Latest Interviews
Showing 76–90 of 98 transcripts.
Clear all filters- Goldman Sachs57 min
The State of the Real Estate Market
Sharmin Mossavar-Rahmani, Alan Kava, Roy March, Ralph Rosenberg, Sharmeen Mosavaramani
On April 24, 2020, Goldman Sachs, KKR, and Eastdale executives analyzed a global real estate market defined by record cap rate spreads, an 80% drop in private transaction volumes, and divergent sector performance driven by the COVID-19 pandemic. While hospitality and retail faced existential threats from plummeting occupancy and accelerating structural decline, industrial and life science sectors demonstrated resilience through e-commerce growth and near-perfect rent collections. Industry leaders anticipate a prolonged recovery period where well-capitalized banks may stabilize the market, yet a sharp bifurcation remains between distressed "have-to" sellers and liquidity-rich investors poised to acquire depressed assets.
- Goldman Sachs44 min
Adm. Timothy J. Keating, USN (Ret.) and Brig. Gen. Robert S. Spalding III, USAF (Ret.)
Timothy J. Keating, Robert S. Spalding III, Admiral Timothy Keating, Brigadier General Robert S. Spalding III, Norman Nye, Tim Keating, Rob Spalding
Hosted by Goldman Sachs's Norman Nye on April 15, 2020, Admiral Timothy Keating and Brigadier General Rob Spalding assessed how the COVID-19 pandemic accelerated U.S.-China geopolitical rivalry, particularly regarding Taiwan, supply chain decoupling, and 5G surveillance infrastructure. The experts concluded that the crisis would permanently shift global alignment toward a "democratic bloc" prioritizing national security over economic integration, forcing a reshoring of critical industries and tighter restrictions on Chinese technology. They further warned that economic strains could provoke China to employ gray zone tactics while the United States pivots toward strengthening alliances in the Indo-Pacific, India, and Latin America.
- Goldman Sachs1h 2m
An Update on Therapies and Vaccines
Sharmin Mossavar-Rahmani, Dr. Richard Hatchett, Esther Krofah, Dr. Paul Stoffels
On April 14, 2020, Goldman Sachs CIO Wealth Management hosted Sharmin Mosavar-Rahmani for the eighth iteration of a COVID-19 series discussing the epidemiological landscape of nearly 2 million infections and 110,000 fatalities. Experts outlined a pipeline where effective therapies are expected within four to six months while vaccines leveraging platforms from CEPI and Johnson & Johnson may require 12 to 18 months, with potential emergency use by the first quarter of 2021. The call further detailed critical challenges regarding antibody test accuracy, the certainty of a second wave, and the necessity for aggressive surveillance and testing infrastructure to facilitate any safe economic reopening.
- Goldman Sachs53 min
The CARES Act and its Impact on the US Economic Outlook
Sharmin Mossavar-Rahmani, Alec Phillips, Jan Hatzius, William G. Gale, Sharmeen Mosavar-Rahmani, Bill Gale
On March 31, 2020, Goldman Sachs hosted a client call featuring Chief Economist Jan Hatzius and external fiscal experts to analyze the CARES Act and downgrade the 2020 U.S. economic outlook to a record contraction. The discussion detailed the legislation's targeted relief components, including expanded unemployment benefits, direct stimulus checks, and $46 billion in aid for the airline industry, alongside projections that Q2 GDP will fall approximately 10% with net debt-to-GDP rising above 100%. Despite these severe short-term headwinds, experts concluded that low interest rates and the Federal Reserve's potential $4.5 trillion lending capacity would likely prevent a sovereign debt crisis.
- Goldman Sachs40 min
US Senators Marco Rubio and Ben Cardin
Marco Rubio, Ben Cardin, David Solomon
Hosted by Goldman Sachs Chairman David Solomon on March 30, 2020, Senators Marco Rubio and Ben Cardin outlined critical CARES Act provisions to address the 96% of small businesses already impacted by the COVID-19 crisis. The discussion detailed the Paycheck Protection Program's 100% federal guarantee and loan forgiveness terms alongside emergency grants and tax credits designed to sustain payroll and operations for entities with 500 employees or fewer. While emphasizing rapid fund distribution through over 800 authorized lenders, the committee also cautioned against fraudulent schemes and anticipated further legislative action should the economic downturn extend beyond the initial 60 to 90-day window.
- Goldman Sachs58 min
An Update on the Economic and Public Health Implications of Coronavirus for Europe
Sharmin Mossavar-Rahmani, Dr. David Heymann, Sven Jari Stehn, Silvia Ardagna, Peter Oppenheimer, Sharmeen Mosavar-Rahmani
Hosted by Goldman Sachs on March 26, 2020, a panel of infectious disease experts and economists analyzed the severe impact of the coronavirus on Europe, highlighting Italy's high mortality due to demographic factors and early hospital overload while noting a potential 9% GDP contraction in the Euro area by year-end. In response to the crisis, European central banks and governments deployed unprecedented monetary and fiscal measures, including unlimited asset purchases and corporate loan guarantees, though fragmentation within the Eurozone contrasted with more coordinated US actions. Despite the deepening economic downturn, equity strategists noted that market valuations have reached historic lows, projecting a high probability of double-digit returns over the subsequent 24 months as earnings decline stabilizes.
- Goldman Sachs1h 22m
A Coronavirus Update with Leading Health Experts and Business Leaders
Sharmin Mossavar-Rahmani, Dr. Thomas Schinecker, Steve Rusckowski, Dr. Leonard Schleifer, Stéphane Bancel, Pablo Tebas, Peter Slavin, Dr. Barry Bloom, Sharmeen Mosavar-Rahmani
Hosted by Goldman Sachs on March 20, 2020, industry leaders including Regeneron's Dr. Leonard Schleifer, Moderna's Stefan Bancel, and Quest Diagnostics executives detailed rapid advancements in diagnostic scaling, therapeutic trials, and vaccine development. The panel highlighted that while testing capacity is projected to meet demand within weeks, critical bottlenecks in PPE and supply chains persist, prompting urgent calls for Defense Production Act mobilization to protect healthcare workers. Simultaneously, experts outlined aggressive timelines for Moderna's mRNA vaccine reaching healthcare workers by late 2020 and emphasized that sustainable economic recovery relies on serologic testing and strict social distancing to prevent a predicted second wave.
- Y Combinator1h 50m
YC SUS: Eric Migicovsky hosts founder office hours
Eric Migicovsky, Eric Michakowski, JC, Mary, John, Jake, Nate, Chefy, Wee Susu, Armin, Amy, Lindy
Startup School facilitator Eric Michakowski leads concentrated office hour sessions where founders receive targeted strategic guidance from YC partners to solve specific scaling, product, and go-to-market challenges. Participants from diverse sectors including hardware, fintech, and biotech present their current bottlenecks to receive actionable advice on metrics, user acquisition, and regulatory compliance. The sessions are publicly recorded to foster peer support and provide a resource library of problem-solving strategies for the broader founder community.
- Goldman Sachs31 min
Fixed Income Investor Relations - Goldman Sachs 2020 Investor Day
Beth Hammack, Kerry Halio, Rajeshri Datta
Goldman Sachs is accelerating a strategic shift to increase unsecured consumer deposits, aiming to replace $10 billion of wholesale debt annually to reduce interest costs and fund a long-term 50-50 debt-deposit mix. Complementing this funding evolution, the firm plans to shorten its wholesale debt weighted average maturity to eight years or less while executing a targeted transition away from LIBOR by the end of 2021. These liquidity and asset-liability management initiatives, supported by robust capital buffers and conservative underwriting, are projected to lower net interest expenses by $1 billion over the medium term.
- Goldman Sachs42 min
A Conversation with David Solomon - Goldman Sachs 2020 Investor Day
David Solomon, Julian Wellesley, Brennan, Mike, Kiana Wilson, Doug, Christian Bolu, Glenn, Betsy, Devin, Steve, John, Gerard Cassidy, Matt O'Connor, Jeff Hart
Goldman Sachs is executing a strategic pivot to diversify its Global Markets client base and expand Consumer and Wealth Management operations, specifically targeting a $1.3 billion expense reduction while simultaneously building toward $125 billion in deposits. CEO David Solomon and leadership team emphasized a "One Goldman Sachs" ethos to break internal silos, with management deferring specific payout ratios in favor of a CET1 target of 13% to 13.5% to fund accretive growth. The firm projects a three-to-four-year J-curve for new lending and transaction banking initiatives, planning to report progress against these capital allocation and efficiency milestones on an annual basis rather than quarterly.
- Goldman Sachs18 min
Innovation - Goldman Sachs 2020 Investor Day
Marco Argenti, Stephanie Cohen, David
Marco Argenti, former co-CIO of Goldman Sachs, leads a technology transformation designed to evolve the firm into a "vertical cloud" provider by prioritizing modular APIs and externalizing services like Marquee and Apple Card. Chief Strategy Officer Stephanie Cohen reinforces this strategy by shifting engineering focus toward differentiated capabilities, resulting in a dynamic framework that combines buying, building, partnering, and investing to capture a $60 billion retail deposit base and expand quantitative trading volumes through external broker-dealers. This approach leverages Goldman Sachs' heritage in equity markets and deep pre-IPO relationships to create a self-reinforcing platform that enables developers to embed financial services directly into client workflows while generating durable, fee-based revenue.
- Goldman Sachs31 min
Asset Management - Goldman Sachs 2020 Investor Day
Goldman Sachs executives Julian and Tim O'Neill presented an overview of the firm's $2.3 trillion asset management platform, highlighting its global multi-line capabilities and consistent investment track record across diverse strategies. The company outlined a five-year growth target of $350 billion in net organic assets while pivoting its balance sheet toward less capital-intensive credit investments to unlock $4 billion in capital efficiency. This strategic realignment aims to generate an incremental $1.6 billion in annual management fees, ultimately delivering a more durable revenue profile and improved return on equity.
- Goldman Sachs26 min
Global Markets - Goldman Sachs 2020 Investor Day
Jim Esposito, Ashok Varadhan, Mark Nachman
Under the leadership of Jim Esposito and Ashok Varadhan, Goldman Sachs' Global Markets division is executing a strategic pivot to become the preeminent global franchise by leveraging high-barrier-to-entry scale and regulatory advantages. The firm is accelerating this transformation through technology-driven automation, the expansion of its Marquee platform, and a shift toward lower-volatility financing activities that have already captured 30% of revenues. By systematically closing over 1,000 client gaps and reducing operating expenses by nearly $1 billion, the division projects to exceed an 11% return on tangible equity while narrowing its revenue gap with top-ranked peers.
- Goldman Sachs29 min
Financial Roadmap - Goldman Sachs 2020 Investor Day
Goldman Sachs has outlined a three-year strategic plan targeting a Return on Equity exceeding 13% and an efficiency ratio of 60% by driving revenue growth, reducing the cost of funds, and implementing a $1.3 billion expense initiative. The firm aims to lower its funding costs by diversifying liabilities to reach a 50% deposit mix and will allocate capital toward high-return opportunities while returning excess value to shareholders through flexible buybacks and dividends. Under this framework, the Global Markets segment seeks to lift its ROE to 10% while new consumer and transaction banking initiatives are projected to reach break-even status within the medium-term horizon.
- Goldman Sachs29 min
Executing Our Strategy - Goldman Sachs 2020 Investor Day
John Waldron, President and COO of Goldman Sachs, outlines a strategic mandate to drive operational excellence and global client engagement through a three-pillar approach of strengthening the core franchise, investing for growth, and enhancing efficiency. The firm targets a return on equity exceeding 10% over the next three years by expanding investment banking coverage, unifying its alternatives platform, and implementing $1.3 billion in cost savings while reallocating resources toward technology and talent mobility. This comprehensive roadmap includes structural changes such as increasing engineering budgets, launching the Apple Card, and scaling the "One Goldman Sachs" philosophy to break down silos across 100 key client relationships.