We asked a $18.9B Investor how to survive the AI bubble

Graham Weaver, who runs a private equity fund with almost $20 billion in assets under management and teaches at Stanford, discusses strategies for achieving high returns in private equity. Weaver highlights the firm's focus on "buy and build" strategies, particularly in prosaic industries like plumbing and HVAC, where they deploy high-attribute leaders, often military veterans, to run and improve businesses. He contrasts this with the overhyped AI app layer, where many venture-backed companies with high valuations are likely to fail due to a lack of sustainable moats. Weaver also shares personal insights on setting goals, overcoming limiting beliefs, and the importance of being present, drawing from his experiences and the principles he teaches.