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 (drive.google.com/file/d/1Srl8Y4pBoKtNVYZBxmfj2…)

Produced by Benny Beausoleil
Music by Yung Spielberg

Available on Apple, Spotify, bg2pod.com

Follow:
Brad Gerstner @altcap x.com/altcap
Bill Gurley @bgurley x.com/bgurley
BG2 Pod @bg2pod x.com/BG2Pod