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    Business

    Exchanges

    In each episode of “Exchanges,” people from the firm share their insights on developments shaping industries, markets and the global economy.

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    Copyright: © Copyright 2023 Goldman Sachs, all rights reserved.

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    Latest Episodes:
    How Reliable is Economic Data? Sep 25, 2025
    Show notes

    Are concerns about the quality and reliability of economic data — as well as its vulnerabilities to political influences — warranted? Former BLS Commissioner Erica Groshen, who served from 2013 to 2017, Laffer Associates’ Arthur Laffer, Harvard Business School’s Alberto Cavallo, and Goldman Sachs’ Joseph Briggs discuss data quality, political influence, and the future of economic indicators with Allison Nathan on Goldman Sachs Exchanges. This episode explores the latest Top of Mind report.


    This episode was recorded on August 18, 19, 26, and September 11, 2025.


    The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.

    A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.

    Disclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at http://www.gs.com/research/hedge.html.

    Goldman Sachs does not endorse any candidate or any political party.

    © 2025 Goldman Sachs. All rights reserved.

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    The Healthcare Outlook: Macro Challenges and Biotech Innovations Sep 18, 2025
    Show notes

    While the healthcare sector has lagged behind the broader markets, there are pockets of innovation. Asad Haider, head of the US Healthcare Business Unit in Goldman Sachs Research, and Amit Sinha, head of Life Sciences Investing in Goldman Sachs Asset Management, discuss their outlook for the industry.


    This episode was recorded on September 8 and 15, 2025.


    The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.


    A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.


    Disclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at http://www.gs.com/research/hedge.html.


    Goldman Sachs does not endorse any candidate or any political party.

    © 2025 Goldman Sachs. All rights reserved.

    Learn more about your ad choices. Visit megaphone.fm/adchoices


    The Growth Playbook: Goldman Sachs’ Darren Cohen on Building a Growth Investing Platform Sep 09, 2025
    Show notes

    Goldman Sachs’ Darren Cohen, co-head and chief investment officer of Growth Equity within Goldman Sachs Asset Management, discusses his career trajectory and investment philosophy, and where he sees opportunity today.

    This episode was recorded on August 11, 2025.

    The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.

    A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.

    For additional disclaimers and regulatory disclosures, please visit www.goldmansachs.com/insights/podcasts

    © 2025 Goldman Sachs. All rights reserved.


    Learn more about your ad choices. Visit megaphone.fm/adchoices


    After a Summer of Stablecoins, What’s Next? Sep 02, 2025
    Show notes

    In this episode, Former Acting Comptroller of the Currency Brian Brooks and UC Berkeley’s Barry Eichengreen discuss the outlook for stablecoins — digital currencies pegged to the value of traditional fiat currencies like the US dollar. Moderated by Goldman Sachs Research’s Allison Nathan, the discussion covers the potential implications of a growing stablecoin market existing payment and banking systems, financial markets, and broader financial stability. This episode explores the latest Top of Mind report.

    This episode was recorded on July 14, 18, and August 7.


    The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.


    A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.


    For additional disclaimers and regulatory disclosures, please visit https://www.goldmansachs.com/insights/podcasts.


    Disclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at http://www.gs.com/research/hedge.html.


    © 2025 Goldman Sachs. All rights reserved.

    Learn more about your ad choices. Visit megaphone.fm/adchoices


    Paid to Sweat: Centerbridge's Jeff Aronson on the Growth of Private Markets Aug 19, 2025
    Show notes

    In the latest episode of Goldman Sachs Exchanges: Great Investors, Jeff Aronson, the co-founder and managing principal of Centerbridge Partners, discusses his career and path to building the firm, and the opportunities and challenges facing private investment managers today.


    This episode was recorded on July 16, 2025.

    Learn more about your ad choices. Visit megaphone.fm/adchoices


    Searching for Signals: BlackRock’s Raffaele Savi on the Future of Systematic Investing Aug 12, 2025
    Show notes

    Raffaele Savi, global head of BlackRock Systematic, shares his perspective on the evolution of quantitative investing, the role of AI, and the recent volatility in the market.

    This episode was recorded on July 29, 2025.

    Learn more about your ad choices. Visit megaphone.fm/adchoices


    Finding the Right Problems: How Sutter Hill Ventures’ Mike Speiser Creates Great Companies Aug 07, 2025
    Show notes

    As one of Silicon Valley’s most respected venture capitalists, Mike Speiser, managing director of Sutter Hill Ventures, doesn’t just invest in companies, he often takes a leading role in building them. On the latest episode of Goldman Sachs Exchanges: Great Investors, Speiser discusses his approach to investing with Goldman Sachs’ Ken Hirsch.

    This episode was recorded on July 7, 2025.


    Learn more about your ad choices. Visit megaphone.fm/adchoices


    AI Exchanges: AI’s Impact on Employment Aug 05, 2025
    Show notes

    One of the biggest questions about the rise of AI is how it will impact jobs. Goldman Sachs Research’s Joseph Briggs joins GS Exchanges’ co-hosts Allison Nathan and George Lee to discuss the potential for labor displacement as adoption increases, as well as the industries and roles that could be most affected.

    This episode was recorded on July 31, 2025.


    Learn more about your ad choices. Visit megaphone.fm/adchoices


    Revenge of the Meme Stocks Jul 29, 2025
    Show notes

    Goldman Sachs Research's John Marshall explains the factors behind the recent rally in meme stocks, and what that resurgence means for the broader market.

    This episode was recorded on July 24, 2025.

    Learn more about your ad choices. Visit megaphone.fm/adchoices


    Are Investors Complacent? Jul 22, 2025
    Show notes

    Markets seem to be taking tariffs and landmark changes in global trade policy in stride. Goldman Sachs’ Jan Hatzius and Dom Wilson discuss the impact of tariffs on inflation and growth, and their outlook for the second half of 2025.

    This episode was recorded on July 17, 2025.


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