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Meta Needs to Change More Than Just Its Name

For the first time, all five of the U.S. tech giants are going to be competing directly—and it’s not clear Mark Zuckerburg can escape his past.

Facebook CEO Mark Zuckerberg speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, in New York, on Oct. 28.

Facebook CEO Mark Zuckerberg speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, in New York, on Oct. 28.

Photographer: Michael Nagle/Bloomberg

Mark Zuckerberg often says that, when he started Facebook in a Harvard dorm room, he could not have predicted the impact the social network would ultimately have. It was therefore inevitable, in his telling, that some mistakes would be made. And made they certainly were.

The company’s push into “the metaverse,” as Zuckerberg is dubbing his particular vision for augmented and virtual reality worlds, is therefore an opportunity for a do-over. Building a new product from scratch should let him fix the mistakes of Facebook 1.0.