Some businesses told CNBC they decided to stop advertising with Facebook and Instagram due to the company's user data and privacy scandals.
On Dec. 19, David Heinemeier Hansson quit Facebook and Instagram. It was a decision he made alongside his business partners at software company Basecamp.
Investors are showing their forgiveness, sending the shares up 31 percent so far this year, though the stock is still well off its record high reached in July. Daily active users rose 9 percent in the fourth quarter from a year earlier to 1.52 billion. And eMarketer sees Facebook actually picking up some market share this year in the U.S., capturing 22.1 percent of digital ad spending, up from 21.8 percent in 2018.
"That made me realize that as far as I can tell they don't seem to have an internal moral compass besides doing what they're required to by law," Fox said."The least I can do is just not give them any money." "These are businesses that are reaching audiences they want to reach," said Sheryl Sandberg, Facebook's operating chief, at a conference in San Francisco in February."If you're a small business, you can't buy a TV ad even in a city and you can't put up a billboard and you can't buy a big newspaper banner. It's really the democratization of access that that technology allows.
LegalAdvice.com, a New York-based legal expert service run by attorneys and brothers David and Matthew Reischer, stopped buying Facebook ads last April, after previously spending $10,000 to 15,000 a year on them. Like User Camp, the brothers were offended by the Cambridge Analytica story. "I'm happy to say the performance of our organization didn't wane based on our decision," Kaykas-Wolff said."When we made the decision, we knew we'd have to work harder because Facebook had been a high performing channel."
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