Meta: Can rebranding help Facebook repair damage, capture consumers?

 Mark Zuckerberg revealed a new name and logo for Facebook rooted in the social-networking giant's ambition to develop a digital world

It’s “Meta.” After a week of intense speculation, Mark Zuckerberg revealed a new name and logo for Facebook rooted in the social-networking giant’s ambition to develop a digital world that would replace the current version of the internet.

The metaverse Zuckerberg envisions will be a place where consumers can play, socialize and even run a business, all within a computer-generated virtual environment.

In one way, the name is apt. At the end of his virtual keynote, Zuckerberg noted how he was inspired by the origin of the term “meta,” which comes from the Greek word meaning “beyond.” To him, it suggests there is “always more to build.” Judging from his presentation, that would be an accurate assessment of Facebook’s progress thus far.

Zuckerberg didn’t offer much in terms of tangible software or hardware developments. Yes, there was confirmation Facebook was working on a new, more advanced virtual-reality headset and an augmented-reality device, but we already knew that. Instead, we were left to imagine a new digital universe, in which avatars of ourselves and friends and co-workers mingle seamlessly thanks to still-to-be-developed technology.

The timing for the rebrand is, of course, convenient. After whistle-blower Frances Haugen’s credible testimony before the Senate about Facebook’s harmful effects, there is more unity and momentum in Congress to rein in the tech giant. The name change certainly could help get negative coverage out of the headlines for a few days. But as a diversionary tactic, it’s unlikely to work for long.