Facebook is rebranding everything but faces the same old problems

This week, the company continued with its rebranding campaign. The News Feed, for years the centerpiece of the Facebook user experience and also central to some of its controversies, was Meta’ (But perhaps the biggest potential problem for Meta to emerge this week was an Building out its VR efforts might help. Indeed, Meta’s and Zuckerberg’s focus on the company’s metaverse ambitions may be an acknowledgment of the fact that its existing business is in trouble, Luria said. He noted that Zuckerberg’s updates this week may be a way of communicating, both inside the company and externally, “the importance and timeliness of this pivot.”Meta is working to develop its own tech ecosystem that users will be able to access with its own Quest headsets and where it can run its own app stores, without being at the whim of companies like Apple and Google. The problem: the metaverse, and broad adoption of its related technologies by consumers and advertisers, is still years away, so that solution is unlikely to turn Meta’s fortunes around anytime soon. “In the meantime,” Luria said, “if their core business is slowing down and will possibly start declining at some point, that will break Facebook’s long streak of fast growth that they’ve had… since they’ve gone public.”CNN’s Brian Fung contributed to this report.