with me roger mcnamee from elevation parters, an early investor in facebook and an early mentor to mark zuckerberg. good to have you here. could i read part of the letter that they wrote. if these rorpts are accurate, we are witnessing an ongoing attack by the russian government through kremlin-linked social media act kbrors directly acting to intervene and influence our democratic process. do you find it at all surprising if, indeed, they are trying to influence the mueller investigation? >> no i think that is exactly this is what we feared. my small team and i got involved in this thing in part because facebook's initial reaction was that this was a one-time event. it would never happen again. and our fear was that what the russians were really doing is being -- using the tools of facebook exactly as they are being designed to be used and until somebody tops them, they will keep doing it. and the example is right in front of your eyes. it didn't stop in 2016, it is going on through today and it will continue through this election and future ones. >> and is it not just going on, but ar

roger mcnamee argues that facebook has prioritized advertisers and not protected users. e drowning in evidence that there are costs society may not be able to afford. >>> in a new year's pledge zuckerberg admits facebook has a lot of work to do this year. there are false news articles that could reach more than 2 billion monthly active uhers. roger mcnamee is managing director of the private equity firm managing partners. he still holds a post with facebook. >> it's one of these really sad things. i feel like jimmy stewart character in an alfred hitchcock movie. i spent years helping to build this company. when i first met mark, they were having an existential crisis. i was asked to go in and meet with the boss. he couldn't tell me why. i sit down with him. i'm closer to him and that i am to you. remember t company's two years old. he's two years old. i said, mark, if it hasn't happened, microsoft or yahoo! is going to try to buy you. everyone is going to take it. i'm telle you you have one of the greatest opportunities i've ever seen. don't take it. build the kpaechlt i

against the social networking giant's current business model from one of its earliest investors, roger mcnameeook on the role of one of zuckerberg's mentors and helped recruit sheryl sandberg. the company went public two years later. he first noticed bad actors manipulating facebook in early 2016 and contacted zuckerberg and sanders before the election. roger joins me now, still a facebook investor and capital firm elevation. thank you for being here. >> always a pleasure. >> you've written a series of op-eds in a couple weeks steps you've called on facebook to undertake. you want the company to admit that its algorithm invites manipulation by bad actors. that is an important one. >> it's really, really important. and it comes to the following thing. that the company was manipulated by the russians during the 2016 election, and the very thing that the russians did was not a hack. it was just using the product the way it was designed for advertisers. they just put it to a bad purpose. >> this is important. the russians have been accused of hacking all over the place. but the use of social media

and roger mcname good morning to you both so to bertha's point, i mean, sounds like they want to drillown and get a true baseline for what these services cost >> i think the really important part of this is when you go to a single payer model like this you have a chance to go after all of the overheads. bureaucracy is where the -- >> zero budgeting somehow. >> you look at it and realize we have layer upon layer of things designed to take costs out and the cost associated with the guys taking the cost out is become a huge part of our total expense. and so i look at this and i go knees are three companies that are in the top six, three of the top six in the fortune -- in the s&p 500500 and they have 1,100,000 employees in total so when they speak, it's going to carry a lot of weight to me, health care is just out of control in the country. it's too big a part of the economy. we delivered low quality health care benefits relative to the rest of the world. our best outcomes are the best in the world but our average outcomes are not actually that good and i don't know how long it takes to d

outsource that responsibility joining us at post 9 this morning, elevation partners cofounder roger mcnamee scott galloway, professor at the stern school of business happy monday good to see you both what an interesting turn this is, roger. what responsibility does apple have to how my kids might use a phone? >> quite honestly, they have a lot. the culture of silicon valley has been about disruption for so long that people have forgotten there are consequences to disruption, and at the scale that the tech guys are at now, they have to take some responsibility now, apple in this case, i think, is nowhere near the worst offender in fact, they've been doing really good things for example, stopping auto play in the operating system, which is a direct shot at this very issue. they did that without any public pressure at all, so i actually think, yes, apple has responsibility, but they are one of the good guys in our scenario i look at this -- we've been working with common sense media, which is the ngo that does children and media, and so we've been trying to figure out who are the best and wors

i think roger mcnamee spoke to it, they view it as personal relations, not business problems. >>> we'll talk about why north and south korea -- have you heard this -- are going to be marching under a united flag at the olympic games. wow. that's next. hi...so i just got off the phone with our allstate agent, and i know that we have accident forgiveness. so the incredibly minor accident that i had tonight- four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it. every day we hear from families who partnered with a senior living advisor from a place for mom to help find the perfect place for their mom or dad thank you so much for your assistance in helping us find a place. mom feels safe and comfortable and has met many wonderful residence and staffers. thank you for helping our family find our father a new home. we especially appreciate the information about the va aid and attendance program. i feel i found the right place. a perfect fit. you were my angel and helped guide me every

i'm joined by an early investor anne zuckerberg's former mentor roger mcnamee. how are you?i think this is important not because of facebook in theory but because this is play the form and utility where democracy hits the road. where americans are actually learning or being misinformed. your view, hold on. you got to wait. your view on whether this is a good start or they're starting out the wrong way. >> i'm glad he's doing something. i don't think this is going to help at all. >> you don't think this helps? >> not at all. i think the perverse thing is had they implemented this had in 2015, the russian interference to our election almost certainly would have been worse because the role that groups and friends played in amplifying the messages, the role that fake humans whether they were bots or russian trolls played in people's sources of information, those things will not be affected by this. i'm really glad that mark is stepping up and recognizing we have a problem. the difficulty is we have an election coming in ten months. >> so let's slow down. you do give zuckerberg w

roger mcnamee, one of facebook's early investors, told "cbs this morning" facebook's problems are morel to fear and anger because those are the things that motivate you, engage you. >> reporter: other silicon valley companies are facing similar scrutiny. youtube and twitter have been allowing harassment and disturbing content on their worry its products are addicti going to be a period of reflection for all of these large tech companies to really assess if what they're built is on balance good for theworld. >> facebook did not respond to our request for comment regarding murdoch's suggestion the social media pla should pay trustworthy news sources for their content. in his blog post samidh chakrabarti also said social media enables people to live in echo chambers. when exposed to opposing views, they tend to dig in. >> that's right. we have to get ourselves out of the echo chambers facebook can't do it for us. >> meaning we just read people who agree with our biases and opinions. >> people challenging us. great. thanks. >>> neil diamond, a recording star for more than 50 years, says he

ahead, roger mcnamee will be here with his plan on how to fix facebook.g." there'... more adventure,ere you can get... more woo-hoo! more magic and more happy. so now come to the disneyland resort and get... more happy >>> prince harry and his fiance meghan markle went on their second official royal outing together. they visits a radio station for young people yesterday. it's in a multicultural neighborhood of brikston in south london. charlie d'agata was there as hundreds of well-wishers welcomed the royal couple. >> reporter: that famous british reserve was nowhere to be seen on the streets of brickston, south london, especially when prince harry asked fiance meghan markle to turn to the crowd. inside he was just as charming. >> why did you want to come out? >> i came out and found out about it so i decided to step around and have a look. >> reporter: but this wasn't justing making an inner city public appearance. prince harry and meghan markle are here to show their support for a program that aims to help those struggling with mental health issues and

ç and yesterday we spoke with roger mcnamee from elevation partners here's what he said about apple.t everybody should pay attention to. they have done great things to protect consumers. the largest market cap of any stock and the world. i think what they're doing is absolutely brilliant. $900billion market cap. that's incredible. is everybody ready to go all in on apple anymore.ç i continue to look back. there was a perennial on the list. that was even before the latest stuff. we will see if they are on the list next year. i hundred 25-year-old company. it was shocking. above facebook which american views constantly. they haven't made the headlines for the wrong reasons. i think people really admire what they do. set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. >>> maria: welcome back. good friday morning. thanks for joining this is morning. i'm maria bartiromo.

economy, legendaries investor roger mcnam mcnamee wade in i think ap everybody as many today paengs toany company today they are one check in our economy, on google on facebook, they have done some great things to protect consumers, and importantly, i think they are undervalued even though the largest cap market cap any of stock in the world. i think what they're doing is absolutely brilliant. >> pretty big statement futures this morning, indicating mixed openly dow industrials heading to momentum up 20 points right now on top of 300 plus point rally yesterday s&p 500, nasdaq fractionally lower this morning, breaking news on economy housing starts declining more than expected last month, the housing numbers out five minutes ago in europe major indices like this european averages mostly lower ft 100 down almost a half a percent cac quarante in paris down a fraction dax in german up almost half a% 63 points higher in asia overnight stocks closed mostly higher, a sign of trenning for china, the country economy grew 6.9% last year first full year growth pickup since 2010, bitcoin bounces b