This week on Prof G Markets, Ed Elson and Scott Galloway are joined by David Solomon, Goldman Sachs’ chairman of the Board of Directors and chief executive officer, to discuss the path ahead for the firm and the broader economy. He also weighs in on deficit spending, the impact of AI on human capital, and whether deglobalization poses a meaningful risk to the economy.
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Timestamps:
00:00 - Today’s number
00:20 - Today’s episode
05:05 - Interview with David Solomon
05:32 - As you look back on 2025, what went right, what went wrong and what surprised you?
07:53 - What were the concerns about Goldman and how did you come back from that?
10:53 - Which business do you think is poised to show the greatest returns over the next five years?
13:18 - What are your thoughts on human capital as it relates to AI in these information-intensive businesses?
16:57 - In 36 months, do you think Goldman will have the same, fewer, or more employees?
17:32 - Ad Break
19:54 - What are some of the biggest risks that you’re looking at heading into 2026?
21:58 - What are some of the long-term concerns that you have and is that a different story from the short-term?
25:39 - Were you surprised by the amount of deficit spending in the Big Beautiful Bill?
27:32 - Do you think the U.S. is vulnerable to a foreign nation coordinating and selling our debt?
30:04 - Are the administration risks antagonizing other nations who will then decide not to work with U.S. service firms?
31:40 - What do the Goldman’s chief economists say about this
potential structural shift away from trade with the U.S.?
33:18 - When do we identify that something is a structural change that could not be reversed based on the election cycle?
35:37 - What is the same and different about 1999 with ecommerce and 2026 with AI?
38:21 - Ad Break
40:57 - What does your day-to-day look like and do you ever wake up and think “how did I get here”?
43:59 - What can young people learn about your rise as someone who was originally rejected from the company?
46:39 - What advice would you give to your younger self about being a better friend, partner and father?
48:39 - What would be your advice to a young person who is just starting out right now?
52:14 - Break
52:24 - Conclusion
56:59 - Credits
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