This is a great step at stopping not just the spread of hate speech but also at stopping hate itself. Platforms like Twitter and Facebook have done and continue to do too much to encourage and then monetize rage.
Haha. Good luck. You have no idea how these platforms make money. Starbucks, Coca Cola don't spend much on these platforms anyways. They are just using this as an opportunity to gain brownie points without incurring much harm anyways. Performance advertisers are their bed and butter. For example, that app install ad or that ad from Direct to Consumer advertiser (for example Allbirds) are the ones who cherish FB. They must be really happy since their CAC just went down as brand advertisers are running away! THey will literally double down spending on FB/Twitter.
Starbucks spent close to $100 million advertising with Facebook
Doesn't matter. That money will be replaced by performance advertisers. Top 100 Fortune brands make up 6% of FB ad revenue. This is why all these boycott FB ads doesn't make any sense. THe only thing which will hurt FB is users boycotting - not advertisers. There are always opportunistic advertisers who will want to gain access to cheap(er) inventory to reduce their acquisition costs.
Given the pandemic situation, Starbucks needs that $100m more than Facebook does. Their actions won't change or address anything. So let them save it.