facebook is the giant of social media. that scale and power makes it different from other internet companies. it has personal information about every aspect of our lives. it uses that information to create the most targeted advertising machine in history. and the ad industry loves it. the amount of targeting you can do on facebook is extraordinary. sometimes i'll be on a website called competitive cyclists, and i'll be looking at a new wheel set or something. well, they'll chase me all over the internet with ads for bicycle parts. well, if i'm on facebook and i'm going to see ads, i'd rather see an ad for a bicycle part than women's pair of shoes, right? so, as a user, i'm into it because now they're showing me ads about things that i'm interested in. it's scary. we are all walking barcodes. he laughs it's a brilliant business model that has turned facebook into a $400 billion company. we produce facebook‘s content for free, while advertisers queue up to sell us products. it's the ultimate crowd —funded media company.

gci’oss data facebook has about facebook users across the various facebook channels that exist means they might be able to target adverts based on things like one's emotional state, if you are angry or sad. what facebook will need to do is increase the price people pay for an individual advert server becomes attention for facebook whether it is willing to allow that kind of targeting to businesses. at the moment facebook users are just handing over this information about ourselves absolutely for nothing really. and yet they are building huge value on all that data they hold. will we get to a point where we can monetise our own data? highly unlikely, if a service is free then you are the product, as they say and that's the case with facebook. there are that's the case with facebook. there a re m oves that's the case with facebook. there are moves in the european union to give people greater control of their personal data but there is nothing in that raft of legislation that will undermine the business model of facebook significantly. raoul lumb, good to talk to you, thank you for your

now to facebook. shares continue to fall after reporting earnings that missed expectations, but revenue topped estimates. mark zuckerberg gave a new number on the call, 175 million people using whatsapp status on a daily basis. it is the same idea as snapchat stories feature, which facebook also important to instagram, echo --r, and the main app. social network founder and venture capitalist chamath of silicona is one valley's most candid tech leaders.we spoke with him to get his take on some of the top tech headlines. i asked him about concerns about president trump's policies. >> it's really not the policies, but the unintended consequences, and specifically what i think is scary if what the long-term impact to human capital are in the u.s. if i had to use a sports analysis -- analogy, if your job is to win a championship, you try to draft and recruit from free agency the best players in every position you can, put them on the field or the court to win. similarly, the u.s., up until recently, has be

there is a responsibility for facebook to look at how do we change facebook itself to make it easier for people to spot the sites that are not what they are cracked up to be on things that need to be checked out in more detail. yes, this is good stuff from facebook but it should only be the beginning. in germany there is already a drive to combat fake news in the run—up to their elections and with our own general election just over four weeks away the parties know that facebook a key battle ground. they will have identified exactly the types of voters they would like to target and the types of messages they would like to target them with an facebook will be the means of delivering those messages. not only that, facebook will be the means by which they understand the response to those messages and they will change them and evolve them based on that response. more than 30 million people will get news and political messages from facebook during the election campaign. a social network says it is doing its best to make sure that what they read isn't fake. rory cellan—jones, bbc news.

facebook. 700 million users. take a listen to what you will have -- what sheryl sandberg had to say. >> instagram is a very important mobile ad platform. growthare seeing strong in the increasing visualization of ads is part of why ads on instagram are so appealing. and that's even buy them the facebook ad system on facebook, the same targeting a measurement gives that platform a lot of ability to deliver results for marketers. i think it's early, but we are also seeing advertisers pretty excited about ads in stories, which has a heavy visualization and a nice ability to reach people. emily: that said, they still don't breakout instagram revenue, which ask me wonder why not? at what point does instagram meaningfully contribute to this, to the point that they are willing to show us the numbers? >> i think it's already meaningfully contributing to facebook's revenue. our forecast is that instagram will have $4 billion in net revenue and that's going to be over 1/10 of facebook's total revenue. of 36 billioner dolla

emily: the next act might be instagram, facebook's next facebook. 700 million users. take a listen to what sheryl sandberg had to say. >> instagram is a very important mobile ad platform. and we are seeing strong growth in the increasing visualization of ads is part of why ads on instagram are so appealing. and the fact that you can buy them -- the facebook ad system on facebook, on instagram, the same targeting a measurement gives that platform a lot of ability to deliver results for marketers. i think it's early, but we are also seeing advertisers pretty excited about ads in stories, which has a heavy visualization and a nice ability to reach people. emily: that said, they still don't breakout instagram revenue, which makes you wonder why not? at what point does instagram meaningfully contribute to this, to the point that they are willing to show us the numbers? >> i think it's already meaningfully contributing to facebook's revenue. our forecast is that instagram will have $4 billion in net revenue and that's going to be over 1/10 of facebook's total we have a numb

we heard one view on how facebook is doing and what needs to change. they have had phenomenal results. profits are up. revenue is up results. profits are up. revenue is up and stop a very strong performance, more than was predicted. there is a question as to whether that continues into the future. there is not much further they can push it, they admit that themselves. every time they come out with numbers, they say they cannot continue this momentum and facebook shares were down on concerns about future sales. what do they have to do to try and keep up? they need to look to widen as their portfolio. virtual reality, artificial intelligence and conductivity is something they are delving into. they had to drop prices and a product which has not really sold. what they do next and how they connect the platform together is the question. valid concern about what is on the social media site, the violent material, material of abused children which they are not taking down quickly enough. they are employing 3000 people to help with that. human beings are needed

the founder of facebook is nothing if not an idealist. facebook's mission is to make the world more open and connected. but such openness comes with dangers. with nearly two billion users now, the sheer volume of content on facebook is proving impossible to control. the leaked policy guidelines refer to areas such as extremist violence, revenge porn and self—harm. moderators are required to intervene when there is a statement of intent to commit violence against an identified and vulnerable person. so a specific threat targeted against the american president would be deleted. but a more general expression of massive such as this would not. these guidelines show that the soon to be 7500 moderators who work for facebook are often making hugely important decisions under immense time pressure. but the reporter behind the story says it's just too big a responsibility. we realise what the extent and breadth of the problems that facebook has, everything from racial problems on the site to revenge porn. there's no way that mark zuckerberg would

we re facebook and presented images that were causing concern to facebook, it ended up more than 80% of the were not removed and then facebook reported the bbc to the police. what was going on when something like that happens? when the networks find content that is illegal and it may be that they were shared illegal conduct by this journalist, they are under a legal obligation to report it. but if there is sexualised images of children which presumably are illegal, why is not facebook ta ke are illegal, why is not facebook take them all down? i have not seen those images, thankfully. what i can tell you is there isn't foundation called the internet watch foundation, partly funded by industry, the sea, the centre for exploitation on online production of young people, there is a long history of police and government working together to protect and remove, surrey, to remove these kind of images, child abuse images. that is really not addressed in this report. yes, there are examples where it does not work, it is not perfect and the example with the bbc was messy, complicated. there are

now to facebook. shares continue to fall after reporting earnings that missed expectations, but revenue topped estimates. ceo mark zuckerberg gave a new number on the call, 175 million people using whatsapp status on a daily basis. the status is the same idea as snapchat stories feature, which facebook also ported to instagram, messenger, and the main app. social network founder and venture capitalist chamath palihapitiya is one of silicon valley's most candid tech leaders. earlier, we spoke with him to get his take on some of the top tech headlines. i started by asked him about his concerns about president trump's policies. >> it's really not the policies, but the unintended consequences, and specifically what i think is really scary is what the long-term impact to human capital are in the u.s. if i had to use a sports analogy, when your job is to win a championship, you try to draft and recruit from free agency the absolute best players in every position you can, put them on the field or the court t

they said they will be hitting a maximum privacy fine to facebook. we have germany bringing itself towards its own election in september. merkel's party are also considering what would be the strictest laws ever imposed against social media giants, such as facebook, considering imposing fines of per pop if $50 million ever you saw facebook refusing to take down certain content or not being able to hear or see options to complain for those who use the likes of facebook and other social media giants. this is happening across the e.u. we just got facebook being fined 110 million euros by the e.u. today. why? because they say you give us factually incorrect data in 2014 when you are looking to buy whatsapp, saying you cannot merge the data, and you did. emily: they did to say it would not have changed approval of the deal, so i wonder if it is more of a slap on the wrist. david, what do you think? the e.u. has taken a very aggressive stance towards these technology companies. is the law the best way to handle big issues like hate speech and privacy? davi

there is a responsibility for facebook to look at how do we change facebook to look at how do we change facebook itself to make it easier for people to spot the sites that are not what they are cracked up to be on things that need to be checked out in more detail. yes, this is good stuff from facebook but it should only be the beginning. good stuff from facebook but it should only be the beginningm germany there is already a drive to combat fake news in the run—up to their elections and with our own general election just over four weeks away the parties know that facebook a key battle ground. they will have identified exactly the types of voters they would like to target and the types of messages they would like to target them with an facebook will be the means of delivering those messages. not only that, facebook will be the means by which they understand the response to those messages and they will change them and evolve them based on that response. more than 30 million people will get news and political m essa 9 es people will get news and political messages from facebook during th

while those same young people might have facebook accounts and they might check out facebook, even daily, they are not going to share their coachella videos or what they did on those public open services. you really have a hard time understanding this company unless you are a young person who is out and about, living their lives and single. people with kids who are watching or parents, they just don't understand why this is such an important service, because it is so opaque. i think snap chat is the anti-facebook in a way. facebook wants to have every single person on the planet on it. what snap chat wants is to have the most valuable niche, which they believe will be the millennials, generation "c," people born after the year 2000, part of that connected generation. they are not going to try to compete for the global user base in the same way facebook is obsessed with strog ehaving eve in the phone book. they don't want everybody. they want to be the black book of the cool kids and monetize them in a way that facebook can't. facebook doesn't have them and it doesn't have them for hours

facebook 52%. gafd gary is on the old red phone, listen to to that conference call which is under way. we will check in with him after the break. in the meantime, here's what's else coming up on "fast." >>> the apoapocalyptic tv is he. now might be a good time to buy. we'll tell you what that is. plus, cramer, cook, and the interview that will rock wall street when "fast money" returns. . >> take a check on shares on facebook in the after hours session, hitting after hour session lows. it is down by three and a quarter percent. this is a move that happened in the past few moments. let's check in for his take on what happened, david, what happened on the conference call? david? >> reporter: hi, gampl. on facebook after hours basically is reiterating our call in the second half of the year ad revenue growth will slow because ad lows are not significantly increasing. their ad watcher, software, the efforts to fight ad blocking on desktop. >> that will be the main area of weakness, from that standpoint

to facebook. the deadline has passed. we don't know if the new deadline has been set. will facebook take down all of the posts? they have taken down a great deal of content that the thai authorities say break the law here. we don't know how this will pan out in the future. critics of the monarchy, they are all outside the country, they can post material that might be considered offensive about the new king, for example. only takes a matter of seconds to post a photograph on facebook. authorities has to get a court order. it could be a facebook war of attrition. scientists from across the middle east came together in jordan for the opening of a new international research center. a particleproject is accelerator. it can study everything from to an intent artifacts. it is meant to encourage collaboration between countries that may not have diplomatic relations. there.hukman is david: in the dusty hills of jordan, a gleaming new research center that many thought would never happen. the sesame project

facebook page. they will be accessible to everyone on facebook and the u.s. starting tomorrow and they will be broadcasting a local feed. there is no comment from either side on the financial terms of the deal. it shows increasing focus on video, in particular. also on premium content that doesn't pose risks to advertisers, the same risks that users generate videos can. like the murder posted on the facebook platform. it also follows amazon to buy the streaming rights to ten nfl games for about $15 million a. deal which facebook can hit on. mark zuckerberg said his opening comments in last quarter's earnings calls, photos and videos are becoming more common than techs. he goes on to say we will keep putting video at the center of all of our services. plus if the company does that and how to work to make money from that coming up in the next couple years. >> we think about the competitors that emerged since that ipo, specifically snap, it's hard to believe that facebook started out as a publicly trad

emily: the next act might be instagram, facebook's next facebook. 700 million users. take a listen to what sheryl sandberg had to say. >> instagram is a very important mobile ad platform. along with facebook. we are seeing strong growth in the increasing visualization of ads. that is part of why ads on instagram are so appealing. and the fact that you can buy them the facebook ad system on facebook, on instagram, the same targeting a measurement gives as that platform a lot of ability to deliver results for marketers. i think it's early, but we are also seeing advertisers pretty excited about ads in stories, which has a heavy visualization and a nice ability to reach people. emily: that said, they still don't breakout instagram revenue, which ask me wonder why not? at what point does instagram meaningfully contribute to this, to the point where they are willing to show us the numbers? >> i think it's already meaningfully contributing to facebook's revenue. our forecast is that instagram will have $4 billion in ad revenue and that's going to be over 1/10 of facebook's

snapchat does not want to be facebook, the one billion user and googley facebook are. they feel like they can do better if they concentrate on a small number of users in the rich developed countries like the united states where advertising markets are very large, and that strategy is untested for an internet company, and the long-term question is there. be tested,ng to especially when someone keeps stealing your ideas. you're going to focus on one product, but unfortunate everything you do gets copied by instagram, and they have more users. >> that is the issue. you look at user number starting from last summer when instagram rolled out stories, and the user growth started to slow down. they added 8 million users and the first quarter compared with the fourth quarter, and that is markedt slowdown -- slowdown. joe: you mentioned snapchat does not want to be in the same category as facebook. it described itself as a camera company, but if it is in the , partategory as facebook of the fear is that these are network effects, winner take all psall these big mega ca don't ha

to facebook. so the eu commission were like that's fine. the merger can go ahead. what happened in 2016, facebook and whatsapp updated the terms of service agreement and linked whatsapp numbers to facebook. and at the time whatsapp said this will allow us to connect numbers with the facebook system and allow you better friends suggests tons. the eu said hold on a minute, you said you can't do that. facebook went and did it. so this is what it centers around. that's why the fine has been given to facebook. it's significant in that if you look at what the european commission has been doing, it's going after the likes of google, apple and facebook. this is the first significant fine that's come under the eu's push here. >> are more to follow? given that the eu commission competition chief has been quite aggressive, not just when it comes to apple but also the m&a. >> aggressive is the correct word. we know absolutely that google is still under investigation when it comes to the antitrust side equatio

so you're facebook and you want a facebook valuation and if you're not you deserve a lesser valuation because you won't take over the world. >> the story they can generate a lot of revenue out of the folks who are currently using the service and other folks like them, if they continue to use them more it's a good story. >> it's been their consistent story. >> very capped relative to everyone in the world will be on snapchat all day long. when you look at the modernization of this platform potentially very different than twitter. this is a highly visual video centric platform. >> not very different than instagram's story. no matter how many times they say daily users doesn't matter n-is agram mimics the snap product. >> people use it differently. it's not a zero sum game. you have to believe that instagram will take some of the market away, spending. say look we can do that too. if nothing else some of the market opportunity is gone. >> that brings us to the point that julia made during the call. he was asked about zuckerberg and if he was afraid of facebook. just because yahoo! has a

so back to your original point about facebook, facebook didn't have facebook trying to put them out of business. facebook came at a point where they were in uncharted territory. zuckerberg to pete's point i think is doing everything he possibly can to sort of blast snap. >> and snap's user group, they are not loyal. >> that itself the other aspect i think you have to look at. they're wonderful, everybody wants that demographic. they are not loyal. they'll move to the next thing and the next thing. facebook is much stickier, it continues to grow. >> there were seven lead managers on the ipo. around that ipo price, they're all going to be there supporting that ipo price. >> they need a floor. >> i don't know about a floor. there is definitely going to be seven sell side banks that should be having their neck out on the line buying the stock if that's where they priced it. >> more on snap's first earnings report, let's go to venture founder gene munster onphone his red new i phone. >> if i was going to give them a quarter grade, i'd give them an f. i don't want to say the company is an f.

al igual que yo son fanÁticos de facebook live. caro: esta ansioso porque siempre quiere aumentar su cantidad de seguidores y entre mÁs comentarios tengas es mejor para ti. >> y un dato extra, la gente que bebieras en facebook live, comenta mucho mÁs que en cualquier otro vÍdeo. caro: fantÁstico. gracias. >> gracias a ustedes, chicos. caro: bueno, hasta maÑana, yarel:el presidente donald trump y el papa francisco se reunieron en el vaticano. llega el verano, conozca los peligros para los niÑos que buscan refrescarse en la piscina. sabe lo que regalarle a su graduado? lo tenemos opciones. yarel:buenas tardes, me da mucho gusto saludarlo. gracias por acompaÑarnos

"the guardian" is unmasking some standards which facebook has not confirmed. it is just fascinating to look at the different things. if i make a credible threat to you, that can be taken down. make a throw away threat that is not specific about when i might hurt you, that is fine. emily: let's look at some of these. they are a little confusing. videos of violent deaths may be allowed if they create awareness. not shared with sadism can remain. butal abuse is allowed needs to be classified as disturbing. moderators are saying they have 10 seconds to decide whether to remove it. these are kind of intense calculations that need to be made in that time. >> very intense calculations. that is one reason why facebook realizes it is incredibly understaffed in these efforts and adding all those people around the world with 3000 employees, these are hard decisions and very human decisions. these are ones they cannot yet tackle with artificial intelligence. they're counting on these workers, in many cases contractors, to make these calls about what should remain on the n

if facebook and make money, especially on mobile. mark zuckerberg was could decide -- criticized for buying instagram for $1 billion. start,as that rocky trading below the ipo price for the first 14 months as a public company. we know how it has turned out. facebook is now one of the largest tech companies with a market cap of $425 billion. shares have jumped more than 280% since may 2012. coming up, alibaba shares fell after the chinese e-commerce giant's quarterly profits missed estimates. ceoill discuss how the plans to boost revenue, coming up. this is bloomberg. ♪ alisa: you are watching "bloomberg technology." a check of first word news. iran strike back against st. the u.s.sanctions opposed with sanctions of its own, penalizing seven entities and two individuals. iran votes on a new president tomorrow. the incumbent moderate helped or destroyed the nuclear deal with world powers. france convened its cabinet for the first time, a calibrated they'll its 22 figures from the left and right. there are concerns president macron's

we will have more on facebook coming up. one of the top ranked forecast, michael pachter will join us from los angeles. betty: let's weigh in on the fed. they are keeping the june option open. we will discuss that with ameriprise financial. this is bloomberg. ♪ yvonne: this is daybreak asia, i am yvonne man in hong kong. betty: i am betty lou here in new york and the fed signaling its gradual rate hike approach intact despite recent economic weakness. our guest is optimistic. russell price, the senior economist with ameriprise financial. he is among one of the most accurate forecasters of the u.s. economy. also from bloomberg intelligence, chief equities strategist. russell, let's talk to you about the fed's statement. are we on track for at least two hikes? i think we are on track for at least two more hikes this year. were was one in march, and expect one in june. and we expect the third to come in december. we think the economy is strong enough to support that outlook and sound enough for the economy to absorb this addi

there is a lot to read but essentially, it shows that facebook have such a mighty problem. are you a publisher, trying to understand what people are posting and determining whether it is right or are you not a publisher, are you a new media company of some kind? certainly various issues have come up certainly various issues have come up in this suggesting facebook themselves are finding it difficult to make a decision within seconds as to make a decision within seconds as to what they do and don't keep on the site but this is why the internet is going through a tricky phase. even one of the founders of twitter is quested, evan williams, as saying the internet is broken. this is a period of introspection that the internet is going through. so, le pen abandoning frexit. would you believe it? le pen in the telegraph, one of her senior officials, is saying that, i think it's time we have to ditch our long—standing policy of coming out of the euro. frexit is no more. they realise the people voted for macron for a reason. they are saying, no more. this is her attempt to get bac

on facebook live video. no, that is not derail the juggernaut at all. commentaryd social but not actually affected the business by any noticeable degree. we can see potentially if that happens, but i highly doubt there will be evidence. what could derail them is public sentiment shifting against them. scarlet: we have tesla results coming out. julia: yes we do, and adjusted loss of$1.33. the estimated loss we were expecting was $.82. that is wider than we were expecting. they are heading into the second quarter. i just picked up their statement, the model 3 is on track for initial production in july. the growth margin on automotive's in the fifth quarter improves to 27.4%. what are we thinking here? thanficantly wider expected. scarlet: it was still up at 2%, at least the initial blush. joe: none of these numbers seem to matter, it is about whether the story is intact and whether people still believe in elon. david: and they do. you are pointing out the contrast between facebook's profitability business and

this is a statement from facebook. sarah t roberts is assistant professor in the department of information studies at ucla. thank you forjoining us, we appreciate your time. do you agree with facebook, is it not reasonable to say it is impossible for them to get this precisely right?|j to say it is impossible for them to get this precisely right? i think they certainly do have a rubber serious kettle of fish to deal with although their statement takes out of the picture the fact that they thrive on this user generated content would they solicit and which underpins the entire economy of their platform. so what would you have them do to moderate better?” think the guardian and its articles around this is one move in the right direction and that is into the direction and that is into the direction of transparency. it is certainly true that facebook will have to content with all types of content from all over the world for the foreseeable future but the issue is not whether or not it should have to co nte nt is not wheth

julia boorstin has the one key takeaway from facebook's numbers. >> reporter: facebook outperformed expectations as it continues to grow its user base and brands look to reach facebook's 9.4 billion users, which sheryl sandberg told me is driving the company's results. >> businesses know they need to reach current and future customers where customers are, and that's on mobile. facebook and google are the largest mobile platforms there are. we're experiencing a strong growth in users and a strong growth in advertising. i think those two things go together. >> reporter: sandberg also said while instagram is now a driver of the company's revenue growth, they see potential to generate revenue from their messenger app down the line. i'm julia boorstin in beverly hills. >>> facebook will hire 3,000 workers to monitor content and remove questionable material following postings of suicide and murder. the employees will review millions of reports that facebook gets each week about posts that may violate its terms of service. facebook already has 4500 workers who review posts. >>> federal reserve policyma

that facebook will be facing those kind of issues. in two thousand seventy a former facebook stafa says its role is not to be the arbiter of what is and isn'. offensive material it's not just about people making up as they go along. over many years this rule book has been built up as new social problems come along. new uses of the platform come along. the company says we work hard to make facebook as safe as possible while enabling free speech. in addition to investing in more people were also building better tools to keep our community safe. amy wilson who is self harmed in the past was upset when i lost by facebook to remove images of her healing wounds. she believes such images can symbolize recovery but the images of people in crisis should never be shown. i don't think photos that actual south harm on somebody doing it on the live streams. old full siblings i don't think they should be shown at all. i don't understand how that could be any positive nf. facebook say they work with law enforcement to save lives. but all this is unc

>> i expect higher prices for facebook. melissa, one of the reasons why, is an element you just alluded to, hiring of 3,000, essentially monitors for some of the content on facebook. that is one of the reasons they're making news. the fact they're so quick to address it is emblematic why this company is at a new all-time high, why it is must-own blue chip regardless of today's earnings. apple down on the open, came back to close not far far from the highs session. facebook is all-time high. that is a buy signal not a sell signal. melissa: shanna, he is talking about how quick they are to address prompts. -problems. for me as a parent it is none stop. i'm hearing things live on facebook i definitely don't want my kids to see it. they're young. i won't let anybody on there. i know i won't be in control of that for long. but you can't have that nd of sentiment out there. seems likevery day you're hearing about another story of violence. they are, they are more quick to respond i think some people expected because, what they ha

why when it comes to facebook? >> i mean look, the quarter was good, they're growing and you can't ignore it if you are an advertiser, but you have to think about a couple of things. first of the matter is where are the incremental drivers going to come from? we already know it is priced in that ad is going to slow. but we're seeing nothing out of the fact they will be expanding inventory much more aggressively on adjacent portfolios like messenger, and instagram is starting to peak. those are the questions. on top of that there's a lot of issues around the live video, the fake news. how will you combat that? what are the implications of engagement? as you have growth on adjacent portfolio apps, is there a question of cannibalization on facebook core. so there areness questions that i think need to be answered because the issue is the expectations are the greatest, delta between the written consensus estimates. there's a mismatch there. >> fran see, that doesn't have you more cautious in this environment. what abou

the younger demographic was quite shocked, my father now on facebook. that is where snapchat a rat today. the challenges, are they going to be able to grow their user base to truly monetise? because the big revenues will only come if they have a far more inclusive user base, there is no doubt about that. also, as the eu's chief brexit negotiator, michel barnier, prepares to address the irish parliament, we are on the border between the republic of ireland and northern ireland, where brexit talks will be closely followed. that is because, of course, it will represent britain's land frontier with the eu once it leaves, and businesses there are worried about what that border will be like, as the bbc‘s dominic o'connell reports. this is what we will be once britain leaves the european union. the main land border between the two. they might not look like it, but the tranquil waters here are actually an international frontier. tranquil waters here are actually an internationalfrontier. 0ver tranquil waters here are actually an internationalfrontier. over he

and as you said, oliver, facebook's product was a huge part of it. there was one moment in 2011 where facebook's head of comms came up to her and said, we are opening profiles, setting you up, setting mark up, and she and mark zuckerberg were like "no, we don't want to do that." and you know, the facebook comms person said you have to. it is your product. they are sort of leading by example. oliver: up next, what the fall of bill o'reilly means for fox news and anchor sean hannity. then, apple dips its toe into hollywood. that is next on "bloomberg businessweek." ♪ oliver: welcome back to "bloomberg businessweek." i am oliver renick. in the features section, fox news host sean hannity has become one of the biggest winners in cable news. this is thanks to his early backing a president trump. and now, the fall of bill o'reilly. we spoke to a reporter. reporter he is an anchor at fox : news. he anchors their 10:00 p.m. hour, and he is one of the personalities who has been at fox since its launch in 1996. he was there at the beginning. he richly had a

almost 60% said they would drop facebook first. i don't know if they are just saying that and they are completely addicted to instagram and facebook. google won for they would drop that last and google and apple and amazon were pretty close there. i can believe that. >> i would drop google first. it has the most analogs. there is something else i could use. probably the last one i would drop is apple. >> because you love your consumer products. >> yes, i use them every day. >> john is right that google has microsoft and apple as contemporaries. it is easy to give up google. when the majority of people saying, they would give up facebook, that's like lena dunham or rosie o'donnell say they are going to moving into to canada. completely fake news. >> microsoft, maybe. i could get another word document. >> in the corporate environment, microsoft is pretty indispensable. >> do a brackett where you put them heads up. would you give up amazon or facebook. google versus amazon. you give up google. i think amazon wins the day in a brackett

today, facebook c.e.o. mark zuckerberg announced they will add 3,000 more people to monitor live video, after problems with violence and hate speech. hari sreenivasan takes it from there. >> sreenivasan: the decision comes after a series of cases where people shared live video of murder and suicide. recent examples: a murder in cleveland last month that was posted live on facebook; and, a man in thailand posted video of him murdering his 11-month-old daughter. it was not removed for 24 hours. once facebook makes these announced hires, there will be 7,500 employees to monitor thousands of hours of videos uploaded constantly. farhad manjoo is a tech columnist for the "new york times," who has been closely covering facebook. he joins me to talk about this issue, and other questions facing the company's role. farhad, so let's first-- today's news. how significant is this? >> i think it's significant. i mean it's a significant sort of step up in their ability to monitor these videos, and it should help. the way

what facebook does not want to do, be labelled as a publisher. it does not want the responsibility of billions of people posting these things, all the time. but increasingly, railroaded in that direction. also, the broader dialogue with politicians, exactly how facebook is seen? facebook has just acknowledged a report, acknowledging that it has political propaganda and it has to take positive action against that. it is the first thing that we have acknowledged that. it has also been blocking tens of thousands, set—top to broadcast this misinformation. it is much more visibly proactive than it has been in the past. it is desperate for people to think it has been taking this seriously. and we can confirm, that middlesbrough have lost two juicy, can confirm, that middlesbrough have lost twojuicy, going down can confirm, that middlesbrough have lost two juicy, going down from the premier league. we will see you tomorrow. thank you forjoining me. we can see what the weather is going to be doing over the next few days. it is certainly quiet at the mo

it has accused facebook of stealing itself driving technology. it seems both sides of that case have squared off in court. a very bitter battle. waymo says that uber concocted a conspiracy. uber denies it is doing any of that, saying it isn't using any of the disputed technology that waymo is so angry about. while we've been stood here, and uber self driving car has been circling this area. i don't know if that is trolling orjust a sign of power, but it is quite a sight to see. that was dave lee in silicon valley. there were no surprises from the us federal reserve's latest meeting. the central bank kept the cost of borrowing on hold. it downplayed week first quarter economic growth. it's a sign it is still track for two more break hikes this year. consumer spending continues to be solid. inflation has been running close to the fed's target. australia's fourth—largest lender nav reported a rise in profits, boosted by lending growth. the bank's profits rose to $2.44 billion, however the company did signal concerns over slowing housing price grow

facebook has a vested interest to try and do something about this because facebook is the big vector for how this spreads. if you look at the big fake stories that spread in the big fake stories that spread in the us, facebook was how they reached millions and millions of people. so there is a lot of pressure on them to do more, and a lot of people are hoping there is some technological fix. there probably is more that facebook could do but we are all going to have to learn how to look out for this. so facebook forking out a little bit of money to try to put some tips in front of people is at least a start. what are your top tips for people avoiding being sucked in by something that is fake? the ones facebook app published a very good, but a really important one which often people forget is that fake news, misinformation, is designed to trigger a strong emotional response. like click bait, it is exactly how it works. if you think something is funny or it makes you angry or shocked, that is when you need to start applying these tips, like seeing if it has another source, looking at th

facebook secret rules on hate speech sex violence and terence in the facebook secret rules on hate speech sex violence and terence in seen guardian. the guardian has seen i it has been guardian. the guardian has seen 5 it has been picked up by these and it has been picked up by these and it has been picked up by the telegraph. we can't see that there is a facebook reply on this front page so i will do it for them ina front page so i will do it for them in a moment. caroline, this story will interest a lot of people. the rules that seem quite... this has implications not just media rules that seem quite... this has implications notjust media like ourselves but anybody who does get on facebook, enjoys is it and uses it to engage with their friends. we know about the rules that our data is being shared that it is now going a little darker because facebook is still refusing to acknowledge their increasing status as a publisher of almost unparalleled influence across the world. what the guardian has done is uncovered some training manuals and ethical guidelines and all sorts of tree diagrams f

. >>> policing facebook. after shockingly violent videos were posted on the social media giant, the new plan to keep them out of your feed. >>> vital vitamin? millions take it but is there any benefit to vitamin d? what experts now reveal. >>> and bright idea. a winning strategy helping kids shine at sports. "nightly news" begins right now. >>> good evening. to our viewers in the west. for the first time the head of the fbi, james comey has publicly explained why he delivered that october surprise just days before the presidential election, that the fbi was reopening the clinton e-mail investigation. comey told a senate hearing today that while he was sickened by the possibility he might have swayed the election, he stands by his decision. and he revealed never before heard details of what was discovered during that second round of the clinton investigation. our justice correspondent pete williams has the full story. >> reporter: a public and passionate defense from the fbi director for his decision to disclo

scott budman joins with us this big plan from facebook. >> reporter: facebook admits it has a problem with videos. 3,000 new jobs. if you want one of them, be prepared to watch a lot of video. while facebook's growth has been nonstop, the biggest part of the growth, live video, has been awkward, and in some cases disturbing. one man boasted of a killing on facebook live. others have used the site to broadcast suicides. >> they have to do something or they are going to get people leaving their site. >> reporter: facebook says it will hire 3,000 people to monitor posts. joining the 4500 already doing so. in a statement today, the ceo mark zuckerberg says, we've seen people hurting themselves and others on facebook, either live or in video posted later. it's heartbreaking and i've been reflecting on how to do better for our community. the hiring also an admission by facebook, the technology alone can't solve the problem. >> it's going to be a very difficult task. but i applaud them in take thing step, because it's showing that they're serious about the fact that facebook is good and bad.

utilizo facebook live para transmitir su decisiÓn. gobiernos municipales y oficiales de la ley deben hacer cumplir las leyes federales de inmigraciÓn y las peticiones de detenciÓn. javier: fÍjense, aquellos jefes de policÍa, alguaciles y jefes de los recintos que no cumplan con la ley enfrentarÁn castigos que van desde una multa civil de 25.500 $, hasta la destituciÓn . eso, de alguna forma, los obligarÍa a ir en busca de las personas indocumentadas para hacer su trabajo, como lo dice esta nueva normativa. carolina: la mayorÍa de jefes de policÍa en texas dijeron que estaban en contra de esto, porque va contra la confianza de la comunidad. recordemos que texas es el lugar donde habita mÁs de 1 millÓn y medio de documentados. javier: es un tema muy polÉmico, recién estÁ comenzando. tenemos que ver los coletazos que va a traer. human rights watch teme que en el gobierno el presidente trump mueran mÁs inmigrantes indocumentados.. esto mÁs que las muertes del 2012 2015, cuando el estaba al mandato el presidente obama. caro

the facebook communications person said you have to. it is your product. they are sort of leading by example. oliver: up next, what the fall of bill o'reilly means for fox news and anchor sean hannity. then, apple dips its toe into hollywood. that is next on "bloomberg businessweek." ♪ ♪ oliver: welcome back to "bloomberg businessweek." i am oliver renick. in the features section, sean fox news host sean hannity has become one of the biggest winners in cable news. this is thanks to his early backing of president trump and now the fall of bill o'reilly. we spoke to reporter -- >> he is an anchor at fox news. he anchors their 10:00 p.m. hour, and he is one of the personalities who has been at fox since its launch in 1996. he was there at the beginning. he richly had a show called hannity and -- it was a left-right crossfire style. for the past several years he has been anchoring the 10:00 p.m. hour. he has always been basically somewhat in the shadows of the top personality at fox news, who was always bill o'reilly. oliver: that is the why now element th

facebook has a monopoly in social. it has been able to extend a lot of that leverage into instagram. they have decided -- they have been copying every feature of snap. i don't think snape is prepared culturally inside to defend itself against a company that powerful. emily: are you still a facebook shareholder? roger: i am. emily: do you think snap goes away? roger: it is hard to say. they have a lot of cash but i worry about their business. is hard to sustain growth in a business when you have a focused, committed, and deep-pocketed competitor. i would not want to own snap. is it depressing facebook had to copy the snap features? roger: i agree it is depressing. companies with big economic power get to set the rules. we as a country made that choice. i don't think that is the best thing for innovation. i think it kills startups. if they kill snap, it is unicorn willther get public above its last private round. that is deeply -- that should be deeply troubling. none of the others has. snap is struggling to fight off fa

. >> facebook's anti-fake gold mine. all that ahead on bloomberg businessweek. ♪ >> we are here with bloomberg businessweek editor-in-chief make an murky. let's start with the opening remarks. you do a great job summarizing a complex edition but it keeps on going deeper and that's the political corruption that exists in brazil. tell us how you guys took decades of corruption and synthesized it into this really good piece. show that even decades of corruption is actually sentries old in brazil and sort of deal back the layers as -- of the carwash scandal, which is this latest scandal that's been enveloping brazil. it takes us back to the president before her and its enveloping in the existing president and has the roots in the structure of brazil generally, one of the last countries in western america to have a monarchy that was departed in 1889. but if you go back that far and see the sequence of scandals they have grappled with, it's a natural outgrowth of how the government was set up over not just decades, but centu

facebook under pressure. the social network turns in a blockbuster quarter but growth concerns weigh on shares. >>> washington watch. republicans say they have the votes to pass an obamacare replacement. >>> and tim cook on the record. apple's chief unveils a major manufacturing push in a cnbc exclusive interview with jim cramer. it's thursday, may 4, 2017. "worldwide exchange" begins now. ♪ >>> good morning. welcome to "worldwide exchange" on cnbc. i'm sara eisen. i'm wilfred frost. good morning to you from me as well. it's throwback thursday. in honor of facebook's latest results, we're throwing it back with the most liked singers on theocial site. >> good theme. i don't know who this is. do you? >> no. selena gomez i'm told. >> most of the averages yesterday ended little changed after the fed -- pointing to a higher start this morning. s&p futures up 4. dow futures up 33. and nasdaq futures are up 3. the big stock to watch today will be facebook. shares under pressure, this despite a much better than exp

. >> the inbomb inable content that facebook carries on facebook live and other sites. dziuk ber -- zuckerberg is not doing much despite this. freedom of speech, no. he's got to draw a line. there are companies out there that have software that can stop these sites from even getting on to facebook but he's not using them. he's trying to cut down the time that it takes to stop and help if somebody is in a dier situation. from a shareholder's standpoint it doesn't matter until advertisers pull out en masse. >> when you saw 50 plus advertisers pull out of o'reilly on fox because of allegations of sexual molestation and harassment, that's going to hit back soon. advertisers do not wan their ad on objectionable sites and even an hour or two, what it's taking on fabds now to get them off, that's not acceptable to an advertis advertiser. >> in terms of the news feed, they've really cleaned that up, correct? >> zuckerberg, let's give him credit. he saw mobile as the dominant medium years ago and now he sees video as the dominant medium on mobile and what's happening is facebook