The dorm room project turned multi-billion dollar company, Facebook owner Mark Zuckerberg introduces the world to the new Facebook as he announces that the social media center will now fall under the name of Meta Platform Inc. which rightly projects the metaverse company that Facebook intends to become. This change has raised some eyebrows as people compare the name change with the infamous change of Google to the company Alphabet.
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From Facebook to Meta
Facebook is an American multinational technological giant that started its journey as a social media site to interact with your friends and family. The company has been a huge success and stands as the top 5 leading technology companies with the likes of Microsoft and Apple.
On 28th October 2021, the owner of the company Mark Zuckerberg announced a new corporate name, Meta Platform Inc. The word “Meta” comes from the Greek origin that means “beyond” and represents the company’s futuristic approach as they move forward.
Mark’s idea is to steer the company’s format from the traditional social media company to a futuristic virtual world that helps the user see the world through computerized glass. Mark’s ideas are said to be way past the technological resources available in the day and the success of this new venture of his life is thus, still facing a lot of question marks.
Similarities Between Alphabet and Meta
Alphabet is another multinational technology conglomerate holding company created by restructuring the world-renowned company, Google. It became the parent company to Google and many of its subsidiaries. The idea was to invest Google’s profits in futuristic projects in collaboration with other companies.
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The journey of Meta somewhat resembles the path at which the Alphabet once rolled. The name change of the company that became a brand when it comes to social media sites, echoes the name change of the company that spoke volumes when it came to search engines.
Alphabet is yet to deliver “another Google” as promised along with its several other projects. Meta owner Zuckerberg also plans on building a metaverse, for which huge technological advancements are required. Alphabet’s claims to produce projects like self-driving cars and even the curing of death are still just claims. The approach of the Meta owner is, although, more focused but the ideas are way ahead of their time.
The Difference in Approach of Larry Page and Zuckerberg
When Google restructured and became part of the set of companies, named Alphabets, the CEO kept his job as CEO but handed the control of Google day to day operations to the Indian genius, Sundar Pichai. After that, Page disappeared from the spotlight and later on, gave complete control to Sundar. Nobody knows what he was working on and why he left the company.
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When asked, Zuckerberg said that he would not go into hiding as Page did and that he would face all the consequences and controversies that came in his way as he moved forward with this idea.
Financial Aspect
The biggest question that arises with the announcement is how much Mark Zuckerberg is willing to spend on his dream of building a metaverse. Talking about Alphabet, Google dissolved most of the Other Bets (futuristic projects based on Google’s income) and the segment has given a 1.29 billion dollar hit to the company.
The technology required for bringing the dream of the metaverse into the real world is at least 10 years ahead, as said by Zuckerberg himself. He says that he is willing to spend up to 10 billion dollars for the hiring of staff and the development of the technology.
The idea of changing sci-fi concepts into scientific reality is, although, not new but the Facebook owner appears dedicated enough. Is this the long-awaited future in the Virtual Reality world or just another company with blank claims?
