According to a survey conducted by Yahoo Finance, social
media giant Facebook, now known by the name Meta, has been titled as the worst
company of the year.
This is the first time that Yahoo Finance has done its
research on the worst company of the year as previously, it only announced the
best company of the year. The survey responses were obtained from over 1000 people,
majority of whom voted for Facebook as the worst company, followed by Alibaba.
While most people had critical views about Facebook, 30% of the people still had positive views about the company, suggesting that it could redeem itself.
Facebook started receiving backlash over its privacy policy
and has been involved in fights with Apple over changes in iOS and iPadOS that
make the process of app tracking difficult. Mark Zuckerberg even mentioned that
a major reason for the company’s slow growth in the last quarter of the year was
ATT (App Tracking Transparency).
Facebook’s recent move towards rebranding itself is one indicator
that the company is manifesting a new start. Facebook is creating an entire digital
world in itself, the Metaverse, while also using the rebranding strategy to
divert itself from the scrutiny that it has been receiving over some time now. Some
people also viewed Facebook’s strategy as a cynical attempt to change the
conversation about its privacy-related malpractices.
