Latest Interviews
Showing 91–105 of 573 interview transcripts.
Clear all filters- Goldman Sachs30 min
Alnylam’s Yvonne Greenstreet on RNAi and a ‘golden era’ in biotech
Alnylam Pharmaceuticals leverages a decade of RNA interference research to achieve a 55% clinical success rate and recently secured approval for Amvutra to treat hereditary transthyretin-mediated amyloidosis. Under CEO Yvonne Greenstreet, the company aims to become a top-five biotech leader by 2026 through a five-year strategy to deliver 25 clinical programs and expand into common diseases like hypertension. To reach this goal, Alnylam integrates AI-driven drug design with a culture of diversity and patient advocacy to de-risk development and target tissues beyond the liver, including the central nervous system.
- Goldman Sachs24 min
How AI, tariffs, and the energy transition are reshaping infrastructure investing
Large institutional investors have allocated 6% to 7% of assets to infrastructure, a sector that generated nine percent returns since 2022 while evolving from traditional transport dominance to focus on energy transition and digital assets like AI-driven data centers. Goldman Sachs identifies key opportunities across four segments, noting that solar plus storage is now cost-competitive and that European markets are gaining traction due to Germany's massive infrastructure plan, despite geopolitical and liquidity risks in specialized areas. To capitalize on these secular trends in decarbonization and digitalization, investors utilize closed-ended funds targeting mid-teens returns or evergreen vehicles for long-term capital appreciation.
- Goldman Sachs22 min
A world of opportunity: Rob Citrone’s best ideas
Rob Citrone, Tony Pasquariello
Discovery Capital Management founder Robert Citrone outlines a macro strategy delivering 50% annual returns in 2023 and 2024, driven by high-conviction short positions in U.S. regional banks and a bullish thesis on Latin American markets. Citrone forecasts a "fake recession" in the U.S. before a 2026 boom fueled by tax cuts, predicting higher Treasury yields and resisting near-term Fed rate cuts while championing Argentina's fiscal reforms as a prime investment opportunity. The firm combines Julian Robertson's stock-picking with George Soros's risk management, leveraging a unique 24-hour trading cycle and direct global policy access to capitalize on emerging political shifts and market inefficiencies.
- Goldman Sachs25 min
Is Fed independence at risk?
Richard Clarida, John Cochrane, Alison Nathan
The Trump administration is actively pursuing legal challenges to overturn the *Humphrey's Executor* precedent, aiming to eliminate "for-cause" protections for Federal Reserve officials and subject them to direct presidential removal. While structural checks like the Federal Open Market Committee's voting system and Senate confirmation remain, this strategy threatens to destabilize financial markets by introducing uncertainty over the central bank's ability to maintain price stability. Experts warn that removing these independence safeguards could distort inflation expectations and encourage mission creep, as the Fed faces pressure to expand beyond its statutory mandate into areas like climate risk and housing policy.
- Goldman Sachs42 min
Harvard’s Raj Chetty on upward mobility in America
Research by Dr. Raj Chetty and the Opportunity Atlas team reveals a sharp decline in intergenerational income mobility, with the likelihood of children out-earning their parents dropping from 92% for the 1940 cohort to roughly 50% for those born in the mid-1980s. The analysis identifies four primary drivers of upward movement, with cross-class social capital acting as the strongest predictor, while highlighting successful local interventions like Charlotte's $160 million investment and Vaughan College's model that combines high access with strong technical outcomes. These findings suggest that targeted strategies integrating financial aid with social support can effectively reverse trends of regional inequality without relying solely on broad federal policy changes.
- Goldman Sachs24 min
Repricing risks post tariff truce
Tony Pasquarello, Dominic Wilson, Josh Shiffrin
A panel of analysts forecasts a low but non-zero recession risk while projecting 1% growth amid a "higher inflation, lower growth" environment driven by effective tariff rates of 12% to 13%. The Federal Reserve is expected to cut rates in 2025 if unemployment exceeds 4.5%, potentially ushering in a dovish regime that supports equities despite narrow paths constrained by bond market volatility and deficit concerns. While U.S. dollar depreciation may cushion equity performance, the discussion concludes with a cultural segment where Josh Shiffrin and Dominic Wilson critique the narrative outcomes of *Lost*, *The Shining*, and *The Departed*.
- Goldman Sachs42 min
From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager
TCW President and CEO Katie Koch, a former Goldman Sachs CIO with two decades of investment experience, is steering the firm's strategic evolution from its fixed-income heritage into private credit and ETFs to address a shrinking public market landscape. Leveraging significant dry powder during recent market dislocations, Koch emphasizes a culture rooted in integrity and psychological safety while executing active management strategies designed to generate outsized returns for institutional clients. Her leadership philosophy blends operational discipline with personal values regarding resilience, aiming to provide holistic investment solutions that allow borrowers and investors to navigate volatility across both public and private asset classes.
- Goldman Sachs25 min
Wise Founder Taavet Hinrikus on Europe’s Tech Renaissance
Taavet Hinrikus, Clif Marriott
Tavit Tammemäe catalyzed Estonia's transformation into a European tech powerhouse by co-founding Skype, which triggered a wave of successful exits, and later launching the fintech unicorn Wise. Transitioning from operator to investor, he founded Plural in 2021 alongside four other former European CEOs to deploy €500 million in Fund II toward complex, high-impact sectors like defense and healthcare AI. The firm targets "obsessed" founders capable of building $100 billion companies, aiming to replicate the scalability of Skype and Wise within the European market.
- Goldman Sachs22 min
AI Exchanges: How tech giants are navigating the AI landscape
Eric Sheridan, Allison Nathan, George Lee
Major technology giants are sustaining record capital expenditures through 2025 to solidify AI infrastructure dominance, with Goldman Sachs projecting this peak intensity to slow in 2026 despite tariff-related cost increases. Executives from Meta, Alphabet, and Amazon characterize the sector as being in the early innings of a third computing shift, prioritizing defensive positioning and infrastructure monetization over immediate application-layer profitability. Although investor sentiment remains bifurcated by macroeconomic risks, current valuations reflect a strategic reliance on these incumbents' unprecedented balance sheet scale to navigate the transition from raw training to commercial deployment.
- Goldman Sachs37 min
Nasdaq CEO Adena Friedman on the future of public markets
Adena Friedman, John Waldron, Allison
Led by CEO Adena Friedman, the NASDAQ has evolved from a US electronic stock exchange into a global technology platform supplying critical infrastructure to 130 markets while prioritizing liquidity, transparency, and anti-financial crime solutions. The organization recently navigated record trading volumes and leverages hybrid cloud architecture and generative AI to enhance market resilience, with a specific strategic focus on the anti-financial crime sector following the Verifin acquisition. Looking forward, leadership advocates for structural regulatory reforms to reverse the decline in public listings and attract capital back to public markets against the backdrop of rapid private market growth.
- Goldman Sachs26 min
Will tariffs lead to a recession?
Paul Krugman, Jan Hatzius, Oren Cass, Allison Nathan
Prominent economists Paul Krugman, Jan Hatzius, and Oren Cass debated the Trump administration's historic tariff expansion, which Krugman identifies as an unprecedented economic shock and Hatzius projects will reduce GDP growth by two percentage points while raising recession probabilities to 45%. While Krugman warns that policy uncertainty will stifle business investment and Hatzius cautions that the Federal Reserve faces a difficult trade-off between inflation and stagnation, Cass argues the measures represent a necessary structural correction to global supply chains that will eventually stimulate domestic production. The panel concluded that although immediate data lags obscure the full extent of damage, the severity of the downturn will ultimately depend on the Federal Reserve's ability to balance conflicting price and employment mandates against a backdrop of rapidly shifting trade policy.
- Goldman Sachs42 min
Warburg Pincus CEO Jeffrey Perlman on navigating a trickier private equity environment
Warburg Pincus CEO Jeffrey Perlman, who succeeded Chip Kaye in September 2025, outlined the firm's strategy to navigate a structural interest rate environment and declining performance persistence by leveraging a $45 billion distribution record and a "diversification by design" approach. The discussion highlighted the firm's 30th anniversary expansion in Asia, where shifting from minority stakes to majority control aims to capitalize on two-thirds of projected global growth despite tariff disruptions. Looking forward, Perlman emphasized the transformative potential of Artificial Intelligence in deal sourcing and operational efficiency while reinforcing a culture that prioritizes the institution over individual legacy.
- Goldman Sachs27 min
Is the market underpricing recession risks?
Tony Pasquarello, Josh Schifrin, Dominic Wilson
Following a pause on reciprocal tariffs that reduced immediate policy risk, analysts warn that recession fears remain significant and underpriced despite recent market rallies. While the U.S. dollar is entering a projected structural bear market over the next 6–12 months and oil faces downward pressure from disinflationary tariffs, equity volatility is expected to persist until clear trade outcomes emerge. Federal Reserve rate cuts will likely wait until deep financial stress or labor market cracks appear, with Chair Powell emphasizing the need to avoid unanchoring inflation expectations before acting aggressively.
- Goldman Sachs20 min
The case for private credit
James Reynolds, Lotfi Karoui, Alison Nathan
With private credit assets expanding to $2.1 trillion, the sector has evolved into a dominant financing alternative for private equity and sub-investment-grade borrowers, driven by institutional investors seeking inflation hedges and floating-rate yields. Despite limited historical recession data, the industry demonstrates resilience through superior creditor coordination and regulatory leverage caps that mitigate systemic fragility compared to the pre-2008 banking system. Looking forward, senior direct lending and flexible capital solutions in Europe and the U.S. present primary growth areas as traditional bank underwriting retreats, while emerging distressed opportunities in cyclical sectors offer avenues for debt-to-equity restructuring.
- Goldman Sachs36 min
The recession question
Jan Hatzius, Dominic Wilson, Alison Nathan
Goldman Sachs has revised its U.S. economic forecast from optimistic to pessimistic, estimating a 45–50% recession probability as average tariff rates climb to 15–25%, which simultaneously drives inflation higher and suppresses growth. The firm projects the Federal Reserve will cut rates by 75 basis points in the near term if a soft landing occurs, though deeper cuts may follow if economic deterioration accelerates. These policy shifts coincide with a paradoxical market environment where Treasury yields and equity volatility rise, the U.S. dollar weakens against major currencies, and global growth forecasts turn negative across 21 of 25 covered economies.