Bill Ackmann's Outlook On The Future

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Bill Ackmann expresses his anticipation towards democratizing access to good investments and being a part of that trend. He believes in the resilience of the United States and capitalism's effectiveness, foreseeing a positive impact from technology, particularly AI, on productivity and well-being. Ackmann praises the potential of technology such as AI in enabling scientific and drug discovery. He highlights the importance of using technology for the collective good. Ackmann also shares his optimism about the success of a startup and expresses confidence in his small but efficient team at Pershing Square. His long-term investment ambition is to match Warren Buffet's record. Additionally, Ackmann is excited about the innovative solutions Neri, a founder is working on for minimizing environmental impact through product design. He predicts positive transformations in the Middle East and envisions a world where Saudi Arabia and other Gulf states take over governance and reconstruction of Gaza, leading to enhanced security. Ackmann also touches upon the potential wake-up call for universities to re-evaluate diversity, equity, and inclusion efforts with a focus on meritocracy rather than political agendas.

Bill Ackman is an investor who has led some of the biggest and controversial financial trades in history. He is founder and CEO of Pershing Square Capital Management. Please support this podcast by checking out our sponsors:
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Transcript: https://lexfridman.com/bill-ackman-transcript

EPISODE LINKS:
Bill’s X: https://twitter.com/BillAckman
Pershing Square Holdings: https://pershingsquareholdings.com/
Pershing Square Foundation: https://pershingsquarefoundation.org
Neri Oxman conversation: https://www.youtube.com/watch?v=XbPHojL_61U
Books mentioned:
The Intelligent Investor: https://amzn.to/3ONnaZy
America’s Cultural Revolution: https://amzn.to/3SDz1dY

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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(08:55) – Investing basics
(13:47) – Investing in music
(22:08) – Process of researching companies
(26:47) – Investing in restaurants
(32:16) – Investing in Google
(37:58) – AI
(43:13) – Warren Buffet
(45:22) – Psychology of investing
(54:53) – Activist investing
(1:04:41) – General Growth Properties
(1:20:57) – Canadian Pacific Railway
(1:28:21) – OpenAI
(1:32:32) – Biggest loss and lowest point
(1:47:21) – Herbalife and Carl Icahn
(2:04:11) – Oct 7
(2:10:42) – College campus protests
(2:29:09) – DEI in universities
(2:50:00) – Neri Oxman
(3:15:30) – X and free speech
(3:19:54) – Trump
(3:27:30) – Dean Phillips
(3:34:36) – Future