Economic giants like Goldman Sachs, JPMorgan Chase and Citigroup have announced that they will temporarily freeze all political contributions through their political action committees, while others like Marriott have announced more targeted donation breaks for officials who voted against certification of President-elect Joe Biden’s electoral college in victory.
What it means for technology: The social media giant is also the latest tech company to revamp its approach to political giving. Twitter last year the PAC shut down completelyThis is a sign that some Silicon Valley companies are wondering whether such political engagement is worth the potential headache.
Facebook’s move also comes as tech companies face scrutiny by Democratic lawmakers into their platforms’ role in sparking the violence that took place in Washington last Wednesday. The pro-Trump protest, which led to a full-blown riot in both houses of Congress, was planned on all social media platforms, and the rioters broadcast the events live in real time.
After the attack, Facebook boss Mark Zuckerberg announced on Thursday that the company would block Trump indefinitely, at least until Biden is sworn in. “