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Facebook CEO Mark Zuckerberg reveals his vision for the company's future

In the wake of renewed scrutiny of the company, Mark Zuckerberg, Facebook's cofounder and CEO, opened the first day of a major product event on Thursday by teasing a series of new social, gaming, and workplace concepts for the metaverse – while also acknowledging that focusing on such products in the face of renewed scrutiny of the company is not a good look.

"It is understandable that some will argue that now is not the time to look ahead, and I want to emphasize that there are important issues to address right now. There will always be a need for it "In a pre-keynote video, Zuckerberg stated his position. "I'm not sure there will ever be a good time for many people to think about the future as a result of this situation. However, I am well aware that many of you agree with my point of view."

"We live for the things that we're constructing," Zuckerberg said in his final statement. "And even when we make mistakes, we continue to learn, build, and make progress," says the author.

As part of its eighth annual Connect event, Facebook broadcasted live from San Francisco to demonstrate the company's latest innovations and research in the fields of augmented and virtual reality. The event also provided an update on Facebook's vision for the metaverse, which is a term that refers to efforts to combine virtual and augmented reality technologies in one new online platform.

For its demo, Facebook showed a series of concept videos illustrating its vision for the metaverse, including sending a virtual image of yourself to a concert and meeting up with a friend who is actually attending, sitting around virtual meeting tables with remote colleagues, and playing immersive games with friends.

As part of his keynote address, Zuckerberg announced the introduction of Messenger calling in virtual reality, plans to launch a virtual marketplace where developers can sell virtual goods, and a new home screen in Oculus Quest that is intended to make chatting and playing games in the virtual world more social.

According to him, "your devices will no longer be the focal point of your attention." "A number of these technologies are already coming together, and we will see even more convergence in the next five to ten years. This will become commonplace, and many of us will spend our days creating and inhabiting worlds that are as detailed and convincing as the one depicted here."

Aside from that, the company is expected to rebrand itself, as well as possibly change the title of cofounder Mark Zuckerberg, who will deliver the keynote address at the event. In the process, Facebook could be reduced to one of the company's three major platforms – along with Instagram and WhatsApp – rather than the company's overarching brand.

This move would be consistent with the company's mission to be known for more than just social media, as well as its growing emphasis on the metaverse, which are both expressed in the company's mission statement. According to The Verge, the first to break the news of the rumored name change was last week.

As part of an effort to rehabilitate Facebook's reputation and turn the page following a series of public relations nightmares, including misinformation on its platforms, content moderation failures, and revelation of the negative effects of its products on some users' mental health, a rebranding could also be part of an effort to rehabilitate Facebook's reputation and turn the page.

The concept of the metaverse was teased by Facebook CEO Mark Zuckerberg during an earnings call in July. The metaverse is described as a space similar to the internet in which users can walk around and interact with one another in real time using digital avatars. As he stated during a conference call with investors, "I anticipate that in the coming years, people will shift their focus away from us being primarily a social media company and toward us being a metaverse company."

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