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Starbucks, Coca-Cola, Diageo be a part of massive firms that pause or withdraw on Fb and social media advertisements

The chorus of voices in line with #StopHateForProfit swells; Facebook controls the damage amid falling stocks.

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June
29, 2020

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It's not been a great week for Facebook, but it's not the only goal of the anti-defamation league's insurgent social media campaign #StopHateForProfit. Twitter has also taken its lumps as companies – either out of conscience or calculation – start from consumer goods giant Unilever to training apparel makers Lululemon and icecream maker Ben & Jerry & # 39; s (see "Related" link below) Placing ads on social media sites until they take a definitive zero-tolerance stance towards entities and individuals who use the platforms as megaphones for hateful and often fake rhetoric.

But Facebook was the main target, perhaps because Twitter was seen as a little more confident when it came to moderating its more provocative content and banishing abusers lately. Or maybe because Facebook boss Mark Zuckerberg continues to act as an avatar for the historically laissez-fair approach of the technology world in monitoring open forums.

Last weekend was a little bloodbath for social media giants like Starbucks (who had to do a bit of his own image repair after returning a massive government incentive loan), Coca-Cola and Global Spirits Titan Diageo canceled all breaks for his advertising spending on social media. (However, none of these three companies explicitly chose #StopHateForProfit.)

See also: Ben & Jerry & # 39; s joins Facebook and Instagram boycott and campaigns for transgender rights

On Saturday, Facebook took the rare and quick step to introduce new warnings and guidelines related to hate speech and misinformation, although – like Twitter – inflammatory posts by personalities like President Trump are also current.

Unfortunately, that didn't help the company's valuation get a hit. According to Marketwatch, Facebook shares fell 2 percent this morning ahead of open trade (Twitter shares fell nearly 2.5 percent).

Here is a complete list of companies that specifically participate in #StopHateForProfit.

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