In the fast-paced world of institutional investing, the speed of innovation varies across different sectors. However, in the realm of telecommunications, investment strategies are constantly evolving. Whether your focus is on the cutting-edge upstream products like carriers, data centers, and telecom companies, or the dynamic downstream products such as semiconductors and the intricate supply chain that supports them, this industry is always driving forward.
In our latest episode of the Thematic Investors podcast, host, Kieran Cavanna, speaks with Alan Bezoza, Managing Director, Liquid Strategies at DigitalBridge Investment Management. The conversation will touch on the evolution of the telecom sector, cloud wars (both 1.0 and 2.0) and the overall ecosystem, future trends, and a lot more.
Alan covers:
- how his early intellectual curiosity led to a career in telecom investing by blending an inner tech nerd with financial analyst expertise.
- the demand for power, space, and connectivity in the cloud ecosystem and how the shift to AI is driving change in this area.
- how is the industry balancing the power hunger of servers and the data centers that are being built to meet the needs.
- The power requirements for AI and the need to move data centers to areas with cheaper power
- what plans are in place by the likes of Google, Microsoft, and Amazon to enhance AI in Cloud Wars 2.0.
- how the investment narrative in supply and demand change depending on semiconductor analysts vs. data center analysts.
- why many analysts viewed cable as a product that couldn’t scale, and yet DSL ended up being the biggest loser in the telecom battle..
- why are Comcast and Charter floundering, while T-Mobile and Verizon are adding almost a million subscribers per quarter.
- why Denver is such a linchpin for the telecom industry.
- Speculation on the future of telecom, chips, artificial intelligence, and longer-term increments.
- And more!
Connect with Kieran Cavanna:
Connect with Alan Bezoza:
About Alan Bezoza:
Alan Bezoza is a Managing Director of Liquid Strategies at DigitalBridge Investment Management with a focus on public equity securities within the Technology, Media, and Telecom sectors. Mr. Bezoza has spent over 20 years researching and investing in the TMT sector with a particular focus on the global Communications and Media Ecosystem, which includes media, cable, telecoms, mobile towers, data centers, communications technology, data networking, and their respective supply chains.
Prior to joining DigitalBridge in 2020, Mr. Bezoza was a Partner and Sector Head at Dorsal Capital, a market-neutral hedge fund, where he focused on the Media, Telecom, and Communications Technology sectors. Prior to Dorsal, he spent over seven years at Janus Capital, where he was a Senior Analyst and Co-Sector Lead of the Communications investment team that included the Telecom, Media, and Internet sectors. Mr. Bezoza previously worked in equity research as a Senior Vice President at both Oppenheimer and Friedman Billings Ramsey. He has published numerous industry white papers, appearing in print and financial news outlets (CNBC, Bloomberg, WSJ, etc.), and has keynoted industry conferences. In 2005, he was recognized by The Wall Street Journal as a “Best on the Street” analyst for his stock picks in the Broadcasting and Entertainment sector. Mr. Bezoza started his career at Lazard Asset Management, where he worked on the Emerging Markets and International small-cap portfolios.
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