Barry Diller on the challenges to build New York City's 'Little Island'

New York City opened its first ever floating park called "Little Island" on Friday. The park took more than five years to build and was funded by donations from the foundation headed up by Barry Diller, IAC and Expedia chairman, and fashion designer Diane von Furstenberg. Diller joined CNBC's Andrew Ross Sorkin on the island to discuss the project.