Mark Zuckerberg is sticking with his Meta rebrand—despite plummeting stock prices, massive layoffs, and deep skepticism. “I’ve known Mark for almost two decades and I’ve never seen him act so abruptly,” a former Facebook executive tells nickbilton.
Being exorbitantly rich, powerful, and famous affects people differently. In Hollywood, celebrities get implants and abdominoplasty surgeries and ribs removed so they can stay beautiful forever. In the fashion world, the more money and accolades a famed designer receives, the more their own sense of style resembles a clown at the circus. But the folks in Technoland do something entirely different.
For Zuckerberg, the decision to keep himself insulated from the rest of the world has cost him dearly. His troubles really started a year ago when he decided it was time to rebrand Facebook, which was approaching 18 years old, and he announced that he was now renaming the company Meta. Along with the name change, Zuckerberg said the company’s direction was going to morph too. “From now on, we will be metaverse first.
The problem is—as everyone surmised at the time and still does today—no one wants to live in the metaverse. They don’t want to go to meetings in a virtual coffee shop on the moon; they don’t want to go on dates dressed as a digital porcupine on a virtual beach with a pink ocean, and they don’t want to exercise in a virtual outdoor space with their friends who live down the block.
Since that announcement, it’s honestly staggering to see the impact this decision had on the company. In September of 2021, a few weeks before Zuckerberg announced the name and direction change of Facebook, the company was worth just over
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