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Yo_Mama_Been_Loggin

(108,009 posts)
Tue Jun 30, 2020, 12:51 PM Jun 2020

More 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

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grumpyduck

(6,240 posts)
1. Some of the advertisers are probably just doing it out of peer pressure
Tue Jun 30, 2020, 12:56 PM
Jun 2020

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.

erronis

(15,286 posts)
12. Agree. Like most tempests-in-tea-pots. The public can only be concerned for so long.
Tue Jun 30, 2020, 03:40 PM
Jun 2020

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)
2. Stock Price Is Everything With FB
Tue Jun 30, 2020, 01:04 PM
Jun 2020

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!

Lonestarblue

(9,998 posts)
8. Yea! I hope every advertiser leaves them.
Tue Jun 30, 2020, 03:05 PM
Jun 2020

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 Carlson’s show, but that isn’t enough. The entire organization needs to be boycotted.

erronis

(15,286 posts)
15. I have a facebook page with a list of companies including fb and how to boycott them. 🙃
Tue Jun 30, 2020, 03:45 PM
Jun 2020

Oops. It was taken down. Sorry!

Maggiemayhem

(809 posts)
10. Facebook allows posts conspiracy theories and won't remove them.
Tue Jun 30, 2020, 03:25 PM
Jun 2020

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.

Dread Pirate Roberts

(1,896 posts)
14. Leave Facebook to the MAGA'ts and their Memes
Tue Jun 30, 2020, 03:45 PM
Jun 2020

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)
16. I agree. But I have lots of very liberal friends and family who WON'T leave fb
Tue Jun 30, 2020, 03:49 PM
Jun 2020

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.

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