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tv   Bloomberg Technology  Bloomberg  January 25, 2018 11:00pm-12:00am EST

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alisa: i'm a alisa parenti in washington, and you're watching "bloomberg technology." let us start with a check of your first word news. president trump will cut off funding to the palestinians unless they agree to peace talks. speaking with the israeli prime minister in davos, president trump said palestinian leaders disrespected the united states by refusing to meet with vice president pence. during his middle east trip last weekend. president trump also denies he and theresa may don't get along. he met with the u.k. prime minister today. trump says the u.k. and u.s. share similar ideals. the british government also confirmed president trump will visit the u.k. this year, but did not provide a specific date.
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the senate judiciary committee chair and dianne feinstein plan to release transcripts from closed-door interviews with donald trump jr. and other members of the trump campaign team that attended a meeting with russians in trump tower in june 2016. in southern california, authorities are allowing some residents to return home two weeks after mudslides killed at least 21 people. crews are still working to clear roads of tons of mud, boulders and debris. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this isa parenti and bloomberg and "bloomberg technology" is next. ♪ emily: i'm emily chang, and this
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is "bloomberg technology." coming up intel's fourth quarter , win despite disclosing problems with its chip line. why meltdown and specter made little impact on the bottom line. plus, robin hood moves its commission free trading model into the cryptospace. but will its army buy in? that is ahead. first to our lead. intel shares gained about 4% after the company released better-than-expected mornings for the best after the company released been are that it -- better than expected earnings for the fourth quarter of 2017.
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for now, vulnerability may be helping intel as computer owners retire older systems upgrade. joining us now is our bloomberg editor at large cory johnson. the stock is up. how surprising is it? cory johnson: if this company can grow by 20%, which is what you saw in this quarter, it bodes quite well for this business. the pc business shrunk by 2%, but the margins are much better in the growth and data center in data center was roppingly fast. amazon has great growth. microsoft is even better. all the chips in the industry, that is fantastic news for intel. emily: what are they saying about the chip flaw?
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>> the chip flaw really didn't get public until the beginning of this quarter, so it is not a surprise there was no impact in q4. even looking forward, obviously this is an industrywide issue. intel is working hard to fix it. i think in the long run they are going to be ok. short-term there could be some issues, as you mentioned. there are some performance issues they are dealing with but they are getting better. and intel owns a huge part of , the data center market. not quite all of it, but the vast majority. cory johnson: only 90%. emily: do you agree with will not see a big impact from this in the ensuing quarter? bob: sure. i think it is a big deal. cory johnson: one of our producers produced this. great package about the security flaw. how many companies today are developing their own processors? it is an amazing notion, unimaginable 10 years ago, that google, apple, facebook, and amazon web services, four of the
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largest data center builders, are developing their own semi conductors for something. the notion that they would go in and white box chips is crazy considering how difficult it is to make a semiconductor. to make a semiconductor better than intel is an audacious notion. that could be competition way down the line, but not this quarter or this year. bob: exactly. what we are also seeing is an expansion of where those semiconductors are going so that traditional core data center business, intel can have a piece -- the other companies can have a piece of and there's all this edge computing stuff. they are going to extend to the cloud and the edge. apple is developing for that, but other guys are going to develop for other kinds of the
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-- other kinds of devices we don't even know what they are. intel is the biggest player in the chip business, for the big players -- emily: trying to buy qualcomm. bob: right, but the big chip players are doing well. we are starting to get intelligence embedded into our microwaves, and everything. obviously automobiles and all the developments there. because there are so many different places this stuff is going, the iot market, all of that creates data to which creates demand for data centers. i will say one thing to what corey said. yes, intel had amazing growth, but let's be honest. i think that maybe hard to replicate on and on. cory johnson: that is why i said -- if they can keep doing this. i don't know if we can. promise not going to
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20% growth. acquisition was a really expensive deal. all those little chips you are talking about, that business had 20% year-over-year growth. they are growing in iot also. it is a very serious business. it is not the size of their pc business or data center business, but still, $3.2 billion which is about 1/10 of their total business, and a big deal. emily: they have said they have made progress on the security flaw. you wouldn't expect them to say much else. they are increasing the dividend. talked about the data center business. what are the other highlight he would pull out of this report?
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bob: the pc business wasn't down as far as people thought it would be, so that it was a good sign. we expect it to bottom out, and we see a solid base. things like mobile ai, neural network-based chips, video processing-based chips for ai and machine learning, those businesses are tiny now but they are going to grow long-term. that is what the company is trying to do, brought the reach of technologies that can influence. emily: bob o'donnell and our own cory johnson, thank you so much. make sure to tune in friday for cory's interview with intel's cfo. apple is getting ready to take on amazon in the e-book business again. in 2012, the justice department sued apple and book publishers over the first effort.
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that resulted in a $450 million fine. this time apple is working on a redesigned version. amazon has just over 83% of the e-book market in the united states. amazon is in talks to buy box.com according to a report in "the new york post." this comes as a grocery store chain kroger also showed interest in the company, known as the cosco for millennials. if amazon does make the purchase it would shut out kroger from , getting a foot in the e-commerce space. coming up, robin hood financial is getting in on the crypto craze by launching trading for bitcoin and etherium. we will speak to the ceo next. this is bloomberg. ♪
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emily: robin hood financial, which makes a free stock trading app, is launching trading for ethereum an bitcoin -- and bitcoin next month. it comes with a lot of risk. we are joined now by the cofounder and co-ceo of robin hood financial. thank you so much for joining us. how challenging was it getting this off the ground? guest: we have been working on it for the better part of the year, starting the beginning of spring last year. the technological work we have done on our equities business, which made it more straightforward, there were business and regulatory pieces we had put in place. banju: we actually are pretty happy to have other market participants in this industry. i think if cryptocurrencies are going to live up to their full potential, we are excited to
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have other people in this industry as well. we are very good at building consumer products. we've done an amazing job of introducing a new generation of consumers to the equity market. we think we can do a great job here as well. emily: companies like coinbase have had a lot of issues with support and load times. are you worried about that, and what are you doing to prepare? banju: up time and availability is something we take incredibly seriously. as a broker dealer we are held , to an incredibly high standard where we have basically zero downtime as acceptable. we offer tens of thousands in securities and u.s. equities, maybe hundred thousand stock options on top of those. we have a lot of expertise doing that, and we are excited to be able to offer that same time for cryptos. emily: what is your outlook on bitcoin and cryptocurrency? are you worried that you missed the cut?
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banju: i think one of the things that makes this really exciting for us is the inevitability that cryptocurrencies have. there have been a couple of times the last decade were to -- counted it out or down, but each time it has come back. we think that gives it really long staying power. emily: how big a revenue driver will this be for you? banju: we are offering cryptos commission free on robin hood. we see a way to accelerate user growth. our primary interest in this is to see how much we can add to the baseline growth. with the current business, we plan to break even. emily: you get fascinating data on what kind of stocks users are buying. what trends are you seeing that are the most surprising? banju: the trends that have been pretty consistent over the past few years on robin hood is a lot of interest among younger consumers in companies like apple, tesla, facebook, the really big consumer brands. i think it is very interesting to see. emily: but not necessarily
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that surprising. banju: maybe not that surprising. emily: talk to us about bigger picture growth. you talked about 3 million users, up against some bigger players. how do you get a piece of that pie? banju: we stay very mission driven. the point of robin hood is to build a different kind of product services company, getting the benefits of the financial services company to the rest of us. for too long the finance industry has been one that helps people that have more money be better established. if we stay true to that mission it tends to be a really good guideline. there are so many consumers in this country that would love to be a bigger part of the system. each time we offer a new product, whether it be commission free stocks and etf, commission free options we announced in december, and now commission free crypto trading, anytime we open a new market. emily: what is next? will you try to raise new funding?
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will you look for a buyer? what do you see in robin hood's future? banju: we would like to go public one-day. the time horizon is still the next few years, but we are quickly becoming one of the largest broker-dealers in the u.s. with adding cryptocurrencies and all this other stuff, we are on the after doing that. emily: are you profitable, or will you be soon? banju: we are not commenting on that now, but we will be soon. emily: thank you so much for stopping by. coming up, the world according to george soros. the billionaire investor speaking from the world economic forum in davos, saying facebook and google deliberately engineer addiction to the services they provide. we will hear from him next. if you like bloomberg news, check us out on the radio, the bloomberg radio app, bloomberg.com, and sirius xm. this is bloomberg. ♪
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emily: breaking news from president trump at the world economic forum in davos, saying he will support a path to citizenship for 1.8 billion -- 1.8 million so-called dreamers, saying he would double the pathway for folks qualifying under the daca provision. we will continue to cover the story. more headlines crossing the bloomberg. in the meantime, at the world economic forum we have been speaking to the biggest ceos and world leaders from around the globe. bloomberg's haslinda amin sat down with one who says companies need to fight cybersecurity like
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a disease. guest: you have to stay on top of it all the time. there is no end in sight. you have to be vigilant. the threat factors continue to increase. we have improving, but not perfect, cooperation between companies. we have improving, but not great, corporation between governments and other governments, and it is a global problem. if you solve that problem in one particular country or server, how do you make sure everybody else has an opportunity to understand that threat factor has been solved? haslinda: why have governments and companies been so slow to rectify the issue? guest: it is incredibly complex, first of all. if you are a public company, and you have been compromised, you have a duty to care to your shareholders and customers, and you want to be thoughtful about that before you disclose it. to the extent that you do disclose it, you want to make
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sure you are indemnified because you have been helpful, you don't want to be penalized because you been helpful. there's no real regulation rules that have caught up to the constant attack we are seeing from multiple different threat vectors. haslinda: we have the intel chip disaster. how will that impact cloud computing? guest: i think every vendor immediately started doing patches and remediation. i think testing has gotten better with respect to ensuring you have these type of threat vectors marginalized. you're never going to be 100% sure that you're not going to be infected, so you have to be on a regular basis. i was in a meeting this afternoon where we started talking about sharing what we were seeing in different processes and procedures. one thing i am not sure people understand, i think more people
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die from the cold then other infectious diseases. there are more very violent security attacks from very simple fishing and lack of duty of care on an employee that answers an email incorrectly or doesn't apply the appropriate patch, or a complex infrastructure that doesn't understand you have to do this process before the second process. these are all things that are relatively easy to vaccinate on. it we can get just that done, i think we will really tamp down the threat vector. haslinda: do you think we will see more? guest: do i think we will see more problems? unfortunately, yes we will. you have to understand that you are only as strong as the weakest link in the chain. although you might not see that particular problem again, or a variant of that particular problem, when you take a look at
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the different constituencies that are attacking, you have criminal activity, nationstate activity, and just plain malicious activity. each one of these actors, the barrier to entry or would it -- or what it costs for them to do the hack is relatively low. what it costs for us to protect it is relatively high. we have this economic impasse where until we make it very difficult for them to hack, i think it will continue to be creative. haslinda: ai is transforming the way we communicate, do business, yet only 10% to 15% of ceos know what the next big technology investment would be. for those who do not have a clue where their money should go, where should it go? guest: security first. i would make sure whatever you are doing, you feel you have done everything you possibly can to protect your assets from
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cyberattack. if you don't do that, i think you'll be put at risk. no matter what great ideas you have, it may never get realized. secondly i would take a look at data analytics and big data, and start mining that data to understand your customers or employees or partners. haslinda: 30% of data goes unused. guest: that is why we have to get more automated and ai comes into the picture. you have to remember big data , and ai are super close cousins. algorithm that has limited data, i think you are going to have a very weak learning algorithm. emily: ca technologies ceo mark gregoire there. we are getting more headlines about president trump supporting more so-called dreamers, these are children brought into the united states as immigrants. three white house officials confirming that president trump would sign an immigration plan into law that would get as many
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as 1.8 million of these dreamers a pathway to citizenship. this would be some sort of concession to democrats. we will continue to monitor these headlines as they come in. meantime, back to davos, and billionaire investor, george soros. talking about social media giants. george soros: they claim they are simply disseminating information. but in fact, they are public utilities, and they will be subject to more stringent regulations for opposition, innovation, and fair and open universal access.
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emily: here is what he had to say specifically about facebook. george soros: the network effect is truly unprecedented and transformative, but it is also unsustainable. it took facebook 8.5 years to reach the first one billion users, and half that time to reach the second billion. at this rate, facebook will run out of people to convert in less than three years. [laughter] emily: george soros went on to say that facebook and google foster addiction and risk and -- and risk and powering state-sponsored surveillance. we will be talking a lot more about tech addiction.
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former apple executive who believes all of these tech companies have a real problem. this is bloomberg. ♪
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>> it is 12:30 p.m. in hong kong. the banking and insurance regulators have been called to organize against risk. they are drafting a plan to combine the two commissions under a single umbrella. this has been a priority for the president. the dollar strengthened after president trump says he wants a strong currency. he says steven mnuchin and's apparent support for weakness was taken out of context and he expects the currency to rise. steven mnuchin and says he has not shifted his position and he supports a floating dollar. inflation seems to have stalled
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in japan with prices rising last month at the same pace as in november. with c.p.a. not even halfway to no signarget, there is that policymakers will pull back from their unprecedented stimulus program. >> i think it will peak somewhere towards the end of the year. i would expect the yen to 100 at the end of the year. debra: global news 24 hours a day powered by our 2700 journalists and analysts in more than 120 countries. this is bloomberg. let us check on how the markets have been trading in the asia-pacific today. here is juliette saly. mixed buta little bit we are on track for a seventh weekly gain in asia. it is look at some of the major
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markets. the hang seng coming back after the selloff yesterday's a redeeming the strong rally. the hang seng is up by 1.3%. we have seen a good move coming through in the age share index -- in the h share index in china. recouping the losses heading into the lunch break. new zealand closed out the session lower why 0.7% and some weakness coming through from the nikkei. that is the dollar story. looking at commodities. the move into gold. up by around a third of 1%. moves in some strong korea on reports that they are going to split off their online business and merge them. to the downside are a lot of korean stocks because we have had some disappointing fourth-quarter earnings.
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many companies are talking about the strength of the korean wan. look at the currencies, the korean wan is down. to thecounting down opening at the top of the hour. this is bloomberg. ♪ emily: this is "bloomberg technology." i'm emily chang. back to our top story. intel out with an update, even as the entire chip update scrambles to fix a vulnerability. the stock gained 27% in 2017, lagging behind the 38% advance in the philadelphia stock exchange semiconductor index. he spoke, saying the company has made progress on the security issue and still has a lot of work to do. the call is still underway. the company saying it fully expects to be profitable for the whole year of 2018. well, the topic of tech addiction is grabbing the
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attention of parents, teachers, and even tech giants. this includes consumer hardware veteran, tony fadell. serious concerns continue to circle the tech industry about being addicted to your smartphone or being absorbed by social media. we sat down with the formal apple and alphabet exec and asked fadell how he is handling this issue as one of the creators behind the original iphone. tony: i look at this as a set of unintended consequences that allowed kids and adults -- this is not just a kid thing. to be on them all the time if they so choose. so, what we do is we have things like tech-free sundays, where the family is off of electronics, including the parents, and we do other things together. not that tech is bad, but there are times when we should be face-to-face and talking about things and doing things together without screens sometimes coming between us. we do that. we have screen time limits. it's difficult, because we don't have many controls today to do
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that. we also look at our behaviors with screens at night. are the screens in the kids' rooms, the parents' rooms? these kinds of things, to understand moderating use of these devices. emily: what do you think the actual impact is on adults and, more importantly, on children? tony: i'm not a researcher. i'm not a doctor. i'm not looking at it as an addiction, per se. i've had friends and kids with addiction issues. as well as adults with digital addiction issues. but i look at this as, we need to have tools and data, information, to allow us to understand how we consume digital media. and if we look at this and draw the parallels with something like food, think about food. today, we have scales so we can
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measure our weight. we have nutritional information on the side of boxes, so we know what's in there. we have programs to allow us to control our eating habits. we have definitions for words like, what's a protein? what's a protein in the digital world? is a protein a digital educational app? is a sugar social mobile app? is something like water like the camera app? these are the kinds of things where we need to build nomenclatures around these kinds of habits and start to talk about them, instead of just saying it is addiction or not. it is lots of usage or not. we need to get finer-grain language and start to understand that the iphone is just a refrigerator. it isn't the addiction. it delivers food, and we can then choose to pick what we want, what the protein -- what's a protein or fat, then hopefully consume it in the right
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portions. then we have a scale to measure ourselves for seeing how much we have consumed each day or each week. emily: the business models these companies are predicated on is how long we use their products. do you think facebook should tell us how long we have been using facebook? should apple tell us how long we have been using the iphone? tony: not all of the business models are based on how much screen time you have. some are, and some are not. you have to look at the individual business and figure out what their key metrics are for how they drive their revenue. i know, back in the day when i was at apple, that was not a revenue driver, how much screen time people were using. for apple, it's more about selling more devices. if you think about it, i think that users will buy more devices if they have the information and control over those devices. i know a lot of parents consider, should i buy them a smartphone or not, should i buy them a tablet or not.
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they would buy multiple devices if they knew they could control them. today, they are wary, because they have to collect all these devices before they go to bed. i have to set controls on all of them. the controls become cumbersome. extra devices become cumbersome. that's limiting to business potential for a device manufacturer like apple. emily: what about facebook, where the business literally is the more you use facebook, the more ads we can show you, the more money we can make?\ tony: i think about facebook. first, my kids are under 11. they do not have facebook accounts. they don't have any kind of social mobile accounts. not allowed. our family doesn't use them. but at the end of the day, you need to look at the content of that social mobile app. what is a protein? i think there is a great protein inside of facebook where you can connect with your family and friends and share stories. is there a nicotine or sugar component where there are
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stories and other ads to distract you? i think we need to look at each app and think about its benefits and its distractions. if you think about it, you know, i get all kinds of different email to get me to reengage with certain apps or notifications like, did you see so and so posted on this? those are interruptions. those are dopamine hits to get you to use the app more. this is something social mobile apps want you to engage with. it also happens with youtube. it also happens with games with in-app purchases, games that need you to stay around a long time to use them where there are advertising-driven models. we have to look at each app and understand what is good about it, what's not good about it, where's the interruption, and then be able to set for -- assess for ourselves which apps we want to put on our phones and tablets, as well as our kids'. emily: have you had any personal
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moment of guilt, like a frankenstein type moment, where you said yourself, oh, my goodness, what have we built? tony: at the end of the day, you look around and go, my god, a massive amount of the population has a smart phone. you are in awe of that. there are unintended consequences that come with these kinds of things and we just need to work on them. there were app stores. we have great app stores today. when you look at the app stores, there are certain things inside of an app store and certain things that are not. there are not gambling applications. there are not kinds of applications you can get addicted to losing your money. we also have to think about that in terms of, like i said, these social mobile applications or some of these other ones that have different, not beneficial customer metrics for their revenue. i always worry about how to
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improve the technology. in this case, we have unintended consequences. these are easy problems for the platform companies like apple and google to solve. this is not like self-driving cars. this is 10,000 times easier to implement and cheaper, but it can give lots of control and in still consumer loyalty and trust in the brands for their families and themselves if they can get information and control over their digital consumption. emily: so, give me some specifics. what do you think apple and google should be doing? tony: well, specifically, the first thing is they already have all the information across all the devices that you use, so you can have an iphone, ipad, apple tv, mac laptop, and between all of those things, they know how much we are using, how much we are emailing, texting, browsing. they can give us back a calendar
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of events, just like they do on the apple watch, for how many steps, how well we sleep, how our heart rate is doing. it could do the same thing and give us our digital information and metrics about our day in the life of the digital world. it should be a combination in a calendar. showing a history of physical use, as well as physical use of our body as well as digital use of our devices, so we could see how much we are using these devices, and then moderate our behavior. oh, that seems like we are doing too much. or in my case, i'm not using my french language app enough to learn french. i would love to be able to set goals and set controls on this data to allow me to specifically control how i use these devices. i would like also a way to set my device so when i'm listening to music i'm not interrupted, being buzzed, or another notification coming in. i just want to enjoy my music without interruption, like i did
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in the old days with the ipod. or when i'm reading, i don't want to be disturbed. but today we have all these different notifications coming in, all these different interruptions. i would like a single-focus device sometimes. i would like to say never give me this notification ever again. when that happens across all of the platforms, so that i don't have to get disturbed about it and i don't have to go to every single device to turn off these notifications. emily: you're not just anyone, tony. you could probably get tim cook on the phone in 10 minutes. have you told this to him directly? tony: i've told it to multiple people inside of apple, and i look forward to talking to tim about it as well. so, i'm looking forward to that conversation. emily: that was nest co-founder tony fadell. coming up, she is one of the most high profile female venture capitalists in technology. we will talk to aspect ventures
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jennifer fonstad about the fundraising environment. and diversity. this is bloomberg. ♪
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emily: aspect ventures has a broad portfolio. it hit a milestone this week, raising $181 million for its second fund. it has a high profile backer in melinda gates. it is the biggest vc fund created and run by women. jennifer fonstad joins me now here in the studio. i remember when you and teresa came on the show, talking about raising your first fund. i'm so curious how the landscape today is different, if it is any different. how did this fundraise compared
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to the last? jennifer: we were very lucky. we had a number of -- all of our fund one investors came forward and participated in fund two, with the addition of a couple new investors, with the addition of melinda gates. our story really resonated with her. our track record resonated with her. she joined, as well as cisco systems. emily: melinda gates is obviously melinda gates. what does she bring to the table? jennifer: she has been vociferous in her support of driving diversity into the tech community, focusing particularly on women. our fund is founded by women, but we are gender-neutral in how we approach. as a result of our networks and how we think about building teams and how we think about how important culture is in building teams, our portfolio itself has become quite diverse. our fund one portfolio is about
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40% women founders, has a woman as a founder, about 30% minority, and 50% are immigrants or children of immigrants. emily: so, that was my next question. if there were more women investors out there, how would the companies that get funded be different? we might see greater diversity of the people getting funded, but what about the kinds of companies? jennifer: that's a great question. what we believe is -- we see ourselves more as a next-generation firm, which is focused on investing in companies that are more reflective of the communities in which we live, as well as the customers. there is a lot more customers, women, minorities, immigrants, who are the consumers. we see the real opportunity and the real competitive advantage
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we have is in having these broader networks is by investing in more diverse companies with portfolios that reflect the underlying communities in which they are operating, so they will be more successful and deliver better returns. emily: what's the sense you're getting from lp's, the investors who invest in venture capital funds, about how much they care? my understanding is that lp's haven't cared about diversity very much. they cared about returns. is that changing? jennifer: we think you will have better returns by investing in diverse companies. a number of studies have shown that. everything from mckinsey demonstrating women run companies with 15% better performance. minority-run companies, 35% better performance. google has done a lot of research around this, to find better performing teams have more diverse teams in them. the thesis we continue to that we continue to understand, which melinda appreciates, it delivers better returns over time in our portfolio.
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we have a 20-year plus track record of delivering strong returns in the tech community, and we think this will give us an additional edge. emily: there have been a lot of revelations about sexual misconduct in the vc community by male investors often geared toward female entrepreneurs. there has been talk of a third-party hr organization where people could file complaints. what progress is actually being made? jennifer: there is a lot of interest across the community by men and women to really try and drive this out of our communities. there are a number of ideas, and there is a working group that -- several working groups that are coming at this, men and women involved, who are approaching it from an hr challenge to enable third-party access for those who feel harassed that could approach that group. we've talked a lot about delivering pledges.
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i think all of these things really are important and critical and we are still at the early stages of many of that, but i also think it is about building strong cultures from the ground up. some of the most successful companies, athena health, they did a fantastic job of building a very cohesive culture that allowed strong voices and diverse voices to come forward. ultimately, better decision-making is when you're working in a safe environment where you're considering diverse opinions, and those are being considered in that final decision process. we think that will drive change in our community. emily: what sectors are you interested in right now? you are investing in solar, in space, in electric cars. what do you think are the hot sectors of the future? jennifer: we have about 1/4 of our portfolio in cybersecurity, fund one, and we expect that would be a big thing. in davos, it is continuing to be
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important, a global thesis. we have a lot of experience in looking at cybersecurity from a number of different angles, from iot to the threat vectors and different dimensions, so that is a key area for us. ai is another area where we have been doing a lot of investing. we think using machine learning as an adjunct really can drive better outcomes for those companies and better experiences for the end consumer. those are some of the areas. blockchain is another one we are looking at, but primarily around solving business problems. those are some acid-based plays you are seeing. emily: thank you for joining us,
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jennifer fonstad. still ahead, watch out, waymo. apple is expanding its self-driving test fleet in california. we will have all the details. this is bloomberg. ♪
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emily: a story we are watching -- google has reached out to jake sullivan, a former deputy chief of staff to hillary clinton at the state department, in its search for a new head of international policy. he is one of more than a dozen contenders. the discussions may not result in a job offer, according to people familiar with the matter. its peers are wrestling with the best strategy to deal with regulatory threats in congress, republican-controlled congress, and the white house that is suspicious of the industry's rising power. apple is expanding its california self-driving test fleet to 27 vehicles as it accelerates efforts to catch up with competitors like alphabet's waymo. ceo tim cook acknowledged for the first time in june that the
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company had a team developing autonomous technology. broadcom's bid for qualcomm got opposition from three of china's biggest smartphone makers. they are concerned r&d may suffer should broadcom dominate the market. broadcom is confident the deal will go through in the next 12 months, saying there is no antitrust issue that couldn't be resolved. that does it for this edition of "bloomberg technology." a reminder we are livestreaming , on twitter, 5:00 p.m. in new york. that's all for now. this is bloomberg. ♪
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retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
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