Facebook should 'take the hit' to its finances and tackle advertisers' concerns, Jim Cramer says
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Facebook should "take the hit" to its finances and invest in the technology and manpower needed to properly moderate its platform, "Mad Money" host Jim CramerBest Buy, Coca-Cola, Verizon, and other large companies have joined an advertiser boycott, pausing their social-media spending to protest issues such as hate speech, misinformation, and voter suppression.
"Facebook has been trying to get away with this for a long time, and this seems to be one of those moments where big corporate America is not gonna take it anymore," Cramer said. Facebook CEO Mark Zuckerberg said last week that his company has already invested in platform moderation, and it recently introduced stricter content policies.Facebook should stomach the costs of stamping out bad behavior on its platform, "Mad Money" host Jim CramerThe social-media titan should invest in the artificial intelligence and the staff needed to properly moderate its platform, Cramer said.
Dozens of high-profile companies have pledged to pause advertising on Facebook — and other social-media websites in some cases — to protest issues such as hate speech, misinformation, and voter suppression. Best Buy, Coca-Cola, Ford, Starbucks, Verizon, and others have vowed to halt their spending. The movement is being spearheaded by civil-rights groups and their"Facebook has been trying to get away with this for a long time, and this seems to be one of those moments where big corporate America is not gonna take it anymore," Cramer said on CNBC.Read more:
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