Apollo's Zito on Fears Facing Private Credit Investors
Original Report
Apollo Asset Management co-President John Zito talks about how AI is impacting investing and private credit. “Everyone is acknowledging we will be in a higher-volatility regime, but they are not...
Apollo Asset Management co-President John Zito talks about how AI is impacting investing and private credit. “Everyone is acknowledging we will be in a higher-volatility regime, but they are not acknowledging credit is actually the typical safer place to be," he told Bloomberg's Dani Burger at the Milken Institute Global Conference in Beverly Hills. (Source: Bloomberg)
Glass House Analysis
This development in the banking sector reflects broader tensions between regulatory pressure and financial industry practices. The banking system serves as the circulatory system of the economy; any disruption ripples through to small businesses, homebuyers, and everyday consumers who depend on credit access.
International economic policy has concrete impacts far beyond diplomatic circles. Tariffs show up in the price of goods at stores, supply chain disruptions affect whether products are on shelves, and trade tensions can mean job losses in export-dependent industries. The globalized economy means that decisions made abroad can affect workers and consumers domestically.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
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Monday assorted links
1. Ezra Klein on whether AI is likely to lead to mass unemployment (NYT). 2. There is a great Kentucky Derby stagnation. 3. Is open source AI overrated? 4. The deadweight loss of the human capital in...