now chamath, the first real growth hacker there.he doesn't know what's going on right now, he knows the dna of the company and the intent behind the growth that's brought it to the point of being 2 billion plus strong. how's this line up with your thesis in your book "the four" and what facebook is really trying to tap into in our society? >> facebook is trying to tap into more and more earnings. these companies are doing their job and growing earnings people not doing their jobs are us, because we're not electing officials to hold the companies to the same standards. if you were weaponized by an intelligence group of russia, i think there's a chance the next day they would have set the network down for some reason we give these companies a hall pass. try to take your ipad away from your kid and you hear your 7 year old say note to self, must kill dad can you imagine the labeling and studies around that? we're finding this out about social media, but for some reason they play by a different set of rules because we worship at the alt

and what is not popular may not be truthful. >> facebook takes issues with chamath palihapitiya's kraritiques, they say we have done a lot of work and research with outside experts and academics to understand, and we are making vig can significant investments in more people and processes, and we're making sure the right investments are made still chamath palihapitiya says he does not use social media at all and his children get zero screen time. >> wow, julia, thank you very much >>> let's continue this. is social media good or bad for all of us? we will dig deeper with our panel, herb greenberg, active user of social media joining us. and drew sulipac from the university of florida. herb, i understand facebook's response i don't think anybody is blaming -- they seem overly defensive. nobody is blaming facebook or twitter. it's not the platform, it's what you put on it. maybe it's the people. what's your beef with social media? you think it does more harm than good not to the news business, but to every-day americans. >> well, i guess the good news is, every-day americans are not on s

it's that simple. >>> welcome back facebook hitting back at former executive chamath, let's get to juliarstin with more what is facebook's response? >> well, morgan, remember earlier this week he attacked facebook and other social media giants take a listen to what he said on cnbc >> i think the tools that have been created today are starting to erode the social fabric of how society works. >> today facebook defending itself in a blog post saying they want facebook to be a place for meaningful interactions, which actually improve people's health and happiness, saying, "our research and other academic literature suggests it's about how you use social media that matters when it comes to well being. going on to say we supply social psychologists, sociologists to better understand well being and work to make facebook a place that contributes in a positive way. to that end facebook is announcing changes, prioritizing posts from friends and demoting click bait headlines, allowing people to snooze or hide a person also introducing a tool called take a break to enable users to hide their exes, a

. >> reporter: chamath palihapitiya, a former facebook executive once in charge of user growth, now says he has tremendous guilt about the social network he helped build. >> we have created tools that are ripping apart the social fabric of how society works. >> reporter: and it's influencing the next generation. studies show 92% of teens go online daily, and one in five young people regularly wake up in the night to send or check messages on social media. >> people need to hard break from some of these tools, and the things that you rely on. the short-term dopamine-driven feedback loops that we have created are destroying how society works. no civil discourse, no cooperation, misinformation, mistruth. bad actors can now manipulate large swaths of people to do anything you want. >> reporter: he's not the only social media executive blowing the whistle. former facebook president sean parker recently said the initial goal was to get people hooked. >> you're exploiting a vulnerability in human psychology. the inventors, creators understood this consciously, and we did it anyway. >> we have t

chamath palihapitiya made the comments last month but what he said only hit the headlines on monday.k said the company was different no to when he had worked there six years ago and "as we have grown we have realised how our responsibilities have grown too." that's our twitter question today. sendin that's our twitter question today. send in your xhevenlts —— comments. ryanair passengers face disruption to their christmas travel plans after pilots and crew announced industrial action in a bid to win union recognition and better conditions. in ireland, pilots based in dublin will strike for one day on 20th december. meanwhile ryanair pilots and cabin crew in italy are to strike for four hours on 15th december. the american computer data storage company western digital has settled its long running legal dispute with toshiba. the dispute could have prevented the $18 billion sale of toshiba's prized memory chip unit. monica miller is following this from our asia business hub in singapore. finally there could be an end in sight? yes. it has been an ugly, bitter divorce. yes, it's finally

chamath palihapitiya, who was a vice president at facebook, may have shocked students at stanford duringent q&a. the now c.e.o. of social capital said of the very social network he helped build into the world's most popular the following -- "i feel tremendous guilt. we have created tools that are ripping apart the social fabric of how society works." and, again, worked at facebook. "that is truly where we are. the short-term, dopamine-driven feedback loops that we have created are destroying how society works." he delivered this with a straight face, ajay. what do you think? >> well, i 100% agree. i've actually written about this. we all are tribal in our min-set and perspective, and now with technology and the ability to do social media, we are now creating our own tribes where we can either agree with the same and find the other that we can attack, those creating new ghettos of grievances where all we're doing is expressing hate and bigotry and racism and find offenses even when there aren't any, only because we're identifying in a tribal mentality of polarized us versus them and gives

. >> i wonder if he can be as impressive as chamath palihapitiya yesterday that was awesome stuff >>re is a guy who made me think. his kids, don't know if you saw that part, where he was talking about it, no screens zero screen time during the day. >> that was my life growing up my dad did not allow tv in the house at all look what happened i work in tv. >> >> my dad had to allow tvs in the household. >> you know, concontessa, i did have tv but three channels it was black and white and you had to move the rabbit ears. >> and you had to get up out of the chair to change the channel. >> you do to change it from goemer pgoem goemer pyle to the munsters. he started talking about you get a dopamine fix from the screens. >> it's as addictive as heroin on developing brains, they're trying to figure out why but when you are wearing young children, you have to think, we don't know what the long-term impact is. also, on the other hand, if we're going the way of computers, if singularity is our future, then maybe we do need to indoctrinate them. >> that dope ma meamine hit, wee talking about fa

. >> thank you >> thank you >>> coming up, chamath palihapitiya will be our guest host at 7:00 we'll him about all these things, bitcoin, social media his latest investments then senatorric pat toomey joins to talk tax reform. >>> and breaking inflation data. we'll get november producer price index. at 8:30 a.m. eastern -- that's at 8:30 a.m. eastern stay tuned, you're watching "squawk box. right. but you want to fix it. right. so who sent you? new guy. what new guy? watson. my analysis of sensor and maintenance data indicates elevator 3 will malfunction in 2 days. there you go. you still need a pass. there you go. you myour joints...thing for your heart... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and ge

and tomorrow on "squawk box," billionaire tech investor and bitcoin believer chamath palihapitiya wille our "squawk" guest host. looked at? oh yeah. no. at cognizant, we're helping today's leading manufacturers make things that think and do automatically. imagine that, a world of new digital products and services all working together for you. can i borrow the car when it's back? get ready, because we're helping leading companies see it- and see it through-with digital. the market.redict but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. >>> ggp has rejected a $14 billion buy-out offer from its biggest shareholder. brookfield made a $23 a share offer for the 6% of gdp it doesn't already own. brookfield is said to be considering a new offer for the massive mall operator. >>> we're watching shares of hca. hospital operateors extension health and providence -- are in merger talks a tie for the two nonprofit companies would deplothrone hca >> tech crunch appl

even ether here's what chamath palihapitiya had to say about bitcoin when he was on "squawk box." >>way i said in 2013 put 1% of your net worth in bitcoin. today i think this thing is a $100,000 a coin probably in the next three to four years and in the next 20 years, $1 million a coin >> a million bucks a bitcoin joining us no nick spanos who is cofounder of snap.org. welcome to you both. nick, i'll begin with you because you're our bull here i mean, are you as bullish to say it's going to a million dollars a bitcoin? >> sure, yeah. i mean, there are only 21 million bitcoin and the whole economy is going to be -- most of the economy is going to be using bitcoin's block chain. right? block chain, bitcoin is a reward system to hold up this blockchain you know, it clears trades in a few moments compared to three days smart contracts are going to run the economic world pretty soon we're going to be headed to the jetsons any moment. >> what do you have to say in response to is that? >> well, i don't know why he didn't say it was worth $10 million or infinity. it's hard to speculate that