Re:Verizon suspends advertising on Facebook, joins growing b...
by roenxi on Friday June 26, 2020 @05:30AM
(#23650206)
Verizon's earnings are down something like 3% YTD from their guidance [0] and their stock price is down 10%. Fortune 500 companies do not prioritise doing social good over profits when their share price is down 10%. Too many people are losing too much money; these are numbers that are supposed to go up.
It is obvious Verizon is taking action in context of the Facebook boycott because they've told us that in a press release. But it is a very safe bet that the decision is made accompanied by data that says "Facebook ads have not been especially cost effective for us over the last 12-18 months" and was probably already a decision in the works prior to learning about the boycott.
There are ~8 billion people in the world. Corporate executives are the tiny fraction of that population who are both hyper-competent and hyper-motivated by money. They did not suddenly wake up this morning and decide to try and do more good in the world than they were yesterday, and the odds are bad that they made this call based on nebulous "oh there is a boycott this month we just realised Facebook is nasty" style considerations.
It is obvious Verizon is taking action in context of the Facebook boycott because they've told us that in a press release. But it is a very safe bet that the decision is made accompanied by data that says "Facebook ads have not been especially cost effective for us over the last 12-18 months" and was probably already a decision in the works prior to learning about the boycott.
There are ~8 billion people in the world. Corporate executives are the tiny fraction of that population who are both hyper-competent and hyper-motivated by money. They did not suddenly wake up this morning and decide to try and do more good in the world than they were yesterday, and the odds are bad that they made this call based on nebulous "oh there is a boycott this month we just realised Facebook is nasty" style considerations.
[0] https://www.investors.com/news/technology/verizon-earnings-v...