Lloyd Blankfein

You know, again, I know you don't want to predict the future, but, you know, we are on the precipice of, I don't know, some of the largest IPOs ever, you know, with SpaceX, with, you know, likely opening iAnthropic, you know, others coming.

I don't know.

Where do you think we are kind of in this cycle?

Or maybe what are risks that you think are underappreciated, you know, kind of in the markets today?

Oh, my gosh.

You know, things will work.

Things will look different.

You know, somebody else in a basement is, you know, is doing OpenAI 7 that nobody else knows about.

Just the same way nobody, you know, all the stuff that's coming out today of things that happen.

I'm reading with interest.

I never knew this stuff.

And nobody else, you know, 10 people knew all that stuff.

And so there's always, you know, there's always upside surprise.

We may be overenthusiastic about the changes.

The reliability function, you know, if it's unreliable and, you know, if you're in a business of horseshoes or throwing hand grenades, you don't have to be precise.

But if you're running a big institution, you can't make mistakes, and numbers really matter.

Maybe you have to run things in parallel for a lot longer.

One of the things that Google gave you was a bibliography.

You could check.

When you go into some of these large language models, you don't know the thought process.