Bill Ackman: Concentrated Investing, Permanent Capital, and the Value of Being Challenged

This week’s Friday Wrap-Up looks back at Nicolai Tangen’s podcast conversation with Eric Schmidt, former CEO of Google and one of the most influential voices on AI. Marthe Skaar and Nicolai discuss how investors should think about a business model where a new AI model takes about six months to build and may be out of date within months. They also cover why Nicolai believes over-regulating AI could hold Europe back, and why companies need to change their culture much faster than before. They also look at the gender gap in AI use at the fund, and Nicolai also shares how he prepares for his podcast conversations. Finally, he gives a preview of his upcoming guests in New York. Tune in and find out!

Eric Schmidt has watched the technology industry reinvent itself again and again, and he is convinced this wave is the biggest yet. The former CEO of Google, today one of the leading voices on AI, joins Nicolai Tangen for a conversation about agents, superintelligence and power. Where does this leave large companies? What happens to Europe? And what is Schmidt most worried about? Schmidt also speaks about failure, the myth of the founder, and why he can never switch off. Tune in! In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New episodes every Wednesday, and don't miss our weekly wrap-up on Friday’s. The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen and Håkon Klemsdal. Background research was conducted by Isabelle Karlsson and Marius Dale.

This week’s Friday Wrap-Up looks at Nicolai Tangen’s podcast conversation with Spencer Rascoff, CEO of Match Group, the company behind dating apps like Tinder and Hinge. With Marthe Skaar in Oslo and Nicolai in London, they discuss how online dating has changed the way people meet, the algorithm Rascoff compares to a deck of cards, and his advice for a better dating profile. They also look at why NBIM holds regular portfolio manager debriefs, and why sticking to a consistent methodology matters. Nicolai also shares what is on his agenda for the weekend. Tune in! Listen to In Good Company with Spencer Rascoff, CEO of Match Group: https://podcasts.apple.com/no/podcast/john-armitage-how-he-invests-building-egerton-and/id1614211565?i=1000793578407

What actually makes two strangers match? Nicolai Tangen is joined by Spencer Rascoff, CEO of Match Group, the company behind Tinder, Hinge and a dozen other dating apps, for a conversation about how modern romance really works. They get into the algorithm doing the matchmaking, what separates a profile that works from one that doesn't, what Gen Z has changed about dating, and why loneliness has become such a big part of the story. Along the way, he shares what he's learned about building companies, and why Norway caught his attention. Tune in, this one's good fun! In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New episodes every Wednesday, and don't miss our weekly wrap-up on Friday’s. The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen and Håkon Klemsdal. Background research was conducted by Une Solheim.

This week's Friday Wrap-Up looks back at Nicolai Tangen's podcast conversation with John Armitage, his former boss and a man he calls one of the most important people in his life. Marthe and Nicolai discuss what Armitage taught him about analysing companies, why the best investors tend to be humble, and why Armitage calls permanent capital a trap. They also cover NBIM's recent view on the decline of shareholder rights, and why Nicolai says it matters for long-term investors like NBIM. Nicolai also opens up about why he thinks we should all say thank you more often, and the morning ritual he follows to stay grateful. Tune in!