With the sudden departure of so many advertisers from Facebook, the world’s biggest social media platform has seen billions wiped from their portfolio.
More and more big ticket companies are pulling their advertising from Facebook because of the social platforms stance on policies on misinformation and hate-speech.
Facebook have been refusing to police posts from politicians including US President Donald Trump, many of which have been criticised for, (as critics say), violating rules on hate-speech, and voter suppression.
Following the Black Lives Matter protests, after the killing of George Floyd by a police officer, many civil rights organisations like the NAACP (National Association for the Advancement of Coloured People), have been pushing for a boycott.
To begin with it was a small number of smaller companies that joined the boycott, but now more and more blue chip companies are getting on board.
These companies include: Coca Cola, Diageo, Starbucks, Honda, Levi Strauss, North Face, Ben and Jerry’s, and Unilever.
This is possibly going to be catastrophic for Facebook as 100 per cent of their income is from advertising.
Mark Zuckerberg (CEO of Facebook), stands to lose literally billions of US dollars personally as well and if the trend continues there is a possibility of Facebook itself going under.