NEWS COMMENTARY

Meta for Metaverse: Facebook rebrands to take a wild shot at disrupting itself – and reset its negative reputation

Published:
October 29, 2021
Last Updated:
October 29, 2021
Services:
Chemicals More...
Priorities:
“Better-for-You” Transformation More...
Activities:
Strategy
Very important

Facing declining growth for core products, as well as a stream of scandals and bad press, Mark Zuckerberg is prepared to bet the farm on his vision for the metaverse, aiming to build a next-generation platform before others can disrupt his current one. Consumer AR glasses are far from mature and VR has gained limited traction, but the firm has already commited to spending tens of billions on these and other metaverse technologies. Despite its evident advantages – starting with the cash flows that can fuel such massive investment – Facebook's marred reputation around privacy and social impact may also make it uniquely poorly suited to entice consumers to entrust it with ever-deeper engagement in high-potential virtual economies.

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