Facebook/Meta is voted worst company of the year 2021 -survey
RIO DE JANEIRO, BRAZIL – More than 1,500 respondents to an open poll on Yahoo Finance on December 4 were given dozens of alternatives to choose from, but Facebook topped them all.
It received 50% more votes as the worst company of the year than the runner-up, Chinese e-commerce giant Alibaba.
Some respondents complained about Facebook’s censorship, while others, on the contrary, criticized the platform for not dealing with misinformation, especially regarding the Covid-19 pandemic. Some also criticized Facebook for “undermining democracy around the world.”
The criticism included the major allegations from whistleblower Frances Haugen that Facebook chose “profit over safety” of its users, including setting algorithms to pursue engagement at the expense of enabling riots to occur. Antitrust concerns were also raised, which is already being looked into by lawmakers around the world.
Many blamed the company’s photo-sharing app, Instagram, for its effects on young people’s mental health. Outrage was sparked earlier this year after internal documents leaked by a whistleblower revealed that Facebook’s owners knew that Instagram affected teenagers’ self-esteem, but failed to address the problem, allegedly for profit.
Facebook has been in trouble on more than one occasion this year; while it dealt with the leak allegations, it has also faced several antitrust investigations. No wonder the company decided to rebrand.
Some saw the Meta rebranding as a promising step to make Facebook more “interesting” and “different.” In addition, investors who participated in the survey said Facebook could generate less anger and more public engagement if it could increase its stock price. It is currently up 22% year-to-date but is still down about 13% from its September peak.
Aside from Meta/Facebook, respondents aimed at Alibaba, as many lost money amid the 50% drop in the company’s market price this year.
They also criticized electric automaker Tesla, not for the stock price, which has soared, but for failing to deliver on promises with products it launched but never produced, just as they criticized CEO Elon Musk and his cult. Like following.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief