Is Facebook Becoming a Dying Brand?

 


No doubt that has to be the burning question within the minds of many, including Facebook's CEO Mark Zuckerberg.

 

His franchise was far ahead of other platforms such as MySpace (among many others).

 

Instagram became part of the Facebook empire later down the line.


Zuckerberg even made a bold migration into the world of VR, by introducing his newest brand called The Metaverse.

 

Although, many would argue that the Metaverse was "Dead On Arrival," which is largely thanks to popular gaming consoles.

 

But the current issues Facebook faces now is its relevance.


What I mean there, is that this once Social Media magnate, is losing its hold on the Social Media Market.


And that brings up three key aspects that could spell the end of Zuckerberg's brand.


#1 - Facebook's Questionable Tactics of Brand Expansion

 I mean, where can we start?


We know about the spying, the trolls roaming on the platform looking to enact social justice against just about any issue imaginable.

 

Yeah, those are trivial factors indeed. Although, they are considered to be lesser issues.


The greater focal point was how Facebook gathered enough influence to become a Social Media Monopoly.

 

So how did they gain so much influence in so little time?


It was because of digital theft.


Or better put, it was the stolen intellectual property that has been seized by Facebook for at least a decade.

 

This was one of the main concerns issues Facebook users were made aware of not too long ago.


What was revealed was that Facebook was responsible for harboring 533 million Facebook users' phone numbers and personal data.

 

Record breaking to say the least!


And that didn't sit well with a lot of the platform's users.


Zuckerberg himself was even summoned to a Congressional hearing.

 

While there, he was questioned about the privacy rights of its users.


Needless to say, he was on edge with his given answers. Answers that Congress wasn't buying!

 

They wanted him to answer for the following:


  • The confiscated phone numbers, full names, locations, email addresses, and biographical information.
  • How did cyber hackers get a hold of Facebook users' personal data? 
  • Was it sold to them on the black market, for the purpose of impersonating people and committing fraud in their name?
  • And were users' information being sold to international government entities in exchange for mass profit?

Let's face it, trading personal information is a financial generator.


And framing the innocent for online crimes committed unbeknownst them has been long overdone.

 

That alone is one of the greater stigmas Facebook will continue to face.


Over time it has cost them to lose millions of subscribers as an end result.


#2 - Zuckerberg's Brand Continues to Digress

Zuckerberg took progressive steps by adding marketable products to Facebook's expanding brand.

 

The VR Oculus generated a decent amount of revenue for Facebook so far.


Although, there were disappointed consumers that pointed out various faults with the Oculus units.

 

The Oculus VR headset was too bulky when worn by the user and made mobility nearly impossible when playing games.

 

The Oculus Go was supposedly a better option when it was rolled out to consumers.

 

Facebook did address the concerns by introducing the Oculus Go. It was a lower-cost investment consumers inherently welcomed. 

 

The Go was a wireless gadget, closely resembling a mid-sized handheld device situated within the virtual reality headgear.

 

And even though that may have hinted at a sign of moderate improvements to a revamped product. It STILL failed to deliver what was promised to Oculus users.

 

And what was the issue still left unaddressed?

 

It was the fact that the Oculus Go wasn't capable of running higher-end VR applications! 


As a result, users were denied the "six degrees of freedom" worldly type of VR mobility that Zuckerberg had initially promised.

 

Even so, continual improvements are expected to resolve the bothersome issues. 

 

There are also other VR upcoming adaptations to be integrated within the Metaverse. 

 

Project Cambria is Meta's current project (if they can iron out all of its bugs) and accompanying it later will be Project Nazare.

   

Project Cambria is arguably at the cutting edge of what's now achievable in wireless virtual reality. 

   

It's free of the cost limits that plagued prior Oculus headsets. 


The popular belief is that Project Cambria is set sometime this year.

 

The other project in the works, Nazare, is a rather different story.


This is said to be a long-extended project that will span throughout the 2020 decade.

   

Meta already has a plan for its AR services according to sources stated in an article at verge.com.

   

The future headgear, referred to as "Project Nazare" will be released in 2024.

    

A more sophisticated version will be released in 2026, followed by a third generation in 2028.


So, all of this is leaning heavily toward a decked-out VR/AR world.


And seemingly a world with no available space left for Facebook to exist within.


#3 - So was most of the Facebook data hoarding being used to create the Metaverse?

I believe so.


How else can you explain the sudden shift from a dying Facebook brand to the futurist Meta brand?

 

This harkens back to the situation surrounding Tesla, where now the CEO Elon Musk is in the process of revamping all of Twitter!

 

As a result, Tesla stocks took a massive plunge, and stock investors were left in shock because they didn't expect the sudden shift. 

 

Needless to say, Musk did state that there will be no more selling of Tesla stock now that he has Twitter.

  

And in a previous article I pointed out how he is now planning to use Twitter in the way he sees fit.

 

Although, it's quite the reverse for Zuckerberg.


I just think in his case, he had to have known Facebook will meet its end eventually.


And it's no doubt that day is rapidly approaching!



MySpace too faced the very same problem once Facebook took center stage within the social media Arena.

 

And nearly 20 years later, Meta is about to push Facebook aside like yesterday's garbage.

 

So, is Facebook on its last legs. Likely so... 


Maybe this is the reason why the Social Media magnate has been experiencing a number of financial downturns as of late. 

 

Users are probably searching for something new and fresh. 


That further indicates that Facebook is morphing into the new MySpace of this time now!

 

LOL.

  

That, of course, is just what I see...


And what I see ultimately is Meta emerging from the ashes of a now dinosaur Facebook plateau!


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