00:00Let's not take our eye off the ball with respect to where there are opportunities because I think
00:04one of the things that we feel always happens where you have a significant jolt to the market
00:11like this is it always creates opportunity and we can talk about that some more. What does that
00:16opportunity look like? Well opportunity in the context of valuations are going through a
00:21substantial reset. We fundamentally believe that they're going to be really good companies that
00:26are misvalued as a result of this. So that's one obvious opportunity. Another opportunity that
00:32we're in the midst of right now as a result of since AI obviously is a very important focus of
00:37what's going on now is that for some period of time now based upon how we invest, what our sector
00:45expertise is, we've been very focused on how do we accelerate the growth of our companies as a result
00:52of AI. And I think one of the things that we've done at the firm is we I asked one
00:58of our senior
00:58people to to to really lead an AI task force which got put in place at the end of last
01:04year. And one of
01:06the one of the functions of that task force is really to to develop discipline on best practices
01:13throughout our various private equity strategies on how do we use AI to be an accelerant of growth within
01:21our portfolio. How do you figure that out? Because it is brand new. It's not like this is a field
01:25that
01:25people have been studying for decades and you can bring in someone with gray hair who's been doing
01:29it forever. Well how do you crack that nut when it's just a new territory? Yeah well first of all
01:34I think
01:35even though AI it feels relatively new in terms of the phenomena of open AI or or you know a
01:43number of
01:43these big companies that have now you know developed these these powerful models we've we've been
01:49investing in the earlier stages of AI at TPG for a while. So it's not like this is absolutely new
01:57to
01:57us. I mean we've seen this coming for quite a while that there are going to be smarter models there's
02:02going to be improvements in technology and as a result of that we have invested behind some of these
02:08themes now for a while in terms of what we're doing in our portfolio and so um so so we're
02:16we're we're
02:17engaged throughout our um our portfolio in how do we effectively implement the utilization of this
02:27technology um to um find ways of of generating growth and um and and and and really building on um
02:37the the underlying thesis of what we had when we originally made these investments so
02:42there's there's um there's quite a bit to do with respect to improving the capabilities of many of our
02:50companies
Comments