Talk Summary

5 things you must know about the @Facebook Meta re-branding and how it affects you!

00:00 Shilpi: Hello, everyone let me introduce all our participants from the DataEthics4All Leadership Council. Hi, Sam, hello Kevin, Susanna hey, hi, hello so today we are going to start a new series really excited about it, Ethics 1st LinkedIn Live talks and the first topic today is something on everyone’s mind, Facebook Meta – why did Facebook change the name to Meta and how does this affect us? 

That will be the conversation of today, please join us, we are able to take your comments Live here, so please join us and leave your comments we are Live on Facebook, YouTube, as well as LinkedIn, so send us your questions comments, feedback – we have a QR code to join our community on the right if you like what you see here, and you want to be a part of this discussion,  up, down here right now so my other right  [Laughter]  it gets mirrored so yeah please, take a look at that all right everyone ready panel is ready  [Laughter]

3:57 Shilpi: Yes so let’s start with the first question that is on everyone’s mind, what do you think of Facebook Meta and why do you think Facebook decided to change its name to Facebook Metaverse, all of a sudden?

5:17 Shilpi: Okay so, Kevin thinks it’s a marketing move,  Susanna what do you think?

5:22 Susanna: It is a marketing move, it is a business move and it is a legal move and it’s also a PR move – they just want to distance themselves from the product itself but it has other you know reasons behind the scenes,  Susanna, Sam what do you think?

5:40 Sam: Yeah I think it is it’s a move away from the criticism they’ve faced and it’s a bit of a distraction so it’s definitely a marketing move and they’re wanting to promote new products that they’ve invested in as an organization, so VR and AR and it’s engaging younger audiences as well. So I think it’s important, for them in this area.

6:04 Shilpi: So here’s what I think, that I agree with all of you – it is yes a PR move, yes it is a legal move, yes it is a marketing move,  yes it is some sort of distraction, which we will get into –  in our next question, but most of all I don’t think you can come up with something like this overnight – so this might be something that they, it must have been in the pipeline for a very long time

6:39 Shilpi: That they must have been thinking about doing something beyond just the social media platform and yes, they have always invested in like different projects but none of the projects have taken such strong limelight that you know we have heard about them

6:47 Shilpi: So we all remember and associate Facebook with its one social media platform and after you know it was started in 2006 and so it has come a long way and since then I think it’s time for the next version of not just the platform but also the company to evolve as a natural progression of where it should go, it came at a time when they may have felt like there is a need to speed up that process because of the fire and the data that they have been, more so now than ever and so I feel that this might have been in the pipeline but they expedited the timeline,  for the purpose that we all know and we’ll get into this next question as you know.

Shilpi: do you think it’s a diversion tactic, 

Sam? We will start with you

7:38 Sam: Yeah I think it is a diversion tactic Shilpi, yeah –  they, I think Facebook is starting to realize as well that they’re seeing a decline in a younger audience,  I think that’s also part of it on the Facebook platform and it’s just a way for them to continue to expand this market in this area and use the data that they’ve obviously collected on the platform, as well so yeah, partly

08:08 Shilpi: Yeah, absolutely Susanna?

08:13 Susanna: it is a diverse tactic, yes but you know I don’t think the people behind  Facebook are like you know idiots or anything they would actually know that when you bring up a blurry branding yeah

Susanna: re-branding at a time like this people are always going to jump on you and say, hey you are just trying to divert us from what we are doing here behind the scenes whatever is the illegal stuff we are trying to do

It’s a cover-up but they know that they know this could be a bad PR move but they still went ahead with it.

08:48 Susanna: So that tells me that it’s not just a diversion tactic, this was in the works for many years because, but from I think almost like five years ago the  younger audience started leaving  Facebook  and the older ones

Susanna: the more radical ones took over the platform  and we saw the effects of that the  impact of that during this election, so they knew that this was you know coming along the way they need to somehow appeal to the younger audience

Susanna: which was  moving to things that were more not real the filters on Instagram and all of that they liked that kind of stuff so now,  this was you know natural progression, so you know it’s it is a distraction,  you know diversion but that PR people do know that we will catch on that and we will you know bang on them in on them and say hey you’re trying to distract us  they knew that but they still went ahead with that

09:43 Shilpi: so yeah it was in the pipeline, yeah I mean Snapchat came up with these filters, and like if I look at today’s younger audience from our youth council and the youth that we work with we have had these discussions on Facebook disinformation and polarization in our town hall meetings and yes, they have clearly mentioned that you know they do like to have friends who constantly post something on social media

Shilpi: and they are looking for these, how beautiful I look and they are checking it constantly for their friends to say, oh this picture of you looks, makes you look so beautiful so it is such a negative kind of  connotation where you know we are looking for external validations

Shilpi: constantly, and our next generation is doing that and as you can see, as you told Susanna as you mentioned our kids are not on Facebook they don’t want to be there they are on Instagram and that’s the whole reason why Instagram and Snapchat and Tick Tok are the three main platforms or of the future generation and that’s one of the reasons why Facebook acquired Insta and who knows, wants to acquire others but and Whatsapp as well. So definitely it’s not something,  Kevin do you want to add something to this?

11:04 Kevin:  Yeah no I would just add to both I mean all of your points there that this was definitely a diversion tactic,  it honestly doesn’t make too much sense that Facebook would be the first one to the market, especially when it’s not a technology inherent or inherently technology company, it’s it was born as a social network and then it’s competing with Google, Microsoft even Amazon is more technology, I would say so if it’s the first one there’s definitely a reason why and to me honestly I think there was  never going to be a right time for them  to come out with it but it was always going to happen

11:44 Kevin: So for them, it’s also a very strategic move to be the first mover to the market, I think there was never really a good time but I think the best time is was today like that’s the mentality right yeah.

11:58 Shilpi: I mean we have seen more and more of these video games and all of these that our younger generation is so addicted to like the 360s and all these gaming stations and even online video games that they like to play what are some of you know biggest ones out there?

12:17 Kevin: Roblox it is….

12:18 Shilpi: come again?

12: 20 Kevin:  just, in my opinion, they are in Metaverse already because you can build games inside that game yeah, everyone’s heard of Roblox but that’s something that’s going on it’s like the Minecraft of a decade ago!

12:34 Shilpi: yeah Minecraft,  and yeah so it’s like I mean AR we are augmented reality and virtual reality somebody there’s some disturbance um AR and VR is such a bigger umbrella-like, you could fit anything under that umbrella right you can have banking experience as an AR experience you could be not just  playing sports or actual games but you could do real-life stuff, feed  somebody or do banking or buy something shopping

Shilpi: all of these could be gamified in their own way like personified and gamified as someone else

13:18 Shilpi: So it is a very big umbrella huge universe that they are moving into um and so if do you guys think that  Facebook by changing its name and they have made a claim that Facebook itself the platform will remain to be called  Facebook

Shilpi: do you think at some point they are going to fold Facebook and what will happen to our dataif they do what do you think about that?

13:45 Susanna: 100% sure that it will soon reincarnate itself into something else it may even be called Facebook or not  but you know because Facebook or Metaverse right now doesn’t have it has any legal liability to hold true to its word that it won’t hold Facebook away they can’t change that in any time  and fold it but I’m hundred percent sure  it will be folded into it into the Metaverse and  it will have a digital you know virtual reality component to it okay

Susanna: And the data will be used to create digital twins of all of us who will all you know those who are not knowledgeable enough will obtain and say yes to that and that’s what they are betting on!

14:35 Shilpi: I actually don’t know if you know this, I don’t know if this is an Indian theory or in our mythology, it just said that there are seven people identical to you in the whole world like at a given time.

There are seven identical people, I mean they may be different ages, they may be at different Geo locations

14:58 Shilpi: So if that was true then who knows this Metaverse will create not just twins we already have seven out there seven Susanna’s out there already so who knows!

What do you think about the re-branding and whether it would go away? Sam?

15:15 Sam:  I don’t I think Facebook will as a platform will not go away completely, I think there is still a market for Facebook and I think until obviously we know that legislation you know it gets put in place and we have legislation around data protection, more data protections the platform will be used, the data that Facebook has will  potentially then be migrated over to the  the mixed reality world of Metaverse, I  think there’s definitely going to be demand there but I do think we’ll stay for quite some time until Metaverse is you know is realized,  you know in this among its customers and I know also I also think that  there’s going to be companies  particularly you know we’ve mentioned  Microsoft we’ve mentioned gaming organizations, gaming companies, e-commerce platforms that might be  interested in working with Metaverse and  being part of it  that  will want to continue  you know utilizing the platform and also  moving over to Meta as well so the data will still be the data will  still be there, um so yeah I don’t think it will yet

16:33 Shilpi: I agree with you I think see at least a few of our previous generations like our parents right and our grandparents as well as our generation I think is still on the platform.

So it still makes sense until we die at least you know there is some truth to that some validity in that platform and it may still be there they may evolve they will definitely evolve.

Shilpi: I do think yeah whether they change the name or the look and feel of the GUI or the UX or whatever that may look like it they may change the features are always added and removed but yeah it will stay.

Shilpi: But one thing that Facebook has not openly said and is not doing today openly like actually selling data of customers

Shilpi: Yeah they do that through their apps or you can integrate with their APIs or their play store whatever, that may be like you can indirectly make use of the marketing that ad targeting,  right

Facebook is sitting on a gold mine of data and of all of the customers of like a billion people of the world customers out of the seven we have one billion or two billion people whose customers

Shilpi: Even ghost profiles they even have ghost profiles of people who are not even on Facebook, even my grandmother might be on some kind of profile of my grandmother might be on Facebook, right?

17:55 Shilpi: So  they might be able to then actually chop and chunk that data and sell it off to like different vendors for different purposes  before they so, I’m sure they’re really going to milk it completely before they decide to shut it down so yeah

Shilpi: yeah it’s not going to be soon and like you said until Metaverse really takes off it’s not going to happen, they’re still making a lot of money from ad targeting and showing ads and doing all sorts of posts and things which they will continue to do

Shilpi: I just hope that they use it better you know they tweak their algorithm for everything that they have been under the fire they tweak their  algorithm and for the better protect their customers and do right by them 

 Shilpi: so that brings us to the next question where you know the new Metaverse promises to have everything and it may have everything who knows what, all it will have like from shopping to virtual reality games and we talked about all of this, so is it, will it be like a parallel universe like we are living in this real-life universe but will it be like a  parallel universe, where you know it’s it’s a virtual world and all the family and friends that I’m connected to today on Facebook, will they automatically be connected because as you all know one of the biggest pain points in adopting a new platform is building this network from scratch right you literally whether it is signals or  Whatsapp or whatever maybe you have to literally manually either bring your contacts or slowly like Linkedin when we all started we know how that was like we it was hard to even get  500 people to be connected to right?

19:40 Shilpi: So it is a painstaking process to really get on that bandwagon, so is Facebook going to help us with that like I, are all my friends and family members automatically going to be on Metaverse, or what do you think?

19:56 Sam:  Yeah I think you  will be able to do all those things, you will be able to shop, you’ll be able to socialize with your  friends as you would on the platform now  but  in VR and it would possible  for you  to invite your family or friends to join you, I think, and you’ll potentially then  be able to invite your network,  I don’t think you’ll need to build your network up again from you know from the beginning um but we don’t know that yet so for me my opinion I think you  might have that option

20:30 Shilpi: yeah exactly yeah we will exactly,  all right Kevin do you want to what are you doing?

20:38 Kevin: Okay so there’s a big  technology barrier though I mean I’m hoping that in the future everyone can figure out the Metaverse one day but I still would say that some people might not have that access

Kevin: maybe it’ll be even as simple as not having access to the internet right? Something new but then that is also solving itself in the future I guess, but yeah I would say technology is key and also interest yeah I know that as an introvert I would love it if it would help me socialize better because that is one of my biggest weaknesses I would say that’s I mean that’s one way that  Linkedin has helped me tremendously over the past few years is connecting with people, right it’s so easy to just connect with someone and not look like a complete creep,  but I’m very curious to know what it’ll be like on the Metaverse when you just go up to someone and add them as a  friend, or and I’m guessing on the Metaverse you can go up to someone’s house and like knock on their door, now  I don’t know like I’m very curious to know how this will work, maybe it’ll be less awkward to knock on a stranger’s house and like for that stranger to even invite you inside because it’s the Metaverse what could go wrong right? Like I’m really curious to know how that  would be

21:53 Shilpi: yeah what do you think Susanna?

21:57 Susanna: absolutely I think I know it’s easy adoption from Facebook’s point of view it’s easy adoption. So one billion users on Facebook alone  and then you have  Insta and then you  know what’s up you know they could  easily you know I have with the adopt the platform to you know

Susanna: incorporate the  people who are already there it’s not  like you have to now sign up it’s your  entire network is already there just you know make up your own avatar world and  your digital world  and that is what they are betting on

Susanna: I believe I don’t think they would be creating another separate one and saying you now have to add one migrate everything I don’t think so I  think it will be easy migration and  that’s what they are betting on

22:40 Shilpi:  Yeah and I agree with all of you, yeah, I mean  that would be the simplest choice like  one click of a button do you want to  import all bring invite all your friends  and family like your entire network to  Metaverse and you just say yes without  even reading the 40-page document as to  what they’re going to do and how they’re  going to use that and yes like yes okay,  I want to meet my mom here I want to  meet my best friend here and there  you go there you have it right my  brother my sister or my children

23:13 Susanna:  especially you know the older population like my parents you know they wouldn’t even know what that means, yes and their age group every one of their friends it’s its kind of you know good for them in a  way they will be able to connect and talk but you know I still like just last week ago my dad you know clicked on an Amazon 27 year anniversary coupon or something and forwarded it to everyone and it was a  scam, oh and he forwarded to all of his contacts and I had to now go and clean out his account to reset the password and do that and he knows none of that and this is what’s going to be happening. So you asked you know will you have we have all your friends in the Metaverse, not Susanna she won’t come there you won’t come back

24:06 Shilpi: Facebook you better watch out the  Susanna’s of the world are not going to  be on your platform  you better have an alternative tactic to  bring them on, so I actually feel I  agree with you it will either be the  really elderly generation or it would be  the really younger generation who will  be you know kind of sucked into this  world sooner,  I think the younger will be the first to adopt it and with them, they will bring like the  Tick Tok, the Tick Tok users will  be the first users to probably adopt Meta, I mean who knows time will tell,  right this is speculation but I think because they are already gaming in other  worlds and other platforms to them this  will  feel like the natural first choice of  adoption  and it would be good to see their  friends there

24:59 Shilpi: So they will be, they will  adopt it and then we’ll see if they would want to invite their parents there  and then network there and then we’ll  find out  all right we I mean we could go on and  on

25:11 Shilpi: I’m going to end with one last question um do you think Metaverse will follow better data privacy as well as algorithmic guidelines and try to do right by their users protect the users

Put users above profits and everything that has come under the fire what is your opinion, what do you think? Are they going to change are they going to do right by their people?

25:38 Susanna:  No,  no

25:44 Sam: I am not confident

25:46 Kevin: Unless they become a nonprofit out of nowhere, it’s impossible for them to do that, they know that you know they’ll get money at the expense of people’s lives right? And that’s what  they’re they’re kind of doing I think  they’re exploiting people even further  by doing this because now you have to give even more information than you had  to before

26:06 Kevin: I mean one of the things I’m very curious about and concerned about is the verification process because to Susanna’s point if she decides to stay at home and not come on the Metaverse like stay in her actual real home and not the Metaverse

Kevin: What stops somebody else

from posing as her?

26:26 Kevin: Yeah,  I mean they might have, I mean maybe a  really close friend of hers has all of  her information there’s like basic high-level personal details they can pretend  to be her right,  yes but I’m guessing  there will be a verification process,  that’s even more strict than it is right now,  that’ll require you to have things like  you know um your fingerprints

26:44 Shilpi: yeah like SSN and  you know all these personal  identifications

26: 49 Sam & Susanna: Biometric data, Biometrics, right yeah,  yeah. Yeah to get the blue tick check on Twitter and Facebook, you have to give your blue social security number

27:59 Shilpi: Yeah, yeah you have to give a lot of data away yes

27:04 Kevin: And I believe that’s what the  verification process will be like it has  to be strict right to prevent this from  happening

27:10 Shilpi: So basically what I’m hearing  is that in a parallel universe which is  all virtual there will  there will be facts to check that we are  a real person and all our personal data  will be we will have to give away to get  that

27: 28 Sam: yeah,  yeah that is captured as well yeah, that’s true yeah

27:30 Shilpi: Oh my goodness. So we are entering a really really very perspective world where you know, who knows what’s going to happen, do you think ever the virtual and the real-life worlds are going to merge together?

27:44 Susanna:  I mean I don’t think that’s a  futuristic question they already have right, yeah and they already have on our social media platforms and already our you know virtual and you know real are emerged to create an expert

28:00 Shilpi: to this extent where this…

28:07 Sam: there is a there’s this completely different world where we can just transition, yeah. I do think there’s going to be a role for augmented reality in VR in our lives and but I don’t think there’ll be a full transition to it in my lifetime, I don’t think I don’t know what you guys think? I think they’ll be here

28:26 Shilpi:  I think if anything we should roll back, dial it back to like becoming more authentic and more real in life

Like, first of all, I disagree with what Kevin  is saying he’s not an introvert, I don’t  consider him an introvert  but of course, that’s what he thinks of  himself and it is true like so many  people have so many friends on social media and they make me they receive like such a popular personality or a person and in real life, it’s hard for them to  go up and even hi to a stranger or even  talk to someone right and so it’s like we live in this  world where social media seems to be  uh,  to be guiding our life like it seems to  be more popular and so if anything I think we need to  dial back and become more authentic, more real, like stop virtual handshakes and forget about the virtual reality world all together go out and i

Shilpi: If Covid taught us anything  it’s like you know say hello to your  neighbor go in person and you never know when you will be stuck inside your home  for two years right,  that’s all happened

29:32 Shilpi: So for those kinds of things yes  AR/VR is good but until that is not there  we better start enjoying the life that  we have been given

29: 49 Kevin: I think my perspective is probably it  might contradict all of yours but  I see a world where with all these  things happening and maybe I mean  hopefully god forbid another Covid  breakout, um, I  see a world especially  with climate change  um  where we might not even have the luxury  of stepping out anymore,  yeah I mean we’ve all seen the  apocalyptic movies and those things  right and we’ve all seen black mirror  and now we have the Metaverse, so  what’s to say that we don’t live a  post-apocalyptic

30: 12 Shilpi: yeah if we go on Mars and we have to do this. I agree that  that that would be a good way to save ourselves to enjoy life without feeling  like we’ve lost everything and  other than that if no forwards nothing  happens then I think we should go out  and enjoy real meeting real people and  enjoy the real shopping experience

30:37 Kevin; we should start by meeting each other first

30:41 Susanna: and to you know before we end it  I just want to say something you know  introverts are the smartest most  creative  people and they are not intro  as a thing is not a bad thing at all it  is a normal part of who you are and that  is from a high functioning introvert  myself  so you know it’s not a bad thing

31:02 Shilpi: this might be a discussion for next time so what defines an introvert because I  don’t see you both as those that you define yourselves, uh so I think that this calls for a very interesting discussion for next time join us and we’ll find out what an introvert is all right everyone thanks you for joining in and uh don’t forget to uh scan the QR code and join us,  I’m not even going to try this okay  Kevin has got it, yeah right oh Susanna oh all of you got it okay, all right!

31: 38 Shilpi: So well then take care, uh thanks for tuning in, take care bye!  DataEthics4All Ethics 1st live LinkedIn talks, bye everyone,  bye!