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’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.