does this reflect poorly on andreessen horowitz? >> we do not know how tightly they are involved in the everyday decision-making and the strategy. what's interesting is that andreessen and horowitz are both founders of the browser, right? this is something that they know very well. whether or not they were involved in the decision-making, we do not really know. the idea of trying to annotate the internet is one that is very interesting. anything that could be put onto a site where someone could go through and manually -- and wikipedia, like fashion, provide meaning to things that are otherwise very subtle, this is an interesting idea. >> at one point -- at what point do they get out of the doghouse? what do they have to do to get onto google's good site again? >> this is sort of writing history in a way. how does a company that in its own field in its own department is the leader, they get into the veritable doghouse, how they get out of it -- presumably, they will. otherwise it could be detrimental to the company. >> hugely. >> a h

mark zuckerberg and andreessen are cashing out millions of their facebook shares. is it time to end the blackout that keeps sports games off tv? the nfl's -- nfl says no. first, to the lead. the spread of the digital currency bitcoin is causing governments around the world to pay attention. that has set the value of bitcoin tumbling. the currency is hovering around $700 from a high of $1200 in recent weeks. china's biggest bitcoin exchange was forced to stop deposits. denmark has become the latest nation to propose standards to protect consumers from what it calls the risks of bitcoin. joining us from new york is matt miller, who is conducting a series, the 12 days of bitcoin. you are on day number nine. let's talk about what countries around the world are excepting bitcoin these days. >> if you want to talk about who is accepting bitcoin, i want to go to the coinmap.org chart. it is a different map. it has a bunch of little dots over it. this is where you can take your bitcoin and pay. these are brick and mortar stores. the internet takes it quite all over the pla

and markerberg andreessen are cashing out millions of their facebook shares, selling the stock as part of a just announced secondary offering worth nearly $4 billion. hackers stole data from up to 40 million credit cards used it target during the height of this year's holiday shopping season, accessing the information theugh swipe machines in checkout line. the nfl wants to throw a flag on the fcc which is considering listing the blackout rules that keeps some games off tv unless the stadium is full. is technology already trumping this 40-year-old rule? million shares of facebook are about to hit the market in a secondary offering. it is the first one since the social network went public 18 months ago. facebook will sell 27 million class a shares and mark sucker berg is selling more than 41 million shares and mark selling 1.6s million. in a statement, facebook says -- the secondary offering that nearly $4 billion and facebook shares are trading down on this news. cory johnson is in new york with more in today's drill down. should investors be worried? >> i don't know if the stock eatin

scott kupor, managing partner at andreessen horowitz, to every much.s started f the process for allowing in- flight conversations that is coming in next on "bloomberg west." ♪ >> welcome back to "bloomberg west." i am emily chang. we have breaking news. the white house is going to today, the panel report heating up a relief that was supposed to happen next month. i want to get to white house correspondent phil mattingly. this is a review of a panel that the president would together, looking at the nsa surveillance policy over the last few months. this is quite a surprise to see this report is early, right? >> that is right, emily. we expected it in january along the time the president himself was opposed to announce what he planned to do, the changes he plans to implement regarding the intelligence collection methods. the review we know for a fact has 46 recommendations in it. it was put together by a five- member panel which included ex cia acting director mike morel. we're told it is very lengthy, but we all expected it in january for the press secre

and markerberg andreessen are cashing out millions of their facebook shares, selling the stock as partnnounced secondary offering worth nearly $4 billion. hackers stole data from up to 40 million credit cards used it target during the height of this year's holiday shopping season, accessing the information theugh swipe machines in

facebook with an additional 41 point three 5 41 point 35es -- million shares from zuckerman and mark andreessensays it did not cause a fire in a california grosz. shares of tesla have pledged footie five percent after three reports of battery related fires in october and november. gardener of the olive and longhorn steakhouse restaurant chain's plans to separate its red lobster business amid declining sales. in a statement released today, they said while they plan to execute a tax-free spin off of red lobster to shareholders, the company may consider selling the business. coming up tonight on "bottom fed" we will talk about the 's move on the global economy and the eu summit in brussels. join us from washington. that's coming up in about 90 minutes right here on bloomberg tv. are uponlidays everyone and that means chocolate. chocolate is a starring treat at many holiday parties and functions from stocking stuffers to corporate it talks is. godiva chocolates offer an array of choices. . want to bring in jim goldman thank you for coming in. you must be a very popular person these days. >> everyon

it is kleiner perkins or andreessen horowitz, you're more interested even if it's for the same start work for. it's interesting to see what a role silver lake played. >> the founder and ceo of maine, thank you very much. there is no escaping the self he. they are everywhere. -- there is no escaping the selfie. >> i don't have a problem with the selfie. it's a natural and human instinct to capture yourself in a way that history will not for you. the walls of the met are hung with selfies. norman rockwell -- it's possible having a camera in your pocket all the time has perverted this human instinct and turned it into unbearable narcissism. but if we are going to indict yourself for that, we have to remember the role of the selfie industry. twitter makes you post one when you sign-up. you don't on facebook, it will remind you until you have one on the page. instagram is the house that selfies built. these are not individuals, they are companies. the one that is my twitter icon was taken from a wedding and i obscured my face. one is me walking away with a child on my shoulders. this is a

he joins the company and ward member mark andreessen in an offering of about 27 million shares worth$4 billion. facebook says it will use the proceeds for working capital and other corporate purposes. dennis rodman is back in north korea. he is working on an exhibition basketball game in the country next month. he is scheduled to meet with the country's leader, kim jong-un. he said they planned the visit and they were not affected by the recent execution of kim's uncle. those are some of the stories we're following in this hour. the federal reserve decided to reduce its $85 billion in monthly bond purchases by $10 billion starting in january. the fed said it could further reduce the pace of its purchases next year if the economic improvement continues. for how the taper impacts emerging markets, particularly the so-called fragile five, i am joined by bob rice, managing partner at tangent capital. and we are not talking about the new york knicks. >> we could be, but that is a different show. >> emerging-market indexes are mostly down today. tunedot of people are not into how much the

aday, mark andreessen made $25 million investment in coin base which is not officially on the exchangeare on a new fund-raising round as well. the real exchanges are what you think of. this is the biggest now. >> people said, i thought that china shut bitcoin account. no. still, they aren't doing it. into more local exchanges. what they do in regions, especially here because there's not a a major exchange in the u.s., they do these meet up groups all over the place. is aounder of bitcoin pseudonym. it might be an actual person. oneay, tonight i'm going to at webster hall and i will meet a bunch of people who are literally exchanging bitcoins on their phones for actual cash or other goods and services. >> that is where it gets interesting. what is the community like? >> the community i have been hanging out with his fantastic. very helpful, not rude, incredibly intelligent. many people now are asking me, how do i get bitcoin or what should i do? the first thing you should do is research it. obviously, one bitcoin is almost a thousand dollars. you can buy smaller chunks. a few cents.buy

marc andreessen's investment just highlights that. >> i have seen those numbers as well.of the transactions. all of this is public information and we were able to look at the transactions. there are not very many commercial uses for bit point. we believe there will be over time. i believe there will be something built on bitcoin. concerned about the lack of regulatory clarity? if we cannot understand it, the government does not seem to understand that. >> there are concerns that it will be regulated at the state level, the federal level. are unwilling to work with bitcoin companies as a result. until we get to a point where the banks are comfortable working with these companies, it will be difficult to imagine this ecosystem flourishing. >> there is not a central bank. it is a decentralized system, an open source system. if you want to shut it down, you have to shut down the whole internet. >> it is one of the challenges and one of the great opportunities as well. have seen this before. we were one of the early investors in skype. it is one of the things that attracts us

some people have speculated that he is gavin andreessen, but it has not been proven. >> why do we careow who this clown is? >> he created currency that was trading for over $12 billion, for another thing, this guy or group has the first 900,000 bitcoin mines. has ding to a blog, he mined 900,000 bitcoins i have never been touched. >> i'm ripping up the script. mined? jim rogers of duke energy mines coal. a bitcoin?ining >> it is what you do when you go to verify the transaction. many people are lined up trying to verify the transactions and the one guy that wins the right to verify the transaction does the work and gets 25 bitcoins as a reward. people who engage in bitcoin, do they follow the news of china tanning -- >> absolutely. i was looking at the sub reddit for bitcoin. the third most popular post was the u.s. suicide hotline with a little clause that said it is only money. these people are following, whether they like it or not, the price swings and they are following what china does. >> jim rogers, do you believe in this stuff? >> i'm not sure. i live in the physical world. you

mark andreessen also selling and facebook is selling about 27 million shares.d bring in three point 9 billion, based on yesterday's price. it was down about $.50 and this comes a day before facebook is joining the s&p 500. $3.9 billion sounds like a lot but that is less than three percent of the market cap of the stock. impressive it was only down $.50 today on the news. >> this is kind of smart timing because when it joins the s&p, the people who have mutual funds have to buy facebook stock. that could offset any of the effect you see from more shares coming to market. >> good thinking. you should see if they are hiring a treasurer. >> cfo. even though it is only three percent, it is a lot. zuckerberg, 41 million shares, that has to be just shy of $2 billion. i know he is going to pay taxes on a lot of it but -- >> mario making the point earlier, the company is making a lot of money. >> you are watching surveillance this morning? so was i. he was guessing. roughly 1000 shares. i have a story about another big man, barry diller. match dating services into a sep

. -- mark andreessen, not a huge sale on his part.t of the effect of their sale is being offset by this addition to the s&p 500. other fund managers talked about this a little yesterday. you have to add facebook as they benchmarked the index. that is a sign the stocks had a good run. of a year.een a heck can the stocks keep up? >> i think it can. he have precedent. look back and see what google did a few months after they were public. -- linkedin did the same thing. yelp did the same thing. i think this is a natural part of the growth of these companies. they have $10 billion in the bank. we know there is demand for about 200 million shares coming from all these index funds. is the growth coming from? people were critical of their lack of mobile advertising. they have done a lot to fix that. they talk a lot about video being the future, in terms of advertising. where is that going to be worse? >> you have a number of drivers. -- you haveular cyclical growth from online to off-line. >> what do you mean? you mean within advertising itse

mark zuckerberg is offering 43 million shares as part of this. 1.6 andreessen is selling million sharesll. part zuckerberg is making a gift of 18 million class b shares and converting 18 million of them to class a shares, which are the general shares. is. morgan securities handling this. >> michael wolf is with us with his great experiment on m&a, corporate structure in silicon valley. michael, this class a, class b, explain that to mere mortals. >> from the beginning, mark zuckerberg has controlled his company. it is one of the reasons he did not sell out to people. and right now, he had special shares, just as the founders of google and other people, so he certainly if he is going to give those shares away, he certainly wants to convert them from b to a so he maintains that control. offacebook says the majority shares to zuckerberg are to satisfy taxes of sales. >> what part of this is motivated by shares having rallied big from the ipo, and what part of this is normal tax rotation? >> every analyst has a buy on it at a much higher price. >> they do but their average rice target is up

the vote of confidence coming from marc andreessen. his firm investing $25 million in coin base.n base operates the digital wallets to store bitcoins in an exchange for buyers and sellers. less enthusiasm from the european banking authority which issued a warning about the lack of regulation among virtual currencies like bitcoin. it can't be defined as real money so it plans to tax them as a real asset. fidelity quickly shuttered a program to allow investors to put some of their iras in the bitcoin trust. one homeowner says he'll accept bitcoins for the estate in las vegas he's trying to sell for under just $8 million. >> first, the tesla, now a mansion. >> why not? >> no one is sure if bitcoin can wipe out paper money in the future. >> but according to the op-ed by our next guest, a cashless society would be a huge threat to our freedom. joining us with more scott shay, the chairman of signature bank. you're looking at the intervention by governments and other institutions in the ability to see into our lives if we're using the electronic method of payment. >> already we're very