Worst Company of the Year, Facebook Disappoints Again

While some people think that changing the name of a company can bring many new opportunities and possibilities for growth, it can also bring a curse with itself. Since Facebook has changed their name from “Facebook” to “Meta”, things haven’t been going exactly the way Mark and his team would’ve wanted to.

Every year, many companies are voted and elected as “Best” or “Worst” companies on the basis of their performance. This tradition took place this year as well where Yahoo! Finance selected the “Company of the Year” along with which was the “Worst Company of the Year”. Well there was no surprise that Facebook was voted as the “Worst Company” as we’ve seen a lot of things that have happened with Facebook which has brought a question mark to the credibility of the company’s name. On the other hand Microsoft named as the best company of the year in 2021 by Yahoo Finance team.

Facebook has been consistently failing its users in keeping them interested, which has made many users to stop using the app. Moreover, people who are still using the app are not sharing posts as much as they used to. The drop rate of users from Facebook is about 13% since 2019 and the major reason is that the company isn’t bringing anything new for its users, that would keep them keen and would want them to use the app more often. The icing on the cake was that technical bug that appeared in the system which made the app inaccessible for its users and thus Facebook along with Instagram and Whatsapp went offline. This little bug cost Facebook about a 4.9% drop in its shares.

The App also received criticism from social media when they revealed that they were planning to bring a new app into the market, which was for kids under 13 years of age. While that idea was dropped by the company, it started to focus more into the right direction by bringing a parental function in Instagram for its user thus allowing the parents to monitor and limit their kids from spending unnecessary time on the app. That feature would allow them to restrict and limit their screen time and would allow the children to tell their parents when they report someone.

The company needs to try and come up with new strategies on how to attract more and more users towards itself because the only reason Facebook was a huge success in the first place was because it was unique and well we think it is safe to say that it has lost its “uniqueness” over the years. If they don’t improve their safety and privacy standards now, we won’t be surprised if Facebook would be announced as the “Worst Company of the Year” next year as well.

Read netx: Facebook’s Nick Cregg speaks what he thinks isn’t the best part about the company’s VR glasses
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