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TechCheck

IPOs, EXITS & AI SPEND 10/18/23

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.566 Ratings

🗓️ 18 October 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

Deirdre is in the field at the Goldman Sachs Builders & Innovators Summit, where she sits down with Kim Posnett, Goldman’s Global Head of Technology, Media and Telecommunications (TMT) Group within Global Banking & Markets – where she works on some of the biggest tech deals, M&A and IPOs. Plus an interview with Dropbox CEO Drew Houston about his outlook for AI spending.

Transcript

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0:00.0

Peck Check is in the field today. We talked to Goldman's head of TMT banking about the IPO market and the CEO of Dropbox about the outlook for AI spending.

0:10.0

It is Wednesday, October 18th. I'm Mark Gilbert, the EP of Tech Check.

0:14.4

D is in Napa today with those interviews.

0:17.2

Have a listen.

0:18.2

I'm here with Kim Posnet.

0:22.2

She is Goldman Sachs Global Head of TMT. We're about an hour

0:26.1

and a half north of San Francisco. This is Goldman's annual builders and innovators summit.

0:31.4

So lots of entrepreneurs here, I think you said about a

0:34.0

hundred. What is the sentiment on the ground so far? It's been a more

0:37.6

challenging year compared to years past between higher interest rates, a tougher

0:41.5

funding environment.

0:42.6

What are you hearing from the entrepreneurs here?

0:44.2

Deirdre, thank you for having me.

0:46.2

Yes, we're here at our Builders and Innovators Summit in California.

0:49.7

This is our 12th year hosting it.

0:52.3

It's an annual event to honor and celebrate the most

0:55.4

exceptional entrepreneurs in the world and this year we have an unbelievable

1:02.2

lineup of people we have an unbelievable lineup of people. We have seasoned entrepreneurs. We have business leaders thought leaders and we come together for this two-day summit where we talk about

1:11.1

How to build businesses that impact the world.

1:13.6

The major themes this year, as you'd expect, are AI, geopolitics, and it's a great way to be

1:21.5

at the center of entrepreneurship, innovation, the creator economy, and I've been here for 12 of the 12 years, we've done this.

1:28.0

And each year I am struck with the unbelievable talent and drive and determination of the

...

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