This was a fascinating conversation. What stood out for you . Theres really nothing like it that i can think. It was supposed to be more on leadership of the various fed chairmen from years past and not about interest rates, but there was an awful lot there about current Monetary Policy. I felt one of the interesting questions was asked, why dont you do more . Why dont you overshoot inflation . Why dont you help boost wages in the economy, for instance, which is a hot topic right now in the election. And it was interesting to me no, thelen said, economy is actually progressing quite well right now, and she even said there is some evidence that inflation is moving up. Remember, in recent comments, she said she wasnt so certain that inflation was up. To me, the core pce is 1. 7 , which is close. That was quite interesting, i thought. Mark did you get a sense that that question was aimed at calling into question the feds mandate . Dual mandate . Not every central bank has a dual mandate of employment and keeping inflation under control. Chris i expected more this from your from volcker. Bernanke did not give them the unemployment rate, soft target, hard target, till the end of 2012. This is kind of knew. I thought it interesting that just at thew in end, the u. S. Dollar will be ok if the u. S. Keeps inflation under control. We know he is probably not so much in favor of the dual mandate, at least the heavy emphasis on fighting unemployment, where he used to just fight inflation. Mark one of the things i found most fascinating, the conversation which aaron bernanke, when they talked about chairman bernanke, when they talked about the taper tantrum. That delved into a conversation about transparency. Part of the criticism of the Federal Reserve is that sometimes they are too transparent, that they telegraph what they are going to do in the market will go through convulsions until the next fomc meeting. Is there a possibility that the Federal Reserve, in trying to be what Congress Wants it to be, more open, more accessible, that the fed is too transparent . Chris the downside of transparency is that the market overreacts to these things. Thats why they threw it first well, bernanke and said, you were the one who talked about transparency. You told people about the taker. What about the taper. What about the taper tantrum . You said you were going to taper in the next few meetings. It was interesting to me that bernanke, number one, said, well, the bond market came back down, so the overall impact of that taper tantrum was not that bad. But the other thing he missed was that he did not taper in september. He promised to do something, and then he went against his own communication. That was a market reaction. Mark lets get some reaction from someone who is at the event. Id use the phrase fascinating to describe what we just witnessed. What was your takeaway . I felt the most interesting thing was, the questions spanned several decades of Monetary Policy decisions, and some of those decisions that a lot of people would call mistakes. You had Alan Greenspan asked about the international situation. And they talked about the rate cuts that he did in 1998 a little bit. And basically, he defended his actions, saying eventually the turmoil in the rest of the world would have come back to hurt the rest the u. S. Economy. That is something that has a lot of significance for the u. S. Today. In a similar vein, ben bernanke said questions about the taper tantrum, which your guest was just speaking up it was a similar thing. He downplayed the impact on the economy from that. Again, that is a very relevant thing for policymakers today who are trying to avoid a repeat of just that situation. So, it was interesting how you theseese defensive defenses of past policy and how they relate to the current situation. Mark thanks. We have about one minute left. I have to ask you, one of the more fascinating parts of this for me was when they talked about the power that these human beings have, the power the janet yellen and ben bernanke and paul volcker and Alan Greenspan had. Is that a power that, for some people, is just too much . Mr. Bernanke made a point of saying, you know, we Work Together on this. We have to speak with our colleagues. We try to arrive at a consensus. There are of course dissenters, but they tried to arrive at a consensus they try to arrive at a consensus. Is that what members of congress have been talking about . Do they believe the Federal Reserve and, particularly, the chair of the rozier has too much the Federal Reserve has too much unchecked power . With bernanke did say great power goes great responsibility. Just thinking back what he did with the crisis, he was sleeping overnight in his office and stuff. It was interesting that both bernanke and yelling are more consensus yellen are more consensusoriented. Greenspan, perhaps he did not always consult the members as much as they should. The bernanke and yellen, lead up to the fomc meetings, they work the phones and get all the views of all the members. Rupkey, always good to see you. Thanks so much. And matt osler boesler, joining us on the phone. A meeting of the four current and past Federal Reserve chairs, janet yellen, Alan Greenspan, and paul volcker. Im mark crumpton. This is oomberg television. We now join charlie rose in progress. The volatility in this electorate andhe the feelings about the country, where the country is headed it is a sense of, you get, clearly, a sense of anger and a sense of optimism, the spending depending on who you are speaking with. You go to the sanders crowds. There is a vibrant, young sense of optimism that bernie can change this. You go to the truck rallies and the cruz rallies and you get a sense of the trump rallies and the cruz rallies and you get a sense of frustration, someone is taking our country from us. Donald trump is Strong Enough to get the country back for us. It has been a tenmonth lesson in changing culture in this country. Charlie everybody thought that donald trump would change president ial. I did not see that last night. And the whole idea was that now he needed to show that he was more president ial. And the circumstances of wisconsin are less likely to produce that because it goes back to his core. This is a contest. Its about winning. And i will do all these other things after i win. You can look at the last three weeks and focus on where he has not been more president ial and created more problems for himself on twitter and through some interviews, but you also look at his speech to ai pac, which got overshadowed, because brussels happened the next morning. En gave a pretty wellwrittt speech, first time in his life reading from a teleprompter. You can see the hires he has the, the old hands, establishment of a foreignpolicy team, which some people found underwhelming, but at least he took that step. Because they refers to the fact that his wife and daughter say he constantly refers to the fact that his wife and daughter say to him, you need to be more president ial. Its a oneperson operation, with all due respect this is the way he has operated. Donald trump is, in one way, the most surprising person any of us have ever covered, and, in other ways, he is the most predictable. You see the things he says and does, and they are a product of his way of operating in the world. And that has not been, for most of his life, president ial. Thats just not his thing. Or mainly toed it take the advice of his family and behave in a more president ial fashion he has tried intermittently to take the advice of his family and behave in a more president ial fashion. His incapacity to control himself, in terms of wanting to be the center of attention at all times, permit is usually all times, promiscuously doing interview after interview, television show, tweeting all the time, retreating other peoples tweets retreating retweeting other peoples tweets, regardless of who they are from. It comes in the middle of a week in which the combination of sending out that tweet, which overshadows all of that other stuff, it gets amplified by his opponents. He has a Campaign Manager who gets arrested for battery, accusation that involves a young female reporter. In a moment where he is totally unprepared in the conversation with Chris Matthews for a basic question about what he claims to be his possession on the question of life and abortion, he totally screws it up in a way that causes potentially irreparable harm within a hugely important part of the electorate Going Forward and also, obviously, in wisconsin. I dont disagree. He understands that he must be more president ial, that that is an imperative. But his core impetuous and his lack of preparation keep bursting through but his core coetuous this and his his re impetuousness and his lack of preparation keep bursting through. The old its a bit like story from vietnam, the scorpion and the turtle. I stung you because its my nature. Jeanne john raises a really good point about the amount of damage that he did to himself. If you look at the exit polls, trump has generally gotten about 36 , 35 of the women. When you look at exit polls in the prior primaries. You look in wisconsin, he got about that number. By more cruz beat him than 10 points with women. The women who had been with trump, like many of his supporters, stayed put. There are very loyal to him. They are willing to tolerate a lot of mistakes. However, those are not with him right now. They moved. If that keeps up, thats going to create more opportunities for keeph and cruz to chipping away at the margin of victory that he needs, that trump would need to try to seal the deal. Emily late charlie late deciders are not voting for trump, correct . Given the fact that he is uniquely a solo act in american politics, a solo act. He is flying alone, listening to only what he hears in his head. Discipline. Ssage given the fact that running for president is largely about message discipline doesnt this spell his doom . So far, anybody who has predicted his doom has proven wrong, up until, literally, this week. This is the first time he has paid a price electorally for some of the errors he has made. He has made errors. With impunity throughout the race so far. Charlie is it reaching a Critical Mass . John it may bp are we all know he is coming to new york it may be. We all know he is coming to new york, his home state. He is expected to win a huge number of delegates here. He caused himself some damage in the sense that we already discussed. He has made a contested Convention Way more likely because the way he lost in wisconsin, and he has done longterm damage for any potential you might have to become the president of the United States, because he has alienated, in a profound way, women and hispanic voters. There is no world in which you can be the president of the United States if you have a disapproval rate of 70 from the hispanic vote and the female vote in america. Trump is the nominee before the convention. Trump wins the ballot at the convention. Cruz wins the nomination at the convention, or someone else does. Paul ryan, john kasich, whoever. Charlie an increasing number of people believe it will be paul ryan. Do you believe that . I believe thats the most likely nontrump cruz outcome. I said this morning and got some heat for it that trump is still the most likely nominee by a lot. Of the four outcomes, two of them involve trump becoming the nominee. Thats becoming, after last night, until we see that he can , its becoming less likely that he will be the nominee, but he is still the most likely. Do any of you three experts think that donald trump gets to a second ballot in cleveland . And wins . Does he get to a second ballot . If he cant get there in one, does he get to a second ballot . Charlie what do you think . I think no. Jeanne there are some states that are state delegates that are bound twice, but they would not amount to enough to make a significant difference on that second ballot. Charlie i want to go to the democratic race in a moment. Lets suppose you are ted cruz. What do you do . Youve got more organization. Youve got more discipline. You shown you are willing to fight back at trump, on the heidi business especially. Whats his strategy . Asumulate as much as many delegates as possible informally. I believe that they believe scores of delegates will be forced to vote for trump on the first ballot who would not vote for him on a subsequent ballot. Charlie how has it changed . Every state is different. They are bound because they are elected i believe the press often overexcesses on electability and is sure voters overobsesses on electability. I believe that when we get to the convention, if trump has not won it back do you far want to go . Mark two reagan. To reagan. John f. Kennedy said himself that if rockefeller had been the nominee, he would have beaten richard nixon. By doing well in headtohead polls, acting like someone who could win regardless of what you think about the Republican Partys propensity to elect the most electable, the people in the room will be focused in a laserlike way on the question of electability. The broader electorate, maybe, maybe not. In that room in cleveland, thats the only thing they are going to be focused on. Charlie Bernie Sanders. Mike its amazing how much of the energy and movement behind Bernie Sanders that the Clinton Campaign missed for so long. From utica to rochester to syracuse, doing extremely well. How much of it is antiHillary Clinton and how much of it is probernie . How much of it is a genuine understanding on his part and the voters are of what his camp voters part of what his campaign is about . Mike i think it is probernie, because the audience he has attracted, the people who support for him support him, vote for him, donate money in the millions, recognize in him someone who has been espousing the same message consistently for 30, 35 years. And he is sort of unique on a public platform today, given the way politicians change their minds and their views on a weekly basis. Charlie a lot of people have been wrong about Bernie Sanders, havent they . To some extent, he was underestimated, certainly from the beginning. But when reporters went out and saw his rallies and talked to his voters and learned the passion that they had, i agree with mike that it is more properly and less antihillary, but not more probernie and less antihillary. The idea that we will nominate someone who has been part of the money nature of politics monied nature of politics, moneyed nature of politics rubs people the wrong way. Ted cruz says, i agree with Bernie Sanders. The 1 has gotten too rich under barack obama. When ted cruz starts talking like Bernie Sanders, you know the guy struck a chord. Jeanne one of the things that has really struck me about this campaign is that the motivating the animating factor, for both Bernie Sanders supporters and the donald trump supporters, are very similar. Both of them are attracting workingclass people who feel frustrated with the system and they are not doing as well economically. So, the motivations on both the far left and the far right are very, very similar. Their this goes to what michael said earlier. Their solutions are very different. Bernies supporters are turning to want government to help them solve these continuing problems and frustrations that they have trumps supporters want him to blow the system up, the system that they think has been keeping them down. So, its a solution to very similar frustrations and problems that we see animating so much of the edges of the campaigns. Charlie there are public and party the donaldcan party, trump is nominated, they have big problems. Either they have them is their nominee as their nominee with those problems or they nominate someone else and he convinces his supporters that they have im going to and stay as a factor in this one way or another. Its a dilemma you dont want to have in a political party. Is a sophies choice it is a sophies choice. Donald trump has started laying down the predicate for the complaint that he has had the nomination rightfully stripped from him. He is already making that argument. The people who follow him will believe that argument. Those people will not vote for the republican nominee if it is not donald trump, if they believe the establishment has stripped away what was rightfully his. Basically, if you put them under sodium prenticehall sodium say, wel, they would know we are going to lose the general election, we understand that. Youre trying to keep our party from we are trying to keep our party from being split in two. We need to try to hold the senate, hold the house, not have this be a cataclysm. Charlie thats the reason they come to a different view of the man they hated so much. Loose tohe will Hillary Clinton, but it will not be a cataclysm he will lose to Hillary Clinton, but it will not be a cataclysm on every ballot in the country. Charlie the Democratic Party, the dlc, the idea of a guy who, because he had been in arkansas politics, understood that you had to be very centrist to win but dont think its dead, it certainly is on life support. The reason is not the similar from whats gone on in the Republican Party as well. I think you have millions of people sitting out there, and we have been speaking around us and to this this evening, but politicians in power today in the house and senate, especially in the senate, seem to have no idea and they cannot articulate the pain, the hurt, the damage that was caused in 2008, 2009 to so many people, who lost jobs, homes, 401ks, any sense of hope for an immediate future for their children. And i think Bernie Sanders also speaks to the iraq war and the pain that has caused america. Charlie does that resonate . It does, for so many families, left and right. Trump says the same thing. Trump says wall street has rich people off, the iraq war was a mistake. One of the principal reasons that the iraq war resonates, if you stand in those crowds, charlie the people who were damaged in 2008 and 2009, it is their children, largely, who go to places like iraq. People in new york and washington talk about those things as an important public policy. These are deeply emotional, resident, personal things, losing a Family Member, having a Family Member wounded, not being able to retire these are big, relatively recent historical events that sanders and trump talked to with emotions talk to with emotions. Ive been a lot to a lot and talkedevents with senator sanders. He is very clear, when he first got into the race, he wanted to prove, more than anything else, that his positions, the arguments he wanted to make were not fringe positions to his great fear was that he would lose very badly and that he would, in fact, do the opposite, that he would be relegated, that the arguments he was making would be consigned to the dustbin of fringehood. Thats the exact opposite of what has happened. The Democratic Party of bill clinton is dead. The party of Bernie Sanders, the arguments he is making our way or the Democratic Party is now. He has dragged Hillary Clinton to the left on almost everything. The heart and soul and mind of the party is now a much more Progressive Liberal Party than it was 25 years ago. You could not be a competitive candidate in the democratic primary right now if you were bill clinton with those positions, the clinton that he advocated in 1992 would find no purpose in the Democratic Party now. Thats why Bernie Sanders has been so powerful, he is where the head and the heart of the party is. Charlie thank you so much. Pleasure to have you here. Back in a moment. Stay with us. Charlie chris cox is here, the two products officer at facebook. They command 1. 6 billion users around the world. He has driven some of the most successful initiatives, like the like button and the news feed. Yesterday, they unveiled pushing and to live video. It will have a host of new pictures that will allow users to communicate with friends across mobile devices. I am pleased to have chris. Welcome. Guest thank you for having me. Charlie so, you are at stanford. You completed the undergrad and you are getting an engineering degree. And this guy named the zuckerberg arrives. Guest it is 2005, mark and dustin and chris had moved out to palo alto and they were recruiting folks who had dropped out of stanford to help them scale facebook. At that point, it was 5 million American College students. And there were about 30 employees or so and i wanted to meet mark, i had written about him in the stanford daily, that was about the most prestigious paper you can read about him at that time. The world was not taking this stuff seriously and working at startups was not considered a good idea. Charlie and mark was not think about 1. 5 billion users at that time. Guest no. I went to the office, mark was not there, Justin Timberlake was not there either. But i met the head of engineering and a guy named adam dangelo, early employees. I really liked them. They were smart and humble and a dedicated. And they had an idea that facebook was the seed of collaborated directories, something that had never existed before. They thought of it as a wonderful thing and i was attracted to the personalities in the company, the vision they had and i consulted my parents and people that i was friends with and luckily i ended up making the right decision to join. Charlie what is facebook today . Focused ons super how people communicate and connect with each other using technology, that is our core mission. Nine ok at charlie a medium. Guest yes, a way for people to share their experiences. If you look at what we do now, it encompasses a wide range, which is cool. And what isaging app, which are huge in the world. To facebook and instagram, which is about trying with large groups of people. As virtualhink of reality, we think about that is enabling a new type of communication where you are sharing experiences with people in need in an immersive setting. Charlie people talk about you as having brought to facebook a strong sense of Emotional Intelligence as well as iq, in a sense that being able to communicate with people who want to come to facebook and at facebook, about what facebook means, the culture, and why and the mission. Guest i started about nine years ago doing an orientation talk where it is like your first day at facebook and i command talk to you and i come and talk to you. Charlie what do you tell them . Guest i talk about the idea, the history of the company, that we are still working on this idea of building a collaboratively working directory and the way that people can communicate with each other. That is a simple thing. But i also talk about the idea of building a medium that comes with it. And how it is a huge response ability to Pay Attention to details, bill something that is highquality, and to do a good job of helping people understand. Charlie and what will be Facebook Live . Which you watched today. On cbs this morning. Guest yes, it was an honor to be there. It was metta to be on a live show talking about the live version of this. So it is interesting, a lot of the ways that we learn what to Pay Attention to is by watching things and observing what people are excited about. And we began with a live in 2015, we brought it to public figures when theyre asking about an easier way to do q and a, something that the liberties athletes and journalists celebrities, and athletes and journalists use. We saw early traction among people from niche scientists, astronauts, athletes come all the way up to political candidates and the white house. Charlie you said at sporting events, we know that twitter will be streaming the nfl games on thursdays but you had said that what you visualize is taking it in the locker room. Almost getting access to live access to places you are not normally. Guest yes, i think that people want to be behind the scenes and there is something about the experience about going with somebody to a place where you are not normally on the screen, that is really exciting both for the athletes, villanova just did a live thing from the locker room. I saw it live last night, and the soccer team in the u k,. Oing goalie warmups which is not something that he would ever see on tv, but it is great to watch because you have a picture of what the life of these athletes that you see on the screen so often, is actually like. Charlie what do you think it will change . Guest it is early to tell. One of the things we are hearing is up and down the spectrum, from musicians is a great example, just giving a server connected to them with their fans. Or even filmmakers, Steven Spielberg was live last night. Charlie how was he live last night . Guest he was talking about his upcoming film based on the route doll book rattled doll book dahl book. He was sitting there in a room, answering questions about what g,was like making the bf and it describing his experience. Charlie and it was users asking questions . Guest people who followed him and came to see it. He opened the application, had the video on the phone and he was recording and sending that image. Charlie it was a smart phone . Available ont is iphone, available in about 60 countries right now. The coolest thing is Steven Spielberg is somebody that i never have really gotten to see in an unproduced environment. Charlie that is great. See itwas cold to was cool to be able to get the chance to see him. And he also felt that excitement. You can tell, i do not know exactly what he felt, but it seemed like he was having a very candid, good experience. Charlie how is this different from periscope . Guest the most important thing is scale. You have many people getting millions of views, you have people who have a huge following with them and their ability to reach those people in one place with one cap tap is very powerful. Charlie how did they announce it . Guest they go to their application and hit a button that says live. And their followers get a notification and people can subscribe to say that they want a notification when this person goes live. Charlie so if you wanted to participate in this interview and watch it and you can tap in life with Steven Spielberg, you do it. Guest so what he is looking at is a picture of the video and comments coming in, and he also sees reactions coming by, because people are hitting like and if he is explaining something sad, he will see a sad face. But then he can do something that is really neat, have a raw and authentic reaction to people who are there. This is like people and their friends doing this. Infrequentlyand i having experiences i am frequently having experiences where he is doing things for the first time, and i want to show my family, my extended family who is around all over, i want to tell them, hey check this out. Suddenly that can be a powerful experience for both of us. One feature we launched allows you to go live in just a group on facebook, which for me charlie so the only people who could access would be those people. Guest exactly. Sharing a lot am of photos with my son, about 100 photos a week, and they all get a notification to check it out. Charlie and they can talk about it, ask about it. Guest it is really cool. Is, we knowsense that facebook has benefited from mobile. We have seen all aspects of the surge come away know what cloud is doing, but video seems to get more emphasis now. Withse of what it is doing streaming, how it is affecting the cable business. More than anything, video has merged into the internet. Guest it is really interesting. If you look at the traffic that goes over the internet every day, about half of that is video. I think what is interesting is now, if you look at all the things you do on your phone, messaging and the reading the news, entertainment, even gaming and shopping my travel, sports, more and more of that is using the media of film in terms of how you experience it. With messaging, maybe you are doing more voice calls. Social networking, maybe youre looking a video and looking at instagram. More and more people are creating their first video. We saw during the ice but the challenge, that was the first time for hundreds of thousands of people that they created a video on first on facebook. It never occurred to people that they could do that. So we are just beginning to see the transformation of our mobile devices into things that have moving pictures and where we are comfortable. Charlie it goes beyond data. Guest it does. If you just look at live alone, the amount of every structure problems that need to be solved in order to simultaneously stream the same frame at the same moment in time to hundreds of thousands of people all around the world. Charlie you did not just wake up and start doing this. Have we are so lucky we this engineering team. We are able to build something for people to make it easy for them to do, whether they are on delhi at night, or on a new iphone in new york. A part of what is so hard is building these experiences that can be used in different places all over the world. What i was with mark is the number . Guest it is just over 1. 5 billion. Charlie wendy you expect to have 2 billion users . Guest the thing we are focused on right now, the people coming onto facebook today, what experience are they having . If you look, about a third of people coming onto the internet are going to be new. If you look at what is a new person charlie is it india . Just because guest the size of the country and the growth. Data plans are getting more affordable. Charlie so more phones in india compared to china . Guest i would have to check on that, but i know that there is a lot of mobile phone adoption. When i was in delhi in january, they were announcing the billionth phone that had been gotten. There is a lot of Entrepreneurial Energy around the adoption of phones in india, but when we look at somebody using facebook there, they are on a phone that maybe you and i have not used for a few years. They are on a 3g network and it is slow. So building stuff that works well there, making instagram work well there, requires a huge amount of effort structure infrastructure. Charlie within that mean in this case . Guest sending researchers to spend a lot of time there. We need to sit down with people and ask them to walk us through the experience and ask why something does not work for them. Charlie what is your Mission Today . Guest to make the world more connected. What it means for us is as more funds get adopted, making better tools for your experience. If you look, there is an interesting example where, we were looking at how people were using live so far and there is a guy charlie how are they . Guest there is a guy who is a bekhari,his name is and he runs a group of about 1000 syrian migrants and it is a place for people who have recently come to germany to have a place. Charlie so that he can talk to them and work on assimilation. Guest yes, basic things. Charlie has anybody seen my guest all sorts of questions. And he started doing the live q and as. One thing he started, helping them apply to german universities. These are things that we could have never imagined to be possible with the tools, but it importantder of how it is that we build these in an open way. Charlie when people talk about the voice of the user, what do they mean . Guest when we talk about building things, a lot of what we are trying to do is remind ourselves that no matter what we are doing, we need to Pay Attention to the person who is using the product. Even when we are talking about how we build something, Pay Attention to the language that we use. That is probably what they mean. Charlie when they say that you are the chief product officer, the first thing i imagine is that you are the guy that is in charge of developing the products for facebook. You are the connecting link between creating products and making sure that they are maximized in terms of use, and in terms of their connection. Guest yes. But what is so interesting is that what state what used to be Building Products for people who look like us, sitting in a shared office, this is a skill that is immense, one billion people a day. ,t is people in thailand indonesia, people speaking a lot of different languages and it requires scaling. And our ability to understand. Charlie when you sit with those smart people at facebook. And you think about they would love to know guest i am thinking myself. Charlie am i going to ask that question . The 10 smartest people you know and you think about the possibilities, help us of whatnd the idea might be possible, because so many people are connected. What does that do in terms of possibilities, and both good and bad . Guest i mean, the thing charlie social media has been abused, as we know. Guest did we spend a lot of time figuring out where there are bad actors. It is Pretty Amazing how rare and far between the stories are, given how intensely facebook is used every day and i think that is a testament to the work that we did to make it safe. When i look further out, some scenarios we are excited about is taking more immersive experiences, rather than sharing photo, oror a little a highresolution photo, sometimes you want to send the experience, as if somebody could be there with you. Charlie so a kind of Virtual Reality . Guest it will start with 360 film, a medium that is just starting to get traction. Charlie and video. Guest imagine having video stitched around and it is 3d and then having that about 16 i. Mes per second, four k per so a lot of information. When you think about Something Like when your son is taking his first steps. You want to capture it, so you can show it to the grandparents. But it would be really cool to be able to invite people to come see it and be there with you, closest friends and family. And if they can use a phone to explore that experience, put on a Virtual Reality headset to experience it, that would be an interesting scenario and a powerful scenario. Charlie is it true that more and more institutions, public and private, corporations or government, are using facebook to make their announcements . Guest we are definitely seeing people across the board. Charlie four an announcement from an athlete. Guest absolutely. And you have seen political candidates, you have seen them on your show, and i think it is because of their is a direct there is a direct connection. People love that feeling of being immediately connected and to have it in a way that feels casual and less produced my that is something that more institutions are doing. Charlie you mentioned chris use hughes who was therefore obama in 2008 and then got into journalism. What is the possibility in terms of around the world, of using facebook poll facebook politically . Factora of twitter as a for people who are trying to create revolution, it becomes an important tool. Guest i think one of the most interesting things in my experience, that started to happen, is more discussion. It is one thing to have a politician say something, but it is another thing, where i think that facebook really goes, is to have it diffused and have people discussing topics as they arise with the people close to them, distant from them, and have debates arise. There was a recent article in the New York Times that was basically on young men being emotional. It was really good. Charlie i am not young. I read it. Guest first of all, the piece was really good. Second of all, the discussion i saw happening among people i know was just as powerful. People were reflecting on their own upbringings, what they want to see with their children and when i look at Facebook Charlie so it was the Community Talking about this . Guest it was going to the newsfeed. Charlie coming about how you created newsfeed . Guest it is a personalized feed of stories that is created instantaneously for each person on facebook. And it is interesting, for the average person there are thousands of candidates stories they can see, and maybe they will only scroll through 100. O getnt those people t the most interesting stories each day. We have done some ranking to help them get the best stories. That endeavor has become one that is more about understanding what is meaningful to people. If we just look at what is clicked on, youll get something that were maybe people who have clicked on something say, i really didnt want to read that. Or they will be inspired by something, but when i click on it. So dido are you you invent the like button . Guest i cannot take credit for it. I worked with a lot of people on it. Businessthis is from newsweek, clicking on the like button is like cocacola, a secret recipe. Guest it is a feature that if you press and hold the like button, you can leave a wow, or a loved. We wanted to give people a lightweight way of expressing a motion emotion. We study the most common expressions that were universal. Charlie wow, love. Guest exactly. It actually changes the experience of using facebook, because now you are not is looking at the story, you are looking at the audiences response to that story. Charlie people have talked about google and search and they have suggested that at some point, you know where i am going, that a challenge to search will take it from people being able to use their friends on facebook as a means to search. Has that idea gotten off the ground . Guest there are a couple of things that people are excited about using that for. Charlie thinking, my friend i can trust them more. And they understand me better than anyone. Guest so finding people on facebook is already fantastic, you can find relatives, friends, and just looking for people and that is common. We also started to roll out the ability to find what people are saying about a topic, maybe breaking news or what is at interest right now. And now we are starting to roll out post search. Charlie what is the method for watching the growth of this . Guest we would like to see people trying out. It out. Part of the reason that we put so much energy on this is that in early days, we saw that this was not just public figures among celebrities, people who are already in the public eye, it was people trying things out for the first time. Or dj jazzy jeff, people that i certainly was not paying attention to, suddenly were given a window into their lives. So every opportunity we have to create that connection is a huge , a pretty special thing for us. Rlie can you mentioned you mentioned how ripe it was the market was in india. And mark was with me in china and we could see the great wall. Do you hope and expect to be able to somehow figure out a way to have access to china and one billion plus people . Guest we would love to be. It is obviously a complicated conversation, i do not have a law on that one. Unfortunately, no. Charlie do you have time for your reggae band . Guest i wish. Turns out i discovered some of the most amazing reggae musicians in pol out though. Amazingcalled rafa, musicians. Since having our son i do not get to play with them anymore, but every once in a while. Charlie thank you for coming. Guest thank you so much for having me. Mark with all due respect, the voice of the subway system has a public announcement, especially for you. Coffee in her left hand, mental party in her right hand. One quick simple easy swipe. There are no tokens, but here is how it goes. And im in mark there is more from bloomberg later in this episode. We commuted to kansas city, where we sat down with the mayor, also a Hillary Clinton superdelegate