to you, melissa >> thank you, bob pisani should we expect even crazier price swings for bitcoin roger mcnamee is the co-founder of elevation partners. roger, good to see you >> great to see you, melissa >> you think it will be even more volatile? why? >> i sure hope so. the entertainment value alone is really something that can't be beat in the current environment. you look at bitcoin, and the thing that i would observe here, as bob said, it's still a very small market in the context of the larger financial world but it has had a huge year we've done it around a speculative mania. the thing that people forget is that if a mania goss es on long enough, it becomes self fulfilling we've seen that with the internet bubble. we've seen that over and over in american history if you're a bull on bitcoin, the thing you're hoping for is it does exactly what bob suggested, it has another big run in '18, gets it to a level where it becomes important enough that people care and they start to have appropriate regulation. >> there's a lot of venture money going into bitcoin-related companies, whether they b

roger mcnamee, mike isaac, thanks, guys >>> stocks basically flat this morning, dow is holding on togains and the s&p up on a percentage basis "squawk alley" will continue after this feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. and the wolf huffed like you do sometimes, grandpa? well, when you have copd, it can be hard to breathe. it can be hard to get air out, which can make it hard to get air in. so i talked to my doctor. she said... symbicort could help you breathe better, starting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. symbicort helps provide significant improvement of your lung function. symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort contains formoterol. medicines like formoterol increase the risk of death from asthma problems.

joining me now is veteran tech investor roger mcnamee, the founder of elevation.book. >> yes. >> and you pointed something out to me once some months ago and that is that none of this troubles facebook largely because this is what it was designed to do. it was designed to make you spend more time on it. >> originally. the original strategy was based on this notion of we want more and more of your attention. so it's about share of attention. they want to addict you to the -- >> which they've done well. >> they've done masterfully and they have a huge advantage. as you know, each person gets an individualized channel. so the program is as though you had 2 billion telephone networks, each one optimized, and a smartphone. so the same device 18 hours a day. people are absorbing facebook in places you never took in media before. >> that is correct, by definition. >> their economics are increased by dugetting people not only hooked but emotionally engaged. >> this is the point. this is masterful public relations on facebook's part because they've acknowledged there's cle

number of -- several, i should say, investors who have called out facebook we also heard from roger mcnameeo had similar concerns this is really something that facebook really wants to get on top of and make clear that he's not been part of the organization for quite some time >> that's understood, julia, thank you for that julia boorstin scott, essentially he's saying the truth is for sale, is he not? that's essentially the core of his message. >> yeah, but it appears our society that if you stay alive, you repeat a lie over and over, becomes less of a lie and i think this is probably true across different mediums we've never seen mediums this good at it when you have bots and you have -- facebook is probably guilty of giving credibility to fake news when they put legitimate news next to it, and when you have effectively the most powerful media company in the world, and let's be clear, there's never been a company more of a media company than facebook, when it can be weaponized for people paying with rubles, there's serious conversations that need to be had. i'm almost -- >> any better whe

burning investors again today, falling nearly 10%, back below 14 grand legendary tech investor roger mcnameeatic price swings are far from over >>> next, apple apologizing for its battery issues just moments ago and lowering the