Why are companies boycotting Facebook? ‘Stop Hate For Profit’ campaign explained
29 June, 2020, 11:51
The move comes as 90 advertisers, including Unilever (UL), Ben & Jerry's ice cream, and Verizon (VZ), which is the parent company of Yahoo Finance's parent company Verizon Media, have boycotted the site.
Beverage company Pepsi is also reportedly planning a Facebook advertisement boycott in July and August.
The brands boycotting the platform includes big spenders like Unilever, Coca-cola and Verizon, as well as some other smaller companies like Patagonia, REI, Lending Club and The North Face, according to a running list from Sleeping Giants.
PepsiCo did not immediately respond to a request for comment from Reuters.
"From 1 July we will pause all paid advertising globally on major social media platforms".
"There are no exceptions for politicians in any of the policies I'm announcing here today", Zuckerberg said. The social media network's stock price tumbled 8.3 per cent on Friday on Nasdaq closing at 216.08.
Facebook's website says "we remove hate speech, harassment, threats of violence and other content that has the potential to silence others or cause harm". "After the furore, Zuckerberg had said in a meeting with 25,000 Facebook employees that while Trump's posts may not pose a "100 per cent clear-cut of a decision", posts from India where "someone" said "'Hey, if the police don't take care of this, our supporters will get in there and clear the streets'" are a clear cut case of incitement of violence and have been taken down. We have strict content policies in place and have zero tolerance. "Our mission is to serve the public conversation and ensure Twitter is a place where people can make human connections, seek and receive authentic and credible information, and express themselves freely and safely", said Sarah Personette, VP, Global Client Solutions, Twitter. The campaign also alleged that Facebook had "turned a blind eye to blatant voter suppression" on its platform, adding that while Facebook could protect and support Black users as well as call out Holocaust denial as hate, it is "actively choosing not to do so". He said the company has invested in human review and artificial intelligence to identify almost 90% of the hate speech the company removes before anyone is able to report it.
"The problem especially on platforms like Twitter is that we notice the trends immediately". The retailer will continue posting unpaid content on Facebook, which it said is its second-largest paid advertising platform. Hence the narrative is easily manipulated.
Coca-Cola's CEO James Quincey stated that his company would not advertise on social media for 30 days and his firm "expected greater accountability and transparency from our social media partners". "Beyond a point most brands will start disengaging or asking for a "hostility filter like how we have 'adult content" filters for most campaigns now", he added.