General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMore advertisers flee Facebook as boycott grows
A growing number of major advertisers are abandoning Facebook amid criticism the social media company is letting hateful or false posts go unchecked.
Chipotle, HP, Pfizer and Puma are the latest to pull their ads from Facebook. They join a list of major brands including Adidas, Clorox, Coca-Cola, Conagra, Denny's, Ford, Starbucks, Unilever and scores of smaller businesses that have halted advertising on the platform. A pledge by Mark Zuckerberg on Friday to label rule-breaking posts has done little to mollify advertisers.
In all, more than 100 brands have pledged to boycott the social media giant, while prominent critics including Prince Harry and Meghan Markle have also thrown their influential weight behind the boycott, according to reports.
The campaign also appears to have dented Facebook's stock. Its shares have dropped roughly 8% since the boycott started gaining steam last week, slashing $53 billion off the company's stock market value.
https://www.msn.com/en-us/money/companies/more-advertisers-flee-facebook-as-boycott-grows/ar-BB167nwu?li=BBnb7Kz
grumpyduck
(6,240 posts)or visibility, but who cares. Whatever reason they have, pull the ads. Hit the investors and board of directors where it hurts. If Fuckerberg doesn't do something, we may just hear he was forced out.
lpbk2713
(42,757 posts)They will quietly go back in a month or two.
grumpyduck
(6,240 posts)that could be a story in itself.
erronis
(15,286 posts)However, get some consumer groups to boycott brands for good reasons (and this is one) and the effect lasts a long time.
ProfessorGAC
(65,057 posts)They're sitting on $60 billion in cash & cash equivalents. The D/E is reported at 0.092!
So, the financial impact of lost revenue can be covered by the cash on hand for 2 years.
But, the stock price is leveraged on that super low debt (on the books) and the huge cash holdings.
As the cash goes down and DLOC borrowing raises that microscopic D/E, the stock price will likely fall much more.
That will cause their heads to explode.
They better get way stricter, and fast!
Fullduplexxx
(7,863 posts)donkeypoofed
(2,187 posts)erronis
(15,286 posts)volstork
(5,401 posts)FB is evil.
Lonestarblue
(9,998 posts)Now, how about Fox? They are just as influential at stirring up hate and creating false narratives as Facebook. I know some advertisers have stopped ads on Tucker Carlsons show, but that isnt enough. The entire organization needs to be boycotted.
erronis
(15,286 posts)Oops. It was taken down. Sorry!
KS Toronado
(17,244 posts)Since they have a habit of kicking Dem's off their platform
Skittles
(153,164 posts)ugh
Maggiemayhem
(809 posts)They know there are people who believe everything they read on FB and yet nothing is removed no matter how bizarre. Nothing is against their rules. I am leaving soon.
seta1950
(932 posts)Dread Pirate Roberts
(1,896 posts)They can pass around all their memes about "share this if you have the balls" with a picture of Trump or the American flag or saying Obama or Hillary eat babies or whatever other bullshit floats their boat. Zuckerberg will be left with the same advertisers as bad AM radio and Hannity's show. All natural male enhancers, buy gold and My Pillow. Good luck with that economic business model Mark. They can all live in their own little alternative universe. We are resourceful enough to find other ways to share recipes, pics of our kids, and stay in touch with old friends. You know, you used to be able to do those things before Facebook too.
erronis
(15,286 posts)because their contacts and businesses are linked there.
Everyone - ask yourself where you'd be if you had to "leave" your current social media provider (apple, google, microsoft, yahoo!, aol!).
Do you have personal off-line copies of all of the information you need to continue your life/business?
This is serious because in these days a government/corporation could decide to restrict access instantly.