facebook dating is no standalone app but a feature integrated into the existing facebook. infrastructure which has already been hacked several times. so it's no wonder that data security experts fear our romantic preferences will soon end up exposed for the world to see. it's also unclear how exactly facebook plans to use this data. after all the platform makes money by selling ads. in the u.s. and canada online magazine slate found that facebook earns around $120.00 euros per year per user. can we trust the fact that mark zuckerberg says they're not going to use this data for advertising purposes i think the answer is no facebook's dating app very likely is collecting information or will be one day that they might sell because that's their business model. in the u.s. some believe that mark zuckerberg is out to revolutionize the dating market. and some even speculate he's planning to weaken the current market leader match dot com so he can buy it up. you know. facebook users must know there are revealing lots of their personal information for the kompany is financial gain

mark zuckerberg is now targeting this past online market with facebook's newest feature facebook dating we want facebook to be somewhere where you can start meaningful relationships. currently facebook posts 2 and a half 1000000000 active users worldwide so the odds of finding a match are reasonably high. but jason kelly a privacy expert with the electronic frontier foundation warns us not to trust that facebook will keep our intimate chats and sensitive data safe. facebook dating raises a lot of red flags because they spoke as a history of misusing user data and there's no evidence that anything has changed in particular other than facebook's messaging. facebook dating is no standalone app but a feature integrated into the existing facebook infrastructure which has already been hacked several times. so it's no wonder that data security experts fear our romantic preferences will soon end up exposed for the world to see. it's also unclear how exactly facebook plans to use this data. after all the platform makes money by selling ads. in the u.s. and canada online magazine slate found that

facebook page we can lose. so much of what we've gained in terms of the kind of democratic freedoms and market based economies. come to take for granted both google and facebook as they are updating their company policies to ban fake news sites from using their advertising networks both tech giants have come under scrutiny in recent weeks for presenting fake news during a presidential election will take news is not even really a description of anything anymore it's a weapon it gets tossed around if there's a real news story that somebody doesn't like they just dismiss it as fake news it's kind of a way of trying to get it to go away and it's being misused is being used as a way to dismiss actual factual evidence that something is happening right now in the news you'll see a lot of concern with so fake news stories there are 3 reasons why we should not worry about fake news stories fake news is come headed to you can place your fake news stories about me and i can place my fake news stories about you is complete

uber is the facebook it's our facebook for 2020 it turned out of all the stocks, facebook is the best performer in 2019 because it whats so dislocated at the end of 2018. a lot of controversy around it i think that's exactly the setup or similar to the setup on uber now. we like it we think we'll see a clear path to profitability i think we'll see sustained growth in the ride sharing business and if they can fix that eats business, that's going to surge the outperformance and cause the outperformance in uber shares number two is google, number three, facebook and number four, spotify. >> mark, i have to ask you about facebook this year we have done so many interviews about facebook's regulatory challenges. facebook has shaken off so many of those concerns. but the company has warned that they're going to go through this business transition next year and that they will see a slowdown in advertising growth why are they still on your long list >> well, i think we start off with valuation, julia. it's the cheapest large cap maybe tech stock on the growth adjusted basis you can buy this th

i think what's so troubling about google and facebook is. you don't know what you don't know and while the internet provides a lot of openness in the sense that you have access to all this information the fact of the matter is you have basically 2 gatekeepers facebook and google which control what we have access to news organizations have to be prepared that their home pages are less important people are using they're using facebook as a home or using twitter as their own home those newsrooms are their portals into the world of information google and facebook started out as internet companies and it has changed they morphed into media companies they've morphed into a telecommunications provider and at least in the us media companies are regulated newspapers are regulated telecommunications providers are regulated internet companies social media companies like google and facebook are not the roles have changed studies show now that individuals expect the news to find them. and we turn to them and the number one thing that we were out with our

off of facebook and instagram. after that point, working, day in and day out with regulatory authorities in the eu, the u.k, the united states, all over the world, one of the things i thought was the power this o obfuscate their work. one of the things i came to understand is when you blow the whistle, you see something that is wrong, when you report that to an authority, you think there will be some guy somewhere in a federal agency building that knows what to do. one of the things i realized is there is not that guy. that guy doesn't exist. i've talked to governments, regulators, congress, parliament. people don't know how to handle this problem. for me, the real concern is that we have a completely unregulated digital landscape that companies like facebook take advantage of. even though companies like a havedge analytic dissolved and no longer exist the capabilities are still , there. one of the reasons i wrote the book was to serve as a warning. even if this company no longer exists, what happens if china becom

facebook this morning. it's defending itself against accusations of political bias an article posted monday on the tech news side gizmodo said facebook workers suppress conservative leaning news stories in its trending section and that creates a terrible dynamic when it comes to the consumption of information and news because it leads us to only see the world in a very very small and narrow way it makes us easier to control and easier to be manipulated. the. i think what's so troubling about google and facebook is you don't know what you don't know and while the internet provides a lot of openness in the sense that you have access to all this information the fact of the matter is you have basically 2 gatekeepers facebook and google which control what we have access to news organizations have to be prepared that their home pages are less important people are using. they're using twitter as their own those. are their portals. google and facebook started out as internet companies and it has changed they morph

facebook feeds and towards to, for example, internet— based payments. they are looking very enviously at wechat in china. they say it basically does everything. it's all on wechat. you don't really have to get out of the wechat app to get many things done. i can order food delivery, i can buy concert tickets, i could book an airline ticket, hire a car, hire a bike and do online shopping, and i can pay for everything on wechat pay. which allows individuals in china to live their entire lives on wechat. there are going to be all sorts of different percentages that you might be able to take, not just advertising, you might get commissions. you can start linking advertising to shopping habits. from the ad itself to the point of purchase, and you can track it all through, there are also ways you would be able to grow and monetise that. right now facebook is just making its money from ads. this is a way of building forward. but if you look at tiktok, tiktok is a chinese company. but it's gone into the heartlands of the global battle. it's faced off with insta

this was the beginning of google and less than a decade later facebook they would make a new promise to humanity what i think so interesting about google and facebook is they were founded at american university as stanford university you had 2 students larry page and sergey brin decide they wanted to create the ultimate search engine for the internet across the country you had in the case of facebook mark zuckerberg who was a student at harvard decided he wanted to create a social media platform basically to meet girls and to make friends and hence we got facebook you never think that you could build this company or anything like that right because i didn't just. write an average building stuff because we thought it was cool it was all. homicide was all about the shiny future was all about the free flow of information but there was also a certain idealism behind it i think that a company like google we have the potential to make very big differences and big positive differences in the world and i think we also have an obligation as a consequence of facebook and google started with a

and facebook still holds it. really data is a human right at least in europe, we have legislation to legislate against that that means the consumer should be in charge of the data they have on facebook, be allowed to use it, to move it >> we could talk about this for hours and rest assured regulators will be talking about this for hours, days and weeks to come. thank you for joining us this morning. >> thanks, documem. >> still ahead, a new warning by one bank about what a democratic victory could mean for the markets. plus 2019 marking a dismall year for unicorn ipos why their struggles were a drop in the bucket. and later on today, a cnbc exclusive as morgan stanley chairman and ceo joins us on closing bell at 3:00 aisle in s. prevagen. healthier brain. better life. i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can take on a bigger challenge. we are solving problems that improve lives. i spent two years alone and homeless. to one that can take on a bigg

emily: you also just met with a very early facebook employee who has argued facebook should be broken up. in a tweet, you said the meeting was a refreshing, and this guy knows a thing or two about what is coming next big tech. we thing we both agree on -- cannot just move fast and break things. you also have senator elizabeth warren arguing to break up several big tech companies. you mentioned antitrust. do you think big tech companies need to be broken up? senator blackburn: i think we need to have a good discussion about what it will look like, what the marketplace will look like as we go forward in the next 10 years, 20 years. what we are suffering from at this point in time is that congress has not taken an action to put any guardrails in place -- in place. like touch regulation is going to be best. let's do this a step at a time. they havege what access to and see how that changes their business model, like to exercise some preemption , put in place penalties and the federal have trade commission, which is in charge of regulating privacy in this country -- let's see where we get

this is not the ftc's first look at facebook. this past summer, the social network was slapped with a record-breaking $5 billion fine as part of a settlement over consumer's privacy rights. >> facebook betrayed the trust of its users and deceived them about the ability to control their personal information. taylor: data privacy is now the focus of the european union's commissioner of competition. she is investigating how data may be used to unfairly stifle competition. no place was more focused on facebook and washington, d.c., , where washington, d.c. mark zuckerberg appeared many times. at georgetown university, he defended his decision not to fact check ads from politicians. >> in a democracy, i believe people should decide what is credible, not tech companies. taylor: it was zuckerberg's congressional appearances that likely generated the most interest, as facebook's cryptocurrency plan, called libra, was called into question by lawmakers. >> is it a currency? are you a big? bank? what is this association? >> it is a very com

i started at facebook in february. before that i spent about eight years working in civil society on many of the same issues. starting in february and having the messaging that we're shifting our services was an exciting time to start. it's important to think about why this is happening. ultimately facebook has always been committed to helping people build communities, having their voices heard, many of our services, facebook, instagram, we think of as the public square. but what we're seeing increasingly is that people are wanting to have more private communications, wanting to have one on one or small group communications. they're more conscious of the private information they're sharing with one another because they're having more personal communications online, whether it's sharing stories or personal information about your life and photos or transacting business, people want to be sure that the communications that they're having over their messaging services are secure. and that's secure from facebook, that's secu

within that industry, social media advertising like facebook as well as video advertising like facebook, like instagram stories, video ads with in the newsfeed, so they are really latching onto these trends and making a lot of growth as a result. taylor: not to mention those political ads that we increasingly talk about on this program all the time. technology'smberg sarah frier, think he was for joining me. "bloomberg technology" is livestreaming on twitter. check us out. be sure to follow our global breaking news network at quicktake on twitter.this is bloomberg . ♪ theor: podcasts are paving way for the second golden age of audio and it is making money, too. that is according to the founders of gimlet media. they sold their company to spotify earlier this year for a reported $230 million, and they now had up the podcast unit. they spoke to bloomberg after being named in this week's business week 50. >> if you look over the whole history of media, every time a new medium comes about, a new media company gets built, so 100 years ago, the new medium was radio. that is when cbs got bui

argue for facebook introducing encryption across instagram and facebook messenger? this is a really troubling question. facebook is trying to respond to public demands that it doesn't spy on your data and your data is protected and secure but that leaves open the issue of abuse so i think we have to have a conversation as a society which is do we want encryption on platforms that children use? first of all. facebook isn't just for that children use? first of all. facebook isn'tjust for adults, children aren't supposed to even be on these platforms if they are under the age of 13. ben was 13, he was groomed. you're right, they shouldn't be on facebook or instagram until the age of 13 but they are. you are not going to give me an opinion on whether you are for it? i think probably there's an argument about encryption on products children use, banning encryption across all platforms won't work, we use encryption to secure financial transactions as well as all sorts of other things journalists, human rights activists, etc, there is a bigger question about why grooming o

is a very wealthy organization and can afford this the problem that facebook has is that eventually it is going to lose people's trust if it continues to behave in this way and no amount of money is going to buy back that trust and at the same time with the new g.d.p. our regulations in europe it may face big blocks for processing data and you're all even sharing data with the u.s. and if that occurs no amount of money is going to buy that back and buy them out that's jewish and there's been a very recent court case that has forced that handles that regulators in ireland were so spoke it's based in europe and the it's been told that it can't turn a blind eye to this. do you think that users of facebook of cottoned on to the fact that they're basically being harvested nonstop for their information and that this information is is extremely valuable this is how organizations like facebook make their money because the advertising revenue and other income sources that come from just knowing what you like where you go is extremely valid and people have latched on to that yet that they're

used facebook and social media to win n an election. but they didn't stop there we began to see these vicious attacks on facebook against anyone who questioned. the killings in the drug war and in october i wrote this three part series on the- propaganda war. when we released it i was attacked the propaganda machine came after us with a bag in it was immediate. you know i've been called every animal you can think of i my sexual life has beenen dissected and at the beginning i faced it like a traditional journalists we try to fight it. then you realize known you can't. it's not t ilt. you can you don't fight this by looking up content. you fight this by looking at the networks and looking at algorithms. that's when i realized something was going on and we began gathering data. so we call it the shark tank but what it is truly. social networks spread disinformation that have been used in attacks so we have more than three hundred fifty million comments one fifteen million accounts. so the data set it is probably the largest outside of fac

attention to the plan to eat while it's caliber is supposed to be integrated into facebook messenger and what's up users could then do worldwide payments and facebook's own currency libra the project has raised international criticism but facebook's entrance onto the strongly regulated financial market should give mobile payments another boost i think most likely in the next 5 years we will see big movements towards global capabilities because of players like we chat and facebook and others with these massive platform reach pushing the sector forward and as they. sort of help break down the barriers with governments to get on board and allow this cross jurisdictional use country to country use of these kinds of currency it will become easier and easier. facebook's idea isn't necessarily new ebola it's using crypto currency is a bit coin have been around for years they encrypt transactions with blocks in technology which makes them particularly safe. though currencies only exist digitally and are not regulated by any bank the most well known ones are bitcoin and. the term comes from t

antitrust you know applies to so what if owns what's up in instagram and facebook and they don't how are they called into the market by combining exactly they're really not and that's why i believe this is actually a very unfair attack on facebook and i and again i'm no fan of face rather they have had privacy issues a tremendous amount of privacy issues but the fact is that all they are doing is a volcano social media company they're not just going to stick to one thing they're just not going to be a facebook platform for ever they've evolved evolved into a streamlined chat they've evolved into photo sharing and that's why they want to just combine and merge all these services and make sense of the process of evolution but why does the f.t.c. even allow facebook to buy instagram and to buy what's up into one company if now they want to break it up if they merge the technology that's the part that doesn't make it so it really does and. some obvious president. vowed that the country would not revert back to using the u.s. dollar after the new local currency that was introduced this ye

welcome back facebook stock is down as. the federal trade commission is considering filing an injunction against the social media giant over its plans to connect its whatsapp messaging service with the chat features of instagram and facebook as i said the f.t.c. is only considering the move because the injunction would still need to be approved by a majority of the 5 percent commission and then a lawsuit against facebook would have to be filed facebook and other tech giants like google amazon and apple they have been under increasing scrutiny over whether they've taken actions that are eliminating competition in their respective markets there are also but a number of presidential candidates who are pushing the idea of breaking up big tech companies so you know chris i know you're not a fan of that look i don't necessarily think that this is the kind of thing that antitrust you know applies to so what if they spoke already owns whatsapp and instagram and facebook and they don't how are they called in at the market by combini

facebook and google started with a great idea and great ideals unfortunately it was also a very dark so. they are constructing a profile of you and that profile is real it's detailed and it never goes away turns out that google is manipulating your opinions from the very 1st character that you type into the search for it will always favor one dog food over another one comparative shopping service over another and one candidate over another they can suppress certain types of results based on what they think you should be see if they have this kind of power then democracy is an illusion the free and fair election doesn't exist the more growth we give them the sooner we're all. the same wrong. we'll just don't. get to shape out the educated and indeed from an equal trail. when so many find themselves worlds apart. to look for common ground. in the troubled 19 seventies a group of killers rampage through parts of northern ireland that was coordinated loyalists attacks particularly catholic population tens of thousands were forced to flee their homes and what was striking to put these att

someone comes to them and says, hey, there's a political ad running on facebook, and facebook says we can't help you, we're not going to police the truth or falsehoods of political ads anymore. now mr. hampton is a registered politician, he is posting all the fake content he wants on facebook because he can in order to make a point, right? facebook's decided they're not going to fact check any ads as long as they're political ads, well that means this guy mr. hampton of california can say whatever he wants. and that's exactly what he's done here with again this false ad. >> deeply troubling crisis in our country. this is crisis of confidence, of credibility and of integrity. our nation is indeed at a cross roads. will we proceed the search for truth? i'm of course referring to the investigation and serious allegations of illegal conduct by the president of the united states. >> you see the hashtag there. the implication of the ad is false, right? this is thank mitch mcconnell for supporting the impeachment of president trump. mitch mcconnell is not supporting the impeachment of presid

came from facebook in 2018. seeking to ask facebook to not deploy encryption until they can provide some way for legal warned today access to communications. experts have argued any backdoor weakens encryption and provides everyone because it would make encryption fragile. the question is is there a way to have secure communication for the masses to protect themselves against criminals and have legal access under warranty? the constitution and the laws of physics come to equilibrium on this? can companies aid in the fight of child pornography and provide secure communications for the rest of us? i will allow our panelists to open with that. we will have each panelist talked briefly about it. and then we will bring it to audience questions. meyn: thank you for inviting to speak today at this important event. about whytalk facebook is moving our messages services to encryption. i started at facebook in february and before that i worked in civil society on many of the same issues. in february and having the announc

as you scroll facebook, as you type, as you interact on the service, facebook thinks that you understand they are going to look through everything you say and do and it use it to make their system smarter. the thing is, there is a difference between a machine doing that and human beings doing that. especially with audio data. there is something so intimate about the way that this works behind the scenes. and if it was so natural and obvious to the companies, why did they feel it was not necessary to disclose it to consumers? of course, consumers are alarmed. taylor: given everything else that is going on with the lack of trust in facebook, any sense that customers are trusting facebook with this device? >> well, they are purchasing it. there is a lot of compromise people make for their own convenience and entertainment, but i think a lot of people are not aware about the network of contractors that are listening to these audios to do as matt explains, quality assurance, testing, and trying to improve the way that speech recognition works. and facebook looks at this as an accessibility is

told us his view here facebook isn't doing enough. i myself have been taking the drug for 6 years now and i've seen 0 side effects on the drug facebook is promoting an ad that makes it really hard to allow people to have a really powerful and really safe new prevention option their 1st exposure to this pale is that it is dangerous this is misleading false and also only harming public health and the efforts to hiv pandemic globally they want to act like they are the biggest game in town and they are but that means that you have some ethical responsibilities when it comes to certain areas you need to throw more accurate things about health you need to do some more things about news you claim that you are a news outlet for people in place that people get news but refused to fact check or even engage in the notion and allow people to spread lies that are harmful to people's public health harm so it's a civil discourse and they until this is a democracy. hungry for a minister says he hopes that the new president of neighboring ukraine is g

to block the merging of what's sad and sick and facebook into one after 7 close break down whether the feds have a case. in zimbabwe president says that while the country's currency is not working the nation is not going to go back to backing from the u.s. dollar so is crypto the answer so much to get to today so let's get started. and we begin with an agreement on phase one of the u.s. trade deal which will prevent a new round of tariff set to take place on sunday the announcement was made by washington on friday and they confirmed by china though let's face it both sides are being pretty light on specifics and that's being kind there are so few details being given that the markets today frankly seemed confused so let's head to the wall to break down exactly what has been agreed to here because as i mentioned one of the few specifics here actually does come from president trump which states that both sides have agreed to quote a very large phase deal phase one deal with china adding that 25 percent tariffs on chinese imports would remain in place but that the 15 percent levies on othe

and facebook and the president. in august of 2016 i gave facebook the data that we had and i said you really have to look at this because you know you have u.s. elections coming up and this is so alarming that trump could win. and we all laughed we laughed. and then when trump won in november they asked me for the dog. in the french elections that helped cool down 30000 feet of comics. this database this big data is is the story of how the mockers. became a dictatorship and that's certainly what we seem to have so we can still fight it and we're using the data to back. i'm going to do is a color is going to raise. very little when you have these legal processes are being used against us that does have impact on the business because the minute an advertiser now signs a contract with rappler there's a risk involved for them so what we did is very quickly when we saw the trend and that that advertisers were scared we then came up with a whole slew of different products that we could offer so this country the propaganda

how do you see it as the coo of facebook? sheryl: we have never run our company only for investors, and i think that is really important. we care about our shareholders, and we have a responsibility to give them returns, but that is not our only focus. if you listen to the last eight quarters, mark and i have seen earnings. we are talking abut the massive investments we are making on safety and security, which costs a lot of money, but definitely we think are the right thing to do for a broader audience. importantly, it is not new for us. one example, i think we have run our company like this from the beginning. the environment. data centers are a huge use of energy. huge use of energy. and at facebook and in our industry, it was long considered a competitive cost advantage to run your data center more efficiently. if you run more efficiently, you lose less energy, it is better for the environment, but you also save a lot of money, and that is a cost advantage. until facebook, everyone hoarded that ability. they would get che

even if you say you don't want to be tracked by facebook, facebook on your phone continues to scan all the wi-fi in your area and continues to use your cellular information and continues to transmit that information to facebook. this is another misrepresentation, and i would like to know why facebook is telling users they can stop tracking when, in fact, they cannot stop tracking. google does the same thing, by the way, and i think this is one more instance of big tech companies not being honest with us about the data they are collecting. taylor: so you think they are purposely misleading users? senator hawley: i don't know how to read it any other way. i mean, you read the post facebook put up for all of its users saying you can stop facebook from learning your precise location -- a very lawyerly phrase, as it turns out. i think the normal consumer would never imagine if they say i want to turn off my location services, that facebook is still tracking them, still tracking wi-fi, still using cellular data, the cellular network to pinpoint their location. i think it is very misleading.

some view facebook with problems. taylor: taking a positive spin on all of this and big tex taking -- big tech still taking -- why is big tex such a big portion? -- big tex such a big portion? -- big tech such a big portion? >> they have been in this intense competition for talent. tech invented the great workplace experience out of necessity. today, it is being copied by people more and more because they know that it works. the common theme is simple. opportunities where people feel like they can row am i having senior leaders that people believe in, and it is having a clear mission and a job,so it is not just that it has some social impact as well as businesses. taylor: i want to take some of what you said and look at the key themes in the top 10. in an out burger versus hub spot, what collectively made of the top 10? >> the top 10 is a really diverse group. ,e had a government employer you have ultimate software, and hr tech club company, and an out burger, financial, and others. what binds them together? a lot of

for facebook with ad revenue and record-breaking app downloads, but facebook plans to integrate them has caught the eye of the ftc. they may try and stop the plan to merge the technology platforms. this is not the ftc's first look at facebook. this past summer, the social network was slapped with a record-breaking $5 billion fine overrt of a settlement consumer rights. >> facebook betray the trust of consumers and deceived them about their ability to control their personal information. >> data privacy is the focus of the european union's commissioner of competition, who is investigating how data may be used unfairly to stifle competition. no place was more focused on competition then washington, d.c., where ceo mark zuckerberg appeared many times. at georgetown university, he defended his decision not to fact check ads from politicians. >> as a principal, in a democracy, i believe people should decide what is credible, not tech companies. >> it was zuckerberg's congressional appearances that likely generated most interest. facebook's cryptocurrency plan was called into question by la

not citizens of facebook we have no blood on facebook it's not a democracy. this process is not a way we can design the future we can't rely on this single company to invent our digital future.