Things aren’t going so well for the platform of hate and envy. In the last 3 stock trading days, Meta stock has dropped nearly $100 a share, falling from $323 last Wednesday to $224.91 on Monday. They announced that they are losing people on the platform for the first time (that we have been told).
Now this from Captain Obvious:
The late October announcement from Mark Zuckerberg that Facebook was being rebranded as Meta has been met with less than stellar reactions from the public. A survey from Morning Consult indicates that the public opinion of the rebrand, the metaverse concept and Zuckerberg, himself, were largely unfavorable.
While a slight majority (55%) of the US adults surveyed have some level of favorable opinion of Facebook, fewer have a favorable opinion of the company’s rebrand name, Meta. Only one-quarter had favorable opinions of the Meta name, compared to the 4 in 10 who had a somewhat/very unfavorable opinion of the name. Millennials are most likely to express an unfavorable opinion about Meta, while Gen Z are more generous in their opinion of the name change.
The public’s opinion of Mark Zuckerberg is also far from positive. More than half (54%) of all respondents report that their opinion of Zuckerberg is somewhat/very unfavorable. This sentiment is felt most by Baby Boomers, with 62% having an unfavorable opinion, compared to just 16% with a favorable opinion.
Along with announcing the rebrand to Meta, Zuckerberg introduced the company’s concept of the metaverse — “a set of interconnected digital spaces that lets you do things you can’t do in the physical world. Importantly, it’ll be characterized by social presence, the feeling that you’re right there with another person, no matter where in the world you happen to be.” It’s safe to say the concept has fallen flat in the eyes of US adults. About 7 in 10 (68%) say they are not interested in the project. This point of view is shared across all demographic groups but articulated most by women (73%) and Baby Boomers (84%).
Source for the above
Turns out at least one major marketing expert agrees with what the plebeian public already knows — Mark Zuckerberg may not be able to pull off this Metaverse thing.
On a new new episode of Vox’s Pivot podcast with Kara Swisher, renowned NYU marketing professor Scott Galloway laid the cards on the table. While he gave Zuckerberg credit for being a “visionary” who’s doing the right things to try and pivot a sinking ship — aka Meta-formerly-known-as-Facebook, which is now losing active users for the first time ever — but he’s not convinced that its Metaverse is headed in the right direction.
“If he pulls it off, it’ll be one of the most impressive feats in — not even corporate renewal — but vision around maintaining growth,” Galloway said during the podcast. “I don’t think they’re going to. I think this thing is already a giant flaming bag of shit.”
Part of Zuckerberg’s problem, according to Galloway, is that Meta’s Quest headset, previously known as Oculus, is still way too clunky to impress Meta’s target audience.
“The people in this universe are not impressed with the universe he envisions, and specifically the portal,” Galloway said on the podcast. “One of my predictions in November of 2021… was that the biggest failure in tech-product history might be the Oculus.”
There’s also the issue of spending. Zuckerberg sank $10 billion into the Reality Labs division, only to see company stock prices dip by more than 20 percent this week. Galloway says that with public opinion of Meta so low, there’s little hope the company can recoup its investment.
I for one don’t celebrate failure, but I don’t like those who have ruined the lives of a lot of people, selectively censored what is morally right and have bought an administration who has trashed the country in a year.
Fake book can kiss my ass.
Get woke, go broke.