Interview,xclusive carlos slim calls that warren buffett, saying he should put in his own money. It is not a matter of giving. Tonight were taking the fight to hackers. Securityr homeland secretary shows how he is battling cyberattacks with a new kind of insurance for companies. Risk,re is Brand Reputation risk, so you need to look at this not as a technology problem, you need to look at it as is this risk is thi Business Risk. With a are partnering London Syndicate to provide security to mitigate cyber risk. Cyber big as this, global activity is estimated to create annual losses of 300 billion to one trillion u. S. Dollars. What the future holds in cyber security. Step back for just a moment and assess the current threat for businesses such as financial institutions. Well cover jpmorgan and the loss of 76 million households. Their information has been compromised. It is interesting you raise this issue because the actors are pretty much the same. You havessia, iran, activists and organized crime. Depending on where the attacks occur you know what they are focused on. Espionage, sabotage, or if it is just as t mischievous. Clear and revealed that in the home depot it was the first time anyone had seen that kind of malicious code. What about those Companies Money butto spend the not get into the nittygritty of cyber terrorism and Cyber Threats . I think there has been a significant sea change in the attitudes of the executives. I think it is understandable. And thinking lot of them have begun to understand that there are electrons flowing all around the world that connect us. There are zeros and ones on the bottom line. There are so many points of entry into your system. You need to look at your digital infrastructure. These cyber bridges are not a technology problem, it is a Business Risk. Secretary ofe Homeland Security. What do you see as the governments role in securing the intellectual property, the Digital Networks of the u. S. Corporations . A great question. I also chair and work with the u. S. Chamber of commerce and had their Homeland Security task force. We have been working for three years to convince congress that the Corporate Community needs a safe harbor so that they can share information with each other and not be concerned about potential regulations or antitrust violations. The Corporate Community would relevantee timely and and actionable information coming down from those who monitor the private sector networks. We have a lot of alphabet agencies in that space. But we also see some progress. Established some disclosure guidelines in 2007 about information sharing. The standard,ave the voluntary standards set and established by and as a result of the companies with critical infrastructure. You have guidance, a president ial directive, and voluntary guidance regulation. It is in your best interest as an enterprise to accept this as a Business Risk and treated accordingly. Going toe tools were offer the corporate sector as an ability to go in and take a look at your system and how it is functioning without interrupting your process. It is a unique tool, and one of teamedsons that they with us because it is part of their methodology. Do you put your information online, do you believe in a secure . I am a traditional person, ive not into Online Purchases as much as some of the other younger generations are. Everybody gets excited, and they should be about the internet of things. And i know that the internet is full of promise, it is good for businesses. It is also parallels. Thein me is is ubiquity of the internet is a strength, and also its weea kness. When you have 14 billion devices connected to the and a net, and by 2020 it will be 40 billion, a lot of rhombus but also a lot of prayer oh promise but also a lot of peril. Do you have any thoughts on doing more to protect the country from such outbreaks as the ebola virus . Keeping databases, tracking people who may have the symptoms of ebola or even the flight Data Information of passengers . Scenesspect behind the that entities like google or are currently working in contention with the cdc. This is reminiscent of what they were able to do years ago when the were trying to identify certain influenza virus. The cdc got together in a traditional way and it took him a week to 10 days to try to figure out where it was spreading. Through the use of the Information Age and several million keywords, they were able to drill down and present the cdc a pattern to demonstrate were and outbreaks to help them contain it. And that is one of the beauties of the Information Age and big data. That is a plus when it comes to the internet. In the world of big data, how do you protect your privacy . At the day it will not be the data that is out there, and will be who has access to it, how long do they have access to it, and how you use it . Supportgy can government in many ways, but you do not want the tyranny of technology, or the ternium and all part of them to start influencing peoples lives tyranny of an algorithm to start influencing peoples lives. Up, he made over 110 million in his nba career, and then two years after that, he declared bankruptcy. Spenttand how he the money and maybe it wont happen to you. This is taking stock on bloomberg. I am pimm fox. All are. Hreetime nba he scored over 15,000 points. Antoine walker spent his 13 year for fiveaying different teams in the nba. During that career he made roughly 110 million. But just two years after leaving broke. , he was is here to talk about his past, his new movie, and his future. His new documentary is called gone in and in instant in an instant, and it chronicles the fate of that money. Thank you for being here. Not familiar, are take us up from who you are and how you got there. 1990st drafted in experiment was out of the university of kentucky. I was drafted by the celtics and began my journey into the nba, and i was fortunate enough to be up to play 13 years. Championship in 2006 with Shaquille Oneal and dwyane wade. That was an unbelievable experience. The world was mine. It was great, i had a great career, i would never take it back. T was something i will remember for the rest of my life. Dear member the first time you got a big check . You do not get paid until november when you get drafted in june. An artistheck i took a home for my mom and i purchased a home for my mom. It with the team to get a big lump sum of my money up front, but i was able to do that and buy my mother a home. You also help out other members of your family, and you have new friends. I am the oldest of six. I have two daughters of my own. And that i have family and friends who i was very close with. I usually ran with about 89 guys who grew up in the same neighborhood and did things with me. I wanted them to see the same lifestyle that i was enjoying. What was something that you did at that younger age that you look back on now and say you cannot believe you spent the money doing that . I would say a lot of exotic cars, and jewelry. I had a car fetish when i was very young. I had the most expensive cars. Were talking about at least mercedesbenz. T i was into rolex, those type of things. Paid for things for friends. You went places, you went to vegas. Wewe went on lavish trips, would go on vacation, would go to cancun, well go to puerto rico. I would travel with a big group of guys, and play for their flights, hotel rooms, eating on the road. Sue had that combination of things, big bills at the end of those trips. Is there anybody on the team, any Business Manager that says you are a great guy, but the money is not going to last forever . Advisor,a financial but as a young arrogant kid, i did not want to listen to him. I took things in my own manner, and did what i wanted to with my money. I just did my own thing, my own ego. So you decide this is the life for you, and you keep spending the money, but then something happens. It was a combination of things, the lifestyle. I lost a significant portion of money gambling. I lost the bulk of my money investing in real estate, which in 2007 and 2008 we went through the recession. I got caught up in that web, and that ultimately ended the bulk of my wealth. If you add those three things together, they played a huge part in the losing my finances. Now you take this idea that you want to share this story because you are out of that personal bankruptcy and you have a movie called gone in an instant. Tell us about the film. I want to teach people in general about having a lot of money. Different people come into wealth in different areas. I wanted to share my story of going through bankruptcy. I had an opportunity to learn my from my mistakes. I have a book coming out at the beginning of the year, to talk about the trials and tribulations that i went through. I hope people can understand what is going on in life and do the right thing. You do not as thoroughly have to be an athlete. What is the last book you read . Think rich and grow, the black choice. Learning about finances. Going through my process it was a great book for me to read to get myself back together. Spoke to you . Definitely. At home with a lot of financial situations that i did not think about when i was lying and had money playing and had money. Who was your idol . Magic johnson. I wanted to be like him on the court. I was tall for my age. Also what he went through. The way he was so courageous. He had a unique opportunity to be around him, and playing his charity game. I was always looking up to him. We also have three stories that i would like you to read on bloomberg. Com. Timothy geithner today in court aig failg that letting instead of nailing it out might have caused mass and failing ve causedght ha mass panic. If you have ever played fantasies boards, you have a lot of company. There are 40 2 Million People participating in north america. That is according to the Fantasy Sports trade association. The economic effect could be as high as 4 billion, and there is a growing trend in the industry called daily Fantasy Sports. One of the leaders is draft kings. Joining us now from boston is the companys chief executive, and here with me in new york is a former nba player antoine walker. What exactly is draft kings, how does it all work . Thank you for having me. It is a Fantasy Sports website where the games last just one day. Example, this football weekend you would go we in and you would look at the players and you would pick them only for the games that you are playing in today. You can go and play for free, or an amount of money, and you can win anywhere up to 1 million. We had a game last week where you could play for 27, and if you win you got 1 million. You mentioned earlier that you play in fantasy football leagues. But you said it was complicated. Why is that . You have to keep watching the board, jump to trade, you can make sure your players do not get hurt. For the guys and we do it for bragging rights. That is a great thing. We have guys we play golf with, and we all do it for fun. Participating in more because i do not want to keep up with it. When it comes to the financing of draft kings, what you trying to do . You are trying to expand outside of the time frame into a bunch of different sports . Wenttually, i think antoine said is where we feel draft kings has an appeal, to take someone like him who does not want to keep up with it, for this weeky and you win money and you like it, you can come back. It is a perfect fit for those who find it for taking to Pay Attention every day and every week. Financing,stion on we recently raised 41 million, and we are looking to build out our product and continue to expand into new sports. Most recently we launched soccer , which coming off of the world cup has built a lot larger fan base than ever before and we are excited to be introducing that to a lot of new players through draft kings. Next on the agenda we looking at a bunch more sports, but we have not excited exactly which ones yet have not decided exactly which ones yet. Legality of the Fantasy Sports and betting online, what is the position of drafting . Kings. T Fantasy Sports is a game of skill. ,ames of skill are permissible and games of chance or not. And the way they define that as a dominance. If skill predominates over chance, that is ok. And in Fantasy Sports, that is a skill game. You just have to keep up with that, and Pay Attention. And the players that put in time and she is widely choose wisely do very well. Newcan see progress with players that come in as they get better. It is very clearly a game of skill which fits into the definition of what is legal in the united states. Thank you very much. Coming up tomorrow, 5 30 p. M. Eastern, we have our guest at the designer nicole miller. Live from pier three in San Francisco welcome to bloomberg west where we cover technology, innovation, and the future of business. A lawyer suing the government over the right to publish more information about nsa surveillance orders. Twitter says the governments restrictions on what can be public violates the Companies First amendment rights. Other Tech Companies including google have agreed to follow the governments rule. Facebook is going to start targeting users with locationbased ads that will show from businesses within one mile of a u