Latest Interviews

The future of war

Tom Standage, Jennifer McArdle

The ongoing conflict in Ukraine has established a new warfare paradigm where 20th-century trench dynamics merge with 21st-century drone consumption and Starlink-enabled kill chains to prioritize sensor-to-shooter speed over traditional force concentration. Concurrently, global powers like China and the United States are accelerating artificial intelligence integration and autonomous system deployment, though significant ethical debates persist regarding lethal decision-making authority amidst a projected future of unmanned overhuman dominance. While these technological shifts promise to revolutionize tactical efficiency through cyber warfare and data analytics, experts warn that the fundamental human costs of war remain severe, with complex machinery requiring human operators to sustain logistics and mitigate the psychological trauma of high casualty rates.

Mia Khalifa Opens Up About The Dark Side Of The Adult Entertainment Industry | E248

Mia Khalifa, Steven, Sarah Joe Chamoun

Former adult film star Sarah Jo discusses her transition from a predatory entry into the industry at age 16 to becoming a business owner and author with over 50 million followers. Drawing on her struggles with colorism, depression, and non-consensual content retention, she advocates for legal reforms regarding "in perpetuity" contracts and details the therapeutic journey that enabled her to launch her jewelry brand, Shaitan. Jo further promotes her upcoming book, *The Diary of a CEO*, while warning of future threats to bodily autonomy posed by AI deepfakes and offering her philosophy on achieving happiness through solitude and self-acceptance.

Real vs. Fake progress

The event identifies direct user engagement and continuous product iteration as the highest-leverage activities for founders, explicitly warning against mistaking networking, award-seeking, and conference attendance for genuine progress. It highlights the critical danger of "fake progress" where startups optimize vanity metrics or attend industry events that remain many steps removed from delivering tangible customer value. Consequently, the discussion establishes a strategic imperative to prioritize actual value delivery over superficial growth indicators to ensure long-term startup viability.

Energy crisis: what can 1973 teach us?

Christian Onda, Vijay Vaitheeswaran

The event analyzes the parallels between Russia's 2022 invasion of Ukraine and the 1973 oil crisis, highlighting how Western dependence on single suppliers has triggered a severe global energy shortage and humanitarian disparities. It details how current strategies, such as aggressive LNG procurement and coal expansion, are pricing out developing nations and risking long-term climate goals while failing to replicate the US model of self-sufficiency. Experts conclude that without diversifying suppliers and accelerating decarbonization, Europe faces imminent threats of mass casualties and economic instability during the upcoming winter.

M&A in 2023: A complex but optimistic outlook for deal-making

Stephan Feldgoise, Mark Sorrell, Alison Nathan, Stefan Felgoys

The 2022 M&A market experienced a sharp downturn in the second half driven by rising interest rates and geopolitical uncertainty, which caused private equity activity to slow while strategic deals and mega-transactions remained resilient due to strong balance sheets. As valuation gaps widened between public and private sectors, boards shifted their focus from growth multiples to cost of capital, prompting a surge in structured transactions and increased activism targeting operational improvements. Looking toward 2023, Goldman Sachs projects a recovery fueled by record private capital liquidity and attractive valuations, provided financing markets stabilize enough to allow debt syndication without prolonged deal delays.

Iran protests: can they topple the regime?

A youth-led Iranian protest movement, driven by demonstrators as young as fifteen, has escalated to include acts like public headscarf burning and has endured longer than any previous unrest in the Islamic Republic's history. While the absence of a single leader has prevented the regime from decapitating the movement, analysts argue that establishing a unified coalition and coherent message remains critical for long-term success. The trajectory of the uprising now hinges on whether the loyal security apparatus will eventually defect, as external powers currently prioritize nuclear deals over strategic planning for a potential post-regime transition.

Brazil elections: the enduring threat of Bolsonaro

Bolsonaro, Sarah Maslin

Jair Bolsonaro defied pre-election expectations in Brazil by securing a decisive lead in the presidential race, driven by a mobilized base of evangelical Christians, gun owners, and agribusiness farmers. His administration has significantly relaxed environmental and gun control regulations, consolidating legislative power through a coalition that holds half the lower house while systematically delegitimizing judicial and media institutions. Future stability remains precarious as analysts warn that a potential loss of the election could trigger political violence among armed supporters, mirroring tactics previously seen in the United States.

Why America’s murder rate has spiked

Daniel Knowles

Between 2020 and 2022, the United States experienced a historic surge in homicides that erased decades of progress, driven by record firearm availability, pandemic-induced isolation, and eroded community trust following high-profile police killings. This spike disproportionately impacted Black communities and major cities like Philadelphia and New York, where violence rates climbed significantly despite the broader national trend diverging from global patterns. While violence interruption programs and calls for restored police relations offer potential mitigation strategies, experts warn that without targeted intervention, these elevated murder rates risk becoming a permanent national baseline.

Y Combinator Is Back In Person

Dalton Caldwell, Michael Seibel

The Summer 2022 YC batch transitions to hybrid operations with a Sonoma kick-off retreat and San Francisco meetups while maintaining core remote components for its global cohort. This cycle features a revised standard deal delivering $500,000 in immediate capital, which has attracted a more technical, motivated applicant pool and enabled founders to raise seed rounds with reduced dilution. Additionally, a distinct geographic trend sees founders returning to major tech hubs like the Bay Area to leverage dense ecosystems, supported by YC's direct economic guidance that encourages data-driven decision-making over fear-based reactions.

Could Putin really start a nuclear war?

Shashank Joshi

Vladimir Putin has placed Russia's strategic nuclear forces on high alert to deter Western military intervention, a move that Western allies have condemned as reckless yet have chosen not to mirror with reciprocal escalations. While this action signals Russian vulnerability regarding the slower-than-anticipated progress of the Ukrainian campaign, experts assess the risk of deliberate nuclear war as low due to mutual assured destruction, leaving accidental escalation as the primary danger. Consequently, the current geopolitical climate represents the most severe security crisis in a generation, characterized by intense conventional warfare and a critical need to maintain communication channels to prevent unintended conflict.

Understanding the Metaverse and Web 3.0

Eric Sheridan, Allison Nathan

Goldman Sachs analysts define the metaverse as an immersive evolution from the smartphone-centric Web 2.0 to a decentralized Web 3.0 environment, projecting a potential market valuation between $2 trillion and $12 trillion as hardware costs decline. This investment cycle, accelerated by pandemic-driven gaming adoption and high-profile corporate shifts like Meta's rebranding, anticipates major economic expansion in sectors ranging from retail to education over the next decade. Success hinges on platform interoperability and strategic partnerships, though the transition faces immediate regulatory scrutiny regarding privacy and market concentration distinct from previous web eras.

Watch Live: 2021 Goldman Sachs Gives Analyst Impact Fund Finals

Brooke Farrelly, Carli Gogol, Sidney Mitchell, Zac Sicher, Filip Jedmo, Jake Lewis, Daniel Mayers, Aoife O'Halloran, Tilly Thatcher, Srushti Deshmukh, Anagha Gurumurthy, Aditi Kulkarni, Nitiksha, Shreya Srikanth, Will Elia, Max Pivonka, Sara Rogers, Julian Sanchez, Erica Leslie, Julian Salisbury, David Solomon, Dennis Coleman, Asahi Pompei, Emmanuel Oniyuku, Liz Martin, Dan, Ate Latiranta, Lydia Finnegan, Leela, Preston L. James II, Madison, Simone, Nicole Esposito, Ian Drayton, Carrie Haleo, Rachel Schneider, Claire Thompson, Kia Williams, Brad

The sixth iteration of the Goldman Sachs Analyst Impact Fund brought together 1,600 colleagues to compete for grants supporting 300 non-profits, with four finalist teams presenting proposals to judges including David Solomon. Lime Connect won the top prize for its initiative to bridge the employment gap for people with disabilities, while Hello World, Div Inc, and Prasarana Trust secured second, third, and fourth place respectively, with Prasarana also receiving the $25,000 Fan Favorite award. The event successfully aligned the firm's culture of entrepreneurship with tangible outcomes, including a projected $700 billion potential GDP increase in India and significant strides in global digital access and minority entrepreneurship.

How economic policy can help the world recover

The panel assesses that while hyperinflation remains improbable, sustained high inflation and supply chain bottlenecks driven by post-stimulus goods demand are reshaping the global economy. Key risks include a potential Chinese slowdown from compounded shocks and persistent labor shortages fueled by shifting worker priorities, whereas recovery inequalities persist due to disparate vaccine access and stimulus timing. Economic stability ultimately hinges on high vaccination rates decoupling health risks from production, alongside strategic policy shifts toward green infrastructure and carbon pricing to address climate goals.

How to keep cool while the world gets hotter

Sarah El-Batouti, Eleni Miravili, Vijay Vaideswaran

Record-breaking heat waves and a growing reliance on fossil-fuel-powered cooling systems are accelerating a dangerous feedback loop, with global air conditioning usage projected to drive emissions up by 90% by 2050 if left unaddressed. To mitigate this crisis, innovators and policymakers are deploying a mix of passive building designs, natural cooling strategies, and urban greening initiatives in cities like Athens and Cairo to reduce temperatures without exacerbating the problem. Successful long-term outcomes depend on scaling affordable, low-energy technologies globally to ensure developing nations can meet cooling demands while avoiding high-end exclusivity and further environmental degradation.

The hidden cost of black hair

The event examines the $4 billion to $9 billion U.S. ethnic hair care market, highlighting severe health risks from unregulated chemicals and historical biases that have long marginalized natural Black hairstyles. It details how Black entrepreneurs, exemplified by Rachel Tumasi-Cawson and Joycelyn Maté, are disrupting this landscape by launching health-focused brands that address specific needs like traction alopecia while navigating a regulatory environment with minimal federal oversight. Furthermore, the discussion tracks the cultural and legislative shifts driving the natural hair movement, including the declining sales of relaxers and the recent passage of "Crown Act" legislation to ban hair discrimination in professional settings.