[laughter] >> fred wilson, thank you.hen we come back, we will reveal the winner of the best bit of the year award. ♪ >> a lot of news organizations are focusing on the best world leaders of the year. what about the ones who really matter -- the bad ones? it has been a huge year for thuggish strongmen. kim jong-un the shot a la star but one has outshone them all. which is why vladimir putin is our despot of the year. >> president, peacemaker, animal lover. vladimir putin has won many contest, and now he has won 2014. a strong man with a vision for the future. he began with a difficult challenge. ukraine was threatening to cut ties. but he stepped in to save a historic friendship, sending aid workers into crimea and picking up a prime piece of real estate for mother russia. now the russian people can enjoy this paradise whenever they please. fresh off that victory president clinton made more use of military equipment, which created lots of jobs by shooting down a civilian airline. it solidified his role as the strongest le

. >> fred wilson explains himself in more than 140 characters. we will be right back. ♪ >> our guest tonight is a blogger and a successful venture capitalist and a member of the technorati. thank you for coming on our show. let's start with the interview cyber security, economic espionage. what do make of what just happened and what do american companies have to do to keep it from happening again? >> the have to harden their systems. it is business as usual. this is what everybody is going to be doing to everybody going forward and you have to be prepared for it and you have to harden your system so it is hard to do it to you. >> are your systems hardened at this point? >> very hard and. >> this movie streamed at $15 million online. $18 million. >> you have it online and in theaters. but we see this more absent a north korean hack attack? >> theater owners do not want it to happen. they want movies to premiere in theaters and they do not want them to the available -- be available online. you could make a lot of money putting a movie out online an

. >> eric fred wilson a well-known investor, says the social media aspect of the internet is essentiallyms are essentially mature. not a whole lot of innovation. what does that mean for a facebook or more specifically a twitter in 2015? >> well i think there's always chances for renewal and new surprises. in some ways you look at a snapchat now, is that social messaging, social networking? it really is something different. i think in 2014 we came to look at it in a much different way, and it's really matured. i think it has a lot of potential to grow from here. so i think that there's going to be lots of opportunity for new companies to come out and maybe they get mischaracterized as, oh, this is just another pass at social networking. i think facebook and twitter also have a lot of opportunity to continue to grow. facebook's done a great job of sort of defensively acquiring these other companies that might usurp their position like whatsapp and instagram. all the talk of twitter needing to facebook themselves i think they need to continue being twitter. i think dick costolo stays on as