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.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.
Appearances
And today we buy a stake in a company.
Sometimes they'll put out a tweet saying, we welcome Pershing Square as a shareholder, but they opened the door for us.
In the beginning, we had to bang down the door.
And today, so we get very deeply involved in our companies if it's needed.
Other companies we own, there's nothing for us to do, just be to just clap.
Yeah, but we only want to add value.
The conversation last night was kind of an interesting one.
The best investments are one where you don't need to join the board and do anything.
Well, that may be in a startup, but in a mature business, it may be... No, I think in the public company context, one of the valuable things we can do, the problem of being a public company today is kind of the very short-term nature of markets, analysts, et cetera.
And obviously, to run a business, a business is a good one.
It's a forever thing.
You want to make decisions in the context of...
decades sometimes, or certainly three, five years, and how can you do that when someone's asking about the tax rate in the second quarter?
And having a big shareholder on the board, where you can kind of test ideas out with the big shareholder before you expose them to the public, where the big shareholder can say, I'm supportive of this initiative, even though it's gonna hurt earnings in the next few quarters, is a helpful thing.
I mean, yes, effectively, we're an investor.
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?
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