Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best Idea and it is a conversation of the
Speaker 2: day for Global Wall Street. Except Gary Gonsler is not
Speaker 2: a conversation of the day. He's a conversation of the month.
Speaker 2: And so here is the former chairman of the SEC
Speaker 2: now at MIT and a wonderful podcast with the Laureate
Speaker 2: Simon Johnson. Gary Gonsler on the topic at hand, private credit.
Speaker 1: Look in terms of private credit, I think that it's
Speaker 1: there's some risks there, but it's a small part of
Speaker 1: our overall capital markets down for US capital markets what
Speaker 1: one hundred and fifty trillion or so, and this is
Speaker 1: a two trillion dollar corner. But there are some risk
Speaker 1: and I'm sure we'll get into it, particularly because they've
Speaker 1: offered to retail investors, high net worth individuals what what's
Speaker 1: called the wealth channel to be part of this, and
Speaker 1: the wealth channel is turning on it. They're saying, we
Speaker 1: don't want to we don't want to be in here
Speaker 1: as much can we redeem out? And that's a little hard.
Speaker 2: Gary gunslu there of m I T. Sloan. We continued
Speaker 2: our conversation. Too many things to talk about, and yes,
Speaker 2: I did, I asked him in jest. Is he letting
Speaker 2: his students in m T use artificial intelligence? Professor Gensler
Speaker 2: on this new thing AI.
Speaker 1: Oh, it's everywhere, Tom. The students are using it. And
Speaker 1: I don't use it to grade students. But I do
Speaker 1: use artificial intelligence to do research, to challenge, to to
Speaker 1: to uh so, so I don't think you can say
Speaker 1: in a classroom, oh oh, we're going to ban it.
Speaker 2: No.
Speaker 1: This is the calculator came along when I was a kid.
Speaker 1: We use it. The Internet came along, we use Here's
Speaker 1: the thing, students, if you're listening, you have to command it.
Speaker 1: You have to challenge it. Don't let AI command you.
Speaker 1: You have to stay ahead of that. I call it
Speaker 1: the AI bear.
Speaker 2: The former Chairman of the Securities and Exchange Commission, Gary Gensler,
Speaker 2: We're on a podcast on Apple, on Spotify, on YouTube podcasts.
Speaker 2: It's single best idea.