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800 companies all pulling ads at the same time for the same stated reason is a giagantic red flag. This boycott is not being done out of a renewed sense of anti-racism.

The biggest Federal agencies each mantain a list of fines that they haven't yet levied against companies, which they use from time-to-time to force companies to do things that they are not obligated to do. Every company has done something illegal, and Federal agencies have sole discretion whether to enforce the relevant laws/regulations.

In this case, the Federal government has decided that they want Facebook to change it's policies, yet again, to further limit speech on Facebook. This is how the Federal government gets around the First Amendment.

The companies and Facebook get the blame for social media censorship, but they are at most unwitting participants in the Federal government's growing efforts to censor Americans.