Brookfield CEO: AI Bubble, Opportunities, and Risk | Connor Teskey

Video Description

Capital allocation, risk management, and leadership at scale — Connor Teskey was just appointed CEO of Brookfield Asset Management, one of the world's largest alternative asset managers with roughly $1 trillion in AUM. In this conversation, Connor and Shane go deep on how Brookfield actually makes decisions, why Connor believes "when something feels 90% right, do the deal," and what post-success behavior reveals about a person's character. They discuss Brookfield's bet on young talent, why the firm deliberately avoids the "victory lap" culture that kills so many great companies, and how Connor built the conviction to run an organization this size while still in his 40s. This is a rare, long-form look inside the culture and capital allocation framework of a firm that moves markets but rarely speaks publicly. Topics covered: * Brookfield's culture: why young operators are given real ownership early * The "90% rule" for making deals and committing capital * How to eliminate risk instead of chasing returns * Why the best at Brookfield skip the victory lap — and what post-success behavior signals to leadership * Capital allocation discipline at trillion-dollar scale * How Connor thinks about talent development and succession * Leadership lessons from taking the CEO seat at a global alternative asset manager Learn more at: https://fs.blog/knowledge-project-podcast/connor-teskey/ Timestamps: (00:00) Introduction (00:05) State of the Union for Brookfield (04:14) Nature of Investing (07:24) The Rise to Brookfield (12:06) Your Work Ethic is in Your Control (17:30) Ad Break (19:00) Data Center Deep Dive (22:22) How Does a Deal Come to Be? (29:34) Taking Bets Against Consensus (32:00) What Happens Post Business Acquisition? (40:44) Ad Break (41:55) Lived Experience Through Crashes (43:44) Where Does Talent Matter the Most at Brookfield? (47:10) Identifying Talent (58:18) Using AI to Increase Value Not Cut People (01:01:58) When Was Brookfield the Underdog? (01:03:38) Personal Ambition Over the Next 20 Years (01:10:34) Behind The Scenes of Oaktree (01:15:17) Work and Life Harmony (01:17:54) Time Allocation (01:19:58) The Most Fun Deal to Work On Thank you to the sponsors for this episode: Granola AI: The AI notepad for people in back-to-back meetings. Get 3 months free at https://www.granola.ai/shane Check out the Granola Notes for this episode: https://notes.granola.ai/t/b0c2c94e-a330-4f0f-a62d-beb3c946a539-009c2hma The League: Download The League App today and find your perfect match! https://click.theleague.com/qmhm/0vdzsmj5 Shopify: Upgrade your selling today at https://shopify.com/knowledgeproject Follow Connor Teskey: LinkedIn: https://www.linkedin.com/in/connor-teskey-67931326b/?originalSubdomain=uk⁠ * Note: ‍Shane and guests may hold positions in assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. Nothing in this conversation should be considered investment advice, financial guidance, or a recommendation to buy or sell any security. Always do your own due diligence or consult with a qualified financial advisor before making investment decisions.  *Shane Parrish* Instagram: https://www.instagram.com/farnamstreet/ X: https://x.com/ShaneParrish LinkedIn: https://www.linkedin.com/in/shane-parrish-050a2183/ Books: https://fs.blog/books/ Website: https://fs.blog/ Newsletter: http://fs.blog/newsletter *The Knowledge Project* is a show featuring in-depth conversations with the top CEOs, investors, and business leaders to uncover the timeless principles that drive success. Learn more at https://fs.blog/podcast #investing #artificialintelligence #podcast