Ethics 1st??: #1 Facebook Meta Rebranding and How it affects You

Hello Everyone,

I'm super excited to bring you this new LinkedIn Newsletter called Ethics 1st?? - with the intention of providing food for thought and spur conversations for Leaders with an Ethics 1st Mindset; those who put People above Profits.

In this first newsletter, we'll explore what's top of mind for everyone...

Facebook Meta Rebranding – why did Facebook change the name to meta?and how does this affect us?

In our Ethics 1st?? Live a couple of weeks back, the DataEthics4All Leadership Team discussed this topic and here are some insights from that talk.

Shilpi: Yes so let’s start with the first question that is on everyone’s mind, what do you think of Facebook Meta and why do you think Facebook decided to change its name to Facebook Metaverse,?all of a sudden?

Kevin: I would say honestly to me this was a?really strong marketing move from Facebook, what I’m thinking right now: Meta is just a kind of byproduct of the actual product, which is Metaverse, a product that doesn’t exist yet but, I’m sure the competition won’t be too far behind, in fact just a couple of hours ago, Microsoft came up with its own announcement for its Metaverse.??

Kevin: So, in my opinion it’s similar to the television a few decades ago and if a company were to name their product the e.g. Telly,?so it’s a really strong marketing move, it’s gonna gain them a lot of brand love which they desperately need, especially after the event from a few weeks ago.

Shilpi: Okay so, Kevin thinks it’s a marketing move, Susanna what do you think??

Susanna: It is a marketing move, it is a business move and it is a legal move and it’s also a PR move – they just want to distance themselves from the product itself but it has other you know reasons behind the scenes,?Suzanna, Sam what do you think??

Sam: Yeah I think it’s a move away from the the criticism they’ve faced and it’s a bit of a distraction so it’s definitely a marketing move and they’re?wanting to promote new products that they’ve invested in as an organization, so VR and AR and it’s engaging younger audiences as well . So I think it’s important, for them in this area.

Shilpi: So here’s what I think, that I agree with all of you – it is yes a PR move, yes it is a legal move, yes it is a marketing move,?yes it is some sort of distraction, which we will get into – in our next question,?but most of all I don’t think you can come up with something like this overnight – so this might be something that must have been in the pipeline for a very long time. About doing something beyond just the social media platform

Shilpi: So we all remember and associate Facebook with its one social media platform and after you know it was started in 2006 and so it has come a long way and since then I think it’s time for the?next version of not just the the platform but also the company to evolve as a natural progression of where it should go, it came at a time when they may have felt like there is a need to speed up that process because of the fire and the radar that they have been more so now than ever and so I feel that this might have been in the pipeline but they expedited the timeline, for the purpose that we all know.

Shilpi: Is this meant to be a diversion tactic?

Sam: yeah I think it is a diversion tactic Shilpi, yeah – I think Facebook is starting to realize as well that they’re seeing a decline in a younger audience, I think that’s also part of it on the Facebook platform and it’s just a way for them to continue to expand this market in this area and use the data that they’ve obviously collected on the platform, as well so yeah, partly

Shilpi: yeah, absolutely Susanna

Susanna: it is a diverse tactic yes but you know I don’t think the people behind?Facebook are like you know idiots or anything they would actually know?that when you bring up a blurry branding?yeah re-branding at a time like this?people are always going to jump on you?and say hey you are just trying to divert us from what we are doing here behind the scenes whatever is the illegal stuff we are trying to do it’s a cover-up?but they know that they know this could?be a bad pr move but they still went?ahead with it.

Susanna: So that tells me that it’s?just not a diversion tactic this was in?the works for many years?because but from?almost five years ago the?younger audience started leaving?Facebook?and the older ones and the more radical?ones took over the platform?and we saw the effects of that the?impact of that during this election so?they knew that this was coming along the way they need to somehow?appeal to the younger audience which was?moving to things that were more?not real?the filters on Instagram and all of that?they liked that kind of stuff so now,?this was you know natural progression so?you know it’s a it is a distraction you know diverse synthetic but that pr?people do know that?we will we will catch on that and we?will you know bang on them and?say hey you’re trying to distract us?they knew that but they still went ahead?with that.

Shilpi: so yeah it was in the pipeline. I mean Snapchat came up with these?filters and if I look at today’s?younger audience?from our youth council and the youth?that we work with we have had these?discussions on Facebook disinformation?and polarization in our town hall?meetings at DataEthics4All and yes they have clearly?mentioned that you know they do have friends who constantly post something on social media platforms?and they are looking for these external validations.

I?didn’t how beautiful i look and they are?checking it constantly for their friends?to say oh this picture of you makes you look so beautiful so?it is such a negative kind of?connotation where you know we are?looking for external validations constantly and our next generation?is doing that and as Suzanna mentioned?our kids are not on facebook they don’t?want to be there, they are on Instagram?and that’s the whole reason why Instagram and Snapchat and Tik Tock are?the three main platforms or of the?future generation and that’s one of the?reasons why Facebook acquired Instagram?and Whatsapp.

So?definitely it’s not something,?Kevin do you want to add something to?this?

Kevin:?yeah no I would just add to both I mean?all of your points there that this was definitely a diversion tactic,?it honestly doesn’t make too much sense that Facebook would be the first?one to the market, especially when?it’s not a technology inherent or?inherently technology company, it’s it?was born as a social network?and then it’s it’s competing with Google, Microsoft even Amazon is more technology, I would say so if it’s the first one?there there’s definitely a reason why and to me honestly I think there was?never going to be a right time for them?to come out with it but it was always?going to happen.?

Kevin: So for them it’s also a?very strategic move to be the first?mover to the market, I think?there was never really a good time but I?think the best time is was today like?that’s the mentality right yeah and I?mean?we have seen more and more of these?video games and all of these that our?younger generation is so addicted to?like the?360s and and all these gaming stations?and even online video games that they?like to play.?In my opinion Metaverse already?because you can build games inside that?game. It’s like the Minecraft of a decade ago yeah Minecraft and yeah so it’s like I mean AR we are augmented reality and?virtual reality?somebody?there’s some disturbance?AR and VR is such a bigger umbrella like, you?could fit anything under that umbrella?right you can have banking experience as?an AR experience you could be not just?playing sports or actual games but you could do real life stuff feed?somebody or do banking or buy something?shopping?all of these could be gamified in their?own way like personified and gamified as?someone else.?

Susanna: So it is a very big?umbrella huge universe that they are?moving themselves into and so Facebook?by changing its name and they have?made a claim that Facebook itself the?platform will remain to be called?Facebook do you think at some point they?are going to fold Facebook?and?what will happen to our data if they do?

I do think and I'm 100% sure that it will soon?reincarnate itself into something else?it may not even be called Facebook and the data will be used?to create digital twins of all of us.

Shilpi: In Indian mythology it is said that?there are 7?people?identical to you in the whole world at any given time

Shilpi: So if that was true then who knows this?Metaverse will create not just twins we?already have seven out there?seven Susanna’s out there already so who?knows.

Shilpi: Do you think that the Facebook Social Media Platform would go away?

Sam: I don’t Facebook will as a platform will go away completely, I think there is still a?market for Facebook and?I?think until we?have legislation around data to protect?the platform will be used, the data that Facebook has will?potentially be migrated over to the?the mixed reality world of Metaverse, I?think there’s definitely?going to be demand there but i do think Facebook will stay for quite some time until Metaverse is well known?among its customers.

Shilpi: I think that our parents and our grandparents?as well as our generation I think are?still on the Facebook Social Media platform but not our next generation. So it makes?sense at least until we die to keep the Facebook platform and still evolve it to meet the new needs.

I do?think whether they change the name?or the look and feel: the GUI or the?UX, Facebook may change the features, they've always?added and removed but it will stay.

Shilpi: One thing that Facebook?has not openly said that it's actually selling data?of it's customers today directly. Yes, they do that through?their apps or you can integrate with?their APIs or their App store and Ad Targeting, but not direct selling and buying of Customer Data.

Facebook is sitting on a gold mine of?data and of all of the customers of like?a billion people of the world customers?out of the seven billion people whose?customers even ghost profiles they even?have ghost profiles of people who are?not even on Facebook even my?grandmother might be on some kind of?profile on?Facebook.

Shilpi: So?they might be able to?then actually chop and chunk that data and?sell it off to like different vendors?for different purposes before they shut it down completely. I’m sure they’re really going to milk this data?completely before they?decide to shut it down if ever.

It’s not going to be?soon and until Metaverse?really takes off?it’s not going to happen!!

Shilpi: Facebook is still?making a lot of money from ad targeting?and showing ads and and doing all sorts?of posts and things which they will?continue to do, I just hope that they they tweak their?algorithm for everything that they have?been under the fire and do right by their customers.

Shilpi: Metaverse?promises to have everything from shopping to virtual reality games. So?will it will be like a parallel?universe where the virtual world and?all the family and friends that i’m?connected with today on Facebook will be?automatically connected?

Shilpi: We all know one of the biggest pain?points in adopting a new platform is?building a network from scratch: whether it is Signals or?Whatsapp. We all remember how hard it was to get connected to 500 people on LinkedIn, right?

Shilpi: So?are?all my friends and family members?on Facebook automatically going to be on Metaverse? What do you think?

Sam:?yeah I think you?will be able to do all those things, you will be able to shop, you’ll be able to socialize with your?friends as you would on the platform now?but?in VR,?it would be possible?for you?to invite your family or friends to join you, I think, and you’ll potentially then?be able to invite your network,?I don’t think you’ll need to build your?network up again from scratch but we don’t know that yet.

Shilpi: What do you think Kevin?

Kevin: okay so there’s a big?technology barrier. I mean?I’m hoping that in the future everyone?can can figure out the Metaverse one day?but as an introvert I would?love it if it would help me socialize?better?because that is one of my biggest weaknesses I would say.?

I mean that’s one way that?LinkedIn has helped me tremendously over?the past few years is connecting with?people. It’s so easy to just?connect with someone and and not look?like a complete creep?but?I’m very curious to know what?it’ll be like on the Metaverse when you?just go up to someone and add them as a?friend or?and I’m guessing on the Metaverse you?can go up to someone’s house and like?knock on their door. Now?I don’t know how this will work?

Kevin: Maybe it’ll be less awkward to knock on?a stranger’s house and like for that?stranger to even invite you inside?because it’s the Metaverse what could go?wrong, right?

Shilpi: yeah?what do you think Susanna?

Susanna: absolutely I think I know it’s easy?adoption from Facebook’s point of view. So one billion users?on Facebook alone?and then you have Instagram and then you?know WhatsApp they could?easily have platform adoption.

It’s not?like you have to now sign up. Your?entire network is already there. You?just have to make up your own avatar world and?your digital world?and that is what they are betting on.

I?believe I don’t think they would be?creating another separate one?and saying you now have to add one?migrate everything i don’t think so I?think it will be easy migration and?that’s what they are betting on.?

Shilpi:?Yeah and I agree with all of you yeah, I mean?that would be the simplest choice like?one click of a button do you want to?import all? Bring, invite all your friends?and family like your entire network to?Metaverse and you just say yes without?even reading the 40 page document as to how your Data will be used!!

Susanna: You say, yes, I want to meet my mom here. I want to?meet my best friend here and there?you go. There you have it!! My?brother, my sister and?my children?especially you know the older population?like my parents they wouldn’t?even know what that means?yes?and their their age group every one of?their friends it’s kind of you know good for them in a?way they will be able to connect and?talk but you know I still?like just last week ago my dad you know?clicked on an Amazon 27th year?anniversary coupon or something and?forwarded it to everyone and it was a?scam oh and he?he forwarded to all of his contacts and?I had to go and clean out his?account to reset the password and do?that and he knows none of that and this?is what’s going to be?happen.?

Shilpi: I’m going to end with one last?question:

Do you think Metaverse will?follow better data privacy as well as?algorithmic guidelines?and try to do right by their users??Protect their users,?put?users above profits and everything that?it has come under the fire for?

Susanna:?no,?no?it’s impossible for them to do that?they know that you know they’ll get money at the expense of?people’s lives right and that’s what?they’re kind of doing I think?they’re exploiting people even further?by doing this because now you have to give even more information than you had?to before.?

Kevin: I mean?one of the things I’m very curious about and concerned about is the verification?process because to Susanna’s point if?she decides to stay at home and not come?on the Metaverse like stay in her actual?real home and now the Metaverse, what stops somebody else from?posing as her?

Kevin: yeah?I mean they might be a?really close friend of hers has all of?her information there’s like basic high?level personal details they can pretend?to be her right?

I’m guessing?there will be a verification process?that’s even more strict than it is right?now?that’ll require you to have things like?you know um?your fingerprint or?you know all these personal?identifications?

Shilpi: Right, yeah?and I believe that’s what the?verification process will be like it has?to be strict to prevent this from?happening so basically what I’m hearing?is that in a parallel universe which is?all virtual there will?facts to check that we are?a real person and we will have to give away all our personal data?for this verification purpose.

Shilpi: Do you?think there will be a time when the?virtual and the real-life worlds are?going to merge together??

I don’t think that this is a?futuristic question. These social media giants already have?so much data on each of us.

Sam: I do?think there’s going to be a role for?argumentative reality in VR in our lives?and but I don’t think there’ll be a full?transition to it?in my lifetime, I don’t think I don’t?know what do you guys think?

Shilpi: I think if anything we should dial back on our digital lives and become more?authentic in real life?first. If Covid has taught us anything,?it’s to go out and say hello to your?neighbor. Go in person and not virtually. You never know?when you'll be stuck inside your home?for two years!!

Shilpi: Yes?AR/ VR is good but we better start enjoying the life that?we have been given.

Shilpi: Take care, thanks for taking the time to read this. Please leave your views and questions in the comments below.

Wishing you a very Happy Thanksgiving with friends and family!!