Small Business

Facebook will work with whoever wins election to address big tech fears


Sheryl Sandberg, COO of Facebook speaks onstage during ‘Putting a Best Facebook Forward’ at Vanity Fair’s 6th Annual New Establishment Summit.

Matt Winkelmeyer | Getty Images

Facebook COO Sheryl Sandberg on Wednesday said the social media company needs to work with whoever wins the 2020 U.S. election to address their concerns about Big Tech.

“We know that there’s real concern about the size and the power of the American tech companies, both here in our country and around the world,” said Sandberg, speaking at the CNBC Small Business Playbook virtual summit. “It’s our job to work with anyone who’s in office, whether they’re in the Senate or anywhere around the world, to address those concerns.”

Sandberg’s comments came after CNBC’s Jim Cramer asked her about Democratic presidential nominee Joe Biden’s comments in May that breaking up the social media company deserves a really hard look. Sandberg said Facebook’s size is what allows the company to help millions of small businesses sell online and runs targeted ads to potential customers.

“We are a platform on which small businesses are powered,” Sandberg said. “We’re going to continue to focus on that and make massive investments, and it’s helpful that we have the resources to make those investments.”

Sandberg and Facebook have made championing for small businesses a priority throughout 2020. 

The company in March announced a $100 million program to help small businesses impacted by Covid-19. In May, it launched Facebook Shops to make it easier for businesses to list products for sale online. Following the Black Lives Matter protests, the company in June committed $200 million to Black-owned businesses and organizations.

Sandberg also said Facebook will roll out its Voting Information Center later this week. That feature was announced by Facebook CEO Mark Zuckerberg in June. It will appear at the top of Facebook’s News Feed and Instagram. It will provide information about how and when to vote, how to register, how to vote by mail and how to vote early.

“That was important in any election, but with the coronavirus concerns about polls closing and ‘How do I do this now in a more online world?’ that’s even more important,” she said.