In the Vault: Assessing AI Impact vs. Hype with John Stecher of Blackstone

a16z general partner David Haber talks to John Stecher, Chief Technology Officer at Blackstone, where he advances cutting-edge technology, heads up innovation investing, and advises the firm’s investment teams and portfolio companies. The conversation covers how he decides whether to build tech in-house or partner with startups, what qualities he’s looking for in early stage companies, and how he sees AI impacting real estate, credit, energy, and ecommerce.0:00-1:05 Intro1:06-3:55 Changes in finance x tech over the past 2 decades3:56-5:06 Investing in "themes" across asset classes5:07-7:00 What the CTO role entails 7:01-9:00 "Build it" vs. "buy it": trade-offs9:01-11:57 Advice for early stage companies11:58-16:37 Ways Blackstone is incorporating generative AI16:38-17:46 How AI changes the role of an analyst17:47-21:04 Gen AI's impact on private equity, real estate, credit, more 21:05-22:54 How Blackstone will evolve over the next five years22:55-23:26 OutroPlease note that the content here is for informational purposes only; should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.