Facebook’s rebranding as Meta has been seen by many as the company’s latest attempt at corporate crisis control. The social media giant has been publicly attacked for creating an environment that fosters far-right extremism and violating individuals’ data privacy.
Yet it also represents an attempt to rebrand the growing power of tech monopolies to shape all areas of our lives through social expansion. It points to a troubling new era of “metacapitalism“—or “capitalism on steroids” as Forbes called it in 2000. It reflects a disturbing trend of massively expanding tech conglomerates and the dangerous privatization of technological knowledge.
Rebranding tech monopolies