Shareholders, organized in part by Open MIC, have long been calling on Facebook to address critical issues, such as the platform’s role in enabling election interference, violations of privacy, “fake news” distribution, online hate speech and sexual harassment. Yet CEO Mark Zuckerberg and the company’s senior management have consistently brushed this all under the rug – until the recent Cambridge Analytica data scandal and other controversies finally forced these problems into the light and Zuckerberg himself into congressional testimony.
Facebook, Google and Twitter Investors Demand Answers and Accountability Following 2016 Election Interference
Shareholders in Facebook, Google and Twitter with assets worth more than $25 billion have filed proposals with the companies in the last week demanding answers and accountability related to foreign interference in the 2016 presidential election, as well as threats posed by the growth of hate speech and disinformation on the three platforms.
Fake News Is Focus Of New Shareholder Advocacy Push At Facebook And Google
Concerned that long-term shareholder wealth may be at risk if Facebook and Google do not do enough to “address fake news and hoaxes,” Arjuna Capital, in partnership with Baldwin Brothers, Inc., is asking the two tech giants (proposals to Google here and Facebook here) to evaluate the impact fabricated content is having on their platforms and businesses.