Posts tagged with "company"

Cryptocurrency illustration by Heather Skovlund for use by 360 Magazine

The Richest Under 30: Sam Bankman-Fried

29-year-old Sam Bankman-Fried has made his mark in the world of crypto, rising to prosperity in such a short period of time as comparable to that of Austin Russell’s Luminar. But how exactly did he do it?

Sam Bankman-Friend is the son of two Stanford Law School professors who graduated with a degree in physics from Massachusetts Institute of Technology in 2014. Following his graduation from university, Sam worked for Jane Street trading ETFs from 2014 to 2017.

He created his first liquid crypto market business in 2017, more commonly known as Alameda Research.

In an interview with Forbes, he discussed the purpose behind the company, stating, “We saw that crypto was exhibiting all the signs that there would be a lot of demand for liquidity but with very little liquidity available. Everyone on the street was talking about crypto during that time.

“We were seeing huge price movements and inflows which clearly pointed to a lot of people from many different countries trying to buy many different varieties of crypto currencies using different acquisition methods. Despite how big it had become, it still had only been a few months. This meant that there had not been enough time for most of the buyers globally to onboard into the crypto ecosystem.”

Then, in April of 2019, Sam co-founded FTX, the cryptocurrency essentially “built by traders, for traders.”

FTX is primarily used by consumers to trade spot, futures, stock, leverage tokens and Non-Fungible Tokens (NFTS). The objective of FTX is “to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.”

In 2021 alone, FTX brought in $900 million from companies like Coinbase Ventures and Softbank, attributable to an $18 billion estimate, following another $25 billion valuation in October.

This success amounts to how Sam was able to make the Forbes 30 Under 30 Hall of Fame, naming him the wealthiest person in the world under 30. His net worth as of February 5, 2022, sits at $24.5 billion.

Portions of this revenue has been flowed into marketing for the company, as the FTX serves as “the official cryptocurrency exchange of the MLB.” FTX was noticeably seen throughout the World Series in signs, commercials and even patches on the umpires’ uniforms.

The company, too, houses the Miami Heat as the play in the FTX Arena. The rise of Sam’s business has been exponential, so much that he is richest person to have obtained wealth so rapidly behind Mark Zuckerberg, founder of Facebook.

What does the richest person under 30 plan to do with all this money?

Well, Sam prides himself on being a believer of “effective altruism,” a practice that involves making large amounts money to, in return, be donated back to boost one’s own influence.

One of his primary donations went towards the push for the removal of former US President Donald Trump from office. Sam donated a whopping $5.2 million to the Joe Biden campaign, which was the second greatest donation to the campaign following past New York Mayor Michael Bloomberg.

FTX Foundation contributes 1% of all net fees to active organizations around the world, while Sam himself has donated 0.1% of his own to issues surrounding voter registration, global poverty relief and artificial intelligence security.

Green Car by Mina Tocalini

Sesquicentennial of Pirelli

“What an original stroke, don’t you think? Look at that P…it looks elastic, like rubber”. These are the words that launched the celebrations of 150 years of Pirelli, with the setting of the Piccolo Teatro of Milan where a theatrical story brought together testimonials, voices, and images to represent a history of industry, culture, tradition, technology, and passion that began on January 28, 1872.

The most significant moments were revisited by Ferruccio De Bortoli, Stefano Domenicali, Paolo Mieli, Renzo Piano, Ferruccio Resta, and Annamaria Testa, alongside the Executive Vice Chairman and CEO, Marco Tronchetti Provera, and Alberto Pirelli, representing the bond between family and company. The event, conducted by Ilaria D’Amico, recounted Pirelli’s journey across three centuries through the things that most distinguish it: international scale, factories, relationship with culture and artists, creativity in communication, presence in sport and motorsport, a constant search for innovation, and cutting-edge technology.

“Today we wanted to take a journey together through history but with our eyes on the future. Anticipating change is what Pirelli has done for 150 years thanks to the solidity of its entrepreneurial culture and ability to be a protagonist of the present. These things have allowed us to reach this milestone with a brand established around the world. We felt it important to share this story with our city, our country, and all the international groups and communities that we work with every day. A thank you to all the 30,000 people who every day at Pirelli build our history”, said Marco Tronchetti Provera, Executive Vice Chairman and CEO of Pirelli.

The History

On stage at the Piccolo Teatro, immersed in a set made up of five large screens, four actors told the story of Pirelli, beginning with its history. Images, videos, and photographs of the past and present alternated with the voices of the actors, who revisited the company’s different moments together with Ferruccio De Bortoli, Paolo Mieli, Alberto Pirelli, and Marco Tronchetti Provera. The dialogue centered on the figure of Leopoldo Pirelli and his father Alberto through the recollections of his grandson. His role in the company’s contribution to the modernization and industrialization of the country was discussed.

A journey, Pirelli’s, began on January 28, 1872, by Giovanni Battista Pirelli, who at only 23 years of age bet on something absolutely new: rubber. In the beginning, the company produced insulators for telegraphs and cables that linked the most distant points of the newly born Italy. It grew rapidly around the world and produced objects of everyday use (from swimming caps to toys to raincoats) and tires for wagons and bicycles. From its birth, it focused on innovation; the company offered products that also become symbols of the country’s progress. But even Pirelli encountered obstacles: the failed mergers in the 1990s with Dunlop and Continental and the plan to integrate networks and content in telecommunications, pursued from the early 2000s through Telecom Italia and cut short by external interference. Crises were overcome restarting from the core business, leading the company to focus on tires. 

The factories

The journey onstage at the Piccolo Teatro continued with the exploration of the company’s industrial tradition. Through its factories, Pirelli put down roots in many countries, currently 12, building plants that are light-filled, safe, and sustainable. They are welcoming places for people working with passion and for industry 4.0 with simulators, artificial intelligence, and robots like MIRS invented by Pirelli itself. In summary, there are 18 beautiful and efficient factories, with Settimo Torinese the model, designed and built by the architect Renzo Piano. 

Culture, communication, and image

On its journey, Pirelli was always in dialogue with artists and intellectuals to keep an eye on society. It did so, and continues to do so, through innovative languages and instruments, such as the “Rivista Pirelli“, Pirelli Calendar, Pirelli HangarBicocca, publications and exhibitions of the Fondazione Pirelli, products of Pirelli Design, World Magazine, and the volumes of its Annual Report enriched with the contributions of artists and writers. The list to emerge from the Piccolo Teatro’s stage is rich and begins with the iconic Pirelli logo, born in New York at the beginning of the 20th century, with that long P which stretches as if it were rubber. The company experimented with new languages, produces tires, and interviews Umberto Eco. It talks with writers, philosophers, poets: from Carrère to Kureishi, from Elio Vittorini to Eugenio Montale and Salvatore Quasimodo. It hosts Luchino Visconti and John Cage and puts Carl Lewis in high heels.

These themes were addressed by Annamaria Testa, Ferruccio De Bortoli, Paolo Mieli, and Marco Tronchetti Provera—recounting different worlds with the underlying idea that when you are involved in the industry with passion you are also producing culture.

Motorsport and passion for sport

What is the passion that makes people excited at Pirelli? Motors. That is an area where technology is fundamental, as explained by Alberto Pirelli. Now, Pirelli is present in over 350 motorsport competitions. The Beijing-Paris of 1907 is particularly memorable. Prince Scipione Borghese, driving an Itala equipped with Pirelli tires, covered 17,000 kilometers to finish 20 days ahead of the team in second place. This was a great success that transformed mobility into innovation and spectacle, and competitions into open-air laboratories. The onstage discussion of the greatest motorsport competition involved Stefano Domenicali, who now heads Formula 1, on the eve of an important change: the introduction of 18″ tires in a competition where, in the midst of Italian flags, there is also Pirelli’s. For Pirelli, however, sport is not limited to motors, but also football, cycling, winter sports, and sailing, with Luna Rossa.

Innovation, research, product

History reveals that Pirelli is a company that always moves with its eyes on the future. “Look inside to understand, to discover new solutions,” was once said Mr. Emanueli, who signed many of the 6,700 patents registered by Pirelli in 150 years. A lesson told by Mr. Emanueli is now known by the over 2,000 people who work in Research & Development, a sector of fundamental importance for the company. Its collaborations with leading universities (over 50) are also fundamental, as explained by Ferruccio Resta, who tells Ilaria D’Amico also about the relationship of reciprocal inspiration that links Pirelli and the Politecnico di Milano.

The “heirs of Emanueli” are involved in managing the acceleration of innovation, as in the case of electric vehicles, where Pirelli is already present with Elect, a package of technological solutions ad hoc to handle the different weight, acceleration, and consumption of these vehicles. Also, new connected products like the Cyber Tyre, with sensors that supply real-time information to the driver, are being developed. 

At the center, as always, there is natural rubber with which Pirelli produced the world’s first FSC (Forest Stewardship Council) certified tire, testifying to a 100% sustainable supply chain. A great safeguard for the environment occurs, for example, with Pirelli’s participation in the Birdlife project to conserve biodiversity in Indonesia. Thanks to its commitment at the social, environmental, and economic levels, Pirelli finds itself at the top of the most important sustainability indices.

Graham & Brown illustration by Heather Skovlund for 360 Magazine

Graham × Brown

­­This February, UK-based wallpaper and paint company, Graham & Brown, kicked off a year-long celebration of its 75th anniversary.  Founded in Blackburn, Lancashire in 1946 by childhood friends, Harold Graham and Henry Brown, this business has been family-run for 75 years, proving that quality craftsmanship, sustainable practices and innovative design always stands the test of time. 

As part of Graham & Brown’s 75th anniversary they have released a limited-edition “Through The Decades” collection that pays homage to the styles and tastes of the 1940s-2010. The full 8-piece collection is now available in the US + Canada. 

An evocative tribute to the nostalgic, the Through the Decades collection reflects on the impact that each decade has had on home trends, and the ways in which wallpaper as a medium has embodied them. 

As with every Graham & Brown wallpaper in the broader company collection, each Through the Decades design is paired with a complementary hero paint color as well as three coordinating hues to promote harmonious design and a synchronous living space.

A portion of the proceeds from this collection will be donated to the Community Food Bank of New Jersey, an organization local to the brand’s US offices, a commitment made in lockstep with Graham & Brown’s pledge to raise £75,000 (about $105,000) for charities in 2021.  

Graham & Brown Collection
Lauren Rottet courtesy of Sarah Fletcher for use by 360 Magazine

Rottet Studio Acquires Houston Headquarters

Houston architect and interior designer Lauren Rottet, closes on property for a new Houston headquarters, Rottet’s plan includes designs for new construction along with restoration of an historic building

Lauren Rottet, FAIA, FIIDA, internationally celebrated architect, designer and founding principal/president of Rottet Studio, has closed on two adjacent properties totaling 1.72 acre located in the Briar Hollow neighborhood, which encompasses a house by iconic Houston architect Howard Barnstone built in 1960. Noted for his modernist style, Barnstone’s clients included Houstonians John and Dominique de Menil, who funded the Rothko Chapel, which was also designed by Barnstone with Eugene Aubry and Philip Johnson.

Houston’s population has grown exponentially in the past decade, as noted in the recent 2020 census and Rottet’s investment in her hometown is no coincidence. During the pandemic she decided to take steps in the development of her own property and purchased these unique lots with plans to restore the Barnstone structure as well as build an adjacent office. “We don’t want our new building to look like we’re trying to match a mid-century modernist style,” says Rottet about her concept for the new build, adding, “We want it to be constructed of glass because the site is so beautiful.” The remodeling of the Barnstone-designed three-story house, which was modeled on Mies Van Der Rohe’s Farnsworth House, will include a space that will serve as a showroom and accommodate furniture and accessories from the Rottet Collection. The new building is being envisioned as a new iteration of a hybrid office and will also include space for Rottet Studios’ design team and administrative staff. While Rottet does not anticipate everyone coming into the office every single day, “We need a desk for everybody, as well as a parking space,” she states. Detailed plans for the property are pending. Purchase price undisclosed.

About Lauren Rottet/Rottet Studio

Lauren Rottet is the Founding Principal and President of Rottet Studio, an international architecture and interior design firm, recognized as one of the Top 3 Most Admired Design Firms in the World. Their extensive portfolio of residential, hospitality, corporate and maritime projects for the world’s leading companies and brands, includes: Goldman Sachs, Disney, BGC3, New York Stock Exchange, Target, Four Seasons, Langham, Starwood, Marriott, Hyatt, Hilton, Belmond, Viking Ocean Cruises and more. “Rottet is facile whether it’s a client’s private home or a million-square-foot project. I am not sure I have seen someone who is as skilled in such a wide vernacular of design styles from contemporary minimal to elegantly traditional in such an authentic manner.”– from Authentic Design, Paul Goldberger.  Rottet’s product designs have received many accolades, including Interior Design’s Best of Year, four gold medals for Best of NeoCon and four Chicago Athenaeum Awards.  She serves on the board of the Contemporary Arts Museum Houston.

Learn more about Lauren and Rottet Studio by checking out their website here.

Sceenic illustration by Heather Skovlund for 360 Magazine

Sports Innovation Lab × Sceenic

Sceenic, a leading software solutions provider for real-time experiences, has been named a Game Changer in the growing Co-Watch trend in the latest Sports Innovation Lab Power Play Index.

Sports Innovation Lab’s Power Play Index for the Fluid Fan Behavior of Co-Watch identifies those companies that are best positioned to create immersive viewing experiences for fans at home. Sceenic is the only Game Changer in the index, which charts the top 10 technology providers that offer co-watch solutions in the market.

The Power Play Index ranks companies in two categories: 

  • Technology Alignment: determined through a company’s signal score as it relates to watch parties, video chat, and voice chat.
  • Market Validation: determined through a company’s signal score as it relates to leagues, venues, people, and partners.

“When we publish a Power Play Index, we let the data do the talking. Our methodology identifies companies with both the market validation and technology depth that allows them to enable the Fluid Fan,” said Josh Walker, Co-founder and President of Sports Innovation Lab. “Sceenic is our Co-Watching Game Changer for 2020, proving that powerful co-watching technology isn’t the future, but the present.”

Sceenic is identified as the highest-ranking company for each measure due to the seamless turnkey nature of its offering for video, OTT, IPTV or STB providers, and the ease of integration for the Sceenic Watch Together SDKs and APIs into existing platforms with customization. The report also noted Sceenic’s partners and the experiences that they power in the market for clients such as BT Sport (UK), NPO (NL), ScreenHits TV (EU and US), LaLiga (ES), among others.

Key facts:

  • Sports Innovation Lab focused their recent fan behavior research on “Co-watch” presented in the Power Play Index. Getting fans to watch sports content – a live game, a recorded stream, or highlights – is simply getting them to show up. To keep Fluid Fans hooked, to get them coming back more frequently, and for longer periods of time, sports organizations must enable them to learn more about the sport and the athletes. When fans learn, they dive deeper into storylines, get invested in matchups, and come back again and again because they have a greater appreciation for the sport. When fans watch more, revenue opportunities from sponsorships, as well as ancillary behaviors like shopping merchandise or betting, increase
  • Sceenic is a leader in proving co-watch solutions to enhance the fan experience inside their clients’ platforms. Sceenic created the Watch Together software solution in 2013 to provide Broadcast, Telcos and Media companies with an engaging experience inside their platforms. The technology is available to be quickly deployed for video, OTT, IPTV or STB providers to integrate into their existing platforms
  • Sceenic was the first company, in 2019, to showcase and offer the Watch Together software solution on 5G
  • EE (the UK Telco) launched Matchday Experience on the BT Sport app in October 2020, with all BT Sport customers able to access the service from January 2021
  • BT Sport’s Watch Together is available on all broadcast content, 24/7 and on all devices (mobile, tablets, TV)
  • Powered by Sceenic during the 2020 Tour de France, NPO, the Netherlands Public Broadcaster enabled their users to meet the former cyclist Michael Boogerd inside their NPO Start web platform to share insights, answer questions and take online selfies with fans. 

“Seven years in development and refinement, our Watch Together technology stack is proving its worth in large scale deployments with BT Sport, T-Mobile Germany, NPO – Tour de France and others,” said Paul Bojarski, CEO, Sceenic. “What is now exciting is seeing how Watch Together actively supports our customers’ business objectives: the organic multiplier effect it brings to subscriber acquisition and retention, the powerful compliment of C2C word of mouth recommendations to machine learning, and the emergence of wholly original in-room interactive marketing/advertising opportunities.”

About Sceenic

Sceenic is an innovator and leader in understanding today’s customer behaviors and their expectations. In 2013, the company created the Watch Together software solution, adding value to fan-engagement and keeping the conversation within their clients’ platforms: BT Sport, T-Mobile Germany (Deutsche Telekom), NPO, ScreenHits TV, LaLiga, Virgin Connect, WeLoveGaming eSports, FIFAe, among others. You can read more about Sceenic here.

About Sports Innovation Lab 

Sports Innovation Lab is leading a sports research revolution. Sports Innovation Lab exists to educate clients on the technological possibilities for their brand and how to ultimately drive value to the end consumer: The Fluid Fans. Sports Innovation Lab inspires brands to create breakthrough fan experiences through data-driven technology insights and industry-leading research. You can learn more about Sports Innovation Lab here.

Marvin Liao Joins FanVestor’s Advisory Board

Top venture capitalist and former Yahoo! senior executive Marvin Liao has joined the Advisory Board of global fintech fan investment and commerce platform FanVestor, the announcement was made today by company CEO Michael Golomb.

“Marvin’s expertise and proven track record are unmatched in the industry.  He managed one of the most successful accelerators, maturing and investing in more than 400 start-ups,” comments Golomb. “This combined with his vast global professional experience working at Yahoo! spearheading the company’s expansion in all important global markets make him a valuable addition to FanVestor’s Advisory Board.”

On the Advisory Board, Liao joins recently appointed members former President/CEO, DASAN Zhone Solutions Yung Kim and former PINTEC executive Alan Qiu.

Marvin Liao is an investor, executive coach, and formal advisor to several large family offices. Previously, he was a Partner at Venture Capital Fund 500 Startups, running the San Francisco-based accelerator program, as well as investing in seed-stage start-ups. He has invested in over 414 pre-seed and seed-stage startups during the six years spent there.

Liao also spent over a decade as a senior executive at Yahoo!, boasting an extensive operating experience expanding businesses across Asia, Europe, Latin America, and the United States. Liao presently serves on the boards of directors and advisory boards of several Internet advertising and ad technology companies around the world. He also is a mentor for a number of global accelerator programs.

FanVestor offers all-in-one commerce, auction, investing, and sweepstakes platform designed specifically to meet the needs of celebrities. Founded by Michael Golomb, an innovator in the world of business and fintech, FanVestor’s robust technology platform will allow current and former athletes, media and music celebrities, fashion icons, and artists to leverage their influence by offering their fans an opportunity to participate in their latest projects or charitable initiatives.

The company’s leadership team and Board of Directors is highlighted by COO Larry Namer, founder of E! Entertainment, and also includes former News Corp. executive Marty Pompadur, former CEO of Warner Brothers Music, Phil Quartararo, and former President of Korea Telecom, Yung Kim, and several other successful executives.

Kaelen Felix Illustrates a Healthcare Article for 360 MAGAZINE

Authenticx x Healthcare Companies

Healthcare companies are at the center of so many debates right now, and their involvement in the pandemic is one of the biggest.

Having to answer customer questions while COVID-19 impacts the nation in a manner unprecedented in our lifetime can be a challenge, but Authenticx is offering advice to companies attempting to provide answers.

Authenticx CEO Amy Brown said the upcoming flu season will bring about more questions, and we can use the past several months to prepare.

“Americans are tuned into what healthcare experts are saying like never before. We’re urging healthcare providers to seize this opportunity to listen to the concerns of the public and use their resources to provide clear guidelines and straightforward advice so healthcare consumers can make the best decisions to protect themselves and others,” Brown said.

Based on 45,000 data points pulled from customer conversations, Authenticx was able to determine three main concerns regarding coverage. The three concerns are as follows:

1. Contraction Risk: Patients have divided themselves into different demographics trying to determine the possibility of contracting COVID-19, and the flu will only make it more difficult to determine. Customers called their healthcare providers to ask questions like:

  1. Should I get my flu shot this year or does that lower my immune system?
  2. Is there anything I should know about flu shots relative to my specific treatment plan?
  3. Should I quarantine if I think I have the flu?
  4. How do I know if I have the flu or COVID-19? What should I do about that?

2. Flexible Payment Options: Unstable employment and loss of insurance have been devastating results of COVID-19, but customers are still trying to remain safe. Customers reportedly asked how to proceed forward with healthcare given limited financial flexibility. Those concerns are not likely to curtail in the very near future.

3. Supply Chain & Access to Medications: With COVID-19 taking priority in national health, many patients expressed concern about getting medication they required prior to the pandemic. Issues with the mail system could also cause consumers to panic if their medication sees shipping delays or problems. Between flu shots and COVID vaccines, drug manufacturers are being kept busy. Some worry they’re too busy to handle normal mandatory medication.

Brown said healthcare companies can implement a listening system for customers with these questions by doing the following:

1. Listen at Scale: It will be nearly impossible to give full attention to each and every customer. The goal should be to prioritize the most important questions and select customer interactions to monitor. Determine a specific sample size suited to the customer base and use that sample to select questions and customers to address specifically.

2. Be Strategic: Listening can provide insight when choosing a strategy for engaging with customers. The customers will tell companies what they are hoping for in terms of service, and that information can be used to change for the better. Once a strategy is solidified, deploy resources to give the customers what they hope to receive from the company.

3. Move Fast: Begin moving on customer questions right away. As news regarding healthcare develops, so do the needs of the customers. Concerns not handled right away could get lost in the shuffle in an ever-developing news cycle, and customers want their problems solved in real time.

To see a full step-by-step guide on how to properly serve healthcare customers right now, you can click right here.

Positive Goya Illustration

Goya Boycott

By Eamonn Burke

A boycott of Goya foods, a major producer of beans and an essential good for many families, has launched after its CEO Robert Unanue praised President Trump in a speech at the White House on Thursday:

“We are all truly blessed … to have a leader like President Trump who is a builder,” said Unanue.

Immediately, many prominent Hispanic figures such as Congresswoman Alexandria Ocasio-Cortez denounced Goya and Unanue, and hinted in a tweet she would boycott the company. Julian Castro, a former Housing and Urban Development Secretary, urged people do to the same despite the prominence of Goya in Latin American homes. The resistance comes from the public as well, as the hashtags #boycottGoya and #Goyaway have trended in recent days. Meanwhile, President Trump took to Twitter saying “I LOVE @GoyaFoods!”

Unanue, however, is not apologizing for endorsing Trump and is labeling the boycott as a “suppression of speech”. He was proud to support Trump, and also to say that Goya would be donating 2 million cans of food to American Food Banks. He also stated that he would be “honored” to be a part of the Hispanic Property Initiative, which was signed by Trump at the event with a goal of expanding “access by Hispanic Americans to educational and economic opportunities.” The CEO also has a extensive history of donating to Republican candidates and initiatives.

“If you’re called by the president of the United States, you’re going to say, ‘No I’m sorry, I’m busy, no thank you?’ I didn’t say that to the Obamas and I didn’t say that to President Trump.” said Unanue in an interview with Fox News on Friday. Republicans like Ted Cruz and Matt Schlapp and publicly defended the CEO while denouncing “cancel culture” on Twitter.

The unwavering support of Unanue is perplexing, when considering Trump’s history against Latinx people. In 2016, his presidential campaign was largely structured on restricting immigrants, especially from Mexico. In one speech he referred to the people coming from Mexico into the U.S. as “rapists.” He has relentlessly tried to end DACA, a program which protects immigrants, and offered little support to Puerto Rico in the midst of hurricane devastation. The Trump administration works closely with ICE and has detained immigrants at the US-Mexico border in concentration camps with inhuman men conditions.

It is also confusing when considering Goya’s history as a company. Goya is currently the largest Hispanic-owned company in the nation, but it began as a small store in Manhattan run by Spanish immigrants

As for President Trump, who is already unpopular with Hispanic voters, it is possible that he sees a reduction in the 26% of Latinx voters who support him.

Facebook Ad Boycott

By Eamonn Burke

The social media platform Facebook is making policy changes after Unilever has removed ads from the site, as well as Twitter. They join a group of corporations such as Honda, Verizon, Ford, Clorox, and Denny’s, who have come together to boycott the site, as called for by the NAACP and the Anti-Defamation League as a way to pressure tech conglomerates to make change. Some companies are pulling ads indefinitely, and some have pledged to pull them for the month of July.

These new policies involve designating posts that are in violation of existing policies but still “newsworthy”. Twitter has already adopted this method, allowing them to label some of President Trump’s tweets as violations. Facebook claims that it allocates a large budget to keeping content safe and removing hate speech using AI that is 90% effective, and also that the company never makes policy changes based on money. However, a group called Stop Hate For Profit, who called for the boycott, want to see more change:

“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.”

Unilever supplied upwards of $42 million dollars of revenue for Facebook in 2019, so it is no doubt that their absence will be damaging. Facebook is also a huge source of profit for the companies themselves, so it is an impactful decision to stopping putting ads on the site. Shares of Facebook and Twitter have already gone down more than 7% as of Friday. Other massive companies like Procter and Gamble have pledged to do the same in the face of discriminatory content.