tv Facebook COO Sheryl Sandberg Discusses Small Business CSPAN April 4, 2021 12:57pm-1:28pm EDT
model, i will tell one final story about how you are a role model to be in this sense. one time you, skip gates and i had dinner together. when the bill came, i reached to get it figuring i can certainly afford dinner for three people. you said no, you cannot let anybody pay for dinner for you. so, you had to pick up the check for the three of us because you were so concerned that somebody would think a businessperson had bought a dinner for you. it was an expensive dinner. i remember it very well because it is the only time a justice of the supreme court actually treated me to a dinner. so thank you very much for doing that and thank you for this conversation. and, good luck to you. justice sotomayor: thank you, david. >> the trial of derek chauvin, charged in the death of george floyd. watch it today at 3:00 p.m. on c-span.
the trial of jeric short, today beginning at -- the trial of derek chauvin, today beginning at 3:00 eastern on c-span. >> facebook's chief operating officer sheryl sandberg talked about the role of social media and helping small businesses during the coronavirus pandemic. this is so to buy the detroit economic club. >> a very special guest speaker today, sheryl sandberg, is the chief operating officer at facebook where she oversees the firm's business operations. prior to facebook, she held executive positions at google, the u.s. treasury department and the world bank. she holds a ba from harvard university and an mba with the highest extinction -- highest distinction from harvard business school. she is also an accomplished best-selling author and the founder of a website.
we are so delighted she can join us, let's welcome sheryl sandberg to detroit. sheryl: thank you for having me, i first got to visit the detroit economic club when i was a young staffer in the clinton debate -- in the clinton presidency. we know how old i am. it is a treat to be back and, actually, i think the big thing that got canceled for me when coronavirus happened, was my trip in person. it has taken us now rescheduling via zoom. this marks, for me, a year of coronavirus. why am sad to not be here in person, i am happy to be here with the pleasure is all ours ad we will have you back in person. the moderator is a familiar voice to all. a reporter at debbie wj news radio. the first ever black woman in radio broadcast.
she is a great friend and a friend to me. >> thank you so much, steve. it is a pleasure to be here and i am excited to be a part of the conversation. steve: great to have you here. vicki: welcome to detroit virtually. it was great to speak with you last week. i am continue the conversation. i don't have to tell you that this pandemic has devastated small businesses across the country and globe and certainly here in detroit. how has facebook helped small businesses during this challenging time in our history? sheryl: thank you for
interviewing me today and for being such a strong and supportive voice of business and women in detroit. this unprecedented health crisis, economic races, a crisis for gender and equality and crisis for small business. businesses around the country and around the world been forced to close . people have had to try to rethink how they keep their business on and pay their employees. wedo small businesses are a big part of their communities. we are a big business at facebook but our business is small business. we have 200 million small businesses using our free tools and 10,000 businesses rely on our advertising products. our whole business is helping small business. this crisis hit small business hard. before coronavirus, one third of small businesses had no online
presence or mobile site at all. most small businesses are local. they serve customers. when everything shut, businesses had to go online. we are proud of the support we offered. it is hard to set up a mobile app. when you are a small business, resources are tight. usually you do what you are due. you are not -- you do what you do. you are not a website designer. but on facebook, you can set up a facebook page or an instagram business profile. in minutes you how to do and it is free. that is what small businesses did. we focused on helping small businesses get online. we focused on giving training. we train 100 small businesses since 2020 alone.
we have trained a million small business women through our business. we focused on giving support. we gave out $100 million in grants when coronavirus first hit, 40% was for the united states. it was the cities we call home, where our employees are that are part of our immunity. in detroit was certainly a big part of that. vickie: one thing that facebook did was create programs to assist with black small businesses. steve mentioned the black business minute. we highlight lack businesses three times a week. reason why i started that is because i heard statistics said 40% to 50% of black owned businesses will not survive the pandemic. so talk about the programs you created for those to help throw them a lifeline and why you wanted to do that.
sheryl: you are exactly right. black-owned small businesses have been cloning at 2 -- closing at two times the rate. they served committees of color. in addition to the hundred million dollar grant program when coronavirus started, we did an additional hundred mile -- hundred million dollars for small business owners and nonprofits in the u.s. alone area of that $20 million, some went to southeast michigan. this is a community we call home. we try to do more. our employees wanted to do more to help lack communities and black-owned businesses. two employees in our marketing team came up with buy black friday.
this was #buy black friday, so buy on black friday black-owned businesses. we created a buy black friday show. we have a deep community to train blacks and latinx business owners. what really matters is what happens on the ground. i started my morning meeting with nine local detroit small businesses, eight of which are owned by women, one man, we were glad to have him. almost everyone there was a woman of color. i heard the most amazing stories. regina is from detroit. her business was very local.
her wine store was more than a wine store. she created in-store experiences and that is when the about wine -- bought wine. she moved online to instagram and was interviewing winemakers and having cooking classes and giving people those experiences. her business is up this year. what do we believe? we believe when we give small businesses the tools and they are going to survive and that will make communities like detroit continue to thrive. vickie: can you share a couple of other stories. we talked to regina gaines and listening to the business owners during a roundtable was incredible. talk a little more about some of
the things, local examples of detroit businesses that facebook has helped. sheryl: one of my favorite stories was a company called ellen j -- l& j products. she was diagnosed with eczema and crohn's disease. the products didn't work for her. she owned a retail store and it was successful and then coronavirus hit. she had to close. she pivoted online in a creative way. she created a facebook community called the garden. she has 1100 people in her community. she calls them her sunflowers. from those people she gets product ideas and names and talks about fragrances. she said that she is a full
proprietor. she is like, do you like this color palette? i don't know. she said when she bills -- build the products suggested by the groups, they fly off the shelves faster than she can put them on. vickie: that is what you call listening to your customers. sheryl: there are other local experiences. there was a dj who was one of our grant recipients. he used the money we gave him to keep his employees paid. his business was weddings and parties. talk about a business not happening during coronavirus. what he needed was cash and assistance and we were glad to provide it. he also found a way to do business online. he created an online store and launched an online dj academy. our goal is to work with small
businesses in detroit and provide the tools, but is -- but it is really the entrepreneurs themselves saying i am not going to let this virus and economic downturn stop me your i'm going to pivot online and find a way to keep going. i think everyone is looking forward to the world and economy returning to normal. vickie: you are also bringing a training program to detroit. sheryl: that is right. with the small business association of michigan, we are bringing it to detroit later this month. at the beginning of last year, my team and i had a meeting on what we were going to do for the small businesses. we traveled to different cities and set up in local offices. we decided to make it easier. we were going to get big trucks and just drive around, and then
coronavirus hit. people were not coming into the small space we brought with the truck. so we have pivoted this online. it is totally free. please go to the website we are providing free training and tools to small business in partnership with them and we are excited to do it. vickie: hopefully we can get that link in the chat box. also talk to me about your advice for a small business that doesn't have a website and has no experience with digital marketing or advertising. what would you tell them? sheryl: the first thing is you need an online presence. as i said before, one third of small businesses didn't have one. you can set it up for free on facebook and instagram so your customers can find you.
the second is learning the basics of how to reach customers. east be only big companies could afford advertising and small businesses suffered. remember the days of passing out flyers? now for very small amounts of money you can target and find exactly the people interested in your products, and that is a lifeline for small businesses. and then keep iterating and learning. it is the creativity that matters. this is the pure detroit and little flower soak up any. these are the things that i bought. this is a candle. i bet you they didn't sell this before coronavirus, this box, a quarantine kit. it comes with their branding. this is a face mask. this is all natural hand sanitizer. this is beautiful hibiscus.
this shows the ingenuity of entrepreneurs and entrepreneurs in detroit. they were making soap before and they might have been making hand sanitizer, but they weren't boxing it up in a quarantine kit. that is how business owners pivot. decide them find. congratulations to those companies. talk about -- vickie: talk about pivoting, and i think facebook has helped a lot of company survive. let's talk more about facebook, the privacy and digital ads. there has been a lot of discussion about that with proposed changes of legislature and it could change how it tracks users and targets as to them. i was talking to my news director and he thought it was
amazing how you search for something and and add pops up immediate -- an add pops up immediately. talk about that. sheryl: privacy is our top priority. it always has been. our protecting the privacy of the people who use facebook is the most important thing. if you send me a message, that message is secure and doesn't get shared with everyone. if you want to do a post with face groups you are in, it only stares -- stays there. or if you wish to share it, you can share, but protecting privacy is important. we use it did in a privacy protective way. it is critical for small businesses. this morning at my roundtable, and met a woman who started a yoga studio in ann arbor. how did she advertise and get
customers, especially in coronavirus? she shows her ads only to younger people who are meditation induced people in detroit. we took the ad and showed it to those people and we don't give her back anything, just average stuff. we don't give her back a single person. if she can't do that, if she has to advertise to all of detroit, she can't afford to do that. not everyone in detroit once yoga and meditation. it is because she can do that and when she pivoted online and started outdoor yoga classes, she could build her following. it is on us to make sure we protect people's privacy. we take the ad and show it and don't give her back any information. it is on us to expand how it works. if that ability of hers goes away, it doesn't hurt the
biggest gyms in the country. it doesn't hurt the biggest companies in the country, but it hurts that local yoga studio. so we have to make sure we explained personalized ads here we are launching a marketing campaign to try to explain it. if you are interested in -- and another is goat yoga. people do yoga with goat. you can find -- with goats. you can find that personalized at experience in a privacy protective way. a lot of small businesses are worried that people are trying to do the right thing and protect privacy, but it won't actually protect privacy and really hurt local communities. steve: i want to get in a couple more questions. you are known as an advocate for women and you have done research on the impact of the pandemic on
women-owned businesses. talk about that and any advice you would have four women-owned businesses or women climbing the corporate ladder. sheryl: we are in a crisis. it is a health crisis, economic crisis, and a crisis for women. we just put out the next round of the facebook u.s. data report and it shows that single lead small businesses are closing at higher rates than male copper parts, 28%. the male owned are closing at 22% and twice as many business owners say the reason they are closing's house related reasons. so this gender divide is compounded and that is why we need to support women-owned businesses, businesses owned by a of color, especially businesses owned by women who are of colors, because that is where you have the gender and race bias and it comes together. we need to make sure we are
protective and growing the businesses that matter so much. vickie: here is a question to close it out. women's history month. tell us about some of the women who have inspired you and the five women you are spotlighting. -- spotlighting your gift guide. sheryl: there are so many women who have inspired me. our new vice president, palau kamala harris. others have done so much to show that children. i go back to gloria steinem, one of the original great feminists. i have to tell you the women who i met this morning in detroit -- i will share one more story. jennifer runs lesh yummy's. -- lush yummies.
she makes highs in she went big and got featured twice on oprah's favorite things. it poured orders in from all over the country. the orders are great but they are expensive to fulfill. she needed to make her business sustainable and profitable with local customers. she used facebook to look for pie lovers who could come in and picked up -- pick up so she could run the business without shipping. she ran privacy protective ads in the lines were around the block. that comes back to where we stopped. women who inspire us in the importance of local support for businesses. people responded, because they wanted to support local businesses and because her pies are delicious. vickie: everyone please check out the link to cheryl's gift guide that features local
businesses. steve, i want to turn it back over to you. sheryl, great conversation and i appreciate chatting with you again. steve: thanks to both of you for the conversation. now i would like to turn our attention to audience questions have received. i want to start with a question received about social media's role in society. this comes from rich. the last four years in the recent u.s. presidential election shined a light on social media's role in elections and democracies. there are some new places to go with this question. let's ask you to comment on truth in power when it comes to social media. sheryl: we start with elections. i will be mindful of time because this is a conversation we could have for a long time.
elections democracy, nothing could be more serious to all of us. this was a challenging election. we have never been so polarized and we had a pandemic where people didn't even know how they could vote. it was the perfect storm we tried to help. we learned the lessons of protecting our democracy from foreign interference, but we really also tried to help people registered to vote. we are proud of what we accomplished. we registered 4.5 million people, the largest effort of its kind anywhere in the world. last time we did to millie for each of the last elections. we put up a voter information center that millions visited. the questions were, and milo descended in, where you go, we answered all of the questions -- and where do we go and can we send it in and we answered all
of the questions. we believe internet regulations need to be rewritten. the last time most of the laws governing us were 25 years ago, and that is a long time ago and they need to be updated. at the same time, help people understand and think about that a lot of the tech companies that are the largest in the world are american companies, and that means we exist under american law. that is a pretty good place to be because some of the largest competitors are in china and they exist under chinese law. i think it is important that we find a way to i think continue american leadership of the tech industry. that has been so important. make sure that people understand there are limits to the power we have and make sure we don't seize that power to other companies that we don't want to. steve: let's stick with social media and the role. what is the role for small
businesses and what is the importance as compared to larger companies? sheryl: obviously we are important for small businesses. we have 200 million small businesses that are using our free products around the world, and we are why so many small businesses can start, thrive, and make the pivots they need to online for coronavirus. when you think about what it used to take, you used to have to get a storefront, a loan, raise a lot of capital. that was prohibitively hard for people, harder for women, minorities, and women of color. this is the great allies are. online, anyone -- this is the great equalizer. online, anyone can do that. we are critical for small businesses. if you take away the ability to
target under what i think is an untrue promise of protecting privacy, you hurt small businesses, you hurt the local yoga studio, the local pie bakery that needs to find local customers. our job is to make sure we protect people's privacy and make sure we explained that well, and i don't think we've explained it well, which is part of why we are having this conversation today. our job is to make sure that the 200 small businesses -- 200 million small businesses out there continue to thrive. coronavirus has been an acceleration to what was online, but that was a move that was happening. they say never waste a good crisis, we need to make sure small businesses come out of this crisis not just surviving but stronger. having the local revenue stream, stores back open, and the online ability to reach customers and an ability to thrive.
we are worried about unemployment in the country and in the world and we should be. most job growth comes from small business, not large companies. steve: this question comes from member jackie, who i know is a huge fan of yours. she says it has been a stressful year for small business owners, maybe you could share how you have dealt with and overcome stress during price of your career. sheryl: it has been a hard year for everyone. there aren't families out there who haven't been touched. very early on my fiance's cousin passed away of coronavirus. for us it was a shocking loss and very early and you couldn't even get together to mourn. we had to find other ways of reaching out. on a work went of you, we had to
send everyone home and we were able to do that and took it very seriously. we try to deal with that by being a company that helps hundreds of millions of dollars in grants to small businesses. as for taking care of our employees, letting people work from home, giving people additional coronavirus leave, additional money. we have to do our part to protect our employees and the small businesses who depend on us. steve: let's wrap this up on something positive. we have 30 seconds left. i am going to ask you to leave us with something that gives you hope for small businesses as we think we finally see light at the end of this pandemic. sheryl: this morning, the nine businesses and nonprofits i visited with. an amazing woman named jenny brown who started a nonprofit called everybody. she had a sister with down syndrome.
either from her that unemployment rates for people with those challenges is above 85%. she started a local nonprofit to help people like her sister began fully employed. and then this amazing woman who lost her only son to gun violence when he was just 24 years old. she started something change -- called change happens, and she is helping so many people locally. i am given hope by the women and the man i met with this morning that we are hopefully going to have more businesses in detroit and i am given hope by the fact that even when we can't be together in person like we are supposed to, we are all together here thinking about what we can do for the communities of which we are a part. i am so grateful you let me pop into detroit at least virtually.
steve: a huge thank you for spending time with us. we wish you the best. let us know if we can be helpful here in detroit and we look forward to hosting you in person soon. sheryl: thank you. steve: a special thank you to vicki. great to see you. sheryl: thank you, vickie. thank you for having a steve. steve: thank you, sheryl. thanks to my team and for all of you for continuing to support us. your membership is important to us. keep the faith. hope to see you march 25 when we host for espn's joe. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> go to c-sor