Facebook rehashed itself to Meta recently just to distract or perhaps make people forget about its controversies. But the social media company still couldn’t make it to good books this year. As per a recent survey by Yahoo Finance, Meta has been entitled the ‘worst company of 2021.’ Also Read - Twitter finally makes Communities available on Android
Why did Meta (aka Facebook) get the worst company title of the year?
Yahoo Finance crowns the best company of the year every year. But there’s the worst company of the year title as well, and this year Facebook managed to get max number of votes. The survey took 1,000 samples and Mark Zuckerberg’s company earned 50 percent more votes compared to another infamous Chinese e-commerce platform, Alibaba. Also Read - You can share your WhatsApp Status updates on other apps, here’s how
“But one company irked them the most — Facebook (FB). The survey’s results shed more light on why the company decided to rebrand this year to a new name: Meta Platforms. The open-ended survey was posted on Yahoo Finance on Dec. 4 and Dec. 5, and dozens of names were submitted. Facebook received 8% of the write-in vote,” the Yahoo Finance report mentioned. Also Read - Google, Facebook CEOs accused of colluding to dominate ad market
The reason for such appreciation goes to concern over censorship, Facebook’s sister site Instagram’s direct impact on young people’s mental health, and privacy. The report cited how Instagram made teenage girls feel worse about themselves, but Facebook didn’t address the problem. There was criticism on the political front as well, with the company being blamed for the ‘rise of far-right extremism,’ and conservative voices pointing ‘free-speech police,’ to be unfair.
However, 30 percent of the voters were optimistic about the social network and responded positively to whether Facebook could ‘redeem itself.’
“One respondent said Facebook could redeem itself by acknowledging and apologizing for what it did and donating a “sizable amount” of its profits for a foundation to help reverse its harm. While some people saw the Meta rebrand as a cynical attempt to change the conversation, following Don Draper’s advice in scandal, others were excited by the potential of a new direction that could a) be interesting and b) something different from the aging social media model,” the report cited.
While Facebook has been severely criticized over several privacy and safety issues, acknowledging it might drop some of the charges (at least in the public eye), but the company doesn’t seem to be bothered or likely occupied in breaking the code for the metaverse.