Jun 8, 2018

Facebook pledges to train a million small business owners

Photo illustration: Jaap Arriens/NurPhoto via Getty Images

To train 1 million people and small businesses owners by 2020, Facebook says it will expand its in-person training programs, like Community Boost, create more local partnerships, and build more eLearning resources. 

Why it matters: Facebook says it's trying to close the skills gap. Small businesses are also an important part of its advertising community and platform. Facebook's main app has roughly 6 million advertisers and Instagram has over 2 million.

How it works:

  • Facebook will expand in-person training programs to more cities, including its in-person digital training program, Community Boost, which works with local businesses to provide digital skills and training for people in need of work, entrepreneurs, small businesses and non-profits.
  • Facebook will form more community college partnerships to create new Digital Marketing Certificate programs.
  • Facebook will double down on eLearning resources, like its free "Blueptin" elearning program available in 14 languages.
  • Facebook will bring its "Learn with Facebook" program to the US from Germany and India. It's a free online training resource to equip people with new digital skills, outside of just digital advertising.

Go deeper

Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.