Mark Zuckerberg, chief executive of Facebook-parent Meta Platforms, late Tuesday outlined his vision for the company's corporate culture as it treks into the metaverse. FB stock inched down in after-hours trading.
"As we head into this next chapter and continue to grow, I think it's important to be intentional about how we work and what values we emphasize," Zuckerberg said in a post on Facebook.
The Facebook founder also referred to employees as "metamates." And, the company announced in a tweet that it was changing the name of its "News Feed" feature on Facebook to just "Feed."
Zuckerberg said Meta would adapt the core values that the company established in 2007 for the future.
"We are now a distributed company. And we're now a metaverse company, building the future of social connection," Zuckerberg wrote.
Name Change, New Direction Fails To Boost FB Stock
Facebook changed its name to Meta Platforms in October as it set the company's direction into the metaverse. FB stock barely moved on the news.
Technologists describe the metaverse as the next-generation version of the internet. It's a shared 3D environment. People can meet in a virtual world to engage in work activities. They can play games or simply visit with friends, among other things.
The name change comes at a time when FB stock is under pressure, due partly to Washington politicians who want to break the company up for alleged monopoly practices.
Key pieces of equipment for the metaverse include virtual-reality headsets, where Meta plays a leadership role. Meta has made huge investments in Oculus, its virtual-reality headset.
Move Fast, Build 'Awesome Things'
Among things Zuckerberg highlighted in his post was to move fast.
"This means acting with urgency and not waiting until next week to do something you could do today," he said. Zuckerberg went on to encourage employees to "build awesome things."
"We've already built products that are useful to billions of people, but in our next chapter we'll focus more on inspiring people as well," he said.
Zuckerberg went on to encourage workers to "be direct and respect your colleagues" in order to create "a culture where we are straightforward and willing to have hard conversations with each other."
At the end of the note, he said, "Values aren't what you write on a website but what we hold each other accountable for every day. I encourage you to reflect on these values and what they mean to you as we start working on this next chapter for our company."
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
