Name game

The ostensible reason for the imminent change in nomenclature is the launch of “metaverse” — the pivot to virtual reality that will be integral to the future of Facebook Inc and, likely, the internet as a whole. In essence, Facebook sees virtual reality and more immersive experiences as the next step in its evolution. The company has already announced that it will hire around 10,000 high-end professionals in Europe to help create the platform of the future. Given this expansion, “Facebook” might be too limiting a name. Just as Google rechristened its holding company “Alphabet” as the range of its products expanded, Facebook too will want the parent company to represent more than a single — even if it is the flagship — product.

The needs of a futuristic metaverse aside, the fact is that, in all likelihood, the company does not want its expansion to be tainted by controversies it is currently mired in. The most recent revelations by whistleblower Frances Haugen show how little it cares for certain people, communities and markets. Perhaps, before expanding virtual reality — adding depth and scale to the addictions that its algorithms promote — it might do well to address the structural deficiencies in its amoral business model. If Facebook actually fixes all it has broken, perhaps it
wouldn’t need to change its name.