Facebook Rebrands Company by Changing Name to Meta

Facebook Rebrands Company by Changing Name to Meta
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Facebook Rebrands Company by Changing Name to Meta

Facebook Rebrands Company by Changing Name to Meta

Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta in an effort to encompass its virtual-reality vision for the future — what Zuckerberg calls the “metaverse.”

Skeptics point out that it also appears to be an attempt to change the subject from the Facebook Papers, a leaked document trove so dubbed by a consortium of news organizations that include The Associated Press.

Many of these documents, first described by former Facebook employee-turned-whistleblower Frances Haugen, have revealed how Facebook ignored or downplayed internal warnings of the negative and often harmful consequences its algorithms wreaked across the world.

Facebook the app, along with Instagram, WhatsApp and Messenger, are here to stay; none will be changing their names. The company’s corporate structure also won’t change. But on Dec. 1, its shares will start trading under a new ticker symbol, “MVRS.”

“Facebook is the world’s social media platform and they are being accused of creating something that is harmful to people and society,” said marketing consultant Laura Ries. She compared the name Meta to when BP rebranded to “Beyond Petroleum” to escape criticism that it harmed the environment. “They can’t walk away from the social network with a new corporate name and talk of a future metaverse.”

What is the metaverse? Think of it as the internet brought to life, or at least rendered in 3D. Zuckerberg has described it as a “virtual environment” you can go inside of — instead of just looking at on a screen, AFP reported.

Essentially, it’s a world of endless, interconnected virtual communities where people can meet, work and play, using virtual reality headsets, augmented reality glasses, smartphone apps or other devices.

It also will incorporate other aspects of online life such as shopping and social media, according to Victoria Petrock, an analyst who follows emerging technologies.

Other tech companies such as Microsoft, chipmaker Nvidia and Fortnite maker Epic Games have all been outlining their own visions of how the metaverse will work.

“That’s cool,” said Richard Kerris, vice president of Nvidia’s Omniverse platform, after being told by a reporter of Facebook’s name change. “We think there’s going to be lots of companies building virtual worlds and environments in the metaverse, in the same way there’s being lots of companies doing things on the World Wide Web.”

Zuckerberg says he expects the metaverse to reach a billion people within the next decade. It will be a place where people will be able to interact, work and create products and content in what he hopes will be a new ecosystem that creates millions of jobs for creators.

'Peddler of disinformation'

The announcement comes amid an existential crisis for Facebook. It faces heightened legislative and regulatory scrutiny in many parts of the world following revelations in the Facebook Papers.

Some of Facebook’s biggest critics seemed unimpressed. The Real Facebook Oversight Board, a watchdog group focused on the company, announced that it will keep its own name.

“Changing their name doesn’t change reality: Facebook is destroying our democracy and is the world’s leading peddler of disinformation and hate," the group said in a statement. "Their meaningless name change should not distract from the investigation, regulation and real, independent oversight needed to hold Facebook accountable.”

In explaining the rebrand, Zuckerberg said the name “Facebook” just doesn't encompass everything the company does any more. In addition to its primary social network, that now includes Instagram, Messenger, its Quest VR headset, its Horizon VR platform and more.

“Today we are seen as a social media company,” Zuckerberg said. “But in our DNA we are a company that builds technology to connect people.”

A corporate rebranding won’t solve the myriad problems at Facebook revealed by thousands of internal documents in recent weeks. It probably won’t even get people to stop calling the social media giant Facebook — or a “social media giant,” for that matter.

But that isn’t stopping Zuckerberg, seemingly eager to move on to his next big thing as crisis after crisis emerges at the company he created.

While largely dismissing revelations from the the Facebook Papers as unfair criticism, Zuckerberg has focused on building a virtual environment you can go inside of instead of just looking at on a screen.

Just as smartphones replaced desktop computers, Zuckerberg is betting that the metaverse will be the next way people will interact with computers — and each other. If Instagram and messaging were Facebook’s forays into the mobile evolution, Meta is its bet on the metaverse. And what’s better than a name change to show how serious he is?

A metaverse-focused fund, the Roundhill Ball Metaverse ETF, already started trading on the New York Stock Exchange using the ticker symbol META earlier this year, which may have forced Facebook to choose MVRS instead.

“I think my phone is melting,” its creator, metaverse enthusiast Matthew Ball, tweeted Thursday after Zuckerberg’s announcement. He said in an interview that he welcomed Facebook’s metaverse vision, noting the company was already one of the highest-rated stocks in his index.

“It doesn’t bother me at all,” he said.



Justice at Stake as Generative AI Enters the Courtroom

Generative artificial intelligence has been used in the US legal system by judges performing research, lawyers filing appeals and parties involved in cases who wanted help expressing themselves in court. Jefferson Siegel / POOL/AFP
Generative artificial intelligence has been used in the US legal system by judges performing research, lawyers filing appeals and parties involved in cases who wanted help expressing themselves in court. Jefferson Siegel / POOL/AFP
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Justice at Stake as Generative AI Enters the Courtroom

Generative artificial intelligence has been used in the US legal system by judges performing research, lawyers filing appeals and parties involved in cases who wanted help expressing themselves in court. Jefferson Siegel / POOL/AFP
Generative artificial intelligence has been used in the US legal system by judges performing research, lawyers filing appeals and parties involved in cases who wanted help expressing themselves in court. Jefferson Siegel / POOL/AFP

Generative artificial intelligence (GenAI) is making its way into courts despite early stumbles, raising questions about how it will influence the legal system and justice itself.

Judges use the technology for research, lawyers utilize it for appeals and parties involved in cases have relied on GenAI to help express themselves in court.

"It's probably used more than people expect," said Daniel Linna, a professor at the Northwestern Pritzker School of Law, about GenAI in the US legal system.

"Judges don't necessarily raise their hand and talk about this to a whole room of judges, but I have people who come to me afterward and say they are experimenting with it”.

In one prominent instance, GenAI enabled murder victim Chris Pelkey to address an Arizona courtroom -- in the form of a video avatar -- at the sentencing of the man convicted of shooting him dead in 2021 during a clash between motorists.

"I believe in forgiveness," said a digital proxy of Pelkey created by his sister, Stacey Wales.

The judge voiced appreciation for the avatar, saying it seemed authentic.

"I knew it would be powerful," Wales told , "that that it would humanize Chris in the eyes of the judge."

The AI testimony, a first of its kind, ended the sentencing hearing at which Wales and other members of the slain man's family spoke about the impact of the loss.

Since the hearing, examples of GenAI being used in US legal cases have multiplied.

"It is a helpful tool and it is time-saving, as long as the accuracy is confirmed," said attorney Stephen Schwartz, who practices in the northeastern state of Maine.

"Overall, it's a positive development in jurisprudence."

Schwartz described using ChatGPT as well as GenAI legal assistants, such as LexisNexis Protege and CoCounsel from Thomson Reuters, for researching case law and other tasks.

"You can't completely rely on it," Schwartz cautioned, recommending that cases proffered by GenAI be read to ensure accuracy.

"We are all aware of a horror story where AI comes up with mixed-up case things."

The technology has been the culprit behind false legal citations, far-fetched case precedents, and flat-out fabrications.

In early May, a federal judge in Los Angeles imposed $31,100 in fines and damages on two law firms for an error-riddled petition drafted with the help of GenAI, blasting it as a "collective debacle."

The tech is also being relied on by some who skip lawyers and represent themselves in court, often causing legal errors.

And as GenAI makes it easier and cheaper to draft legal complaints, courts already overburdened by caseloads could see them climb higher, said Shay Cleary of the National Center for State Courts.

"Courts need to be prepared to handle that," Cleary said.

Transformation

Law professor Linna sees the potential for GenAI to be part of the solution though, giving more people the ability to seek justice in courts made more efficient.

"We have a huge number of people who don't have access to legal services," Linna said.

"These tools can be transformative; of course we need to be thoughtful about how we integrate them."

Federal judges in the US capitol have written decisions noting their use of ChatGPT in laying out their opinions.

"Judges need to be technologically up-to-date and trained in AI," Linna said.

GenAI assistants already have the potential to influence the outcome of cases the same way a human law clerk might, reasoned the professor.

Facts or case law pointed out by GenAI might sway a judge's decision, and could be different than what a legal clerk would have come up with.

But if GenAI lives up to its potential and excels at finding the best information for judges to consider, that could make for well-grounded rulings less likely to be overturned on appeal, according to Linna.