Introduction
Who doesn’t know Facebook? The Meta Platforms, Inc. (formerly known as Facebook, Inc.) was claimed to be one of the most important institutions of the early 21st century, and one of the most valuable companies in the world. To aid in the development of the next generation of social technologies, Meta is now expanding beyond 2D displays to include immersive experiences such as augmented and virtual reality. Our future matters, so let’s start 2022 by discussing this company and how its growing ambitions will affect society.
Meta: The Old Facebook Jan 3rd
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Who doesn’t know Facebook? The Meta Platforms, Inc. (formerly known as Facebook, Inc.) was claimed to be one of the most important institutions of the early 21st century, and one of the most valuable companies in the world. To aid in the development of the next generation of social technologies, Meta is now expanding beyond 2D displays to include immersive experiences such as augmented and virtual reality. Our future matters, so let’s start 2022 by discussing this company and how its growing ambitions will affect society.
Mark Zuckerberg was just a Harvard sophomore when he launched the social network “TheFacebook.com” in February 2004. The goal was to connect students, those who joined up for the service were able to upload photos as well as personal information about themselves, such as class schedules and clubs they were a part of. The site is now known simply as Facebook.
Throughout the firm’s existence, it faced criticism regarding privacy issues, selling and failing to fully protect its users' data and the spread of fake news and accounts. Despite this, Facebook continues to dominate the social media market, the corporation has grown in value and swiftly become one of the most influential social media platforms.
Zuckerberg labeled Facebook "an iconic social media company," but today, it no longer "encompasses" everything the company does. The name of the flagship social network will not change but the company will. On October 28, at Connect 2021, an annual conference, the founder announced that it will be rebranded to "Meta," to align with its "metaverse" vision.
However, the name has been criticized too as it has various meanings, which may confuse traders and customers around the world. For instance, it means "goal" in Portuguese and Spanish, and "died" in Hebrew. According to Merriam-Webster, the origin of “metaverse” is when Neal Stephenson coined the term, and established a vision of a “computer-generated universe,” in his 1992 novel Snow Crash. These terms are the most recent buzzwords to get the attention of the tech industry.
Meta is bringing the metaverse to life because they believe that connection is evolving and so we are. According to Zuckerberg, the metaverse is a "virtual environment" that you can enter instead of just staring at on a screen. It's basically a universe of infinite, interconnected virtual communities where people can meet, work, and play utilizing virtual reality headsets, augmented reality glasses, smartphone apps, and other technologies.
Its history speaks to why it became a powerhouse company. Over the last 17 years, Meta has bought 78 other companies. Some of the top companies they acquired are Instagram, WhatsApp, Threadsy, Oculus VR, and LiveRail. Furthermore, the firm launched its own platforms which are Messenger, Workplace, Portal, and Novi.
Imagine a metaverse where you can enter a virtual mall using your avatar to try on clothes from actual clothing firms, and then buy the outfits that look best on your avatar (and thus on you) without leaving your house. More examples are attending a virtual concert, taking a virtual vacation, and viewing or creating artwork. These are some of the things we will be able to do in the metaverse and all of these will have an impact on our society, including entertainment, advertising, and the economy.