The Senate JudiciaryCommittee Chair and Dianne Feinstein plan to release transcripts from closeddoor 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 im emily chang, and this is Bloomberg Technology. Coming up intels 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 betterthanexpected mornings for the best after the Company Released been are that it better than expected earnings for the Fourth Quarter of 2017. 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 . The chip flaw really didnt 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. Shortterm 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 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 theres 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 other kinds of devices we dont 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 lets 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 dont know if we can. Promise not going to 20 growth. Acquisition was a really expensive deal. All those little chips you are talking about, that business had 20 yearoveryear 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 wouldnt 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 . Bob the pc business wasnt 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 networkbased chips, video processingbased chips for ai and Machine Learning, those businesses are tiny now but they are going to grow longterm. That is what the company is trying to do, brought the reach of technologies that can influence. Emily bob odonnell and our own cory johnson, thank you so much. Make sure to tune in friday for corys interview with intels cfo. Apple is getting ready to take on amazon in the ebook business again. In 2012, the Justice Department sued apple and Book Publishers over the first effort. That resulted in a 450 million fine. This time apple is working on a redesigned version. Amazon has just over 83 of the ebook 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 ecommerce 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. 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 coceo 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 have other people in this industry as well. We are very good at Building Consumer products. Weve 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 . 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 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 . Will you look for a buyer . What do you see in robin hoods future . Banju we would like to go public oneday. The time horizon is still the next few years, but we are quickly becoming one of the largest brokerdealers 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. 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 socalled 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. Bloombergs Haslinda Amin sat down with one who says Companies Need to fight cybersecurity like 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 sure you are indemnified because you have been helpful, you dont want to be penalized because you been helpful. Theres 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. Youre never going to be 100 sure that youre 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 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 doesnt apply the appropriate patch, or a complex infrastructure that doesnt 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 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 cyberattack. If you dont do that, i think youll 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 socalled 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 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. 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 statesponsored surveillance. We will be talking a lot more about tech addiction. Former apple executive who believes all of these Tech Companies have a real problem. This is bloomberg. 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 ands apparent support for weakness was taken out of context and he exp