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BlackRock's Rob Goldstein on the Next Megatrends in Finance

4/30/202656 min

The last few decades have been marked by a number of megatrends in finance including the extraordinary growth of asset managers, the rising importance of technology, and the ascent of private markets. BlackRock, the world's biggest asset manager, is emblematic of all these developments. On this episode, we talk to BlackRock COO Rob Goldstein about the company's early technological history, the development of its famous risk management technology Aladdin, and how BlackRock is navigating being both a user and major provider of AI. We discuss his view of the 'SaaSpocalypse,' how BlackRock is thinking about token consumption and compute constraint, as well as the future of private markets.

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Clips

Showing 10 of 13
Does AI Require Deep Pockets?
Meeting-To-Prototype In Days
BlackRock’s First-Draft Rule
SaaSpocalypse And Aladdin’s Moat
Tolerance For Machine Mistakes
Convenience SaaS Is In Trouble
The Hidden Power Of Agents
Where Edge Comes From Now
From Closed Box To Open Aladdin
Unconstrained Compute Will Bankrupt You

Transcript preview

First 90 seconds

  1. Speaker 00:00

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  2. Joe Weisenthal· Host0:28

    [upbeat music] Bloomberg Audio Studios. Podcasts, radio, news.

  3. Tracy Alloway· Host0:37

    [upbeat music] Hello, and welcome to another episode of the Odd Lots podcast. I'm Tracy Alloway.

  4. Joe Weisenthal· Host0:51

    And I'm Joe Weisenthal.

  5. Tracy Alloway· Host0:53

    Joe, when I think about the world of finance- Yeah ... and what I would describe as mega trends- Yeah ... of recent years and decades, there are definitely two that spring to mind, maybe a third trend, although I don't know if it's mega. It probably is. The first is definitely the rise of the buy side.

  6. Joe Weisenthal· Host1:10

    Okay. Yep. I agree.

  7. Tracy Alloway· Host1:10

    So this idea that, you know, it very much used to be all about the banks, and those were the ones that we kind of obsessed over.

  8. Joe Weisenthal· Host1:15

    Yeah.

  9. Tracy Alloway· Host1:15

    And then you have this extraordinary growth in the asset management industry. The second mega trend has to be technology, right?

  10. Joe Weisenthal· Host1:23

    Yep.

  11. Tracy Alloway· Host1:23

    Think about the rise of electronic trading, electronic risk management- Yeah ... model-driven risk management.

  12. Joe Weisenthal· Host1:29

    I like

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