Could a Boycott kill Facebook? Tuesday June 30 2020, 8:18 AM
Could a Boycott kill Facebook?

Boycotts can be extremely effective - as Facebook is finding out.

On Friday, Facebook's share price dropped by 8% - making chief executive Mark Zuckerberg, theoretically at least, £6bn poorer!

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In the late 18th century, the abolitionist movement encouraged British people to stay away from goods produced by slaves. It worked. Around 300,000 stopped buying sugar - increasing the pressure to abolish slavery.

The Stop Hate for Profit campaign is the latest movement to use boycott as a political tool. It claims that Facebook doesn't do enough to remove racist and hateful content from its platform.

It's convinced a series of major companies to pull advertising from Facebook and some other social media companies.

Among the latest to do so are Ford, Adidas and HP. They join earlier participants including Coca-Cola, Unilever and Starbucks.