Fb, in any other case referred to as Meta, has been topped the worst firm of the yr, following a turbulent 12 months of controversies, public backlash, and an eventual complete rebrand of the social media big, in accordance with a survey carried out by Yahoo Finance.
Yahoo Finance yearly crowns the most effective firm of the yr, with Microsoft taking the highest spot for 2021. This yr, nevertheless, Yahoo Finance additionally did a “worst firm of the yr” problem, with Fb, now referred to as Meta, rapidly taking the highest spot. In response to the survey, which polled over 1,000 people, Fb acquired 50% extra votes for the spot in comparison with Alibaba, a Chinese language e-commerce platform.
These surveyed have a “litany of grievances” in the direction of Fb, together with however not restricted to issues over censorship, reviews about Instagram’s impression on psychological well being, and privateness. Whereas the survey outcomes are grim and never within the firm’s favor, 30% of the members responded positively as to whether Fb may “redeem itself.”
Fb, amid scandals, did rebrand itself to “Meta,” marking the beginning of a brand new route for the corporate, in accordance with its founder and CEO Mark Zuckerberg. The brand new identify is supposed to be extra in step with the objective of constructing a “Metaverse,” a completely digital world. The rebrand was extensively seen as an try and distract from scrutiny, and in accordance with some members within the survey, it labored.
One respondent stated Fb may redeem itself by acknowledging and apologizing for what it did and donating a “sizable quantity” of its earnings for a basis to assist reverse its hurt. Whereas some individuals noticed the Meta rebrand as a cynical try to vary the dialog… others have been excited by the potential of a brand new route that would a) be fascinating and b) one thing completely different from the getting old social media mannequin.
Fb has lengthy been embroiled in public issues over the privateness of its customers. Fb has notably fought with Apple over modifications in iOS and iPadOS that make it more durable for corporations to trace customers throughout different apps and web sites.
Fb has claimed the brand new change, App Monitoring Transparency, would harm small companies that depend on promoting to draw new prospects. Mark Zuckerberg has gone so far as to say that Fb’s lackluster progress within the final quarter of the yr was partly accountable on ATT (App Monitoring Transparency).
Apple CEO Tim Cook dinner has additionally not shied away from calling out Fb for its practices and enterprise mannequin. In a speech in the beginning of the yr, Cook dinner implied that Facebooks’s enterprise mannequin results in polarization and violence. A Meta spokesperson declined to reply to a remark from Yahoo Finance concerning the survey.