This year(2021), Facebook changed its name to Meta and announced to the world about The Metaverse. Ever since that its facing new controversies (In the past, it was about privacy and many others) like Metaverse should be Decentralized, Facebook shouldn’t work on Metaverse, etc. Do you think switching the company’s name would turn how people see the company?
Unfortunately for Meta (former Facebook), it’s a big NO as the yahoo finance audience survey found that meta is the worst company of the year.
Every year in December, yahoo finance selects a ‘Company of the Year’ based on its market performance and its accomplishments that particular year. Microsoft won the award shattering through a $2 trillion market cap this year and catching a 53% surge in its stock price as of Dec.
According to yahoo finance, their survey’s 1,541 respondents were not happy about a lot this year. From the Robinhood (HOOD) freezes last winter to electric truck company Nikola still not having its act together. But one company annoyed them the most — Facebook. The survey’s results clarified why the company decided to rename this year to a new name: Meta.
People really showed their allegations this year on the survey. They were unhappy, claiming it had been under antitrust, Congress was constantly demanding answers, and Facebook disregarded safety issues for the sake of growth. Other critics claim Facebook allows the spread of misinformation.
These allegations weren’t the only highlight of facebook (Meta); the interesting fact was about to come. It got 50% more votes than the second-place, Chinese e-commerce giant Alibaba, not for one particular violation but for an invocation of resentments from crowds of people that may have little else to agree about.
This raises a question, Can the company redeem itself again?
According to Yahoo Finance, 30% of people said Meta (formerly Facebook) could redeem itself. One participant said Facebook could save itself by apologizing for what it did and donating a “good amount” of its profits for a foundation to help reverse its damage. While some people said that Facebook changed its name to vary the conversation, others were excited by Meta’s new direction for the future.
You can guess who was the center of the focus, as seen on yahoo finance; Facebook CEO Mark Zuckerberg was pointed many times. Zuckerberg has undoubtedly been on the dark side of gossip lately, not being the privacy and safety lover as such. It could bail itself out for the angry investors in the survey to grow its stock price. Fortunately for them, they’re already reinventing the company.
They can overcome all these allegations and problems if they provide what the people and tech enthusiasts want. Yes, I am talking about the Decentralized version of the Metaverse, and they have to solve the disputes that have been going on currently.
So what do you think? Do they deserve the worst company of the year award? Comment down below.