Coatue’s Laffont Brothers. AI, Public & VC Mkts, Macro, US Debt, Crypto, IPO's, & more | BG2

In a special 10th-anniversary episode recorded at the Co2 East Meets West conference, Brad Gerstner hosts Philippe Laffont and Bill Gurley to dissect a presentation on public and venture markets, with a focus on technology. The discussion begins with an optimistic outlook on the AI "super cycle," estimating its potential to dominate a significant portion of the US market cap, followed by a deep dive into Bitcoin's evolving role as an institutional asset and the impact of stablecoin legislation. The conversation shifts to consumer AI, analyzing ChatGPT's impact on Google's search dominance, and explores the evolving landscape of hyperscalers and GPU allocation among major cloud providers. Macroeconomic factors, including debt-to-GDP ratios and productivity gains driven by AI, are also examined, leading into a discussion about the resurgence of IPOs and M&A activity in the private sector, with a spotlight on Applovin's AI-driven margin expansion. The episode concludes with strategic advice for founders and CEOs based on their company's growth rate and profitability, emphasizing the importance of reinvention and risk-taking in the current market.