Facebook: Trust Crisis? You Must Be Joking, Never
June 26, 2020
I read “Facebook Faces Trust Crisis As Ad boycott Grows.” The lovable college drop out who founded Facebook seems to be in pickle. The write up reveals that the company Facebook has to mend some fences with advertisers.
Specifically:
In a call with over 200 advertisers Tuesday, Facebook’s head of trust and safety policy Neil Potts “acknowledged that the company suffered from a trust deficit,” according to the Financial Times. A source familiar with the meeting confirmed the comment. The conversation occurred amid a growing boycott of Facebook and Facebook-owned Instagram’s ad platform by roughly a dozen brands.
In a moment of insight, the author of the write up states:
The political and social pressure on Facebook is ramping up, but the tech giant doesn’t show any signs of seriously changing its policies in response to the mounting pressure, as most politicians and marketers seem to benefit too much from Facebook advertising to really give it up long-term.
What’s this mean? There are some good reasons to allow Facebook to just keep being Facebook. One of them is the data Facebook gathers has value to some individuals in government agencies. Losing Backpage was a set back, but losing Facebook, hey, let’s talk about this.
Second, where there are eyeballs, there are advertisers. The ethical compass of advertisers spins toward selling and making money. That pull is strong enough to light up some folks’ Faraday effect.
Stephen E Arnold, June 26, 2020
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