Illiquid Insights

Success in finance is all about relationships and sourcing going forward. AI has made execution skills (powerpoint, modeling) irrelevant.

A big pivot from Ken Griffin on AI: “Number one is, in the last few months, there has been a step change in the productivity of the AI toolkit. It is profoundly more powerful than it was just nine months ago. And for us at Citadel, that has allowed us to unleash a much broader array of use cases for AI. And it has been really interesting to watch, to be blunt, work that we would usually do with people with masters and PhDs in finance over the course of weeks or months being done by AI agents over the course of hours or days. These are not these are not mid-tier white collar jobs. These are like extraordinarily high skilled jobs being, I'm going to pick a word, automated by agentic AI. And I gotta tell you, I went home one Friday actually fairly depressed by this because you could just see how this was going to have such a dramatic impact on society. When you witness it in your own four walls, when you see work that used to be man years of work being done in days or weeks, it's like, wow, like that's the first time I've seen real impact in our four walls.” This echoes my own experience with agents and the conversations I am having with students, friends & clients. The toolkit has dramatically transformed and it feels like in finance, for the first time, AI is real.

$CHTR $T Two gentlemen from $T just knocked on my door. Matched my $30 a month Spectrum broadband cable service with 1G symmetrical fiber package, and gave me 2 months of free service. Also offered to lower the price even further if I move my mobile service provider to $T. That's a good deal. I ask myself - if Charter were to knock on my door, what kind of package would make me switch to cable...At the end of the day, Charter is competing like a red-headed stepchild with its coax and MVNO mobile package.