This week on the Beyond The Billions podcast, Forbes Deputy Editor Giacomo Tognini talks with Forbes staff writer Brandon Kochkodin. They take a close look at big changes in how new fortunes are being made and the growing financial dangers facing the world. Their discussion focuses on one main idea: why the economy, which looks strong right now, is actually in “uncharted territory” for financial markets, behaving in ways that don’t match old rules or past trends. And with technology stocks now making up almost 40% of the S&P 500’s total market capitalization, a crucial question arises: Does this concentration of capital in a few stocks, particularly through popular index funds, pose a hidden danger?
00:00 This Week In Billionaires…
03:14 The “Scent” Of An Asset Bubble
05:09 The Great Paradox: Why Gold And Stocks Are Soaring Together
07:05 Separating Big Tech Fundamentals From Meme Stocks
11:43 How AI Borrowing Drives Up Your Interest Rates
17:30 The Broken Alarm: Why The Recession Indicator Failed For Two Years
20:56 The Great AI Bet: Are You Really Diversified In The S&P 500?
To read more about the trillion-dollar AI borrowing binge:
https://www.forbes.com/sites/brandonkochkodin/2025/11/19/trillion-dollar-ai-borrowing-binge-could-spark-the-next-credit-crunch/
To read more about asset bubbles from gold and Bitcoin to stocks and junk debt:
https://www.forbes.com/sites/brandonkochkodin/2025/11/10/its-not-just-an-ai-bubble-heres-everything-at-risk/
To read more about New York state’s recommendations for casino licenses:
https://www.forbes.com/sites/willyakowicz/2025/12/01/billionaire-steve-cohen-ballys-and-resorts-world-win-battle-for-new-york-city-casino-licenses/
To read more about Kalshi’s Luana Lopes Lara, the world’s youngest self-made woman billionaire:
https://www.forbes.com/sites/aliciapark/2025/12/02/how-kalshis-luana-lopes-lara-cofo[…]nal-ballerina-to-worlds-youngest-self-made-woman-billionaire/
To read more about the new billionaires from data center cable maker Credo Technology:
https://www.forbes.com/sites/emilygarcia/2025/12/01/this-company-supplying-ai-datacenters-with-cables-just-minted-two-new-billionaires/
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