Latest Interviews
Showing 151–165 of 597 interview transcripts.
Clear all filters- Goldman Sachs10 min
Normalizing inflation: are ‘hard yards’ ahead?
Ashok Varadhan, Sam Grobart, Ashok Singhala
Goldman Sachs Chief Economist Jan Hatzihas lowered the U.S. recession probability to 15% as disinflation approaches 2%, yet the firm warns that the final steps to this target may require restrictive policy rather than natural market cooling. While investment-grade corporate debt remains resilient due to pandemic-era fixed-rate lock-ins, rising costs are projected to isolate distress within lower-quality credit segments. The economic outlook currently hinges on whether the Federal Reserve can achieve its 2% inflation goal via "gravity" without triggering the severe market turbulence associated with draconian intervention.
- Goldman Sachs19 min
How Angela Hwang helped lead Pfizer through the unknowns of Covid to deliver a vaccine
Angela Huang, Pfizer's Chief Commercial Officer, detailed the "Project BioSpeed" initiative that accelerated the development of the company's COVID-19 vaccine to approximately nine months through parallel development and a "fixed goal, flexible process" framework. Under her leadership, which spans 26,000 colleagues across 185 countries, the organization scaled annual manufacturing capacity from 200 million to over one billion doses while enforcing a mandatory 30% minority representation in clinical trials. The presentation highlighted how this crisis-driven collaboration required admitting uncertainty and failing fast without altering the final deadline, offering a model for translating high-stakes innovation into standard business operations.
- Goldman Sachs17 min
Why ‘everything aligns’ for Japanese stocks
Driven by corporate governance reforms and a return of foreign investors, Japan's TOPIX has surged to levels not seen since 1990 as the economy transitions from deflationary stagnation to wage growth and inflation. Goldman Sachs forecasts the index to reach $2,400 by year-end and $2,500 within twelve months, recommending a barbell strategy targeting undervalued machinery and banking sectors. This outlook persists despite risks from potential US and Chinese revenue slowdowns and anticipated central bank policy adjustments.
- Goldman Sachs20 min
How Porsche CEO Oliver Blume is driving innovation
Oliver Blume, Christoph Stanger, Alison Nathan
Porsche's recent European IPO, the largest by market capitalization in the region, successfully secured billions in cornerstone commitments from Goldman Sachs to stabilize the offering amidst macro volatility. CEO Oliver Blum now directs the company toward a "Road to 20" strategy aiming for over 20% return on sales by leveraging Volkswagen Group scale while maintaining luxury pricing power. The automaker targets 80% global electric deliveries by 2030, aligning its product roadmap with regional recovery trends in China and North America to capitalize on its 75th anniversary as a sports car manufacturer.
- Goldman Sachs17 min
What’s driving the surge in shareholder activism activity?
Avinash Mehrotra, Pamela Codo-Lotti, Alison Nathan, Avi Mehrotra, Pam Kodoloti
By March 2023, activist investor campaigns reached pre-pandemic intensity with a record $13.13 billion raised by Elliot Management, driving a surge in pressure on one in four S&P 500 companies and expanding into large-cap targets in Japan and Europe. Activists are shifting strategies from inorganic growth to operational efficiency and capital returns, utilizing new universal proxy rules and increased capital availability to target defensive corporations in tech, healthcare, and industrials. As multiple investors increasingly "swarm" single firms, companies are responding by adopting proactive, data-driven governance reviews to preemptively address vulnerabilities in board composition and capital allocation.
- Goldman Sachs16 min
Astro Teller, Captain of X, The Moonshot Factory with George Lee
Established over a decade ago as Google's moonshot laboratory, X incubates high-risk global solutions by prioritizing intellectual honesty and rapid experimentation over immediate commercial success. The organization distinguishes itself through a unique incentive structure that rewards employees for the quality of their data and the validity of their pivots, even when projects fail to meet operational targets. By fostering a cultural infrastructure where teams can safely explore radical ideas, X enables the creation of independent ventures and drives scalable innovation across sectors ranging from autonomous logistics to computational agriculture.
- Goldman Sachs20 min
Tim Davie, Director-General, BBC
Marking its centenary, the BBC reports a £5.3 billion revenue model driven by a 60% surge in commercial earnings while strategically pivoting toward distinct high-trust content like natural history and impartial news rather than competing directly with global streaming giants. Amidst a shrinking global landscape for free press where 70% of the population lacks media freedom, the corporation has restructured production teams to serve external clients and is reinforcing its mission through live events that foster social cohesion. Facing intensified competition for senior talent, the organization is leveraging its legacy of independence and societal impact to retain staff while demanding market-based accountability alongside its public service values.
- Goldman Sachs18 min
The global economy in 2075: Growth slows as Asia rises
Goldman Sachs Research has released its 2024 iteration of the long-term global economic forecast, extending the projection horizon to 2075 across 104 economies to analyze structural drivers like demographics and productivity. The study predicts a global population peak of 10 billion by 2050, which will decelerate growth but enable low-income emerging markets to continue converging with developed nations, ultimately driving China to overtake the US economy by 2035 and India to catch up by 2075. While these structural trends support a shift of investment and corporate expansion toward emerging markets, the outlook remains vulnerable to specific risks including rising protectionism and climate change impacts on vulnerable economies.
- Goldman Sachs15 min
Maverick Carter CEO/Co-founder, SpringHill Company
Co-founded by LeBron James and Maverick Carter, the Springfield Company operates as a content and commerce entity designed to build enterprise value through owned intellectual property rather than traditional management fees. Following a strategic capital raise, the 50-50 male-female firm is evolving its flagship platform "The Shop" into a global franchise with international reach on YouTube, featuring high-profile guests and brick-and-mortar expansions. Guided by a poker-inspired risk philosophy and a "More Than" ethos, the organization structures partnerships as co-productions to empower individuals while securing long-term brand relevance in the media landscape.
- Goldman Sachs17 min
Taking Stock: What’s Ahead for US Markets
Goldman Sachs projects the S&P 500 to remain in bear market territory through early 2023, with a baseline forecast of closing at 3,600 before potentially dropping to 3,150 if aggressive Federal Reserve rate hikes trigger a recession. Investors are currently adopting a risk-off stance by reducing leverage and holding higher cash levels, reflecting a market shift where positive real yields favor safe assets over equities as inflation remains stubborn. While the energy sector is expected to drive Q3 earnings growth, the broader market faces margin compression and earnings declines outside of energy, delaying a market recovery until inflation clarity emerges in mid-2023.
- Goldman Sachs20 min
Breaking Down the Dollar’s Rise
Kamakshya Trivedi, Alison Nathan
Goldman Sachs analysts project further U.S. dollar appreciation driven by America's overheating economy and the Federal Reserve's aggressive rate hikes, which contrast with the constrained monetary policies of the ECB, BOJ, and PBOC. While this strength aids U.S. inflation goals, it forces non-U.S. economies into a difficult trade-off between accepting currency depreciation or risking domestic growth through aggressive tightening, with emerging markets facing severe debt vulnerabilities. Exceptions like the Brazilian real and Mexican peso have resisted these trends by initiating earlier rate hikes, yet analysts anticipate the dollar's dominance will persist until U.S. inflation peaks and global growth stabilizes, unlikely before 2023.
- Goldman Sachs19 min
Alli Webb, Founder of Drybar & President of Canopy
Former Goldman Sachs executive Allison Mass founded Drybar to address salon inconsistencies by offering exclusive, affordable blowouts, a model that rapidly scaled to over 160 locations through viral traction and a rigorous focus on sensory branding. The company successfully pivoted to develop a proprietary product line that dominated retail before being sold to Helen of Troy for $255 million, an exit strategy driven by the need to separate the service and product divisions. Following this success, Mass has applied these operational lessons to launch new ventures like the franchise-based massage concept Squeeze and various consumer goods startups, emphasizing strategic delegation and specialized leadership.
- Goldman Sachs19 min
Will Slaying Inflation Require Recession?
Jan Hatzius, Olivier Blanchard, Alison Nathan
Olivier Blanchard and Jan Hatzius present conflicting views on whether the post-pandemic labor market can rebalance through reduced vacancies without triggering a recession, with Blanchard predicting unemployment must rise to 6–7% to tame inflation while Hatzius forecasts a modest 4.2% increase by late 2024. Blanchard attributes current structural mismatches and wage-price spirals to a higher natural rate of unemployment requiring severe economic contraction, whereas Hatzius attributes high vacancies to temporary supply constraints that are now resolving through decelerating growth rather than layoffs. The debate highlights divergent recession probabilities, with Blanchard viewing a downturn as inevitable under current Fed tightening and Hatzius estimating a 30% chance over the next year as the economy navigates a potential soft landing.
- Goldman Sachs19 min
Investing with KKR’s Tara Davies
Tara Davies, Alison Mass, Alison Nathan
On March 17, 2022, KKR Partner Tara Davies outlined a strategic pivot toward inflation-resistant real assets, emphasizing infrastructure's ability to hedge rising costs through revenue pass-through mechanisms while navigating a competitive market landscape. Davies detailed KKR's sector-agnostic approach to classifying assets by complexity rather than industry, prioritizing pricing power to protect margins amid supply chain disruptions and operational risks. The discussion further highlighted the firm's commitment to decarbonizing existing "brown" assets through granular operational improvements rather than divestment, alongside a leadership philosophy that values constructive debate and people skills over pure analytical modeling.
- Goldman Sachs18 min
Facing Rising Rates, Insurers Turn to Private Assets, Real Estate — Even Crypto
Representing over $26 trillion in global assets, the insurance sector leverages its stable, long-duration capital structure to navigate rising inflation and recession fears while shifting allocations toward private markets and inflation hedges. The 11th edition of the 2022 industry survey, reflecting responses from entities managing half of the global market, highlights emerging crypto adoption, divergent regional ESG strategies, and a focus on solvency amid geopolitical instability. These strategic adjustments aim to capitalize on higher reinvestment yields and lower entry points, ultimately seeking to enhance savings product returns and stabilize future premium rates.