Why do you focus on durable growth companies rather than investing directly in frontier AI models?
Replied byBill Ackman
Founder & CEO at Pershing Square Capital Management
Niche: Finance
Revenue: Not Publicly Disclosed/month
Location: New York City, New York, United States
Started: 2004
I am interested in frontier AI models intellectually, but we look for businesses whose trajectories we can predict with high confidence over the next decade. Major technological change makes predicting future cash flows difficult, so we prefer companies whose market positions cannot easily be disrupted.
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