Janet Peischel's The Internet Marketer: Facebook reinvents itself, building virtual environment

Janet Peischel Mark Zuckerberg, Facebook’s bad boy, is now building the “metaverse,” a shared virtual environment that he believes will replace the mobile internet.“Zucks” apparently wearied of fighting with lawmakers and regulators, so he’s moving on. Facebook will start trading under its new stock ticker, MVRS, on Dec. 1. Support local news coverage and the people who report it by subscribing to the Napa Valley Register. Special offer: $5 for your first 5 months! Facebook’s been wildly successfulFB reports about 2.91B monthly users, and they’re capturing 71.8% of all social-media market share worldwide. Compare that with Twitter, at 8.7%. Revenue for 2020? $86B.Zucks leaves a scorched-earth legacyThink metascandals. His mishandling of user data (Cambridge Analytica from the 2016 presidential election), misinformation abuses for health information, violent rhetoric and hate speech, and using the platform for human trafficking.The U.S. Federal Trade Commission has filed an antitrust lawsuit alleging anticompetitive practices—Facebook is by far the largest social media company, owning Facebook, Instagram and WhatsApp.The plans to phase out the name “Facebook” indicate how eager it is to distance itself from ongoing scrutiny and scandal”, said Prashant Malaviya, a marketing professor at Georgetown University McDonough School of Business. “The Facebook name is damaged…
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