The boycott is a result of Facebook not doing enough to combat hate speech.
The “Stop Hate for Profit” campaign is calling on major global brands to pause their Facebook ads in the months of July. Facebook makes almost all of its money from ads, totalling just over $70 billion in revenue last year. Now, as a result of what many are calling Facebook’s lack of curbing hate speech on their platform, advertisers like Ford, Unilever, Microsoft, Adidas and Verizon have decided to halt all paid ads on Facebook. So far, almost 530 big companies have announced that they are also joining the boycott, causing Facebook to lose massive amounts of income. The campaign has listed demands and sent it to Facebook. If these are adhered to, they will end the boycott.