Facebook’s name change is not enough to fix its reputation | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Facebook’s name change is not enough to fix its reputation

Is Mark Zuckerberg hitting the panic button by changing Facebook’s name, as is widely expected? Probably. Will it work? Depends.

Facebook is building a “metaverse”—a term coined by sci-fi novelist Neal Stephenson, referring to a virtual world people escape to from a dystopian, real world. The Silicon Valley giant is hiring more than 10,000 people in Europe to realize this vision of an online reality where people can meet, play games, work, and more.

As it designs this ecosystem beyond social media, Facebook wants a new name that captures its growing ambitions, the Verge reported last week.

What is the point of a name change? The company has a lot going on, after all. A whistleblower, Frances Haugen, leaked a trove of documents to news organizations and even spoke to UK lawmakers, exposing policies and internal debates—from anti-competitive practices to user privacy concerns, and apparent lack of care towards young female users to its nefarious role in elections—Zuckerberg would rather keep a lid on. Meanwhile, earnings were unexpectedly good in the third quarter, and revenues were unexpectedly insipid.