Latest Interviews
Showing 1–15 of 1,191 interview transcripts.
Clear all filters- Goldman Sachs24 min
How Family Businesses Should Plan for Generational Success
FX de Mallmann, Tucker York, Alison Nathan
While family-owned enterprises drive 70% of global economic output and dominate sectors from luxury goods to defense, only 10% successfully transition to a third generation due to poor succession planning. Key operational challenges include the tension between emotional family identity and the need for disciplined capital allocation, often necessitating the integration of professional non-family management as firms scale. To mitigate concentrated risk and resolve governance conflicts, successful transitions increasingly rely on formal exit mechanisms, external capital infusions, and a strategic shift from business management to long-term wealth stewardship.
- Goldman Sachs17 min
Daniel Nadler on Building an AI-Powered Search Engine for Medicine
Founded by Dr. Daniel Nadler, Open Evidence functions as an AI-powered "MRI of medical knowledge" that aligns physicians with current clinical standards by reducing the 17-year gap between research and practice to mere hours. Backed by Google and formalized partnerships with the New England Journal of Medicine and NCCN, the platform utilizes licensed, full-text data to eliminate information overload and hallucinations inherent in general large language models. This technology currently processes 1.5 million verified queries to standardize care across complex specialties like oncology, with a long-term strategic goal of eliminating medical error as a leading cause of death.
- Goldman Sachs24 min
How Family Businesses Should Plan for Generational Success
FX de Mallmann, Tucker York, Alison Nathan
Despite accounting for 70% of global economic output and 80% of US enterprises, family-owned businesses face steep succession hurdles, with only 30% surviving into a second generation and 10% reaching the third. These entities often outperform non-family peers by prioritizing legacy continuity and disciplined capital allocation, yet they frequently lack formal succession plans to navigate the complex alignment of founder objectives with next-generation aspirations. Strategic governance mechanisms and the professionalization of management are critical for overcoming these transition challenges and sustaining value through generational shifts.
- Goldman Sachs27 min
US Soccer's JT Batson in the World Cup and Scaling the Game
US Soccer is executing a five-year strategy to position the Men's National Team for global dominance while leveraging the 2026 World Cup, 2028 Olympics, and 2031 Women's World Cup to drive systemic growth across youth, collegiate, and professional sectors. Under the leadership of executive JT Batson, the organization is replacing its traditional "challenger" mentality with a high-performance culture centered at a new Atlanta headquarters, prioritizing structural changes to make soccer America's number one sport through curriculum integration and cost reduction. This comprehensive approach aims to align high-profile coaching hires, expanded league partnerships, and social impact initiatives to secure a lasting legacy where the U.S. consistently competes for and wins world titles.
- Goldman Sachs12 min
The Bond Market May Be the Stock Market's Biggest Risk
Tony Pasquariello, Chris Hussey
Goldman Sachs economists led by Tony Pasquarello analyze a unique macro environment where aggressive Fed rate hikes collide with a $1.3 trillion AI investment surge and a $2 trillion fiscal deficit. This dual impulse is sustaining robust economic growth despite decelerating corporate earnings and rising bond yields, which Pasquarello identifies as the primary risk to equity valuations. Consequently, institutional strategies are shifting toward defensive bond positioning while favoring specific trades in Japanese domestic indices and anticipating significant market volatility ahead of the upcoming Non-Farm Payrolls report.
- Goldman Sachs19 min
Why Markets May Be Pricing in Too Many Fed Rate Hikes
Rob Kaplan, Warsh, Alison Nathan, Robert Kaplan
On September 22, 2026, Goldman Sachs Exchanges featured former Dallas Fed President Robert Kaplan analyzing the Federal Reserve's first rate hike in three years under new Chairman Kevin Warsh, a move driven by persistent 3% inflation rather than market speculation. Kaplan highlighted the Fed's cautious outlook, noting that conflicting economic forces—specifically booming AI infrastructure versus sluggish housing markets—support a decision to pause further increases until December despite Treasury yields exceeding 5%. While maintaining that FOMC members operate free from political pressure, Kaplan warned that a prolonged supply shock risks broadening inflation if economic data such as PCE and CPI indicators in October show no sign of firming.
- Goldman Sachs19 min
Ryan Serhant on the Art of Selling Luxury Real Estate
Ryan Serhant, who pivoted to real estate in 2008 and subsequently starred in the ten-season run of *Million Dollar Listing New York*, has built a diversified technology and services firm that currently surpasses $1 billion in monthly transaction volume. Unlike traditional brokerages, Serhant's company utilizes an organic, content-driven inbound strategy to recruit intrapreneurs and deploy AI tools that streamline complex transactions without paying for customer acquisition. Looking ahead, the firm is repurposing commercial spaces to address housing shortages while integrating artificial intelligence to enhance human relationship-building, a strategy that recently enabled the industry's most expensive residential sale of $308 million.
- Goldman Sachs18 min
Can Stocks Rally With a Hawkish Fed?
Tony Pasquariello, Josh Schiffrin, Dominic Wilson
A panel of financial experts analyzes shifting market expectations for a tightening cycle of two to four rate hikes, emphasizing that oil prices exceeding $100 per barrel remain the critical variable for future inflation and a potential Federal Reserve pivot. Current fixed income and equity markets reflect a "higher yield world" driven by AI capital competition and fiscal deficits, yet demonstrate resilience with U.S. GDP projected to hold near 2% and unemployment trending lower despite energy headwinds. Strategists suggest that while the environment remains range-bound, a decisive drop in oil prices could catalyze an all-assets rally, prompting recommendations to utilize call options for the upside while monitoring the Fed's hawkish stance.
- Goldman Sachs11 min
The Opportunities for Investors amid Higher-for-Longer Interest Rates
Federal Reserve Chair Walsh and analysts at a recent policy briefing highlighted a consensus for two annual rate hikes, emphasizing that current monetary tightening merely withdraws accommodation rather than establishing a restrictive stance. While long-duration Treasury yields near 5% have sparked market volatility due to supply imbalances and demographic shifts, experts argue that U.S. debt sustainability concerns are unfounded given robust nominal GDP growth. Investors are advised to capitalize on the asymmetric opportunities in compute and data center sectors while monitoring geopolitical risks in the Middle East as the primary variable threatening future inflation stability.
- Goldman Sachs42 min
Rich Friedman on the Rise of Private Markets and AI Investing
Goldman Sachs Merchant Bank partner Rich Friedman discusses the firm's evolution from its 1992 inception into a $3–5 trillion global leader while navigating current exit challenges that have slowed deal activity. Friedman emphasizes a disciplined operational philosophy characterized by a five-to-seven deal annual cap, strict integration with broader bank strategy, and a high percentage of employee capital co-invested alongside client funds. Looking forward, the firm targets value in infrastructure support, wealth management, and sports services while exercising caution against overhyped technology sectors.
- Goldman Sachs27 min
Why Global Bond Yields Are Surging
Global government bond yields have surged to multi-decade highs due to synchronized pressures from historic fiscal deficits, AI-driven private borrowing, and energy price shocks. In response, major treasuries are shifting issuance strategies toward shorter maturities and executing long-duration buybacks to manage liquidity without reversing the fundamental yield trajectory. Investors are advised to reduce duration exposure amidst inflation risks while monitoring AI CapEx trends and fiscal consolidation signals for potential medium-term market normalization.
- Goldman Sachs11 min
What a Fed Rate Hike Could Mean for US Stocks
Jonathan Shugar, Chris Hussey, John Sugar
Goldman Sachs' cross-asset sales team marked the 25th anniversary of the 9/11 attacks while outlining a market outlook driven by an anticipated 50 basis point Federal Reserve rate hike and a projected S&P 500 target exceeding 8,000 points. The team identified the back end of the rate curve and surging AI infrastructure capital expenditures as primary risks, recommending 30-year swap payers to hedge against global fiscal deficits while favoring AI semiconductors and experiential consumer stocks as key growth opportunities. Additional strategic focus was placed on mitigating geopolitical energy disruptions in Europe and capitalizing on Brazil's upcoming election cycle as a potential counter-trend play.
- Goldman Sachs18 min
How AI is Affecting GDP Growth, Productivity, and Jobs
Sharmin Mossavar-Rahmani, Jan Hatzius
Goldman Sachs estimates that while AI currently contributes a modest 0.1 percentage points to U.S. GDP, it is driving $600 billion in domestic capital expenditure with projections reaching up to $7 trillion cumulatively by 2030. Over the next decade, these investments are expected to raise productivity levels by approximately 15% and push long-term growth forecasts into the mid-2% range, despite immediate headwinds from import deductions and capital reallocation. Although roughly 25% of work tasks are exposed to AI technology, analysis suggests only 6% to 7% will result in direct job elimination, leading to a gradual transition that may raise the unemployment rate by up to 1 percentage point over ten years without triggering a sudden labor shock.
- Goldman Sachs12 min
Why Gold Is Expected to Rise to Record Highs
Goldman Sachs and analyst Tony Kim characterize the current gold market as an elongated pause rather than a trend reversal, with prices hovering 20% below January peaks amid Federal Reserve policy uncertainty and U.S.-Iran geopolitical disruptions. Structural shifts have fundamentally altered market dynamics, as central bank purchases surge from 400 tons to over 1,000 tons annually while Indian currency defense policies constrain physical demand, creating a supply shortage that could decouple gold prices from bond yields. Strategic analysis identifies $4,000 per ounce as a critical support floor, prompting recommendations to scale into long positions ahead of upcoming CPI data that will define the Federal Reserve's immediate reaction function.
- Goldman Sachs40 min
Dipan Patel on Permira’s ‘Artisanal’ Approach to Private Equity
Dipan Patel co-manages Premier, a $100 billion private partnership that integrates AI intelligence layers into mid-market businesses to drive bottom-line growth across consumer, healthcare, services, and technology sectors. The firm differentiates itself through an artisanal leadership model that prioritizes collective investment decisions, an anti-fragile risk culture, and a distribution target of 20–25% while aligning its philanthropic foundation directly with fund performance. By focusing on deep specialization over broad scaling, Premier seeks to capitalize on structural trends in energy transition and medical advancement while avoiding the pitfalls of market disruption that plague commodity-focused competitors.