Latest Interviews
Showing 196–210 of 1,030 transcripts.
Clear all filters- The Economist8 min
Could markets topple the global economy?
A recent analysis argues that the AI-driven stock market boom masks severe economic fragility, with consumer wealth exposure now exceeding 1990s levels and AI revenue falling far short of capital expenditure requirements. A potential market correction would directly impair US households, likely prompting a Trump administration to manage bailouts through discretionary lending while triggering a global recession that could shift investor preference toward Europe. As the 2026 horizon approaches, rising fears of AI-driven job displacement in entry-level roles may accelerate corporate adoption of automation technologies as a cost-saving measure amid economic downturns.
- Goldman Sachs11 min
How to Trade a Credit Expansion
The Federal Reserve is positioned to execute a single rate cut in December before pausing to evaluate a bifurcated economy characterized by robust top-line growth alongside a weakening labor market driven by the AI-driven rotation of resources. As the financial landscape transitions from fiscal expansion to private credit-driven growth over the next nine months, investment strategies are shifting toward precision allocation in semiconductors, metals, and emerging markets rather than broad asset ownership. While a systemic credit crisis remains unlikely given current household buffers, investors must navigate significant uncertainty surrounding the December FOMC decision by maintaining liquidity to capitalize on potential market pullbacks.
- The Economist10 min
How strong is the Russian army?
Former British Defence Attaché John Foreman reveals that high-level pre-invasion meetings with Russian officials Sergei Shoigu and Valery Gerasimov were futile attempts to deter a planned attack that President Putin authorized in mid-February 2022. Foreman attributes the Russian invasion's catastrophic failure to severe internal corruption, strategic hubris, and logistical collapse rather than superior Ukrainian resistance, noting that commanders viewed the operation as a simple decapitation strike against "little Russians." He concludes that these losses have permanently crippled Russia's conventional capabilities, forcing a shift toward a nuclear-focused defensive posture while projecting that rising European defense spending will ensure NATO retains a decisive strategic advantage.
- Goldman Sachs9 min
Rise of the Retail Investor
Goldman Sachs analyzes divergent retail trading profiles across ETFs, single stocks, and options, revealing a massive shift toward AI equities and sustained "buy and hold" strategies alongside elevated short-term option activity. This heightened retail participation, combined with aggressive hedge fund alpha-seeking, has driven the largest single-stock earnings moves since 2009 and established a distinct volatility divergence between individual names and broader indices. Consequently, the firm warns against shorting based solely on high sentiment, instead noting that option sellers are currently monetizing retail demand while defensive income funds attract significant capital as investors navigate an environment of extreme stock-level volatility.
- Sequoia Capital10 min
From Early Failures to ‘Clash of Clans’ and ‘Brawl Stars’ - Supercell ft Ilkka Paananen
Ilkka Paananen, Maya Hoffree, Joost van Dreunen, Roelof Botha
Supercell established a unique corporate structure known as "cells" that empowers individual game teams with startup-like autonomy, a strategy that enabled leaders to cancel their initial €8 million investment in the Facebook title *Gunshine* to pivot successfully toward mobile platforms. This bold approach fostered a culture where project failures are celebrated as learning experiments, ultimately leading to the creation of industry-defining hits like *Clash of Clans* and *Hay Day* that currently command 60% of total industry playtime. Now fifteen years old, the company continues to navigate the high barrier of launching new titles by embracing increased risk-taking, aiming to emulate the century-long legacy of Nintendo or LEGO while maintaining operational excellence.
- The Economist8 min
Could the AI bubble pop?
Market analysts describe a speculative frenzy where investors treat AI startups as high-stakes lottery tickets, driven by the potential for a single entity to capture a $1.46 quadrillion monopoly by achieving superintelligence. Unlike historical infrastructure booms that left behind tangible physical assets, this sector faces unique risks from rapidly obsolete specialized hardware and the disruptive proliferation of free open-source models that could strip commercial value from paid solutions. Consequently, the ultimate economic outcome remains uncertain as the market grapples with whether the industry will result in a winner-takes-all dominance or a fragmented collapse similar to the 2001 telecom crash.
- The Economist7 min
Are rich countries facing a debt crisis?
Advanced economies face unprecedented public debt levels driven by repeated crises, structural political reluctance, and budget forecasts that consistently underestimate long-term liabilities. Fiscal sustainability is further compromised by rising interest costs, an aging population consuming 40% of budgets for entitlements, and constrained discretionary spending due to mandatory increases in defense and green transition investments. Consequently, efforts to reduce deficits are stalled by a lack of political will to implement revenue measures like VAT or to adjust retirement ages, leaving governments vulnerable to economic instability.
- The Economist7 min
How long will Donald Trump and Xi Jinping’s trade war truce last?
Donald Trump, Xi Jinping, Jeremy Page, Jason Palmer
U.S. President Donald Trump and Chinese President Xi Jinping agreed to a one-year trade truce during a meeting at a South Korean airbase, securing reciprocal delays on rare earth export controls, threatened tariffs, and fentanyl-related duties while restoring soybean purchases. This temporary pause was accompanied by parallel U.S. initiatives to diversify critical mineral supply chains with allies and upgrade defense technology for South Korea, even as structural disputes over industrial policy and semiconductor sales remain unresolved. Although the deal reduces immediate escalation risks, the agreement lacks a final resolution to underlying tensions, leaving the relationship vulnerable to future volatility amid ongoing geopolitical instability.
- The Economist10 min
Can Zohran Mamdani turn New York around?
Zohran Mamdani, Charlotte, John, Ed
33-year-old Democratic Socialist Zoran Mamdani is leveraging a surge of disillusionment with centrist politicians to run an optimistic mayoral campaign in New York City against incumbent Eric Adams and former Governor Andrew Cuomo. His platform features bold, controversial proposals including a rent freeze for stabilized units, free city buses, and a $30 minimum wage by 2030, though critics highlight significant fiscal hurdles and a lack of executive experience. While Mamdani's hardline stance against Israel and use of digital platforms signal anti-establishment authenticity to younger voters, his strategy may ultimately rely on forcing a moderation of these radical pledges to remain viable.
- Goldman Sachs10 min
A "Blow-Off Top" Ahead?
Following the September rate cut, Federal Reserve Chair Powell removed the certainty of a December reduction, prompting a market repricing that shifts probability from 95% to 60% and dampens expectations for aggressive easing. While 55% of S&P 500 companies recently beat earnings estimates, these gains resulted in a 32 basis point underperformance rather than the historical norm, signaling crowded positioning in high-performing stocks. Institutional investors are maintaining a net long exposure of only 70% amidst gross risk levels at five-year highs, concentrating aggressive buys in the AI complex while shorting energy and consumer sectors ahead of a potential year-end rally driven by the cyclical rotation.
- Goldman Sachs19 min
Regeneron CEO Dr. Leonard Schleifer on Science-Driven Success
Dr. Leonard Schleifer, John Waldron
Founded in 1988 by MD-PhDs Leonard Schleifer and George Yancopoulos, Regeneron rejects top-down target selection to pursue science-driven therapeutics, enduring two decades of losses before achieving profitability in 2011. The company currently employs 15,000 people and markets Dupixent as its flagship treatment for diverse allergic conditions while leveraging genomic data from 3 million individuals to advance research in areas like obesity and cancer. Under Schleifer's unique leadership style that eschews quarterly earnings guidance, Regeneron is expanding its genetic sequencing efforts to 50 million people and integrating AI to refine diagnostic precision without compromising its "do well by doing good" ethical mandate.
- The Economist6 min
Which countries have fallen down the passport power rankings?
Michelle Hennessy, Rosie Blau, Rosie Bloor
Henley & Partners' latest global mobility ranking places Singapore at the forefront with visa-free access to 193 destinations, while US and UK passports have notably declined due to reciprocal restrictive immigration policies. Wealthier nations facing stricter entry requirements are seeing their citizens seek alternative mobility through citizenship-by-investment programs, with Americans now forming the majority of such clients. This trend underscores a growing correlation between political stability, economic wealth, and the practical necessity for global travel rights.
- The Economist13 min
Steve Bannon: Trump will have a third term
Steve Bannon, Trump, Zanny Minton Beddoes, Ed Carr
Steve Bannon articulates a vision for a MAGA revolution that replaces corporate control with an "entrepreneurial capitalism" dominated by populist nationalists, asserting the movement must seize and permanently defend state institutions regardless of legal or economic pushback. He predicts Donald Trump will secure a third presidential term in 2028 by redefining constitutional constraints and positions the United States as the catalyst for a global wave of right-wing victories in nations like the UK, France, and Germany. This strategy frames the current era as an existential political war where the movement will not compromise, arguing that radical action is necessary to avoid elite-managed decline and ensure the preservation of national sovereignty.
- Sequoia Capital17 min
Reinventing Delivery with Instant Drone Transport ft Zipline's Keller Cliffton -
Keller Cliffton, Roelof Botha, Keenan Wyrobek, Ryan Oxenhorn, Maggie Jim, Alfred Lin
Zipline CEO Keller Clifton transformed his company from a failed consumer robotics venture into the world's largest autonomous logistics network by pivoting to medical supply delivery in Rwanda, where a partnership with the government addressed critical health crises caused by poor infrastructure. After securing NASA collaboration and achieving a historic U.S. regulatory milestone for nationwide Beyond Visual Line of Sight flights, the organization scaled to serve over 5,000 facilities globally while introducing a novel string-based urban delivery system. This evolution, driven by the founders' persistence through early investor skepticism and technical failures, established a resilient infrastructure that now connects remote hospitals and urban centers alike.
- The Economist8 min
Why are cybercriminals richer than ever?
Criminal gangs have evolved from data theft to aggressive "wrecking" attacks that destroy systems to halt operations, with young British hackers recently collaborating with Russian groups to target major entities like Jaguar Land Rover. The JLR incident alone caused an estimated £1.5 billion in damage, exceeding the total global ransom income of $1 billion in 2024, while exposing critical vulnerabilities in non-core infrastructure and cost-optimized outsourcing models. In response to this economic devastation, the UK government is considering a legal ban on ransom payments to disrupt the criminal market, alongside stricter transparency mandates that would require immediate reporting of severe cyber disruptions.