This is the exchanges of Goldman Sachs where we discuss developments currently shaping markets, industries in the global economy. I'm Jake Stewart, global head of corporate

communications here at the firm.

Today we're joined by Steve Strong and one of the firm's senior

advisors and the former head of Goldman Sachs research, to talk about the investing landscape

and all the volatility the past few months.

Steve and his team just put out a new report

called The Great Reset, a framework

for investing after COVID-19, which we'll be diving into today.

Welcome to the program, Steve. Welcome back to the program.

Thank you, Jake. It's a pleasure to be here.

So Steve, one of the core theses of this report is that the new economy post-Covid

should look very different than the economy that we saw coming into the crisis and that capitalism in all its glory will lead the way by

reallocating capital. Why do you view and it's not everyone's view why do you view

COVID-19 as a real rule-changing event for investing?

Well, there's a couple of things.

First, we're going to see a fair number of business failures.

A lot of teetering business bottles will fall, and that will reshape the landscape.

People have also learned an incredible amount of things in this process that they will put to work

afterwards.

We refer to it, we'll talk about this later as sticky learning learning but we've all learned how to use

Zoom we've all learned how to use telemedicine we've all learned actually a lot of people

learn how to cook better than they used to be able to cook. All of those things are going to reshape forward choices. The other thing is a lot of business

...