Facebook / Meta Wins Worst Company of the Year in Yahoo Finance Poll

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It’s that time of year when you find out who’s been mean and who’s been nice. According to readers of Yahoo Finance, there is one company that is unmistakably at the top of the bad guy list: the company formerly known as Facebook. This development may surprise (It should not – Ed) to the social media company, which changed its name this year to Meta, apparently hoping to lose the reputation it has gained for engaging in shady behavior in order to increase profits at the expense of health mental people.

The survey conducted by Yahoo finance is an annual tradition, where it selects the best company of the year based on market performance and innovation, and also asks its readers who they think is the worst. Surprisingly, the best company was none other than Microsoft, which Yahoo said broke the $ 2 million market capitalization barrier and also saw its stock price rise 53% this year. Apparently, people haven’t paid much attention to its Edge browser shenanigans, as there have been enough of them in 2021 to add them to the villain list as well.

All that’s left is Facebook / Meta, which was voted a “winner” in the poll asking readers which company has upset them the most this year. The “worst company” poll received 1,541 votes in total, with Facebook / Meta receiving eight percent of the total votes. If that doesn’t sound like much to you, consider this: The social media company received 50% more votes as “worst” than second-place Chinese e-commerce giant Alibaba. Based on the votes cast, it appears there hasn’t been much ambiguity about which company has upset readers the most this year.

The reasons for this result are not hard to understand, as it was by far the worst year in Facebook history when it comes to its public perception. First there was a whistleblower who gave a wealth of internal documents to the Wall Street Journal and also testified before Congress to shed light on the company’s business practices. Former employee Frances Haugen has revealed a number of questionable practices, such as the platform’s algorithm being designed to promote content that divides as it increases engagement, and that the company targeted tweens because she saw them as “a valuable but untapped tool.” public.”

Haugen testified before the Senate Consumer Protection Committee on Tuesday. (Photo: Drew Angerer / Getty Images)

As if all that wasn’t enough, Haugen also revealed that the company lied to investors about its shrinking user base and is also trying to find ways to target children as young as six to compensate for the losses. teens leaving its platform for other social media applications. It also banned a developer who created a plugin that removed user news feeds to prevent endless scrolling doom, and shut down an internal research team that was studying social media addiction on its platform. form.

Given this background, it’s no surprise that after all of this was revealed, the company suddenly announced that it was changing its name to Meta, but even that was widely mocked as the reveal videos were too. hackneyed like squirrel droppings. We’ll have to find out in 2022 if Facebook / Meta will be able to change its public perception, but given the number of companies that have shown interest in the metaverse Zuckerberg wants to create, it’s not clear they’ll win. . this “price” again next year. And to be fair to Facebook / Meta, at least it doesn’t offer NFTs to Facebook and Instagram users yet.

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