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Facebook’s actions have cost all of us, says Salesforce’s Benioff


Salesforce CEO Marc Benioff on Tuesday ripped social media companies, including Facebook by name, for failing to address misinformation on their platforms.

In an interview with CNBC’s Jim Cramer on “Mad Money,” Benioff said that while Facebook’s business has continued to perform well despite a series of scandals in recent years, it’s come at high societal costs.

Benioff stated that when you look at the current pandemic and the problems in the political process, it is misinformation that has been spread by social media networks such as Facebook. This is something that all of us need to be aware of.

The billionaire tech entrepreneur said, “It might not have cost them… but it has cost us all.” “Someone will say, “Wow. This is where many of the problems are coming from. When you see the extent of the pandemic as well as the sheer volume of incorrect information on the internet, you realize that it must end.

Benioff has not been shy about criticizing Facebook in the past, including in 2018 when he suggested the company’s platform was addictive and damaging for society. “Facebook is the new cigarettes,” he said then.

Benioff’s comments Tuesday follow a series of revelations in the Wall Street Journal that shed light on how Facebook has repeatedly elevated profits over the health and safety of its users. Facebook has responded to that report and accused the newspaper of publishing “mischaracterizations of our work” and questioning the motives of the company.

Benioff referred to the Wall Street Journal reports and stated that he thinks it is clear that trust at Facebook has low value.

“I believe that redemption is possible, and I am open to pardoning. They will change one day, I pray, but right now, it’s amazing. Benioff stated that it was unacceptable for such an important and large company to display this type of behavior.

CNBC reached out to Facebook for clarification on Benioff’s comments but Facebook didn’t immediately reply.