Technological mega-trends are reshaping businesses, markets and entire economies.
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How Companies are Navigating the Energy Transition
From geopolitical tensions, surging gas prices and energy shortages, how are major companies dealing with the energy transition? In this episode of Exchanges at Goldman Sachs, Giulia Chierchia, Executive Vice President of Strategy, Sustainability & Ventures at bp, and Michele Della Vigna, head of Natural Resources Research in EMEA for Goldman Sachs Research, discuss the impact of geopolitical tensions on global energy supplies and how major corporations are navigating the energy transition.
The Green Technology Cycle: SiC
The outlook for increased Silicon Carbide (SiC) uptake as a more efficient alternative to silicon that can save costs and improve performance, especially in automotive applications, has accelerated over the past half year. Goldman Sachs Research analysts now expect an inflection point for rapid market growth potentially two years sooner than projected.
Investing with KKR’s Tara Davies
How is one of the most senior dealmakers in Europe navigating inflationary pressures? In this episode of Exchanges at Goldman Sachs: Great Investors, Tara Davies, partner, global head of Core Infrastructure and co-head of European Infrastructure at KKR, talks with Goldman Sachs’ Alison Mass, chairman of the Investment Banking Division, about the European infrastructure space and the inflation pass-through mechanic in infrastructure assets.
Batteries: The Greenflation Challenge II
In this report, Goldman Sachs Research analysts discuss six key topics about greenflation that are relevant to investors and increase their battery pack price forecasts.
Investing with Altimeter Capital’s Brad Gerstner
What’s it like to lead a tech-focused fund invested in public and private companies in this market? In this episode of Exchanges at Goldman Sachs: Great Investors, Brad Gerstner, founder and CEO of Altimeter Capital, talks with Goldman Sachs’ Katie Koch, chief investment officer of Public Equity in the Asset Management Division, about the tech downturn and the launch of Altimeter at the peak of the financial crisis.
What’s Behind the Tech Sell-Off?
How low can tech go? The sharp sell-off in technology shares is one of the sector’s worst stretches in years. In our latest Exchanges at Goldman Sachs, Brook Dane, portfolio manager in Goldman Sachs Asset Management, and Peter Callahan, a U.S. TMT sector specialist in our Global Markets Division, discuss the drivers and implications of the tech sector’s market rout.
Crypto Volatility: What’s the Outlook for Digital Assets?
As investors pull back from risk assets amid fears of slowing economic growth, what does the future of digital assets and cryptocurrencies hold? In our latest Exchanges at Goldman Sachs, Mathew McDermott, global head of digital assets at Goldman Sachs, looks at how the recent volatility in crypto assets is affecting investor demand for digital assets, which is gaining broader acceptance among institutional investors.
Gene Editing: The Future of Genomic Medicine & Biotech Investing
In this episode of Exchanges at Goldman Sachs, Salveen Richter, Lead Analyst for the U.S. Biotechnology Sector in Goldman Sachs Research, explains how new innovations in gene editing are transforming the future of medicine and the greater biotech investment landscape.
How Long Will the Semiconductor Shortages Last?
The shortage of semiconductor chips is straining global supply chains, causing a drag on the production of an array of products from smartphones to new cars. We spoke to Alexander Duval, a technology analyst in Global Investment Research at Goldman Sachs, after our virtual European Digital Economy Conference to discuss chip production and the impact of the Ukraine-Russia crisis on the sector. He highlighted how a number of European companies at the conference expect tightness in the supply and demand of semis to potentially persist in their particular product areas into early 2023, albeit with some gradual easing in certain types of chips in the second half of this year.
The Next Tech Battleground: Online Gaming & the Metaverse
In this episode of Exchanges at Goldman Sachs, Jung Min, co-COO of Global Technology, Media and Telecom (TMT) and co-head of TMT in Asia Pacific Ex-Japan in Goldman Sachs’ Investment Banking Division, explains the evolution of the gaming industry and why the sector is poised to become the next battleground for big tech.
Batteries: The Greenflation Challenge
Ever-increasing demand, component shortages and rising raw material prices are now challenging the long-standing consensus that battery prices will continue to decline in the coming decade. To assess the impact of this “Greenflation” and potential supply chain bottlenecks ahead, Goldman Sachs Research introduces a proprietary battery pack price and cost curve model, supply-demand models across battery components and a bear case battery TAM scenario.
Electric Vehicles: What's Next VII: Confronting Greenflation
In this report, the seventh installment of our Electric Vehicles: What’s Next series, analysts from Goldman Sachs Research outline their new forecast for a slower pace of decline for automotive battery prices through 2025, and they consider the outlook for the EV and automotive battery markets under three scenarios (bear, base, and hyper-adoption).
How Conflict in Ukraine, Soaring Inflation and Rapid "Techification" Have Disrupted the World in 2022
At the start of the year, Goldman Sachs Asset Management released Investment Ideas 2022, taking a deep dive into the key themes likely to influence investor behavior. But disruptive forces — such as the conflict between Russia and Ukraine — are constantly evolving, presenting new challenges to the global economy. We sat down with Goldman Sachs Asset Management’s Candice Tse, global head of strategic advisory solutions, and Maria Vassalou, deputy chief investment officer of multi-asset solutions, to look at the impact disruption is having and how investors can navigate it.
Understanding the Metaverse and Web 3.0
The “metaverse” has captured the imagination of technology investors, but what is it, and what does it signal for the next era of computing? In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Research's Eric Sheridan examines how the blending of elements of the physical and digital worlds via virtual reality, augmented reality, gaming and immersive online communities is contributing to the rise of a more decentralized Web 3.0.
Framing the Future of Web 3.0: Metaverse Edition
In this report, Goldman Sachs Research examines how the gaming/media landscape has already shown some key elements as to how the Metaverse might evolve and how themes such as decentralized web activity and virtual experiences could become hallmarks of many of the next wave of computing in Web 3.0.
An Evolution in the Cybersecurity Landscape
How has the surge in cyberattacks—and companies’ efforts to counter these efforts—evolved? Matthew Chung, Goldman Sachs' Chief Information Security Officer, Wesley Williams, head of the firm's Security Incident Response team, and Andy Boura, the Chief Information Security Officer for the Consumer Banking Business explain how cybersecurity is adapting to new threats.
The Future of ‘Femtech’
Three leading voices in the “femtech” space—Ann Roberts of Flo Health, Lea von Bidder of Ava and Dr. Peter Kecskemethy of Kheiron Medical—join Goldman Sachs’ Antonia Riera and Allison Nathan to discuss the convergence of technology and healthcare to advance women’s health.
Unicorns and Soonicorns: What’s Driving Significant Growth in European Tech
Clif Marriott, co-head of Goldman Sachs’ Technology, Media and Telecom Group in EMEA, discusses what the growing scale and breadth of European tech companies—along with bolder ambitions from European tech founders to grow their businesses to multi-billion dollar valuations—means for the European tech landscape.
Crypto: A New Asset Class?
Amid the recent volatility in cryptocurrencies, we ask experts whether cryptos can and should be considered an institutional asset class, including Galaxy’s Michael Novogratz, NYU’s Nouriel Roubini, Grayscale’s Michael Sonnenshein, and GS’s own Mathew McDermott. And GS research analysts also weigh in. We then speak to former SEC advisor Alan Cohen, Trail of Bits’ Dan Guido, and Chainalysis’ Michael Gronager to explore the regulatory, technological, and security obstacles to further institutional adoption.
Digital Transformation and the Future of Software
Kash Rangan, lead software analyst for Goldman Sachs Research, talks about how the pandemic has accelerated investment in the software sector and the key opportunities that lie ahead.
Carbonomics: Innovation, Deflation, and Affordable De-carbonization
Net zero is becoming more affordable as technological and financial innovation, supported by policy, are flattening the de-carbonization cost curve. Goldman Sachs Research updates its 2019 Carbonomics cost curve to reflect innovation across c.100 different technologies to de-carbonize power, mobility, buildings, agriculture and industry, and draw three key conclusions.
Green Hydrogen: The Next Transformational Driver of the Utilities Industry
Green hydrogen looks poised to become a once-in-a-generation opportunity: Goldman Sachs Research estimates it could give rise to a €10 trillion addressable market globally by 2050 for the Utilities industry alone.
Edtech Faces the Test
Adam Nordin, head of the Global Education Technology & Services team within Goldman Sachs’ Investment Banking Division, discusses how the surge in demand for online learning is translating into strategic activity across the edtech sector.
How Automated Robots are Supporting the Surge in E-commerce
In this episode of our Venture Capital Horizon series with Heath Terry of Goldman Sachs Research, we dive into the future of e-commerce and the adoption of robotics in everything from manufacturing to packaging and delivery.
The Outlook for Tech Investing
Sung Cho, co-lead of technology investing for Goldman Sachs Asset Management’s US Equity team, discusses how the tech sector is evolving and what that means for investors.
Carbonomics: The Rise of Clean Hydrogen
Clean hydrogen has a major role to play in the path towards net zero carbon, providing de-carbonization solutions in the most challenging parts of the Carbonomics cost curve - including long-haul transport, steel, chemicals, heating and long-term power storage.
Carbonomics: The Green Engine of Economic Recovery
Clean tech has a major role to play in the upcoming economic recovery. Leveraging our Carbonomics cost curve, we estimate that clean tech has the potential to drive US$1-2 tn pa of green infrastructure investments and create 15-20 mn jobs worldwide, through public-private collaboration.
Upending an Industry: How Digital Banking Will Simplify Corporates’ Financial Needs
Hari Moorthy, head of Transaction Banking, talks about how transaction banking is disrupting legacy technologies.
COVID-19’s Impact on the Future of Fintech
The pandemic is accelerating the adoption of financial technology, known as fintech, among consumers, businesses and government entities. Goldman Sachs’ Jeff Gido and Brandon Watkins of the Investment Banking Division shared their insights on the secular trends driving fintech growth and how the shutdown is creating opportunities in the sector.
Accelerated Innovation in the Healthcare Industry
Jenny Chang, portfolio manager for Goldman Sachs Asset Management’s Fundamental Equity team, discusses how the pandemic is driving innovation and increased collaboration across the healthcare industry.
The Evolution of Europe’s Tech Landscape
Clif Marriott, co-head of Goldman Sachs’ Technology, Media and Telecom Group in EMEA, discusses the evolution of Europe’s tech industry and how the crisis is accelerating trends across the sector, including growth in e-commerce and collaboration software as well as the digitization of content.
Clinical Trials Go Digital
What if there was a way to make clinical trials faster, cheaper and more successful? Robert P. Jones of Goldman Sachs Research explains how broader adoption of technologies like artificial intelligence and cloud computing could transform clinical trials and drive a significant reduction in drug development costs. Watch Video
The Future of Fitness
The way people exercise is changing. The all-purpose gym now has to compete with yoga and Pilates boutiques as well as in-home equipment and on-demand digital platforms. Stephen Feldgoise of the Investment Banking Division talks about the rise of investment activity in the industry and what lies ahead for exercise’s continuing evolution. Watch Video
Chipmaking’s Big Step Forward
Extreme ultraviolet lithography is poised to help power the next generation of technologies and impact the $50bn global semiconductor equipment market. Goldman Sachs Research explains how this technology will allow the production of more powerful chips at lower cost. Watch Video
How are “Carbonomics” Reshaping the Energy Industry?
Goldman Sachs’ Michele Della Vigna explains his latest research on the future of energy in the age of climate change.
5G: The Future Unplugged
5G is about to go mainstream. Discover how its speed and reach will shape our future.
Carbonomics: The Future of Energy in the Age of Climate Change
Climate change is re-shaping the energy industry through technological innovation and capital markets’ pressure.
A Historic Year for Healthcare Tech
2019 is set to be a record year for healthcare technology. Goldman Sachs Investment Banking Division explains the rise in activity in this episode of The Long & Short of It. Watch Video
The Power Shift: Europe’s Road to Renewables
Green energy is making up a growing portion of the global energy mix, and Europe is leading the way. Goldman Sachs Research explains how technological advances have slashed the costs of wind and solar power, helping fuel the region’s renewables boom.
The Car Industry Shifts Gears
Autonomous driving is upending the auto industry as both traditional carmakers and new tech companies compete for the future of mobility. Axel Hoefer of Goldman Sachs Investment Banking Division explains how the development of this new technology is impacting deal making. Watch Video
Body Measurement Technology
As more consumers buy their clothes online, body measurement technology is emerging to allow shoppers to accurately measure their body dimensions for a more precise fit. Goldman Sachs Research explains how this technology could help retailers lower return rates and costs. Watch Video
Ride Hailing, Electric Scooters, Even Flying Cars – What’s Next for the Mobility Market?
Heath Terry of Goldman Sachs Research explains how ride-hailing and new businesses are poised to fuel a $7 trillion global mobility market. Listen Now
The Future of Mobility
Nonfinancial corporate debt has risen to an all-time high as a share of US GDP. How much of a threat does this pose to creditors and the sustainability of the expansion? Goldman Sachs Research sees several reasons to not be too concerned. Read Report
The Accelerating Adoption of Hybrid Vehicles
Once lofty expectations for an electric-car future may have been temporarily scaled back, but the adoption of hybrid vehicles is continuing to accelerate. We sat down with Goldman Sachs Research’s Kota Yuzawa who explained why companies are investing in their hybrid technologies before EVs take off in earnest. Learn More
Nandan Nilekani, Co-Founder of Infosys
Infosys co-founder Nandan Nilekani discusses his experiences leading India’s second-largest IT services firm and his efforts to enhance financial inclusion through payment digitization and India’s unique biometric-based identity platform. Watch Video
Dan Rosensweig, President and CEO of Chegg
President and CEO of Chegg Dan Rosensweig discusses the debate over digital learning and his vision to make education less expensive, more accessible and more relevant to the demands of the 21st century economy. Watch Video
Rob Manfred, Commissioner of Major League Baseball
Major League Baseball Commissioner Robert Manfred discusses his efforts to bring new energy and enthusiasm to baseball among fans and the next generation of players, and the ways in which technology and data analytics are helping to modernize the sport. Watch Video
Hugh Herr, Co-Director of MIT Center for Extreme Bionics
In this episode, filmed at the Builders + Innovators Summit in Asia, MIT Media Lab professor Hugh Herr, who lost his legs in a climbing accident, discusses how technological innovations have altered the future for people with physical disabilities. Watch Video
Disruptive Technology Symposium 2019: What's the Next Big Tech Trend?
From AI to mobility, we asked leading figures at the Goldman Sachs Disruptive Technology Symposium in London what they see as the next big technology trend of the future. Watch Video
What Happens When...a Goldman Sachs Research Analyst Explores the Latest in Robotic Technology?
Goldman Sachs Research analyst Isaac Ro visited one of the world's largest robotic surgery training facilities to check out the technology firsthand. This latest episode of our video series What Happens When documents the experience, when Ro performs surgery...on a grape. Watch Video
Anya Hindmarch, Fashion Designer
Fashion designer Anya Hindmarch discusses the innovation driving her fashion business, the storytelling in her designs and how technology continues to change the way she markets her products to the consumer. Watch Video
Music in the Air: Streaming Turns Up the Beat for the Music Industry
Goldman Sachs Research predicts that the growing popularity of music streaming platforms will propel global music revenue to record highs. View Infographic
5G: Moving from the lab to the launchpad
Goldman Sachs Research expects 2019 to be the first year that 5G technology sees material deployment with a focus on fixed wireless broadband in the home. Following this, GS Research expects 5G cellular rollouts for smartphones usage to accelerate in 2020 to accompany the availability of mass market handsets. Read Report
Drew Houston, Dropbox and the Evolution of a Tech Entrepreneur
In this episode, filmed at Goldman Sachs’ Builders + Innovators Summit, Dropbox co-founder and CEO Drew Houston discusses what he has learned as he continues to grow the cloud computing company into one of the biggest disruptors in Silicon Valley. Watch Video
Peter Chernin, The Future Of Digital Entertainment
In this episode, filmed at Goldman Sachs’ Builders + Innovators Summit, media executive Peter Chernin discusses the evolution of digital entertainment and how the business continues to adapt for a changing consumer. Watch Video
eSports Joins the Big Leagues
With one of the fastest-growing fan bases in pro sports, a youthful global audience that’s already larger than Major League Baseball’s and top players who are quickly joining the ranks of millionaires, eSports has entered the mainstream. View Infographic
An Inflection Point in the Global Expansion of Electric Vehicles
The global market for electric vehicles (EVs) is poised for further growth as the cost of batteries continues to decline and major auto manufacturers commit significant resources to electrifying their fleets, explains Chris Buddin of the Investment Banking Division. Watch Video
As Emerging Brands Take Share, M&A Heats Up
As emerging brands take market share from larger, established companies, Jane Dunlevie of Goldman Sachs’ Investment Banking division explains that technology is transforming how consumers identify with brands, as well as how those brands are born and become profitable. Watch Video
NextGen Power: Solar to Transform Europe’s Energy Mix
Solar costs have plummeted by 80% since 2010, which is game-changing for power markets as it removes the main obstacle preventing renewables from dominating the energy mix: the cost of energy from large-scale PV plants is now lower than that of conventional fossil fuel plants. Read Report
From Mobile Wallets to Blockchain: How Fintech is Growing Up
Jeff Gido, global head of Goldman Sachs’ financial technology sector within the Investment Banking Division, shares his views on where we are in the “three waves of fintech” and what we can expect from next-generation fintech business models. Listen Now
Moving Beyond the Early Adopters: Extended Reality Accelerates
Heather Bellini of Goldman Sachs Research weighs in on extended reality, a technology platform that brings augmented and virtual reality together into one medium. Watch Video
Double Vision: Using ‘Digital Twins’ to Pair Virtual and Physical Worlds
Being able to “see it before you build it” has long been a dream of manufacturers, but only recently has technology advanced to the point of making this a reality. Goldman Sachs Research’s Joe Ritchie explains. Watch Video
Quantum Computers: Solving Problems in Minutes, Not Millennia
Companies are accelerating their efforts to develop a powerful new computing model capable of solving more complex, larger-scale problems. Toshiya Hari of Goldman Sachs Research explains. Watch Video
Tim Urban, Reasoning for the Future: From Technology to Politics
Tim Urban, co-founder of the blog Wait But Why, spends his days writing about what he calls “this magical world of the future.” He explains everything from space travel to artificial intelligence to the thinking of leaders like Elon Musk. In this discussion, Urban tackles some of the toughest issues he’s written about – from technology to politics. Watch Video
Advice for a Flawless Pitch
We asked five founders and CEOs who attended the Goldman Sachs Private Internet Company Conference to share their tips for crafting a successful pitch. Watch Video
The Line of Sight for Facial Recognition
Advances in machine learning technology are enabling a range of new applications for facial recognition, elevating it to the level of an emerging ecosystem to watch. Gabriela Borges explains as part of Goldman Sachs Research’s “Outsiders” series. Watch Video
Satya Nadella, Hitting Refresh on the Culture of Technology
In this discussion, Satya Nadella, CEO of Microsoft and author of the recently published Hit Refresh, discusses his vision for the future of Microsoft and the technologies that will most impact our economy and society in the next several years, including AI. Watch Video
Uptick: The Rise in Technology IPO Activity
Will Connolly, head of Technology Equity Capital Markets, discusses the uptick in the number and performance of technology IPO’s in 2017, with diversification across sectors and regions, as well as a look ahead to the 2018 IPO market. Watch Video
Voice Search: The Latest Spark in the E-commerce Transition
While today voice search might be used to check the weather or the score of a football game, Goldman Sachs Research’s Heather Bellini sees the technology headed for greater integration in everyday life. Watch Video
Naval Ravikant, The Capital Play Behind Blockchain and Cryptocurrency
In 2010, Naval Ravikant founded AngelList, an online hub where angel investors meet startups. In this discussion, held at the 2017 Goldman Sachs Private Internet Company Conference, Ravikant describes how he’s democratizing the investment process and how blockchain and cryptocurrencies in particular have helped usher in a broader group of investors. Watch Video
Dan Huttenlocher, Founding Dean and Provost of Cornell Tech
Dan Huttenlocher, founding dean and vice provost of Cornell Tech, discusses how the school is creating a new model for higher education and gives his perspectives on the most important technology trends on the horizon, from automation to artificial intelligence, and the impact they will have across industries. Watch Video
Scooter Braun, Disrupting the Music Industry
At Goldman Sachs’ Builders + Innovators Summit, Scooter Braun, founder of SB Projects, discusses his journey from the days of promoting parties in college to discovering pop star Justin Bieber on YouTube in 2008. Braun has become one of the most successful music moguls in the world, managing artists from Ariana Grande to Kanye West, while transforming the industry along the way. Watch Video
The Disruptive Risks of the Dark Net
What started as a channel for secure, anonymous communication has evolved into a multibillion-dollar shadow economy with mainstream risks. Goldman Sachs Research’s Heath Terry explains. Watch Video
The Rise of Digital Gaming
Ryan Nolan of the Goldman Sachs Investment Banking Division outlines three key factors driving the resurgence of the digital gaming industry. Watch Video
Blockchain: The New Technology of Trust
At its core, a blockchain is a transparent and secure record of transactions. Take an interactive tour of how the technology works and start to envision its potential for redefining the nature of everyday transactions. Explore Infographic
Robert Smith, The Fourth Industrial Revolution
Robert Smith, technology investor and founder of Vista Equity Partners, discusses how digitization continues to disrupt entire industries – from insurance to financial services, auto and beyond. Watch Video
Good Leadership in a World of Technological Change
We asked some of the attendees at the 2017 Goldman Sachs Technology & Internet Conference held in San Francisco about the secret to good leadership in a world of rapid technological change. Watch Video
David Solomon on the Technology Landscape
David Solomon, president and co-chief operating officer of Goldman Sachs, discusses how the significant growth of tech giants in 2016 and the pace of technological change is leading to “significant strategic shifts” as companies reevaluate their business strategies. Watch Video
Drones: Reporting for Work
Drones are evolving beyond their military origin to become powerful tools for businesses and local governments. See how they’ll be put to work in fields from firefighting to farming. View Infographic