Bill Ackman: People are Going to Lose a Lot of Money

Warren Buffett, the greatest investor of all time, he was not able to perceive the risks of disruption created by the internet. Well, now we have AI. >> We're the beginning of an industrial revolution. >> It's a much more complicated problem. If you had to guess, how do you think it plays out over the next 18 months?

>> The pace of improvement [music] is by far the fastest of anything we've ever seen. There will come a time there'll be some form of a blow up where people lose a whole bunch of money. What's your investment process like? How do you go from I'm interested in this company to now we're writing a check for a billion

dollars. >> Over time, you develop a spidey sense on people. If you look at our most successful investments, they've usually been cases where we've done something that someone hasn't done before. >> What advice do you have for the ordinary person who's making a paycheck and wants to invest? So, if you want to be an

investor, [music] >> you've had a challenging year this year with Lucy. What happened? >> You know, otherwise healthy child. What happened was uh she had unbeknownst to us a what's called an arterial venus malf for which is a kind of structure in the brain where the the way they doctors describe it is the arteries you know

typically blood flows into the arteries and then to the capillaries and then to the veins and when you go from arteries where there's a huge amount of blood flow to capillaries the blood flow slows down and then to the veins. So they um in her case she had what they like a bridge that went from the artery

directly to the vein. So over time there was too much pressure going into the this these veins in her brain and one of those veins burst and then a large amount of blood you know filled her brain which is a confined volume. And so it you know it's a bit like a balloon