Aswath Damodaran

speaker

1,201 appearances 7 recordings 3 series first heard May 2025 last heard 7 Aug

Aswath Damodaran’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 6 in all, peaking in Nov 2025 with 2.

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Prof G Markets · Aswath Damodaran: Big Tech Has No Idea How AI Pays Off · 7 Aug 2026 podcast

I have to be willing to listen.

So I try my best to read as much as I can from the AI optimism.

I'm looking for a story that explains economies of scale.

But so far the story still seems to be focused on fuzzy end games and how great.

AI agent has worked in an individual business, I'm not seeing the aggregate numbers from any of these stories that lead me to say, okay, there's something here that I should be taking a closer look at.

So it's going to be a race between whether those stories come into play or whether the skepticism builds up to a point where people stop believing.

I can live with them and it's because of my framing.

I frame them based on what I paid for them.

I paid for them a long time ago.

I know this sounds irrational, but if we keep comparing the price to something, you know, that I could have got it for six months ago, a year ago.

So I'm willing to accept 20% write down in those investments and accept it as part of the long-term costs and benefits.

No, the reason I do it is if I think there's a shake out in the AI space, these companies will be impacted.

But the lesser companies in the space that are I mean, none of these companies have net debt ratios that are beyond the single digits.

Their debt is completely manageable.

And I did net to debt to habitat for all of these companies, one and a half times abat.

So basically next year they stopped investing in AI.

The year and a half of Ebada from the regular businesses would pay off the debt.

So debt is not my my concern with these companies.

But there are a whole host of lesser companies where debt is a much bigger component.

There an AI meltdown in the story will be catastrophic.

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