Zuckerberg loses billions after Verizon and other ads posted offers

Zuckerberg loses billions after Verizon and other ads posted offers

Zuckerberg companies, including some of the world’s largest advertisers, have been running Facebook and Instagram ads in recent days. Unilever, one of the world’s largest advertisers, has announced that it will cancel its ad placement with the social media giant for the rest of 2020. The company produces Dove soap; Lipton tea and soups; Breyers ice cream; Washing the ax body; and many other known consumer goods. Yesterday, the Coca-Cola soft drink giant announced that it had stopped advertising on a social networking site around the world for at least 30 days, while Dockers and Levi joined the boycott late Friday. Hershey reduces spending on both platforms by 33%.

A Facebook ad on Facebook was posted alongside an offensive anti-Semitic video from QAnon

These companies are trying to force changes on Facebook and Instagram by getting Facebook co-founder and CEO Mark Zuckerberg to take note. By dragging their ads, earnings on Facebook will fall below expectations, which has already affected the share price. Yesterday, the stock fell 8.3%, reducing the company’s value by $ 56 billion. Zuckerberg personally hit a $ 7 billion hit, although its net worth after the decline is still $ 82.3 billion.

The next election is a major topic for offensive and hateful posts on Facebook and Instagram – Zuckerberg loses billions after Verizon and other ads posted offensive posts
Upcoming elections are an important topic for offensive and hateful posts on Facebook and Instagram

The above companies are protesting Facebook’s failure to remove offensive and hateful posts. For example, the Anti-Defamation League released an open letter on Thursday stating that ADL “found an advertisement for Verizon along with a video of the QAnon conspiracy group based on ugly and anti-Semitic rhetoric and the Federal Emergency Management Agency (FEMA) plans a civil war with concentration camps and coffins ready, claiming that Americans have already been quarantined in militarized districts, “the letter added, adding that” 42% of daily users of the platform have been harassed. “

The country’s main airline spent $ 1.46 million on Facebook ads between May 22 and June 20, according to analysis firm Pathmatics. Verizon spent nearly $ 407,000 on Instagram ads in the same period. John Nitti, Verizon’s media director, said: “We have strict content guidelines and can’t stand tolerance when they are violated. We act. We stop advertising until Facebook can find an acceptable solution that makes us comfortable and consistent. “with what I did with YouTube and other partners. “

Verizon pulls ads on Facebook and Instagram – Zuckerberg loses billions after Verizon and other ads posted offensive posts
Verizon posts its ads on Facebook and Instagram

Bloomberg reports that Zuckerberg held a Q&A session with Facebook employees on Friday and announced some changes to the company’s advertising policies. In that session, Zuckerberg said that Facebook will now connect all voting posts with the Facebook voting center. In addition, all posts that violate Facebook’s rules are flagged, even if they remain on the platform. ADL responded by saying that the changes were “small” and said: “I have been on this path with Facebook so far. They have apologized in the past. After each disaster in which their platform played a role, they took weak steps. But that has to end now. “
Verizon is offering the Apple iPhone 11 for just $ 15 a month

The Wall Street Journal reports today that Carolyn Everson, vice president of global affairs on Facebook, wrote a note to advertisers last week. Everson wrote that Facebook “does not make policy changes that are related to sales pressure” and that it “sets policies that are based on principles and not on business interests.” She also said that in the six-month period ending in March, 89% of posts deleted by Facebook for violating its inappropriate news policy were automatically generated before anyone on the platform could read. She added: “Hatred is an insidious trait facebookindia.

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