Latest Interviews

How to find alpha: Bridgewater Associates’ Co-CIO Karen Karniol-Tambour

Karen Karniol-Tambour, Roelof Botha, Joe Baratta, Jon Winkelried, Tony Pasquarello

Bridgewater Associates' Co-CIO team outlines a US economic landscape defined by sustainable 3% growth and a neutral rate near 3%, driven by an AI-fueled capital expenditure cycle and supply-side labor dynamics. The strategy pivots toward a diversified portfolio positioning that favors Japanese equity normalization, Chinese asset valuation discounts, and Euro currency strength while maintaining a structural US dollar tilt amidst rising global deficits. These macroeconomic views are integrated with a philosophy of radical transparency and algorithmic rigor to navigate complex themes ranging from AI-driven inflation to divergent post-election fiscal trajectories.

Labour’s love lost: Keir Starmer’s first 100 days

Keir Starmer, Rosie Bloor, Matthew Holhouse, Sasha Nauta, Anne Rowe

Prime Minister Keir Starmer's first 100 days have been marked by internal strife, including the departure of Chief of Staff Sue Gray and criticism over ethics violations, as his administration pivots from campaign fiscal restraint to funding infrastructure through revised borrowing rules. Meanwhile, in the US, Nevada remains a pivotal battleground where abortion ballot measures and hospitality worker incentives are driving the close contest between Democrats and Republicans, with Kamala Harris emphasizing reproductive freedom to mobilize independent voters. The period also concluded with the death of Yoshioka Masamitsu, one of the last surviving Pearl Harbor bombers, who spent his final years expressing deep remorse for his role in the attack on the USS Utah.

Alex Kolicich, 8VC | AI & Defense Tech Renaissance

Alex Kolicich, Molly O'Shea

Speaker Alex Koloseich analyzes the current AI landscape marked by extreme valuation divergence, where early-stage startups trade at hundreds of times revenue while public software returns to historical averages, creating a precarious "peak of inflated expectations." He advocates for aggressive, frequent capital raising among AI-adjacent firms to avoid a coming normalization and highlights a transformative surge in the defense sector, where agile startups like Anduril are displacing traditional primes by leveraging new contracting authorities such as Other Transaction Authority. Despite these opportunities, Koloseich warns of inherent instability driven by leadership departures at major firms like OpenAI and diminishing returns on large-scale compute, suggesting that value will likely accrue to new "supervisor software" platforms rather than existing incumbents.

Ingo Uytdehaage, Adyen | All-In Summit 2024

Ingo Uytdehaage, Jason

Adyen, the European payment processor with a $45 billion market capitalization, processed nearly €1 trillion in volume in 2023 while maintaining a 46% EBITDA margin through its single global platform and direct banking licenses. Under a Co-CEO structure led by Ingo Daan and founder Peter Szucs, the firm distinguishes itself from competitors by prioritizing profitability over growth at all costs and deploying AI to optimize transaction routing in markets like India. With the US now accounting for over one-third of revenue, Adyen continues to challenge traditional banking incumbents by offering lower total payment costs and high authorization rates without relying on fragmented legacy systems.

Paradise lost: Hurricane Milton bashes Florida

Rosie Bloor, Oliver Morton, Nick Pelham, Emily Steinmark

Hurricane Milton rapidly intensified into a Category 5 storm driven by warm ocean waters, prompting President Biden to issue evacuation warnings as it caused widespread power outages and structural damage across Florida while experts link its severity to climate change trends. Concurrently, the crisis has injected urgency into the US election cycle amidst political disputes over disaster response, paralleling a resurgence in global Palestinian activism that has shifted cultural perceptions and heightened fears of further Israeli expansion. In the scientific realm, imminent development of a nuclear clock prototype promises to test fundamental physics theories through unprecedented precision, marking a significant leap in measuring time via nuclear transitions rather than current atomic standards.

UiPath ft. Daniel Dines - From Bootstrapping in Bucharest to One of Software’s Biggest IPOs

Daniel Dines, Roelof Botha, Andra Ciorici-Chelmus, Brandon Deer, Luciana Lixandru, Andra Chorich-Kelmush

Founded by Daniel Dines in a Bucharest apartment, UiPath pivoted from a developer SDK to Robotic Process Automation in 2012 to address global enterprise inefficiencies, eventually becoming the fastest-growing SaaS company through an aggressive international expansion strategy. Following severe financial strain and organizational issues that forced a 10% workforce reduction in 2019, the company successfully integrated generative AI to modernize its platform and navigate the 2020 pandemic. Despite Dines briefly stepping down as CEO in early 2024 to focus on innovation, he reclaimed the role to address internal silos, stabilizing the business which now serves over 10,000 customers globally.

Google’s lurch: how to fix its monopoly

Rosie Bloor, Alice Fullwood, Kate Parker, Vishnu Padmanabhan

The US Department of Justice has proposed remedies to dismantle Google's alleged search monopoly, which generates roughly $26 billion annually through exclusive default agreements, with final penalties to be decided in a trial next year. While Google faces potential restrictions on paying for default status and mandatory data sharing to foster competition, the agency must also weigh the rising threat of generative AI as a market disruptor. Concurrently, global water utilities are deploying advanced leak detection technologies, including acoustic loggers and in-pipe robots, to combat aging infrastructure losses despite significant capital costs and regulatory hurdles. These technical solutions are increasingly supported by government green transition funds aimed at mitigating water scarcity, even as trials continue to address contamination risks associated with autonomous repair systems.

Why oil and gold prices could keep rising

Daan Struyven, Alison Nathan

Geopolitical tensions in the Middle East have elevated regional war risks, potentially disrupting oil supply despite six million barrels per day of spare capacity held by UAE, Saudi Arabia, and Kuwait. While Goldman Sachs forecasts Brent crude between $70 and $85 for 2025 driven by U.S. demand growth, a Strait of Hormuz closure could spike prices to triple digits, whereas China's modest economic stimulus limits demand expansion. Simultaneously, gold prices are projected to rise to $2,900 by early next year as central bank diversification and a global monetary easing cycle provide structural support, making gold a superior hedge against non-supply driven macroeconomic risks.

The best consumer companies incorporate both virality and network effect to grow organically.

Metcalfe's Law posits that a network's value scales with the square of its user base, transforming a single-user platform like WhatsApp from worthless to globally vital. This dynamic illustrates how the mathematical relationship between nodes and utility drives exponential growth for individual participants. Consequently, consumer companies achieve organic expansion by strategically combining distinct mechanisms of virality and network effects.

Dave Ricks, CEO of Eli Lilly | The All-In Interview

Dave Ricks, Friedberg

Under CEO Dave Ricks, Eli Lilly has expanded its market capitalization to $878 billion while dominating the GLP-1 weight loss market through innovations like tirzepatide and the upcoming oral drug orforglipron. These scientific breakthroughs address a global obesity crisis affecting billions, with the company investing heavily in domestic manufacturing and AI-driven research to sustain high-growth revenue projections. Despite facing political scrutiny over pricing and reimbursement limitations, Lilly is leveraging a rapid development culture and direct-to-consumer platforms to maintain industry leadership and expand treatment access.

General rule: how to reinvent America’s army

Randy George, Elias Khoury, Jason Palmer, Rosie Bloor, Ethan Wu, Anne Rowe

Under General Randy George, the U.S. Army is pivoting from counter-insurgency to high-intensity state conflict by reducing vehicle fleets to prioritize combat training while simultaneously surging artillery production and exceeding recruitment targets. To accelerate modernization against rivals like Russia and China, the service has launched an innovation pilot testing new equipment in active brigades to bypass traditional procurement bottlenecks, though military leaders remain skeptical about scaling these experimental successes across the entire force. This strategic shift occurs alongside a managed trade-off where reduced maintenance burdens free resources but introduce operational risks amidst ongoing procurement challenges and rapidly evolving adversary capabilities.

Snowflake CEO Sridhar Ramaswamy on Using Data to Create Simple, Reliable AI for Businesses

Sridhar Ramaswamy, Sonya Huang, Pat Grady, Sonia

Snowflake CEO Sridhar Ramaswamy is driving the company's transformation into an "AI data cloud" that integrates acquired search technology from Neva to serve over 10,000 enterprise customers. The organization addresses reliability concerns in generative AI by prioritizing context engineering and managed governance, enabling business users to access data through grounded chatbots without extensive custom software development. This strategic pivot aims to democratize software creation by embedding AI directly into data workflows, positioning Snowflake to capitalize on the shift toward interoperable cloud storage and controlled mobile ecosystems.

Navigating the United Kingdom's New Political Era | Asia Summit 2024

Jonathan McClory, Catherine West, Rachel Wolf

Following the 2024 UK general election, the Labour Party secured an absolute majority under Prime Minister Keir Starmer to address stagnant growth and fiscal constraints while prioritizing planning reform and rapid energy decarbonization. The administration is leveraging its new mandate to boost investment in the Indo-Pacific region, evidenced by the CPTPP accession and recent deals with South Korean and Australian entities, while simultaneously finalizing a stable three-principle framework for relations with China by early spring. Chancellor Rachel Reeves and the Treasury face the challenge of funding these growth initiatives without raising taxes on the majority of workers, necessitating potential levies on businesses and assets amidst a domestic political landscape where all major parties struggle to exceed 30% support.

Solving Puzzles in Production with Liora Friedberg

Liora Friedberg, Ron Minsky

Jane Street's production engineers serve as the first line of defense for its trading systems, balancing active live support with long-term projects to enhance reliability and manage a broad mental model of interconnected infrastructure. Through a blame-free culture and specialized training involving incident simulations, the team rigorously analyzes high-severity events to drive system improvements while leveraging custom tools like Oculus for precise observability and alert management. Recruiting efforts identify candidates with strong debugging instincts and communication skills who can navigate the unique pressure of minimizing opportunity costs during financial disruptions.

The Weekend Intelligence: Gaza, after the dust settles (republished)

Zanny Minton Beddoes, Greg Karlstrom, Dana Struhl, Mohamed Mustafa, Shahabil al-Zayim, Moussa Abou-Mazouk, Bassem Naeem, Nick Pelham, Leah, Yael, Yoaz Hendel, Simcha Rothman, Yair Golan, Naftali Bennett, Anwar al-Jundi Abu Subi, Tarnim, Matthew Hollingworth, Ali Shaf

Nine months into the conflict, Gaza faces near-total destruction and a humanitarian catastrophe as competing visions for post-war governance emerge, with the US and Palestinian Authority advocating for a revitalized PA while Israeli factions range from rejecting a political horizon to proposing indefinite military control. Security vacuums are already being filled by armed criminal gangs and Hamas, creating a lawless environment that threatens to collapse into permanent instability without a credible international or Israeli security plan. Experts warn that the absence of political consensus, combined with the logistical failure of aid delivery and the scale of rubble requiring forty million tons of clearance, renders a successful transition vanishingly unlikely.