Bill Ackman
speaker
1,217 appearances
6 recordings
6 series
first heard Feb 2024
last heard 3 Jun
Bill Ackman’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.
Appearances
Actually, today we own Microsoft, we own Meta, we own Amazon.
Actually, I think either directly or indirectly, you're invested in AI, or it's a threat, so you have to understand it.
How do I think about AI in a business model context?
Look, when you're a concentrated investor or an investor generally and you're a long-term investor, the most important and most challenging thing to do is determine what's the risk of disruption?
What's the risk of two guys, two women from Stanford in a garage coming up with something?
That risk, I think, has gone up dramatically.
This is the greatest era in history
just to build a business, right?
There's unlimited access to compute, certainly for a startup, unlimited access to capital, and a lot of incredible talent, which means that the probability of your being disrupted has gone up enormously.
So the hardest thing you have to do as an investor is
understand, and that's really where we spend most of our time.
What's interesting about markets is people always bring their eye to the new, new thing.
And the new, new thing is sort of chips and semiconductors and energy.
And that's where, you know,
the shorter term capital is going.
What tends to happen is really high quality things get left behind.
And the same thing really happened, I was there in 2000, in that sort of bubble, this is different, I'm not saying this is, but there's some analogies.
And the analogies are people got excited about internet stocks,
And Berkshire Hathaway traded at the lowest valuation I think it ever traded at in its history.
People said, oh, that's all old stuff.
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