roger mcnamee says the worst is not over for the social media giant but he still likes the stock. we are live from times sare quin new york city. much more "fast money" right after this (birds tweeting) this is not a cloud. this is a tomato tracked from farm to table on a blockchain, helping keep shoppers safe. is il transaction secure from hacks and threats others can't see. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know. this is the ibm cloud. the ibm cloud is the cloud for smarter business. ♪ ♪ >>> welcome back to "fast money. apple hitting an all-time high as its worldwide developers conference kicks off josh lipton out in san jose with all the details. >> apple ceo tim cook on stage right behind me here reminding developers just how much they earn how through his app store take a listen. >> this week we're going to achieve another huge milestone the money that developers have earned through the app store will top $100 billion. the app store is clearly the best place for you to be re

verizon might buy, we're joined by walter isaacson, advisory partner and former chairman of cnn, and roger mcnameen set, elevation partners co-founder and early facebook investor. what a day, we will begin walter, i guess, are you -- do you applaud judge leon's decision did you expect it this way >> i expected it this way because you and jon fortt both said it on the show a few times when i was on, that vertical integrations are not something that would be stopped, and you turned out to be right i think it makes sense is a huge tectonic shift we're seeing with multiple converging forces. at parela wineberg where i work we have the disruption lab and you see this in media and telecommunications with the fact that we will have more vertical integration, a lot of mergers, of people who have content and distribution, that's why comcast will be going in for the fox assets you also see other things happening, including comcast being out from under the behaval remedies it had to agree to when it did its universal merger. also, you have the end of net neutrality happening and we're moving into a world in

hour a lot going on joining us on set elevation partners co-founder and early facebook investor roger mcnameea loto get to with roger today. we will begin with facebook the social network under fire again after disclosing data sharing partnerships with at least four chinese firms including huawei a chinese mobile phone company u.s. intelligence officis have identified as a national security threat. actually, a lot of facebook headlines today. there's the huawei and data sharing, news on insta and video, deep dive on what'sapp and the riff between the founders and zuckerberg. the data sharing what does it mean to you, knowing where we've been on the story? >> as investors i think we have to take a couple issues away the first is that facebook's lack of transparency relative to its business practices is in conflict with the politics of being as big as they are and it's produced this drip, drip, drip of revelations for stuff going on for years aeir wo and honest about it is going to be a political problem for them and a stock problem. >> this one i don't get. i mean, when you enable these apps o

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thank you, michelle caruso-cabrera so for more on what the real world impact will be, we have roger mcnameeoins us alongside t.j. rogers. welcome to the both. there's a lot of focus on tech obviously the nasdaq in particular is weak here today. but what do you think is the outcome of these announcements or the announcements we did not get from the white house so far this week? >> so the ones we haven't got are the ones i want to focus on. there is a growing sentiment that data is the new oil which means that it's going to be the place where nation states compete. and it'll be something that, you know, the united states has some catch-up to do we are the world's leader in technology but i think we weren't paying attention when the idea of day is -- data took hold i think they took advantage of our coordination for the country to have a coherent strategy that covers all aspects of technology and above all not try to do it from the really weakened position of a country involved in a trade war, that i think just makes everything a lot more complicated. >> t.j., to what extent is the u.s. still

hour a lot going on joining us on set elevation partners co-founder and early facebook investor roger mcnameeth roger today. we will begin with facebook the social network under fire again after disclosing data sharing partnerships with at least four chinese firms including huawei a chinese mobile phone com

zuckerberg, early investor in facebook and managing director and co-founder of elevation partners, roger mctha mcnameeced concerns over facebook and the business model. how do you feel about the response from facebook? where are we now on this issue? >> we're nowhere near the end, unfortunately. the company had this model for years called move fast and break things. the notion was don't let anything get in the way of growth. the reality is it was really move fast, break things, apologize and then move on as though nothing has happened. and that's really where mark is now. he's apologizing because every rock we turn over has another scandal hidden underneath it. this one in china, we don't know exactly how bad it is. what we know, though, is that facebook was not monitoring these companies. and if the defense department is telling us they won't buy huawei products because they're afraid of bugging and hacking, i think we have to be concerned that huawei with 10 years or whatever of control of facebook user accounts is going to have had the opportunity to download all that data. >> maria: i think this i