In this universe, Plankton became successful and Mr. Krabs did not. Plankton and Mr. Krabs switched positions in life.
Its role in the series
In "The Algae's Always Greener," Karen suggests that he should switch lives with Mr. Krabs using a new invention he made. Plankton does and enters an alternate universe in which he is successful. However, he retains his memory from the normal world. In the Mr. Plankton Universe, he learns that he runs the Krusty Krab and everything is exactly the same except that he is the owner instead of Mr. Krabs and that Plankton is referred to as "Mr. Plankton." SpongeBob SquarePants and Squidward Tentacles work for him and Pearl Plankton is his daughter. In addition, as Plankton later learns, Mr. Krabs goes by the name of "Krabs" and is in Plankton's role in Mr. Plankton's universe. He is naked as Plankton has Krabs' clothes.