Latest Interviews
Showing 451–465 of 1,304 transcripts.
Clear all filters- Goldman Sachs23 min
Navigating Macro Headwinds: A Conversation With the Founders of Brex and Chief
Kim Posnett, Henrique Dubugras, Carolyn Childers, Allison Nathan
At Goldman Sachs' 11th Annual Builders and Innovators Summit, Allison Nathan moderated a dialogue between Carolyn Childers, CEO of the women's executive network CHIEF, and Enrique Dubagras, Co-CEO of fintech firm Brex, to discuss their strategic pivots during a macroeconomic downturn. Childers detailed CHIEF's billion-dollar valuation and UK expansion as a response to the "Great Resignation," while Dubagras outlined Brex's shift from long-term bets to immediate profitability and opportunistic M&A to navigate reduced corporate spend. The conversation concluded with actionable guidance for founders to balance high-trust cultures and scalable processes against the bureaucratic risks of extreme outlier management.
- Goldman Sachs25 min
China’s Congress: an inflection point?
Susan Shirk, David Li, Hui Shan, Allison Nathan
The 20th National Party Congress of the Chinese Communist Party is expected to solidify President Xi Jinping's third term as General Secretary, shifting China away from collective leadership toward a personalized concentration of authority. Expert analysis regarding the event's economic and geopolitical outcomes presents a divergence: while Goldman Sachs predicts the continuation of strict pandemic controls and structural policies that suppress long-term growth, Tsinghua Professor David Lee anticipates a necessary reprioritization of economic growth to ensure social stability. Concurrently, analysts warn that although Xi may harbor ambitions to resolve the Taiwan issue, the catastrophic risk to his leadership and the cautionary context of the Ukraine war currently act as significant deterrents to military action.
- Goldman Sachs21 min
Scott Kapnick, Founder & CEO of HPS Investment Partners, LLC
Goldman Sachs veteran Scott Kaepernick discusses the convergence of geopolitical realignment and private credit expansion, identifying Europe's energy transition as a primary driver for capital deployment into supply chain resiliency. At HPS, the firm leverages this environment to execute billion-dollar transactions in the non-sponsor market, positioning itself to fill the vacuum left by post-2008 banking regulations while maintaining strict downside protection against recessionary risks. Beyond market strategy, Kaepernick outlines HPS's institutional culture, which prioritizes the Stockdale Paradox in leadership, substantial diversity initiatives like the Howard University partnership, and long-term mentorship to guide the next generation of financial leaders.
- Goldman Sachs17 min
Taking Stock: What’s Ahead for US Markets
Goldman Sachs projects the S&P 500 to remain in bear market territory through early 2023, with a baseline forecast of closing at 3,600 before potentially dropping to 3,150 if aggressive Federal Reserve rate hikes trigger a recession. Investors are currently adopting a risk-off stance by reducing leverage and holding higher cash levels, reflecting a market shift where positive real yields favor safe assets over equities as inflation remains stubborn. While the energy sector is expected to drive Q3 earnings growth, the broader market faces margin compression and earnings declines outside of energy, delaying a market recovery until inflation clarity emerges in mid-2023.
- Goldman Sachs20 min
Breaking Down the Dollar’s Rise
Kamakshya Trivedi, Alison Nathan
Goldman Sachs analysts project further U.S. dollar appreciation driven by America's overheating economy and the Federal Reserve's aggressive rate hikes, which contrast with the constrained monetary policies of the ECB, BOJ, and PBOC. While this strength aids U.S. inflation goals, it forces non-U.S. economies into a difficult trade-off between accepting currency depreciation or risking domestic growth through aggressive tightening, with emerging markets facing severe debt vulnerabilities. Exceptions like the Brazilian real and Mexican peso have resisted these trends by initiating earlier rate hikes, yet analysts anticipate the dollar's dominance will persist until U.S. inflation peaks and global growth stabilizes, unlikely before 2023.
- Goldman Sachs19 min
Alli Webb, Founder of Drybar & President of Canopy
Former Goldman Sachs executive Allison Mass founded Drybar to address salon inconsistencies by offering exclusive, affordable blowouts, a model that rapidly scaled to over 160 locations through viral traction and a rigorous focus on sensory branding. The company successfully pivoted to develop a proprietary product line that dominated retail before being sold to Helen of Troy for $255 million, an exit strategy driven by the need to separate the service and product divisions. Following this success, Mass has applied these operational lessons to launch new ventures like the franchise-based massage concept Squeeze and various consumer goods startups, emphasizing strategic delegation and specialized leadership.
- Goldman Sachs19 min
Will Slaying Inflation Require Recession?
Jan Hatzius, Olivier Blanchard, Alison Nathan
Olivier Blanchard and Jan Hatzius present conflicting views on whether the post-pandemic labor market can rebalance through reduced vacancies without triggering a recession, with Blanchard predicting unemployment must rise to 6–7% to tame inflation while Hatzius forecasts a modest 4.2% increase by late 2024. Blanchard attributes current structural mismatches and wage-price spirals to a higher natural rate of unemployment requiring severe economic contraction, whereas Hatzius attributes high vacancies to temporary supply constraints that are now resolving through decelerating growth rather than layoffs. The debate highlights divergent recession probabilities, with Blanchard viewing a downturn as inevitable under current Fed tightening and Hatzius estimating a 30% chance over the next year as the economy navigates a potential soft landing.
- Goldman Sachs26 min
Bear Market Bounce or Stock Market Bottom?
Peter Oppenheimer, Alison Nathan
Current equity rallies are classified as bear market corrections rather than a transition to a new bull cycle, as key indicators including valuations, economic deterioration, and investor sentiment have not yet reached the extremes typically required for a bottom. While Goldman Sachs projects a further 30% decline in major markets with the S&P 500 potentially falling to 3,150 in a recession scenario, the downturn is distinguished from structural crashes by healthier corporate balance sheets and robust regulatory frameworks. Investment strategies are shifting toward diversification and a barbell approach that combines defensive growth with deep-value resources, waiting for specific macro signals before anticipating sustained positive returns.
- Goldman Sachs33 min
Fernando Garcia, Co-Creative Director of Oscar de la Renta & Founder/Creative Director of Monse
Former Oscar de la Renta principal designer Fernando Garcia and partner Laura Fernández founded the gender-neutral label Monse in 2016, leveraging a deconstructed aesthetic and social media strategy to fill a market void before García returned to Oscar de la Renta as co-creative director while retaining ownership of his separate brand. Since the 2014 announcement of his departure, the duo has cultivated a global clientele through a hybrid business model that balances 50% commercial safety with experimental risk, notably driving high-profile celebrity moments like Billie Eilish's viral Met Gala appearance. Their current approach prioritizes cultural adaptability and organic creative evolution, using a melting pot of diverse influences to disrupt traditional luxury norms and guide the brand's shift toward braver, individualistic dressing in the post-pandemic era.
- Goldman Sachs28 min
How Inflation, Rates and Recession Are Reshaping the Real Estate Market
Jeff Fine, Nora Creedon, Allison Nathan
Goldman Sachs identifies a structural shift in real estate where post-pandemic inflation and tighter credit markets have dismantled the asset class's historical role as a universal hedge, necessitating a move toward selective investment in sectors like residential and logistics. While public market REITs face significant dislocations from rising rates and recession fears, the firm highlights opportunities in private distressed assets and evergreen capital structures that leverage specific regional inefficiencies. The outlook for the coming decade demands a departure from broad market exposure, favoring assets with strong pricing power and limited supply constraints over traditional growth cycles.
- Goldman Sachs43 min
Cliff Asness, Founder, Managing Principal, and Chief Investment Officer of AQR Capital Management
Cliff Asness, Sharmeen Mosavar Ramani
AQR Capital Management applies an "applied academia" framework to quantify investment returns, leveraging factors like value and momentum to explain historical outperformance and structuring portfolios to align with client risk tolerance rather than traditional hedge fund fee models. Managing significant volatility through co-designed products, the firm recently capitalized on a resurgence in value trends while warning that these premium returns may normalize over the next two to three years. Founder Cliff Asness anticipates a long-term consolidation in active management but maintains that human error is essential for market efficiency, advising professionals to prioritize intrinsic interest over cyclical industry trends.
- Goldman Sachs36 min
Ian Bremmer, President of the Eurasia Group and Author of “The Power of Crisis”
Global strategist Ian Bremmer argues that the Russia-Ukraine war and climate change serve as "Goldilocks" crises that compel international cooperation to rebuild 21st-century institutions. He contends that while Russia faces absolute isolation and economic collapse following its strategic failures, China remains a pragmatic competitor rather than an ideological ally, with a full-scale invasion of Taiwan deemed unlikely in the near term. By addressing these four critical threats, Bremmer posits that the world can leverage existential risks to forge new alliances and overcome the dysfunction of the current GZERO order.
- Goldman Sachs22 min
Why We’re In a ‘Golden Age’ of Life Sciences Innovation
With the life sciences sector valued at over $2 trillion and projected to surpass $5 trillion through innovations like mRNA and cell therapy, analysts Allison Nathan and Amit Sinha characterize the current climate as a golden era driven by advanced genetic tools and supportive regulation. Despite a decade-long market correction caused by unsustainable capital surges and increased clinical trial failures, the industry is adapting by shifting toward private capital scaling and downstream investments in companies with experienced management. This structural evolution aims to sustain the development of critical breakthroughs, such as gene therapies for spinal muscular atrophy and immunotherapies for rectal cancer, while navigating complex supply chain and biological challenges.
- Goldman Sachs31 min
Food, Fuel, and the Cost-of-Living Crisis
Jeff Currie, Gary Shilling, Meghan O'Sullivan, Chris Barrett, Alison Nathan
Global commodity leaders Jeff Curry and Gary Schilling debated the existence of a new supercycle, with Curry predicting a supply-driven price surge due to structural underinvestment while Schilling forecasts falling prices as demand contracts under recessionary pressures. Cornell Professor Chris Barrett and Harvard's Megan O'Sullivan further analyzed how geopolitical conflicts and energy transitions are driving a food crisis and realigning global power dynamics, warning that persistent high costs will fuel instability and mass migration. The discussion concluded that without significant capital expenditure and technological innovation to resolve supply bottlenecks, the world faces a prolonged period of economic volatility and social unrest.
- Goldman Sachs29 min
Lord Simon Woolley, Co-Founder, Operation Black Vote
Lord Simon Woolley, Ian Drayton
Hosted by Goldman Sachs' Ian Drayton, Lord Simon Woolley discusses his journey from a Windrush-generation upbringing to founding Operation Black Vote, where he pioneered a non-partisan strategy to mobilize 20,000 minority voters and force political parties to address racial justice. The conversation details how this approach secured legislative influence in the 1997 election and created a leadership pipeline that includes Mayors and ministers, while critically examining institutional exclusion in elite education. Woolley concludes by challenging the next generation to embrace their heritage and demand success, framing representation as a necessary foundation for drawing others into positions of power.