Author Topic: Mark Zuckerberg loses $7.2B over major advertising boycotts on Facebook  (Read 40 times)

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Offline Ptarmigan

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Mark Zuckerberg loses $7.2B over major advertising boycotts on Facebook

Billionaire Mark Zuckerberg took a $7.2 billion hit after several companies pulled their advertising from Facebook, citing the company’s failure to police hate speech and disinformation on its site.

The company’s shares fell 8.3 percent Friday, the most in three months after Unilever, one of the world’s largest advertisers said it would stop selling its products on Facebook, Bloomberg reported. The company joined other large firms such as Verizon Communications, Hershey Co. and Honda in pulling their ads from the social media giant. Coca Cola said it would suspend its advertising on all social media platforms for at least a month.

The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s own net worth down to $82.3 billion, according to the Bloomberg Billionaires Index. The move left Facebook’s chief executive in fourth place on the list, overtaken by LVMH Moet Hennessy boss Bernard Arnault, who is now in third place behind billionaires Jeff Bezos and Bill Gates.

Companies are not advertising on Facebook because of failure to police "hate" speech and disinformation.
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Offline thundley4

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The only hate speech allowed on Facebook is hatred and threats directed at whites, conservatives and Christians. 

As far as disinformation, Facebook is removing satire and humorous memes and banning people for them.

This one  :

Offline freedumb2003b

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Any information related to people of colour, no matter how heinous must be posted as "an unknown number of potential/possible individuals did something."

That is it.  Nothing else allowed.
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