here are two names from the not-so-distant past, sean parker and shawn fanning. rly took down the funding structure of the modern music industry as we know it with napster, the file-sharing service. then parker got in on the ground floor of facebook. now these two friends say they've seen the future again. savannah guthrie reports on the next thing to come from sean and shawn. >> i'm sean parker. >> how do you do? >> reporter: you just might think of sean parker as this guy. >> i founded napster. >> sean parker founded napster. >> nice to meet you. >> reporter: the flashy net entrepreneur played by justin timberlake in "the social network," the blockbuster film about facebook's early days. >> just facebook. >> reporter: this is the real sean parker. justin timberlake plays a sean parker who is greedy, slick, manipulative, betrays a friend. >> that character in the film is a bad person. i mean, i'm appalled watching -- watching the film. and i'm appalled by his character's behavior. >> reporter: you come across by a jerk. >> that casualty was a jerk. >> reporter: p

plus more with sean parker.ng to find out what is grabbing sean parker's attention and where he is looking to invest next, too. squawk will be back. should be putting your money. >> how do you feel about it right now? >> my views haven't changed. from my first call in october, it higher. it's probably 300, 400 points lower than the february numbers. it just gets back to my whole idea on longevity and building a nest egg for retirement. you're not going to ever achieve the necessary pool of money that you need buying bonds. if you're 35 years old and frightened of the world and sitting in 1.5% bond, the compounding is so important earl on to build the nest egg. we have to start focusing on objective investing and objective investing is focusing on building that nest egg. on a relative basis, stocks are much cheaper than bonds and i'm not suggesting stocks can't go done if europe blows up. i want to focus our investors on the idea of investing for the long term, the difficult depend rates of stock are substantiall

give it up for sean parker and shawn fanning, everybody!how. i've seen you before, sean parker, but both of you guys together -- you guys traded napster. that was a giant, giant thing. and how old were you guys when you created that? >> well, i was 18. >> we were basically children. >> yeah. >> jimmy: basically -- yeah, 18 years old. and how did you meet? how did you just get together? you didn't live by each other, right? >> we actually met on the internet. [ light laughter ] as creepy and weird as that may sound. >> jimmy: no -- what do you mean? so, you met -- what do you mean? like on chat rooms and stuff? >> yeah, there was a time when being on a chat room wasn't about asl and trying to, you know, find a date. we were actually -- we met through internet security which is -- one way of saying hacking. [ laughter ] >> jimmy: that's one way of saying it. i guess so, yeah. >> otherwise known as the computer -- >> jimmy: yeah, yeah. so, you met -- you were both hackers. >> yeah. >> pretty much. [ laughter ] >> jimmy: you're both hackers. yo

. >>> meantime, napster co-founder sean parker making his first public comments on facebook followings ipo. kayla tausche joins us now with what mr. parker said. i presume it wasn't -- a million is not cool. you know what's cool? a billion. >> right now its market cap is 56 billion. details, details. sean parker was in new york city launching his new product air time which he's actually launching with his napster partner in crime, shawn fanning. but we asked him, there's an analyst on cnbc recently who said in five years' time, facebook won't exist. it will be whittled down to nothing. here is how he answered that question. >> analysts have been predicting the demise of facebook since -- you know, since very early days. you know, there were these predecessors like friendster and myspace that seemed like fads but failed for reasons that had nothing to do with culture. they had to do with technology. facebook is such a basic utility. it's something that is such a part of people's lives. i think it's hard to imagine it going away. >> now, parker said that he sold a minimal number of shar

up next, what does former facebook president sean parker think about the facebook network's falling stockce. we'll ask him and talk to parker and his business partner about their new online venture. [ male announcer ] and now, another newtonism. being the apple of someone's eye is easier with cinnamon. ♪ new apple cinnamon newtons fruit thins. made with real fruit and whole grain. it's one unique cookie. made with only milk... cream... a touch of sugar... and pure natural flavors. coffee-mate natural bliss. from nestle. add your flavor naturally. that's why new dove style + care frizz free cream serum nourishes and conditions, keeping hair smooth shiny and free from flyaways. new dove style + care frizz free cream serum. better style through better care. softens the enamel so it can potentially erode. once that enamel is gone, it's gone. my dentist recommended pronamel. pronamel protects your teeth from the effects of acid erosion. i don't have to cut out the things that i love in my diet. i knew it'd be tough on our retirement savings, especially in this economy. but with three kids, bei

sean parker the silicon valley entrepreneur that invented monster and was an early believer and investor in facebook? he has been working on a much buzz about application called air time. air time is now public and anyone can use it for free. it is a real-time video chat network that integrates a deeply into facebook. it is web based. you do not have to download a separate application. most importantly it relies on facebook social information about you. it is connected into identities people are already using online. one of its primary missions is to help people share things socially through video chat. for example if you want to show some and a video, he completed video on a third screen in air time and both of you can watch at the same time. they also want to help you make new friends. they know your interest to connect to fox with people that if the do and did not know. >>justine: we will take a quick break on this wednesday morning. here is a live look outside from the camera showing us what is happening along the approach to the bay bridge. we'll recap the elections results right af

now on to him or who incentive how hohokam martha of sean parker has hurricane on a new application calledis now public and anyone can use it for free. kohen hot as live look at our hide temperatures tomorrow 78 in sunnyvale, a 73 in san jose. 72 and milpitas. the inland valleys woman even hit the low eating a kuchen the forecast oman tomorrow and even more into thursday. on friday, extensive fog. into the weekend the fall go the way. >>grant: here's the kron4 crime tracker in in the south bay. here is the area we're talking about. the red dots represent the crimes. some vehicles are being stolen overnight, some are being stolen during the day. >>stanley: this is a large piece of land in san jose that has signed late this hosted all-around. there is a large gaping hole cut into the chain-link fence. it is an area that has running water and a lot of green vegetation as far as the eye can see here while this is not a wild animal, there are some that live in this heavily wooded area. tonight at hdmi will show you what else you'll find if you happen to visit this wilderness and why it is slate

in real life it's sean parker. he was in new york yesterday. appearances by snoop dogg. but big on fizzle, too. alison kosik is cojoining us to explain what happened. >> you said it, suzanne. there were tons of big stars at this event, olivia mund, jimmy fallon, and alicia keys and for sean parker and sean fanning, they haven't done anything this big since they created napster together. what air time does is what chat roulette does, which randomly matches up strangers. listen to what parker says about what makes this unique. >> so it's the only live video chat product fully integrated with facebook, that allows you to chat with any of your friends and also experience video with them. so i can share a video and we're both watching it together and i can watch my friend's reaction to it. >> okay. so as for the fizzle, there were a lot of tech problems at this event. many called it a complete disaster meaning the rollout. these celebs were trying to test it out but they weren't able to connect. the thing wouldn't work. they had to fall back on a vi

. >> sean parker launching his latest venture called air time.got to talk about facebook with him. he's not as worried as some other people think. take a listen. >> everybody is predicting the demise of facebook since the very early days. you know, there were these predecessors like myspace that seemed like fads but failed for reasons that had nothing to do with culture, they had to do with technology. facebook is such a basic utility. it's something that is such a part of people's lives. it's hard to imagine it going away. there's almost a sense of relief with the ipo. there was such a speculative market around facebook shares particularly around the retail investor. the fact that that's no longer an issue for the company is a good thing. eventually you want the stock to stabilize and you basically want to have a large of institutions that take a long view. all the founders of the company, employees of the company have taken a long view. we've sold minimal to no shares over essentially eight year life of the company. so, you know, i think at the

even facebook backer sean parker tweeted, i have a whole new set of problems to deal with now.tion attempts, kidnapping threats, death threats, et cetera. he asks, was life better before? experts say the global 1% is casting a wary eye on social instability. in fact, a recent survey found there is concern about class conflict. so there is something to be worried about? >> yes. >> brian says a small minority in his group should make billionaire understand easy. >> i would prefer it never come to that. people are tired of feeling like they are stepped on and don't matter. >> larry, a lot of security folks said it is not the occupy movement which is itself nonviolent but some of the extremists on the wings of the movement excit by the rhetoric you see in this political moment we are in now in america. those are the people they want to keep an eye on. the mentally unstable people on the fringes of any movement are the ones who could be most dangerous. >> a thought occurred to me watching this. is there an anarchist aspect to this? there are people on the far left who hate well-to-d

like airtime, which was started by sean fanning and sean parker. >> david, we're going to leave it thereor your time. we appreciate it. david lee of sv angel. i know you use airtime. >> all the time. >> and war v. parker all the time. very important. >> listen, you know -- in all seriousness, everyone comes on and talks about the facebook valuation, twitter valuation, they talk about the social aspect in connecting you and i. it comes down to earnings and it comes down to monetizing the product and tell me how are you going to monetize it? that's where i was going with my question. you have $20 being illion in ad. how are you going to slice up the pie and earn money in. >>> coming up next, the moment we've been eagerly awaiting for all show long. three short minutes tim seymour will reveal what is behind the curtain. it's a rocking treat as you see there. lots of similarities. >> that's so uncanny. >> stay tuned for the trade. that's next. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in

sean parker will be announcing today that will be integrated with facebook. >> where did you see him? >> is this the kid thing? >> it's not. >> they're so some kind of media blitz. >> hopefully with us later this week. >> somewhere else on the web i thought they were appearing somewhere. >> today they're announcing they're launching this thing midday today. speaking of facebook, take a look at hatheir shares. pauls 3%. now down officially 29% from the ipo price of $38. >> among the other stories that we're watching today, wisconsin holds that recall election today pits governor walker against the mayor of milwaukee. a rematch of the 2010 governor's race. the efforts have shattered state campaign spending records. a watershed election because if walker were to prevail, people say the unions don't have the -- public unions don't have the m same shank gel hold thtranglehod on. >> a line in the sand about how we feel about things in the country. >> in trade has been above 90 for week. but barrett's own polling will-if i'm ever in an election, i'm going to do my own polls. but he says othe

. >> we had sean parker on last week, behind napster and now has a new product and spotify.hat is economical, that is going to work? is there something on the horizon? >> i'm not sure about any model that i would endorse. i like the idea of subscription, but i'm a purist. i know what it meant for me to put on headphones as a boy and hold that album sleeve. i was really dead set against the artwork getting to be this big on my cd and now gone. album and lyrics and the imagination really played a big part. >> what will you listen to as you're leaving here, just all about jon bon jovi? >> no. >> are there bands you listen to? >> i listen to new and old. >> who do you like that's new? >> i don't know, there are new bands that i do like a lot and there's unsigned bands and ways for kids to go about getting record deals today and breaking the model that i came up in 30 years ago. there are ways through youtube and through independent releases and there are ways for the next bob dylan to be found. >> are you treading on country at all in the new album? >> a couple songs could cross

sean parker, our good friend, mark andresen and ben horowitz. he will talk about this, he was mark zuckerberg's roommate at harvard. we've got a lot to talk about. let me just talk about what this product does. what does nation builder do? >> yeah. thanks for having me. nation builder is a software platform which helps leaders organize communities online. we made that accessible to everyone. >> when you say leaders, a lot of political leaders. you've done a lot of work for obama and kerry and others. >> i start as a lowly field organizer on the kerry campaign and i was trained in this age-old tactic of organizing which is how do you mobilize people into groups. we're focused on the mass of local elections. there's about 509,000 local elections. so we're helping to bring the technology that obama had in '08 and actually even newer stuff to that mass of local candidates. >> how much is about getting the word out, and how much is it about fund-raising online? >> it's a whole package that does your website, database. it's ultimately about how do you

sean left his mark. >> bye! >> reporter: beth parker, fox 5 news. >> what a guy. >> what a great story. i'm think this ago thinking, you know, imagine if we were all like that. >> yeah. yeah. >> you could not have a bad day. >> yeah. >> and wouldn't be that great? >> absolutely. amaze for example that mother, too, such a nightmare for him to go through that when he was young and to turn it around and this is a wonderful outcome. an inspiration all toat all of the kids. >> a testament to them, too. >> absolutely. >> wonderful story. >> yeah. >>> coming up, the former players file a megalawsuit against the nfl and the redskins are back on the practice feel. >>> otas on the books and minicamp and training camp is not far behind. hear what mike shanahan and players think about the big move to richmond coming up. co . >> my boys, they need -- my kids need me man. >> a former nfl player pleads for mercy before a judge hands down a very stiff sentence. the details are next. [ female announcer ] with xfinity, you can always expect more. like more on demand shows and movies than ever. and more w

sean has left his mark. in anne arundel county, beth parker, fox 5 news. >> great story.ever in a bad mood. >> that is great. congratulations to him and to all the graduates there. >> that will be great. >>> more froof that criminals aren't always very smart. one man had some high hopes but did his heist to get the cash come crashing guessing it did. -- more proof that criminals aren't always very smart. >> ooh! >> coming up next, we'll check all our top stories and weather and traffic. stay with us. ay with us. >> think he had a headache? >> think he was in a bad mood. @ >>> it is friday morning, june 8th. a live look outside right now. our tower cam shot giving us a look at the sun coming out. it feels pretty good today. gwen, you've been saying all along, it is summer-like weather. 80s, right? >> definitely. it will get warmer as we move through into the weekend. so let's take a look at our satellite-radar composite shot. nothing happening. we've got a nice ridge of high pressure building in. that will keep the skies clear across the area. and no precipitation to talk

sean: jesus. she's a contributor to the daily beast, elisa jordan is here. did you guy it's big fund-raiser, you can't get through the streets tonight because the president's back in town. $40,000, sarah jessica parker'slary-jet limousine liberal, most of which went to harvard. >> i'm anna winter, i am so lucky in my work that i am able to meet some of the most incredible women in the world, like sarah jessica parker and michelle obam a. we are hosting a dinner to benefit the obama campaign on june 14 t. will be a fantastic evening. you can join us. we're saving the two best seats in the house for you. have you to enter to win. we have our own reasons to support president obama. we want to hear yours. so join us, but don't be late. >> sean: [mimicking accent] >> just so out of touch with the problems of ordinary americans in this time of economic dire straits. i have no idea what they are gaining from anna winter who is an unapproachable, untouchable, i think she has maybe dual citizenship. >> sean: i was not invited. >> sean hannity, i run around with mark levine, rush limbaugh and you -- i love wal-mart republicans-- >>> i'm a wal-mart guy. >> limousine liberals and country club republicans, who don