• "I tell people today, younger bankers, you want to really get a long-term client, make sure you tell them when they shouldn't do the deal." - Greg Fleming [00:00:12]

• "We bought it with 18 billion in client assets and our client assets today are over 200 billion..." - Greg Fleming [00:01:06] -…

• "I always prefer to stay in the kitchen than going helping around the fields. So of course when you grow up as a kid around food like that I think it's bound to impact you some." - Daniel Boulud [00:01:26]

• "There’s the Daniel brand and there’s the Boulud brand. And Daniel there’s only one and it’s here. And there has never been any expansion of…

"if you wait until you have nothing to be afraid about probably the opportunity has passed" - Howard Marks [00:20:17]

"if you don't see anything different from everybody else you can't possibly be superior." - Howard Marks [00:08:32]

"a battle hero is not somebody who's unafraid it's…

"I wish I could say I had this noble intention to become a great human rights or journalist... No, I was arguing with people on the internet and I wanted to win the arguments." - Eliot Higgins 04:24

"Just because you feel something should be the truth doesn't mean it actually is the truth." - Eliot Higgins…

"Trying to find internal validation through external achievement is like drinking salt water to quench your thirst. It seems like it's going to work, but it just makes you thirstier." - Graham Weaver [00:07:20]

"Life is an internal game that's played in an external arena." - Graham Weaver…

1. Executive Briefing (TL;DR)

• The Core Thesis: The Associated Press (AP) is fundamentally transitioning from an organization that historically provided journalism exclusively for human beings to one that serves both humans and machines. To maintain economic sustainability in an AI-driven landscape, the AP is diversifying its revenue model, treating its vast journalistic archive as a structured data layer…

• "People talk about the beginning you're from and they look at where you've ended up and they say 'Wow haven't they been so successful,' but there were so many times when it could have easily gone the other way." - Jean Eric Salata [12:00]

• "That's sort of a recurring theme in my career that when there's been these big dislocations or some of these setbacks and…

"I think of the poets as the, um, Olympic athletes of the English language. They really know how to do it, so that limbers me up in the morning before I start my own humble efforts." - Geraldine Brooks [00:02:11]

"Fiction is required to stick to possibilities. Truth isn't." - Geraldine Brooks (quoting Mark Twain)…

1. Executive Briefing (TL;DR)

• The Core Thesis: Ethan Allen has sustained long-term profitability and an uncompromised premium brand identity by transitioning into a highly disciplined, vertically integrated custom manufacturing powerhouse. By applying sports-leadership principles and avoiding the temptation of aggressive expansion for the sake of bigness, the firm has insulated itself against macro…

• "in late October I discovered I had cancer the first question I asked which my wife was not happy with me asking was 'Can I work while I get this treatment?'" - C.S. Venkatakrishnan [00:00:00]

• "Mike Tyson sort of says 'You have all these plans and then you walk into the ring and then the first punch hits you.' And I had a punch 4 months in..." -…

This conversation, recorded on June 2, 2026, at the Goldman Sachs Apex Symposium, features Ken Griffin, the founder and CEO of Citadel, sharing his strategic perspective on global leadership, the technological landscape, and the shifting geopolitical order.

**1. Leadership and Human Capital…

1. Executive Briefing (TL;DR)

• The Core Thesis: When evaluating highly disruptive, non-consensus strategic moves, executive leadership must shift focus from standard loss-mitigation frameworks to maximizing asymmetric upside. True market differentiation occurs when a firm is willing to accept severe short-term public equity pressure and internal integration friction to capture first-mover technological…

"Being willing to put yourself out of your comfort zone... it can pay off if you really lean into it." - Mike Gitlin [00:00:46]

"With AI commoditizing a lot of the intelligence part of IQ, the EQ part... is going to be so much more important than whatever answer you need you can type in and get in two seconds." - Mike Gitlin…

• "Diversification is an act of humility We don't know And and and we do firmly believe in diversifying across asset classes and geographies as ultimately a riskmanagement tool" - John Graham [08:31]

• "I personally don't view public equity and private equity as as different asset classes I view them as different kind of ownership structures within…

"value creation in society has generally trended away from capitalized assets and is often created from expensed assets" - Pat Dorsey [00:07:45]

"if you're taking five in price and adding zero in value over time that catches up with you" - Pat Dorsey [00:13:30]

"the skill set of a founder is very…

• "Tennis is one against the other. When the things are going wrong, find a solution to change that dynamic, and when the things start to go well, find a way to keep going the same way." - Rafael Nadal [00:00:00]

• "The people that need to lose to know that they have to improve things, they don't have doubts. You have to have doubts, but also not let…

• "Jerry, this is a global pandemic. I don't know why nobody else has figured it out yet, but we're going to get ahead of the curve." - Scott Kirby [00:01:27]

• "When everyone else was shrinking and you're going to do the biggest aircraft orders in history, are you sure about this? But I was telling them, like, one, I think we're right, but we don't…

"Ownership broad ownership is essential to a free stable and prosperous society." - Vlad Tenev [00:23:50]

"A future owned by the few is a very fragile future we want to make everyone an owner." - Vlad Tenev [00:23:43]

"A lot of times the so-called smart money I think can be a…