Latest news with #MilkenGlobalConference
Yahoo
17-05-2025
- Politics
- Yahoo
The Issue Is: Inside the Milken Global Conference
BEVERLY HILLS, Calif. - The Milken Global Conference unites the biggest names in tech, politics, sports, entertainment and more. 'The Issue Is:' hosts a panel on Los Angeles' wildfire response, featuring LA Mayor Karen Bass, Snapchat Founder and CEO Evan Spiegel, Cinny Kennard, head of the Annenberg Foundation, and Los Angeles County Supervisor Lindsey Horvath. U.S. Education Secretary discusses President Donald Trump's plans to dismantle the Department of Education. Dr. Mehmet Oz talks about his new position as head of the Centers for Medicare and Medicaid Services. California First Partner Jennifer Siebel Newsom Political experts Frank Luntz, Sarah Longwell and Nicholas Kristof talk about the mood of the country under the Trump administration and the state of the Democratic opposition. "The Issue Is: with Elex Michaelson" is California's statewide political show.
Los Angeles Times
14-05-2025
- Business
- Los Angeles Times
Small Language Models and Proprietary Data Represent the Future of Enterprise AI
At the recent Milken Global Conference, K1's Neil Malik shared why K1's focus has always been on acquiring software businesses that are the ultimate system of record for their enterprise customers. As leaders across finance, technology, and policy gathered last week in Los Angeles for the Milken Institute Global Conference, artificial intelligence remained a defining topic – with the dialogue shifting from future potential to real deployment across global industries. We spoke with Neil Malik, Founder and CEO of K1, about how the firm is navigating this shift by investing in companies that sit at the intersection of proprietary data and AI-driven automation. The enterprise software industry is undergoing a seismic transformation – and artificial intelligence is at the center of it. While many companies are experimenting with AI, the real winners will be those who integrate AI into mission-critical systems of record: platforms that hold proprietary, often regulated, data accessible only through their applications. These systems create a durable competitive advantage. For Neil, this is more than just a thesis – it has been the foundation of K1's investment strategy since the firm's inception. 'Our companies are the systems of record for highly sensitive and, oftentimes, regulated data – and that's what makes their AI capabilities so powerful,' Neil says. 'When you pair proprietary, structured data with mission-critical applications, you can build AI and automation layers on top that aren't just impressive – they're trusted, targeted, and deeply embedded in the customer's daily operations.' By investing in AI-powered enterprise software, K1 is not just adapting to industry change – it's helping shape the next generation of category leaders. 'Our portfolio companies are really benefiting from the recognition of the value of artificial intelligence, and large enterprise customers are now rushing to buy more modern platforms like the ones we offer. As a result, many of our companies are disrupting legacy incumbents.' AI adoption in the enterprise is accelerating, but as Neil noted, K1's portfolio companies are enabling Fortune 500 and Global 2000 businesses to keep pace. Built within the last 10–15 years, these companies are cloud-native by design, allowing them to adopt and deploy AI faster than many of their legacy competitors. The data in these platforms is typically highly sensitive, difficult to move, and not suitable for public AI models. As a result, the embedded applications and automation built within these platforms are increasingly sought after to help unlock insights and value from that data. Some of K1's portfolio companies are seeing near 100% year-over-year growth in bookings tied to AI-powered products – a clear sign that AI is driving topline results, not just operational efficiency. Vertical AI isn't built on prompts – it's built on proprietary data. That's exactly where K1's portfolio companies are focused – embedding AI on top of the critical data. Across the K1 portfolio, companies are advancing AI capabilities, particularly around agentic AI use cases that drive workflow automation and measurable productivity gains for customers. Because many of these companies serve verticals such as financial services, legal, healthcare, and education, they are uniquely positioned to build domain-specific models. These models are trained on clean, compliant, and non-public data – deeply integrated with business-critical processes. For private equity firms focused on enterprise software, the landscape is changing. 'We've had an opportunity to see multiple cycles in the economy over the last 30 years. Our job is to seek predictable and repeatable ways of generating alpha for our clients in and out of these cycles – and we believe advancements in artificial intelligence allow us to accelerate our ability to do just that.' That disciplined approach has helped K1 invest in over 250 software companies, making it one of the largest – and fastest growing – investors in small-cap enterprise software globally. According to sources close to the firm, K1 has had a record 18 months of liquidity, with 13 liquidity events in that time, including two in the last month. Notable recent exits include GoCanvas (acquired by Nemetschek, FRA:NEM), Irwin (acquired by FactSet, NYSE:FDS), Axcient (acquired by ConnectWise, a Thoma Bravo company), and AppLearn (acquired by Nexthink). Importantly, K1's strategy has performed well even in a challenged exit environment. The firm has historically not relied on IPOs to generate returns – instead driving liquidity through strategic sales, even when public markets are quiet. As many in the industry grapple with distribution shortfalls, K1 expects to deliver additional realizations in 2025. And while tariffs and geopolitical uncertainty have slowed decision-making in some sectors, these factors have not negatively impacted K1's portfolio or deal velocity to date – a testament to the mission-critical nature of the software companies the firm backs. K1 is now preparing to begin deploying additional capital, with over $1 billion of opportunities currently in exclusivity.
Time Magazine
10-05-2025
- Business
- Time Magazine
How Business and Finance Are Really Talking About Climate Change
Greetings from Los Angeles where the Milken Global Conference concluded earlier this week. For the uninitiated, Milken is a key stop on the conference circuit for many business and finance leaders—a great way to escape Manhattan to brush shoulders with industry titans and top policymakers in Beverly Hills. It is by no means a climate conference. This year, public sessions with U.S. Treasury Secretary Scott Bessent and NVIDIA CEO Jensen Huang drew packed ballrooms. But, to many, the real draw of the conference is the behind-the-scenes discussions—an opportunity for information gathering and dealmaking. For me, Milken is a great place to take the pulse on how key figures in the world of business and finance are feeling about energy, climate, and related issues. There is no doubt that climate has slipped from center stage as CEOs contend with tariffs and what might diplomatically be called a fast-changing policy environment. At the same time, it may come as a surprise to those who just follow the headlines, but the issue remains well-placed on the corporate agenda—not just in the ballroom discussion panels of the Beverly Hilton at Milken but in the behind-the-scenes executive conversations taking place in private meeting rooms, nearby restaurants, and even just the crowded hallways. The picture that emerges to me is a dynamic one. Companies are trying to navigate an increase in climate regulation in many jurisdictions around the world while at the same time contending with a U.S. government that doesn't want to hear about it. They are trying to protect their operations from the risks posed by climate change while conserving their financial resources in uncertain economic times. 'I've had hundreds of conversations since the election. I've never spoken with a company that said, 'You know what? We're going to let go of our net-zero target,'' said Nili Gilbert, vice chair at Carbon Direct, a company that invests in carbon management, on a Milken panel. 'However, there is a lot of conversation going on about the interim strategy.' My conversations at Milken will inform my reporting in the weeks to come, but for now I want to highlight a few things that stood out to me: Physical risk Much of the public discussion at the intersection of business and climate has focused on how companies can decrease their emissions. But companies have also been forced to look at how the physical risks of climate change may affect their operations. That rethinking is the result of both climate disclosure rules in Europe that require companies to assess how climate change threatens their operations, and recent climate-linked disasters that have brought those realities home. Many companies want to avoid talking about climate risk directly. It's not exactly a great PR move. But a careful look at many companies' more recent sustainability initiatives makes the link apparent. Think of an agriculture company that helps farmers in the supply chain use less water or a fashion company diversifying where it buys materials. 'Being able to map those impacts and hazards is super important,' said Melissa Fifield, who runs the BMO Climate Institute, on a panel I moderated focused on water and climate. 'It's a material impact to a lot of companies.' Investment speed Climate isn't an island. The trillions in investment that the world needs to mitigate and adapt to climate change will come in forms that might otherwise be classified broadly as infrastructure, venture capital, or private equity. And the uncertainty of the moment—political and economic—has made companies and investors reluctant to make big bets and instead focus on conserving cash. 'These asset owners… want to focus on climate and infrastructure,' said Mark Berryman, partner at Capricorn Investment Group, an impact investing fund, on a Milken panel. But 'they may just kind of tighten their belt in general, even if it was not a climate focused investment,' AI, meanwhile, is a bright spot for how companies might focus their investment. As I've written before, the race to build data centers has created a race to build clean energy. Financial innovation Innovation typically draws to mind new technologies, but financial innovation can be just as important to bring clean energy to market. Across the conference, it was reassuring to hear leaders at the intersection of climate and finance talk about different ways companies may soon be able to raise the money necessary to bring climate projects to life. That includes long-standing conversations like carbon markets and blended finance, where public or philanthropic dollars are combined with return-oriented investment. But it also includes new vehicles like private credit, an emerging asset class where investors outside of typical banks lend directly to companies. Ultimately, financial innovation is a key ingredient to any energy transition, and these questions will need to be settled.
Yahoo
10-05-2025
- Business
- Yahoo
Hollywood Studios Meet With MPA to Set Film Tariffs Plan, Strategize for Potential Trump Talks
Executives from several of Hollywood's major studios met Friday by phone with the Motion Picture Association to discuss the draconian foreign film tariff Donald Trump has called for. Details about the meeting, organized by MPA CEO Charles Riven, have not been made public. However, an individual with knowledge of the proceedings told TheWrap that it began with discussion of what studio bosses want Trump to know about the current state of play for production, before eventually turning to the California film and TV tax credit. That mirrors comments made by Sony Pictures CEO Ravi Ahuja Wednesday at the Milken Global Conference, that the problem is, essentially, a California problem. 'So, while it's true a lot of production has left the United States, it's even worse for California, and there are a lot of people — including our companies — that are working on this with the state government and trying to come up with different bills that will help,' he said. Another individual with knowledge of Friday's call downplayed its significance, telling TheWrap it was very similar to the routine meetings that the MPA has with member studios and that nothing concrete came out of it. Participants in Friday's call have not been made public, but according to THR, which first reported the meeting was happening, Disney Entertainment co-chairman Alan Bergman, Amazon MGM Studios' chief Mike Hopkins, Universal Pictures chair and NBCUniversal Entertainment & Studios chief Donna Langley, Paramount Global co-CEO Brian Robbins, Sony Pictures Motion Picture Group chair Tom Rothman, Netflix co-CEO Ted Sarandos and Warner Bros. Discovery CEO David Zaslav were expected to call in. Although the industry would clearly welcome help from government to spur more domestic production, the solution Trump proposed on Sunday — a 100% tariff on all movies made outside of the United States — isn't one that anybody wanted. And even if it was, it would be extremely difficult to implement in any rational way. The proposal came after a meeting with actor Jon Voight, one of his 'Hollywood ambassadors,' and Trump subsequently acknowledged that he hadn't spoken to industry leaders before going public with the idea. As an indication of how different Trump's thinking on this matter may be from Hollywood's the president also described tax incentives and other tactics used by foreign countries to attract movie productions as 'a national security threat. It is, in addition to everything else, messaging and propaganda.' Trump's call for the tariffs, yet another dramatic policy demand communicated on his Twitter clone Truth Social, left Hollywood reeling and has since produced a very disunified response from the entertainment industry. The MPA has not responded to a request for comment from TheWrap. The post Hollywood Studios Meet With MPA to Set Film Tariffs Plan, Strategize for Potential Trump Talks appeared first on TheWrap.
Yahoo
08-05-2025
- Business
- Yahoo
We went to Milken, where the rich were worrying in public — and partying in private
The annual Milken Global Conference brings bigwig CEOs, billionaires, and talking heads to LA. At a ritzy hotel in Beverly Hills, execs speaking on panels stressed how much uncertainty there is. In private chats and at late-night parties, though, big money elites showed no sign of slowing down. If you closed your eyes and only listened to the panels at this year's Milken Global Conference, you'd think the country was on the verge of a recession. One of the most common words spoken by executives and investors was "uncertainty." Treasury Secretary Scott Bessent's speech — not talks with Peyton Manning or Tony Blair or Henry Kravis — was the hottest ticket in town, with attendees lining up an hour out for his opening remarks. Pessimism about the US was so high that professional investors are looking to put money to work in Europe, long ignored by American firms because of the continent's slow growth relative to US companies. "The brand is definitely tarnished now," State Street CEO Ron O'Hanley said, echoing comments made by Citadel's founder, Ken Griffin, and Apollo CEO Marc Rowan. "The real question is whether this is permanent," O'Hanley, whose firm manages $4.7 trillion, said on a panel about the macro environment. The "animal spirits" energy radiating off the investor class and C-suites in Davos was nowhere to be found on the Milken stages in Beverly Hills, California, thanks to President Donald Trump's tariff policies, which have upended global equity and bond markets. "The mood was unbelievably optimistic" in Switzerland, Katie Koch, the CEO of the $195 billion credit investment manager TCW, said while sitting next to O'Hanley onstage, but it's "the opposite now." The Beverly Hilton was packed with upward of 5,000 attendees this year, the conference's biggest showing since 2019, despite ticket prices starting at $25,000 apiece. Lines snaked around the lobby for top speakers like Jessica Alba — even the tennis star Novak Djokovic was seen waiting to get in. Attendees competed not only for seats but also for invitations to the most coveted after-parties, held at the members-only Bird Streets Club and restaurants such as Funke, Cipriani, and AOC. One of the hardest invitations to get was a dinner with Bessent on Sunday night. Walking around the ritzy Beverly Hills hotel and speaking with attendees in the conference's wellness garden (featuring "puppy playtime" and "nervous system reset" chairs) or at the numerous after-parties hosted by banks and private equity giants, we found the mood was much more positive. "This isn't the type of food you'd see at a reception during a recession," one partygoer said Monday evening as a platter of tuna tartare passed by. The person, who has been investing in private markets for decades, said he wasn't worried about the economy until after-parties put a limit on the number of drinks each person could get from the bar. People were encouraged by Bessent's comments tying the tariffs to deregulation and tax cuts. While many asset managers are not deploying capital, they're still fundraising, and meetings with representatives from Middle East sovereign wealth funds were some of the toughest to get. Once he was done speaking on a panel Monday afternoon, Saudi Arabia's minister of investment, Khalid Al-Falih, was swarmed by attendees. There's also still plenty of optimism around tech and the promise of artificial intelligence, with self-driving Waymo cars dropping off many attendees and a fridge-sized box in the lobby allowing passersby the chance to speak with a hologram of the conference's host, Michael Milken, in several languages. Elon Musk, who was a popular headliner last year, chose to stay behind closed doors this year, giving an interview to Milken in front of an invite-only crowd Sunday, someone who attended said. Milken also interviewed Nvidia CEO Jensen Huang on Tuesday in front of a packed audience. At a party held Sunday at the billionaire Nicolas Berggruen's Beverly Hills mansion to celebrate the fifth anniversary of his tech philosophy magazine, Noema, interpretive dancers performed by the pool before the journalist Kara Swisher hosted a debate on whether AI makes us more human. Perhaps one of the best metaphors for the mixed signals at the elite gathering is the bougie boxed lunches given out each day to the thousands of attendees: a seemingly austere offering that contained more luxurious options inside, such as salmon with tabbouleh and chocolate mousse. The US, it seems, is still a hard habit for many investors to kick. In the same breath that deep-pocketed panelists would criticize trade policies or talk up international opportunities, they'd mention the overwhelming size of the country's capital markets or innovative culture. Johnson & Johnson CEO Joaquin Duato, a dual citizen of the US and Spain, paraphrased a Winston Churchill quote to describe businesses' thinking on the future of the world's largest economy: "Americans always do the right thing, after trying everything else." Read the original article on Business Insider
