Latest Interviews
Showing 1–15 of 253 transcripts.
Clear all filters- Goldman Sachs32 min
Steven Tananbaum: The Evolution of Credit Investing and AI Opportunities
Steven Tananbaum, John Waldron, Steve Tenenbaum
GoldenTree Asset Management founder Steve Tenenbaum outlines current credit market risks driven by AI adoption, noting widened spreads for entities like SpaceX alongside his firm's evolution from post-2008 distress turnaround strategies to targeted 3.0 platform acquisitions. He details the firm's disciplined investment process, which prioritizes specific catalysts and strict asset coverage ratios to navigate complex environments like the 2020 oil services and European bank sectors where the firm generated billions in returns. Looking forward, Tenenbaum identifies dispersion caused by AI disruption as a key driver for new opportunities in private credit, software, and 30-year TIPS while emphasizing the necessity of rigorous process discipline over complex narratives.
- Goldman Sachs23 min
Demond Martin on Purpose, Community, and Giving What You Have
Damon Martin, co-founder of the inclusive capitalism venture Well With All, launched the company to address health disparities after a personal crisis revealed how lack of resources could have led to tragedy for his younger self. Drawing on his 21-year investment career and deep mentorship under Erskine Bowles, Martin now argues that "friends of the good" form the essential foundation for overcoming the epidemic of loneliness described in his new book. He advocates for rejecting the "self-made" myth in favor of building vulnerable, value-driven communities to drive both personal success and societal healing.
- Goldman Sachs26 min
How AI Debt Is Reshaping Credit Markets
Amanda Lynam, Zach Ablon, Allison Nathan
Global credit markets have shifted as AI-driven debt issuance from hyperscalers and the broader ecosystem now dominates supply, reaching nearly $500 billion year-to-date in 2026 alone. This unprecedented concentration is reshaping the Investment Grade landscape by skewing duration weight toward tech giants like Amazon and Google, while simultaneously testing market absorption limits and driving spread widening among insurance investors. As traditional US IG capacity approaches a $510 billion ceiling, the financing void is forcing a structural pivot toward private capital, non-USD jurisdictions, and alternative vehicles like project finance to sustain the multi-trillion-dollar AI investment cycle.
- Goldman Sachs24 min
Arun Gupta on Bringing Silicon Valley’s Spirit to Public Service
Noble Reach establishes a "community of dual citizens" by placing private-sector innovators into 2-3 year federal rotations to address critical generational talent gaps within US government technology sectors. Supported by strategic partners like Goldman Sachs, the organization deploys scholars to solve complex problems in state, local, and federal agencies while leveraging bipartisan mentorship and technical training to decouple public service from political ideology. This "residency match" model aims to foster long-term career resilience and global competitiveness against adversaries practicing civil-military fusion, ultimately validating public service as both altruistic and professionally advantageous.
- Goldman Sachs20 min
What the Surge in IPOs Means for Investors
Jay Ritter, Owen Lamont, Allison Nathan
Goldman Sachs Research reports that the U.S. IPO market reached record issuance levels in 2026 while maintaining average valuations that distinguish current activity from historical speculative bubbles. Analyst Jay Ritter and Owen Lamont offer diverging perspectives on this surge, with Ritter arguing deep capital markets can absorb new supply without overvaluation, whereas Lamont warns that a massive wave of issuance signals the early stages of a potential bubble. Both experts agree that structural shifts, including expanded private markets and industry consolidation, have permanently reduced the average annual IPO count to roughly 100, fundamentally altering the relationship between new listings and future market returns.
- Goldman Sachs20 min
Can Markets Withstand AI Risks, Fed Hikes, and Oil Shocks?
Tony Pasquariello, Josh Schiffrin, Dominic Wilson
Dominic and Josh analyze how supply shortages in AI infrastructure and geopolitical tensions in the Middle East are creating a complex investment environment driven by oil market friction and Federal Reserve policy shifts. While the S&P 500 remains near record highs, the duo warns that diverging market performance from lived economic reality, combined with intensifying inflation pressures and a move away from central bank guidance, signals potential volatility ahead. Consequently, they highlight a strategic pivot toward the long end of the yield curve and credit markets, suggesting that concentrated asset exposure is prudent as liquidity is expected to thin in the coming months.
- Goldman Sachs29 min
How Will AI Impact the Labor Market?
Daron Acemoglu, Neil Thompson, Joseph Briggs, Allison Nathan
Experts from Goldman Sachs and MIT project that while AI will displace tens of millions of U.S. workers over the next decade through significant labor reallocation, the unemployment rate is expected to rise by less than one percentage point annually as new job creation offsets automation. The consensus indicates a gradual transition driven by integration barriers rather than sudden mass layoffs, though disagreement persists regarding short-term net employment impacts depending on whether firms prioritize replacing or complementing human labor. Recorded in June 2026, these forecasts highlight that the trajectory of inequality and total job levels will ultimately depend on whether AI development focuses on automating routine cognitive tasks or augmenting high-value human expertise.
- Goldman Sachs22 min
Strengthening the Navy SEAL Community Amid Geopolitical Shifts
Vanya Kasanof, Keith Davids, Robin King
Rear Admiral Keith Davids and Robin King discussed the strategic evolution of Naval Special Warfare toward maritime dominance and the Navy SEAL Foundation's expanded mission to support operators facing traumatic brain injuries and mental health challenges. The dialogue highlighted how technological democratization now threatens naval forces through low-cost drone warfare, necessitating a shift where special operations lead joint efforts in cyberspace while the Foundation leverages its agile structure to address invisible wounds through active listening. With Goldman Sachs joining their efforts, these leaders aim to deepen community engagement to ensure families remain resilient so that service members can maintain laser focus on their missions.
- Goldman Sachs23 min
The Future of Industrial AI with Honeywell Technologies Chairman and CEO Vimal Kapur
Honeywell is executing a strategic split into three public entities—Honeywell Aerospace, Solstice Advanced Materials, and a residual company led by CEO Vimal Kapoor—to eliminate corporate complexity and unlock value through pure-play exposure. This transformation is underpinned by a robust automation business model generating mid-single-digit growth via capital and operations spend, while simultaneously deploying "Physical AI" agentic systems to augment human decision-making in industrial settings. The company also anticipates a near-term inflection point for quantum computing utility within two to three years, all while streamlining its post-separation governance to focus exclusively on portfolio strategy and talent management.
- Goldman Sachs25 min
Emma Grede on Building Iconic Brands and the Inspiration Behind 'Start with Yourself'
Entrepreneur Emma Greed challenges conventional views on networking and work-life balance, advocating instead for resilience built on professional excellence and the acceptance of life's fluctuating "seasons." In her book *Start With Yourself*, she urges leaders to discard the "self-made" myth, embrace strict trade-offs based on core principles, and prioritize financial fluency to navigate AI-driven disruption. By promoting a mindset that separates personal identity from risk outcomes and values team assembly over individual heroics, Greed offers a pragmatic roadmap for sustainable success and equitable power acquisition.
- Goldman Sachs23 min
Why the Fed’s Hawkish Turn Could Support the AI Boom
Tony Pasquariello, Josh Schiffrin, Dominic Wilson
New Federal Reserve Chair Warsh signaled a data-dependent approach focused on price stability while the committee's uncertain dot plot and absence of forward guidance prompted a hawkish market reaction. Panelists interpret current conditions as a mid-cycle adjustment driven by falling oil prices from geopolitical shifts and resilient AI-driven equity momentum rather than impending recession. This unique environment, characterized by rapid narrative shifts and robust capital absorption, suggests a high-velocity economic landscape distinct from the stagnation of previous years.
- Goldman Sachs24 min
Maverick Capital Co-CIOs on Finding the AI Winners
Ben Silver, David Tykocinski, Tony Pasquariello
Maverick Capital co-chief investment officers Ben Silver and David Tykoczynski discuss their complementary investment philosophies and a holistic risk management framework designed to navigate complex market dynamics. The discussion highlights strategic shifts in the artificial intelligence sector toward application-layer value while identifying significant undervalued opportunities in the healthcare equipment space driven by reshoring trends. Both executives also address structural risks in the geopolitical landscape and emphasize the long-term transformative potential of AI despite near-term valuation volatility.
- Goldman Sachs26 min
Private Markets at an Inflection Point
Pete Lyon, Michael Brandmeyer, Alison Nathan
Driven by a structural shift in private markets where holding periods have elongated and distributions remain below historical averages, industry leaders anticipate normalization by 2026 as liquidity channels diversify and Fed rate hikes subside. While public market rallies have temporarily compressed private equity alpha, the asset class maintains resilience against equity volatility and serves as the primary hub for innovation, supported by a secondary market projected to double in size. Goldman Sachs predicts that sustained earnings growth and easing debt conditions will eventually trigger a gradual increase in IPO and M&A activity, potentially surpassing 2021 deal volumes within three years if geopolitical stability is restored.
- Goldman Sachs21 min
Leading Through Complexity: EY’s Janet Truncale on Leadership, AI, and the Modern Boardroom
EY Global Chair Janet Troncalli is steering the firm's transformation into a tech-enabled professional services model that leverages AI for 400,000 employees across 150 countries while prioritizing a "humans at the center" approach. The organization is shifting toward co-source managed service partnerships and fostering a challenger culture to navigate geopolitical risks, evidenced by accelerated client capital deployment despite dampened M&A activity. This strategic pivot is underpinned by a unified global operating model, extensive AI training for the workforce, and a leadership framework designed to manage complex decision-making through alignment over consensus.
- Goldman Sachs26 min
The AI Investment Boom: When Will It Pay Off?
Jim Covello, Alison Nathan, George Lee
In a Goldman Sachs Exchanges episode recorded on May 26, 2026, Jim Cabello and George Lee analyze the divergence between surging AI technology and unproven economic returns. Cabello admits previous misjudgments regarding consumer adoption and hyperscaler spending patterns while warning that the current exclusive profitability of semiconductor firms creates an unsustainable market dynamic. The dialogue concludes that without evidence of enterprise-scale profitability within the next two years, the industry faces a potential correction where hyperscaler stocks are poised to outperform if capital expenditure moderates or profit distribution shifts upstream.