Bill Ackman
Bill Ackman is the founder and chief executive officer of Pershing Square, an investment firm he founded in 2003. He is an activist investor and public market commentator, and serves as chairman of Pershing Square’s board.
AI’s Rapid Progress Is Making Corporate Dominance Harder to Predict
In a conversation with Shane Parrish, Pershing Square founder Bill Ackman argues that rapid advances in AI make it harder to know whether today’s dominant companies will remain durable: some, he says, may disappear. The investment case he lays out is to scrutinize a business’s long-term resilience, management and capacity to generate cash, while waiting for a price that offers an attractive return. He also describes how a change in Netflix’s plans broke Pershing Square’s investment thesis—and why evidence of stronger execution later led the firm to buy the stock again.
Ackman Says AI Threats Are Leaving Durable Incumbents Mispriced
Bill Ackman told the All-In hosts that Pershing Square’s investment filter has shifted toward durable business quality while remaining activist where influence can extend a company’s time horizon. He argued that AI has made disruption risk the first question for long-term investors, even as markets may be overlooking incumbents such as Microsoft, Meta and Amazon. Ackman also cast founder control, valuation discipline and permanent capital — including his Howard Hughes project — as ways to underwrite businesses through a period when public markets and CEOs are still working out AI’s practical effects.