Jim Cramer: What Mark Zuckerberg Needs to Do Now
Facebook CEO Mark Zuckerberg told employees in a recent employee-only town hall meeting that he was reluctant to change the company's policies and expects advertisers that have joined a boycott of the social media giant "will be back on the platform soon enough.”
Zuckerberg gave his thoughts on the boycott, which now includes brands such as Starbucks
"We're not gonna change our policies or approach anything because of a threat to a small percent of our revenue, or to any percent of our revenue," Zuckerberg said.
"My guess is that all these advertisers will be back soon enough," Zuckerberg added.
Zuckerberg said at the meeting that the boycott was more of a “reputational and a partner issue” than an economic one, according to The Information.
"The campaign is a response to Facebook’s long history of allowing racist, violent and verifiably false content to run rampant on its platform. The campaign will organize corporate and public pressure to demand Facebook stop generating ad revenue from hateful content," wrote the Anti Defamation League, one of the organizers of the ad boycott, Stop Hate for Profit.
So, is Zuckerberg taking this seriously? Jim Cramer says yes.