Former SEC Chairman Gary Gensler says AI leaders and hyperscalers need to generate meaningful revenue and productivity gains to meet current market conditions. Speaking to Tom Keene and Paul Sweeney on Bloomberg Radio, Gensler also warned that as investors consider selling shares in highly-valued IPOs like SpaceX, it could create a broader downward effect on the market as a whole.<br>See omnystudio.com/listener for privacy information.

Former SEC Chair Gary Gensler Talks AI Hype, IPO Outlook

Bloomberg Talks

# Full Transcript

**Podcast:** Bloomberg Talks

## Participants

- **Tom Keene** (None)
- **Paul Sweeney** (None)
- **Gary Gensler** (MIT, Former SEC Chair)

## Transcript

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[SPEAKER_00] We now commence a three-hour interview. Gary Gensler joins us now. He's the former chairman of the Securities Exchange Commission. A modest tenure of duty at Goldman Sachs as well. And critically, long ago and far away, writing legislation, Sarbanes-Oxley is well, well, well over 20 years ago. Gary, I've been dying to talk to you. I read all the wonderful comments on this life of Alann Greenspan.

[SPEAKER_00] And I get the criticism about interest rate dynamics in 2005, 2006 and that. But I'm going to go to a guy that you have a nodding acquaintance with, one S. Johnson up at MIT. I've quoted this many times, folks.

[SPEAKER_00] Gary Gensler, we can criticize Chairman Greenspan, but he had a lot of help in screwing us up into the financial crisis, didn't he?

[SPEAKER_02] Well, there is a broad miss. I don't know how else to say it. Policymakers across the spectrum and the American public paid the price. And we exported, by the way, that crisis around the globe. But in terms of Alan himself, I worked with him closely in the late 1990s.

[SPEAKER_02] Actually met Alan in the 1980s at a wonderful dinner at Larry and Billy Tish's house in the mid-1980s. And Alan was a dedicated economist, a dedicated public servant. And look, Tom, none of us get everything right.

[SPEAKER_02] And yes, in those key years going into that OA crisis, there was too much leverage being built up in the housing market, too much leverage being built up in the financial markets.

[SPEAKER_00] One final question on Chairman Greenspan, just as Paul and I feel the news flow right now, Gary Gensler is just so important. He was, in my estimate, a market economist. I love what Greg Ip said, more accountant than theorist. Do we need more central bankers steeped in trucking data in Nebraska? I mean, do we need more of a tinge of Alan Greenspan in our future economist types?

[SPEAKER_02] Well, I'll tell you the other thing about Alan having worked closely with him for three or four years, maybe not as closely as others. He also was really steeped in the financial m...

Former SEC Chair Gary Gensler Talks AI Hype, IPO Outlook

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Former SEC Chair Gary Gensler Talks AI Hype, IPO Outlook

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.