Latest Interviews
Showing 31–45 of 342 transcripts.
Clear all filters- Goldman Sachs41 min
Apollo's Jim Zelter on the Future of Private Credit
Apollo Global Management, led by Jim Zelter, is strategically expanding its $970 billion asset base to finance a projected $5 trillion to $6 trillion capital expenditure surge driven by AI infrastructure and industrial reshoring. By leveraging its integrated insurance subsidiary Athene and $150 billion in recent investment-grade capital, the firm aims to dominate the $40 trillion private credit market with a focus on large-scale projects like the Intel semiconductor venture and Japanese corporate carve-outs. This approach seeks to capitalize on the shift from non-investment grade lending to massive investment-grade financing needs while maintaining disciplined risk management that prioritizes fundamental value over market noise.
- Goldman Sachs33 min
Holocaust Survivors on Hope, Survival, and the Responsibility to Remember
Bernie Schanzer, Sheara Fredman
Brothers Henry and Bernie Shanzer recount their survival of the Holocaust as hidden children in Belgium and France, relying on their mother and four French rescuers who sheltered them from arrest and deportation during World War II. Despite their father's death in Convoy 27 and initial betrayal by a caretaker, the boys were saved through a network of false documents and hidden on farms before reuniting with their family in 1945, earning posthumous "Righteous Among the Nations" recognition for their saviors. The speakers emphasize the ongoing relevance of their testimony by linking historical persecution to modern anti-Semitic violence, urging the audience to maintain active vigilance and moral courage to prevent future atrocities.
- Goldman Sachs31 min
Reimagining Biopharma: Precision Medicine, Patients, and Purpose with Takeda CEO-Elect
Takeda's Board unanimously appointed Julie Kim as the incoming President and CEO, effective June 2026, to steer the $30 billion pharmaceutical giant through a strategic overhaul centered on AI-driven discovery and organic growth. During her incoming tenure, Kim plans to leverage the company's Japanese headquarters for geopolitical flexibility while navigating complex regulatory hurdles regarding Chinese clinical data and U.S. pricing structures. Her leadership strategy emphasizes "market innovation" to improve patient access and utilizes a "giving people an A" philosophy to accelerate talent development within the organization.
- Goldman Sachs22 min
Sir Sadiq Khan on London’s Global Edge—and What Comes Next
Sir Sadiq Khan, Kunal Shah, Sadiq Khan
London Mayor Sir Sadiq Khan emphasizes the capital's economic dominance by highlighting its £42 billion annual contribution to the UK Treasury while advocating for strategic devolution of powers to foster non-zero-sum regional growth. His administration aggressively targets five frontier sectors including AI and quantum computing, simultaneously deploying an inclusive talent strategy to prepare residents for rapid technological disruption. These economic initiatives are supported by tangible achievements in infrastructure, such as expanded safe cycling networks and five years of frozen transport fares, alongside historic improvements in air quality and public safety that have surpassed international peers.
- Goldman Sachs21 min
AI Exchanges: Power Problems?
Brian Singer, Alison Nathan, George Lee
Goldman Sachs projects a 220% surge in global data center power demand by 2030 as hyperscalers commit over $300 billion to infrastructure, a trajectory comparable to adding the world's sixth-largest power consumer to the grid. This aggressive expansion faces severe bottlenecks in skilled labor and transmission supply, forcing a near-term reliance on natural gas simple-cycle generators while industry leaders navigate regulatory hurdles and "agentic" AI traffic growth. Despite the high capital intensity and a potential $40 per megawatt-hour premium for green energy, major technology firms maintain robust balance sheets to fund these transition costs while seeking to decouple their power expenses from consumer utility rates.
- Goldman Sachs37 min
The Business Builder: New Mountain Capital's Steve Klinsky
Steve Klinsky, the CEO of the $60 billion New Mountain Capital, established the firm in 2000 to pursue a "defensive growth" investment strategy focused on operational improvements within non-cyclical sectors like infrastructure and healthcare technology. Under his leadership, the firm has achieved significant milestones including the $8 billion expansion of supply chain software provider Blue Yonder and the creation of over $100 billion in enterprise value through private credit. Klinsky continues to drive the firm's integration of Generative AI to optimize portfolio margins while maintaining active philanthropic leadership through his Modern States Education Alliance and long-term vision for the private equity landscape.
- Goldman Sachs20 min
Iran Conflict: How Long, and How Bad?
Sanam Vakil, Dennis Ross, Kevin Donegan, Alison Nathan
Entering its fourth week, the Iran conflict has evolved into a regime-survival struggle where Tehran seeks to spread costs widely while the U.S. military targets Iran's missile capabilities and nuclear program. Strategic deadlock persists over the Strait of Hormuz, as limited convoy operations can only restore roughly 20% of normal oil flows despite rehearsed allied defenses. Panelists conclude that resolving this locked-in scenario requires a mediated outcome, though recent political assassinations and the need to rebuild Iran's collapsed economy complicate any immediate return to pre-conflict stability.
- Goldman Sachs10 min
“I’d Rather Be a Bond”
Goldman Sachs Asset Management projects two U.S. interest rate cuts this year, diverging from market expectations that favor holding rates steady through 2026, as the Federal Reserve focuses on core inflation and labor market stability despite an energy shock driven by the Iran conflict. This geopolitical tension has caused bond yields to expand by 50 to 175 basis points, creating attractive entry points for investors who favor fixed income over equities to capitalize on widened credit spreads and rising real yields. Upcoming policy decisions from the U.S. Federal Reserve, the Bank of Japan, the ECB, and the Bank of England in April are expected to clarify rate trajectories and alleviate current market volatility.
- Goldman Sachs32 min
Private Credit Concerns in Context
Alex Blostein, Vivek Bantwal, Allison Nathan
Amidst a sentiment shift driven by opacity and liquidity concerns, Goldman Sachs analysts project that private credit assets will avoid a systemic crisis despite a 15% annual growth slowdown and concentrated software exposure. While retail investors face potential redemptions constrained by fund caps, institutional direct lending remains insulated by conservative Loan-to-Value ratios and a 9–10% spread cushion that has yet to produce significant defaults. The sector's resilience relies on distinguishing between high-quality borrowers and vulnerable single-B names, with market recovery anticipated as idle capital returns to attract more attractive covenant terms over the next two years.
- Goldman Sachs20 min
Steven Mnuchin: Navigating Credit Cycles, AI Investment, and Fiscal Policy
A leading economic strategist analyzes a converging trajectory of massive AI-driven capital expenditure, a resilient credit market dominated by private lending, and persistent fiscal challenges stemming from a 125% debt-to-GDP ratio. The speaker argues that while aggressive infrastructure build-outs and trade tariffs create market volatility, sustained economic growth of 3% or higher remains essential to maintain U.S. fiscal health and global currency dominance. Despite identified risks in labor supply and political spending inaction, the outlook projects continued U.S. outperformance through strategic technological adoption and a shift in banking dynamics.
- Goldman Sachs15 min
Emerging Markets: Stirred, But Not Yet Shaken
Kamakshya Trivedi, Alison Nathan
Goldman Sachs analysts observe that risky assets recently reversed gains following an Iran conflict-driven oil spike, shifting market expectations from rate cuts to an inflation shock that has strengthened the US dollar through favorable terms of trade. While traditional hedges have underperformed, the firm maintains a positive outlook for emerging market equities, projecting 10–12% upside driven by robust earnings and structural trends like the AI semiconductor supply chain rather than multiple expansion. This bullish stance assumes the energy crisis remains short-duration; however, a prolonged conflict threatening physical supply shortages could force a re-evaluation of growth estimates and trigger significant market damage.
- Goldman Sachs28 min
Europe’s Opportunity, AI, and Market Volatility with Goldman Sachs International's Co-CEOs
Anthony Gutman, Kunal Shah, Allison Nathan
Goldman Sachs navigates Middle East geopolitical instability while reinforcing its regional foothold through a new Riyadh wealth license and a $25 billion partnership with the Qatar Investment Authority. Strategically, the firm capitalizes on resilient Asian markets and European growth pockets in Spain and Poland, targeting infrastructure financing and private wealth expansion despite short-term currency volatility. Driven by robust corporate balance sheets and AI-fueled efficiency, leaders maintain a positive long-term economic outlook and anticipate continued M&A activity and capital market issuance as markets differentiate between structural trends and event-driven shocks.
- Goldman Sachs15 min
Can Software Survive AI?
Gabriela Borges, Allison Nathan
Goldman Sachs and industry analysts report a market sentiment shift in the software sector, where investor concerns over AI-driven existential risks have triggered significant sell-offs by challenging the defensibility of incumbent technology moats. In response, major players like Salesforce and Microsoft are executing strategic replatforming, targeted M&A, and granular monetization tactics to validate that their integrated AI solutions outperform third-party alternatives. Despite slowed revenue growth rates, the sector is showing signs of stabilization as companies demonstrate improved free cash flow margins and attract value-oriented investors seeking GAAP profitability over unchecked stock-based compensation.
- Goldman Sachs31 min
Lloyd Blankfein on His Memoir, Risk Management and Leadership
Lloyd Blankfein, David Solomon
Former Goldman Sachs Chairman and CEO Lloyd Blankfein details his tenure from 2006 to 2018, contrasting the firm's unique partnership culture with post-IPO public market pressures while outlining specific strategies that enabled survival during the 2007–2008 financial crisis. He attributes this resilience to rigorous mark-to-market accounting and a proactive risk-management focus on tail events, rather than predictive foresight, alongside a leadership philosophy centered on "managing down" to foster collective ownership. Blankfein's memoir, "Streetwise," further examines his journey from Brooklyn public housing to Wall Street, the firm's expansion into philanthropy through 10,000 Women, and the deliberate preservation of Goldman Sachs' distinctive internal culture amidst structural evolution.
- Goldman Sachs14 min
Oil Market Impacts from Iran
Daan Struyven, Alison Nathan, Don Stroivind
A U.S. and Israeli military campaign against Iran resulted in the death of Supreme Leader Ayatollah Ali Khamenei, triggering a significant disruption to oil flows through the Strait of Hormuz and causing Brent crude prices to surge 25% year-to-date. While Goldman Sachs forecasts a base case of no sustained supply interruptions with prices stabilizing by late 2026, the market currently prices in a risk premium for a potential one-month closure that could drive costs to triple digits. As global spare capacity remains trapped by the blockade and U.S. Strategic Petroleum Reserve levels remain low, the situation presents immediate inflationary risks and elevated geopolitical tail risks for Gulf Cooperation Council infrastructure.