aol will probably own some of the partnerships. aol employees and audience and investors put a lot of energy into patch which i think was very good for the country. i have had more newspaper people stop me saying, the patch is in our city. they were afraid that you are going to get more aggressive. i'm not talking about some of the bigger companies that did that. i think patch helped fuel local communities. they should be investing in it. >> caroline, when we talk to -- i don't know if you read his interview, he had commissioned a study and what he found is that the toughest problems economically are on the local side. many of your members are on the local side. can you talk about that now? you have heard him talk about patch from a newspaper's perspective. is it as bad as julius' study? >> the numbers suggest that the top 200 metro areas have the toughest time. when you go smaller than that, it is actually stronger. that top 200 is a big number. it is very difficult to cover what companies covered in the past, given the pressures

they didn't need these proprietary clients for aol and compuserve provided. i wonder why face that could twitter are the compuserve in this story. it's a difficult computer science challenge to build a distributed social system that works in a timely manner. we know this because he used to exist. anyone using the internet will remember that an essentially was a social media discussions this. but it was rather slow and quickly became rather unwieldy. so this clearly has a lot of technical challenges that can be overcome for this to happen. aspects like.net and aspera have been a whole bunch to create an open social media and social networking. they were swept away. the same could happen to facebook and twitter in the next decade. >> host: whatever form social media takes the future, one thing is clear, it is not going away. social media is not new. just cannot first entries. monmouth at new pamphlets, michael dobbs and the new coffee houses. media sharing sites are the new commonplace books. there are shared, social platforms that enable ideas to travel from o

guest: we were aol defense until the spring. aol spun us off and sold us to a different company called raking -- breaking media of new york. it only does trade publications. aol has a huge content media empire. we are now renamed and rebranded as breaking defense. it is all the same contributors. it is a website that is all about defense, obviously. it is very focused on the not -- beltway around washington dc and a little beyond. people in congress, people in the think tanks and lobbying groups. people in the defense industry. people in the policy levels of the military. who deal with legislative affairs. host: one of the headlines, the national defense authorization act, what does it mean? guest: 451 years, the congress is managed to pass the defense authorization bill. it was a three-step budget. it hasn't happened until three years until now. the authorization bill and then the appropriators who actually signed the checks. most committees completely failed to pass an authorization bill year after year. basically, authorized

this is what happened with aol and compuserve. it looks like they owned access to the consumer internet, but people bought straight vanilla access, dial access and broad n broadband. they didn't need the software that aol and compuserve provided. it is a challenge to build a system that works in a time playma playma playmate -- time playmaly matte there is a lot of technical challen challenges that need to be overcome. but i am keeping an eye on efforts that are trying to create an open standard for social media. and maybe like aol and co compuserve were swayed away, the same could happen >> whatever form social media takes, it is not going away. social media is not new. it has been around for centuries. l logs are the new pamphlets and there are social platforms that let people's idea ripple through another. that said, mr. standage, social media as you ask, what is your answer to it being a trivialized d disadvantage? >> this happened with the printing press and literacy with writing the alphabet before that writing systems were

the listing came with an aol address, i was curious, excited, desperate.te a long e-mail and poured out my heart, pretty much, explaining how interested i was in politics, how badly i wanted to write about it for a career. how much this opportunity would mean to me. the ad was vague, i didn't know who was on the other end of the e-mail. the response came later, the new hampshire job was filled. but they had another site, in new jersey. there was an opening there. they asked if i was interested. i was a massachusetts kid and knew nothing about jersey, but i was interested. the site, it was called politics nj.com was an anonymously owned website. it was a pseudonym, the site was about two years old back then and had really taken off in political circles, the guy who ran it had great sources and unmatched institutional knowledge. now he wanted to go main stream and wanted a real reporter, someone with a real name to put on the site to do real reporting, to be accountable in real life. i had my interview there, i was staying with my aunt and uncle. my little c

i get 1,000 free aol minutes? i can finay finish down lowing that picture of teri hatcher! force. >> folks, that is why i was so excited to learn about an amazing new product from double robotics. >> when you need to be in the office but can't be there, how about having a robot stand in your place? that's the idea with double, double is the ipad camera as your remote eye, double is what businesses who want to have a physical presence in the office. >> it's like you're actually right here! >> that's right. a mobile robot that gives telecommuters a life like presence at the office, as long as that office does not include stairs. >> now, sure, before the double came along you could skype with your coworkers, but that robs you of the most fun part of the workday the valuable time you spend walking from room to room. >> even office affairs are easier with a double, now you can stay at home while still getting it on with your assistant vanessa in the broom closet or skyping janet from accounts and making a three-way. but don't forget to use surge protection. the only problem i se

this includes google, linkedin, also aol, apple, facebook, microsoft, twitter, yahoo! very big names there. the fact that these companies have come together illustrates how concerned they are about the nsa surveillance issue. when you consider that many of these are competitors if not arch rivals. in an open let tear the president published in major newspapers and also on a new website, this group is suggesting five ways the spy agency can be reined in. the group would like the nsa to stop bulk collection of data, like there to be more oversight and account built. when the nsa requests legal data they would like to be able to publicize it. this is all in response to revelations this past summer by the edward snowden leaks that the n 60s a collected data from the companies reportedly without the companies knowing or giving permission. they are trying to reassure customers that data is safe and they are sensitive to what is stine as a government intrusion into privacy. >> thanks very much. >> new this morning, all lanes in 880 in oakland are open after a big rig crashed

this week, aol announced that its revenue dropped 90% in the last year. that's 90. average age of people that use aol. [ laughter ] how do i e-mail a telegraph to the hindenburg? [ laughter ] the people -- people have just lost their minds. i saw this guy on "nightline." i watch the show "nightline." this guy's just out of his mind. he loves swimming with sharks. he's like, "they just wanted to be loved." [ light laughter ] he pets them and stuff. just look at this guy. >> what the shark doesn't realize is it likes affection. >> do you think sharks like affection? >> no. i know sharks like affection. [ laughter ] >> jimmy: kind of creepy. i'm calling it now, one day that dude is gonna be in a really hard-to-watch youtube video. [ laughter ] he was just trying to hug ginger and i don't know what happened. [ applause ] it's okay. come here ginger. do you want to take this fish out of my mouth? [ laughter ] speaking of fish, a different fish. there's a big phish concert in new jersey recently and apparently the police showed up and arrested 42 people for dru

those are aol, apple, facebook, google, linkedin, microsoft, twitter and yahoo! action all companies either head quart erd here in the bay area or major ties to our region. in a new web side, reform government surveillance.com, the companies established five principles they would like the government to adopt in attempt to rein the spy agency. the group would like the nsa to stop bulk collection of web data, see it have more oversight and accountability, and when the nsa legally requests user data, these companies would like to be able to let people know what the nsa is asking of them. the fact the companies have come together illustrates how important a problem they believe this is because a lot of these companies, most of them, are competitors if not arch rivals. >> thanks, bob. >> continue our coverage with business and tech reporter scott mcgrew. this government spying is giving tech a black eye. >> it has. we have the ad here, they are putting the government on notice they are going to start encrypting data so the government can't look inside. your data is su

"huffington post" on aol and continue to be. there's a news chooser you use to comu. the news you want. the other thing i would say i think the "huffington post" started probably with more of a political angle overall. i think one thing that happened a lot, if you look through the "huffington post" overtime there's been a lot of forums set up for people with different political views to share on the "huffington post." the "huffington post" if you go to "huffington post" live or toughing ton poe there's a pretty wide range of view. one of the things we thought important from a brand standpoint. you have different brands with different type of users. we feel like it's one of the best news sources in the world for us to offer aol users. we offer them a lot of choices as well. i think actually from a standpoint of opportunity, this is different than a lot of us competitive. it's going to feed-base everything is feed. and there's no choice at all. one of the thing we have done is actually said we're going to have a voice and some opi

the big four, viacom, aol, and time warner. aol is not a big one, but one of the big four buybacks. they seem addicted to shrinking available shares. i'm sure they'll be in there monday taking advantage of any rate-related decline to do some buying.. here's the bottom line. while the fog enshrouds all stocks tomorrow, pick up an apple or paychex or one of these companies i mentioned. when the fog clears, that is where the action will be. you need to get before, not after the crowd. chuck in new jersey. chuck? >> caller: hi, jim. this is chuck the tennis pro from belmar. i want to thank you for taking my call, tell you what a wonderful job you do. i watch you every day, and i was researching tiffany's. i actually started to research it in july when it was $71 a share. i went into a jewelry store to check out the inventory. a salesgirl produced documents saying the gold jewelry was bought at about $1,800 an ounce and the market had it at about $1,400 an ounce. and it just made me be scared because i didn't know what i was looking at. considering the job report is tomorrow and that can

and aol sent an open letter to congress, calling for reforms and restrictions on how the government collects data on internet users. they also want government agencies to be more transparent on what they're looking for. >>> well, some of the tech companies have seen their share prices soar this year, but not every company has been so foreig fortunate. we take a look at some of the stocks. >> reporter: dogs to darlings, when one of the biggest losers one year turn into rising stars the next. it is a trend that the portfolio managers watch closely. >> it is almost a wall street tradition but not one lightly taken, and especially in a year where you have seen significant out-performance by many stocks. >> it happened last year when bank of america more than doubled. one of the top gainers in the s&p 500. a year after it lost 58% signs of recovery in the housing market and better than expected earnings were good for bank stocks in 2012. on the other hand, best buy, hp, pitney bowes, among the worst performers in 2012. but best buy and pitney poli bo were among the top ones, taradater are among t

in the shade of an aircraft's aol. only you and bass. in the infinite new and the great recounts being for the alliance can think is on a murderous rampage who are long gone gone. a lot pardon but one one two one. like cool fight and do we have begun to enough to make up for five min to him on the gun show. what was next to that i thought um i'm going to die last night. this was the white tall. was waiting for me and looking the goods were being short and i have to stay. i'm grateful i am so close with obama who just allegations of health's coast guineas. to safari does with multiple gunshot wounds. kind of a two hundred and fifteen and was headed into the police station. when all but twelve were led to the mexicans. on a two under seventy five people and i knew it meant that the pun. the night. so what marvels of shorts it was horrible because she's surprised that i have to cover yourself with the bodies of dead people or one of them. during the chanting and softball this marina. is this. some are just going to talk about it it's the se

senior executives including some ceos from companies such as aol, facebook, google , linkedin, microsoft, twitter and yahoo signed the letter. a new sympathy button is said to be in the works at facebook. for now facebook users have two choices on the website: a thumbs up if they like a post or thumbs down if they don't. the bbc reports-- developers are creating a button that would reflect- " hey" i sympathize" with what you are posting. the report says a facebook created the new button as an internal project-- and there are currently no plans for its launch. it's a new year and a new chief executive for hologic. former head of stryker corp., james macmillan, is in the top spot. it's the third ceo in less than a year for the medical device maker. jack cumming took over for robert cascella in july. the company also named two new independent board members, both managing directors of icahn capital. it's a not-so-happy anniversary for victims of bernie madoff. this month marks five years since madoff was sent to prison for 150 years for bilking billions of dollars from trusting investors in

that was the conference when the aol-time warner deal was announced.ll have you back on for the deal. looking forward to ultra hdtv. larry haverty at gamco. amazon's holiday season by the number. they sold enough rainbow looms to circle the globe. have you ever used one? ♪ >> despite christmas delivery woes, amazon has had a record-setting holiday season. they added more than one million week members and the third of december. a record order of more than 36 million items on cyber monday. julie hyman joins us. you think they are giving away money. giving away free shipping. if you pay your $79 to become a prime member. amazon sent a limited prime memberships -- >> how? >> sorry, our system is overloaded. who knows? it is not clear. they give you a lot of numbers and their release on how the holiday shopping season went. except how the holiday shopping season went. they tell you the numbers from a ago, of go, -- a month cyber monday. they do tell you a couple little tidbits. they tell you more than half of their customers shot using a mobile device. >> k

broadband, they used an aol account. >> they could only post a few, then. >> it slowed them down. but that actually is humorous when you say it out loud. >> humorous to read as well. >> they were called at 2:00, 3:00 in the morning by their goss, the number two p.r. person and now is the top p.r. person there saying why have you embarrassed me and the person who was woke up says, what have i done? and said you didn't rebut this comment, and this person says this comment is 68 on a blog that nobody reads. what's your problem? and she said you can't let any of it go unrebutted. much worse is what they did at times to reports who dared to do temperatures they didn't want done in 2008 you have this incredible primary season with hillary clinton and president barack obama, two heavy weights, and cable ratings for cnn rise and that's a story because fox had been giving everyone a drubbing since 2001. so ken does a story, and arena just essentially said you don't want to do this you. have no idea what they can do. and he says what do you mean? she says, just don't do this. so the writes

the coalition of twitter, facebook, apple, microsoft, linkedin, aol and yahoo! and google demanding legal reforms to control american spying on americans as well as putting the government on notice that those companies will encrypt their data to keep it out of government hands. the other big story this morning is the markets. you're looking at the open of the nasdaq as american airlines celebrates its merger with u.s. air. it is absolutely official, making the largest airline in america. the market's doing very well. in fact, right off the opening bell, the nasdaq hit a 13-year high. back to you. >> all those earnings, perhaps you could buy a new house. >>> how much would you pay for a large victorian home? a few steps away from san jose state university. >> i would say about $400,000, but there's a little problem. it has some fire damage. take a look. there it is. there's 2100 square feet, four bedrooms on 7th street on the mark for $399,000. it was badly damaged in a fire back in june of 2012. there have already been several offers, including someone putting u

talking about it as the digital currency reminds me of people talking about aol as the internet.really just the tip of the iceberg. >> when we come back, the pioneer in the mobile ad space called cargo. ♪ >> welcome back to money moves on bloomberg television. companies know that they need to capture your time and attention there, so enter the exponential growth of the mobile ad industry. i sat down with the founder and ceo of cargo at the new york headquarters. fortunate andn lucky to have almost every single major media company working with us. we had warner brothers and a half of the major magazines working with us. >> and we have a lot of the web companies as well. we see a real value proposition where we can provide technology to them and create advertising integration for mobile and we can build real revenue around that while selling to them and advertisers. we have been able to solve the fundamental problem of how to make money at mobile if you are a premium publisher that does not have enough scale. in and we solve this for traditional publishers. clients want to know tha

tiffany, who has partnered with aol to release a digital series of film and technologies.ke with church are made yesterday. -- she spoke yesterday. >> however people want to experience these films, whether it is on your cell phone -- i now watch the internet on my television, it is also fluid how people are experiencing things and the fact that, in just a couple of months, we made these films these -- this year, and put them out there, and in a couple of months, 12 million views and the response was omitted. people can access it all around the world. that is very exciting as a filmmaker. i still have my films shown in theaters. this model represents the future. qwest there are so many choices for people online these days. how is it you are able to breakthrough? >> hopefully, you are making strong films. the public will either respond or not. we had a full gamut of choices. think what you will see, especially in 2014 and the on, is a lot more original films made specifically from the web and for the web. all of our episodes were released all at once. people call that binge

. >> it looks like aol is still around. and it's coming out in 20 years.re is still a market for companies that don't want to by iphone-4 a variety of reasons and they can serve the infrastructure and i don't think that they are going away. >> the consumer has no interest in their phone. sales have been nothing short of horrific. but think about looking at your smart phone vendor data ann telephone calls. they do have some great security now if some of that is integrated into the system. neil: okay, that is our nightcap music. >> we are looking at homes sales that have shut down the delays. in interest rates are going up, and we should start seeing home-improvement or the stock market thinks it is. >> home sales are going to be really important. we have seen mortgage rates go higher. >> it's psychological. so what is the surprise on that? the economic growth is slowing the fed does nothing this month. neil: that will do it here tonight. see you next time. gerri: hello, everyone, tonight on "the willis report." the white house has a new plan to help health

i am very curious, on the deals that you did with aol, did they pay you directly?tside sources? >> they paid the studio directly and then verizon bought the first season. there is an ad that plays in front of each film, which is interesting, because a couple of years ago i think people's appetites were less for watching an ad. on television you might have to watch five to seven, but on the web you kind of know the arrangement, i just have to watch this one ad. happy to watch if i am watching something i want to watch. >> a good point. maybe there is a long opportunity there for the advertising at the end of the day. thank you, tiffany, filmmaker and founder of the webby awards. >> pimm fox is coming up with a whole slew of his own conversations. >> coming up, we have fast cars and classic rock 'n roll music. i will introduce you to the 2013 nascar nationwide series rookie of the year. kyle larson. and today and the rock 'n roll hall of fame, they named their newest members. we will talk to the president and chief executive of the rock 'n roll hall of fame foundatio

this is, of course, just what happened with aol and compuserve in the 1990s. it looked as though they owned access to the consumer internet, and in fact, what ended up happening was people just bought straight vanilla access, dial-up access, broadband access to the internet itself and went on the web and used open standards. they didn't need these probe pry tear client software -- proprietary client software, so i wonder whether facebook and twitter are the aol and compuserve in this story. now that said, it's actually quite a difficult computer science challenge to build a distributed social system that works in a timely manner. and we know this because it used to exist. net news, if anyone was using the internet in the 1990s, they'll remember that. and, essentially, it was a social media discussion system that was based on open standards. but it was rather slow, and it quickly became rather unwieldily. the volume of traffic passing through it was really too big, and a lot of isps didn't want to get involved with it. there's clearly a lot of technical challen

same thing with aol.>> the idea is important. you have to have a great team behind it and focus on the execution. my favorite thomas edison who used to say vision without execution is hallucination. you have to execute it. that's what don and the team have done so well. >> what was the most important thing that you learned from him or are still learning from him in terms of the growth in business? >> i can't say much. >> we know each other for almost a year and it's the important of people. really investing people in creating a great culture. that's one of the biggest focuses. focusing in on this. >> you are focused on this right now, but a lot of people focus on the technology side. it's booming again. we do these stories about the drones and the google guys. they have out there stuff. we are waiting to see what spaghetti sticks to the wall. in terms of google or apple or amazon, how do you view it from where you sit now, i'm not asking to you pick winners. >> they are great companies and they're executi

. >> i remember this door he from tim armstrong, ceo of aol. "abel, you're fired."ve heard the recording of this. >> there were all of these high hopes. so this -- focusing on local news, the big meeting bringing in 1000 people and some insert stick a picture in the meeting and he fires him on the spot. >> as i said at the time, when you're ceo, don't put a video camera or phone in his face. >> thank you, cory. holograms have hit the live concert scene but do these high- tech illusions sell concert tickets? that's coming up on "bloomberg west." ♪ >> you are watching "bloomberg west." i'm emily chang. another quarter of sluggish sales growth. revenue up but new software licenses and the scripture and revenues dipping slightly. the revenue from hardware systems and changed. apple will start taking orders for the new mac pro tomorrow. tim cook tweeting they started making the whole computer in the usa in austin, texas, calling it the most powerful mac ever. it starts at $3000 and 1/8 the size of the current mac pro. one of the biggest airlines says they will not allow

lou: they basically got this out of the old aol symmetrix? >> yes, absolutely.ver it is that you want to put on there d jack had a great idea to pull it out and make it a website. but there's other things that existed, there was this thing called tech smart and they had this moment and he thought of you could use this rather than updating your status, to really connect with your friends, that was be a hot moment but was a part of it. >> we began the book by reviewing this wonderful scene in which all of the magic appears with the benefit of some slight inebriation. >> now these guys are also talking about this and so are they going to give him a little money? >> i don't want to give away too much of the book because it's kind of a murder mystery. >> okay come you have to read it to find out. >> it's extraordinary to think how much money is being made here and then we watch this selloff as we reprt about it on the ipo. it is so clear that the numbers are just too big on the debut of trading. and i have this sense that the folks running twitter are the same as wel

i got on line, your aol account could be whatever. its's just a long stretch of muscles. figuring it out -- who are you talking to? how are they dealing with the act that they're making it a little easier for people to figure out the irl, while still, you then know, interact with all of the interesting sites and services an option ust not back in the day. >> teens are saying they're using privacy settings. they're aware of them. majority said they had them on all of their accounts. there to s room incruise the standing of the settings. but they're clearly made aware those. they're doing other things in terms of their various pass and a variety of pass words as i mentioned before. parents, we did a survey, a service of parents and teens previously. parents think they know more than what their parents are than the teens say they know. a lot of parents are using controls. we had a majority, but there's that.or parents aren't only concerned theft but also about stranger taker and the safety. the ways of monitoring return to logging on.s of looking at the browser history thing

>> about whatever is happening to me and aol musharraf's leel troubles are far from over, he vows to fight until this is over. >> you can watch that interview on talk to al jazeera. >>> the crew of a russian ship, a chinese ice breaker called the snow dragon failed oget through but may make another attempt in the next few hours. an australian ice breaker is also on the way. >>> high taxes mean many things and more expensive than anywhere else in the world. gabriel allesandro reports from sao paulo. >> largest individual joe game show in lat ifn america. it is the annual brazil game show and this year video fanatics waited in line for up to four hours for a chance to get to try this, the soon to be released sony play station 4. but in brazil the gaming device will cost about $1900, making it more expensive than anywhere else in the world and five times more than the suggested retail price in the u.s. 60% of the price sony says is due to brazilian taxes. >> if i have the opportunity to buy it it will be abroad. >> it's going to be sold initially to the brazilian elite. for it to become

were aol defense until the spring.l spun us off and sold us to a different company called raking media of new york. it only does trade publications. aol has a huge content media empire. asnow renamed and rebranded breaking defense. contributors.e it is a website that is all about defense, obviously. it is very focused on the not hence within the beltway around washington dc and a little beyond. people in congress, people in the think tanks and lobbying groups. people in the defense industry. levelsin the policy of the military. , the one of the headlines national defense authorization act? what does it mean? guest: 451 years, the congress is managed to pass the defense authorization bill. it was a three-step budget. it hasn't happened until three years until now. the authorization bill and then the appropriators who actually signed the checks. most committees completely failed to pass an authorization bill it year after year. basically him authorized a program. authorizes. this year the process is broken down, so dysfu

aol, apple, facebook, google, microsoft, twitter and yahoo!m government surveillance coriggs and said in a joint letter last night, we understand that governments have a duty to protect their citizens, but this summer's revelations highlighted the you were gent need to reform practices worldwide. the letter goes on to read: the balance in countries has tipped too far in favor of the state and away from the rights of the spring, rights that are enshrined in our constitution. this undermines the freedoms we all cherish. now ceos including dick costello, mariska meyer -- marissa mayer push forward five clear goals calling for government to limit surveillance to specific users, not to collect data in bulk and give companies the right to print what government is asking for and how often. this comes at the same time american and british spies are using popular video games to conduct surveillance and gather data about millions of users around the world. intelligence operatives are disguising themselves as avatars like elves, gnomes, supermodels all r

apple, yahoo, facebook, twitter, aol and linked-in are taking part in the campaign. >>> we mentionedcks and bopds. broader markets, oil prices up by about 14 cents. 97.79. since you went away, andrew, that's the big story. crude oil picking up steam. also, take a look at the dollar. at least right now you're going to see the dollar is down against the euro, wow, 1.3709. up against the yen. 1.0307. gold prices this morning are sitting relatively flat, $1,227 an ounce. >> i thought all of these things indicated more of a comfort with the taper. 284 was down from 290. it hit 290 on friday. >> "the new york times" writes -- >> right. what allowed the dow to trade up 200 on friday was the ten-year didn't get out of control and then you would also think the end of tapering would bring a stronger dollar and weak euro vis-a-vis the dollar. that hasn't been the case. 137 making me glad that if we do go to davos, i'm not paying for anything. i'm not paying anyway. i don't care. >> independent about everything, aren't they? >> extra. >> you slept in this could the that i'm goi -- cot that i'm g

a fundraise watch will be in effect or aol -- yeah, will be in effect from tomorrow wednesday morning virtually all of the north bay, the carquinez strait and delta. subfreezing temperatures overnight and early wednesday morning. possible damage to sensitive plant and to exposed pipes. bear that in mind. tomorrow, statewide we're going to have active winter-like weather. snow over the central sierra. above 6,000 feet, about three to six inches of new snow. areas of rain pushing into interior sections of southern california. here in the bay area tomorrow, once the clouds and spritz or sprinkles sweep through in the early morning hours, we'll have at least partly cloudy skies in the afternoon with high temperatures mainly in the mid 50s. here's the seven-day forecast. we'll have active weather over the weekend with a chance of some rain coming our way. by the way, the forecast for the event tomorrow at emeryville, kicking off our food drive, give where you live food drive crew will be cool. but it will be clear. skies mainly clear. no rain will be falling there. come on out and give gen

there is danger in any tech stock they will go out of business, like anybody, blackberry, aol.s long as they keep that user base, not own grow it much, if they monetize it, which is, it is not 1999, they will get a few dollars a year out of these people in ad revenue. adam: jonas, who is buying this stock? if you think it's a mistake, who is making this mistake? >> everybody invested in any index fund or mutual fund is making the same mistake. all the internet stocks are equally overpriced or not, if you think the future will work out for them. it is not like nobody has ownership here. facebook was added to s&p. almost everybody owns it. i own mutual funds for clients. they own a very large chunk of facebook relative to everything else. adam: spencer, you're getting last word. someone is putting a lot of money on the line and they will lose it in your opinion. who are these people? >> i think it is a raging momentum stock. i think it is okay to single out twitter, because that is one of only stocks up 100% in couple days really, when you look at the time it has been public. whe

launch america's nuclear weapons was 00000000. [ laughter ] or as my dad put it, "damn it, they stole my aolhter ] no one would have guessed it. [ applause ] no one would have guessed it! some more news out of washington. president obama released a new video this week to encourage kids to learn how to right computer codes. then he was like, "preferably in the next two or three weeks would really help me out of a jam." [ laughter ] obamacare. obamacare is really -- we're looking for help. anything, anything. looking for any help. >> jimmy: this is very interesting. netflix is apparently coming out with a new documentary called "mitt," about mitt romney's failed run for president. >> hey, jimmy? >> jimmy: hey, what's up, tariq? >> sorry to interrupt. i thought this would be a great time for me to practice my monologue. [ laughter ] i'm auditioning to be mitt romney. >> jimmy: you're auditioning to be mitt romney? well, tariq, i just said it's actually a documentary. >> no, the audience doesn't seem to think it's a documentary. you guys want to see this monologue or what? [ cheers and applause

steve case, by the way, the great theest heist ever, the aol deal back in the day. >> heist. >> he'd think he is thrilled. >> looks pretty happy, i agree. >> all right. let's get to the trade of 2014. this is the one to watch as we enter the brand new spanking year. so b.k., what is it? >> so last year we talked about you could buy japan, sell the yen. that's been a massive trade. still going to stay in the asia-pacific, but i'm going to go with australia so why now? why the australia dollar has weakened significantly but still massively overvalued. last evening australia abolished their debt ceiling so they won't have any worries about that anymore and they will be able to stimulate the economy, so in this case how do you trade it? there's not an etf out there that does it for you. what you have to do is you have to buy the ewa and let's say, for example, you buy 1,000 shares and roughly $25,000, then you short fxa and short about 240 shares for every thousand shares and the reason why you do that. in 2013, if you haven't done, that you would have been done on that trade but if you

it was an aol dial-up website at some point.two months to at least get working will. >> can anyone make that sound? remember that? why is he wrong? >> of all the ways to embarrass me, i won't embarrass myself that way. >> why is he wrong? >> it is too predictable. it is too obvious. we've spent the whole year talking about health care. i for one am tired of it. the website seems to be working better now. do you want me to tell you my pick? >> no. not yet. i'm got go melee mel. >> that was my nickname in hail. thank you for that. it is an i.t. problem. we've all experienced issues with technology on. some level this is just a phone in kind of problem. as brian said, we've all forgotten about it. we're sick of talking about it. no way was this the biggest one. >> he's shaking his head. since you are chomping at the bit. >> my biggest blunlder is right here in new york. it involved one of the candidate for mayor that never should have run. >> i made some big mistakes and i know i let a lot of people down. i'm running for mayor. i h

course, if you look outside, there frequently are reasons to look outside, think about the tax base, aolissa mayer. she had a fabulous first part of her career there. you don't have to be home grown. going outside has its issues. for one thing it's very expensive. >> bob, thank you very much. ty, up to you. >> how do they do it? cut out the middle man. beyonce surprising the music world and all the single ladies by releasing her latest album straight to itunes. amazon turning the heat up on costco and others. google may be thinking about making its own chips. i'm going make my own butter. special "power lunch" rundown is next. stick with innovation. stick with power. stick with technology. get the new flexcare platinum from philips sonicare and save now. philips sonicare. a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-