an early investor in companies such as apple and aol. what does he think about big tech?hat does he make of facebook? demographics as well. here's a man trying to focus in on the silver dollar. this is bloomberg. ♪ taylor: our big focus today is this week for tech earnings. facebook kicking things off this hour. joining us is a venture-capital pioneer who has invested in companies such as aol, apple and venmo. he is the cofounder of primetime partners. he has said that some tech giants, they might have become too powerful for their own good. let's dig into this a little more. thank you for joining us. talk to us about that. we think about facebook. with about these papers that have come out. what do you want to see in terms of some of the big changes that would help instill some more transparency in this company? >> i think facebook has the bigger problem. we are in a time now where there is enormous focus on the general populace and congress and their congressional hearings going on in the senate and house. all the states attorney generals are all focused on facebook, go

>> it was mentioned earlier that he was aole model for african-american soldiers -- he was a role modelor all of us. he always maintained himself with a quiet dignity. if we look back at desert storm, the leader of the ground forces, a big, rotund, very vocal, very forceful. and yet you have a man of incredible combat background as his supervisor, colin powell, and it was a perfect balance. we needed somebody with quiet dignity and presence to back up the aggressive on-ground bombastic commander of norma schwarzkopf. they were both ideal in what they did. in his record throughout -- he was trapped in a bad situation under briefing before the u.n. he was given bad information by the state department, by the cia and by the defense investigative agency. at one point he said, "i can't do this." because he saw flaws and he told george tenet, if i will present this information at the u.n., you will sit behind me. but even though he objected to it, and he told bush and rumsfeld and cheney, vice president cheney, you have got to allow diplomacy to work. he was constantly pushing for diplomacy,

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he's talking about the future and like kevin wrote, it's got a lot of -- i thought it had a lot of aole day when they're trying to stay relevant. microsoft has done this before when they were in trouble and here we are again. >> yeah, that point about the future. kevin, you wrote -- even writing about obviously we have the facebook papers and there's been all this reporting about it. this is an amazingly powerful company. mark zuckerberg is a powerful purse planned. he makes individual calls about should we do something about collection disinformation in spanish. where are we on the ethnic cleansing that's happening in burma. i mean, it's astounding if you can imagine it. your counter intuitive take is that the paper showed in some ways weakness. issued some desperation on the part of the company. i could smell that coming off this video a little bit. explain why you wrote that? why you wrot>> the whole video e facebook's midlife crisis. like it's trying to say look, we're not the same old facebook you've known. we're cool now. we dyed our here. we got a new wardrobe. we bought a comfo

rights on your privacy online has been floating around congress since the days of dial-up internet, aol and prodigy. for more i'm joined by "new york times" contributor. so, kara, it seems as if we're all running out of ways to sound the alarm about facebook. we're running out of ways, you know, it is like the evidence is just pouring out here that, you know, i'll be honest, i'm struggling to find the good that facebook ever provided though frances haugen said before algorithms were added there was a good facebook here. is facebook recoverable and what would that look like? >> a lot of stuff on the internet works just fine. the pandemic has shown that we need to use these digital tools and it can work in a positive way for society and all kinds of things that are happening that are good including on facebook. the problem is that this has gotten so big and so unregulated that they're not compelled to do anything they don't want and they have kind of a trust me kind of situation. as you said, as big as an economy. it is a country. with 3 billion people they're not monitoring it correctly

you know, it's got a lot of -- i thought it had a lot of aol vibes back in the day when they were tryingtrouble and here we are again with facebook. >> yeah, that point about the future. kevin, you wrote -- you have been writing -- obviously, we had the facebook papers and there is all this reporting about it. you know, this is an amazingly powerful company. mark zuckerburg is an astoundedly powerful person. he makes calls about election disinformation in spanish and where are we on the ethnic cleansing that's happening in burma? it's astounding to imagine it. your counterintuitive take was the paper showed weakness, showed desperation on the part. company, and i could smell that coming off this video a little bit. explain why you wrote that. >> the whole video sort of seemed like facebook's like mid-life crisis, like it's trying to say we are not the same old facebook you have known. we are cool now. we dyed our hair, got a new wardrobe, bought a convertible, this is the new meta. and it wreaks a little bit of desperation. in the facebook papers what we saw was hard evidence, statistics

. >> yeah, well, you know, i was around for the aol outage, i don't know if you remember when that happened when everything went down. we are -- the pandemic, if anything, has shown we are married to the internet. we are married to technology, and therefore the people who run it have a great deal of influence over our lives. if we learned nothing else from the outage and the pandemic is that these people who are unaccountable and not regulated have enormous power and we need to seize back some of that power in the correct way. >> cecilia, how important is it? we throw around the word like regulation, like regulation will fix it, but to get that regulation done right because if it does end up centered around misinformation, it could cut deep, right? fox news pumps out misinformation about the vaccine seven nights a week. >> yeah, it absolutely has to be done right. i don't think there's one piece of regulation that's going to solve it all. it may be the case where competition policy as ka ra's talked about, as well as antitrust action, regulation when it comes to transparency, data privacy,

♪♪■g♪ ♪♪♪ >> accss edible f our l our cen ahead aol up and the next day il heat it and ready for deliveryt, i'm passionate about it and it's just been great. i believe it's such a blessing to have the opportunity to actually feed people every day. no food should go wasted. there's someone who wants to eat, we have food, it's definitely hand in hand and it shouldn't be looked at as work or a task, we're feeding people and it really means so much to me. i come to work and they're like nora do you want this, do you want that? and it's so great and everyone is truly involved. every day, every night after every period of food, breakfast, lunch, dinner, i mean, people just throw it away. they don't even think twice about it and i think as a whole, as a community, as any community, if people just put a little effort, we could really help each other out. that's how it should be. that's what food is about basically. >> an organization that meets is the san francisco knight ministry we work with tuesday and thursday's. ♪♪♪ ♪ by the power ♪ ♪ of your name ♪ >> i have faith to move mountains because

we don't think they're amazon, we think they're aol >> gene. >> yeah, let me start with the cfo sayingrtain what will happen with margins and implying they could fall he didn't say that longer term, i interpret that as four-to-five quarters i think his words were considerable upsize, the current margins. margins are 28 and 28 point 8% and the growth margin credit i think they will be 40% over term so i wanted to address the margins. secondly, i want to address, what is the atopic here is tesla a buy or not in if you look at the current run rate, i agree with jordan it does not justify a 50 million market cap. if you take a long-term tech approach, where is the growth growing? toyota and those companies you mention reasonable doubt not growing at 73% we can debate what tesla's true growth is. ultimately, thatly grow into this valuation as long as they have cars people want and it goes to ev, that's a massive shift over, i think they can, this can be a much bigger company. >> that's the point. i don't know if you tuned in, we tried to bring it up with mike jackson, the ceo of autonation

about the distinction going online or america online they create add great wall garden environment, aolmbitions. yes, today in the short term they have advantage, certainly in the hardware front. the software one is for sure a level playing field. in fact i give some advantages to david because of rate of execution and the fact billions of people connected overt world can be much more creative than a few in one office. i think you know, with the amount of money that's flowing into venture right now, start-ups that can get competitive on the vr front, they can get funding the bigger things here are going to be more foundational software that's the stuff that's going to be built in the next five years, and actually make it worth it for you to spend time. right now the competition is watching netflix playing "fortnight." scrolling through your phone we're still not going to all wake up in the metaverse tomorrow this is a gradual thing. i think it's going to come all at once. >> alexis, let's talk a little about a squirmish kind of dr dredged up on twitter. a little back and forth in debate

aol are you still wanting tax before you release your vote on the infrastructure bill?k we need to have certainty. either through legislative -- agreement that we can trust. because we have seen so many changes in this process. so many people, you know, yes, no. doing the hokie pokey, one foot in, one foot out. we need certainty that we are going to be able to deliver. >> certainty to be clear doesn't have to be legislative -- it could be enough of a framework enough handshakes, those types of assurances. >> i think we need something a little bit more than just something on the back of an envelope. legislative texts -- i think we are open to other mechanisms. there needs to be something more than the back of an envelope. >> what about the bully pulpit of the president coming in and saying i need this. i need your vote. i need you -- >> well, first and foremost, passing this alone i think is a positive message. having a plan to draw down a mission and invest in environmental infrastructure in this country. thank you. host: congresswoman ocasio-cortez. just moments ago. s