Sequoia Warns Founders of ‘Crucible Moment,’ Advises How to ‘Avoid the Death Spiral’

Mark Zuckerberg. Photo by Bloomberg. Art by Mike Sullivan
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Mark Zuckerberg on Why He Won’t Step Down as CEO and Facebook’s New Name

By  |  Oct. 28, 2021 11:19 AM PDT
Photo: Mark Zuckerberg. Photo by Bloomberg. Art by Mike Sullivan

Facebook CEO Mark Zuckerberg says he hasn’t thought “very seriously yet” about spinning off the company’s augmented and virtual reality and metaverse unit Reality Labs from the rest of the business. In an interview with The Information, Zuckerberg also said he had not considered stepping down as CEO.

His comments to The Information were made ahead of Zuckerberg’s disclosure today, at the company’s Facebook Connect AR/VR event, that he is changing its corporate name to Meta. Zuckerberg said the new name was meant to evoke the company’s focus on building for the metaverse while also clearing up what Zuckerberg called “an inherent awkwardness” in having the company’s name match that of its flagship product. (The Information was not told the name ahead of time, but Zuckerberg answered questions on the subject.)

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