Facebook rebranding to meta is like an interesting kind of moment because it actually speaks to offense and defense. Facebook's defense is there's been a lot of pressure on the brand. It's an aging up brand, it's skewing older, and that means a little tired of a brand and means an old thing. Number two there's been a lot of pressure on privacy and congress and all this stuff, so the defense side is obvious.
I think the offense side is even more interesting to me. Facebook's greatest strength over the last two decades has been going to where the attention is they bought instagram. They tried to buy snapchat and, most importantly, they've been crushing, in my opinion, building the foundation for oculus and being in the metaverse. I see facebook being a serious nft player, a serious metaverse player.
The timing was exactly right and for all us, entrepreneurs here and operators. Timing is everything: offense is always a better reason to rebrand, but when it also coincides with defense, it becomes an obvious move.