Dani Burger

with some other business leaders with the Trump administration looking at solutions for affordability.

Did you get a word in on who your pick would be for Fed chair?

You said who you, perhaps the characteristics of who you don't want it to be.

Who would make sense for you?

for this job?

And someone not from the White House, ideally, is what you're saying.

So, Ken, if reducing rates is one thing that's excited risk markets, we'd be remiss if we didn't talk about the other thing that's been talked about all day today, and that is in AI.

In 2023, you said that there was a lot of hype, maybe too much hype in AI.

In the past two and a half years, we have seen advancements, better jobs at producing images, better voice recognition, and a whole slew of businesses.

At least they say that they're adopting AI.

Have you reassessed in the past two and a half years, or do you still think there's too much hype?

if you are one of these players then that exists in this ecosystem where hyperscalers have spent $230 billion just in 2025 with projections to go somewhere near 3 trillion over the next decade, that just seems a little bit worrying, Ken, that people aren't finding uses for AI, that they're instead just finding uses for other technology and maybe wrapping it in an AI bow.

But Anne, it feels like there's this really tension between the promise of AI being priced into markets, a spending like the promise of AI is coming, and the actual reality.

Does that end with pain for someone, the people who have been overspending, the folks and firms that have been investing in this?

We've seen a lot of that, though, of companies saying they're laying off people and have specifically cited AI.

Are you saying that's more of an excuse at this stage, then?

There have been plenty of surveys that younger people coming out of college feel a lot of anxiety, and maybe it's because the headlines that are driven by executives saying this.

Ken, what advice would you give to someone who's newly graduating and considering pursuing a field in finance somewhere?

Do they need to drastically rethink of what they study, how they enter the field, and what their jobs exactly will be because of changes in technology or because of the state of the labor market?

Can we talk about a young Ken, entrepreneurial Ken, in college, coming out of college?