dangote and always fun to share time with jack bogle. we hope you join us at 7:00 p.m. we'll count you down and lead you through the top five at 7:00 p.m. tonight. meanwhile, that would do it for this edition of "power lunch." >> you've done a fantastic job, ty, you and your team. "street signs" begins right now. \s. welcome to "street signs." breaking news. what you are seeing is a live shot of the news conference that is going to start any moment now. the nba is going to be doing a news conference on donald sterling, the owner of the los angeles clippers with regard to his allegedly racist remarks, our very own reporter sarah eisen is also there on spot and will be able to give us analysis and reaction after the news conference.

brian is at the milken conference, he says that is the talk of the town. you know it's interesting, there are people out there who say that the nba should perhaps force donald sterling to sell the team, but i would imagine the first and straightest option is going to be just to give him a fine, probably the least effective option, but "forbes" says this guy is worth 1.9 billion. so that would be a minor slap on the wrist. >> it just depends on what the nba is allowed to do. i spoke with a lawyer who is here at the milken conference. you're right, this is all the talk. there's a lot of questions about what the nba legally is allowed to do, right? stripping the team from sterling from everything we've talked to with the lawyers and sources, they've said that's probably not legally possible, but the nba may have a trick up its sleeve. we don't know. the other interesting angle, there are published reports that magic skraunsen and guggenheim

partners would team up, as they did with the dodgers to buy the los angeles clipper. i pressed scott miner, he effectively dodged the question, i understand that. today at the top of the show, we have the chairman of guggenheim exclusively, alan schwartz, former kreismt off of bear stearns, but you better believe that's the first question weaver going to ask, whether or not the if the team is available -- don't forget, he bought the team to $13 million. >> and it's now allegedly worth, what about $575 million? we are getting some breaking news, brian, so let me jump in here. nbc news is saying the donald sterling of the l.a. clippers has suspended indefinitely by the nba. he's also been fined $5 million. again, for a man who is worth nearly $2 billion, $5 million seems like a minor slap on the wrist. let's get straight to dominic chu. you've been following the

closely as well. it feels like it's maybe just a bit too minor for what's going on. >> interesting here is the idea of a proportional response. a $5 million is no small fine if you look at the grand scheme of how the nba -- ask mark cuban. when he gets fined it's tens of thousands, hundreds of thousands, it may seem insignificant with the audience we have, but in the world of sports, a $5 million fine is substantial. whether it's substantial enough to appease the critics of donald sterling, that remains to be seem. >> dom, dom, $5 million is not going to apeat anybody. it's not going -- that's a slap on the wrist. >> but what about indefinite suspension. >> if there's no responsiblors. >> what about an indefinition suspension. he's -- >> what does that mean? he barely goes to the games now.

>> he can't be involved in the day-to-day operations, but he's still allowed to hold this asset. i wonder where that -- gradually he may be forced to sell the clippers. >> listen, guys, who is going to play for the clippers shall? okay? they've lost all their sponsors. there is one thing we've talk about with people in the know, a hot of levy hitters, we'll get to sarah in just a second, because we've talked to people here. if the league is damaged, not the clippers, if the league is damaged, there may be opportunity to force the sale -- let me finish my point, police, because we have talked to people deformly involved in the process. if the league is damaged, then the league may have the ability to put in a force majeur and make him sell the team. that's what we've heard from people talking to the league. >> let's get straight to sarah eisen, who is there live at the

conference. what are you hearing about the reaction to the suspension being indefinite and the fine of $5 million. >> reporter: i can tell you it's a media circus down here. news outlets of all kinds waiting to hear from adam silver, the nba commissioner who's been in the job less than three months. suspension and a fine as nbc news is reporting is certainly the word. that was one of the most likely outcomes here. the big test will be what the players, what the fans think of it. tonight there's a game, a home game for the clippers. of course, the pressure has been absolutely piling up. we just learned that adidas, the latest sponsor to suspend its sponsorship of the clippers, joining a number of very well-known brands, mercedes, r carmax. so we'll hear what the xhitioner has to say. we're told it will be a short statements and he'll take q&a. you can bet they'll hammer him

on if it was the toughest or most severe punishment that the nba could have. keep in mind this is unprecedented that the nba would suspend one of the owners of the team. certainly there have been fines before, but this is a whole different ball game. as you said, it all comes down to the bylaws and constitution, which aren't made public and mistier yaw. it's going on upstairs behind me at the hilton. i'll bring you some of the answers when we hear from the commissioner. as you can hear, a lot of outrage and a lot of parties involved. it will be interesting to see the reaction. >> interesting you use that word "outrage" that was a word that came up in a piece by kareem abdul-jabbar who used to work for donald sterling, and dom, what he was saying is that what bothers him about the whole donald sterling up there, if indeed these are his remarks, is the fact that everyone acts like

it's a huge surprise, because kareem says he has a track record of discrimination. >> it's interesting, too, you're referring to the "time" op-said piece that he wrote, and he says -- it's interesting. the outrage is obviously a big concern in this, but again it's about changing the culture of sports. there are these -- and at least thoughts, i guess that this exists as part of the game. nobody is saying that nobody is not outraged by what's happening here, but again, what this will come down to is whether or not the overall game is going to be impacted and what kind of option there is, remember a forced sail of a team is viewed by many as a nuclear option. as sponsors pull their money, the value also goes down as well. >> a lot of sponsors, of course are pulling out. remember yesterday we heard that car max pulled out. virgin america, state farm among

others, so as dom has been saying, gradually, and i'm sure there will be corporate boxes as well that might be pulled, ticket holders, gradually the value of this team goes down. >> i just want to add one thing here, that is a suspension in effect is really distancing mr. sterling from the team. he won't be allow to do go to games, won't be allow to do come inside the locker room. you wonder if that means there was some agreement -- of course we don't know this -- between mr. sterling and the nba ahead of time that if he is suspended, he will walk away by himself. it's certainly embarrassing to be an owner suspended from the nba. >> brian? >> guys, we've got to back it up here. the point that dom made that hit at the top of the show is what you have to focus on. the ideas that the league is damaged. the league legally has more rights and abilities than it just if donald sterling damages

the value of his own team. that's what you have to focus on. driving down the value of the clippers, which, by the way, have gone up many fold since he bought the san diego clippers for $12.7 million 20 some years ago. we've heard they're worth a billion minimum. he'll make a huge profit if they force the sale. i've spoken to some people here who find that offensive. if the league is able to strip him of the team that he would do so at a great profit. what we have to focus on the is damage to the league, then the league has more legal power, according to about eight attorneys that are involved in sports law that i've talked to here in the last 24 hours or so. that's what we need to focus on. >> dom? >> brian, that is a good point. if the nba can show that's been irreparable damage down to the overall league and every single franchise, obviously there are certain things that can into effect. it's not public knowledge of what the nba can or cannot do. they don't publicize their

constitutional or what the agreement between owners and franchises is. what it comes down to is this is uncharted territory for the nba. whatever option is seen as taken next is going to define what the overall historical view of this situation was, and one a $5 million fine and inch definite suspension, yes, may be seen as just a first step, but a step they have to take perhaps towards other bigger steps down the line. >> sarah? >> reporter: i just mentioned there wasn't a precedent for this. you can go back, for instance to the '90s and marge schott, i grew up in cincinnati and remember this very well, was suspended for racial rants similar to these, and eventually forced out. this could be just the beginning of the problems and the ramifications for donald sterling. >> just to remind everybody -- >> the baseball constitution and the nba constitution are very have i different. they're written in a different way. >> reporter: totally different. >> baseball has an easier

ability to stlip owners. a and sarah to your point called donald sterling the marge schott of basketball. mark cuban, he came out yesterday and i think angered some people maybe. he said it's a slippery slope if the nba is able to strip the team from sterling, and his point was if the nba uses this, as we're taking the team from you, sue us, fine, donald sterling, by the way, no shrinking violet in a courtroom. cuban says that could be a concern. where does the power stop? kind of a different view, a little controversial, but that's what cuban does. >> just to remind everybody, we eight waiting the news conference from the nba. so far what we're hearing from nbc news, they are confirming he has suspended indefinitely, and fined $5 million. sarah, convince again you are there awaiting the conference. what more can you tell about

what we can expect? >> we can expect to hear from adam silvers, the nba commissioner, grouped by the former nba commissioner, commissioner stern. he took the job on february 1st. boy, is this going to be his first test. i mentioned some of the pressure piling up from the sponsors, from the team itself, from the owners, from celebrities, from the president, president obama even weighing in on this about how harsh his punishment is, is it the toughest that the nba could go given the legal rammicses here? the legal questions offy they can actually kick a team owner out of the league, or if they have to just stop at suspension. that's what the question and answer session will be upstairs. waiting for him any minute. we're told it will be quick and then he'll take questions. >> what's also interesting about this, in handing down this kind of enforcement action, the nba

has an investigation, we don't know the details of the investigation, so reporters at this particular press conference will be very curious to find out what exactly the nba came up with or what their investigation led to. remember, we still use the word allegedly, because we don't know exactly the context or what happened with it particular tape recording. that's why everyone wants to know what's happening. with a $5 million fine and indefinition suspension, it implies that nba found something that makes him guilty. >> reporter: we should learn that, by the way, in this press conference, because mr. silver did say before that they're going to conduct this investigation, it's going to quick, done in a couple days, because he wants to put it behind them. they're in the middle of the playoffs. this is a huge distraction for the league. >> brian? >> trying to find some of the guests here, alan schwartz, they have been linked to potential buying the clippers.

so forgive me if i'm looking around here. i'm trying to find him. at the minimum, he may know what the options are. if the reports are true they have sniffed around the clippers, i guarantee you the legal team will say here are the rights of the league. in a way, the clippers were obviously terrible for years. they've come on, and don't forget there's probably 100 people who work for the clippers that are not millionaire basketball players or coaches that depend on this team thriving and surviving to pay the rent at home. the legalities are important in all of this. we're waiting for -- in the meantime, let's are holding in positive territory. america is one of the biggest -- after the earnings report.

wlet's take it live. >> thank you all for being here. shortly after the release of an audio recording this past saturday morning of a conversation that allegedly included clippers owner donald sterling, the nba commenced an investigation which among other things included an interview of mr. sterling. that investigation is now complete. the central findings of the investigation are that the man whose voice is heard on the recording and on a second recording from the same conversation that was released on sunday, is mr. sterling and that the hateful opinions voiced by that man are those of mr. sterling. the views expressed by mr. sterling are deeply offensive

and harmful. that they came from an nba owner only heightens tand my personal outrage. sentiments of this kind of contrary to the principles of inclusion and respect that form the foundation of our diverse, multicultural and multiethnic league. i am personally distraught that the views expressed by mr. sterling came from within, an institution that has historically taken such a leadership role in race relations, and cause current and former players, coaches, fans and partners of the nba to question their very association with the league. to them and pioneers of the game

like earl lloyd, chuck cooper, sweetwater clifton, the great bill russell, and particularly magic johnson, i apologize. accordingly, effective immediately i am banning mr. sterling for life from any association with the clippers organization or the nba. mr. sterling may not attend any nba games or practices. he may not be present at any clippers facility, and had may not participate in any business or player personnel decisions involving the team. he will also be barred from attending nba board of governors meetings or participating in any

other league activity. i am also fining mr. sterling $2.5 million, the maximum amount allowed under the nba constitution. these funds will be donated to organizations dedicated to antidiscrimination and toll rants efforts that will be jointly selected by the nba and its players association. as for mr. sterling's ownership interest in the clippers, i will urge the board of governors to exercise its authority to force a sale of the team and will do everything in my power to ensure that that happens. this has been a painful moment for all members of the nba family. i appreciate the support and understanding of our players

during this process, and i am particularly grateful for the leadership shown by coach doc rivers, union president chris paul, and mayor kevin johnson of sacramento, who has been acting as the players representative in this matter. we stand together in condemning mr. sterling's views. they simply have no place in the nba. thank you, and i'll take any questions. >> start with scott in the back right. >> reporter: adam scott, bloomberg. do you or any of your emissaries have any clue to what mr. sterling will acquiesce to your wishes to sell the team? you have been watching live pictures of the nba conference with nba commissioner adam

silver there, making the announcement which differed from our original reports i was hearing. donald sterling of the l.a. clippers will be banned for life. he cannot have anything to do with the nba, that again is a ban for life from the nba, and also he's getting a $2.5 million fine. that is apparently the maximum amount that is allowed under the nba constitution, but as adam silver was saying, he's also going to urge the governors for the forced sale of the team. brian, this is interesting. the ban for life is a bit different from what we originally heard that was perhaps just an indefinite ban, and we were hearing a $5 million -- but its 2.5. apparently that's the maximum amount allowed. >> focusing, mandy on what the commissioner did not say. he did not come out at the top and say we are going to force the sale of the clippers. he did everything he could to

make it exceptionally uncomfortable if not impossibility for donald sterling to continue to own the team and they said they will work with the league to try to force the sale. so listen to the language of what was not said. it is clear to me that the league right now does not believe it has the authority to force the sale. if it did, i'm sure silver would have said we are stripping donald sterling of the clippers effect i have been immediately. instead they're effectively saying we're going to make it impossible for him to operate the team, exceptionally uncomfortable and try down the road to force the sale, but it's clear from that, at least to me, that the league right now does not think it has the ability to strip him of the team. >> this is how sanctions work, right? you put an embargo, you put everything around donald sterling, you make it impossible for him to even operate within the confines, and then in essence what you have done is tied him down. he can't do anything more with

this team. he can do anything around it. so that's why it will be a big deal. >> we have to wrap it up there, but once again, thank you very much. sarah thank you for your commentary and dom, for jumping in as well. we're going to go to a quick break here, but any minute we'll speak with google's executive chair. stick around for that. today...and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen.

once once again, donald sterling

has banned for life. we have more on this throughout the hour. earlier today we revealed the list of the cnbc 25. coming in at number four, three people. great to have you request us, sir. >> i would never put myself on the list. it's a tremendous honor for you to put the three of us on the list. thank you so much. by the way, congratulations on 25 years. you guys keep us on our toes. you've pushed very hard, keep us accountable, it's a nice, nice role you've played both in up markets and down markets. the feedback from cnbc is among the best. >> thank you very much. but i'm curious why you wouldn't have put yourself on the list. google has changed the way that we consume content.

google is kind of like the gatekeeper, if you like, it. >> i think we see ourselves more as getting trying to get information interest the hands of everybody, but ultimately the purpose is to pak the end users happier. if we can solve your problem with information, we want to do it. we're compete you are scientists wo understand scale and networks, and it's worked well. it's a great story, but thank you. >> can i ask you to responses comments like google is evil. the informal motting sell don't -- how do you respond to things like that? >> fort natalie or unfortunately those are -- we actually don't track people. we're careful to reflect people's privacy. we score chaektly what we do. you as a user can control that.

and the other thing is google is free. we have the benefit of being free, we really provide a lot of value, and franly i can't imagine life without google. i can't remember i got through the day without google. i'm certainly one of those, but what do you think going forward, sir is your biggest vulnerable or threat in light of the fact that some people, as i said think google is too powerful. they're nipping at your heels. >> well, every large company in the tech industry faces these questions of how you will work with governments and regulators. we have chosen to work with them to make sure we're following the laws with real concerns over things like privacy. the real issues all have to do with transition to the next model, and that model is the transition to mobile. our mobile ads are doing much, much better. android is the number one operating system in the world. we're very well positioned, but

the entire industry is organized around this mobile transition, and he who gets there first is going to be both economic winner, but also really the influence winner. >> what do you think personally is your biggest failure? what did you learn from it to make you more successful? >> well, there's a long list in my case of failures. i was late in identifying the social issues. we did very well in other things, like gmail, chrome, these things have billions of users now, extraordinary how well they have done. android, of course, search ads and so forth. in social i think we were a bit late. the google plus stuff has done well. we now have the best photos, the best hangouts, best sharing of anybody, and we're continuing to innovate there. >> when you look at the list of 25 that we've come out with, there's a common denominator for these successful people? >> every one of them that i know, and i know most of them,

are people of enormous intelligence and drive, and by the way we need more entrepreneurs in our country to solve our many problems. entrepreneurs are the center of the american ethos. every one of these people broke out early, they knew what they wanted and they didn't take no for an answer the they had this unusual sense of self-confidence and vision and we are willing to do whatever it took to achieve their objective. they were very impressive. i notice that the ranked mea good friend steve jobs number one. he is an extraordinary human being and a tremendous loss. >> do you think he deserved to be number one? or was there someone else perhaps you would have put at the top spot? illustrates i would have always put steve as number one. when you think about what he did with apple, with a near-death experience, he came back -- for the company, came back and retargeted a large into a completely new area and

literally invented the mobile and tablet world. only a truly brilliant founder could have pulled that off. >> eric schmidt, thank you. congratulations. >> and congratulations to you all for 25 years. you've done a fantastic job. i look forward for the next 25 tichblgts thank you. we look forward to speak with you again. eric schmidt. brian sullivan is at the milken conference, which in itself is a very big deal. lots of movers and shakers, thought leaders, and i believe you have someone there with you who probably fits in that description. >> what a day. great interview. what a great interview, the nba stuff, now we have alan schwartz, ghoulsen hype's partner. it just flows, and that's what we try to do. al en, thank you very much. a lot to discuss in a short time. i asked your c.i.o. about it

yesterday, have you had any discussions with the nba about purchasing the los angeles clippers? >> well, we wouldn't discuss that. all i can say is i hope they get a better owner than the one they have. >> would you be interested if the team were to become available? >> we guggenheim partners don't own it, we lead a group of investor. would you group be interested in i can't speculate. >> just because i notice you are connected with power players, about the league's ability to force a sale? i took it from silver's comments that there wasn't a clear-cut ability to do it. he's going to urge the board of governors to execute their authority, to try to s any insight into that? >> well, i can't say what i heard, but knowing the process, i think that what they will try to do is put so much pressure on him in as many ways possible to get him to want to sell the team. forcing him to sell, even though it's probably appropriate,

owners would say, wait a minute, do we want to give you that right? >> mark cuban said this yesterday, there might be a chance the league wants to force him to owner it, but some of the owners may be concerned about their own protection and their own teams? >> right. just precedent. bad facts make bad law. that's why you don't want to create powers that you don't believe should exist, but hopefully within the powers they have, they can get the outcome they want. >> if you happen to not be the buyers of the clippers, would you let us know if or please, let's move on. ghoulsen ham has surged, top ten investment bank, you're an adviser on pfizer for astrazeneca. any comment? >> we're not allowed to comment. >> but you understand i had to ask, right? dealmaking in general, a lot of people talking about a peak ipo, mergers have been heating up. where do you see the overall

market? >> for activity? >> yeah, deals, specifically new companies coming to market. >> i think two things. point number one, i believe there's been a lot of m & a dialogue in the board rooms. i think it's taken longer to get over the finish line and lots of deals don't get done. i think the backlog is coming to the forefront and will last a while. there's a lot of companies in the new economy, things like that. less a lot of lbos that may want to go public. that will be a function of whether the market is receptive. >> somebody from apolla made waves this morning suggesting that certain things that may indicate a new credit bubble. >> mark is incredibly insightful on credit. i didn't hear what he said, but i would not say we're in a bubble yesterday. i would say we've moved from undervaluation on spreads, wider than normal to tighter spreads,

economic conditions are still friendly. if it keeps going for a while, you can't get into bubble territory, but i don't think scott or myself think we're there now. >> are we smarter than five years ago? >> let's hope. >> alan schwartz, wide-ranging interview, thank you for rolling with it. it's a fluid day. >> thanks for having me. obviously more on the breaking news this hour, the nba banning l.a. clippers owner donald sterling for life. we'll talk about that. a great lineup of guests here from los angeles, and back in new york, mandy, should be a big day. a lot more to do. >> yeah. [ man #1 ] we're now in the approach phase, everything looking good. ♪ velocity 1,200 feet per second. [ man #2 ] you're looking great to us, eagle. ♪ 2,000 feet. ♪

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if if you are just engining us, you missed a lot, but don't worry. here's the recap about 2:10 eastern time adam silver announced a lifetime ban on l.a. clippers owner donald sterling. silver says the nba has confirmed that racist comments made on tape were voiced by sterling. the nba also fined sterling $2.50 million, which i do believe is the maximum allowed under the nba constitution. we shouldn't lose sight of the markets, either. the dow is up by nearly 100

points we're going to have much more on these developing stories and lots more coming back with brian as well from the milken conference in just a second. plus what to look for when ebay reports after the bell. you've got all of that? i hope so. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com

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welcome welcome back to "street signs." earlier we brought you live the nba news conference where we learned what was happening with donald sterling with regards to his lifetime ban from the nba and 2.5 million fine. let's get straight to sarah eisen, who is there outside the conference. what came out of the q&a session? because that was obviously a very interesting time when a lot of pointed questions are asked and we learned a lot from the answers as well. >> reporter: many of the questions centered around this idea there would be forced pressure for mr. sterling to sell the team, the clippers. if you're just joining us, just to recap, it has been a moment here for the nba, where the commissioner has done something that has never been done in history. he has banned for life one of the nba team owners, donald sterling of the clippers, from the nba, from the clippers, from personnel decisions, from attending games, from being at any board member meetings of the

nba. he stopped short at saying he was going to force him to sell the team, but did say he would urge the board of governors to play their part in helping force donnell sterling to sell the team. one question, i want to read it to you. it gets into some of the legal questions about what the nba has a right to do. what authority do the owners have to force a sale? mr. silver said the orchs have the authority subject to three quarters vote of the partners to remove him as an owner. obviously mr. silver is everything he can to put pressure on and distance mr. sterling from the clippers and from the nba, really taking this on not just representative of the nba, but personally as welt. there was a personal note how offended it was. he called it a painful moment for the league, mandy illustrates thank you very much, sarah. let's move to "talking numbers." both sides we've gone ebay

reporting earnings after the bell. the online auction giants has dean big moves, what should we expect this afternoon? richard ross, global technical strategist on the coming john stevenson. john, what do you expect from ebay's earnings? are you a buyer of this stock? >> i'm a buyer, mandy. i think they'll do 67 cents. it's a great defensive stock with marketplaces, but fast growth through the online payment system. europe is turning around, china is turning around. this is very positive. i like it. i'm a buyer. >> are the charts backing that up, rich? >> i'm going to go the other way. ebay is a sell for me. yes, it's held up fairly well in the short term, but when we look at a long-term stock, we see a stock that's uniquely vulnerable. the stock has been mired, bounded by 50 on the low end, 609 my send.

in isolation consolidation is not a bad thing, but when it occurs at the end of a five-year run, and you're into ten years of resistance, that tells me momentum has stalled, and the risk is to the down side. look at your 1 4u7bz-week moving average. a break below that level, that's going to generate a confirmed sell signal and set the stage. i would be a seller here and sell it to any strength on a good print after the close. >> that's what makes a market. gentlemen, thank you very much for joining us on ebay. be sure to check out the -- up next, we're going back out to milken in los angeles after the break. stocks on the move. tdd#: 1-888-648-6021 in here, streetsmart edge has

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welcome back, everybody. eric schmidt and the google guys coming up number four on the cnbc first 25. in fact we just spoke to eric schmidt himself. who else made the cut? tyler has been telling us their stories all morning. >> we started at number 15 this morning. we're now up to number eight. what started as a project in his

dorm room transformed him into a hoodie-wearing billionaire and transformed how we interact online. here's number eight on cnbc's first 25. ♪ >> when we first launched we were hoping for, you know, maybe 400, 500 people. now we're at 100,000. who knows where we're going next? >> try more than a billion users, from around 80 uncans communicated in about 70 different languages. >> nothing ever has been done like that to connect so many people in so many ways. >> at the beginning, no one, maybe not even mark zuckerberg could have imagined the revelation facebook would usher in. here the 19-year-old is in 2004, introducing to a national audience the web side he and three harvard buddies started

earlier that year. >> what is the facebook exactly? >> it's an online directory that connects people through universities and colleges. >> at that point he was a guy that created something in his dorm room. before age 30, he not only created a company worth billions and bills on, but he has a billion customers around the globe. >> you know, to have that kind of penetration into society is astonishs. when you this i of the iconic brands of america industry, coke and ford, these things took years and years to build. zuckerberg did it in like 18 months. >> targes, adults, even presidents use the site to post pictures and videos, share articles and life events, like something or friend someone. >> it's letting us keep in touch with people, letting us connect with ideas, with content, with stories, and sparking discussions in ways that didn't happen before. >> and oh, by the way, aggregating an audience that may

be the biggest ever assembled under one banner, an audience advertisers will pay to reach with pitches tailor presighly to you. no wonner zuckerberg became the world's younger billionaire with a net worst reported nor of be 20-something in the history of the world we've just recently learned. >> it wasn't a totally straight line to wealth and fame. fame as in having your story memorialized in an oscar-winning work of fact and fiction. there were the bitter lawsuits with one-time harvard classmates the winkel voss twins who accused him of stealing their ideas. the suit was settled, and it was a time, if you can remember, that facebook was a distant second banana to myspace. >> then they came out with the facebook platform and this new level of energy from developers came into facebook, and it became so clear that they were absolutely not only going to crush myspace but accelerate far

beyond what people thought a social network could be. that's when it became really clear that facebook was going to be big. >> the number one thing we've heard is that there just needs to be simpler ways to control your information. >> but a year later more trouble as users started to complain about privacy issues. >> and what they have done is so seductively convinced us to share so much more than what we've ever shared before about our lives and emotions and families. >> to get a lot of pushback on privacy, but really be hard pressed to come up with another service that's enabled privacy at the same level, where you can be very specific about who you want to see photos or videos of your kids. >> that's in part because facebook and zuckerberg truly sweat the small stuff. so perhaps it was a bit surprising that things didn't go exactly as planned on may 18, 2012, the day the company went public. >> the facebook ipo was such a

disaster. it's kind of like the bride tripping on the way down the aisle, you know. >> it was an abomination. >> delays, trading glitches, orders that didn't go through and orders that for some buyers regrettably did. within a couple of months facebook stock had lost almost half it value, but zuckerberg stayed focused. >> he saw that while everybody else was talking about, you know, if a the fact that the stock was doing this or doing that, there was a revolution happening in smartphones and mobile and they better shift a lot of resources into that. >> he got that company from zero mobile, zero, to 50% mobile, and that's because zuckerberg recognized facebook is your identity, and your identity is online and it's in your cell phone. >> now facebook, the stock and the company, has arguably never been healthier. the same could be said for zuckerberg. >> he's going out and tutoring kids. he's looking at organizations.

it will be really fascinating to see what that turns into. >> he's still under age 30, and the man just gave $1 billion to charity left year. >> an entrepreneur who left a deep mark on the past quarter century and it it all in a little over ten years. >> and in a way it's a little scary he's just begun his business life and think about what he could do in the next 25 years. it's a little frightening. >> it will be very interesting to see what mark zuckerberg and some of the other youthful tech tight abes do over the next quarter century. one of cnbc's first 25 rebels, icons and leaders. tonight at 7:00 a special reveal of our top five and a couple of bonus entries as well. mandy? >> 7:00 p.m., we'll be watching. >> thank you very much, tyler. we're getting our final thoughts

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the performance review. that corporate trial by fire when every slacker gets his due. and yet, there's someone around the office who hasn't had a performance review in a while. someone whose poor performance is slowing down the entire organization. i'm looking at you phone company dsl. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business. welcome back to street signs. let get back out to my co-host in los angeles for milken, and we had a lot of breaking news

this hour, didn't we, brian? >> i want to direct everybody also to cnbc.com because we've done a ton of interviews here, some amazing people, names you know and names you don't but you should. they are up on the web. we've been working, working, working which is great. coming up in 90 minutes very excited, matt damon live on cnbc talking about his water initiative so we'll have matt damon coming up on "closing bell." maybe ask him a bit about the movie business, too, you never know. >> say hi for me. don't know me but just say hi for me anyway. >> i'll ask him about -- i'll ask him about that scooter incident in manhattan. >> yeah, yeah, that's going to remain between us. okay. we'll see you tomorrow back here at hq at the mothership. everybody, thanks for joining us on "street signs." "closing bell" starts after the break. honestly, i'm pouring everything i have into this place.

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