Apollo’s Torsten Sløk: There’s no evidence AI is lifting margins outside tech | Sozzi Unleashed
Torsten Sløk, partner and chief economist at Apollo Global Management, tells Brian Sozzi the AI payoff has not reached the rest of the market: “We gotta see higher profit margins outside the tech sector. We gotta see higher EBITDA outside the tech sector and that’s just not happening yet.”
He also explains why new US business formation is at the highest level ever recorded, why he still expects AI to be a “miracle drug” for productivity and employment, and why drawn-down oil inventories are the risk nobody is pricing.
Disclosure: Yahoo is a portfolio company of funds managed by affiliates of Apollo Global Management.
Timestamps
0:00 Where the productivity potential actually shows up
0:20 No evidence of margin expansion outside tech
1:09 Does Muse mean you stop hiring
1:27 Why the labor answer is not simple
2:20 New business formation at the highest level ever
2:38 When layoffs would start to show
3:40 Is AI inflationary
4:44 The case for AI as a “miracle drug”
4:50 How bad affordability has become
5:18 Education, healthcare, housing, energy
6:00 Housing with a seven percent mortgage
7:09 The one surprise left in the economy this year
7:15 Why oil inventories are the risk nobody is pricing
#AI #Economy #TorstenSlok #SozziUnleashed #YahooFinance
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