Mark Zuckerberg's Confidence In The Return Of Big Brands To Advertising On Facebook

CEO Facebook Mark Zuckerberg (Instagram @markzuckerberg)

JAKARTA - Mark Zuckerberg has lost many large companies that refuse to advertise on Facebook. The reason is because the social media giant is not serious about dealing with the negative content spreading on its platforms.

The husband of Priscilla Chan believes that his advertisers will soon return to Facebook. Even so, the boycott wave continues to grow, along with #StopHateforProfit.

"My guess is that they will all return to advertise on this (Facebook) platform in the near future," Zuckerberg said as quoted by the BBC, Friday, July 3.

Zuckerberg will also not take other action if a company decides to no longer partner with Facebook. "We will not change our policies or our approach on anything because of the threat to a small percent of our income, or a percent of our income," he continued.

The spread of hateful content and racism on Facebook has led companies such as Starbucks and Lego to temporarily suspend advertising on the social media platform. Prior to this, Unilever, Coca-Cola, and Honda had stated that they were removing all of their advertisements on Facebook and Instagram.

The emergence of a wave to stop advertising on Facebook's social media following an open letter from the non-profit organization Anti-Defamation League (ADL) on June 17, 2020, calling on large companies to stop doing business with Facebook because it has become a field. hatred and hoaxes.

"We take this matter very seriously and appreciate the feedback from our partners. We know the content is on our platform, and we make sure we don't benefit from this kind of content," said one Facebook spokesperson.

600 Boycott Companies advertise on Facebook

The wave of advertising boycotts on Facebook continues to expand. At least more than 400 leading companies and brands have joined the 'Stop Hate for Profit' and suspended their ads on Facebook for a while.

The newest Starbucks, Addidas, Levi's and Lego are participating in the boycott action to advertise on Facebook. Because of this, Facebook's shares fell 8.3 percent and were corrected to 58 billion US dollars or around IDR 841 trillion in the trading market, last Friday.

According to a Bloomberg report, as a result of this advertising stopping action, Mark Zuckerberg's wealth decreased drastically by 7.21 billion US dollars or around Rp.103.5 trillion in the last 24 hours. This makes Zuckerberg have to be willing to drop to fourth position in the list of the richest people in the world, under Louis Vuitton boss Bernard Arnault, Microsoft founder Bill Gates, and Amazon CEO Jeff Bezos.