introduce us to his work. particularly, facebook likes and profile pictures. they will help us to begin to grasp how sussman's are being and could be used to shape our political and social reality. join me in welcoming michal kosinski to the stage. [applause] >> hi, david. good evening, everyone. david: thanks for helping us pure behind this curtain. maybe we can begin by having you describe your work for us. what do you believe can be learned from our facebook likes and profile pictures. again for having me here. i am a competition scientist. i am working mostly with data, in particular big data. withad of spending time research subjects in my lap or running small experiments or maybe learning about people using surveys, i would look at the digital footprints that you so nicely introduced before that we are all leaving behind while using digital products and services. a is a great time to be computational scientist, a great time to be made. at the moment, because -- we all enormous amount of digital footprints. we are an estimated megabytes per day per person. if you wanted to put it on p

in facebook's numbers it is strong numbers from advertising driving the demand. >> this is what we call jason, the sweet spot of the secular trends we have been talking about for most years >> i think it is fine to summarize it as yum-yum for the tech industry. if you look at the growth in advertising, the majority of the growth is two players, google and facebook on a percentage basis, they are running this as smaller numbers in advertising i think that number is running now, google and facebook are going to run the table he said, what would we do with the computer power and then come up with the crypto currency thing to mime the coins, this is stupid and wasteful of energy but selling a lot of video cards and helping amd. then you add self-driving cars that people didn't anticipate. then the gamers seem to, can't get enough of increasing the frame rate and getting bigger monitors so you don't need to play a game in 60 frames a second at 4k. for some reason the gamers can't get enough of the it. >> amd is also a counter argument to all this mo nonnopoy talk because one of the tech

revenue review that is solid. turnaround under the ceo lisa sue happening on the new chip. facebook, paypal, facebook expected to post more than 40% year-over-year growth on the top and bottom line, so the growth there. suggestal, the option that this could move by 6% upper down. speaking of options, we are going into the bloomberg to take a look at this. investors facebook, very bullish. white, the shares of facebook trading near record highs and in inge the call to -- climb into the quarter. earnings reports adjusting the investors are expected to be strong, even though the stock is hitting up against strong selling pressure. interesting to see what will happen and we will know soon. julia: great work. those results out in 30 minutes, we will be discussing them. ask to the federal reserve and the decision to leave the rates steady. they say they will run off the balance sheet relatively soon. and we have the oppenheimer funds ceo -- cio. joe: thank you for joining us. a couple of language tweaks. we are not seeing much reaction, but a little bit of the lower yields at the long end

-hours. facebook hitting an all-time high following its earnings report the conference call is just getting started right now. and julia boorstin is in las vegas. she just spoke with chief operating officer, sheryl sandberg, moments ago. julia, what'd she say? >> sheryl sandberg telling me that they are excited about the strong performance in the quarter and she pointed to the rise of mobile and instagram, in particular she didn't break instagram's revenue, but she said that they now have over 15 million businesses using business profiles and instagram joining the 70 million facebook business pages. i asked sandberg about concerns that the company would no longer be able to rely on higher ad load to drive growth and here's what she said. >> our goal is for the ads to be really high of qualiquality. when you see a post from a friend, you want the ads to be as high quality as those posts and so we've been carefully tracking the exact of ads on the user experience over the last several years. ad loads up from a few years ago and we've been able to do this by improving the quality and t

half a league from facebook and they reveal that the site's censorship rules are getting many black activists banned on facebook posting political dissent is now considered to be as offensive as physically threatening someone or posting a picture of a nipple you know whether although i will argue nipples can be dangerous they i i once knew a nipple so charismatic it could topple the regime it really got these guys is seeing your facebook her name again. were. leaked i have told you how awful dictators i don't know you know well they're pretty powerful. anyway these legs our. terrible news for facebook but great news for my eyes. my space is like we may have allowed child pornography but i always warn right. away and children of all types everyone is criticizing facebook now but they're doing their best to limit hate speech on line by using an algorithm that protects all races all genders and all disabilities but all ages you know so you could post something like. should be bludgeoned to death with dictionaries whenever they are brigade the word super as supes you know you. always yo

slapped with antitrust regulation, could facebook be next? are now looking into the world's biggest social network collecting information from its users. car affect the auto industry? now to the league. you do have to take into account low trading volume in the u.s. the trend is still clear with technology stocks failing to join this risk on mood. winning a seven-month streak. isn't a long-term trend for technology? let's ask our guests hop -- posts today. i will start with james. now is at a record today. nasdaq is lower. volatility is low. i will quickly show you a chart i got on the bloomberg if you type in #btv 859, volatility has continue to elevate itself within the stock market. james, what does this mean? james: it is interesting that tech is up 16% this year versus the broader group of 8%. this is a situation where replicating the performance in the second half is difficult. at the same time, you can break it down into smaller components, tech continues to be doing better than it was in historical high-value. the times during bubbles is also lower. you can make a fundamenta

states. on facebook reports a major bump in profits. hello and welcome to asia business report. i am sharanjit leyl. to asia business report. i am shara njit leyl. taiwanese electronics manufacturer foxconn just announced plans to build a flat panel screen plant in the united states. at an elaborate press conference in the white house a short while ago, foxconn said it is investing million —— $10 million. i asked our correspondent how big a deal this is for the us economy. president trump campaigned on the idea of bringing manufacturing jobs back to the united states, especially in america's heartland. so certainly from his perspective, and from his base‘s perspective, this is a really big win. you see this is a really big win. you see this company coming in, investing $10 million, that is going to create 3000 jobs, and is just $10 million, that is going to create 3000 jobs, and isjust beginning. from the perspective of the governor of wisconsin, where the plant will be built, he has said this is going to then explode into up to 13,000 jobs. so there is certainly a lot of hope

north carolina law banning registered offenders from using social media sites like facebook and twitter. the court ruled that the law violates the first amendment free-speech rights and justice corsets do not take part in the case. from february this runs in just over an hour. >> we will hear argument versus morning case 151194 packing him versus north carolina. mr. goldberg. >> may please the court. there are three principal features of north carolina's lot that make it a start infringement of the freedom of speech. first, section 2.5 pieces of fast sobs of core first amendment activity that is totally unrelated to the government preventative purposes. mr. packing is not accused of communicating with or viewing the profile of a minor. he violated section 2.5 by speaking. his friends and family about his experience in traffic court. if today he would to view or respond to any of the thousands of twitter messages about his case in this court that would be a felony. second, the lot does not operate in some sleepy first amendment corner. it operates in free-speech on the platforms

facebook grow? plus made in america. president trump hails a $10 billion taiwanese investment as proof he's making a difference. but one critic calls the deal a corporate welfare package. welcome to world business report. i'm ben bland. also coming up: charged up — samsung's on track for record annual profits as it puts the exploding phones scandal behind it. we start in silicon valley where it seems there is no stopping the world's biggest social network. facebook has seen another huge jump in profits as advertising revenues keep on rising — let's show you just how big. in the three months to the end ofjune, facebook made a net profit of $3.89 billion. that's a jump of 71% on the same period last year, and better than wall street was expecting. injune the number of active monthly users crossed the two billion mark. that means more than one in every four people on the planet use the site at least once a month. and according to these latest results it's still rising. not surprisingly, so is facebook‘s share price. it has climbed by more than 40% since january — giving the compan

parties and facebook posts for instance which of which post partisan facebook posts are more sicked after news on the established media the question is why do you think people turn to post and facebook as opposed to the mainstream media space well right so now the question that reflects the echo chamber nature of social media which is a huge problem but it's not just a huge problem in america it's a huge problem world wide where people are. rich. reaching into that try and when they use particular facebook but also twitter they use these scenes to confirm what they already think but it's also true of television. in america for work says let me let me just finish this point about a television in america you have an echo chamber television culture where the left watch m.s.m. b c and the right watch fox and it doesn't really give them any news it simply lectures them and confirms what they already think social media is part of that but to pick out social media and say that the parts of media. innocent i think would be a mistake the question is do you mean like the social media gives th

profits — and a big thumbs up from wall street. but how much bigger can facebook grow? live from london, that's our top story on thursday the 27th ofjuly. revenues and profits soar at facebook — as advertising dollars pour into the world's most popular social media site. also in the programme. the e—commerce giant amazon launches a delivery service in singapore — going head to head with its chinese rival alibaba. here is how the european markets look at the start of the trading day. the ftse is a negative territory. we will have a look at the markets later. and piggy—backing a mobile network. we'll be looking at the growing trend of virtual network operators and ask who's winning — the consumer or the company? and as facebook earnings surge 71% and its number of friends swell to over 2 billion, today we want to know — are you a facebook friend or foe and why? let us know. just use the hashtag bbcbizlive. i have just sent to a friend request, i hope it will be accept it! hello and welcome to business live. we start in silicon valley where it seems there is no stopping

degree of difficulty when you were forced to compete with the likes of a facebook >> yeah. you know, it's great that snap is an innovator. the question is, can you be an innovator that makes money in the face of somebody who can imitate your innovation. i mean it's an innovation. but it's not all that hard to do somebody with a lot of money and a giant user base, user base being sort of the source of your revenue, you have to compete with them. i mean, can you actually do it >> i'm wonlderidering is how mua resetting of the expectations of how great the companies r people are talking is snap the next facebook or at which timer maybe it's just kind of snap it's a pretty good business. i look back at box box ipo was in the mid 20s near the mid 20s i believe still hasn't recaptured that level. it's been a couple years i think people are feeling better about it. might we enter that space with some of these names like blue apron, et cetera that, are disappointing now? >> at a price, it always happens that way if it gets down low enough and basically the fundamentals can support. that i t

facebook leading the way, we'll tell you what to expect from those numbers, as you saw there, some of the other major preparations with pretty good gains today. >> and dow components, bowing in particular pushing that index higher, it's still up 76 after the fed's decision and shares are soaring today after earnings we're going to have ben axler who was sure to tell us what he's doing with the stock now. >> first, let's get to our closing bell exchange for this day with the dow up 78 points in record territory samantha is with us. she's at post nine with steve grasso from stewart frankel and rick stan telly, i'm sure is still reading over the fed's statement that came out an our ago. it's very extensive there. >> you know, steve, we were talking last week about how even when a company reported better than expected numbers, the move higher for that stock was limited whereas if they came in below expectations, they were punished greatly this week, a whole different mindset it seems >> whole different script. >> when you come in with different numbers -- >> i think this market is really, i u

to the half >> welcome to the halftime report our top trade this hour slashing facebook the stunning downgrade to sell the analyst that made that call is with us live today. is it time to get out of this market darling with us today joe, jim, josh brown, steve is here as well also from los angeles today is ross levinson. the media insider and cnbc contributor. >> investors are considering the risks to the companies growth. making that move today joins us live brian, welcome. >> thanks for having me. >> yeah, one of the big reasons that you made this call today. >> there's several my view on the stock in business is that it's a great business and a great stock accept for the fact that it hasn't gotten a lot better in the last 8 months. in fact the conditions around it have gotten worse. you know political macro uncertainty. that's not good for them you have more awareness at least on my part that's a new consumer privacy protection policy that will be in effect as of may of next year. that's using data to target advertising that very few investors are even aware of in the united state

are up 28 part of the story there, facebook shares rising to an all time high following better-than-expected earnings and revenues, driven by higher mobile ad sales. we'll talk to a facebook analyst in a few moments the initial gut reaction was to fall 3.5%, 4%, then it came back up to the flat line. and now looks set to open up almost 4%. another banner quarter 70% income growth. 40% revenue growth 2 billion users. the stats are unbelievable >> in contrast to alphabet earlier in the week. >> asian trade for you, mostly positive coming off the back of the dovishness of the fed yesterday. hang seng is up 0.7% leading the charge europe markets look mixed. this comes off the back of two or three strong days also comes off the back of a huge number of corporates reporting in europe. would have to say they have been mixed to negative. some huge individual movers. we'll get to them. deutsche bank down 3%. astrazeneca down 15% bayer down 3%. overall you would say it's relatively encouraging, that it hasn't affected the wider market the dax weighed by bayer and deutsche bank. broadly the pi

facebook page, facebook.com/ tv. >> tv on c-span2, television for serious readers. >>. >> i'm john, i'm a book seller here and i have a story, thank you for being here and please welcome john cheney leopold's book we are data, it's for sale in the back and we continue to push here and john will be happy to sign. >> if we run out of copies there are some, we ran out of copies to contribute and there's this place called the place that he can sign and we can order a book for you. >> so find me if you get a book and you want to get a signature. >> i want to thank c-span for being here. >> and one, the useful thing to keep in mind is we offer simultaneously yourself. >> in light of doing that i'll say that a four calendar, the amount of literary books, we also have from tampa some flyers in the pack. >>. >> there is also a downstairs. >> next to a register. >> if you took out your phone, opened up your kit and directly into that, >> you might notice a yellow box appear and in my face and looks. >> we were worried about the batteries dying . >> okay. it's about how we use these technologies, ap

-- the word to 34%. trust in social sites like facebook and twitter is in the single digits for all political persuasions -- a reflection that the web is a free-for-all, where news is faked, and popular sites are subject to manipulation or censorship. today, we investigate efforts to control "the sum of all knowledge." as a donald trump supporter, andrew torba felt like odd man out in california's silicon valley home of prominent tech firms like apple, facebook, and google. last year, he was outraged when he attended this campaign rally in san jose and saw violent anti-trump protesters attacking trum did you post these feelings online? andrew torba: yes. sharyl: on what? andrew: on facebook, on twitter, i wrote a blog about it. and immediately, without getting into any of the issues or anything, i was automatically labeled a racist, a bigot, etc., etc. venture capitalists, people that i respected and had worked with on a very close level, just wrote me off completely and blacklisted me completely. sharyl: torba is now living in self-imposed exile in texas fighting what he sees as gr

google was slapped with a fine from the antitrust regulators. could facebook be next? officials are now looking into the world's biggest social network collecting information from its users. tesla's model 30 must ready to hit the road. will this car in the perfecting the auto industry? now to our lead. it was a global rally monday in equities. you do have to take into account low trading volume in the u.s. the trend is still clear with tech stocks failing to join this risk on mood. june sold the nasdaq and tech benchmark snap a seven-month winning streak. is this a short-term or long-term trend for tech. let's ask our guests today. wonderful to have you both with me. i want to start with james in new york. doubt at a record today. nasdaq is lower. volatility is low. i'm going to quickly show you a chart i have on the bloomberg, btv 859, volatility has continue to elevate itself within the stock market. james, what does this mean ?i wher? >> will we continue to see volatility? james: it is interesting that tech is up 16% this year versus the broader group of 8%. this is a situation w

lewis alexander, you are sticking with us. common, facebook earnings and we will talk about it with laura martin and james cap mac, -- much more after another solid quarter at facebook. this is bloomberg. ♪ that i am in which render i am emma chandra with your business flash. comcast is testing is cable business. second quarter revenue rose 60% thanks to hits like "the fate." starbucks is making its biggest acquisition ever and was spend 1.3 billion dollars to buy the remaining 50% share of east china outlets. starbucks will have complete ownership of 1300 stores. be and is in sight for libor, the benchmark that underpin is more than $3 trillion of product and will be phased out by the end of 2021. it will be replaced with a more reliable system. it became a word for corruption. that's your bloomberg business flash. alix: thank you. what would you label as more reliable? anyway. >> something that you actually use. nobody is the user there for some time. alix: twitter is getting hit in premarket. typically the move on earnings is about 11%. the number that's really disappointed at

>>> did accepting a friend request on facebook put you at risk for hacking? >>> a rapist caught because he was leading a double life. >>> why a lot of flights in dc were going nowhere tonight. >>> she was attacked with fireworks and baseball bats. tonight, she's telling her story. >>> and we're reconstructing the sc sene,earching for answers after a deadly shooting. wusa 9 at 11:00. >> delays for most of the evening and the cause, a hazmat incident at an air traffic control center in leesburg. transportation reporter, a pilot himself, is here tonight to break it all down. >> a small issue became a really big deal. washington center is in charge of all of flights at higher altitudes. that is the biggest impact on the airlines. let me give you an idea. this is flight radar 24. the yellow dots are flights. normally, it would be covered with them. instead, you see one, big, empty spot here. firefighters just like controllers back inside the building at leesburg, earlier there was construction on the roof. some of the fumes from the construction got into the air system. firefighters

, look at that move. is facebook killing the message. it wants to put ads on the world's most popular messaging app. cheryl: amazon on pace to break records for amazon prime sales and that day we are going to have the numbers for you. lauren: who were the highest paid country music stars, the list coming up. cheryl: 5:01 a.m. here in new york. wednesday july 12th, good morning, everybody. i'm "good day charlotte". lauren: thank you so much for joining us. i'm lauren simonetti. cheryl: as we know about the interview breaking this morning. it was a fox es -- exclusive. donald trump, jr. explaining in detail with russian lawyer last night and also released the e-mail chain. trump explained that rob gold stone set up the meeting suggesting at the time that the russian lawyer was willing to provide information about hillary clinton. >> this is prerussia fever, this is prerussia mania. this was 13 months ago before everybody was trying to build narrative about russia. i don't think my sirens went up. he built up. you know, in the end there was probably bait and switch what it was supposed t

purple line gets a green light. >>> is facebook going out of its way to target the catholic church? we'll verify. >>> and, rush hour road rage leads to gunfire in alexandria. the news at 11:00 starts now. >>> breaking news as we begin about one of our country's heros in a major political leader. john mccain, the republican senator from arizona, war veteran and candidate, mccain has been diagnosed with a brain tumor. the tumor related to a blood clot that surgeries removed from behind his eye on friday. the diagnosis is a tough one. a very aggressive type of brain tumor. >> he's in for a battle. this is a very serious kind of cancer. it's the kind of cancer that killed ted kennedy. despite all of the research, we haven't made adequate progress. >> we can tell you this, mccain's doctors say the senator is recovering from his blood clot surgery amazingly well, and his overall health is excellent. the senator and his family are reviewing further treatment options, including a combination of chemotherapy and radiation. >>> senator mccain has always been open about his medical history. i

new concerns. >>> lots of ways to win stuff on facebook, but is it really about the benjamins? we'll verify. >>> and if you can't take the heat, get out of the food truck. wusa9 at 11:00 starts now. he tonight, all dressed up in that patriotic spirit, the red, white, blue adorning the presidential residence. it was the rumble of thunder though that had a lot of you talking tonight, even canceling some of the area's fireworks shows like the one in annapolis. let's get right to it, howard bernstein, people warned it would happen, in some places. >> we talked about a 30% chance of cancellation, annapolis was one of them. up in damascus, water fell an inch of a quarter. and we're going to be dodging more storms over the last couple days. right now we're still dodging a few showers out there, the stalwart situation, the die hardz, we're doing -- hards, we're doing okay in town. starting to weaken up in montgomery county, looking a little more impressive and only just 20 minutes ago, weakening in toward upper montgomery, right on 270 near hyatt town, walkersburg, 126, we're seeing the heav

were flat quarter on quarter. facebook beat the streak last night. boosted by greater advertising revenue for the mobile app twitter's down 10% this morning in the premarket, jim. >> i'm not one to take the other side of the trade. stock was running for heaven knows what reason. because i think the daily average users were pretty good, and i think it might be an inflection point, the revenue's been going -- let's say, we'll call it the second derivative, they've been going down less and the pramting is looking up i see advertisers coming towards it the new programming is doing well they have burn off on the others if you reverse and got rid of the division that they're closing, you could see a flat revenue number, which would be the beginning. now, the stock we're in 15, it would be up too. >> i spoke to one large media tech investor this morning who said, twitter's nothing short of a disaster i'm not paying a multiple for better monetization without growing users. they need to grow users. they're not done >> monthly users were not good, daily users were better. i think you have t

weakness today for the nasdaq. facebook, amazon, netflix, and bet sharply lower. be digital ad space could saturated. all these companies have reported, both netflix and facebook with solid quarters. amazon and alphabet with somewhat mixed quarters. we have a chart on the bloomberg that suggests this could be the case. this is g #btv 8432. it shows inflows to the upside of the red line, and outflows to the downside or bottom. last week, that was the biggest selling pressure we have seen all the way since november of 2007. oft was ahead of the events 2008 and 2009. that is not mean we will see some sort of crash, but it tells us investors are taking money cht of the cap sector -- te sector. apple reports tomorrow after the bell. this is a one-week chart. it has been bearish for apple. we had that declined after the market selloff sparked by volatility concerns. a lot of intraday selling last week on that. i believe it was wednesday or thursday. now it is tapering off. investors are looking for apple to report 1.57. the big concern is that iphone 8 super cycle, some concern that it wil

what we're focusing on. caroline: that was cory johnson and martin. facebook could be the next target for antitrust watchdogs. germany is examining whether facebook is taking advantage of its popularity by pushing users into agreements they might not understand. we discussed what is next for european regulators. >> privacy is more important in europe to regulators. there are more rules and regulations in that region than in the u.s. this combines antitrust and privacy in the one charge here. they are saying if you want to get in the social network, facebook is probably your only choice in the western world. that dominance over data is forcing anyone who wants to do that to sign up for these terms and conditions. caroline: the debate commences. sometimes scale and size is good for the consumer, but it seems here the german antitrust facebook is feeling too pushy. this investigation was announced back in march. does it mean anything from a real perspective? >> what is happening over there, anything can go right now. the biggest fine ever levied on google. who's to say they won't crack d

a write-down in the music streaming service soundcloud. facebook churned out cashes in expected growth fueled by strengthen mobile video ads. they now have over 2 billion monthly active users and driving revenue at a faster pace than other tech giants. they are investing in original content. the first shows will come online in august. >> we are seeing a lot of content engagement shifting to mobile. our goal is to be a platform for content providers to find their audience and monetize. we are doing some early investing. we are giving more episodic doing on facebook. we have a lot of video views on facebook, but not that kind. we think that is important. we are making that investment. we have content providers creating that content and finding their audience. emily: alphabet was out with earnings this week. revenue came in at $26 billion, up 21% year over year. aggregate costs dropped 23%. it includes a fine from the european competition commission. she told me it is so early in our analysis that it's an ongoing legal matter. they have not decided if they will appeal. we discussed

is facebook hitting all time highs joining the half a trillion dollar club. the company blowing past estimates thanks to surging mobile ads on the news feed platforms. the company is now turning attention to monday he tiesing messenger and what's app. >> we're starting to put some ads in the product just to see the basic parameters on how that performs, how people like the ads or don't how they work for businesses and just try to get an understanding of that. so we're starting to run that across the world >> all this, of course, is the market is hitting record highs the nasdaq is on pace for its best month in about a year due in large part to the tech names. on facebook itself, let's start there. we've been talking about monetizing the acquisitions for years. it is finally happening? >> it's incredible that it really isn't happening at scale yet. they're just starting with instagram. they have the other huge platforms with what's app and messenger. we don't know how well they will monetize instagraem, highly visual, great video platform we and others are seeing huge usage in con

broke into her house thanks to a facebook group. stephanie ramirez talked to her tonight. >> it was just in creditly creepy and gross i guess? >> reporter: on facefile, rebecca says this is what she found on surveillance video. she was on vacation when someone reportedly broke into her home overnight between july 2 and july 3. when she got back she learned very personal items had been taken along with a work badge with her name, photo & company name on it. the suspect did also take the security camera, he spotted but not before the video downloaded to her cell phone. >> it's unsettling more than anything. >> she posted the video to a hagerstown facebook group. >> a case worker at a home for teenagers reached out to me and said they knew who the individual was. some someone else had commented to the facebook video describing a recent break in with their friend woke to a man >> when i went to file the restraining order, they had advised it was potentially the same individual that was standing over a woman's bed. >> she had a break in before but didn't have the same surveillance equipm

streaming service soundcloud. facebook turned out cash in unexpected growth fueled by strengthen mobile video ads. they now have over 2 billion monthly active users and driving revenue at a faster pace and other tech giants. facebook has also been heavily investing in original content. the first shows will come online in august. >> we see a lot of content viewing and engagement shifting to mobile. our goal is to be a plat warm -- platform for content providers to find their audience and monetize. right now, we are doing some early investing and kickstarting the ecosystem to promote more viewing on facebook. we do not have much of that kind, and we think it is important so we are making that investment. we have content providers creating that content and finding their audience. emily: my interview with facebook coo sheryl sandberg. alphabet was out with earnings this week. revenue for the search giant coming in $26 billion, up 21% year over year. but aggregate costs per click dropped 23% from a year ago. that includes the effect from the $2.7 billion fine from the european competition co

are still ahead. google, facebook, amazon, ibm. a number of our big companies are putting resources into it. the same is true in china with alibaba and tencent. they have the ways and people to advance it. i have sure they will be working closely with the chinese government. it is worrisome. we are still ahead. we cannot assume that will remain the case. emily: what does it mean for those chinese companies that david mentioned, the biggest chinese companies already working on ai? reporter: baidu, alibaba, and tencent a rapidly trying to catch up to google, facebook, and amazon. with the help of the government, this is probably just going to accelerate the closing of the gap. baidu has done significant work in voice-recognition technology, and driverless cars. they have a big research center in silicon valley as well as one in china with the cooperation of beijing. we are seeing tencent pour as well as alibaba. we are seeing them invest in driverless technology. this is going to be fuel to continue to push ahead and be the leader in this field. emily: selina wang, thank you so much f

competition coming from facebook who tried to acquire them a while back. no doubt they're under facebook. setting up for an interesting trading opportunity here, no question the company on the street, numbers down, they couldn't blow q2 if they blow the first two quarters, it's lights out. you look at the morgan stanley downgrade today, is it catalyst for shares to go lower it's a set up for buy into earnings when they report on august 15th. when is the lock up expiration in august? >> in my opinion, less of a threat here. the threat is the lock up comes off and you've got a disappointing q2 they need to make sure they beat street expectations. >> some say the card that will sin was blowing q1 >> yeah, that's a bad one. high profile one like that and come out of the gate because you could see it though in the s1, some of the metrics were headed the wrong way >> you're making it, not suggesting it, but it's not like they can engineer this there are companies out there that engineering and the next question does morgan stanley gain credibility by downgraded they've screwed up thei

, yet it has stiff competition with facebook when it comes to advertising revenue. who will win the contest? google has a better advantage. facebook has a bigger base, but google, in terms of overall platforms, it is stable. facebook, look at the strategy for google and facebook. facebook has a mobile strategy. facebook wins in a few regions. but google has a traditional base and a lot more happening in advertising, at least for now. staying with us earnings, toymaker hasbro has reported a 30% bump in profits due to strong sales of transformers action figures and monopoly games. however, its revenue miss the market expectations because of wea k miss the market expectations because of weak sales in the uk and brazil. rio tinto is being investigated for possible corruption by the uk's serious fraud office. they say the probe is related to business dealings in guinea in africa. rio tinto says it will fully co—operate with the investigation. this comes several months after australian authorities looked at patents with the 20 billion iron ore project in guinea. samsung is known for mak

market. facebook -- on vr with a new headset and price tag. how the next generation hardware stacks up against industry leaders. gop you -- gop senators unveil the new health care replacement. we get new perspective on the bill. first, to our lead. uber is handing over the keys to its business in russia. the u.s. based ride hailing giant is teaming up with what is known as the google of russia, yandex. it will take more than 1/3 of the stake in the venture, valued at $7 million. it is a second retreat from a major market for uber. last year they left china in exchange for a 17.5% stake from a rival. this, after losing more than $2 billion battling its competitor. we have caroline hyde from london, david kirkpatrick, ceo of techonomy. they have had many tech heavyweights at their annual conference. and our bloomberg tech reporter eric newcomer. , how did this deal go down? eric: it has been in the works for a while back when travis kalanick and emile michael were still working in operational roles of the company. uber has been negotiating this for a while. i think it was clear they were

times, facebook twitter, and some , google sites, including youtube. peter elstrom is normally based in tokyo, but joins us from new york today. what do we know? >> china has been playing this game of cat and mouse with virtual private networks for many years. where for a while, people used a certain vpn and it works to get access to facebook, twitter, and other websites that are normally blocked, but then the chinese government will crackdown, so what we are seeing a more comprehensive approach where the government is going to the three major telecom companies and asking them to block all vpn services accessing the outside world for individuals. so that is a pretty big step for them to try to tighten up on the censorship around their internet and try to block people from getting outside of china and then access to these websites that they want to be blocked. emily: i played that same cat and mouse game, having lived in china, you use a vpn for a while and it stops working so you use another. in practice, how is this actually going to be different from the status quo? >> conven

could have a rough few weeks 30 days prior, facebook, twitter and link ed in traded down by 2% on average, but the stocks dipping by average by 14% on average in the final week before the lock up expiration now, snap's comes as the company has been announcing a range of product updates, including the ability to buy a custom filter, plus snap map and the creation of custom stories to make it easier for people to share moments with a group of friends. now, the pressure is on for snap to deliver on its next earnings report after its user growth slowed and the company missed wall street estimates after its last earnings michelle >> we all need a custom -- >> well, that is true. i do like the chocolate. >> when i look at the numbers julia just reported on, when you see the passing of other big tech names into the lock up period, it sounds like once the lock up period comes, it's over. it's all priced in people have sold right into it expecting that >> what's most important is the next quarter >> they disappointed q1 out of the gate you dispint wall street twice, it's lights out for the

going to be very happy. good morning, everyone. you own facebook stock? look at. here comes another all-time high, try $176 a share. why not? profits are up 70%. and facebook has two billion active monthly users, one-third of the planet's population. by the end of the day, founder mark zuckerberg will likely be worth more than warren buffett. do you own amazon stock? here comes another all-time high. try $1,067 a share. founder jeff bezos about to to overtake bill gates and become the richest person the world. the latest financial report from amazon comes out today. oh, please, watch out. so here's the story. big tech, the fabulous five, call them what you will, are still on a tear. and they will push the overall market to levels we have never seen before. the dow is closing in on 22,000. here is the news from the swamp. not entirely depressing. the "wall street journal" reports increasing support for a so-called skinny obama care repeal bill. something would be better than nothing. and we expect an outline of the tax reform plan tomorrow. we have more reports of higher taxes on the

care spending for those troops. >> good to have those numbers broken down for us. >>> up next, facebook wants to make elections safe again. the money that it's spending to make sure that everything is fair. >>> and the richest person in the world isn't the richest person in the world this morning. i'll explain coming up in business and tech. ==sam//natvo== =nats of opening bell= =runs 4= =cont vo= ad lib numbers [ applause ] >>> look at the new york stock exchange from earlier this morning as we are tracking your market. the nasdaq and the s&p both down a little bit. the dow jones industrial average up 32 points at 21,743, and a big earnings week already under way. >>> amazon doing well this morning, enough to make amazon's ceo the richest man in the world. scott mcgrew. >> yeah, replacing bill gates who had been on the top of the pile for decades. good morning. so we took $900 million for bezos to take the lead. and when you're talking about super rich, $900 million in a day is something a person can just gain if they're shares in their company move far enough, which they did this morn

concerns this morning from the menlo park fire chief. he is worried about the builders of the facebook expansion project. kpix 5's jessica flores reports reports. >> reporter: good morning. that steel worker fell about 15 feet from the construction site behind me. it is said to be facebook's building 21. menlo park firefighters say the victim fell off the steel framing on the fourth floor and landed on the third floor. he had bruises but the extent of his injuries are unknown. he went to the trauma center at stanford center. his rigging saved him. his safety harness probably prevented significant injury or death. this is the second time injured steelworkers fell from this building. that's not only very unusual, but it is concerning. firefighters responded to the site back in april when two workers fell from about 40 feet. when the beam they were standing on dropped. but again, their safety arness stopped them from hitting the ground. we reached out to the contractor and we reached out to facebook. no response. cal/osha is investigating. jessica flores, kpix 5. >>> president trump's adm

. facebook could be the next target for antitrust watchdogs. germany is examining whether facebook is taking advantage of its popularity by pushing users into agreements they might not understand. we discuss what is next for , -- release.lators >> privacy is more important in europe to regulators. there are more rules and regulations in that region than in the u.s. this combines antitrust and privacy in the one charge here. want to saying if you get in the social network, facebook is probably your only choice in the western world. that dominance over data is signed up for these terms and conditions. caroline: the debate commences. sometimes scale and size is good to the consumer, but it seems here determined to give a feeling that it's making facebook too pushy. this investigation was announced i can march. does it mean anything from a real perspective? there, is happening over anything can go right now. who's to say they won't crack down on facebook. at the same time, you are hearing her encourage other companies to sue google. anything can happen. it's interesting to go after the pr

twitter at book tv or instagram at bookótv or posted to our facebook page, facebook.com/book tv. book tv on c-span2: television for serious readers. >> and commerce where solutions to hard problems lie. we are recording tonight's event both by c-span and for radio, so take a moment to silence your cell phones and we would like to thank jane. your question cards on your seats, so please make use of them and write your questions down and given we will be talking about social media and tonight's program we invite you to get involved in our online conversation using the #world affairs alive, if you'd like to engage in online discussion. i would now like to introduce our moderator this evening who is an adjunct professor at the school of information at uc berkeley where he teaches a course on digital activism. he's also the founder and editor in chief of china digital times. we are delighted to have him here this evening and if you could all join me in welcoming him who introduced tonight's speaker. [applause]. >> good evening. pleasure. i will try my best. zeynep tufekci, a contribu