Sponsored by the Las Vegas Antique Jewelry and Watch Show
Diamond Foundry Among Those Boycotting Facebook
Hundreds of companies have halted advertising on the social media site to protest its lack of policing hate speech and misinformation.
New York—Hundreds of companies are boycotting Facebook advertising over how the popular social media platform handles—or, rather, doesn’t—hate speech and misleading content, and the Diamond Foundry is among them.
The recent movement against the social media giant started with the “Stop Hate for Profit” campaign, backed by such groups as Color of Change, the Anti-Defamation League and the NAACP.
It asks companies to stand against hate speech and misinformation spread on Facebook by pulling their advertising dollars from the site.
About 99 percent of Facebook’s revenue stems from advertising.
The company has come under fire before for not taking a stronger stance on moderating or labeling questionable content, particularly Russian-backed ads in the lead-up to the 2016 election.
The recent protests against police brutality and racism seem to be taking the criticism up a notch, with Stop Hate for Profits writing on its website: “Let’s send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence.”
More than 400 companies have vowed to pull their marketing dollars from the site, including major corporations like The Coca-Cola Company, Adidas, Ben & Jerry’s, Dunkin’, Ford and Unilever.
In late June, San Francisco-based Diamond Foundry confirmed in a statement on its Facebook page that it would join them, pulling ads for its lab-grown diamonds from both Facebook and Facebook-owned Instagram.
Last month, Facebook Vice President for Public Affairs Nick Clegg told CNN he disagreed with the reason behind the protest, arguing Facebook doesn’t benefit from the hate speech on its platform.
He also said the site removes about 3 million posts deemed to be hate speech each month.
CEO Mark Zuckerberg, meanwhile, recently announced an expanded policy to crack down on voter suppression and hate speech on Facebook, including banning ads that target minorities or immigrants, labeling newsworthy posts that violate its policies, and labeling all voting-related posts and ads that contain links to authoritative information.
Still, for Hate for Profit, the moves aren’t enough.
“None of this will be vetted or verified—or make a dent in the problem on the largest social media platform on the planet,” the groups behind it said in a statement.
“We have been down this road before with Facebook. They have made apologies in the past. They have taken meager steps after each catastrophe where their platform played a part. But this has to end now.”
Facebook leaders
The coalition said the leadership gave them a “PR spin” rather than any meaningful solutions and noted the social media site hadn’t met any of its 10 demands for change.
The Facebook ad boycott is slated to run through the month of July.
The Latest
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.