Henry Blodget on the Software Selloff Hysteria and the Problem for OpenAI
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What is the main topic discussed in this episode?
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Hello, hello, hello. Welcome to On Air Fest 2026. Thank you so much. I'm Kristen Meinzer. I'm your MC for the day. And in case you don't know who I am, I'm a podcaster, I'm a Royal Watcher, I'm a culture critic. I've been very busy over the last week with some royal news you may have heard of. So you may know me from those things. But today is not about me, it is about the fantastic talent that is going to be on this stage and at this festival. Let's get to our first live taping of the day. Bloomberg's Odd Lots Podcast. The hosts of Oddlots are Joe Weisenthal and Tracy Alloway. Please welcome them to the stage, along with their very special guest, Henry Blodgett. Thank you so much. Welcome to the stage.
Thank you so much. And uh hello and welcome to a live episode of the Oddlots Podcast. I'm Joe Weisenthal.
And I'm Tracy Alloway.
Tracy, we're definitely not going to do this, but it definitely feels like almost every episode could be about AI these days, right? Like it's just touching so all the things we talk about are so really getting subsumed into this topic that we're not gonna do it, but we probably could.
It's not just that every episode could be on AI, it's that every episode could probably be made by AI at this point, right? And in fact, we've had a few people last year. I remember there were a few people who made AI generated episodes of the podcast, and they weren't that bad. And I have to think if they did it today, they would be even better.
It would definitely be better. Anyway, not better than us. But they would be better than the worrier. I'm not so sure. They'd be better than they were a year ago. Anyway, so we have to talk about AI and what it's doing to the market, finance, economics, etc. And of course, we have to talk about what it means for us in the media industry. And I'm very excited to say we do have the perfect guest. We're gonna be speaking here with Henry Blodgett, the uh CEO of Regenerator. He used to be my boss when I was at uh Business Insider, someone who has a background in in both media and of course uh Wall Street and finance, so the perfect person to talk about all the different dimensions here.
Truly the perfect guest.
All right, Henry, thank you so much for coming back on Odlots. Thank you for having me. So Uh the last time we talked to you was in May of last year, and the theme then was everyone was talking about Here are these huge valuations for AI companies. How could they possibly be justified? And that was an interesting conversation. And it feels like the narrative has now flipped 180 degrees where it's like, these companies are so powerful, they're gonna destroy every other company in their wake. And every software company, a payments provider, et cetera, has been like plunging really since the start of the year. How have you like updated your views? Where are you now versus where you were in Saint May?
We are early in the development of the industry. This looks a lot like the internet in the nineteen nineties. For those of you who remember Basically, when you have a huge opportunity like this, early on, you can have a huge range of reasonable predictions about what is going to happen.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–4:17
2
What was the original AI valuation bubble discussion from a year ago?
4:17–12:52
3
How have Henry Blodget’s views on AI‑driven software sell‑offs changed since May 2024?
12:52–17:04
4
Why does Henry argue that the “software doom” scenario is overhyped?
17:04–20:28
5
What evidence does he give that software companies are not going to disappear?
20:28–45:50
6
How does Henry compare OpenAI’s network effects to Google’s historic dominance?
45:50–47:35
Speakers
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