Meta, previously known as Facebook, has been through some tough situations in the last six months. Following Frances Haugen´s revelations the company came under tight scrutiny from Congress, other governmental committees around the world, as well as parents. In October last year the company made its massive bet on what it foresaw as the future of entertainment and possibly life itself: the metaverse and clearly its own central role in this new world, hence the change of name. As this article in the Guardian newspaper argues “regulatory concerns, technological setbacks, and branding troubles, the company’s path into the metaverse is not without its roadblocks”. But with a decline in number of young users – losing out to TikTok – as well as pulling back from high profile ventures like Diem (its cryptocurrency venture, formerly known as Libra), the future does not look great for the company, which recently also had $230bn wiped off its market value. Perhaps this change in fortune might force the company to change its pursuit of profits over privacy and come up with a less damaging strategy for the sake of the mental health of users, in particular young girls. One can but hope…
#facebook #mentalhealth
https://www.theguardian.com/technology/2022/feb/13/meta-facebook-metaverse-zuckerberg-future