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 mean, the we often learn the wrong lessons from looking at history.

A lot of chip companies look at NVIDIA and they sort of only we'd been like NVIDIA.

Think of how much money we could have made in the AI chip business.

Or and I think that the NVIDIA lesson for a lot of companies is if you bet big on a growth business and it works out, you're going to be this insane.

Only

Valuable company.

But that's betting.

That's not investing.

You can't run a company betting on

The odds that you have right now, and collectively, that's why I think they're going to collectively, I think they're overinvesting.

I don't think there's a question.

The question is whether there'll be one big win and lots of big losers, or how big the losers will be, or how this business will shake out.

With the worry that somebody outside the space who didn't invest like they did.

Could be a late entrant into space, but because you know it's like, you know, every time I take the train from San Diego to LA, I curse the fact that US railroads were built a hundred years before everybody else, because they were built for trains that could go only 25 miles an hour.

And by the time you got around to putting faster speed, you could you couldn't take my worry is you're building AI architect.

And you might find out three years from now that you've been building for the wrong kind of product and service.

And that's the charitable view you can take of Apple is they have the money to spend if they wanted to.

And maybe they'd rather wait for this turmoil to clear up and people to find that end game before they jump in with tens of billions.

But I think, I mean, uneasy is the word.

I was used worried might be, you know, might be the follow-up to that, but I'm uneasy about the way they're spending money.

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