mark zuckerberg owns facebook.r snapchat so he bought out instagram to kill them off. is it a smart move by these chaps now to go public to wall street? there is great urgency to go public quickly. the era of quick money is at an end. we just heard about the interest rate rise in china and we will have it in the us later this year. the availability of cheap money will be harder. it is good to do it now with the ipo before the hype around technology diminishes. while i have you and with your background in technology, i have to ask you about amazon, one of the biggest companies in the world. they came out last night and said they are not making as much money as we all expected to be that is something to do with spending a lot on investment. the a1 is the most innovative company in the world. —— amazon. they have innovated groceries and cloud computing and the echo. lots went right for them but they have disappointed with overall revenues. they are asking shoppers to buy on convenience, notjust with lowest prices any

facebook crushed both with 526 million.f course, the grand hope is that the company grows into the next facebook. comparing snap more closely to twitter. for example, snap like twitter, still a relatively niche platform. it is continually improving the core product for consumers and advertisers. not trying to be ubiquitous for its own sake. >> so dan over here is suited up. >> what do you mean? >> these are my spectacles i i said a said, i ripped off my 13-year-old daughter this morning. the 2012 will lead up, 2013 will lead to the twitter ipo and even alibaba. we heard the same sort of 98 sayers about all of those. they were all sort of niche for all intents and purposes. i think snap chat is very niche but i think one of the interesting things about this company. they don't see themselves as a social media company. they see themselves very different. as a camera company. and with 158 million active users, it is niche and a really tight demographic. and i think they can go to a lot of places. i do see the sim tlarts on twi

facebook wants to hone in on some of that demand.f it does that successfully, it is a real alternative to youtube, so in the big battle between those two heavyweights, it becomes another front for the music labels. it becomes another stream of revenue for the labels, despite what they get from youtube, and it helps put pressure on youtube. they have deals with youtube, they all have rules about how they govern the copyrights, so this gives them something to whack youtube with. for streaming companies, they have been the story of success for the music industry. they have helped the record labels row for the first time in a long time. another very popular way for people to listen to music, and by the way, it's free, you could see some of the growth get cut into. that is a worry for streaming companies like spotify, and for the labels, because they get a lot of money from spotify. there is a balancing act that goes on for the music industry. caroline: and the music industry, the labels, perhaps they might be pleased by who facebook has

facebook, 526 million. the grand hope for snap bulls is that the company is grown into the next facebook. many are comparing snap more closely to twitter. ryan weisser says snap like twitter still a relatively niche platform and snap will best maximize the value by continually improving the core product for consumers and advertisers, not trying to be u bik tous for its own sake. >> dan over here is suited up to -- >> what do you mean? >> these are my snap spectacles i ripped off my 13-year-old daughter. it's really interesting, go back to 2011 and lead up to the linkedin ipo and facebook ipo and 2013, twitter and alibaba, we heard the same sort of neysayers about those ipo. they were all sort of niche, snap chat is obviously very niche, but one of the interesting things, they see themselves as something very different, a camera company and the growth opportunity for a company that already has 158 million monthly active users is the fact that it is niche right now and really tight demographic and they can go

facebook, 3.7 billion.s for who lost and made money, snap lost $515 million in 2016, twitter lost 79 million the year before its ipo in 2012. facebook raked in a net income of 1 billion in 2011 and when it comes to users snap only disclosed daily active users in its filing, 161 million, twitter had more than 100 million at the time of its filing, though it no longer provides that metric. facebook crushed both with 526 million. of course, the grand hope is that the company into the next facebook, but many are comparing snap closely to twitter. for example, brian wheezer of pivotal research says snap like twitter a niche platform in his opinion and snap would maximize the value of enterprise by improving the core product for consumers and advertisers not trying to be ubiquitous for its own sake. >> thank you. >> so dan over here is suited up. to -- >> what do you mean? >> here's the thing. these are my snap spectacles i ripped off my 13-year-old daughter this morning. here's the thing about this. that's reall

she said martha has been on about 60 times on facebook live.nd each time the numbers are through the roof. obviously, advertisers want to reach those folks that are on facebook live. so this is not instagram. this is not what's app. this is facebook live. and it's yet another lever they can pull. i still like the up side here. but i am -- not so much concerned, but i'm noting that each time they have blowout earnings, the stock trades up in the after hours. and it gives it up by the regular session. >> so what does this mean, then? what does it mean they had what most people would be consider to be blowout numbers? it was a great quarter. why is the stock down 1%? >> maybe the conversation as far as spending. but for a company like facebook, i'm okay if they're going out and they're actually going to spend. and i think maybe that's some of the trepidation of advancing the stop further than where it was in after hours. >> and the lawsuit joke. the 500 million -- >> the fact that 85% are global digital advertising either going on facebook or goog

anyone who's done facebook video, facebook live understands that this thing -- they haven't figured out to monetize it. they don't have to because there's so many other things. hedge funds don't use facebook, they ask their kids about instagram. they should. hedge fund managers, go ask your kids about instagram. they split it between snap and instagram, but instagram's big. my daughter does fashion shows on both of them. and i've got to tell you that because they don't have any knowledge of how it works, they sell it off that gap expense number. because that's what they know. they look at expenses. oh, man, that expense out of control. if you build data centers and don't just use data center reit, it costs money. >> right. but it's not as though people weren't anticipating they were going to spend lots of money. it's just they're spending more than they might have anticipated. >> the stock did run off of apple. now, i think that -- look, i reiterate that they don't understand facebook. they haven't understood ever since it went mobile and that's because they don't use it, they don't kno

look at facebook. facebook same drill. facebook's -- >> 13%. >> they gave back a little bit since then. i giveback is okay. it's healthy to give back like that. the expectations going into earnings. we're significant. you're going to see money come out -- >> there's a consolidation phase. when you have the kind of runs -- look at every one of those names, for the most part has run into the earnings, even ran post earnings and we see the pullback. facebook accelerated that whole thing last night. so that was in a 24 hour period. >> for more on amazon earnings report let's get to jean muenster who joins us tonight. gene, what's the take away here from amazon's results. >> i think you and pete nailed it. it's about the aws numbers. every one knows that amazon guides conservatively and they invest. investors i talk to want to see more optimistic around that aws number. i want to couch this that everything is fine with amazon. the story's intact. there are 38 points that amazon gave on their press release tonight and one of the

javier: usuarios de facebook en alerta.s pÁginas de esta red no sÓlo que parecen y pueden estafarte. carolina: tremenda polÉmica. por no proteger de la discriminaciÓn a estudiantes transgÉneros en las escuelas. [mÚsica] javier: comenzamos en noticiero con el secretario de estado y el jefe de seguridad nacional. en este momento estÁn en mÉxico con la difÍcil misiÓn que acepte los drÁsticos planes del presidente. quÉ tal? los saludamos carolina y javier. carolina: conectamos vÍa telefÓnica con jessica que nos habla de este tema y mÁs temas. escuchas? jessica: sÍ, estoy aquí en la ciudad de mÉxico como decÍanen el Último capÍtulo de la relaciÓn entre estados unidos y mÉxicos. estÁn aquÍ como ya lo decÍa javi con una muy difícil misiÓn que es tratar de convencer al gobierno mexicano de aprobar las nuevas directrices en materias inmigraciÓn presentados por el gobierno de donald trump. que como sabemos han tenido desencuentros como mÉxico. enrique: lo hemos expresado asÍ, el secretario de estado y el secretario de seguridad. el d

facebook has been caught up in this.ginner undermining the common understanding, so does sensationalism, and polarisation. let's speak to our economics editor. you have been speaking to mark zuckerberg. is he stopping being a businessman, becoming a politician? he insists he's not. we had rumours, would he run in 2020, he said no. he told me in the bbc interview that he did not want to be a politician. not now, he said. he did not say not ever. he is the leader of the biggest businesses in the world. frankly, he is as influential as he's going to be as a politician, leaving facebook. what is interesting about what he told me, what he put out in this 5500 word post on facebook tonight for me talks about globalisation, fake news, he talks about people not getting upset, but fighting back. a call to action. he said the way to fight back is built connectedness across borders, bring down barriers. what an opposite tone to the tone of president trump. very careful with me not to bite, on any of my questions about donald trump.

facebook shares up 1% in premarket trading. lauren: donald trump and democrats getting ready for fight of the president's pick of the supreme court. >> the qualifications of judge gorsuch are the undisputed. i only hope both democrats and republicans can come together for once for the good of the country. nicole: will be right back. lauren: 5:15 a.m. in new york. donald trump has made his selection to the supreme court the nominating conservative judge neil gorsuch pretend u.s. circuit court of appeals to certainly faces a potentially contentious confirmation in the senate after republicans last year refused to consider the vacancy caused by the death of justice antonin scalia. rex taylor said is about to become secretary of state. senate expected to confirm the ceo and a final vote today despite demands by some democrats to question rex tillerson one more time to get the controversial immigration order. a couple of text apps today. apple one of them but three straight quarters of declining iphone sales ring back with the fourt

facebook. first my next guest is accusing the nsa of unlawfully listening in on white house calls in order to bring down president trump. he's a man who won a lawsuit against the nsa for it collection. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car r

. >> sreenivasan: facebook c.e.o. mark zuckerberg has laid out his vision for the social network's future in a nearly 6,000-word manifesto he posted on thursday. called "building global community," zuckerberg called for more connectedness to empower people to combat social ills. for more, i am joined by kara swisher, executive editor of the news site re/code, who spoke with zuckerberg about his essay. now, worth noting, the social network has 1.8 billion people, a quarter of the planet. but why is it a big deal? there are shareholder letters written all the time by companies. >> thee didn't write to shareholders. he wrote it to employees of facebook, and i think he wrote it to the general public, too, certainly from reading it, it wasn't about investment and not about the business but more about their soul, the soul of the country. >> sreenivasan: one of the things that seems to strike out is in the transform global connectedness he is speaking against what we are seeing as a nationalism and isolationism. >> absolutel

that, my friend, is facebook. why do i say that? first, quality content you want to look at costs fortunes to develop. i know this. i'm in the content business, have been for decades. the single biggest worry investors seem to have about anyone in the content game is runaway costs. facebook, though, you cover the cost of content. you. the paradigm's upside down. they simply distribute it and make money off it. what a business. in fact, the more content you make, the more the advertisers clamor for it. facebook's biggest issue if you ask me, i wonder if they have enough salespeople to handle all the business coming their way. talk about a high-quality problem. how much business? for this quarter, they had advertising revenues of $8.63 billion, up 53%. much better than the number wall street was looking for. they have an extraordinary 64% gross margin, what they make after the cost of goods. a phenomenal figure. why do advertisers love it so much? one word. engagement. facebook has 1.23 billion daily active users, daus, including the

at facebook headquarters in menlo park, 11:00 a.m. on wall street, and "squawk alley" is live. ♪ ♪ >>> good thursday morning. welcome to "squawk alley." jon fortt, kayla tausche and myself at post 9. henry blodget, business insider, joining us here. there are reports that alphabet and other tech companies drafting a letter opposing the administration's temporary immigration ban, according to recode. an early draft -- "we are a nation made stronger by immigrants. as entrepreneurs and business leaders, our ability to grow our companies and create jobs depends on the contributions of immigrants from all backgrounds. while security and vetting procedures can and should always be subject to continuous evaluation and improvement, a blanket suspension is not the right approach." as the president prepares to welcome key members of his strategic and policy forum to the white house tomorrow, henry, how important is it that these companies are getting together to write a letter, some argue, as strongly worded as this? >> i think together they do

in downtown savannah. >> good morning, facebook followers. today you can see live coverage of the savannah book festival. this festival takes place in health or square and most of booktv's coverage is going to be live out of the trinity united methodist church. john camby is speaking and following his discussion you can call into booktv to ask your questions later this afternoon you hear from william doherty, his book is in the shadow of the ayatollah. you also hear from how to survive obamacare, trump wall street, kick-start your retirement, and achieve financial success". dan slater, author of "wolf boys: 2 american teenagers and mexico's most dangerous drug cartel". the others will be available for you to ask your questions and we will also bring you live video from outside the square to show you what the festival is like for us. for a complete schedule of booktv programming you can go to booktv.org and that is the exterior of trinity united methodist church. we are inside all day today bringing you authors. if you would like to see more b

facebook. giant has redoubled its efforts to reach a broader part of the industry according to bloomberg sources. joining us from l.a., thank you for joining us. moving we know about the -- wooing from facebook? reporter: they have been making the rounds around l.a.. more importantly their lawyers are talking to the label lawyers. they want to come to an agreement when you and i upload a video on facebook, the label somehow gets compensated. that is complicated because you have to work out how is facebook going to identify when a song comes up, who is it and who they own money to. caroline: what would be the impact if facebook muscles in? reporter: there is all sorts of ramifications. itself, it is moving more into video and trying to sell advertising against video. if you think about the most popular way to listen to music, it is youtube. facebook wants to hone in on some of that demand. , itt does that successfully is a real alternative to you to. the big battle between those two heavyweights

day at the top of the facebook newsfeed. how many of you here use facebook? just show your hands. okay, i want to make sure i can calibrate the terminology that i use. at the top of the facebook newsfeed is where we provide these reminders on election day. they give you the idea to lookol up official information such as polling location, et cetera, and also to share that you are a voter. it's sort of the digital equivalent of the i voted stickers that are very popular at polling location. that's been happening since 2008. we've. we been actually doing it in countries all across the world. and we are up to 47 countries across the world that we've done this and since 2008. this year we wanted to try to help earlier in the process and help people navigate the entire process of voting, not just on election day. we did a pretty comprehensiveses series of product work within facebook to promote participation at throughout the cycle. it started with similar reminders to register to vote that were specific with deadlines for each st

on election day at the top of the facebook newsfeed. how many of you here actually use facebook? if i could just get a show of hands. okay. i just want to make sure i can calibrate the terminology that i use. so at the top of the facebook newsfeed is where we provide these reminders on election day. these reminders give you the building both to look up official information such as polling location et cetera, and also very powerfully to share that you yourself are a voter. sort of the digital equivalent of the i voted stickers that are very popular and polling locations. so that's been happening since 2008 and we been doing it in countries all across the world. i think were up to something like or seven countries across the world that we done this instance 2008. but this year we wanted to try to help even earlier in the process comes to build help people navigate the entire process of voting, not just on election day. we did a pretty comprehensive series of product work within facebook in order to promote civic participation throughout t

beast has 2.5 million followers on facebook.beast's family name is beast zuckerberg. >> oh. >> yes, beast zuckerberg is part of that family. social media royalty. as you can see from the videos they share, they figured that love knows no barriers and they basically put their proposal out. they poked him. they are looking for a friend

facebook can still win this one.y works. >>> we want to correct something that was said last night on this program in referring to twitter ceo of $7 million worth of stock. we also noted that dorsey had sold 125 million shares worth of stock in may of 2016. that was not correct. he did not sell those shares. he, in fact, gifted those shares back to his employees. we regret the error and promise to do better for you guys out there. >>> still ahead, stress is on the rise for americans as politics reaches a fever pitch. there is one way to profit from the trauma. meg turrell is here with a special report. >>> plus one oil stock that investors are betting is about to drop big time. we'll give you the name when "fast money" returns. ay, whata . danointo disc spsie whsie now. in thi. e founsc srtstoo . holdet me asyothis.. at'sheon like x montm now? holdet me asyothis.. whdo we ha orial ke?ntm now? steve. eve. and alis. stevuh, nojust steve. just se eve. j businesower by sap. , i'm frk.i tifooic, you sile♪ io-induced cstip

facebook town hall this afternoon at two. post your questions on his facebook page right now. governor wolf says he wants to move pennsylvania forward and focus on families. we want you to join the conversation. what would you tell the governor and lawmakers about the budget battle and which programs should receive more funding. each out to us on twitter or facebook. >>> seven candidates trying to become philadelphia's next district attorney. his former number two, shabazz, made his candidacy official yesterday asking his voters to judge him by the accomplishments

it is not a concern to the average facebook user.y they want to be entertained and diverted, and they are. i do think facebook is taking the issue seriously. i think you will see them taking more and more measures to try to avoid seeming to compound the partisanship that is so big a problem in so many societies around the world. the problem is they are so global and operating in so many languages that this problem is global, even the russian interference in the media, so it is not going to be that easy for facebook to get a grip on this right away. i think on oculus, i think oculus is looking like something they overpaid for. unlike instagram on which they got a spectacular deal. palmer lucky who may take some of the blame for this lawsuit loss, also some embarrassing behavior around politics. it may be that they are regretting their association with him. on the other hand, they have brought hugo barra in to take over oculus. i think he will be a great leader for that part of the company. caroline: coming up, tech mobilizes against t

facebook last year grew over 50% on a $28 billion revenue base.n grew 27% on a $130 billion revenue base. they are taking revenues away from other businesses, disrupting, and that puts businesses in a place where they have to think about strategic options carefully. we will see consolidation in the tech space, and activity levels will continue to be high this year if the environment stays the way it is now. it will be a relatively good m&a year. caroline: let's talk about fintec. lloyd blankfein said goldman sachs is a technology company. are you hiring more technologists and engineers than bankers? >> we clearly are using technology and our business more than we would 15 years ago. it is easy to go look at the equity trading business 15 years ago. it was voice to voice, person to person, and now there is a fast system of connectivity and people trade equities electronically, so that is a massive shift in the people and systems you need. that is going on in most aspects of the business. the firm adapt to those environments, and we have a diverse w

will facebook appeal? yes. facebook has said they will appeal.eased that the juryfound in they said they are pleased that the jury found in their favour, they said they are pleased that the jury found in theirfavour, or they said they are pleased that the jury found in their favour, or they could have seen damages of around $2 billion, that is what was asked for. all the same, they are not happy about $500 million. they say the success of 0culus is because of what facebook put into it, so they will appeal the decision. facebook put into it, so they will appealthe decision. it facebook put into it, so they will appeal the decision. it doesn't seem to have harmed facebook‘s numbers. absolutely not. that fine is a drop in the ocean. they said their profits last year rose to ten pointud billion —— ten pointud billion dollars. clearly facebook is riding high. this fine, while embarrassing, isn't causing a problem to their business. embarrassing, isn't causing a problem to their businessm embarrassing, isn't causing a problem to their business. it is a

emily: facebook bought instagram for about $1 billion. year later, citigroup valued it at $35 billion. did you ever think, what did i just do? kevin: no, no. every entrepreneur measures value on impact, or at least i think so. when you talk to mark, he gave away 99% of his wealth. we are not in this business to make money, we are in this game to change the world. if you talk to entrepreneurs who matter, they all measure value based on what did we just do for the world? did we unlock some kind of value? that is what mike and i focus on every single day. emily: when mark zuckerberg bought your company, he pledged to let you work independently. has he lived up to that? kevin: mark has been true to his word and then some. his involvement in the company is through meetings with me. i have learned a tremendous ournt from him about transition to advertising, about the global community, strategy, he is one of the most long-term strategic thinkers i have ever met. think of it like having the best board member in the world. imagine how many compani

formal facebook dine out on it?avid: i do not think they are copying snapchat, i think there are things they have borrowed. and it has been acknowledged by instagram and others. i think the comparison between the two companies goes only so far. facebook when it went public had the potential to become a world altering service used by almost literally everyone. unless you believe that is true of snapchat, you cannot justify this kind of valuation. i do not think you can justify that kind of talk about snapchat. it does not have, in my opinion it is -- in its current design, the appeal to our parents, children of all ages, ordinary, working people. it does not have that capability. it is not a true comparison. cory: when you talk about the voting rights issues, there are issues you see right now in this company where it careful steward of money might say, why are we spending this money on personal security for the ceo? and investors might say, i would like a vote on these things. you are taking it away. caroline: we wi

of facebook.- you are a man who knows the inner workings of facebook. is the competition that fears? -- is the competition that fie rce? >> i don't think they are copying snapchat worr. you know, the comparison between the two companies only goes so far. facebook, when it went public, clearly had the potential to become a world altering service that was used by almost everyone. in less you believe that is true of snapchat, you almost can't justify this kind of evaluation. i frankly don't think you can't justify that kind of talk about snapchat. it does not cap, in my opinion, the potential appeal to our ages,s, children of all ordinary working people. it does not have that kind of capability. it is not a true comparison. ♪ the road next up, show. management will travel to cities including los angeles, san francisco, and new york. deciding whether or not to put money into snap, investors are want to compare the company to its peers, facebook and twitter. what are they hoping to equate them to? neit

that was shot by kate hughes on facebook earlier today. coming up in a minute, author william doherty talking about his book in the shadow of the ayatollah, booktv live coverage will continue in just a second. >> look at some authors recently featured on booktv's afterwards with our weekly author interview program. melissa fleming, chief spokesperson for the united nations high commissioner for refugees reported on a syrian woman's attempt to flee her country. radio host hugh hewitt how republicans can leave america out of political gridlock and alfred university philosophy professor west a cot explored why frugality may be the key to happiness. in the coming weeks on afterwards the parents of trayvon martin, sabrina fulton and tracy martin, discuss this done's life-and-death as well as their experiences for the judicial system. other and journalist cynthia littleton reflect on the founding fathers calls for a unified america. council on foreign relations president richard haas for the challenges facing us foreign policy. of this morning p

facebook has been promoting participation since 2008. how many of you here use facebook? just wanted to make sure i can calibrate the fermnology. at the top of the news feed is where we provide these reminders on election day and these give you the ability both to look up official information such as polling locations et cetera and also powerfully share that you yourself are a voter. so that's been happening since 2008. we've been doing it in countries across the world. i think they're up to something like 47 countries since 2008. but this year, we wanted to help people navigate the entire process of voting, so we did a comprehensive series of product work within facebook. in order to promote participation throughout the cycle. it started for example with similar reminders to ledregisteo vote that were state specific with deadlines. we also helped people on the more knowledgeable voter side access ballot information. sample ballot information. so they could see who were the people who are going to be on their ballot and also learn about more a about those candidates. then