roger: a great honor. emily: i have never had the opportunity to ask how did roger mcnamee become roger mcnamee? i am glad we have a chance to that church today. roger: i grew up in new york. i had a wonderful childhood. i had health problems as a kid. i developed a condition at age two. at 10, i had a traumatic injury that required life-saving surgery. it was one of those experiences you come through and it forms your personality in an interesting way. emily: how did it? roger: i became more introverted and essentially, i got used to having to go my own way because the digestive disorder i had meant i could not eat anything that had any grain in it. you grew up without birthday cakes, cookies, bread, and cereal. you have to develop tremendous self-control. what are some traits that are really useful. emily: did you want to become an investor? roger: i knew nothing about it. when i look back, the experiences of zero to 10 had a great influence. i was always different from all of my classmates. emily: he went to

emily: so elevation does not exist anymore? roger: elevation is me. emily: is this remission of? investing? roger: i have been doing this nonstop since october 2016. the same way mark outgrew me, this thing should outgrow me. i'm not the right person to do this, but there was not anybody else. and so i kind of view it as a form of public service. at least i hope it is. i hope people except it as that. if they are worried, read what i have written. think about it. ask yourself the question, are you addicted? i am, hopelessly so. i can't but help check the thing. i tell people, turn off your notifications, right? and think about how you use these products. are they taking over your life? if you are on slack, do you really want to allow them to browbeat you to having notifications interrupting everything you do? if they do, they control you. take your time back. take your self back. these people are all billionaires. they don't need our sympathy. they don't need our help. well, they do need our help, but they don't need us rolling over for them. emily: roger mcnamee, long-time tech i

emily: how much facebook stock did you buy? roger't buy that much, but it turned into a lot of value. emily: how much did you make? roger: a lot. it was really important. facebook was weird. it was the gift that kept on giving. emily: you think facebook is in an existential crisis. roger: i do. emily: and you have not been shy about it. roger: no, in 2016, i noticed bad actors on the platform. i didn't know what i was saying. -- seeing. initially it was the democratic primary in 2016, then a firm scraping facebook, people who were interested in black lives matter, then selling it to police departments in violation of the fourth amendment. then there was brexit, the leaf campaign has set your hair on fire, the immigrants are going to take away your jobs and culture strategy versus leave, which was saying stay the course. i realize holy moly, facebook is , biased in favor of anger, and fear, and therefore people who run campaigns based on fear have a huge cost advantage, and that's how brexit happen. and finally in october 2016, i am r

emily: you went on to run a technology fund. roger: i did. arting my career, being assigned to cover technology meant the first rule of wall street is timing is everything. emily: so were you smart or were you lucky? roger: i was totally lucky. you can explain my entire career on the basis of a great starting day and being assigned to the sector that was the dominant growth sector of the u.s. economy for my entire career. pure dumb luck. i get there, things go up, things go down. they create this thing called the science and technology fund 19 days before the crash in 1987. the thing is down 31% in a month. they say, roger, why don't you take over? i said, cool, but you have to do it my way. they said, this is what i love about t. rowe, they said, fine, do it your way. i spent 120 days a year traveling. institutional investors and top analysts were doing 29 meetings company visits a year. i was doing 400 face-to-face meetings with companies. nobody had done that before. this is the late 1980's. it worked so well in tech. emily: you went on to

emily: roger and tristan met on bloomberg tech, and i have also spoken to tristan, and yet an importantut original content efforts on facebook, and we know video is a huge driver of new ad dollars. take a listen to what tristan had to say. >> there is no way to know or be accountable to those complexities, so they unleashed a mind control machine that they don't know that it is pushing into people's minds. emily: he found more about apocalyptic about what facebook has created. nick: i would agree with tristan about the diagnosis of the problem. i feel the doctor is paying attention, and tristan's view is take a listen to what tristan that this is a disease and no one is there. if you look at facebook statements in the last few months and their actions, even if you look at video -- they are de-prioritizing video in streams after massively prioritizing it in a period of time. maybe they're not going in the right direction, but i think the conversation happening now and effort happening now is a substantial. emily: what was look at to the story? nick: this indictment has crazy details, lik

emily rogers, planning department staff. the purpose of today's hearing is to bring you up to speed since your last hearing on this project in august of last year. and also to discuss a very important thing -- the timeline for initiation. i wanted to make some preamble remarks before the project manager spoke because this spronls inherently important to the department as well as to the city. in our work programme, we have identified this as one of the seven priority projects that we're focusing on in our work programme. and we've picked this one because it has so much to offer to the city. with over six million square feet of office, 7,000 housing units and $2 billion worth of benefits, there is a lot at stake. and as important as it is to have housing near transsit, it is even more important to have jobs located near transit. and that's with what's at the heart of this programme. in particular, we are obviouslily going through a very tumultuous time in the city. and with an important plan like this on the table, we think th

emily: roger mcnamee is pushing this i that facebook should andge their facebook model have a subscription users get to control what they see, is that realistic or a good idea? nick: i am in the media business -- emily: you think a subscription model would mitigate these problems? they came up with a business model -- they chose ads, had they chosen subscriptions, everything -- there jumped one the to get your attention, but make a product valuable to you. emily: what they have to billion users? nick: they might not have 2 billion users, but it would make society better. emily: can they go backwards? no, you can use it for all kinds of good things, i raised the work at the new yorker, how do you think we sold subscriptions? facebook targeting, it is good, they built an amazing machine and they are not going backwards. rodgers idea is extremely interesting, but they are not going to do that. emily: next, great to have you back on the show. thank you. the first u.s. commercial right hailing service without human gyrus has been approved, waymo got approval from the arizona department of trans

♪ ♪ emily: how big a role do you think facebook played in the election of donald trump? rogerll i think that without facebook it is inconceivable he would have been nominated. emily: he would not have been nominated? roger: no, i think the impact on the nomination was greater than the general election. the reason is because the russians had been doing this campaign of essentially trying to divide the american people, to polarize them, so they took these issues like guns, like immigration, rights of women, black lives matter, and they would try to divide the country by seeding both sides and causing arguments. trump showed up and adopted the same themes they had been doing, and i assumed it was just because that is the way he thought as opposed to it was coordinated. so he effectively got this free ride off of this 2-3 years of russian investment. the other republicans were all running standard republican campaigns. they were defenseless. it was effectively he had been campaigning three years before they started. that is how he got nominated. we can't fix 2016, and that is not

emily: have you heard from mark and cheryl -- sheryl? rogere the power to fix it, but i suspect their lawyers have told them not to -- my point here is that i would love to -- the way you know when people have a problem and are serious about fixing it is if they reach out to their critics to understand the issues. i am sitting here and i understand that people would be mad at me. i really do. but i would have everybody asked the question, what is actually in this for me? ok? i mean, seriously. i don't need this. emily: if they don't do this, what you think will happen? is in our democracy extreme peril right now, and we don't have a lot of time to fix this. elections are coming up in november, and we don't have time to essentially safeguard them. this time, it is not just the russians you have to worry about. emily: that was silver lake co-founder roger mcnamee, and you can catch the interview tonight, 9:30 p.m. eastern time. and that does it for this edition of "bloomberg technology." this is bloomberg. ♪ announcer: the following is a paid pr

roger: emily, it is a great honor to be on your show. emily: i have never had the

. ♪ emily: we sat down with elevation partners and silver lake co-founder roger mcnamee, and where hesocial media giant is falling short. >> all i am saying to facebook is guys, you have one. you don't need to have this kind of business model. there is a way to have a business model that is actually better. my point is i would like to spend $10 a month and i would like to control my newsfeed and what to take the ads out and make it more valuable to them, and have one version that is politics, one version that is family, sports, health and fitness, work related. being able to toggle through them and control things, and i want them to be successful and they can be. they are hiring 10,000 people to handle the issues of fake news or abuse, is that enough? >> not only is that not enough, it is a relevant. you cannot fix this damage after -- byct by having police having people police it. it aave companies who make perfect platform for bad actors to abuse a platform. you can only fix this robin by fixing the algorithm. emily: how so? thatu have to make it so anger and fear are not the predom

emily: would you make of what roger mcnamee has been saying in this downward and negative spiral?ir denial of self responsibility, and a half felt strongly about how facebook was and how it was making me feel with things i was doing. i decided to get off of facebook, and it has been six months and i haven't missed it. i think a lot of people were talking about facebook being related because it is negative to our society. before we do that let's be self accountable and decide that we willtizens of the world not teach our friends, family, and kids to spend more time on facebook. companies like instagram. we should take a positive step forward on our own behalf for us, not regulation. emily: you may have more self-discipline than the average american. you can leave your phone at home. guy who's smart for 27 years and killed myself in the process, so if it is an addiction yet divided as an individual. emily: what about children? these are devices the are going to grow up with no matter what. how do you fight that and how dangerous is it? part of the problem is we don't know the impact

. ♪ emily: he has invested alongside bono, mentored mark zuckerberg and made an early investment in facebook. rogers name betting on tech through the 1980's and 1990's, then cofounded silver lake and elevation partners. never one to shy away from voicing his opinion, mcnamee now has a new message for facebook. has a new message for facebook. they are getting it all wrong, dividing countries and putting democracy in peril. joining me today on "bloomberg studio 1.0" is roger mcnamee. roger, great to have you here.