BG2Pod with Brad Gerstner and Bill Gurley Coatue’s Laffont Brothers. AI, Public & VC Mkts, Macro, US Debt, Crypto, IPO's, & more | BG2
800 snips
Jun 20, 2025 
Philippe and Thomas Laffont, co-founders of Coatue Management, explore the cutting-edge of technology investing. They dive into the AI super cycle and its potential to transform markets, consumer behavior, and macroeconomics. The brothers discuss the evolving landscape of cryptocurrency, highlighting stablecoin legislation and institutional strategies. They also analyze the state of IPOs, M&A activity, and the implications of AI on workforce dynamics, providing crucial insights for founders and CEOs navigating today’s fast-paced tech environment.
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AI as a Super Cycle
- AI is a defining tech trend building on past innovations like the PC and internet waves.
- These tech trends become bigger as they layer on previous infrastructure and capabilities.
Bitcoin's Emerging Institutional Appeal
- Bitcoin's market cap is tiny compared to global wealth but might grow several multiples.
- Institutional hesitation contrasts with retail ownership, suggesting a need for reevaluation of crypto's legitimacy.
Risk Aversion: Public vs Private
- Public market investors have low appetite for high-volatility assets like crypto.
- Private investors tolerate risk better due to longer horizons and less mark-to-market pressure.