What podcasts say about Ben Inker
Every statement, with the speaker, the exact quote and the moment it was said.
What Ben Inker has said on podcasts
46 statements · 7 positive · 34 negative · 5 neutral
Compute oversupply would cause defaults, bankruptcies, and poor hyperscaler returns.
“Massive defaults on the credit side. We will see companies on the equity side go bust. We will see a problem for the hyperscalers where their return on investment turned out to be lousy.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 0:29
An AI compute oversupply shock could reduce the market 35–50%.
“That is a minus 35 to 50% in the market.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 0:48
Transformational technologies such as AI normally generate speculative bubbles.
“Why do we think AI is a bubble? I'd say kind of at the highest level, it is because it is a transformational technological change. Transformational technological changes normally create bubbles.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 1:58
Most investment in transformational technology eventually earns poor returns.
“most of the money that gets invested doesn't have a great ROI.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 2:42
- on Capital investment in transformational technologiesNegativeOct 14, 2026· Monetary Matters with Jack Farley
Excess capital eventually causes supply to exceed demand.
“eventually, as everybody who participated in the building of that supply seems to be getting rich and more and more people want to be involved, you eventually hit a point where now supply. is bigger than demand.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 3:32
AI compute and model provision are more likely competitive than winner-take-all businesses.
“what we see in both cases is those look more likely to be competitive businesses than winner-take-all businesses.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 4:47
Broad AI adoption requires low prices, which makes high profitability difficult.
“If we are going to get really broad use of artificial intelligence, it needs to be cheap. And the problem with it being cheap is it is hard for something to be cheap and be wonderfully profitable.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 5:55
AI is likely to prove to have been a bubble.
“we think this is likely to... prove to have been a bubble.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 6:08
SpaceX, Anthropic, and OpenAI are expected to become historically large public offerings.
“SpaceX soon to be Anthropic and then soon to be OpenAI coming public as the largest IPOs in history.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 7:54
About $2 trillion of additional SpaceX equity will become available and partly be sold within 12 months.
“over the next 12 months, the other $2 trillion worth of SpaceX becomes available to sell. And a decent chunk of that will be sold.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 8:21
Nearly all SpaceX holders will have selling opportunities over roughly 12 months.
“It is going to be the case that over the 12 months or so, almost everybody who owns it is going to have the opportunity to sell.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 10:31
SpaceX, OpenAI, and Anthropic IPOs could equal 6–7.5% of U.S. market capitalization.
“in aggregate, we are talking about assuming OpenAI and Anthropic do come public, maybe six, seven, seven and a half percent of the aggregate market cap of the U.S. which is a greater increment of market cap via IPO than we have ever seen in a 12-month period.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 10:44
Each percentage point of IPO supply is associated with roughly 4% worse market performance.
“In general, the market does about 4% worse per percent of market cap that comes in in an IPO in a given year.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 11:47
Six percent IPO supply would imply market performance 24% worse than normal.
“if we are seeing 6% coming in, you know, that's 24% worse than normal.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 12:00
AI bubble unwinding would most affect stocks that benefited from AI.
“if AI is a bubble that bursts, it is the stocks that benefited from AI going up.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 13:24
AI beneficiaries face the greatest downside if AI enthusiasm reverses.
“the companies that have benefited from AI are the companies that have the most at risk.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 13:57
Downside from an AI reversal depends substantially on valuation.
“the impact should certainly depend on how expensive you are”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 15:08
AI data-center investment will eventually be excessive and produce large write-offs.
“in the end, we will wind up investing too much in these data centers and there will be giant write-offs.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 18:59
Investing in data centers currently carries substantial risk.
“To be investing in data centers today, I think it's a slightly scary thing to do.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 20:15
Investors should prefer many alternatives to the AI sector currently.
“we think there are lots of better places to be investing today than in the AI space.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 20:26
Investors should not concentrate their portfolio in AI alone.
“you do not want your portfolio to be a bet on a single thing.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 23:45
Passive investing grew from under 10% of the market to approximately half.
“the rise of passive has been huge. It went from under 10% of the market in the 80s to maybe half now.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 24:36
AI-related debt is increasingly constrained by lenders’ need for diversification.
“we are starting to hit the situation where the need for the diversification is biting in AI-related debt.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 32:25
Planned AI investment could create a severe concentration problem in corporate debt.
“if we get all of the investment that is slated to come, this will become a profound problem”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 34:28
AI borrowing is starving non-AI long-duration investments of capital.
“long dated investments that are not directly powering data centers is all being starved.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 36:15
Providing capital to homebuilders can be profitable when housing investment is constrained.
“supplying capital to the companies building houses actually turns out pretty well.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 36:55
Government AI bailouts could destabilize the government bond market.
“I don't know where the money comes from to do this without destabilizing the government bond market”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 38:41
The Federal Reserve could substantially lower capital costs during a severe recession.
“the Federal Reserve, from where rates are now, or at least where rates are going to be in 2027, had plenty of room to lower the cost of capital if the economy comes to a screeching halt.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 40:23
Microsoft is not expected to default on its debt.
“I am not expecting Microsoft is going to have to default on its debt.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 41:19
Public credit markets currently show little evidence of distress.
“right now we don't see a lot of evidence of distress in the public credit markets.”
Open the episode · The AI Bubble Will Pop from Equity Supply Says This $80 Billion Asset Manager | Ben Inker | GMOListen at 42:01
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.