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Single best Idea and it is a conversation of the day for Global Wall Street. Except Gary Gonsler is not a conversation of the day. He's a conversation of the month. And so here is the former chairman of the SEC now at MIT and a wonderful podcast with the Laureate Simon Johnson. Gary Gonsler on the topic at hand, private credit.
Look in terms of private credit, I think that it's there's some risks there, but it's a small part of our overall capital markets down for US capital markets what one hundred and fifty trillion or so, and this is a two trillion dollar corner. But there are some risk and I'm sure we'll get into it, particularly because they've offered to retail investors, high net worth individuals what what's called the wealth channel to be part of this, and
the wealth channel is turning on it. They're saying, we don't want to we don't want to be in here as much can we redeem out? And that's a little hard.
Gary gunslu there of m I T. Sloan. We continued our conversation. Too many things to talk about, and yes, I did, I asked him in jest. Is he letting his students in m T use artificial intelligence? Professor Gensler on this new thing AI.
Oh, it's everywhere, Tom. The students are using it. And I don't use it to grade students. But I do use artificial intelligence to do research, to challenge, to to to uh so, so I don't think you can say in a classroom, oh oh, we're going to ban it.
No.
This is the calculator came along when I was a kid. We use it. The Internet came along, we use Here's the thing, students, if you're listening, you have to command it. You have to challenge it. Don't let AI command you. You have to stay ahead of that. I call it the AI bear.
The former Chairman of the Securities and Exchange Commission, Gary Gensler, We're on a podcast on Apple, on Spotify, on YouTube podcasts. It's single best idea.