Critics say Meta focused on growth at the expense of safeguarding people's data as the number of users on its 'family' of apps climbed into the billions. — AFPFacebook boss Mark Zuckerberg rang the opening bell remotely to cheers 10 years ago as the beloved social network made its stock market debut, culminating an all-night hackathon that included street hockey, costumes and music.
"At the time it went public, Facebook was considered to be young, edgy and connecting people," Creative Strategies analyst Carolina Milanesi told AFP. The company tapped into information about people's online activities to become a digital advertising behemoth, raking in billions of dollars. The social network was caught up in scandal anew two years later after it was revealed that British consulting firm Cambridge Analytica stealthily harvested data of millions at Facebook and used it for political purposes, including trying to rally support for Trump.
That misstep is seen as part of the reason Zuckerberg is pouring billions of dollars into leading the way into the metaverse. Meta investors, though, are concerned about the time and money it will take for Zuckerberg to fulfil his metaverse dream."I don't think they want to be the social media of the metaverse," Milanesi said.
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