Meta, formerly Facebook, was named the worst company of 2021 according to a survey by Yahoo Finance. Each year, Yahoo selects a “Company of the Year” based on its performance in the market and its accomplishments that year.
Meta: worst company of 2021
The open survey was carried out on Survey Monkey via Yahoo! The Finance home page for December 4-5 received 1,541 responses. According to Yahoo! Finance, 8% of the 1,541 readers who took the survey chose Meta as the worst company in 2021.
Yahoo notes that Facebook received 50% more votes than runner-up Alibaba, a Chinese e-commerce company. On the other hand, Microsoft was chosen as the best company of this year.
In October of this year, CEO Mark Zuckerberg announced the name change from Facebook to Meta. This was done in order to develop a platform for “Metaverse”, a new form of network that interacts using virtual reality and augmented reality.
Facebook and Meta have been through a lot this year. The company’s former product manager turned whistleblower, Frances Haugen, has made a few disclosures to the media. He revealed how Facebook’s policies have harmed the general public. The company has shown violent and explicit content to non-tech savvy users.
Other reasons for grievances against Facebook include Instagram’s impact on mental health and privacy. Additionally, the effects of Instagram on mental health and targeting young people are also of concern to respondents.
Can the company redeem itself?
Despite everything, the company still shows good results. In the survey, 30% of participants believe that it is possible that Facebook can redeem itself from its mistakes.
One respondent said Facebook could redeem itself by acknowledging and apologizing for what it has done and donating a significant amount of its profits to a foundation to help it right its wrongs. While some people saw the Meta rebranding as a cynical attempt to change the conversation, others were excited about the potential for a new direction that could a) be interesting and b) something different from the aging model of media. social. A significant number of responses focused on executives and founder and CEO Mark Zuckerberg.