good morning, it's 8:00 a.m. at facebook headquarters and 11:00 a.m. on wall street. and "squawk alley" is live ♪ i don't trust a word you say how you want to pick up after your mistakes ♪ ♪ look you in the face and it's just not the same ♪ ♪ i've been down so lonely they look up to me ♪ ♪ i got people showing fake lov

to me ♪ straight up to my face straight up to my face ♪ ♪ i've been down so lonely they look up to me ♪ >> good monday morning welcome to "squawk alley." i'm jon fortt. a lot to get to this morning starting off with facebook taking a big hit the social network under fire once again this time after a political consulting firm harvested data from tens of millions of users without their permission let's get to our own reporter in los angeles with that. julia? >> facebook shares are down more than 6% as o lay makers in the u.s. and uk call on mark zuckerberg to testify. many of them calling for regulations. this as the european union announces an investigation into privacy laws in question, is the facebook data from 50 million people harvested because they were friends with 270,000 people who downloaded a personality quiz app. the time facebook's privacy

policies gave app developers access to that data which the developer then illegally sold to data firm cambridge anylitca they told them they deleted that data in 2015 but the reports this weekend saying that data on the 50 million people is still out there. facebook is saying we're in the process of conducting a comprehensive internal and external review as we work to determine the accuracy of the claims that the facebook data in question still exists. cambridge analytica said they worked with facebook to make sure that they were satisfied that we did not knowingly breach the terms of service now they're looking for backlash from advertisers wells fargo saying the episode appears to create another potential and more serious public relations black eye for the company and could lead to additional regulatory scrutiny when they said better transparency goes a long way at the end of the okday. mr. zuckerberg's desire to leave

a legacy is not in line with the users. facebook's declines are in sharp contrast to how the stock shrugged off negative headlines around the role enabling russia manipulation of the election it will be interesting to see what happens from here and what we hear from mark zuckerberg. >> we're going to be talking about this for a while thank you, julia our next guest poses the question is this new facebook scandal finally going to force tech ceos to testify on information warfare? joining us here at post nine, elevation partners co-founder roger mcnamee. this is not our first time talking about facebook and the dangers of its data getting into the wrong hands. but what strikes me about this, you take a quarter million people taking a quiz, exposing the data of 50 million people. it's not theft because the people didn't own that data to begin with and facebook gave it away to

somebody it shouldn't have trusted. what are the fundamental issues, the new issues that this actually brings to the fore? >> the big problems here is the big data companies, facebook, google, have some responsibilities to protect the privacy of their users facebook signed a consent decree with the federal trade commission in 2011 that basically said if there was ever a situation where data would be used in a way that it a consumer had not actually explicitly authorized, facebook needed to notify them. so the problem they have here is that for essentially 50 million people, all but 270,000 who actually took the quiz, facebook owed an affirmative outreach and they did not do that in fact, they didn't say anything for more than two years. and so that creates some kind of legal liability. i think the fundamental issue is when you're dealing with big data, there is no transparency there is nobody auditing it. there is nobody that can check

and see what you're doing with it there's no ability for consumers to get any kind of follow-through if something goes wrong. i think we need to have a conversation right this moment use this example to figure out what are we going to do about this our data, you know, first we had equi equifax and now this >> does mark zuckerberg have to testify? he sent other people in the past to testify on issues like this is there anything he can say to get the heat off him now >> i think he has to testify because this is a humungous issue. remember, there were facebook employees working inside the trump campaign with this data who never said hey, wait a minute, where did you get 50 million user accounts? where does that stuff come from? the key point is there are a lot of failure that's took place in here i'm not sure what the law says i'm really not sure what the law says but what i know is the consent decree is there and they do have to do something about that >> what is the stock telling you right now? it's off by $11.50, decline of

6% s that pricing in regulation that reduces the amount that they can get in terms of advertising? what is it telling you >> michelle, what i think it tells me is consumers are losing trust in facebook platform and frankly, i think they lose trust in almost all the big data companies. i don't think we can anticipate regulation until there is some greater change in congress than we have right now. but i do think that usage went down in the fourth quarter i expect it to go down again in the march quarter. >> because of this or because it's mature >> because of these issues in general. i think for the last, you know, what is it, jon? we've been talking about there since august or so and, you know, since then, it's -- there's been an increasing understanding that when you're using facebook, a the love b lot of bad things are going to happen to you as a user. that is not 100% guaranteed but the risk is really high. i think people are finally beginning to recognize that this is not the fun and games innocent place that they thought it was >> but that's what washington is trying to combat

admitted lit regulation on the table is fairly narrow it's just about disclosure of political ads. even that doesn't really have the support to go much further but there is this risk and this bubbling talk that maybe these social media companies are too big to fail. they're worried about creating balloons to bring internet to mongolia but the core product is an iron clad how long until it is >> it's a great question i don't know i think the thing that is going to happen, because i think europe is going to take a very strong stance here, and realistically if europe sits there, they're going to implement something called a general data protection regulation in may. and that is going to force these companies to operate differently in europe than they do in the rest of the world. i think if they're smart, what they'll do is they'll adopt the practices globally i think in the long run protecting users is the best thing for the business it's a shareholder that's what bothers me. >> can you quantify, can we quantify the risk for facebook and others

if they no longer are owners of this data, if some regulator says you know what individuals in a large swath of your user population, they actually own the data. and if you want to trade it, you have to allow the user to actually okay that and if you lose it, it's been stolen from the user not from you. >> that is the european model. so i think for the long run -- >> when it comes to global model, how much of a risk is that >> i perceive that as a positive, not a negative trust is the thing that makes these things successful. >> but for investors holding the stock, how much of a risk is that >> i am an investor. i want them to have the trust of the users. i'm saying here i think the management team is irresponsible. >> i think jon's point is there is a financial cost. wouldn't there ultimately wall street looks at the bottom line. >> i think there is going to be a staggering financial cost for persisting with this heartless approach to user data. i actually think the risk is greater from persisting down the path they're on now and as a

shareholder, i believe that they should follow the johnson & johnson strategy from tylenol, recognize a problem has happened here and they may not have caused it but they are responsible. and they should sit here and do everything for the user. if they do, in the long run the company will be a lot more valuable than if they fight this >> roger mcnamee >> when we come back, more on the business impact of facebook's latest legal headache an analyst will join us with his take next. plus, the 26-year-old game wloer gamer who is pulling in half a nillon dollars a month using twitch we'll talk to the streaming sensation in just a few. as we head to break, a check on the major average this is hour which are currently near the lows the nasdaq down more than 1.5% the nasdaq seeing the biggest resqh.n more than a mont mo "uawk alley" is coming up feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow.

with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley.

qualcomm announcing the form chairman and chief executive paul jacobs will not instant to re-election to the board, effectively removing him he pursued the idea of a potential pieout of the chipmaker. the board changes come after the government blocked their bid for qualcomm of course, this legal tangle with apple continues apple saying they don't want to pay this license fee which is effectively a percentage on every phone that qualcomm should be due a lot less. qualcomm saying, hey, we created this environment we largely created this

environment of smart phone prosperity and so we deserve a cut. paul jacobs, getting aggressive in a way that apparently not in line with the majority of the board. >> stock doesn't act like they think he could be successful, right? i mean, not doing a whole lot if you thought there was takeout premium that would come as a result some of kind of lbo maybe we would see it higher no >> i mean it seems like it would be a long shot i keep drawing the parallels to what michael dell did with dell whether that company was under pressure from carl icahn i'm not sure he can do it again today. michael dell could given how well dell seems to have done since. argue that's the market was not accurately valuing dell at the time and maybe he got a bargain. but i guess paul jacobs might be saying hey, if we're going to get buyout pressure, why shouldn't it come from the founder's family >> or that dell hit the right point in the cycle and qualcomm is not there at this point also i mean, $87 billion is the market cap i imagine enterprise value is much higher. where you would even get the money for that

that's a lot of money. >> it would be very difficult. >> where was broadcom going to get the money? >> right you're right yeah tough. >> broadcom found it all right, let's get back to the big tech story facebook under fire again. shares are sliding take a look. they're under 6% decline of $11.50 the company facing investor backlash over how it protects user data. this comes after a political data firm was able to harvest private information from more than 50 million facebook profiles which they got via a third party. for more on the investor impact, let's get to rbc's lead tech analyst. stocks getting hit very hard this morning investors are worried. are you? >> largely no. this is one of the three biggest selloffs we've seen, daily selloffs we've seen on facebook shares the valuation at a facebook multiple, it is cheaper than the market so we now have it at 17 times earnings if you strip out the cash 15 to 16 times earnings. and we don't think fund.

ales have changed. in order to know that with certainty, you have to ask where the money is coming from if you talk with advertisers, we have another survey in market. we've seen 66% of facebook advertisers plan to spend with facebook in the next six months. i don't think this will effect that sentiment. >> maybe that's buyers or products or users of the product would do maybe the shares are telling you that there could be regulation that limits their ability to charge, to use data in ways that previously have been very profitable for them. could that be what the zok stocs saying >> absolutely. there is a lot of regulatory fear in the stock right now. not that there is any knee jerk reaction but there could be regulation comes out in the future. largely that is priced in here if you can buy a 30% compounder earnings grower for less than the market with something that's, you know, pretty close to a dominant position in the space, that tells me that there is a heck of a lot of fear and that's creating the buying opportunity. this our number one pick here.

>> so, mark, what is the worst case realistic regulation scenario for facebook right now? what impact would you expect that to have on their earnings >> i'm stumped are they going to be forced to spin off instagram i find that really hard to believe. spinoff what's app i doubt that neither are behind the concerns today. i'm not sure what it would be. it would be a greater reporting of data, user data to some sort of regulatory body that doesn't affect user growth and to me it doesn't affect engagement or advertiser interest in what is one of the two best advertising platforms out there. the better one actual sly is google and there is much less pressure they get people's data but they nut wh are looking for. >> if you're an investor, one of the key questions you need answered is how long will it take for any clarity to come out? i'm thinking back to october when adam shift, the top democrat on the house intelligence committee said to

reporters, facebook and the companies need to focus less on profits and more on scrubbing the platforms and making sure that this sort of stuff doesn't happen again, especially as we get into mid terms that is six months ago how much longer is congress debating this before investors get any clarity about what it's going to look like >> that's a hard thing to know i think roger informed to information warfare. i think there is political warfare going on in the culprit here probably isn't facebook the culprit here is probably the russian government i think that points been lost in all of this. and then in terms of what facebook needs to do, i'll tell what you they're going to do is what they announced the same week they're going to increase the operating expenses by 45% to 60% and double the cap-ex. one of the three drivers being increased security this is unchartered territories. i think facebook got blindsided. they were not quick enough to acknowledge it that their data was hacked and they're data is misused. they need to be more up front about that there is no question these are very difficult i.t. challenges for facebook >> should internet investors be

looking at mid terms to factor into how they value these investments is what a change of control in the house, for example, make these stocks more valuable or less >> wow i have covered internet stocks for 20 years i never thought about that maybe it's the sign of the times. these platforms have become so big, amazon, facebook, google that now they have to see which way the political winds are shifting there is no question that some of the companies had very good friends in washington during the last administration. i think google in particular i think probably the case with facebook too so, yeah, this may be a catalyst i doubt it changes fundamentals. >> is zuckerberg safe? >> as the ceo and founder? >> absoluyeah >> absolutely. >> it is hard to see how somebody that controls that much stock -- unless he votes himself out, yes, he's safe. >> all right thank you, mark. >> at&t's proposed merger with time warner hangs in the balance. they head to trial this week

open court begins today. the decision could have a massive impact on the future of media. joining us now from d.c. is fcc commissioner former fcc commissioner and current partner robert mcdowell. also with us is paul dennis, anti-trust partner atdecker. he was with the doj's antitrust division formerly. you have advised on several consumer mergers, paul, in the past this is ultimately a consumer deal and the fate of this deal is whether you believe that prices will be increased for the consumer if it is allowed to go through. what do you think? >> well, it looks like the government has very limited evidence of price effects. we're getting bits and pieces of the case through the brief but, you know, looks like they're predicting a price effective less than .5%. i've never seen that in a challenged deal before >> that's the government's number >> that's the government's number the defendants have much lower

number >> so it sounds to me like it's going to be a pretty tough thing to stop this deal if the government itself admits that price increase isn't all that much or if unlike what kayla says, maybe they're trying to do something very different here and change precedent when it comes to anti-trust. hard to see what the proof is on that yet. will reveal whether they have real evidence about that real change in behavior by at&t and time warner that could have that adverse effect. we haven't seen it yet >> robert, i know investors are focusing on the fact that this is the same judge that weighed in on the comcast/nbc deal and hope this is a situation that will get settled even with restrictions

what is the possibility of that, do you think >> the fcc during the comcast/nbc deal so i studied that extensively back then they have been trying really hard to see if conventional wisdom is wrong here and whether the government has a good path to victory >> no comment on that. >> amazing weekend for all of us so i still don't see how the government wins here i've tried really, really hard to look at things from the government's perspective the heart of the case is does at&t have an incentive to withhold content from others that would destroy so much value of this deal every content producer i've ever talked to, you make more money if more people watch your stuff. cnbc is more valuable the more people watch it, not if you withhold it. if indeed there is consumer harm, which i don't think there

is i think prices could go down it's a defensive deal. not offensive deal if it's 45 cents per sub, is that really the new consumer welfare harm that the government is trying to try out there's a reason why the government has not succeeded in shooting down a vertical deal at trial in almost half a century and that's because it's very hard to prove the facts. right now based on the witnesses and the discovery pretrial we've seen, i don't see a path to victory for the government >> you said the doj has a lot riding on the bargaining model explain what story the doj will have to tell along those lines if it hopes to win >> it's a difficult story to tell what they're trying to say is the merged firm is going to have a different incentive when they bargain with other distributors over the price of that time warner content because they own not only that

content but they have the directv distribution, that they're going to bargain differently. that's a very hard story to tell because you need to tell a changed story if you're the government about how the market will change dramatically as a result of this merger. a change in bargaining strategy is hard to get your arms around. >> the argument the companies want to make is this is a deal that's been influenced politically despite the fact that the judge barred some of those communications from being included as evidence, robert i'm wondering what you think the specter of political influence will do to this trial and where it will manifest itself. >> i think when the judge denied the introduction of that evidence into the record, it actually was a good sign i think it shows that he's a law and order judge fairly conventional he's going to look at the facts that relate to whether or not this is in consumers' interests or not and whether they're anti-competitive effects of this deal the political why. why would the government bring

this case to trial really has nothing to do with the political aspect of it he's going to look at the facts, at the evidence and the state of the law and probably rule on it. i actually thought it was a really good sign for law and order and continuing this trial in the normal course >> the trial officially begins wednesday. we will see how it plays out robert, paul, appreciate both of your insights today. >> thank you >> pleasure to be on >> still to come, the professional gamer who mastered amaz amazon's twitch platform is making millions honing his skills his stardom seeping into march madness. listen to the team from university of maryland baltimore county after their win >> we got anyonnnia to tweet abt us i mean, it's really just we played a solid game.

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stocks are in sell off mode. investors are awaiting this week's fed decision and looking at the possibility of a rate hike and lots of concerns about facebook we're joined by charles and also ben. gentlemen, good to have you here a couple things being pointed out today for the sell-off facebook a big one fears of some kind of regulatory attack by congress and then also concerns about the president actually tweeting about robert mueller for the first time naming him over the weekend suggesting that at least the critics of the president maybe they're closer to some kind of obstruction of justice charge historically, people should have bought these sell-offs what should they do today, ben >> i think it's still okay to buy these selloffs today is indicative of a market narrative you may call reflation

3.0. you had growth in 2016 which was the first phase. you had 2017 phase 2 where it pushed out at elevated levels and here we are in phase 3 where you are positive on fundamentals in this environment but there's much more two-way risk so the acceleration is behind us in the rearview mirror. inflation you have the right tail of the distribution which may be coming back policy noializatiy normalizatio trade. so if you're a multiasset investor in this environment, you're leaning into risk based on the fundamentals and probably doing so in less size than you would in phase 1 or phase 2. >> charles, are you leaning into risk at this point >> you have to be very careful and differentiate between what you're buying. it's fine to talk about buying the dip in the market for the last couple years because the s&p has been so strong i think we've got a real paradigm shift going on right now. the s&p has been led by tech stocks that's shifting. just like it shifted 2000, 2001,

2002 when the s&p was down 32% and value stocks were actually up i think we have an overpriced s&p 500. overpriced indexes i think you need to be very stock specific in what you're buying here. >> you're not calling for 32% decline, are you >> no. i think overall the s&p could underperform by a lot. people have gotten -- don't take this wrong people have gotten lazy in talking about the market there are lots of times in which the big indexes can underperform by a lot and i think some of the stocks like twitter -- >> how much? >> you could have 1,000-point underperformance on the s&p. the name to watch is amazon. amazon has been more destructive through its monopoly policies. there's a lot of word out that trump has asked people about whether amazon is a monopoly with competitive pricing that puts people out of business, local mom and pop retailers and

increases prices afterwards. so the risk is the administration goes after amazon >> if amazon creates 50,000 jobs, maybe amazon gets left alone. i'm curious whether you think we'll see a hawkish jay powell this week. >> i think you get four rate hikes this week. may not be as aggressive signaling at this wednesday's meeting given that i don't think they want to come across as too hawkish. the most notable thing about the fed this year is really the narrowness of the plausible outcomes you don't see a lot of appetite for going more than four times a year or fewer than three times a year so i think that idea that you get three or four rate hikes this year is pretty much nailed on and so when they say you're going to get three or four on wednesday, you should listen >> ben, you think that fears of a trade war are overblown. you go further than that

you say you don't think trade wars exist anymore really >> i think starting from the perspective of an economist, i start from the premise that trade wars actually don't exist or at least don't exist in the same manner as most people's mental model in the 1930s broad tariff war things have changed. you have a globalization that increased the cost of entering into a trade war you have supply chains which are longer and deeper. that increase the costs as well. you have the ever present threat of retaliatory action. that hasn't gone away. i think the trade war as defined in today's world is really about more high frequency but ultimately narrower disputes and that's what we're seeing today >> so, charles, you sounded nervous. you say now is the time to be a stock picker which stocks are you picking >> well, the things that aren't in the indexes we love the stocks that have been left behind as all this

money has flowed into the big indexes. our favorites are kkr that is my favorite stock it's a wonderful business trading at nine times earnings because it can't be owned by the indexes. don't buy the things that benefited from the money flowing in the indexes >> gentlemen, good to have you, charles and ben. it's time for a news update. sue herrera has it back at hq. >> indeed i do thank you very much. good morning again, everyone here's what's happening at this hour investigators see similarities between the latest bombs detonating in austin and three bombs from earlier this month. the latest device was triggered by a trip wire and was more sophisticated than the package bombs in the three prior attacks. the north korean foreign minister arriving in beijing

after three days of talks with his swedish counterpart. syrian kurdish militia releasing video showing a guided missile targeting a vehicle in syr syria. turkey will expand its military operations in other kurdish held areas in syria at home more than 20 vehicles involved in a crash outside of washington. drivers couldn't get out of the way of that debris some of the drivers were injured and then taken to hospitals. what a mess. all right. you're up to date. back downtown to "squawk alley." >> he goes by ninja and is taking the internet by storm he's going to join us next stay with us

are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.

and i am a senior public safety my namspecialist for pg&e. my job is to help educate our first responders on how to deal with natural gas and electric emergencies. everyday when we go to work we want everyone to work safely and come home safely. i live right here in auburn, i absolutely love this community. once i moved here i didn't want to live anywhere else. i love that people in this community are willing to come together to make a difference for other people's lives. together, we're building a better california. our next guest is breaking records on amazon's gaming platform over 628,000viewers watched him play the new video game fortnight against rapper drake. joining us now is tyler known online and by his fans as ninja.

great to have you with us. >> great to be here. thank you very much. >> explain this phenomenon you've been a professional gamer for i think eight plus years you've played them all is this kind of like the second coming of halo what makes this game so hot right now? >> i think it's a combination of a lot of things. the fact that it's free to play is super huge and it's across all of the platforms, xbox, playstation, they just released mobile version on ios which is difficult to get done. not to mention i think that there's rumors about maybe even getting it on the nintendo switch just the accessibility and how friendly the game is, they're just hitting every single mark perfectly. >> now, explain the business part of this now there are reports that you're making more than half a million dollars a month. i believe much of that coming from twitch an

subscribers. you get 50% of that revenue when people are watching. how important is twitch becoming in this gaming ecosystem >> right a lot of income is definitely coming from amazon and twitch prime subscribers. we hit 5 million subscribers on twitter. the collective revenues is where it's coming from this deal that amazon prime and twitch prime have together is incredible twitch prime allows people to claim loot and collect loot with specific games and they recently did a deal with fortnite and that's one of the main reasons of influx of subviscribers currently to my stream >> i play the non-techie person. congratulations on getting people to pay to watch you play.

why do they want to watch you play >> i offer a combination of high tier game play they can't get with a lot of other creators it's difficult to be one of the best at a video game, at any game or anything at all in the world. i also think i offer -- i mean, i'm very goofy if you watch my streams or youtube videos, i do impressions and crazy shenanigans and combination of that it's like a hybrid and it's fun to watch and pretty positive environment as well >> tyler, you started competing in video games on halo in 2009 so nearly ten years ago at which point i'm sure it was tough to convince your parents that there was really a business. >> absolutely. >> what was your argument? i'm sure every 16, 17 year old out there who loves playing video games wants to hear that >> that is an incredible question i'm really happy that you asked that i maintained my job that i was

working at noodles & company and i stayed in college while i was doing all of these things. i continued to do well in school and focus on the future of my life as well as working on streaming and competing in halo. it was one of those things where if i was doing well in school, putting in the time and effort there and soccer as well, that i would be rewarded to play as many games as i want and honestly, i encourage everyone to do that. all of the kids out there. you can't just drop everything and focus on playing video games for a living it's also becoming a very competitive career choice right now. and you want to make sure that you're securing your future and putting in the extra time to try to make this happen as well. >> good for you for saying that. what are you doing with the money? are you investing it how do you manage it >> definitely investing and saving it as much as possible. i don't plan on doing anything crazy with it. right now me and my wife are sponsoring an animal every month where we take care of them or pay off their vet bills and reaching out to other little

charitable organizations as well the other month we raised over $114,000 for suicide prevention and awareness and we're just going to continue to do good things like that as much as possible >> tyler, first i got to ask what was your major? >> literally didn't have one i was just doing my gen eds for two years. >> i want to ask you a bit of a policy question. after the tragic parkland shootings, the white house seemed to kind of try to tie that into video game violence. i'm not sure that there was a broader move to do that. what is your reaction to this idea of a relationship between real world violence and video game violence? >> i think that video games are more of a place where people can kind of do whatever they want and not really have any violence whatsoever outside of it i don't think anybody gets an idea from a video game they can get it from other violent things

people aren't created to be viole violent. i really don't think any of that has to do with video games, no that's just my take on it. >> tyler, did apple just get completely outmaneuvered with amazon's purchase of twitch? they bought it for a billion dollars and now we're talking about amazon not just in the realm of selling packaged software, but being a real player in the future of gaming is apple in effect getting edged out? much of their app store revenue is from games. >> i mean, i think that amazon made an incredible play with the twitch purchase. i think it was for a billion dollars last year. twitch is just obviously on the up and up right now. you see people like drake, travis scott, all of these people are starting to feel like it's okay to play video games now and let people know about it i mean, i think that everything is happening perfectly and amazon definitely made the right play >> have you invested in any video game companies do you have shares in video game companies? >> no. i actually do not have any investment currently in any

video game companies i don't really have the time honestly right now this explosive growth happened over the last two to three months, and streaming is a full-time job. you have to be there eight hours a day, 12 hours a day, sometimes even more and when i'm not doing that and planning and creating all of this stuff, i'm spending time with my wife. i don't really have that much time to investigate or do research on a lot of the stock market it's something i want to do in the future but for now i'm focusing on gaming and just continuing to create all of this awesome stuff. >> when is it most important to game is it a nighttime thing? people get home from work and want to watch you or these are kids after school? what's peak viewing for you? >> it's everywhere this is a global phenomenon. everybody plays video games and everyone can enjoy fortnite right now. i do two a day streams i stream from 9:00 to 3:00 and at night from 6:00 until whenever you have the time zones.

everyone throughout the world has certain times where i have kids home from school technically all day because some people are in school in europe and not in america it's the same thing with work. i have people who send messages and are, like, you make my night shift go by quicker or during my breaks i can watch you whenever anyone has the ability to watch, and i always make sure they're doing it when they should be watching, that they're watching if they do enjoy it it's everywhere. >> it sounds like a really taxing schedule, tyler unlike other careers it wouldn't seem there's a she seem there's a shelf life to this how do you plan to keep this up? >> i've been this dedicated my whole life i have no intention of stopping soon some people get content when they hit specific goals. i can't really think of the worl

word i intend to do this as long as i can. >> what's the economic value of drake showing up on that stream with you and who would you like to game with next? >> i think once you kind of hit drake who has 40 million -- i mean, really, i just kind of hit the top of the bar right there i think there are incredible people everywhere that i would love to play games with. i think i reached out to logic he responded to me as well we might be planning something but the shelf life and stuff, i don't see this going away any time soon. i should also mention, like, what drake did, i mean the amount of viewers are growing. it was totally natural that's what i want to stress very much so he followed me on instagram and reached out saying he wanted to play this wasn't a stunt or anything like that. >> you didn't pay him? >> absolutely not. no one did it was completely just platonic,

is that the word i don't think so it was just natural. >> wholistic natural. got it do you sit for six hours straight or do you get up and stretch? >> no. actually, very rarely do i sit down for as long as i did and not get up i was focused on making sure i was playing my best and make the experience a good one. >> tyler, today amazon announced effectively a new platform game on which is going to allow nonprofessionals to compete in games and perhaps earn prizes like amazon chos is this competition and streaming a platform for that in the future of gaming, do you think? >> i think it's something people can get into i think there's always been an issue with gaming not only with streaming but also competing for the amateur scene. it's been very expensive for new gamers to come in and try to start doing this and compete immediately gets people who are

very well off and very well practiced and at that point they're wasting money traveling to these tournaments and not being sponsored and paying things on their own and amazon creating game on could be a very good introduction into competitive gaming and so i think that's just great. >> tyler, aka ninja, fortnite champion, thank you for joining us >> thank you, guys >> cool hair to boot as we head to break, a check on the markets. we're approaching a sell-off of nearly 300 points for the dow jones industrial average m nasdaq off by more than 2% geinee the sell-off ttg worse. we'll be right back. that'll crack this case wide open! turns out the prints at the crime scene- awwwww...did mcgruffy wuffy get a tippy wippy? i'm serious! we gotta move fast before- who's a good boy? is him a good boy?

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coming up, facebook shares suffering their worst day in four years we'll discuss what this means for the stock going forward and for investors. plus, joining us today, marc lasry. he is with with us for the hour exclusively. he's also identifying new opportunities. we'll get his thoughts on the power and potential of bitcoin wael hear about his experience with the president as well we'll see you then >> sounds good thank you. as we head to break, we are also keeping an eye on shares of facebook those shares are leading tech

lower. the level where they are now, hasn't been there since late october. concerns about facebook's maname tre e w is down more than 1% more "squawk alley" after this

welcome back rick santelli here on floor of the cme. a lot of things going on what is today? day 17 should we close in the 280s for

ten-year note yields it's long stretch. those are baseded on closes. another issue, tomorrow will be the first day with two-day fed meeting in all likelihood wednesday, a quarter point higher rate. now you look at the soft stock patch we're going through. it seems to have affected rates. but not in the normal sort of way. usually you get lower rates. we fought back intraday 280s, still come back more sbood mid 280s and upper 280s what does the impact look like a ceiling. it keeps the interest rates from moving a lot higher and it seems when stocks get their sea legs back, that's when we vitter more of the top of the range. 295 is a high yield close for the year now, the fed effect is always about the same as the jobs number effect. it keeps rates a bit more firm especially when you get within 24 hours, so what we want to see is how rates look should stocks

remain soft on thursday and friday finally, there's a lot of logic about two-year rates at the highest closing levels since 2008 many traders seem to be get more nervous about that but no matter how you slice it, there's equal in the universe. >> let's get a check on the dow. .2 far, down 1%. more "squawk alley" straight ahead. you know what they say about the early bird...

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let's get a check of the market dow, s&p and nasdaq near session lows dow u down about 327 points. all off one and a half to 2%, but take a look at facebook it is down nearly 8% keeps bouncing off that 170 buck per share low. that was the level in late october or so. traders here on the floor are watching that. >> wrae, the 200 day moving average it appears for the first time it can close before that average for the first time since

january. it's moved since late october when its general counsel testified in washington, the last time these concerns were in the headline >> washington, d.c. and policy now a player in many of these faang stocks thanks for being with us like old time. toss it to the half and scott wapner and welcome to the halftime report top trade this hour, facebook under fire shares of the social network suffering their biggest drop now in more than five years on allegations it misused the private information of millions of users with us today, joe, josh, steve, jon and marc is with us today. the avenue capital cofounder begin with shares of facebook. down nearly 8% thi