Ben Gilbert: prediction

Transcript context

…Ish. Yeah, ish. And Jon turns to him and says, "If you do that, you will destroy this entire industry." Now, of course, what's fascinating is that, you know, Capital Group and active management today has kind of never been better. Capital Group manages $3 trillion in assets. You can see why they had the fear, which is if you provide this existence proof that you can run this business at cost and you don't need to pay huge sums of money to the people managing this, then our customers will demand the same from us, which is sort of right because you can buy an S&P 500 index fund from basically anyone today at basically no cost. But also sort of wrong because Capital Group, BlackRock, Fidelity, these are all giant profitable companies. And so I think the interesting thing to sort of tease out across the rest of this episode is the competitors were probably right to be terrified of this sort of communist act where they took a crown jewel of capitalism and communized it. But at the same time- -kinda like the NFL, it ended up being great for everybody.…

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