facebook subsumed the media. the media requires facebook it spends took f. much time railing against facebook or worrying about the fake news on the opulation, it is going to let power wane even more. host: katie from apex, north carolina, good morning. caller: good morning. max, i hope you would address my phone call in your own professional the standards of journalism, which ave definitely been drifted away from in that now the onversation is in regard to "fake news," where viewers were seeking information and the were gettinghat we was that a lot of these different news sites were biassed.y a lot of interviews when people were confronted with things that released tunately through wikileaks were flat-out be ed and later proven to true. when you have someone that you're hopefully receiving truth from and then you repeatedly have evidence that is case, there needs to be a commitment first to professional journalism before a 're going to have conversation about fake news. going to f you're discuss fake news, then what was the real news. constantly give an exa

so, at the end of the day facebook and i sound like a total facebook plant, they care about you as a user because they care about maintaining your eyeballs on the platform and they consider it adds it to be a necessary evil to pay the light bill. at the today actually went to please you, but the guy that wants to sell you a sweater at any cost isn't. it's we're. when people like use facebook it's like you have a toddler that hasn't learned facebook-- object permanence. facebook takes either your browser cookie or the fact that you are 37 in mountain view on thursday at 7:00 p.m. in scioscia message like when you get a piece of e-mail spam for like i don't know-- does anyone say google is showing me these ads because you understand they're just a messaging system. or when you get a marketing call to you blame at&t? no, you understand. facebook ads is effectively the same. everyone sent e-mails and photo calls, so they don't understand ads are a messaging system. my answer to your question is you should be worried about the advertiser knows about you and less about facebook because at

and they want to please you butted any cost is a beard but when they want to use facebook facebook really doesn't show you anything. it takes your browser cookie and then shows you a message. does anybody say god damn it google show me the picture of the penis note. because anyway my answer is you should be worried that the advertiser knows because at the end of the day they want you to keep using those ads. because then they said they would block the ad blockers and basically it knows the end point and then does not even have to load the ad. that is minimal usage. now i think of the example of the retail establishment and how is this like a major problem. snb will block the ad blocker so that could be easily confused but i do think in that sound like something to stem it -- to much use say one quarter of the internet that is uploaded everyday. the entire town and oregon is to keep the machine cool. that is not cheap. so yes i do. but just to clarify it is the user experience and then they abuse that. because they have you often get on mobile. and that to be real problem really but many p

facebook >> guest: facebook has undergone a couple of different swings about this. the founder and ceo initially came out after the election and insisted that news had influenced anybody one way or another. i think as we talked about earlier, i don't think that's true and i especially don't. think facebook believes that because they have been advertising business model. there is some reporting that and the use formed please formed a p attempting to come up with somee solutions.pl a few weeks ago he announced zuey were undertaking a handfull of steps to try to combat this. one was to attach a certain kinds of labels. i am skeptical about the direction of. the content is the kind of quick fix that's going to come back and hurt us and facebook theel problem at the level is that there's too much power and asking it to wield that power is a short-term solution. the long-term solution would be to ensure they don't have that much power over the conversation nenerally. twitter is a smaller sites that more journalists use it and thes president elect uses it. it had less of a

nvidia, facebook, for example. i think these are companies not sois research is unique out there on its own. again, i think he does really terrific work on smaller names, but in this case, it's not his best work. it's a holiday week, so we will give andy a break. : we have to dig into other chipmakers. qualcomm. how worrying is this when we look at u.s. and europe? : $18 million to somebody like qualcomm is nothing. people are much more concerned about the business model, which 70% of that profit comes from licensing revenue. anything that potentially affect how they are able to levy licenses, that is a big deal, and that is the cumulative concern that has always been there and looks like it is manifesting itself. it seems like it also gets to the core of what qualcomm is. not just because it relies so toh on licensing as opposed selling the physical chips they make, but also because they have with that business model achieved market dominance, so that their licenses, their technologies are written into the very co

creator will be banned from promoting on facebook's platform. >> facebook is censoring to the extent they will cut off some sites from economic benefit. >> marco chak own runs a fake news site, he says his articles are satire. >> if you look at that site and think it's a real news story, i think that's on you. >> reporter: chak own welcomes facebook's new measures and doesn't think it hurts his right to free speech. >> facebook is a private company, they can decide for ideological or business reasons if they want their news platform to be used for this stuff. that's totally legitimate and it's not censorship. >> reporter: facebook's announcement said, we cannot become arbiters of truth ourselves, and that it's targeting the worst of the worst. >> fake news is not as simple as bzz, it's false. but right now, they're trying to detract the things that are obviously false and not give them money. >> reporter: a controversial experiment, facebook asking users to police fake news, trusting them to call it when they see it. jo ling kent, nbc news, new york. >>> we're back in a news, new yor

in fairness to facebook, this is not necessarily a problem solely of facebook's creating. if you look at polls from places like gallup, only 32% of americans trust the mainstream media, trust us. you know this better than anybody from standing in the press bin at countless donald trump rallies and hearing insults are hurled your way. i think as long as there's an appetite for news from sources other than places like us, facebook can do whatever they want. but again, you know, you'll talk to fake news creators and they'll say these folks will find a way around it. facebook is not going to -- whatever they do, they will not be able to stop all this news or fake news from getting out there, as hard as they try. >> it's not from facebook, you're absolutely right. they weren't the or begins of this. bitz been going on for decades. politician, mostly on the right, some on the left, de crying what they call the liberal media, refusing to take reporting from outlets they don't believe as real and true and stelg their constituents and supporters to never trust anybody on nbc, on nb

you cover facebook and alphabet. we going to start to see any upward trend going forward as stock coalition continues and they look for what has not caught the wind as of late. guest: it is interesting and maybe because i do not look at fang sector. maybe i do not see quite the same of flip -- uplift trends. factorsany specific seem to be more dominant. certainly through my lands. we had a number of potential the measurement issues that have been coming to light recently are problematic. maybe constraints growth but the bigger issue is they are expecting on the buy side, they are expecting more robust growth. even though you have a company that is eating the industry and taking share, it may not be meeting expectations so that holds off some of the growth. google has similar issues where investor expectations have as other robust that investors come back to her thin terms of their expectations, it holds down the stock. these companies are so massive is the law oft large numbers in terms of how big they can get. carol

not for facebook c.e.o. -- twitter c.e.o. he tweeted, following in the footsteps of brian, what's the most important thing you want to see twitter improve or in 2017? well, like him who had taken to twitter for consumer advice, dorsey got thousands of responses. on friday he wrote, thanks for all the feedback. yesterday, four clear themes you want to work on. abuse, edit, topics and interests and conversations. and twitter isn't the only tech company that could learn a few lessons from the past year. earlier i spoke with bloomberg tech reporters covering apple, google and facebook to find out whether they considered what the year's hits and misses were. >> well, things have proved this year it's more than facebook. it saw amazing growth for instagram. now 600 million users. facebook messager has become increasingly popular and very good at copying snapchat. lot of things on messager and instagram also introduced which had tories become stories that snapchat has. it's almost as popular as snapchat itself. caroline: and they ha

also paid facebook to get a boost in the readership. that is not a big dollar number four facebook. i don't really attribute a lot of economic incentive to facebook for having fake news there. what i do know is that the purveyors of fake news make money, and sometimes a lot of money, through advertising. host: another tweet -- let's stop calling it fake news. it is propaganda, plain and simple. guest: propaganda has a political purpose, right? . what you saw some of the circumstances if people creating anything that would get you to click on it, right? they had an economic incentive to get you to click on it. political,are oriented fake news stories, economically-oriented. at the end of the day, all of it is we have to identify the lies asy get out and are exposed real news and expose them as lies. that let's go back to earlier tweet because president obama said if you like your health care plan, your doctor, you can keep it. that turned him not to be the case. that is not fake news because the president said it. you are reporting what he said opposed to the trump endorses donald tr

facebook had just gotten started. they're, like, flash in the pan, you know, there's no holding power for them. they're going to be gone. so my book, you know, i looked at history again and had suggested these patterns, long cycles. and, you know, i'll briefly describe it. you have something new invented, there's sort of a wild open period, a wild west era while everyone's trying on different business model, seeing what workses. very open speech, a lot of talk, and then consolidation into either an oligopoly or a monopoly like at&t of players. you know, like the telephone industry once had a thousand different companies in it, now it has four depending how you're counting, right? and for a long time, it was just one. so that cycle which everyone thought the internet was immune to has clearly, i think, come to the internet. when you look at it now, it is a handful of big companies; google, facebook, apple -- when they're being entered as a company -- microsoft and then amazon, and then the list starts to sort of trail

cuyo mensaje en facebook se ha vuelto viral. presentadora: parte del mensaje dice: "dios no puedo explicar el dolor que siento. hasta ahora estoy en ello. hasta pronto". que en paz descansen todos ellos. presentador: lo mÁs seguro, es que no va a parar de hablarse en este fin de semana. en esta misma hora, avanza la repatriaciÓn de los cuerpos de las vÍctimas. presentadora: el primer vuelo saliÓ a paraguay. hoy continÚa el traslado a otros paÍses. esta compaÑera tiene lo Último desde colombia. adelante. reportera: buenos dÍas. los saludo de la funeraria san vicente. se prepara la caravana que va a partir encuestados minutos al aeropuerto internacional de rio negro. con los cuerpos de las vÍctimas de este fatÍdico accidente en las montaÑas. nos acompaÑa director de la funeraria. cÓmo va a ser el traslado? fernando: a las doce del mediodÍa vamos a salir. disponemos de 39 vehÍculos de transporte de los 50 cuerpos que son los Únicos que quedan. se han despachado veintiuno. vamos a salir a las doce del dÍa. reporter

facebook is too hip for that [bleep]. it uses cool, arctic air to keep photo, friend, and like machines from melting down. this whole place lends itself to sweden's meticulous attention to detail and design. the building is an engineering marvel that treats air like a pampered corgi-po. the air gets sucked in, cleaned, watered, and then sent on its way via physics with the building pressure pushing the air down onto the computers. since facebook gives away its service for free, this place needs to operate as smoothly and cheaply as possible to minimize the cost of each click. off-camera, joel readily brags about facebook's cheap clicks. on camera, jantelagen. we have kind of been dodging around the point. this may be the world's most power-efficient data center. joel: most likely, one of the most efficient ones. ashlee: damn swedish modesty. it is not just free cold air that brought facebook to the artic circle. the social network also came for the cheap, reliable power produced by sweden's vast set of hydroelectric dams.

on facebook. what happened to the driver... federal regulators want all passenger train operators in the u-s tested for sleep apnea. that follows september's deadly commuter train crash in new jersey. the engineer in tragedy was found to have the sleep disorder, which induces fatigue. a man live-streams himself on facebook, going over more than one-hundred miles an hour through traffic...but he's now in the but he's now in the hospital... after that journey rhode island state police say this video is perfect example of what not to do while driving.you're looking at the video onasi olio-rojas streamed live on his facebook page while he goes on a high- speed joy-ride on routes and 10 and 6 in providence.capt. john allen/ rhode island state police:"he's well over 100 miles an hour, in a congested area. several lane changes, in and out of traffic. in the break-down lane. back to lanes of travel.rojas does this all while filming the speedometer on his it's at 109 miles per hour. capt. john allen/ rhode island state police:"it's a gr

facebook protects the platform. serve little bit different. it's not a publication and they need to be more transparent. they have a right to do whatever they want but then they believe they will reap the rewards or suffer consequences. every flower looks the same in their walled garden and that's what they are trying to build. they are tried to keep people in facebook so you never want to leave for you never have to leave. if it starts looking like a really dull subdivision or fake cityscape. >> they are always facing this problem. >> they are going to have to be more diverse and they are going to have to put it in the westworld vision of this. they will have to put in that samurai module. >> i am sure everyone in the audience has a lot of questions and we will get to those but i have one more for you. based upon the fact that both hillary clinton and donald trump have called for closing down parts of the web -- the next within 24 hours of each other. there actually is a difference between a republican and a democratic party when something li

todo esto en facebook. presentadora: es muy fÁcil. ustedes se toman su telÉfono, se graban el mensaje, dicen lo que desean para el prÓximo aÑo. y lo pueden mandar con nosotros. quieres que te cuente algo, falta 16 dÍas para la navidad. increÍble. presentador: hablando de navidad, resulta que para algunos en vez de ser la Época mÁs bonita del aÑo, es la peor. a dos semanas de navidad, este domingo once de diciembre, es el dÍa en que mÁs parejas y segÚn facebook, termina su relaciÓn. muchos para no tener que gastar el regalo de navidad. presentadora: increÍble. segÚn algunos expertos, serÍa que la Época festiva ayuda a superar el rompimiento mÁs rÁpido. la pregunta es, cÓmo romperÍan una relaciÓn? ni te imaginas algunas excusas ridÍculas. por ejemplo. presentador: me mudo en la antÁrtida. no me llames mÁs. presentadora: un poco directa. presentador: te quiero tanto, si algo pasa me morirÍa, antes de que eso pase, mejor terminemos. [risas] esta estÁ muy buena. presentadora: terminamos dicho trabajo tres dÍas a

facebook is starting its own facebook at work. do you think big tech companies will be as successful as smaller homegrown companies like yours? >> i think that remains to be seen. they are worth watching. what is more interesting is the blend of consumer tech and consumer expectations and consumer usability that has been happening for a while. our product as an example demonstrates things that people entering the workforce today as young people would expect, the ability to mention someone or see a list of activities through a feed. the way we use technology on a personal basis needs to move into the workforce faster than it has. emily: any thoughts on a trump presidency? how is that impacting your outlook or the market next year? >> too early to tell. he has demonstrated it is difficult to predict. from our perspective, we are focused on business issues and what they can control, building great product, finding great customers they can attract to that product and moving their business with one foot in front of the other. emily: th

will it be as big as facebook? i'm melissa lee, you're watching "fast money" on cnbc, first in business worldwide. here's what else is coming up on "fast." >> announcer: 2017 is just around the corner. the chart master has the most important chart you'll see all year. you don't want to miss it. plus the basis are loaded. brian kelly is on deck. he's got one chance to hit it out of the park. will the traders buy into his fast pitch? much more "fast money" still ahead. ♪ >> you should say hi to your mom. >> hi, mom! >> we have all these white shirts, now we have the dark. >> thank you. ♪ >>> welcome back to a very special "fast money" as we debut our shiny new desk ahead of the new year. new desk, new year. it was quiet out there today as we close out the last few trading sessions of the year, the dow and s&p closing down slightly. the russell index is the only one in the green. coming up, twitter ceo jack dorsey gets feedback from his own followers. can anything be done to fix twitter? our traders will weigh in.

>> google doesn't come out looking well, but with facebook, facebook has a degree of control. friendsooking for our to see what they are reading and we expect facebook to play a certain role in helping us assess what is news and what is important. we expect them to play a role. facebook is at this debate over are we a tech company or a media company? they want to be seen as a technology company. our outdoor thumbs will solve this for you. algorithms will solve this for you. if they can't strike that balance, users are going to feel like facebook is losing credibility. ifertisers will think twice it is somewhere where they want to put their ad dollars. politicalwe have a year coming up with french general elections. you are a man who invest in nvests in europe. give us a sense of how the u.s. is looking at europe and what we 017 holds?- what 2 >> the watchword is unpredictability. true isg that is very great companies are still being built. , and industrial park somewhere out of air tomorrow -- edinburgh. companies will be looked at if they can get in at a great price. soon? th

and the second is being a follower of facebook and google. i think the way we differentiate it at aol and nobody liked content, we bought the tech crunch in the "huffington post." before people got into video, we got heavily into video. and then we're going to work with the yahoo team to do the global strategy and money team at verizon. but you should, i would leave tech crunch listening to our talk, thinking that we're thinking deeply, not about google and facebook, but about doing things for clients. social is facebook and google is search, you know, our company is going to be brand. and that could be the brand you wake up in the morning. it could be yahoo, it could be the brand you look at in the tech space, tech crunch or it could be the best brand to advertise a platform in the world. which might be aol 1 or one of the yahoo platforms. so i think we, we're not planning on competing with facebook and google. we're probably the only company in the internet space that partners with everyone. we partner with apple, amazon, google, facebook,

live little hearts. >> facebook owns them so can you rip off yourself. >> oh, okay. >> facebook owns instagram. >> i don't know if we can show this on my phone when you pull up, if you want to east mike do you see at the top of the screen there is a live string right there and that is how you though mike is doing on stuff live there. >> do you see how many people are looking at mine now. >> how many. >> can you look. >> 250, wow. >> 251 people. >> it is 6:41 are you brushing your teeth, my gosh. >> maybe i'm jealous that he is getting all these new followers. >> wonder if i should go live. >> you can never have too much live, man. >> is this your new thing, you love facebook live, mike. >> i will be all over this today. >> i think he likes the fact that it disappears. >> i do like that a lot. >> okay. >> what am i up to. >> making coffee, one says we can see up your nose. you cannot have it too close to you. >> look at that, how many to 379. >> 400 people. >> i have something to do i'm heading to work. >> hey, alex. >> hi someone said hi, that is nice. i'm watching. someone said alex

facebook will always be in the news. everything you do seems important to people because they're so many users for some developers that might only gotten that one bit opportunity to make a splash to make a first impression on you. if the nest so have the functionality that they needed. how long ahead of the launch did you guys give developers knowing the final functionality? >> was a couple of weeks unfortunately spirit is not enough time to build a great experience? >> probably not. >> i thought it seemed a little bit short. and the industry and you guys were focusing more on the set launch date. did you guys end up prioritizing secrecy and making a big splash but putting that stake in the ground like you said, able to launch a fully baked platform? >> the problem is you can look at this at different ways. i choose to look at it as this is a long journey and you need to start somewhere. it's a great opportunity to get developer attention, developers attention to where a lot of developers that are coming to the comfor co

whether that is facebook, pinterest, airbnb, bloomberg, or lyft. so for those managers and for those companies, and there is a market for those companies to go public, but for the broader venture community, we believe that m&a is the most likely outcome for those portfolio companies. emily: andreessen horowitz is one fund that made a big splash, although there has been some controversy about how their returns have been so far. do you have any concerns there about the performance of andreessen horowitz? >> we don't have any specific concerns. we see the number. they have delivered very good returns over the course of the firm's life partly beuse they have been able to invest in some of the elite companies i just mentioned. so, we are bullish on them. when they entered the venture capital game, they changed the dynamic by offering recruiting, pr, and the sales pipeline by introducing strategics to companies. on a daily basis, they will bring fortune 500 companies to meet their portfolio companies. for a number of them, those introductions have become

estÁ con nosotros a travÉs de nuestro facebook life. ustedes quieren saber cuÁles son los juguetes mejores para esta navidad? presentadora: me encantarÍa. mi lista de navidad sigue creciendo. cada minuto veo algo y lo agrego. ya se me acaban los papeles. presentador: gracias por estar aquÍ. >> listos para navidad todos. presentador: no sabemos quÉ regalar. yo no tengo nada. mi presupuesto nihilista. >> muy mal. empecemos. lo mÁximo lo que mas queremos es chip, lo tengo que tener en la mano, porque no tenemos control de todo lo que puede hacer. tiene mÁs de 500 funciones. se sincronizan tu computadora y lo puedes controlar. baila, ladra, hace de todo. muy bien. presentador: esto se maneja con un reloj? >> sÍ. presentadora: cuÁnto sale? >> estÁn en diferentes presupuestos todos estos juguetes. estamos pensando en el presupuesto. esta increÍble. presentador: yo juguÉ mucho tiempo. >> saben el secreto? vienen con mÁs de 100 de los juegos. es un regalo para nosotros. presentador: para los niÑos como nosotros. >> algo de mis favo

facebook's outlook on fake news has evolved. the company turned to third-party fact checkers to flag false stories, but is it enough? we discussed facebook's new strategy. >> it has through its network develop a code of principles for nonpartisan independent fact checkers. when facebook decided in order to be a third-party fact checker on the network, as a minimum condition, you will have had to sign on to our principles. >> facebook is the arbiter of who is a third-party fact checker? >> correct. depending on this code of principles which requires transparency -- >> many people signed up to the international fact checking network have been pushing for mark zuckerberg and facebook to take these steps. are the steps announced enough? >> we are in the early days. i hope you don't think i am dodging the question, but the reality is we have will have to wait a few weeks to see how this works out. there has been a lot of pressure for facebook to do something. we need to see how this works out in practice. we think it is a welcome cho

we know that people don't want to see hoaxes on facebook and we don't want to see hoaxes on facebook. and so, we're working on it because misinformation is something we take seriously and continue to iterate on. >> did it play a bigger role than you expected or thought in retrospect? >> there are claims that it swayed the election and we don't think it swayed the election, but we take that really seriously. we're working with third parties, helping to label false news, doing the things we can do to make it clearer what's a hoax on facebook. >> it's complicated because facebook's philosophy has always wrestle with in terms of finding a solution but keeping this free marketplace of ideas that i know facebook treasures so much? >> of course. anything at the scale we're operating on is complicated, but there are a lot of things that are going on on facebook, you've seen this year, which show people taking the steps to connect that matters to them. so, one of the things that happened thisear in the election, but didn't happen before, was facebook live. we didn't have it last time there was

live system they're developing, a platform and facebook live is amazing. we're reaching 500,000 to a million people every week on facebook live. >> martha admires and follows a lot of the technology entrepreneurs today who have disrupted industry who have connected directly with the consumer. >> hi, everybody, welcome to facebook live. >> facebook was introduced to the public in 2006, a year later, the iphone was released. today there are around 2 billion smart phone users worldwide. this marriage of technologies provides new ways of communicating, ways that martha has embraced. >> we have some friends over here, we have tiadvertisers. >> you're watching it live, audience, but these are "life." >> martha's show on facebook live has changed the budget of usual tv shows. >> our facebook live one hour programs that we create and the production quality all filmed on a iphone 6 plus is fantastic. he could be shooting with an iphone on that. >> coming up, they turn traditional business models upside down, the disrupters who inspired martha. normal alk or egfr ge

facebook has a role in this but ultimately comes down to the individual, as more people use facebook and social media to get their news. pew did a study, 62% of adults get news on social media and facebook, two-thirds of people on facebook get news on the site. you've got to weed the stuff out. stop posting or sharing information that is clearly spurious, questionable. this is the equivalent of the e-mails that we always used to get that friends pass around that were so kooky, you had to say you cannot e-mail me that at work? it comes down to personal responsibility as well as the responsibility of facebook. >> you like facebook getting this involved? when you dig into it, are they going to be using other signals like algorithms to determine if it should label the story as fake and bury it in people's feeds. a lot of authority and a lot of room for something to go wrong and for real news to be filtered out. >> they're making money off the backs of all of this. it's like if we're going to call on them to crack down on the radical islamic terror talk and crack down on anything that is

facebook's plan to combat fake news. and using business to combat global poverty. >> sreenivasan: but first, donald trump took to twitter this morning to attack the obama administration's handling of russia's alleged hacking during the election. he wrote: "if russia, or some other entity, was hacking, why did the white house wait so long to act? why did they only complain after hillary lost?" in fact, the u.s. intelligence community said in early october that it was confident russia directed the hacks of the d.n.c. today, senate minority leader harry reid said russian president vladimir putin was personally involved in efforts to disrupt the election and help donald trump win. we look at putin's role now with angela stent. she served in the state department during the clinton administration. she's now a professor at georgetown university. does it make sense that vladimir putin would have a role? >> i think we have to go back to 2011. in the fall of 2011, there were mass demonstrations in moscow, protesting falsified elec

emily: facebook, a longtime investor in facebook. facebook needsat to take on greater responsibility when it comes to inaccurate news? should they consider themselves technology any or a company? >> i think facebook is very serious about this. major company like this, you recognize that there concentration of value in internet companies, 80% of value. them has a responsibility. applyhink it doesn't only to facebook. it applies to all of them around about things hink like that. emily: so looking into 2017, dividing how you're your time in terms of your travels and what technologies excited about. >> i'm 80% focused on investing, 20% focused on nonprofit nitiatives like the ones we talked about and as we talked about it, 20% of our investments are concentrated on the u.s., 20% in the rest of the world. that's how i'm trying to allocate my time. when it comes to new technology, what do you like out there? where do you think -- what are fascinated by? >> there are some unstoppable trends. various approaches for driving and things like th

german prosecutors are investing facebook ceo mark zuckerberg and a number of other facebook executives after complaints of hate speech. they claim the social network accident unlawfully by failing to remove posts that incite hatred or violence. they provide examples of hundreds of posts denying the holocaust, calling for violence, and expressing support for terror groups. facebook said, "the allegations lack merit." meantime, the ceo of axel springer, one of the biggest companies in europe, says that politicians should resist calls to regulate facebook as a media company. this despite concerns on fake news on the social network during the u.s. election. the ceo made the comments in an exclusive interview with bloomberg. take a listen. mathias: i think it is a tremendous distribution platform. i stick to mark zuckerberg's philosophy that it is about connecting people. it is a platform a bit like a telco in the old days. it brings people together. it facilitates communication. perhaps in a couple of years, it will be virtual reality conversations that we have on facebook. facebook is a t

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the difference with facebook, it's important to note facebook has a degree of control. we're looking at facebook not weedto algorithmically things out, we are looking for our friends to see what they are reading and we expect facebook to play a certain role in helping us assess what is news and what is important. what is happening at facebook right now is this debate over are we a tech company, are we a media company? they want to be seen as a technology company. our algorithms will solve this for you. but they can't get away from at least having some association with being a media player. if they can't strike that balance, users are going to feel like facebook is losing credibility. advertisers will think twice if it is somewhere where they want to put their ad dollars. if we can't trust facebook to curate for us. caroline: in how you brought up other regions, we have a political year coming up with french elections, german elections. you are a man who invest in europe. fromt come to the valley berlin, looking at the european tech scene. give us a sense of how the u.s.

long-time investor in facebook. do you think facebook needs to take on greater responsibility when it comes to fake or inaccurate news? should they consider themselves a media or technology company? yuri: i think facebook is serious about this. you recognize there is a high concentration of value in internet companies, over 80% of value is concentrated in less than 10 companies. each one of them has a responsibility. i think it does not only apply to facebook, it applies to all of them around the world to think about things like that. talk to me about how you are dividing your time in terms of travel and what technology you are most excited about? yuri: i am 80% focused on investment and 20% focused on nonprofit initiatives like we talked about and as we talked are -- of20% investments are in the u.s., 40% in china, 20% in the rest of the world. that is how i try to allocate my time. emily: when it comes to new technology, what do you like that is out there? where do you think the growth will be? what are you most f

interestingly, kate, when you think about twitter versus facebook ipos, at the time of the ipo, facebook was viewed as a flop and twitter was viewed as this runaway success. so how should any company who's going public even try to compare themselves to those two situations which have turned out vastly different? >> well, you're right. and i think you have to look at the broader trend in both cases. looking at snapchat one of the things that's interesting, like twitter and facebook, they've developed themselves initially as a social environment, one of the fastest growing ever by the way, particularly for len yals. the thing that snapchat is doing that is smart is taking a page out of facebook's plans, is they already with their recent acquisition of an israeli-augmented reality company, are already beginning to lay the groundwork to go beyond that instant communication, the disappearing communication, making themselves friendlier for advertisers. that israeli company as an example can help you put on augmented reality glasses and see furniture you might want to buy in your own living roo

facebook is just kind of got started. they were a flash in the pan, there's no holding power for them. they will be gone. so my books look at history again and it suggested these patterns, long cycles. i will briefly describe it to get something you invented. they're sort of a wide open. , a wild west era where everyone is trying on different business model seeing what works. very open talk and then a consolidation into either an oligopoly or a monopoly like at&t of players. like the telephone industry once had 1000 different companies in it and now it is for, depending on how your accounting. for a long time there was just one. so the cycle which i would stop the internet was immune to as clearly i think him to the internet. when you look at it now, it is a handful of big companies. google, facebook, apple, microsoft and then amazon and then the list starts to trail off the we were talking about the companies that depend on the time and attention, it is really google and facebook are the big players. so that consolidatio

emily: facebook bought instagram for about $1 billion. a year later, citigroup valued it at $35 billion. in that moment did you ever think oh no, what i just do? kevin: no. when talking to mark, he gave away 99% of his wealth. we are not in his game to make money, we are in this game to change the world. if you talk to people whose money doesn't matter. they measure value on what it does for the world. did we unlock some kind of value? that's what mark and i focus on every single day. emily: when mark bought your company, he pladged for you to work independently. has he lived up to that? kevin: he has been true to his word and then some. i've learned a tremendous amount from him. about our transition to advertising, a better transition to a more global community, about strategy. he's one of the most interesting strategic long-term strategic thinkers. think about having the best board member in the world. imagine how many companies would like to have mark zuckerberg on their board. that's what we get and its independent, but also get amazi

as you start participating in facebook, you feel like you're having more of a role in what facebook is. having said that, there is a huge risk that the herd mentality could start to dam stories they don't like and push those down. having said that that's why you need the anta litics, turns out this is something you don't like, but it is real news. but this ability of giving people a way to participate and crowd source could be applied in a lot of interesting areas. i applaud facebook for thinking about this problem in a unique way. emily: it's certainly not a game. do you think that ultimately this is going to be enough for that facebook itself needs to take a greater role? crawford: it's not a game. i don't mean to say that. what i mean is that it starts to get people to participate. do i think -- i think facebook has to play a significant role here. and just like 30 years ago, it was really important for newspapers to allow people to have a voice, to be able to write into the editor, to be able to get those op-eds published. i think it's very important that the users of facebook star

and the results of facebook don't justify facebook. some apply to twitter or instagram. i think it is limit your time. stop posting the highlight reel and don't passively watch people's feeds. >> get a real life. >> hang out like this in person. >> thank you so much. >>> up next, if you are tired of spreading holiday cheer, aren't we all, you will probably like fessty v festivus. the celebration for the rest of us. the way of a touching moment? if you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. taltz is proven to give you a chance at completely clear skin. with taltz, up to 90% of patients had a significant improvement of their psoriasis plaques. in fact, 4 out of 10 even achieved completely clear skin. do not use if you are allergic to taltz. before starting you should be checked for tuberculosis. taltz may increase your risk of infections and lower your ability to fight them. tell your doctor if you are being treated for an infection or have symptoms. or if you have received a vaccine or plan to. inflammatory bowel

creator will be banned from promoting it on facebook's advertising platform. >> facebook is censoring to the extent it will cut off some. >> if you look at that site, if you think that's a real news story, you know, i think that's on you. >> he welcomes facebook's new measures and does not think it hurts his right to free speech. facebook's announcement said, quote, we cannot become arbiters of truth ourselves and it's targeting the worst of the worst. a controversial experiment, facebook asking users to police fake news, trusting them to call it when they see it. jo ling kent, nbc news. >> just ahead, your weekend weather forecast. that's next. per roll more "doing chores for dad" per roll more "earning something you love" per roll bounty is more absorbent, so the roll can last 50% longer than the leading ordinary brand. so you get more "life" per roll. bounty, the quicker picker upper pain from a headache can when make this...old, feel like this. all-in-one cold symptom relief from tylenol®, the #1 doctor recommended pain relief brand. tylenol® >>> well, the forecast this weekend

and facebook's controversial new plan to crack down on fake news. but we begin with the aftermath of a story that was sadly hyped by the media. the electoral was somehow in a last gasp vote deny donald trump the presidency? >> members of the electoral college will meet the country today, to validate the results of the presidential election. typically it's a ceremonial event. this time around, though, it comes with an unusual amount of attention and even controversy. >> 538 members of the electoral college will vote today in their state capitals. it's a formality required by the constitution. but there will be protests this year and some electors are urging others not to vote for donald trump. >> it seems that people are still holding out hope that the electoral college, when they vote tomorrow, will somehow miraculously decide that hillary clinton is the winner. >> then came the actual voting. and it was a nothing. >> what we've known for weeks was made officevening, as members of the electoral college cast their ballots in all 50 states and the dis

because it gets you to spend more time on facebook. the algorithms end up sending you more of the stuff that confirms more of what you believe and think. soledad: you can't expect the user end, like my aunt silvia, to say "oh, i'm not going to forward this story” because i deem it to be fake. we know most people can't tell fake from real. craig: when you open up facebook and look at your news feed, all of the links people are sharing look the same. you don't see logos. you have to go below the image and headline to see where it came from, and most people don't do that. soledad: it's not that people like a more factual story than one that actually confirms the conspiracy theory that they believe. plus, you have the president-elect elevating fake news, right? different. craig: that's unprecedented. the fact that trump will tweet things that are untrue. for example, there was a fake news story that a protester had been paid $3500 to protest trump. that's from a completely fake website created by a guy who just creates hoaxes all day lon