/AI7d ago

Apollo CEO Marc Rowan argues AI's massive capital demands will outgrow venture equity and rely on private credit

Apollo manages more than $1 trillion in assets.

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a16z@a16z

Financing the Global Industrial Renaissance with Apollo CEO Marc Rowan

Marc Rowan is CEO of Apollo Global Management, one of the most important financial institutions and the largest provider of retirement income in the world. In this conversation, he joins a16z's David Haber to discuss the story of Apollo, the state of public and private markets, how the AI revolution will be financed, and more.

00:00 Intro 00:52 Drexel, Milken & the origins of "clean sheet thinking" 04:55 The Apollo origin story: From unemployed to $6 billion 08:46 How Apollo became a trillion-dollar firm 13:00 Permanent capital, origination & why assets are the scarce resource 16:08 Democratizing private markets: Daily pricing & new capital channels 22:04 Where venture meets credit: Financing the industrial renaissance 30:01 AI, enterprise software & which jobs will be replaced or enhanced 38:52 Moral leadership: UPenn, merit & doing right over easy 46:02 Apollo's culture: Playing to win & building to outlast the founder

7:18 AM · May 27, 2026 · 163.4K Views
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VIEWS52.2KBOOKMARKS142LIKES208RETWEETS29REPLIES19
David Haber@dhaber

Marc Rowan has quietly built Apollo from a distressed-focused private equity firm into one of the most important financial institutions in the world, now managing over $1T in assets and becoming the largest provider of retirement income globally.

In this fantastic conversation we covered lessons at Drexel from Michael Milken, Apollo’s origin story from a cold call from France, why AI could outgrow venture equity, and Apollo’s “play to win” culture.

We also connected over our shared belief that “Opportunities live between fields of expertise.”

This was really fun, hope you enjoy! cc @apolloglobal

a16z@a16z

Financing the Global Industrial Renaissance with Apollo CEO Marc Rowan

Marc Rowan is CEO of Apollo Global Management, one of the most important financial institutions and the largest provider of retirement income in the world. In this conversation, he joins a16z's David Haber to discuss the story of Apollo, the state of public and private markets, how the AI revolution will be financed, and more.

00:00 Intro 00:52 Drexel, Milken & the origins of "clean sheet thinking" 04:55 The Apollo origin story: From unemployed to $6 billion 08:46 How Apollo became a trillion-dollar firm 13:00 Permanent capital, origination & why assets are the scarce resource 16:08 Democratizing private markets: Daily pricing & new capital channels 22:04 Where venture meets credit: Financing the industrial renaissance 30:01 AI, enterprise software & which jobs will be replaced or enhanced 38:52 Moral leadership: UPenn, merit & doing right over easy 46:02 Apollo's culture: Playing to win & building to outlast the founder

7dViews 52.2KLikes 208Bookmarks 142