Asset classes

But when's this bubble gonna pop? In what way-- I mean, the NBA being valued at $10 billion for a franchise fee in Las Vegas, that feels really high.

Does that mean bubber- bubble pop, or does that mean that's what the going rate is? Its chief strategy officer, Sam Porter, said at the Front Office Sports Asset Class event on Tuesday, Apollo already holds stakes in the New York Yankees, Wrexham AFC, Atlético Madrid, closed on a landmark $2.6 billion investment with the Yankees last month.

Two years ago, the NFL opened the door to approve PE partners up to a 10% stake spread across as many as six teams.

Apollo is currently one of the NFL's approved partners.

It's not a fan.

It's a machine for finding assets that always go up or whatever, go up, and taking a piece of that.

And for years, it looked at the single best performing asset class in America, NFL franchises, professional sports franchises.

Wrexham, Ryan Reynolds bought Wrexham in t- uh, five, six years ago for two million.

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niche content websites, newsletters, and hyper-local news platforms are now consolidating as a legitimate alternative asset class.

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The core thesis is straightforward.

And I believe one of my sort of life goals is to try and simplify the complex.

So I believe there's four key asset classes that you need to know about on your journey to wealth.

The four of them are cash, and we're going to speak about that in a second.

The next one is equities, so that's shares and investing in the stock market.

And the fourth general key asset class is property.

And you can access property by investing in funds that then buy physical real properties or you can yourself buy properties, as you know, buy residential holiday homes, buy to let investment properties or commercial properties that you rent to businesses and companies and, you know, high street shops and car parks and all the other things that fall within the commercial property sector.

And I've put other asset classes is hedge funds, private equity and commodities.

So they're the three other type of asset classes.

expansion continues on which if the compute side continues on then the models will naturally expand to fit and the data sets will i believe it continue to expand but the physical part of that which is the infrastructural build out which involves both power and compute is continuing on, continuing to get funded.

And investors are starting to really like GPUs as an asset class.

If you flash back to the 2000s or whatever, it's not uncommon if you're familiar with the insurance industry for insurance companies to take their float and invest it into really rock solid, stable assets.

They'll buy a power plant or they'll buy a toll road or something like this.

This is what NVIDIA GPUs are becoming today.

They're becoming an asset class that's super investable that investors really like.

They like the return on it.

Lambda has had V100s, which are a GPU from 2017. in our cloud, still nearly fully sold out and occupied by our customers, right? And so if you go back just a few years to people making, you know, short sellers making these insane statements like, oh, there's only a three-year usable life to the GPUs.

But, but yeah, I've seen kind of a little bit of both is kind of the quick answer.

There's a lot of people who tend to get what we'll call scope creep when they're looking at different asset classes and identifying their next deal, and what type of scope of work should they be doing.

Have you ever looked at other asset classes, or has it always been multifamily, uh, for you? Uh, walk me through kind of the decision matrix of how you ended up focusing on the multifamily space.

Yeah.

Well, actually, it's funny you say that, 'cause like with my management company, if I...

Like I, like I said, if I could go back in time, I would have fewer clients, and I would take on fewer asset classes.

I was very, very good, and I felt very comfortable in the multifamily A...

I wouldn't even say A, I'd say B, C class, where you're doing renovations.

Oil was a cost before it was an asset class.

So was electricity.

So was freight.

They want a position in it.

That is what financialization means, and it is happening to compute as we speak.

compute as an asset class.

That is a heavy phrase, and I mean it.

The thing every AI company runs on is being rebuilt into something you can own without ever using it.