PROPOSAL NO. 5
STOCKHOLDER PROPOSAL REGARDING A REPORT ON OUR CONTENT ENFORCEMENT POLICIES
The New York State Common Retirement Fund
(co-lead
filer), 59 Maiden Lane,
30
th
Floor, New York, NY, 10038, has represented that it is the beneficial owner of 1,484,200 shares of Twitters common stock and Arjuna Capital
(co-lead
filer and filing on behalf of Lawrence Lamb, 26 Raymond Street, Manchester, MA, 01944), 49 Union Street, Manchester, MA, 01944, has represented that Mr. Lamb is the beneficial owner of 180 shares
of Twitters common stock, have together given notice of their intention to present the proposal below at the Annual Meeting. The proposal and the proponents supporting statement appear below.
The board of directors opposes adoption of the proposal and asks stockholders to review our opposition statement, which follows the proponents proposal and
supporting statement.
Proposal and Supporting Statement by Stockholder Proponent
Report on Content Governance
WHEREAS: Twitter faces global controversy about
Russias reported election interference during the 2016 United States presidential election and the distribution of disinformation or fake news and hate speech that can threaten marginalized groups and undermine our democracy.
Shareholders are concerned that Twitters failure to address these issues proactively has created regulatory, legal, and reputational risk.
We believe Twitter has an obligation to demonstrate how it manages content to prevent violations of its terms of service. Yet, disclosures have been inadequate. Content
policies appear reactive, not proactive.
Following testimony by Twitter to the Senate Intelligence Committee regarding Russian interference in the 2016 United
States presidential election, a Senator called Twitter s presentation inadequate at every level.
Twitter says it prohibits the promotion of
hate speech globally. Yet, in September 2017, advertisers used Twitter Ads to target 26.3 million users who may respond to the term wetback, 18.6 million to Nazi and 14.5 million to N**ger.
Following a womens boycott in October, 2017, the company made changes to Twitters policy regarding hateful content, including sexual harassment on the platform. CEO Jack Dorsey noted,
were still not doing enough.
In October 2017 U.S. lawmakers wrote to Jack Dorsey concerned that the Company is being used as an avenue to
spread racism and bigotry. They warned: If Twitter continues to prove unable or hesitant to grasp the seriousness of this threat and combat the racialized climate that is being stimulated on your platforms, we
will be left with
little option but to demand increased regulations.
Twitters plan to disclose more information about advertisements was deemed inadequate by a member of
Congress who commented: Transparency in advertising alone
is not a solution to the deployment of bots that amplify fake or misleading content or to the successful efforts of online trolls to promote divisive messages.
Germany enacted a law with fines of up to 50 million Euros if social media platforms dont promptly remove posts containing unlawful content including hate
speech. A United Kingdom parliamentary committee accused Twitter of prioritizing profit over safety by continuing to host unlawful content.
Advertisers
have raised alarms about fake user accounts. Twitter estimated spam accounts represent fewer than 5 percent of accounts; an Oxford University researcher says it could be up to 20 percent.
In a sample of 7 million tweets in November, 2016, Oxford University researchers found 203,591 from fake news sources versus 256,725 from credible outlets.
RESOLVED: Shareholders request Twitter issue a report to shareholders, at reasonable cost, omitting proprietary or legally privileged information, reviewing the efficacy
of its enforcement of its terms of service related to content policies and assessing the risks posed by content management controversies (including election interference, fake news, hate speech and sexual harassment) to the companys finances,
operations and reputation.
SUPPORTING STATEMENT: Proponents recommend the report include assessment of the scope of platform abuses, impacts on free speech, and
address related ethical concerns.