Squawk on the Street SOTS 2nd Hour: Goldman Sachs Vice Chair, Orlando Bravo Talks Tech, & Movers To Know 10/7/25
Oct 7, 2025
Robert Kaplan, former Dallas Fed president and Goldman Sachs vice chair, shares insights on inflation and labor market dynamics, amid a government shutdown. He discusses the cautious stance on Fed rate cuts and the rise of gold amidst fiscal concerns. Joining him, Orlando Bravo, co-founder of Thoma Bravo, argues that AI is driving substantial growth, distinguishing it from a bubble. He explores AI's transformative effects on software and warns of potential job displacement in call centers, all while advocating for savvy investment choices in the private market.
AI Snips
Chapters
Transcript
Episode notes
Don't Preprice Aggressive Fed Cuts
- Avoid assuming the Fed will cut aggressively while inflation remains above target.
- Wait for sustained labor-market weakness before pricing in additional rate cuts.
AI Is Tailwind But Valuations Are Frothy
- Orlando Bravo sees AI as a major tailwind for enterprise software and private equity.
- He says valuations are frothy and some AI valuations resemble a bubble.
Dot‑Com Lessons Shaped Bravo's Strategy
- Orlando recalled learning to buy cheap and operate through the dot‑com bust era.
- That experience shaped his firm's discipline during today's AI-driven market.