manoj narang is ceo and founder of tradeworx, ted roden is ceo of kkm financial.hank you for being here. pleasure to see you. manoj, let me start with you, how would you describe in its basic form what high frequency trading is? >> when most people want to do a trade, the only institution that they see or are aware of that they're interacting with is their broker, okay. so typical example is i'll trade in my personal td ameritrade account, and that broker will take that order and because it's a member of an exchange, tell route that order to the exchange. that's all people are used to seeing. behind the scenes, the fact that the order went to an exchange doesn't cause the trade to happen. there has to be somebody to take the other side. so now there's an industry of people who compete on a level playing field basis using information that is widely available to everybody who sit there and provide these quotes that are ready for anybody to transact against. that's called liquidity. these are orders that are sitting in the exchanges waiting for you to transact either

this is the roden crater in the painted desert of arizona. here artist james turrell has turned back to the earth for his inspiration. for the modern viewer to experience this work of art will be something of an act of pilgrimage. when you come in, you won't come over the top of the crater. you'll come through a 1,400-foot-long tunnel lined with the blue clay sand navajos use for their art. the tunnel will line up with the sun at every equinox, with the moon every 18 years, and the other viewing platforms will also be lined up with the planets, like the monuments of the ancient world, designed to take you out of yourself. out here, above the immensity f the painted desert, with volcanic cones stretching away to the horizon, is the very image of geological rather than human time, and yet what turrell is trying to do up here is literally reshape nature with human hands. he's transforming this crater into a perfect circle so that the modern visitor may come here and in this silence and solitude, take in the clear sky of the north arizona desert

. >> out front retired captain paul roden. talking about the renovations, low fuel levels, cargo, which is unclear whether it exceeded the limit or not because of the breakdown. does this add up in your mind to this is why the ferry sank? >> yes. hi, erin. thank you. it does add up. i think you all covered it quite well. in designing a ship like this, a naval architect will use analysis and stability criteria to ensure to a high degree of probability that the ship will be operated safely. things can interfere with that, such as if the ship is not loaded, according to the stability plan or the loading plan, or if there are compounding factors that would impact the ship. for example, the ship is going to be designed to sustain threats such as icing or rushing of passengers to one side, or even a high speed turn. however, when you compound these factors, that is when you can potentially run into danger. >> so when you hear about a renovation, just take that alone, right, where you see the before and after. all of the sudden there

becky quick spoke to tech entrepreneurs fancy hands founder ted roden and fibrous ceo miha kaufman on the new gig economy. >> very quickly, tell people exactly what it is. fancy hands. start off with that sglp fancy hands is a personal assistant service. for a flat fee per month we will do anything that can be done from a desk for you. >> call my cable company, make sure you change something there. put an order in for a car or for an airplane ticket. >> exactly. yes. >> what's the flat fee? >> it starts at $25 per month. >> not bad. tell us a bit about fiber. >> it is basically ebay for services. it allows people to offer their skills in the form of products to a global audience and the prices go between $5 and thousands of dollars. >> what's something people would do for $5 for me? >> well, usually it is very basic services. it could be personalized greeting card. it could be translation of a short paragraph or could be a small graphic design work. >> let me ask you both this. who is signing up to do this kind of work? are these people who have other jobs? are these people who can't

paul roden is the former chief naval engineer for the coast guard. >> i suspected the ship had damage on the port side, the left-hand side of the ship and that caused flooding which caused the ship too heel over. >> reporter: even a massive ship can sink fast. this freighter, flooded on purpose, went down within moments. in 1991 the oceanos cruise ship was sinking for a day. abc news was there for its final moments. if survivors are in the water, a large quickly sinking ship can suck them into the water, forcing them to fight back to the surface. off south korea, if it struck a rock and breached its hull, water could start pouring in from one compartment to another tipping the vessel. then its stern sinking. soon only the tip of the bow visible. the ferry up side down in the water. it's the water rushing into the ship with force that makes escape nearly impossible. if they jumped, it was 25 feet from the upper deck into the waters. >> you wouldn't want to jump unless you knew it was going to sink or you had a place to go in the water, life rafts. >> some made that leap. many others ma

captain paul roden is former chief naval engineer for the coast guard. >> i suspected the ship had damageport side of the ship, and that caused flooding which caused the ship to keel over. >> reporter: even this ship can sink frighteningly fast. in 1991, the oceania cruise ship was sinking for a day. but abc news was there for the final few moments. if survivors are in the water, a sinking ship can suck them under the water, forcing them to get back to the surface. off south korea, the sewol was reportedly in a rocky area. if it struck a rock and breached the hull water could start pouring in from one compartment to another tipping the vessel, then its stern sinking. soon, only the top of the bow visibility. the ferry upside down in the water. it's the water's incredible rushing force that makes escape nearly impossible. if they jumped, 25 feet from the upper deck into the chilly waters. >> you wouldn't want to jump unless you knew it was sinking or you had a place to go in the water, like a life raft. many made the leap, others may have. david kerley, abc news, washington. >>> high stake

to discuss the fallout, william roden, author of "forty million dollar slaves." dave, i'll start with you. the league could fine sterling and forbes says he's worth $1.5 billion. what else can they do? you've seen the precedent on this. >> this is an unprecedented act that calls for an unprecedented response. as long as he's a partner of the 29 other owners his views in fact who they are and they must be made to feel the consequences of his conduct, his comments and conduct. sterling got it wrong when he said he feeds them and buys them homes. this is the first time in my memory that he's had a team relevant in the offseason -- postseason. consequently, his mediocrity, he lived off the lebron james and kobe bryant and magic johnson and patrick ewing throughout the league through revenue sharing. he's delusional. not only do they reflect vile ignorance he's delusional how he should make his money. they should find a way to force him to sell the team. until they do, not only should sterling feel the consequences but the 29 other owners must as well. >> strong words