Zuckerberg in Worst Crisis, Seeks Breakthrough by Deleting Facebook

Strengthening Metaverse Business Strategy Instead of SNS
Large-Scale Investment Also Announced
Strategic Choice Emerges Amid Biggest Crisis Since Founding
US Media: "Changing Company Name Won't Make a Difference"

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Baek Jong-min] On the 28th (local time), Facebook announced a name change and also replaced the signboard in front of its headquarters in Menlo Park, California, which had been symbolic, with the new company name Meta and a new logo resembling the infinity symbol.

Tourists visiting the site will no longer be able to take photos raising their thumbs up following Facebook's 'Like' logo. This move reflects the intention to close the first chapter of Facebook as a social media company.

Behind the new Meta logo, the name of Sun Microsystems, the company that created the Java language but later declined, still remains. After acquiring the Sun Microsystems building, Facebook left the former owner's logo as a symbol of not fearing change. The IT specialized media The Verge recalled that Time magazine in 2014 reported this as an example of what happens when a company takes its eyes off the ball even for a moment, evaluating Facebook's transformation.

The erasure of Facebook as a social networking service (SNS) is also evident on the homepage. On the Facebook information page, the name and logo of Facebook have disappeared, replaced by the new company name and logo.

[Image source=EPA Yonhap News]

On the same day, Facebook held the annual virtual reality (VR) and augmented reality (AR) event, the 'Connect Conference,' and announced metaverse-related businesses for 1 hour and 30 minutes.

Zuckerberg personally appeared in a video as his avatar to explain how the metaverse will be implemented and how it can be utilized. He expected that within the next 10 years, the metaverse would secure 1 billion users, generate commerce worth hundreds of billions of dollars, and create millions of jobs.

The Meta information homepage also features introductions to metaverse-related services and products such as AR, VR, and smart glasses. Meta emphasized that social will become the metaverse. It argued that social relationships will be formed not on the internet but within the metaverse, making Facebook's change of course a natural phenomenon.

Zuckerberg explained the reason for the name change, saying, "Facebook is one of the most used products in history and an iconic social media brand, but it does not encompass everything we do."

Zuckerberg also predicted bold investments. He said, "Building the foundational platform for the metaverse will be a long journey," and "We expect to spend billions of dollars over the next several years." He added, "I have thought a lot about our identity. Going forward, I want us to be seen as a metaverse company."

There are also negative views regarding Facebook's name change and business direction shift amid the company's biggest crisis since its founding due to insider whistleblowing. The Associated Press reported that companies in crisis have sought breakthroughs through name changes, but critics say there is no real change at Facebook. AP pointed out that changing the name does not solve Facebook's problems.

The New York Times also interpreted Facebook's name change as an attempt to escape controversy over allowing misinformation to spread on the internet for the company's benefit.

Zuckerberg expressed his determination to continue investing in the future despite the crisis, saying, "I know some people say now is not the time to focus on the future, but it is important to move forward even if mistakes are made."

This content was produced with the assistance of AI translation services.