In addition, the American company recently announced its plans to invest $ 10 billion related to Metavars and buy virtual reality startups this year. A decision that shows the serious efforts of the company's managers to take over and dominate this field.
Zuckerberg describes Facebook's position and future plans:" We are a company that creates technology for connection [between people]. "[In this way] we can, together, eventually put people at the center of our technology and open up a larger productive economy." Finding groups and helping businesses grow. According to the company, when Facebook was founded in 2004, it changed the way people interacted and then made it possible for billions of people around the world to connect with apps like Messenger, Instagram and WhatsApp. Meta now looks beyond two-dimensional displays and seeks comprehensive, augmented reality and virtual experiences to usher in a new round of social technology evolution.
Prior to the announcement of the brand change, a number of questions were posed by analysts challenging the meta strategy. Among these, the first and most basic questions are about the nature of Metavars and its Facebook version.
Part of this question was partially answered at Thursday's conference. Mark Zuckerberg, in his portrayal of Metavars as a virtual world, spoke of the hardware aspects of virtual and augmented reality, and then referred to advanced physical sensors that allow people to play virtually, attend concerts virtually, and purchase virtual goods. , Socialize with others through virtual avatars as well as participate in virtual business meetings.
In this context, the first problem facing Zuckerberg is getting old. Social media participation and its weakness in attracting younger audiences compared to newer programs and networks such as TikTok, Snapshot and other attractive applications. Of course, the failure to attract young users has not yet caused financial damage to Facebook, but the company's advertising revenue has stagnated and there is ample evidence that the teen and young audience is declining, even on popular networks such as Instagram.
In fact, if the current trend continues, Facebook may turn into an epic color in the next few years, full of middle-aged youth, beautiful videos of animals, and political and partisan garbage. An image that is clearly not favorable to the company's management, and Zuckerberg has explicitly spoken of a youth-focused strategy and efforts to attract and retain young users.
Metavars seems to be able to help Facebook's audience crisis by encouraging young people to use the capabilities of the Horizon app and its subsidiaries using the Oculus virtual reality headset to compete with emerging apps like TikTok.>
Another problem that Metatars Strategy Facebook, if successful, can help solve it by reducing platform risk. Zuckerberg has been dissatisfied with running his apps on Android and iOS for years and is looking for a way to reduce dependence on the two ecosystems, with completely different priorities from Facebook. For example, changes related to Apple's "app tracking transparency" feature this year, which made it difficult to collect data on smartphone activity, have been detrimental to Facebook and its advertising business. Therefore, Facebook CEO believes that if the current path continues, his company will never be able to control its destiny properly and will always remain dependent on other platforms. Zuckerberg has been talking about the strategic benefits of Metawares since at least 2015, and has highlighted its importance as a key platform for implementing key plans and improving strategic positioning. Now, if a meta-based strategy works, it will eventually enable Facebook to drive users to the platforms it owns and break free from Apple and Google. This means that if Facebook wants to charge a user, for example, to sell clothing virtually within one of the Metavars apps, it can do so without paying 30% commission to the competitor; An issue that Zuckerberg indirectly raised at a virtual meeting on Thursday, criticizing Apple and Google, described the performance of the two tech giants as destroying innovation and the Internet economy.
Another difficulty for Facebook is facing regulatory risks. Of course, the company has not yet faced any serious issues in this regard, but the growing attention and sensitivity of regulators, by creating new laws to protect the privacy of users, has encouraged Zuckerberg to invest in new areas such as virtual reality and augmented reality. It is unlikely to be regulated in the near future. In addition, because many of Facebook's monitoring problems stem from the way programs are used for political debates, Metavars can allow corporate executives to build a kinder and gentler social world that is not yet surrounded by a flood of angry and extremist forces.
In addition to what other large companies are facing, Facebook has suffered a lot in recent years due to many mistakes and scandals. In recent years, all the activities of this social network and its affiliated programs, even if unrelated to the main business of the company, have become infected with a lot of words and sayings, and from this trend, the reputation and credibility of the Facebook brand has taken a downward path.
Of course, Zuckerberg, who is trying to present his new public figure (Persona) as a kind of "futurist", claims that he did not change his company name to escape the consequences of Facebook's problems. However, the Facebook brand seems to be grappling with real problems that have weakened the workforce and recruited and retained talented employees. Zuckerberg's performance in recent years has eliminated the possibility of collaborating with others, put advertisers at risk, and made Zuckerberg a not-so-popular figure in the world.
Pseudo-resolves, and most will probably never resolve; Rather, it may create new difficulties that Facebook would not have faced if it had spent the next few years solving current problems.
But even so, owning one is still beyond the reach of the average person. Because if this new ecosystem works, Zuckerberg will usher in a new era of market dominance, expanding Facebook's influence into entirely new forms of culture, communication and commerce by relying on virtual reality features. But if the project fails, it will cost nothing but to revive Facebook. However, both of these possibilities deserve special attention because of their potential consequences.