Tony Kim
The Strategist
The long view, patient, analytical, playing several moves ahead.
Tony Kim reads as The Strategist because his self-described deconstructionist method resembles ancient cartography, charting every node of the AI value chain, from chips to robotics, before committing a dollar of capital. His preference for multi-year conviction over quarterly drift marks a leader who steers by fixed analytical stars rather than prevailing market winds.
“100% agree The multiple. Aggregate has not changed dramatically, but it has driven by free cash flow. And the 40% I'm quoting is a combination of comm services, which they... Carved out, which is really tech companies. With classic tech, that's over 40.”
“I think valuation, if I were to broadly say, is at a fair level. Now, there's dispersion in that. You mentioned the MAC 7 and the crowding and these. These giant winners, they have valuations that are higher than the rest of tech.”
“Yeah, yeah, yeah, yeah. And, you know, it's always a great barometer. What were the topics of the tour in 2014 versus 2024? And you could really see an evolutionary of what was topical every year.”
“All the way up to the apps from the compute to the apps and everything in between. And I do know one thing. So we wanted a concentrated exposure to builders of AI. Companies building the key elements of AI. And I do know one thing, it will be. Going to change dramatically. What we think is the companies of today might not be.”
Masters in Business: “From Technology in Focus to Finance with BlackRock's Tony Kim”
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