so to get the money to build this thing, in '68 we brought bill mcgowan in to do the financing.t i thought that the concept, if it was changed, could make sense, not individual ones, but a nationwide system hooked together. the ability to be able to provide then-existing technology -- microwave -- as a competitive service to what had been up to then a monopoly, at&t, the bell system, in long distance communication services. what you had was a revolution in how telecommunications went about its business of switching and of communicating between points. d the revolution - the computer, the microwave, the satellite -- were really available to everybody. it wasn't like stringing a wire. and that made possible the competition. but if the bell long distance monopoly is dead, the idea of a natural monopoly lives on. across the country, when cities and states decide to set up the ground rules for local phone service or electric power, they generally decide that under the circumstances, a regulated monopoly is their best buy. our economic analyst richard gill can tell us how he and his c

. >> bill mcgowan. >> mci.ch who did a lot of his building beginning back in the 1950s. but whose greatest impact. >> it didn't bother you with millken but somebody with some of the others. >> i was just really kidding there. we had to have, for diversity sake, we had to have at least one felon on the list. >> let's talk about similarities. technology had a massive impact. tech titans dominated. you saw four of the top five being filled by the silicone value vision ears. was that an overwhelming theme you kept coming back to again and again? >> happy to avoid it. tech has been the driver, along with finance, health, and media. but tech first among equals in that group. >> it's been transform active. but also life experience. almost every one had profound moments of setback. steve jobs, a lot of people have been fired. >> you separated buffalo versus private. greenspan, bernanke are not business people. i don't understand how that works. >> but they had their hands on the money for the entire time. that was the

. >> we're taking our office hours advice from bill mcgowan. check out his office hours.hat he recommended. >> thank you for coming in today. >> thank you for having me. >>> visit levo.com/ask for more. >>> when we return, the focus will return to the global market sell-off. european market selling wall street's lead a little bit. not quite as bad. asia was scary. the eurozone is heading into qe when we're heading out. maybe it's different for them. and the ceo of lending tree gives us a snapshot of the spring real estate market and mortgage rates. as we head to break, here's a look at yesterday's winners and losers. financial noise financial noise financial noise financial noise (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) ranked highest i