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The "Stop Hate For Profit" campaign group has dented the value of Facebook and Twitter. It asked advertisers to stop advertising with the social media giants until they reformed. The group wants stricter moderation of posts containing hate speech and misinformation. The value of Facebook fell by eleven per cent as major brands paused their spending on the social media platform. Facebook's value fell by around $60 billion.
The Stop Hate For Profit campaign started after civil rights groups and non-profit watchdogs collaborated. It called for an advertising boycott and asked advertisers to, "hit pause on hate". It wants businesses, "to stand in solidarity with our most deeply held...values of freedom, equality and justice and not advertise on [these] services in July." Facebook said it will ban hateful content and on posts making false claims about voting.
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