Ha ha ha, oh wow.
If you though Facebook rebranding as Meta was an odd turn, you’re not alone. As a matter of fact, it seems to have been a costly decision. Because since that rebranding 5 months back, the company has lost $500 billion.
Granted, not all of that is necessarily due to the rebranding (or the creepy metaverse); some is down to changes happening around them. Both Apple and Google have clamped down on the trackers Meta uses to offer you eerily accurate ads; then again, those same trackers had been a cause for some to stop using Meta’s platforms. There’s also the fact that its no longer the hip, technologically savvy new thing on the social media block. Younger people are using the likes of TikTok, leaving Facebook with a somewhat older, and shrinking, demographic.
As such, the Zucc saw fit to pivot the company in a new direction, hence the name change. Which also probably hasn’t really helped things. I’m sure pretty much everyone you know had something unflattering to say about that whole “Metaverse” thing. Which is understandable because, how do you go for a stylized approach and still land smack-dab in the middle of the uncanny valley?
Anyway, that’s a lot of money to lose over the course of 5 months. If you got even 1/100th of that, you’d probably still have “fuck you” money for the rest of your life, and probably for the lives of any successors. Who knows, maybe the course gets righted and the whole thing pays off in the long run. I wouldn’t hold my breath, but hope springs eternal, as the saying goes.
Source: PC Gamer
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