Coatue’s Laffont Brothers. AI, Public & VC Mkts, Macro, US Debt, Crypto, IPO's, & more | BG2
Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, they welcome Coatue’s Thomas and Philippe Laffont to discuss the AI Super cycle, Stablecoin and crypto, consumer AI, NVIDIA GPU’s, Macroeconomics, publc markets, VC markets, M&A’s, insights for founders and CEO’s, and more. Enjoy another episode of BG2!
Timestamps:
(00:00) Intro
(02:36) The AI Super Cycle
(07:47) Stablecoin & Cryptocurrency
(16:19) Consumer AI & Impact on $GOOG
(22:54) GPU Allocation v Cloud Revenue Market Share
(28:56) AI Impact on Macro + Debt
(35:20) Private Markets, IPO’s, M&A’s
(45:59) Golden Age of Margin Expansion
(51:48) Jevon’s Paradox
(53:19) Insights for Founders and CEOs
Show Notes:
Coatue EMW 2025 Slides
Produced by Benny Beausoleil
Music by Yung Spielberg
Available on Apple, Spotify, www.bg2pod.com
Follow:
Brad Gerstner @altcap https://x.com/altcap
Bill Gurley @bgurley https://x.com/bgurley
BG2 Pod @bg2pod https://x.com/BG2Pod
Fed Hesitates on Tariffs, The New Mag 7, Death of VC, Google's Value in a Post-Search World
(0:00) The Besties intro Philippe Laffont!
(2:12) Miami F1 Recap!
(12:10) Fed holds rates steady on tariff uncertainty
(32:47) Google drops after Apple sees fall in search queries on Safari
(56:48) Creating a new Mag 7
(1:07:00) Private markets: Is traditional VC dead? Philippe details Coatue's new fund structure and what makes a great investor
Follow Philippe Laffont:
https://x.com/plaffont
Follow the besties:
https://x.com/chamath
https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
Follow on X:
https://x.com/theallinpod
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Intro Music Credit:
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect
Referenced in the show:
https://polymarket.com/event/fed-decision-in-june/fed-decreases-interest-rates-by-50-bps-after-june-2025-meeting?tid=1746821096114
https://www.federalreserve.gov/newsevents/pressreleases/monetary20250507a.htm
https://www.mlex.com/mlex/antitrust/articles/2337168/apple-exec-testimony-on-search-volume-drop-hurts-google-stock-price
https://www.bloomberg.com/news/articles/2025-05-07/apple-working-to-move-to-ai-search-in-browser-amid-google-fallout
https://blog.google/products/search/statement-press-reports-about-search-traffic
https://x.com/EconomyApp/status/1915501252420784499
https://x.com/Similarweb/status/1920026287625658628
https://openai.com/index/leadership-expansion-with-fidji-simo
https://files.pitchbook.com/website/files/pdf/Q1_2025_PitchBook-NVCA_Venture_Monitor_19001.pdf
https://stockanalysis.com/ipos/statistics
Ep11. Coatue Conference Recap, Tesla & ISS Controversy | BG2 with Bill Gurley & Brad Gerstner
Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week they recap Coatue Conference and discuss Elon’s pay package, Tesla's shareholder vote, ISS controversy, AI market trends, OpenAI IPO, Delaware court case, and more. Enjoy another episode of BG2.
Timestamps:
(00:00) Overview of Coatue’s East Meets West Conference
(5:05) AI and Market Trends
(18:17) Insights on Venture Markets and IPOs
(24:15) Challenges and Opportunities in Going Public
(30:05) The Case for OpenAI Going Public
(33:03) Challenges and Considerations for IPOs
(35:55) SPECIAL GUEST: Coatue Founder Phillipe Laffont
(39:27) AI Startups Staying Lean
(42:31) AI Agents and the Future of Work
(45:28) Tesla's Shareholder Vote and ISS Controversy
(50:57) Delaware's Legal Precedent and Corporate Implications
(58:27) Globalization and Competitive Advantage
Available on Apple, Spotify, www.bg2pod.com
Follow:
Brad Gerstner @altcap
Bill Gurley @bgurley
BG2 Pod @bg2pod