Mark Zuckerberg finally broke his silence over the series of Facebook ad boycott. The Facebook CEO claimed that all the advertisers will be back soon enough. According to Market Watch's latest report, Facebook's CEO Mark Zuckerberg said in a report citing a transcript of employee meeting that the social media platform's policies won't change because of the massive ad boycott.
5 things to know about Mark Zuckerberg Here are five fast facts to know about the 36-year-old CEO. pic.twitter.com/tXzAP2Cyxj — Ajay J Pillai (@ajayjpillai) June 29, 2020
The report stated that a temporary ad boycott against Facebook Inc. was joined by hundreds of companies across the globe. Given the circumstances, Zuckerberg said that he has no intention of changing the social media's policies since he's not worried about the situation. According to The Information's report on Wednesday, July 1, the CEO claimed that the boycott is more of a PR issue than one that will hurt Facebook's bottom line.
"We're not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue," said Mark Zuckerberg via Market Watch.
A tiny fraction of the social media's roughly 8 million advertisers were involved in the boycott while generating headlines. The Information's previous report stated that Facebook's CEO said that he was reluctant to bow threats of a growing ad boycott, telling his employees in private remarks that his guess was that all the advertisers involved will be back on the platform soon enough.
Facebook won't change policies amid boycott
According to Market Watch, civil rights groups started the #StopHateForProfit campaign last month--it encourage major advertisers and other companies to stop their Facebook ad spending for July to protest against the company's inability to act against threats of violence, misinformation on its platform, and hate speech.
Mark Zuckerberg loses $7 billion, FB shares drop pic.twitter.com/VKx8TGOUKN — techami (@techami31) June 28, 2020
To crack down on hateful content and voting misinformation, Mark Zuckerberg announced that some of Facebook's policies will change; in a portion of a virtual town hall which on July 3, which was streamed to the public from the CEO's Facebook page. However, the report said that Zuckerberg was blunter in private remarks to employees, claiming that Facebook would not cave to the pressured created by the massive boycott.
"You know, we don't technically set our policies because of any pressure that people apply to us," said Mark Zuckerberg via The Information.
"And, in fact, usually I tend to think that if someone goes out there and threatens you to do something, that actually kind of puts you in a box where in some ways it's even harder to do what they want because now it looks like you're capitulating, and that sets up bad long-term incentives for others to do that [to you] as well," he added.
Also Read: Goodbye Facebook: SAP, Chobani, and Pfizer Also Boycotting Facebook Ads
