Program and guest
A conversation at the Milken Global Investors’ Symposium in Mexico City, featuring Bill Ackman, founder and CEO of Pershing Square. Original English title: Conversation with Pershing Square Capital Management Founder & CEO Bill Ackman | GIS Mexico City '26. Subtitles cover the full program (approximately 16:13); this article covers the investment-theme section from approximately 0:00–8:00 and does not cover the personal stories in the latter half.
Key points
(The following paraphrases the guest’s intended meaning; timestamp links lead to the corresponding points in the original video.)
- On the current investment environment: Global debt has surpassed 365 trillion US dollars, trade rules are constantly being rewritten, and the market holds both cautious optimism and genuine concern. 0:12
- On opportunities and risks: The host asks him to identify the most compelling opportunity and the most overlooked risk. He begins his answer with AI, saying the world is changing very rapidly. 0:23
- On AI as the central theme: The story of 2026, 2027 and beyond 2028 is the impact of AI. The world is moving toward superintelligence, the cost of intelligence is falling, and intelligence, the world’s most valuable asset, is being made widely available. 0:33
- On the value of intelligence: Intelligence is the world’s most valuable asset and is being made widely available; the falling cost of intelligence will have a systemic impact on productivity, entrepreneurship and growth. 1:02
Background and notes
Subtitles cover the full program (approximately 16:13); this article covers the investment-theme section from approximately 0:00–8:00 and does not cover the personal stories in the latter half. The views and timestamps are paraphrased from the subtitles; timestamps mark the start of the corresponding passage. The guest’s name, Bill Ackman, follows the program description.