SAN FRANCISCO, Oct 29 ― Facebook changed its parent company name to “Meta” yesterday as the tech giant tries to move past being a scandal-plagued social network to its virtual reality vision for the future.
“We've learned a lot from struggling with social issues and living under closed platforms, and now it is time to take everything that we've learned and help build the next chapter,” CEO Mark Zuckerberg said during an annual developers conference. “Their meaningless name change should not distract from the investigation, regulation and real, independent oversight needed to hold Facebook accountable,” the group said in a statement.
The company told AFP it issued on Tuesday to employees a “legal hold,” which is an instruction to preserve documents and communications because it faces inquiries from authorities.report last month suggested that Facebook's interest in a metaverse virtual world is “part of a broader push to rehabilitate the company's reputation with policymakers and reposition Facebook to shape the regulation of next-wave internet technologies.
The company noted during Zuckerberg's presentation “a dozen major technological breakthroughs to get to the next generation metaverse.”