Coca-Cola campaigns for social media ads in order to avoid ethnic prejudice
Coca-Cola, one of the world’s leading manufacturer of drinks, has confirmed that it is halting social media ads worldwide for at least 30 days, as pressure increases for social networking sites to clamp down for hate speech linked to racial discrimination.
Demanding “greater accountability and transparency” from social media companies, Drinks Maker Chairman and CEO James Quincey said: “There is no place for racism in the world and there is no place for racism in social media.” The decision was taken by the multinational company despite Facebook saying that it would label potentially harmful or misleading posts left behind for their news value.
Founder Mark Zuckerberg said Facebook would also ban advertising that claims that “people of a specific race , ethnicity , national origin, religious affiliation, caste, sexual orientation , gender identity or immigration status” are a threat to others.
The moves are coming in after the organizers of the # StopHateforProfit campaign,That accused Facebook of not doing anything to combat hate speech and misinformation, saying that the “tiny number of minor improvements” will not “make a dent in the issue.” In the wake of the campaign against racial discrimination, more than 90 companies have stopped advertising to support #StopHateforProfit.
As a part of the strike, Facebook stock plummeted 8.3 percent on Friday, wiping $56 billion ( £ 45 billion) from the company’s market cap, and taking $7.2 billion off Mr. Zuckerberg’s own net worth, Bloomberg reported. Owing to the defeat, Louis Vuitton Leader Bernard Arnault succeeded Facebook as the third richest person in the world.
The # StopHateforProfit movement, which includes the National Association for the Advancement of Colored People ( NAACP) and the Anti-Defamation League (ADL), said that none of the changes would be reviewed or verified in this regard. We’ve been down this road with Facebook before. In the past, they have apologized. After each disaster, they took meager steps where their platform played a part.
The initiative called for Zuckerberg to take more action, including “establishing a comprehensive civil rights network within the company; undertaking impartial investigations of identity-based hostility and misinformation; identifying and banning civic and private organizations from distributing these content; and setting up advisory teams to investigate grievances,” the study stated.