Murphy. The lead in the finance section is on bitcoin. We have been talking about the bitcoin so much in the last week. Over the past year, let alone several years, we have not ever seen so much moving in price. We have seen a volatile movements in price. This is a staggering statistic. Less than 1000 people hold 40 of the worlds bitcoin. With the market being as volatile as it is, the price going up so much, some of the people we know, when one of these big owners, it can cause an extreme drop in price because of the concentration of ownership in the hands of relatively few. What we are looking at with cryptocurrency, forget the broader debate about bitcoin. This is a real problem for the market transparency. A situation where people dont even know who the owners of the of bitcoin are. Its not similar to win a big shareholder sells off. Its exacerbating it. Julia we are going to see exchanges like the cme introducing futures on bitcoin. Will this increase transparency, liquidity and perhaps reduce the impact . Megan thats the hope, that it becomes a more normalized market. When you go out and talk to people, one of the things about bitcoin and cryptocurrency is watching, the amount of mines moving into a beard into it. Theyre going to try to move the market. A lot of people still think this is a scam. Nevermind that jpmorgan is also getting into it. There is that, but i think what is so interesting is will it ever get out of the feeling of it is a scam, speculation, the oldest form of the market, and be able to normalize the market. This concentrated ownership issue, the winkle boss twins on paper, are billionaires. Thats made famous by the investment in facebook and their dispute over that. It is an extraordinary change in the fortune of people who were early investors. Carol a statistic that they have gained 1,000,000 from trading, thats hard to get your head around. But you think about when one big investor starts selling, what happens . Megan and when he has a lack of transparency we have currently. You cannot attribute it. We usually do share selloffs when someone needs liquidity, or an m a deal. Carol but there are systems in place. Megan we dont know what the underlying motivation is, profit taking, concern, they know something we dont. That is the issue. Julia lets move to the cover story in particular. What happens in a country when 97 of the population who use the internet are on facebook . Megan this is a fascinating tale. We also spent a lot of time talking about fake news. It is really grand zero. This is the philippines. This raises the rise of Rodrigo Duterte and how he mobilized social media during his rise. The other side is this journal journalist who founded a news site that was launched on facebook and it weighs out she knew facebook is the only internet some people know in part of this country. 97 and attrition more cell phones than people in the country. She almost helped assist his rise, he had such a rise in social media channels, and once he got into power and some controversial elements of his regime came in, clamping down on drugs, we all know the murderous told that has taken. Other fake news, things in the administration to distract attention. And personal, extreme attacks on her as a journalist. Julia social media as a tool. Carol exactly, and we have more from our reporter. Maria is a journalist from the philippines and has been there for more than two decades as an investigative reporter. She started an online news site. It does all kinds of different stories, they do investigative stories, lifestyle stories, and they do a lot of political news as well. Julia she really rose to prominence, if we look at january of last year, she combined with facebook to host a president ial campaign debate, and strangely enough, only one candidate turned up, and we know him very well. She invited all five candidates and some of them accepted. As the evening neared, some canceled, and the night before, the final one canceled. Leaving only Rodrigo Duterte as the single candidate to show up. This event was across 40 College Campuses across the philippines, the event was live streamed on facebook. The question for the candidate, they were crowd sourced on facebook. There was a dynamic relationship between social media and the fight for this event. And the company for this event. And it gave him inability to an ability to broadcast his views. Julia we know he is controversial, the policy he has enacted as a president. When did maria start to recognize something was being used as a weapon rather than a concerned about actual news appearing that was not real . Early in the campaign, there was a lot of aggressive use of social media. People who are supporters, online going after critics and opponents and targeting them in a personal manner in violent, aggressive manners. There was this trolling aspect to the Campaign Early on, and there was also the fake news elements. Stories started circulating online and in social media that were not true. Julia what happened to maria when she started to try to tackle domestically what she saw as a kind of propaganda war from the government . It goes to the heart of media ownership in the philippines. Is her company at risk for trying to question the government, their motives and policies . Yes. Marias story is fascinating in part because it has been an evolution. She started reporting about what she felt was a Propaganda Machine being used by the government in order to go after critics. When she started writing about it, the Propaganda Machine essentially when after maria. Went after her. They started sending her messages online and on facebook saying really vile things. Facebook did not do much to stop that at the time. As the attacks escalated, as she started becoming more critical of the Rodrigo Duterte government, he singled out her website in a state of the Union Address and started saying the company was not following all of the rules and laws of the country. It escalated from there. Carol coming up, Warren Buffetts succession plan. Julia and Robert Mueller might be prepared to play defense. Carol this is Bloomberg Businessweek. Carol welcome back to Bloomberg Businessweek. Im carol massar. Julia im julie chatterley. You can find us online at businessweek. Com. Carol and on our mobile app. Opening the magazine this week, what are Warren Buffetts plans at Berkshire Hathaway . Julia we spoke to inhouse buffett watcher, noah. He talked to investors or people who follow berkshire closely, a lot of people have been looking at greg abel, who runs the energy operation, they own a bunch of utilities throughout the u. S. And the u. K. Carol we have these names because they were highlighted by charlie munger. Everyone is trying to read the tea leaves. Carol they have not come out and said. We should take a step back. We all have a lot of fun. We respect warren buffett, it is hard to follow in his footsteps, but it is like, who is going to take over for Berkshire Hathaway . Everyone has been wondering. There has been a tremendous amount of speculation. Buffett is 87. Mongers a couple years older than that. This is a conversation that has been going on decades. Frankly, the name on the envelope has changed over time. We are certainly not the first people to write an article speculating about who the person is. There is a journalistic tradition of this. What we do know is that as time goes on, some of the names that have been thrown out there in the past, for many of those executives, they are no longer at berkshire. Or they are looking less probable because of age or some other reasons. Julia break it down in terms of able and jade. What the differences are, because there are fundamental differences, whether they have grown up in the business, energy versus insurance, their respective age. He was a young guy to come in there. There are critical differences. Age is one of them. Abel grew up in the energy business. He has been running a business that has been highly acquisitive. Within Berkshire Hathaway energy, his business has gone out and bought more utilities, they have bought pipelines, invested a lot in renewable energy. It is a place where part of buffetts empire where he can count on his managers to figure out what to do with all of this cash that berkshire is producing. Its not solely unique to him, but he has a track record of doing that over and over again. Julia 20,000 employees, and thats just part of the business. Exactly. Something interesting about able and how he runs the business, the head office has only two dozen employees. Thats the model buffett uses for the whole conglomerate. Buffett likes to play this up, he talks about how he has 24, 25 people in omaha who oversee the whole conglomerate, which has maybe 350,000 employees. There is a nice parallel between how abel operates and buffett has been running the conglomerate. Julia in the politics section this week, special focus on special counsel Robert Muellers investigation into potential kremlin ties to President Trump. Carol mueller may have a plan if trump tries to shut him down. Julia here is matthew philips. In the days after the Michael Flynn plea deal, trumps lawyers started to change how they would talk about the affection of obstruction of Justice Charges being leveled at the president. From not thinking about much of it, too starting to argue that a sitting president cannot be charged with of structured justice, there is no statute that suggest it is a crime. It marked an interesting tidbit give it bill in the way interesting pivots in the way the Trump Defense team was going about this. This was john dowd, in the aftermath of the scrum around this tweet trump had sent out over the weekend in which out said, i wrote this, it wasnt the president , the tweet said i fired flynn because he lied to the Vice President and the fbi, the fbi thing was the big news, a lot of commentators said he proved obstruction, given what we know about his reasons for getting rid of fbi records and jim comey. It has been interesting week in the probe, we have some big names after the manafort and gates indictment last month. We now have the nsa director playing to a pretty small count of lying to federal agents. Given the potential crimes we know he could of been charged with, including being on the payroll of a Turkish Company while he was a top official in the white house. Julia we have President Trump lawyers pushing back on the idea justice foron of setting a precedent. In getting Michael Flynn to plea , it is a huge step for for the investigation. You say it is more than that. More important, because it ensures it continues, the investigation continues. Explain that idea. Last spring when Robert Mueller accepted this job as special counsel, it was always going to be kind of a defensive job in its very nature because he was investigating a man who had the power ultimately to fire him. Or kind of fire people, or direct people to fire him. There has always been this kind of threat over this counsels office and his team about whether the white house can do anything to shut down the case. What we have got with the flynn thing were a couple of things. It gave us the first person inside the administration, even though he was only there for less than a month, i believe, he was inside the trump administration, not just a campaign had or campaign figure. It also raises the political temperature. If trump were to try to shut down the mueller investigation, the political implications of this would be unprecedented. Almost like nothing we have seen since watergate and it raises the ideas of the saturday night massacre, in which president nixon fired special particular art special special prosecutor archibald cox. So he has also laid some breadcrumbs on the ground for other prosecutors, state and local ones to pick up and continue his investigation is if he ends up not leaving it ultimately. Julia up next, how a famous lawyer became infatuated with hollywood and found himself working for Harvey Weinstein. Carol and a crowdfunding site that runs on hate. Julia this is Bloomberg Businessweek. Julia welcome back to Bloomberg Businessweek. Im julie chatterley. Carol im carol massar. You can listen to us on sirius xm channel 119. Ame 11 30 in new york. 161 in boston. 90 91 fm in washington, d. C. And the bay area. Julia and in london and asia on the Bloomberg Radio plus app. In the features section, a profile of david boys hollywood ambition. Carol and what let him into the orbit of Harvey Weinstein. People know this sort of famous courtroom litigator and champion of democratic ideals. He represented al gore during the 2000 president ial sort of florida recount. He also famously represented the government antitrust case against microsoft. He has had all of these highprofile cases, which has made him arguably the most famous lawyer of his generation. Because of his work fighting on behalf of gay marriage, with ted olson, george bush is a lawyer, george bushs lawyer, they teamed up on behalf of marriage equality. He has become more than just a lawyer, someone who has been revered, particularly among liberals. Julia you said he ran circles around bill gates. Yes. Julia i cant imagine a man capable of doing that. This brilliant courtroom tactician. He has been played in an hbo movie. Books, countless magazine profiles, all glowing until this fall, when his role reversing representing Harvey Weinstein came into the news and all these people who thought highly of him were outraged by his association with Harvey Weinstein. Carol maybe no surprise that he has someone like this in his circle. Talk about the relationship and how it turned into trouble for david boies. We look back, how to the how did the relationship start, what was he working on . They met each other not long after the florida recount. They had lunch, and Harvey Weinstein had a Book Publishing imprint and boies agreed to write a memoir about his legal career. Thats how it started. David also started representing harvey in his brother bob and miramax in various things. When harvey and bob left disney, david represented them. He represented them in various things over the years and the relationship grew closer. In 2012, it becomes more interesting, because david decides to start a film company of his own. In part because one of his daughters had graduated from college and was interested in getting into the film industry. One of his partners and close friends, jonathan schiller, his son was also working in the industry, they thought it would be fun, lets do some movies. What is interesting is, they did some projects together, but in the end, its sort of complicated the relationship with Harvey Weinstein. Client, there a was also a Side Relationship in terms of doing business in the movie industry together. Carol in the Technology Section, crowdfunding and payment firms prevent racists from using their sites and services. Julia that gave one person an idea. His website aims to arm White Supremacists with donations. Facebook and twitter have taken a hard line on banning rightwing supremacists from the platform. Explain why they are not allowed to continue posting. Sites like kickstarter and patriotic, people have been much quicker to boot platforms for spazzing capel ideals and things. Carol but you dont get booted from hatreon, which is a site to raise money for hate groups. Right. They are collecting about 25,000 per month from a few thousand donors, mostly about White Supremacists. Wilson,alk about cody the guy behind it. He is 29, as our reporter reporter adam he is the rare , troll who senses market opportunities. He came to prominence first in 2012 with a Company Called defense distributed, a small enterprise, but it did not have to be that big because it is mostly producing designs for open source, untraceable guns. In 2013, they published plans for a 3d plastic gun at you can make yourself, and therefore a it cannot be traced by the government. The company has also begun selling machines that allow you to make untraceable metal handguns and assault rifles. Julia we get a sense of his political lean. Now he seems to be arming White Supremacists with cash. The Southern Poverty Law Center has told us that the blog hate watch has already become an important tool for White Supremacists to keep themselves fed in lean times. Andrew anglin, the founder of the ultraconservative website daily stoermer, and about neonazi publication, is taking 4000 per month through this website. Richard spencer, the white supremacist leader who famously julia they just advertised. Is this how it works . Like a standard aptreon page, you say, this is what im about, this is what i will be doing, sending money to help me out. Carol legally you can do this. Yes, according to the aclu, as long as these folks are not directly threatening people or inciting violence themselves, then yes, it is perfectly legal. Carol up next, Artificial Intelligence saves over 10 million in wine. Julia and what to do if you are targeted by phantom debt collectors. Carol this is Bloomb