WWL>Topics>>2-20 10:35am Garland, Facebook spends $19 billion

2-20 10:35am Garland, Facebook spends $19 billion

Feb 20, 2014|

Facebook bought WhatsApp for $19 billion. Garland speask to Larry Magid, CBS News & C-Net Technology consultant on what was attractive about http://www.whatsapp.com.

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Automatically Generated Transcript (may not be 100% accurate)

And we're duo Lotta shows you're -- technology years ago out of this morning reading. Walter journal and it said FaceBook. Is buying. An -- it's Cole walks out. And their borrowing at 915. Billion dollars that that with the B nineteen billion. I think I could be wrong your ball and talked an expert on. I think they've bought into Graham for a billion. So as soon as our road this cigarette very curious and settle triggered an expert on embryo when Larry Magid. Serious news and seeing that technology. Consultant Larry thank you so much for coming -- A good morning you know you I knew I had the same reaction by clean billion actually sixteen billion and there's three billion dollars in bonuses that. You know what two or three billion dollars amongst friends everybody on FaceBook -- there's a friend. I you know it it is staggering amount of money -- little -- And it generates. Relatively better revenue even though it profitable -- very tiny amount of revenue relative to what they -- work. And and before we get into the particulars on this do you have any idea. How they believe they do pro -- on this kind of thing that. But if they're looking at a company that barely make him a -- -- got born to two million. All words and adding a million don't have here and it's very -- popular in Europe. Can mix for a family that to nineteen billion. Well you know I think being questioned and the answer is I don't really know but I do know Mark Zuckerberg -- -- FaceBook -- on this if you guys reported spent a lot of time on the campus. And they know the attitude there have been times over the place to see move fast and break things. -- telling your engineers just people go out and try to and it doesn't work. No problem you know he's tried again the next day in and that's kind of the cavalier attitude and actions that cavalier to topple -- That these guys have -- there's an adult supervision and the company -- admittedly but Mark Zuckerberg. Happens very strong position he want to connect the entire world. He just added a half a billion people that formula right that's that's -- he bought for nineteen billion dollars by a half billion. Half billion what kept you pick and the growth rate it what's -- is very very good I heard communicative billion new members today. They also -- very high on. -- high -- 70% of their members' login -- you can have -- daily. And -- -- -- really that's what they need the of their own mr. mr. there or face -- FaceBook is not growing after the blood in the past it's still growing but more slowly. Seventeenth what's kept -- very popular among teens should. And so he bought by -- he brought people -- CE maturity accompanied by great technology do you really bought a growth area. Well and I like to give back -- -- a later date because one thing I'll look at it from a layman's point. This this is a master servers I mean like you said it looks like it's adding a million people today. But it's no mentions -- sharing that virtually -- you know painting of purge you're paying 99 to enter into. How hard is it to start another one and we knew the -- question of how hard is it started in when -- and Zuckerberg saying ninety. One billion -- up from where. Well well you know it's different question on the technology side that's like asking. How hard would be to compete would capture. And the international problems FaceBook came out the program called pulpit to perfectly good. Programs are doing which -- checked out but it did it failed. And FaceBook also at the messenger app and it it consistently but it's floundering. It is the formula for success in the technology world it particularly or -- like being -- -- myself fell. Exactly but definitely it works -- Matt -- technology combination of technology marketing community. But. I did you have -- effective if you look at look at Steve Jobs -- and why he's exceeded an apple and Nike deal before he succeeded. We could do a whole program on that. -- did not just the technology and a lot of pieces to. And sure for nineteen billion dollars a Cabrera could go to put one heck of a message -- the he -- bought a company like that you know. I have no idea what would put some of these smaller phone companies were probably not much more than that. But he he he couldn't build that community couldn't get that under that 450 million become member community and growing. And and that's the key. It's sort of -- it's very ephemeral I mean I wish I could explain it better is that it's been stagnant for years and it's it's amazing to me. If slump -- climbed -- -- seeing a little bit of the embargo brutal lot as FaceBook has been losing. These younger demographic. And everything I read about this says that will probably be the first mobile app. To get to a billion users does one FaceBook just become a an app company a mobile caught. -- -- on the on the mobile site that globally as is moving and he can't really is that it's it. It did not detail anymore and even though that -- -- not quite true but certainly moving that direction. So -- on the -- yet and the mobile in terms of of what FaceBook is gonna become it's clear to -- that there that there acquisition strategy designed. To innovate by by bringing in outside. Businesses and integrating it into the corporate determine what significant to him -- I would -- found billion. It would Graham and announced to your -- I expect him at once. They get -- a billion dollars for this. The annual photo app. Yet it turned out of the brilliant acquisition he could imagine because of what they got for that money. With the heart in full an interview all these young people in the enemy they've reinvigorated the company. We is a constituency accustomed to being abused that they had lost starting to -- on FaceBook. So with a brilliant move in retrospect even like that kind of dumb at the time. I can't tell you whether this is definitely made yesterday it was going to be it's gonna pay off financially it it definitely -- to -- Even if you you know they -- that what you just said about the 1990 and the year even if they had a billion music and immediately in your opinion that's not. You know that great but it's it it's not that huge compared to a lot of companies out there so. You know what I think that part of the Smart guy to regret that. Well when we come America are about motive and -- try to help me when my conclusion also. Today FaceBook we find out is completing nineteen billion dollars for one out. In the meantime. Frentzen Germany are talking about a whole new Internet to cut of the Google Susan Page votes. You know we've been we've got. Stereo mini antennas. That for twelve bought some long if the courts allow this thing. We can get every visual flying through the -- at twelve dollars a month. -- we got the Comcast Time Warner. Merger. That many things is gonna ought to call of the current chairman of communication. And we've got a piece of -- Look condensed set up a totally new net neutrality rule. All this and actually get up saying. No one in the history of the world. Has done anything like tennis and what he's talking about a isn't out. And it's all walks out. And Zuckerberg must believe what he says because it's been paying nineteen billion dollars for. Have 450. Members adding about a million people a day. You can get appropriate for the first years -- years after that you pay 99 cents a year. So needless to say we did talk to be experts to figure out why in about -- this kind of money for this. Larry Magid is with the CBS news agency that technology consultant. Larry one of things on wanted to get in -- And I'll take one by someone as time permits. -- -- in the Holland Germany's. Leader of France's leader of water created a new network to a little upset over NSA and they're not real clear that Google and FaceBook or pleased. In the United States with the all the power there they're -- 300 new Internet does that affect FaceBook and Google. Well if they were acceptable Latin it would be but it may not be able to create some kind of new Internet but they're not gonna. They're not gonna isolate Europe from the rest of the world by not -- by disconnecting from the the public Internet so deep that would be economic suicide for the country. Europe has very strong property lot I go to the -- Privacy International practically bishops conference since. Every year which are dominated by European privacy commissioners and have a lot of time in part in Europe. I baby if indeed they. Bark very loudly that they don't bite that hard they're there. The -- give -- -- apparently -- privacy laws America death in America actually been fortunate to once we do have -- Europeans don't. I decided to duck it happened I didn't like something might happen but it's not gonna have to look at -- -- figure they have different speech slot for example. Nazi memorabilia which at discussing it it is is still protected by the First Amendment it's illegal in France and so he could be arrested for posting things on the Internet. That are legal here illegally or they have to a lot that the bottom line is they're knocking a cup until drop in the world did you think it happened. Among these little video and -- -- I think it's every your they call -- twelve dollar -- out. Dugard who pulled -- all the single global all the major. Networks and and other online that took. Full disclosure. -- CBS news which I work for it and feeling burial -- I don't think it's an interesting idea. Yeah I think people particulates -- their antennas are located in. Warehouses and on the -- -- in Brooklyn and they're picking up the same signals that you would have had a pair rabbit -- -- your TV. Can transmitting built over the Internet in the big legal theory that there are pretty by. It's no different that you putting up an antenna. Except with the intent of located in their warehouse and of course the networks think none of that -- who you're stealing our signal and. The big issue here is that the networks get money from the cable and satellite companies. The rebroadcast rights and -- it but he knows he's. And if so there there have been -- on -- left -- court result it. But it's one of many examples of how technology is disrupting. You get it's -- I just didn't go to Larry the world dot com. -- you'll see an article actually got up it'll be apartment -- -- think -- my column. On Monday the senate in Mercury news to talk about how companies like bluebird left or disrupting the taxi industry in this all of these disruptions and media of course it is on the bleeding edge of -- in Tahiti the other networks are worried. Barry Andrews -- brewing in my number listeners. Jerry -- -- Larry Mac. Do or not. I almost can't not -- Central America and that cousin got in trouble the world a lot and he was telling me. That the reason that they love this what and no one in the United States really you to -- -- -- a bit. Is because a lot of they -- different cellular plans in around the world they virtual fortress in the and that you mentioned photographs sent pitchers and things like that and bachelor think they'll -- Serbs just provide. Whereas over there they get charged -- and sort of very popular -- he wants me to download it to communicate with him. Police traveling around the world. You know so I think that's -- -- -- -- such a big out -- -- that -- there's other reasons as well. -- disorganized it -- -- comment on. I think you hit -- and a good point you get on it. I I I actually had downloaded what happened later I'll look at that like Q I don't really needed because I definitely could use -- -- -- planet. With unlimited texting -- actually right. If you get around the world a bit that's not a case and texting can be can add up. Especially young people don't have into the two dollar and technically it's so it is popular there are other feature about the big picture thing it's got a great human face. You could send audio messages which are kind of nice he could -- group an -- if he could have. I like -- like a chat room if your Smartphone protecting. It definitely features but bottom line between Cuba via texting it you have to -- to protect. -- -- uses a mobile broadband to other texting. Entities like ordered not do that. Like good. -- talent look Twitter Twitter any opinion that you and I actually think yeah it didn't. It is thought -- -- -- -- actual messages over mobile broad there and -- got it but -- that. Yup integrated -- so that rhetoric if you look at your phone with three. In a cramped for the simple I -- if you had 23 radio for your voice channel that you used to talking. You're your data channel -- protecting. A target your you know your your efforts channeled into the text and. In the -- -- -- data channel -- you can for anything you can -- on the Internet you can you can -- -- he -- You Skype you can date and so it does keep up the development database debated -- that project a little data. -- even if you have a gigabyte plan which had the minimum. You know he'd be there is no way at all but text messaging -- -- and annual message. Well Larry I don't view where you works so well Brooke technically. Challenge people can I call you back at a later date -- thing to understand this better because of -- You know you can call me back like quantity studio went about it or you come to New Orleans throughput Joseph like guarantee. You gotta love I love you Larry good talk can do very very introducing him from election thank you so much.