15 April, 2022

Facebook — Meta shareholders to vote on reducing misinformation

icon facebook,Shareholder,Zuckerberg
Facebook - Meta shareholders to vote on reducing misinformation

Facebook / Meta shareholders can vote until May 25, 10AM PDT to support Proposal 7, which compels the corporation to confront the cost of the harm caused by its distribution of misinformation.

Defenders of Democracy Against Disinformation (DDAD), a nonprofit is asking Facebook / Meta shareholders to vote for Proposal 7 and to reach out to institutional investors to support Proposal 7 as well. The Shareholder Commons, an independent nonprofit organization to addressing systemic issues that hinder a just and sustainable economy also supports Proposal 7.

This blog explains how DDAD is fighting strategically against a mega billion dollar corporation with its army of consultants and lobbyists using mostly free apps.

How to organize a shareholder appeal with mostly free apps

How the DDAD Action Button works

Action Button urges Facebook Meta shareholders to support Proposal 7 in order to pressure Facebook to stop spreading misinformation that is dividing America

The Shareholder Motion

Shareholder Proposal 7 is on page 72 of the official Meta - Facebook Proxy Statement for the annual meeting to be held on May 25, 2022.

Proposal Seven: Shareholder Proposal Regarding Report on External Costs of Misinformation
ITEM 7: Report on external costs of misinformation
RESOLVED, shareholders ask that the board commission and disclose a report on (1) risks created by Company business practices that prioritize internal financial return over healthy social and environmental systems and (2) the manner in which such risks threaten the returns of its diversified shareholders who rely on a productive economy to support their investment portfolios.

Read the full DDAD call to action to Facebook / Meta shareholders here

Who holds the power at Facebook?

Mark Zuckerberg has the largest voting power although others own more shares. Mark has retained power by creating two different classes of shares in which the class that he owns has more voting power. Mutual funds and pension funds own 80% of publicly traded shares. Recognizing this, DDAD asks individual shareholders to not only vote their own Facebook / Meta shares, but to also contact Mutual fFunds and Pension funds in which they are invested, asking them to vote for Proposal 7.

Mark Zuckerberg manages to control the majority of voting rights at Facebook though he holds less shares than others
Read the full Meta / Facebook Proxy statement here
Large investors in Facebook Meta being asked to vote for Proposal 7
Read the full DDAD proposal here

Making the case to cut Facebook misinformation

DDAD chose a short video testimony of Frances Hauge, Facebook whistleblower. This was combined with a short description and call to action button. This information was combined in ACTION BUTTON to create a link to be shared. Clicking the link starts Frances' video starts playing automatically along along with description of the shareholder appeal and call to action button. The button directs you to the Google Doc which has more details about Motion 7 and details of the people to contact. Learn more about using an Action Button for you campaign here.

Support Proposal 7, the Facebook/Meta shareholder proposal that requires a REPORT ON THE EXTERNAL COSTS OF MISINFORMATION. Vote before May 25, 2022, the date of the VIRTUAL META ANNUAL SHAREHOLDER MEETING.

Help reduce Facebook misinformation that's dividing America

Action Button makes the case for Shareholder Motion with a call to action button
See the Action Button in action here

Memes to publicize Proposal 7

Memes were created using cartoons from Political Cartoons for supporter to share to build more support for Proposal 7.

Memes ask Facebook Shareholder to support Proposal 7

The Shareholder Commons

The Shareholder Commons is an independent nonprofit organization founded in 2019 that leverages existing platforms and addresses systemic issues and structures that hinder a just and sustainable economy. It strives to break free from the business case paradigm. In order to create a business environment where any company can authentically prioritize our planet and the people who live on it, we must find a way to deploy private capital in a manner that prioritizes vital environmental and social system over individual company profits, while preserving the critical pricing function of free markets.

Defenders of Democracy Against Disinformation 

Defenders of Democracy Against Disinformation is a nonprofit clearinghouse of concrete actions to fight against the normalization of disinformation. Everyone developing and promoting DDAD campaigns is a volunteer. All of the wherewithal for campaigns has been contributed by the five co-founders, who live in different states but are united in work to prevent our country from drowning in a sea of lies and conspiracy theories. Learn more.

TakeAway: Think strategically. Mobilize shareholders to pressure corporations harming democracy and the environment to do better through shareholder motions.


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