Brands as large as Coca Cola and Starbucks have temporarily pulled their advertising from Facebook in protest at the company not taking a stronger stand against the hate speech its platform hosts and does not remove.

The Information cited employees who attended the meeting, who said Zuckerberg commented, “We’re not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue,” showing his rigid attitude to how Facebook operates as a business.

A Facebook spokesperson confirmed to the Guardian that the quotes were accurate.

Zuckerberg is to meet on Wednesday the organisers of the boycott who so far have got 500 companies to suspend their advertising on Facebook. They feel that hate speech is still widespread on Facebook and that the company could be taking this content down.

The boycott is designed to noticeably damage Facebook’s income, shocking the behemoth into action. But Nick Clegg, former UK deputy Prime Minister and Facebook’s VP of global affairs and communications acknowledged that “many of our critics are angry about the inflammatory rhetoric President Trump has posted on our platform and others, and want us to be more aggressive in removing his speech”, but suggested that Facebook does not benefit from hosting such content.

But Zuckerberg appears to be resolute in his refusal to change Facebook’s stance, continuing his iron-grip control of the company he founded.