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Thursday, May 23, 2024

Meta burdened by 6 of its own decisions, loses 19.5 lakh crores

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This year proved to be full of difficulties for the tech-giant Meta, which owns Facebook, and the reason behind which was the company’s own decisions. Meta considers social media rival TikTok as a threat for the future, and reckoning with the same, made certain strategies. Whether it was doubling the recommendation content on Instagram, or trying to create the Metaverse, 6 of the company’s own decisions proved to be nightmares.

Firstly, in February, Meta faced a loss of 237 billion dollars, which is 19.5 lakh crore rupees in one night, which is the highest loss in the USA in a day. Even after this, the company continued to work on the model aimed at satisfying the company’s co-founder, Mark Zuckerberg, and put in more money in the Metaverse version. Second, In June, after working for 14 years, CEO Sheryl Sandberg resigned from the company, she was such a top female officer in the male-dominated sector, who had turned Meta into a company earning profits from the advertisement business. After she quit, there was no one to stop Zuckerberg from putting in money for Metaverse.

Third, the company doubled the recommended content on Instagram in order to defeat TikTok in the race, and it was expected that the app’s use will increase, but Instagram users started perceiving this as TikTok’s copy. Fourth, In August, Meta introduced the AI chatbot. Blender Bot 3, whose objective was to move forward with a broader approach in diversity. But on 6th January, it was proved to be anti-Semitic.

Fifth, with the will to develop the Metaverse, Facebook’s name was changed to Meta, and in August, began with the Horizon Worlds, in which the portion below the torso was absent in the avatars, and Worlds had to face the users’ opposition. Lastly, Zuckerberg then introduced legs to the users’ avatars in Horizon, and for some time, the performance remained fine, after which a video editor revealed that Meta made this possible with motion capture technique, which resulted in the failure of the demo.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

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