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Money Talks from The Economist

Money Talks: Unfriending Facebook

Money Talks from The Economist

The Economist

Finance & Economics, Business News, Economy, News, Business

4.41.2K Ratings

🗓️ 30 June 2020

⏱️ 25 minutes

🧾️ Download transcript

Summary

Companies including Unilever, Coca-Cola and Verizon are pulling their ads from Facebook because of its content-moderation policies. Does this spell trouble for the social-media giant? Also, why investors’ love of commercial property is being tested. And, e-sports v traditional sports. Rachana Shanbhogue hosts. 


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Transcript

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0:00.0

Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey.

0:11.0

So no excuses not to visit your in-laws this Christmas.

0:16.5

Trains now on Uber. T's and C's apply check the Uber app. Major companies are pulling ads from Facebook because of its content moderation policies.

0:31.0

Does this spell trouble for the social media network?

0:36.0

Hello, you're listening to money talks on Economist radio, our weekly

0:39.9

podcast on the markets, the economy and the world of business.

0:43.0

I'm Rach Nachanbogue, the Economist's finance editor,

0:47.0

and coming up on today's show,

0:49.0

investors' love for commercial property is being tested.

0:52.0

No occupants, then no cash flow, and the value decline is going to be significant.

0:57.8

And video games have seen record sales.

1:01.2

Can they compete with sports in the long term?

1:04.0

The up-and-coming consumer is watching us, so I think this only can grow. First, a growing number of big brands have pulled their advertisements from Facebook.

1:22.8

It started with companies like the North Face and Patagonia,

1:25.8

but now more than a hundred firms have joined,

1:28.3

including Unilever, one of the biggest advertisers in America,

1:31.8

Starbucks, Coca-Cola and Verizon.

1:35.0

A boycott, led by some civil rights groups, urged advertisers to curb their spending on Facebook and other social media in July.

1:42.0

Their aim is to change the way that Facebook and the other platforms moderate hateful content.

1:47.0

Could this spark a crisis for the social media giant?

1:51.0

Companies say they're getting involved in this boycott because they too want to help stamp

1:55.5

out hate online and I'm sure to some extent that's true.

...

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