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STARBUCKS HALTS SOCIAL MEDIA ADS IN ANTI-RACIST BOYCOTT

Starbucks

Starbucks joins a growing list of companies punishing Facebook and Instagram (a Facebook company) for their perceived failure to control hate speech on their platform.

Starbucks issued a statement in which it said

“we believe more must be done to create welcoming and inclusive online communities, and we believe both business leaders and policy makers need to come together to affect real change,”

Facebook has taken the stance that they are just a platform and do not, in fact, cannot, control the content. This is in contrast to Twitter, which recently silenced a Tweet from President Donald Trump which Twitter claimed encouraged violence.

By last Friday, Facebook had lost $7.2 billion in advertising as a direct result of the boycott, and the company’s stock price tumbled 8.3%, wiping out $56 billion in its market value.

For more about this story, check out the Markets page on Bartalks.

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Written by Nick Baskett

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