Billionaire Frank McCourt invests in transforming the internet: ‘With no trust, there's no democracy’

Billionaire real estate mogul, sports team owner and civic entrepreneur Frank McCourt discusses his $250 million investment to transform the internet and fix social media’s “broken model.” Frank McCourt tells host Margaret Hoover “surveillance” capitalism has allowed tech giants like Facebook to “weaponize” user data against them. He says the new blockchain-powered Internet protocol created by Project Liberty, his venture, would give users the ability to control and port their data. McCourt says a consumer product he is also developing could be ready for use in less than 18 months, and responds to questions about whether he is creating a direct competitor to an existing social media platform. Support for “Firing Line for Margaret Hoover” is provided by The Margaret and Daniel Loeb Foundation, Robert Granieri, Charles R. Schwab, The David Tepper Charitable Foundation Inc., The Fairweather Foundation, Craig Newmark Philanthropies, and Rosalind P. Walter. Corporate funding is provided by Stephens Inc.