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While they're entitled to do that, wouldn't it have made sense to boycott long ago when Eich helped found Mozilla?

Sounds like it only came out the Brendan Eich was homophobic when he recently supported overturning Prop 8.

Doesn't that predate his donation?

While it does, the donation was made 6 years ago. He has been CEO for less than a week. At the time he was CTO.