Even after 500 advertisers boycotted Facebook over its hate speech policies, CEO Mark Zuckerberg has no intention of making a complete change.
According to a report Wednesday by The Information, which cited a transcript of remarks made by Zukerberg at an employees-only virtual town hall on Friday, he referred to the boycott as more of a PR issue than one that will hurt the social media giant’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,” he said, according to The Information.
The #StopHateForProfit campaign was started by civil rights groups last month, calling for major companies to stop their Facebook ad spending for July to protest the company’s inability to rein in hate speech, threats of violence, and misinformation on its platform.
But while the boycott has been dominating headlines, it really only affects a tiny fraction of Facebook’s roughly 8 million advertisers. The company generates almost all of its revenue from ads.