Blowback: UniCredit Becomes First Major Corporation To Sever Ties With Facebook Over Ethics

Facebook has lost a major advertiser, UniCredit SpA, which has severed all ties alleging that the social media giant hasn't acted ethically, reports Bloomberg - which notes that "other large companies" may follow suit. 

CEO Jean Pierre Mustier says the bank maintains that Facebook hasn't acted properly, and the Italian financial group will no longer have any type of business relationship with the Menlo Park, CA company. 

Mustier was referring to business activities including advertising and marketing campaigns, a spokesman for UniCredit said. The bank currently has a swath of Facebook accounts -- which are regularly updated. -Bloomberg

Facebook has come under intense scrutiny for failing to safeguard user data amid the Cambridge Analytica data harvesting scandal, revealed in March by The Guardian and The New York Times. The data from up to 87 million users, and possibly more, was found to have been "harvested" via the psychological profiling app "Thisisyourdigitallife" - which was created by two psychologists (one of whom currently works for Facebook), and was specially designed to collect and share information. 

Despite Facebook's attempts at damage control, UniCredit says they're done with the social media giant - and there have been others. Unilever UV and Sonos Inc. have also threatened to pull ads. 

In late July, Facebook’s shares fell over 20 percent after second-quarter revenue showed the first signs of user disenchantment in the midst of public scandals over privacy and content. The company has been under fire following revelations that personal information on as many as 87 million users ended up in the hands of Cambridge Analytica, a political consulting firm that worked on Donald Trump’s presidential campaign. Mozilla Corp., which develops the Firefox web browser, said in March it would pause its ads from appearing on Facebook as a result. -Bloomberg

Was UniCredit's decision really based on Facebook's ethics? Or was the data harvesting scandal perhaps a convenient excuse to disengage from an advertising model that wasn't worth the expense?

In late 2016, Proctor & Gamble cut $200 million in digital ad spending - including scaling back targeted ads from Facebook. In March, the company contended that too much digital ad spending is "a waste." 

Once armed with more measurement data, P&G discovered that the average view time for a mobile ad appearing in a news feed, on platforms such as Facebook , was only 1.7 seconds. The Cincinnati-based company also realized some people were seeing P&G ads far too many times. -WSJ

"Once we got transparency, it illuminated what reality was," said P&G's chief brand officer, Marc Pritchard. Ad fraud was another concern.

About a year ago, Mr. Pritchard publicly issued an ultimatum for tech companies to clean up the digital ad ecosystem or it would cut spending. He called on the industry to fix the rampant digital ad fraud and asked tech giants such as Alphabet Inc.’s Google and Facebook Inc. to implement safeguards to prevent ads from appearing around controversial content and to allow independent verification of their ad measurements. -WSJ

Whatever the case, Facebook has now lost a major corporate advertiser - will others follow suit?

Comments

Hugh_Jorgan ssk81646 Tue, 08/07/2018 - 11:32 Permalink

Social Media should be viewed as the book burners of our day, along with all the Politicos & Hollyweird types who support their decision select a partisan echo-chamber over objectivity and proper discourse.

If you agree do a web search for "intellectual dark web". Some awesome people and their podcasts and videos. This is discourse between some very smart individuals with very different backgrounds. If we want a restoration, this needs to be what our future looks like.

In reply to by ssk81646

847328_3527 Adolfsteinbergovitch Tue, 08/07/2018 - 12:12 Permalink

Shut FB down or regulate it as a PAC (political action committee) and ensure it files with the FEC (Federal Election Commission).

Farce Book is a political tool of the left and DNC to shut any freedom of speech of its opponents.

How about a list of the other companies that advertise on this hateful company? List them here so we can email our opinions to them.

In reply to by Adolfsteinbergovitch

spastic_colon macholatte Tue, 08/07/2018 - 11:20 Permalink

this just leaves more room for the yoga, starbux and rainbow coalition ads cuz everyone wants a piece of the antifa and blm clicks /s

the main reason they get away with the censorship and 1st amendment excuse is because people have the choice to NOT use them; FB keeps getting propped up because the banks require their employees to use the socials and have large holdings in their stock, this includes apple, linkedin and twitter....these firms then require you to update your IOS version which in many cases requires you to also buy a phone that supports that version......forced consumerism by your employer to support their holdings.

In reply to by macholatte

snblitz spastic_colon Tue, 08/07/2018 - 12:29 Permalink

people have the choice to NOT use them;

Facebook and other social media giant's trick is that they came into the marketplace hiding behind common carrier law.

This law protects them from liability for the things their customers post.

This law was originally for companies that delivered packages.  As long as they did not look inside the package and offered their services to all equally they would not be held responsible for what the package contained.

If Facebook did not hide behind common carrier they could be sued for anything that appears on their site.

But while Facebook hides behind the common carrier exception for liability, **they DO look inside the packages** and they **DO NOT offer their product equally to all.**

Each and every day Facebook commits crimes by the millions, few care, and you have little redress other than to beg.

In reply to by spastic_colon

True Blue macholatte Tue, 08/07/2018 - 14:43 Permalink

Well, today they announced that the "survival of (their) 'democracy' depends on banning" alternative sites that provide different information than that being promulgated by the propagandists of the MSM.

Thou shalt consume no propaganda but ours!

The sooner this whole gov't burns, the better.

In reply to by macholatte

takeaction SandiaMan Tue, 08/07/2018 - 10:59 Permalink

These companies and this CENSORSHIP.......this shit is going to BLOW UP in their fucking face.

To take down Alex Jones in a coordinated effort like they did....Google, Spotify, Apple, Facebook...etc.

I don't give a fuck what you like or hate about him...this is a guy passionate about his beliefs and has built a life trying hard....

Then in one day 2 billion youtube views... millions of followers...

All gone

Because "They" decide to.  

Wow.....nothing here that I can type can express my dismay at this.  It is so blatantly clear what is going on.  Alex must of been getting very close to something, or was growing so fast....He crushed CNN and MSNBC for followers and viewership.  Isn't that great...instead of making your company better  (CNN, MSNBC) just cry to the big corps to "Take them down".  And they did.  Can you imagine this shit happening in other areas.  I have had an Electronics store for years...can I just make a call and have the competition taken down.  Amazon and Ebay are selling some items cheaper than I pay...that is not right...Please wipe them off the net...thanks /s.  Folks....and Gentlemen....this is something big.  Even my Liberal leaning brother in law last night said "Something big is going to come of this...it is not right." We shall see.  Think this would be happening if Hillary were in office?

In reply to by SandiaMan

CatInTheHat takeaction Tue, 08/07/2018 - 11:11 Permalink

Wrong. Alex got taken down because he was circulating a petition to free Julian ASSANGE (that now has 85,000 signatures, up from 36,000 YESTERDAY)...

AND Infowars approached Julian's mother for an interview. 

It isn't about Alex. Ron Paul and antiwar were also censored .

All at the behest of DEMOCRATS AND some Republicans too.

Dems move to censor all platforms 

In reply to by takeaction

bowie28 takeaction Tue, 08/07/2018 - 11:12 Permalink

Alex Jones is most likely a pied piper / limited hangout and will be used to discredit all so-called "conspiracy theorists" by MSM.  They will find the most ridiculous clips of him saying outrageous things for dramatic effect and keep playing it over and over and try to conflate that with other groups of Trump supporters.  "They're all a bunch of crazies and their hate speech is dangerous" is the new narrative.

We may even get a false flag where some MK Ultra bot shoots a few MSM reporters, which of course will be blamed on Trump for rightly calling them enemy of the people...

This is the strategy they appear to be running with and it may work to some extent for a short time but these social media companies are in serious trouble.  TWTR also down 30% in the past week and they are going to be hit with more bad news and enforcement action from FCC, FEC, etc so its only going to get worse.

Cuckerberg and @Jack will likely be pushed out by shareholder actions and may even face criminal prosecution for the things they have done on behalf of deep state criminals.  And they deserve all of what's coming to them and more.

 

In reply to by takeaction

snblitz bowie28 Tue, 08/07/2018 - 12:34 Permalink

They will find the most ridiculous clips of him [Alex Jones] saying outrageous things

They do not use clips at all.

The MSM simply endlessly repeats their own statements that he said this or that, or he did this or that, without providing any evidence whatsoever.  No audio, No clips. No quotes.

It is quite incredible to see.  The coordination is also terrifying.

In reply to by bowie28

CatInTheHat takeaction Tue, 08/07/2018 - 11:14 Permalink

Wrong. Alex got taken down because he was circulating a petition to free Julian ASSANGE (that now has 85,000 signatures, up from 36,000 YESTERDAY)...

AND Infowars approached Julian's mother for an interview. 

It isn't about Alex. Ron Paul and antiwar were also censored .

All at the behest of DEMOCRATS AND some Republicans too.

Dems move to censor all platforms 

In reply to by takeaction

jin187 takeaction Tue, 08/07/2018 - 12:23 Permalink

I wouldn't know a damn thing about Alex Jones on socials and Youtube, because I listen to him on radio, or go to his site if I feel the need to see what he's up to.  This is what he gets for trusting a bunch of liberal cunts to be fair and impartial towards someone like him.  Let Alex Jones be a lesson to the lot of you.  Don't ever give liberals control of anything.  They have no morals, no principles, and no line they won't cross.  They WILL fuck you in the end.  It's just a matter of when.

In reply to by takeaction

0hedgehog Tue, 08/07/2018 - 11:00 Permalink

I am not a user of credit cards nor debt in general but this story makes me want to be! The world is a social marketplace and the market will eventually cast out the garbage and balance itself out. This will be a very painful process for some.

jin187 0hedgehog Tue, 08/07/2018 - 12:27 Permalink

Credit cards are great, at least for the people that are smart enough not to rack up 20k worth of charges for Taco Bell during college, or use them to make a down payment on a house or car.  They're no different than guns.  Great tools when placed in the right hands.  Not so much when an idiot gets one.

In reply to by 0hedgehog

motoXdude Tue, 08/07/2018 - 11:07 Permalink

Can't these phucktards ever learn that censorship has never worked and will never work?   Amazing the intelligence in Silicon Valley, but Common Sense, Integrity and Civics seem to be quite lacking in that region!

Nunyadambizness Tue, 08/07/2018 - 11:09 Permalink

Here's hoping the ALL pull their ads and Facecrook goes broke.  THEN I'd like to see Zuckerturd sued for his $3.5 billion in stocks sold earlier in the year--let him go broke as well, and possibly spend some time wearing a jumpsuit.