American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Facebook's response to its recent data breaches is like playing a game of "whack-a-mole" instead of addressing the root issues with its business model head-on, Elevation Partners co-founder Roger McNamee told CNBC on Monday.
The social network is "attacking individual problems as though they're isolated and unrelated to everything else," argued McNamee, an early Facebook investor and frequent critic. "That is never going to work."
Facebook came under fire once again for its data security practices on Monday when the Japanese government issued a statement pressuring the company to better protect users' personal data.
Last month, Facebook revealed that an attack on its network had exposed the data of 50 million users, the largest breach in company history. At the same time, the company is still reeling from the Cambridge Analytica scandal earlier in the year, when it was discovered that the political consulting firm, which worked on President Donald Trump's campaign, had harvested data from up to 87 million profiles.
Without systemic change at the company, McNamee believes these problems will only continue. "Every time you turn over a rock, there's going to be something ugly under it," he said in an interview with "Squawk Alley. "
"The problem is that Facebook has a systemic issue in the way its algorithms and business model work," McNamee said, reiterating his belief that Facebook's ad-based business model is inherently at odds with the need to protect user data.
"In order for this problem to go away, the business has to earn less money," offered McNamee, saying that investors might then push for changes.
Facebook shares tanked in July after the company warned investors of a revenue slowdown later in the year, partially caused by more investment into data protection. The stock is down about 11 percent this year.
With regards to the growing calls on co-founder Mark Zuckerberg to split his two roles of CEO and chairman, McNamee is unconvinced that the change would have much of an impact.
"You're not going to fix this with corporate governance. You have to change the product. You have to change the business model," he said.
Similarly, McNamee believes Facebook's potential acquisition of a cybersecurity firm, as reported over the weekend by The Information, is "not going to solve the problems."
Facebook did not immediately respond to CNBC's request for comment.