New Facebook faces same challenges as Alphabet as two companies attempt to turn science fiction into reality
Dormitory project turned into a multibillion dollar business, Facebook owner Mark Zuckerberg presents to the world new facebook as he announces that the social media center will now be called Meta Platform Inc. which rightly projects the metaverse company that Facebook intends to become. This change has raised eyebrows as people compare the name change with Google’s infamous change to the Alphabet company.
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From Facebook to Meta
Facebook is an American multinational tech 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 ranks in the top 5 tech companies along with Microsoft and Apple.
The 28e October 2021, company owner Mark Zuckerberg announced a new corporate name, Meta Platform Inc. The word “Meta” comes from the Greek origin which means “beyond” and represents the company’s futuristic approach to as it advances.
Mark’s idea is to take the business 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 would be far beyond the technological resources available at the time, and the success of this new venture in his life therefore still faces many question marks.
Similarities Between Alphabet and Meta
Alphabet is another multinational technology conglomerate holding company created by the restructuring of world-famous Google company. It became the parent company of Google and several of its subsidiaries. The idea was to invest the profits of Google in futuristic projects in collaboration with other companies.
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Meta’s journey is a bit like the path the Alphabet once rode. The rebranding of the company that has become a brand when it comes to social media sites, echoes the rebranding of the company that spoke volumes about search engines.
Alphabet has yet to deliver “another Google” as promised with its several other projects. Meta owner Zuckerberg also plans to build a Metaverse, for which huge technological advancements are needed. Alphabet’s claims to produce projects like self-driving cars and even death cures are still just claims. The Meta owner’s approach is, albeit 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 Corporate Package, named Alphabets, the CEO retained his position as CEO but handed control of Google’s day-to-day operations to Indian genius Sundar Pichai. After that, Page disappeared from the limelight and later, gave full control to Sundar. No one knows what he was working on and why he left the company.
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When asked, Zuckerberg said he would not go into hiding like Page did and that he would face all the consequences and controversies that would come his way as he went from there. ‘forward with this idea.
The biggest question with the announcement is how much Mark Zuckerberg is willing to spend on his dream of building a metaverse. Speaking of Alphabet, Google disbanded most of the Other Bets (futuristic projects based on Google’s revenue) and the segment gave the company a $ 1.29 billion blow.
The technology required to bring the metaverse dream to the real world is at least 10 years ahead of the game, as Zuckerberg himself said. He says he’s willing to spend up to $ 10 billion on hiring staff and developing technology.
The idea of ââturning sci-fi concepts into science reality isn’t new, but the Facebook owner seems dedicated enough. Is this the long-awaited future in the world of virtual reality or just another business with empty claims?