Mark Zuckerberg is $7 billion poorer as more companies join Facebook ad boycott

midian182

Posts: 5,780   +46
Staff member
What just happened? Imagine losing more than $7 billion of personal wealth yet still being the fourth-richest person in the world. That’s the situation Mark Zuckerberg has found himself in, as more companies, including Coca-Cola, join the Facebook/Instagram advertising boycott.

The ‘Stop Hate for Profit’ campaign, created by organizations including the NAACP, Anti-Defamation League (ADL), and Mozilla, asks businesses “to stand in solidarity with our most deeply held American values of freedom, equality and justice and not advertise on Facebook's services in July.”

Social media sites such as Facebook and Twitter have long been accused of not doing enough to remove hate speech from their platforms. “Let’s send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence,” wrote the ADL.

Dozens of big-name brands have joined the campaign, including Verizon, Honda, The North Face, and Unilever, with Coca-Cola the most recent company to announce it would be suspending its ads. The drinks giant said it was banning advertising on all social media channels, not just Facebook and Instagram, for at least 30 days starting on July 1.

“We will take this time to reassess our advertising standards and policies to determine whether revisions are needed internally, and what more we should expect of our social media partners to rid the platforms of hate, violence and inappropriate content. We will let them know we expect greater accountability, action and transparency from them,” explained company CEO James Quincey.

Facebook is behind only Google when it comes to digital advertising revenue. The social media giant brought in $69.7 billion from ads last year. In just under a week, Facebook’s shares have dropped 11 percent, wiping over $56 billion from its market value, and Twitter is down around 14 percent over the same period. The drop has seen CEO Mark Zuckerberg’s personal wealth decline by over $7 billion, though he’s still worth around $79.7 billion, sitting between fifth-place Warren Buffett ($69.3 billion) and third-place Bernard Arnault ($105 billion) on Forbes’ rich list.

On Friday, Facebook announced new policies designed to offer more information about voting, crack down on voter suppression, and fight hate speech. The company added that its AI tools and human moderators identify and remove 90 percent of hate speech "before anyone even reports it."

Three weeks ago, I committed to reviewing our policies ahead of the 2020 elections. That work is ongoing, but today I...

Posted by Mark Zuckerberg on Friday, June 26, 2020

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QuantumPhysics

Posts: 2,901   +2,642
I’m glad to see it.

I have always said that the free market is always 100% right.

I have always stood by my belief that the first amendment is a negative right on the Congress and that social media companies have a right to run their communities the way they see fit.

if Facebook wants to run their servers in this manner, censoring what they consider to be “hate speech“ then they to have to answer to their sponsors who may decide that they aren’t interested in sharing their business with Facebook.

I have always been disgusted with Facebook’s tactics, namely: not giving us a dislike button and allowing certain levels of trolling while disallowing others in retaliation.

I have always been disgusted with Facebook‘s policies on accounts and I am shocked that they’ve been allowed to get away with the numbers of social media suicides that occurred in younger children who should’ve never been allowed to get on Facebook in the first place. Age verification should have always been a demand for social media and I’m also disappointed in the Congress for not forcing age verifications in the same way they did with pornographic websites by use of a credit card or drivers license/state ID.

I am going to be quite entertained as I watch corporations play this game with any social media system that they aren’t happy with. At the end of the day either the social media companies will change their policies or they will watch themselves lose billions of dollars.

This is truly the free market at work. I can’t speak for other countries but this is exactly what the idea in the constitution of “private contracts” is about. The social media services are going to have to find common ground with the sponsors because at the end of the day the social media services what the money a the sponsors want the air time.

This is truly the free market at work. I can’t speak for other countries but this is exactly what the idea in the constitution of “private contracts“ is about. The social media services are going to have to find common ground with the sponsors because at the end of the day the social media services want the money and the sponsors want the air time.

Most important thing is to keep the government out of it. Let the social media services and the sponsors work this out amongst themselves.

Truly the sponsor’s money is the check and balance against Zuckerberg’s censorship policies.

I can only hope that the outcome of this entire ordeal is alternatives to Facebook popping up who will resist Facebook’s inevitable attempts to buy them.

The political discourse is what is prompting all of this but people need to remember at the end of the day that political discourse is not what this is about. This is about the fact that Facebook is a gigantic data mining operation and they want in everyone’s computers and everyone’s cell phones.

Zuckerberg will get nothing from me but dank Memes and non-personal information.
 
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Cubi Dorf

Posts: 203   +77
Can someone explaining this? They are boycott because? The companies like or do not liking free speeches?
 

Uncle Al

Posts: 7,098   +5,453

Can someone explaining this? They are boycott because? The companies like or do not liking free speeches?
Companies are boycotting because Facebook refuses to remove misleading or outright lies in posts, especially those of a political nature. This was escalated by the "black lives matter" movement because there were quite a few "hateful" posts and pro-white supremacist messages as well. Facebook has always hidden behind the free speech mantel, especially when it means getting or loosing revenue. Companies now understand and don't want their messages posted on social media, where hate speech is continuous and has no limits.
 

Cubi Dorf

Posts: 203   +77
Is that concluding these company are against free speech because someone feeling got hurt? I not liking hate or Facebook, but my hunch is this is part of bigger conspiracy. I not blame Facebook for what user post and also not believe in censor. These company getting free advertisement in news coverages by not paying for advertise though. very clever on them.
 

PixelMediaArts

Posts: 29   +54
Free speech is a right.
Responsibility is difficult in the new online world. Since individuals cannot be held accountable, businesses now must be arbitrators of Free Speech...
So I can have FREE SPEECH as long as I fall in line with whatever the mass collective is comfortable with.... YIKES!

Mass media already controls TV... This is yet another method to control ideas ONLINE!

FREE SPEECH IS DEAD!
 

Adi6293

Posts: 470   +512
Companies are boycotting because Facebook refuses to remove misleading or outright lies in posts, especially those of a political nature. This was escalated by the "black lives matter" movement because there were quite a few "hateful" posts and pro-white supremacist messages as well. Facebook has always hidden behind the free speech mantel, especially when it means getting or loosing revenue. Companies now understand and don't want their messages posted on social media, where hate speech is continuous and has no limits.
Well you either have free speech or you don't, hurting someone's feelings should not be seen as hate speech, whoever came up with this was quite smart I will tell you that
 

kira setsu

Posts: 276   +200
Wow, I never was a fan of FB, mainly because it let me see how actually eff'd up alot of people I knew were, I didn't blame fb for the trashy people though cause I've always known they were around, I just didnt deal with it and went my own way, in a strange way FB helped because I could separate myself from those folks or at least be aware of them. imo seems alot of people are naive thinking platforms whose purpose is letting people vent would be all peace and rainbows.

I dont like where this censorship stuff is heading, I dont like the idea of pushing stuff into the shadows because it makes some people sad, if anything we need to face it head on and educate and ask why people think these things, it'll just repeat with what were doing now, and usually hit harder on the comeback.

its weird watching the u.s. slowly warp into a bad movie, like a frankenstein twist of idiocracy, demolition man and judge dredd, a bunch soft, emotional *****s with a violence fetish and judgemental ways sounds lovely doesnt it?
 

QuantumPhysics

Posts: 2,901   +2,642
Free speech is a right.
Responsibility is difficult in the new online world. Since individuals cannot be held accountable, businesses now must be arbitrators of Free Speech...
So I can have FREE SPEECH as long as I fall in line with whatever the mass collective is comfortable with.... YIKES!

Mass media already controls TV... This is yet another method to control ideas ONLINE!

FREE SPEECH IS DEAD!


"Free Speech" only applies to the US Congress not being allowed to censor individuals.

It in no way applies to corporations which are conglomerates of people and people's money (democratic vote).

I can't wear a Microsoft shirt into my job at Apple. They can fire me.

I can wear a Microsoft shirt into a Federal government building - and they can't stop me.
 

PixelMediaArts

Posts: 29   +54
"Free Speech" only applies to the US Congress not being allowed to censor individuals.

It in no way applies to corporations which are conglomerates of people and people's money (democratic vote).

I can't wear a Microsoft shirt into my job at Apple. They can fire me.

I can wear a Microsoft shirt into a Federal government building - and they can't stop me.
Yes but my comments online are from myself NOT Facebook? What if I walk into McDonalds with a Burger King shirt on... If I wear an "#ALLLIVESMATTER" T-shirt and am asked to leave, I could see that being their right to do so.

It is a slippery slope to navigate. I understand what you are saying, and an employer does have that right, and should have that right... But Facebook is not my employer. Social Media should be an open forum... Otherwise we might as well live in China with no rights at all!
 

QuantumPhysics

Posts: 2,901   +2,642
Yes but my comments online are from myself NOT Facebook? What if I walk into McDonalds with a Burger King shirt on... If I wear an "#ALLLIVESMATTER" T-shirt and am asked to leave, I could see that being their right to do so.

It is a slippery slope to navigate. I understand what you are saying, and an employer does have that right, and should have that right... But Facebook is not my employer. Social Media should be an open forum... Otherwise we might as well live in China with no rights at all!
#1. “ CONGRESS shall make no law”
You can walk into a Burger King with a McDonald’s shirt on or you could walk into a McDonald’s with a Burger King shirt on. Congress cannot make a law against you doing this. How ever McDonald’s or Burger King can make rules that say that you’re not allowed to come in to the restaurant wearing certain things.

For example “no shirt – no shoes – no service”

The corporations are well within their constitutional rights to make demands on its patrons and to make demands on its workers. McDonald’s absolutely will fire you if you were at Burger King paraphernalia into work. You can’t wear a Burger King uniform in a McDonald’s as a cash register person for example

he corporations are well within their constitutional rights to make demands on its patrons and to make demands on its workers. McDonald’s absolutely will fire you if you were at Burger King paraphernalia into work.

You can’t wear a Burger King uniform in a McDonald’s as a cash register worker.

There is no slippery slope here.

There is absolutely no guideline that says that you have to even be allowed to comment on Facebook. If Zuckerberg really wanted to he could replace everyone’s profile photo with a picture of himself.

I think you need to understand the difference between public and private property because there lies the reason why you don’t understand the laws that I am speaking about.
 

PixelMediaArts

Posts: 29   +54
#1. “ CONGRESS shall make no law”
You can walk into a Burger King with a McDonald’s shirt on or you could walk into a McDonald’s with a Burger King shirt on. Congress cannot make a law against you doing this. How ever McDonald’s or Burger King can make rules that say that you’re not allowed to come in to the restaurant wearing certain things.

For example “no shirt – no shoes – no service”

The corporations are well within their constitutional rights to make demands on its patrons and to make demands on its workers. McDonald’s absolutely will fire you if you were at Burger King paraphernalia into work. You can’t wear a Burger King uniform in a McDonald’s as a cash register person for example

he corporations are well within their constitutional rights to make demands on its patrons and to make demands on its workers. McDonald’s absolutely will fire you if you were at Burger King paraphernalia into work.

You can’t wear a Burger King uniform in a McDonald’s as a cash register worker.

There is no slippery slope here.

There is absolutely no guideline that says that you have to even be allowed to comment on Facebook. If Zuckerberg really wanted to he could replace everyone’s profile photo with a picture of himself.

I think you need to understand the difference between public and private property because there lies the reason why you don’t understand the laws that I am speaking about.
Okay... so where online is there free speech?

Seems like if I can't share my opinion online... anywhere...
THAT MY FRIEND IS THE END OF FREE SPEECH!
So liberals control media/corporations/online...

 
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psycros

Posts: 3,131   +3,242
"Let’s send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence"

So I assume they want most of the pro-BLM posts calling for killing cops and destroying cities removed, right? The fascists are unrelenting. They think they've found the perfect shield in the form of the race card. Its past time for the silent majority to show them how wrong they are. If the public doesn't start standing up to this RIGHT NOW we can kiss free speech and the rest of our civil liberties goodbye. #alllivesmatter
 

PixelMediaArts

Posts: 29   +54
"Let’s send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence"

So I assume they want most of the pro-BLM posts calling for killing cops and destroying cities removed, right? The fascists are unrelenting. They think they've found the perfect shield in the form of the race card. Its past time for the silent majority to show them how wrong they are. If the public doesn't start standing up to this RIGHT NOW we can kiss free speech and the rest of our civil liberties goodbye. #alllivesmatter
Exactly... who has the right to say what belongs and doesn't belong. Cancel culture is hypocritical if it doesn't treat Kimmel and Howard Stern with the same measuring stick. Biden abuses women and isn't held accountable... WOW... what a world we live in! I am not the biggest Trump fan... But at least he can read!
 

Fergutor

Posts: 18   +14
Clownworld at full force here.
So much insanity in all this I could write a book here in the comment section.
Of course I will not so I'll just say what resumes it: clownworld.
 

Cubi Dorf

Posts: 203   +77
When most people talk about free speeches they are not talking about specific laws for specific countries. Facebook is global operation. If you are cannot have free speeches in your country, that does not mean mine should not be allowed to having free speeches.

"Free Speech" only applies to the US Congress not being allowed to censor individuals.

It in no way applies to corporations which are conglomerates of people and people's money (democratic vote).

I can't wear a Microsoft shirt into my job at Apple. They can fire me.

I can wear a Microsoft shirt into a Federal government building - and they can't stop me.
 
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Fergutor

Posts: 18   +14
"Let’s send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence"

So I assume they want most of the pro-BLM posts calling for killing cops and destroying cities removed, right? The fascists are unrelenting. They think they've found the perfect shield in the form of the race card. Its past time for the silent majority to show them how wrong they are. If the public doesn't start standing up to this RIGHT NOW we can kiss free speech and the rest of our civil liberties goodbye. #alllivesmatter
"Let’s send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence"

So I assume they want most of the pro-BLM posts calling for killing cops and destroying cities removed, right? The fascists are unrelenting. They think they've found the perfect shield in the form of the race card. Its past time for the silent majority to show them how wrong they are. If the public doesn't start standing up to this RIGHT NOW we can kiss free speech and the rest of our civil liberties goodbye. #alllivesmatter
IF there actually is a functioning silent majority. There is so much cowardice right now that I am even doubting individual thinking is still something most people can efectively do (I mean if they can do it, they aren't showing it). Let alone integrity, conviction, etc. Everyone seems to be disposed on being silenced by and to conform to the new authoritarians.
 
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treetops

Posts: 2,973   +743
FB is free. FB has nothing to do with the first amendment, it is a business. Most platforms do not cater to racism or hate speech. That can be shown from your local diner to any online video game. Whether it's due to morals or profit.

What's funny is how many people decided to be publicly racist over the last 3-4 years. Go back to hiding behind your sheets. Sorry that confederate flag you wore on your back while screaming with a tiki torch will be on the internet long after you die. Who knows maybe you'll make it into a history book.

Okay... so where online is there free speech?

Seems like if I can't share my opinion online... anywhere...
THAT MY FRIEND IS THE END OF FREE SPEECH!
So liberals control media/corporations/online...

Google racist friendly forums? Or KKK social media? You can make your own forum?
Here you can make your own free forum. Maybe you'll be the next MySpace?
Will you let people show pornographic images?
How about obscure fetish porn?
How about links to infected sites?
What about talking about illegal activities?
How about fake images such as president XX with a XX up his XX?
Remember you can moderate however you want. Freedom of speech does not apply to an online forum or social media, never has. Matter of fact, Fox news bought MYSPACE.
 
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The sooner this sociopath's company is dead & buried, the better.
If he doesn't sell the stock he doesn't lose a penny.
He'll just wait till the hype is over.
The stock will go back up.
A companies value isn't reflected in the stock market value.
It's reflected in their earnings.
Wait for their earnings report. I doubt they have had less advertisers and less web activity because of all this.
 

QuantumPhysics

Posts: 2,901   +2,642
Okay... so where online is there free speech?

Seems like if I can't share my opinion online... anywhere...
THAT MY FRIEND IS THE END OF FREE SPEECH!
So liberals control media/corporations/online...


Funny you should say that:

I go online to play CS: GO and there's always someone who starts saying racist or hateful things.

Rather than simply mute them, everyone contributes to a VOTE: KICK.

The group decides whether the player is annoying or not and then kicks or doesn't kick them.

Well guess what: The real world works like that through corporations - which technically are no different than the Terrorist or Counter Terrorist team.

If you don't like it....join another server that tolerates your madness.

OR - create your own server.

And that my friend is how "the democratic vote" works.

You get voted off the island.
 
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