Zuckerberg Defends Political Advertising
After Jack Dorsey announced that Twitter would abandon political advertising, Facebook CEO Marker Zuckerberg continued to state that he refused to conduct factual checks on political-advertised ads. “In times of social tension, there is often an impulse to regain freedom of speech. In the long run, resisting this impulse and defending freedom of speech is most beneficial to us.”
In the third quarter of 2019, Facebook’s monthly active users increased by 2% to 2.45 billion, exceeding expectations. In the subsequent earnings conference call, Zuckerberg spent a lot of time defending Facebook’s loose political advertising policy. You can read the complete statement he prepared here.
Zuckerberg wants to refute Facebook’s view of retaining these ads for profit. He explained: “We estimate that these ads from politicians will be less than 0.5% of our revenue next year.” For reference, Facebook’s profit in the 12 months to the third quarter of 2019 was $66 billion, so Facebook may next year. Earn $330 million to $400 million in political advertising. (Update: We didn’t know before that whether the ads and PAC ads were included in Facebook’s 0.5%, but the company now says that this number only applies to ads directly operated by politicians.)
Zuckerberg also said that for platform health, Facebook removes 50 million hours of viral video viewing from the platform every day, but this affects ad viewing and company stock prices. Therefore, Facebook is clearly not just about pursuing profits.
Zuckerberg also tried to refute the theory that Facebook allows the wrong message in political advertising to cater to conservatives or avoid their allegations of platform bias. “Some people say that this is only a political plan. We don’t really believe in how we behave. We just try to appease the conservatives.” He said, “Frankly, if our goal is to make both parties happy, then our Work is not very good, because I am sure everyone will be very disappointed.”
Zuckerberg did not ban political advertising, but said it would increase transparency in terms of advertising display, advertising costs, and where it is placed. “I think the better way is to work hard to increase transparency. The ads on Facebook are more transparent than anywhere else. We have created a political advertising archive that anyone can look at each ad carefully.”
He mentioned that “Google, YouTube and most Internet platforms” operate political advertising. He also seems to want to mention Twitter, but suddenly stopped. An hour ago, Twitter announced that it would abandon all political advertising. Zuckerberg did not mention that both Pinterest and TikTok banned political advertising.
Hundreds of Facebook employees call on the CEO to adjust the policy, but it doesn’t help. Zuckerberg’s conclusion is that no one can blame, Facebook did not think deeply about this issue and its impact on the downstream. But if Zuckerberg chooses to change, then he really gives himself a chance. “I have thought about whether we should sell political advertising and I will continue to do so.”
Dorsey previously wrote on Twitter: “We have decided to stop all political advertising on Twitter worldwide. We believe that political influence should be won by ourselves, not bought.” Democrat Rep. Alexandria Ocasio-Cortez expressed support for Twitter, and Trud campaign team manager Brad Parscale believes that This is a “very stupid decision.”
Dossi slammed Zuckerberg’s point of view and refuted his common arguments about allowing false information in political advertising. “Some people think that our actions today may be beneficial to the. But we also see that many social movements have become very large without any political advertisements. I believe this will only increase. As of March this year, Trump spent more on Facebook ads than all Democratic candidates. Obviously, wealthy incumbents can benefit from Facebook’s policies.
Zuckerberg Defends Political Advertising - /10
After Jack Dorsey announced that Twitter would abandon political advertising, Facebook CEO Marker Zuckerberg continued to state that he refused to conduct factual checks on political-advertised ads.