Smash Notes
Why Is Franklin Templeton Investing in SpaceX and Anthropic? · Sourcery

Sourcery

Franklin Templeton CEO on SpaceX, Anthropic, Circular Deals & the State of the Market

Is AI in a bubble? What happens to circular AI financing deals, and why is one of the world's largest asset managers investing in SpaceX and Anthropic? I sat down with Jenny Johnson, CEO of Franklin Templeton ($1.8T AUM), at the firm's NYC headquarters to discuss today's market conditions, AI valuations, private markets, and the future of investing. We…

People

Notes

  1. Why Will Interest Rates Stay Higher? at 2:17

    Jenny Johnson thinks inflation is probably pretty sticky and rates are probably going to stay higher, after setting aside noise around AI, hyperscalers… Full answer

  2. Is AI in a Bubble? at 8:11

    Jenny Johnson says AI feels frothy in some areas, and she would not finance data centers long term because that bet assumes today's chip manufacturing and… Full answer

  3. Why Did Franklin Templeton Start Late-stage Venture? at 12:29

    Jenny Johnson says Franklin Templeton started late-stage venture because companies wait much longer to go public, so portfolio managers lost the IPO kickers… Full answer

  4. Why Is Franklin Templeton Investing in SpaceX and Anthropic? at 12:35

    Jenny Johnson says Franklin Templeton invests in SpaceX and Anthropic through late-stage venture, because companies wait much longer to go public and the IPO… Full answer

  5. How Early Did Franklin Templeton Close Legg Mason? at 19:25

    Jenny Johnson closed Franklin's deal for Legg Mason 60 days early. Full answer

  6. How Big Is Franklin Templeton's Canvas App? at 23:58

    Jenny Johnson says the Canvas application was about two and a half billion when acquired and is now 30 billion, probably four years later. Full answer

  7. How Did Franklin Templeton Grow Putnam's Assets? at 25:59

    Jenny Johnson says Franklin took Putnam's equity team, or the total assets there, from about 136 billion to over 220 billion by bringing a high-performing… Full answer

  8. What Is the Minimum for Franklin Templeton's Tokenized Fund? at 30:52

    Jenny Johnson says the first natively on-chain tokenized money market fund the SEC approved can open an account for $20, while a traditional Franklin… Full answer

Related notes

Related episodes

Plays from this note through the rest of the episode.

Note

Weekly highlights

One letter a week.

The notes worth hearing, with the minute they were said.