In the wake of a last week’s ruling that the Federal Trade Commission can prosecute its antitrust suit against Meta Platforms, it is now reported that the FTC and multiple state attorneys general are scrutinizing the company’s virtual reality unit — formerly known as Oculus Quest but renamed Meta Quest — for potential anti-competitive practices. New York, North Carolina and Tennessee are among the states that, in addition to the FTC, are said to be investigating whether the Meta Quest app store discriminates against app developers whose goods compete against Meta’s own products. Continue reading Meta Quest VR Unit Faces Antitrust Probe by FTC and States

The metaverse is in its early days, but many are already concerned as they anticipate the content moderation problems that have bedeviled traditional social media increasing exponentially in virtual worlds. The confluence of realistic immersive environments, the anonymity of avatars and potential for deepfakes is enough to give anyone pause. Throw in machine learning that will make today’s ad targeting seem primitive and it’s an even more volatile mix. Experts agree, the very qualities that make the metaverse appealing — false facades and hyperreality — make it potentially more dangerous than the digital platforms of today. Continue reading Policing the Metaverse Looms as a Challenge for Tech Firms

Mark Zuckerberg, who co-founded Facebook in 2004 and is now its CEO and controlling shareholder, announced that the company has changed its name to Meta Platforms Inc. (doing business as Meta), reflecting its pursuit of growth opportunities in the VR and AR realms known as the metaverse. As of December 1, the company will trade as MVRS on the Nasdaq exchange, retiring the FB ticker symbol that took a long ride from a first-day close of $38.23 per share on May 18, 2012, to close at $316 on October 28, the day Zuckerberg announced the new name at the Facebook Connect developer’s conference. Continue reading Meta: Facebook Blasts Off for the Metaverse with New Name