BG2Pod with Brad Gerstner and Bill Gurley Ep11. Coatue Conference Recap, Tesla & ISS Controversy | BG2 with Bill Gurley & Brad Gerstner
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Jun 22, 2024 The conversation kicks off with insights from the East Meets West conference, emphasizing the fusion of tech cultures. They dive into the AI market's transformation, spotlighting how investor sentiments shift with new advancements. Discussions on venture funding reveal struggles for non-AI unicorns in a tightening landscape. The challenges of going public versus staying private are explored, especially for companies like OpenAI. They also tackle Tesla's shareholder vote and the implications of corporate governance amid advancing AI technology.
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Nvidia's Earnings Multiple
- Nvidia's stock price has increased significantly, but its earnings multiple has remained flat.
- This is due to substantial earnings growth, suggesting that there may not be an AI bubble.
Justifying AI Investment
- Philippe Laffont estimates $1.8 trillion is needed to yield a 25% return on AI investment.
- Satya Nadella suggests a 1-2% GDP increase to 3-4% would justify the investment.
Prepare for AI Winter
- Prepare for an "AI winter" despite current optimism.
- Ensure financial resilience to survive potential market downturns.