The dominance of Silicon Valley in the tech industry

The growth of tech startups in Berlin and Paris

Fiscal spending and geopolitical tensions

Trade alliances and technological advancements

They can be both competitors and partners

They have a positive impact on the economy

JPMorgan Chase Chairman and CEO Jamie Dimon comments on the health of the technology IPO pipeline, calls AI “a living, breathing thing,” and explains his confidence in the firm being prepared to handle a potential worst-case scenario of interest rates rising to 8%. He speaks with Emily Chang from the sidelines of the JPMorgan Tech Starts Leadership Forum on "Bloomberg Markets."

#business #bank #stockmarket #fed #bloomberg #economy #ai 

00:00 hello
00:50 Tech IPOs
3:30 Dimon on AI
6:00 Health of the Consumer
9:00 interest rates

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So we just saw a few tech companies go public.

I think it's open for now for different types of companies.

But you know you see IPO markets like an accordion.

I think there are like 400 plus deals in 21 and 40 and 22 and I think something like 50 or 60 this year.

What help you evaluate whether I go public the value of cash flows or earnings and cash council but more than account before.

Given we're in London you don't see the same wealth of tech companies that you see in Silicon Valley.

They want more big star tech companies here.

I think it's the I'd look at the way around.

I recently came from Boise and other places.

But so the DASP is actually moved overseas.

You know we're the leader of taking them public here.

And obviously you've already you always had it in China a little bit.

India still it's not in Europe is not quite the United States but the fact is here is a very good thing.

JP Morgan's tech footprint has gotten even bigger.

Now that we've seen clients flood out of S.P.B.

How big is the opportunity to be the new incumbent bank for startups and VCs.

And how will you Jamie Dimon manage the risk differently.

Yeah I think first of all we didn't want to benefit in the world by that kind of thing happening.

So it wasn't good for banks or good for us.

Having said that when that happened you know we had people working around the clock literally to open those accounts.

Saturday, Sundays, through the night to onboard these accounts and help them through it.

I think the biggest difference Silicon Valley Bank, before I get to First Republic, is they did a great job at some of this stuff.

So obviously there's certain things they did on a macro level which weren't right.

They did a lot of things on a micro level that were right.

How they serviced them, they serviced them locally.

So we have unbelievable products and services to bring to them.

Digital, consumer, subscription lines, financing, globality, research, you name it.

But we have to deliver it to them in a way they actually like it and they want it, which is what Silicon Valley Bank did.

If you speak to a bunch of people here you hear them talk about you know we're adding.

We just got a whole bunch of new space in Palo Alto.

We hired John Cheney's 1 of the top people.

Silicon Valley Bank organized around the innovation economy.

I just want to make sure they're happy with us a year from now, not just today.

So you know, and this happened years ago.

Would a bank lend to a non-revenue company.

So we've learned how you can do that when you do that.

It's the then the their invest companies.

It's the investing companies managements.

You've got a top notch group investigating A.I.

What's the next level of finance you think A.I.

Yeah I think the most important thing is that it's AI is real.

We already have thousands of people doing it.

Manuela Veloza from who ran Carnegie Mellon machine learning.

So people want to answer what's going to do.

They're gonna be all different types of models and different types of tools and technology.

But the way to think about for us is every single process.

So errors trading hedging research every app every database you can be applying a.I.

You know AI is doing all the equity hedging for

It's no taking while you're talking to someone.

And while taking notes and actually say to you that you know here's the thing of interest the climate.

But I, look folks, people have to take a deep breath, okay?

Your children are going to live to 100 and not have cancer because of technology.

And literally, they'll probably be working 3 and a half days a week.

So technology's done unbelievable things for mankind, but you know, planes crash, pharmaceuticals get misused, there are negatives.

This 1, the biggest negative in my view is AI being used by bad people to do bad things.

You know Henry Kissinger talks about warfare.

But you know the fact and I do think we eventually have legal guardrails around.

It's kind of hard to do because it's new but it will add a huge value.

Morgan if it replaces jobs and we hope to redeploy people.

At First Republic, we've offered jobs to 90% of the people, they accepted.

But we also, we've told them, some of those jobs are transitory, But we hire 30,000 people a year.

So we expect to be able to get them a job somewhere local in a different branch or a different function if we can do that.

So and we'll be doing that with any dislocation that takes place as a result of AI.

I want the Jamie Dimon forecast on the broader economy.

First it was hurricanes and then it was storm clouds in your annual letter.

You guys have consistently got this wrong.

5000000000000 dollars was pumped in fiscally.

They still have more money than pre covid.

And then the people talking about deterioration credit is not deteriorating credit card all time highs not inflation adjusted or GDP adjusted or income adjusted.

We think there's normalizing and corporate credit has been quite good.

And all the data is a little distorted because of covid and things like that.

When you ask the question about a forecast and I don't make forecast I look out there and say what are the range of outcomes

So instead the storm storm clouds dissipate.

There are 2 of them that are different than other things.

And I honestly I spent a lot of time guessing about the economy and that that to me is the sunnier rainier.

We run the company to serve clients through thick and thin.

That's what we do to serve governments to satisfy regulators.

But there are 2 things which are extraordinary today which may have different outcomes and think of them as storm clouds.

We don't know if they're going to hit when they're going to hit what they're going to do.

So I'm not predicting that but I'll tell you what I worry about.

So 1 is the fiscal money being spent is so big largest in peacetime ever.

America and kind of around the world with already very high deficits and QT we've never had.

So I know some people think QT will be uneventful.

And then you've got and then all the long term fiscal things are kind of inflationary.

You know oil prices certain commodity prices the green economy you know the restructuring of trade.

I see it's adding to inflation not subtracting inflation.

I don't think inflationary will be that, you know, keep on coming down.

But the biggest dormant cloud is geopolitical.

So long 600 miles 500 thousand people killed.

It's going to affect all global relationships in America and China trade alliances.

We don't know how it's going to start either.

So I just put those 2 things is I keep a close eye on.

And then how it affects the economy is different.

And what I've been talking about that is I just tell people be prepared for higher rates and slower

You know which I when I talk to my board I say yeah it can't go to 7 percent.

Are there factors that would drive it higher than you know where it is today.

You know 4 and a half 4 6 or 4 7 over the 10 year bond.

So and and then the worst case is stagflation.

You know higher rates because you have a booming economy and there's a lot of competition for capital.

It's not the same thing as that inflation.

What are what are the ripple effects of the stress of that 7 percent rates on business on your growth.

Well I'm not worried about JP Morgan shaping world.

I mean that's I mean that's that risk management is not the same thing as guessing the future.

What risk management look at the range of potential outcomes and be able to see yourself.

You know every company's got different exposures you know input prices output prices.

So but I think we don't know the effect of these things the economy.

We may have a mild recession may have a harder recession.

Obviously there are potential bad outcomes.

The worst 1 would be economically is stagflation.

And obviously if that happens you're going to see a lot of people struggling.

When I say geopolitical that's the big 1.

It's the it's the it's the thread from Ukraine oil and gas food migration.

All our relationships the most important 1 being China.

That is the most important for the future of the world.

And in fact, it's very hard to see really positive outcomes with China until the Ukraine war is resolved.

Hopefully, whether Ukrainians could say they have a victory of some sort.

You've said you're worried about another Trump presidency.

And I think that we need to explain to people why this is so important for the world.

And so there's a little bit of this America first.

And no American president is going to say America second.

But what we need to explain is why Ukraine is important to us and why American security relies on global security and why our allies rely on that.

And if they can't rely on America they will have to rely on someone else.

Bob Gates writes in his book The Exercise of Power about the symphony of power.

All the soft things, not the military, which we've overused, but diplomacy, development finance, education, communication, and obviously economic, trade, investment, all those things, and I think we need a better job than that.

Do you have a message for anyone in Congress?

I'm grateful they came up with a solution.

Democracies, by their nature, mean compromise.

And there are a lot, when I go to Washington, you see on the press all the time the bad parts.

There are also some great Congress folks, great senators, who want to get things done in the interest of the United States.

Of course you know 40 days 45 days from now.

I've known him for many years And he's got a tough hand.

Regulators have proposed new capital rules that banks have said will make it tougher for Americans to get a mortgage.

But I'm curious when you look across the firm what businesses are going to have the biggest impact.

First of all it's a it's 100 page a thousand pages long.

So you have to go by product by service by country by cross border by type.

So you know we're you know I don't think it's all the right stuff.

I don't I don't think it's very comprehensive or well thought through, but let them do what they want at this point.

So you may not know if you're an American.

We have 30 percent more capital than European banks.

What happened to the international requirements.

Like when we saw like international level playing fields and all stuff like that.

When you get into the specifics it really matters how the ultimate rules about mortgages and small business loans etc.

In general you know it makes like I don't like about it.

For example it punishes diversification operating risk capital and G.S.

And diversification is 1 of the true free lunches for a bank that protects it.

And I just know we're going to be responding.

Hopefully it'll be modified and thoughtfully done for international purposes.

And mostly you know America's got the best financial system world's ever seen.

And that includes hedge funds and private equity and private capital things like that.

But this is you know I said that private equity hedge funds are dancing in the streets.

And this time they're being quite public about it because this is going to push a lot of stuff out of banking system.

And if that's what the regulators want so be it.

We've gone from 7300 public companies in 1996 to 4500 today.

Did you want a lot of credit to move private.

The biggest tech companies prop up a huge chunk of the S&P is big tech too big to fail.

You know, I think in any industry, when you say too big to fail, which I've lost touch with what that really means anymore because remember, car companies are bailed out and these things are bailed out and, you know, I don't understand.

If the regulars don't want a bank to ever fail again then we should do ABCD and E.

I think Dodd-Frank actually accomplished most of the goals which is dramatically reduce the risk create liquidity capital stuff like that.

So and big tech you've got to be very specific.

You know, sometimes companies misuse their position, and sometimes they don't.

Sometimes regulators capture it, and sometimes they don't.

I've been writing about big tech going into our business.

We've got FinTech, but we also have Big Tech.

And they will embed payment systems in there.

Some are going to white label banks kind of what Apple did.

I would be against unfair use of their position to dominate us in a business.

Well Apple is going deeper into financial services.

So they have they have a tough competitor.

They you can put money in a basic you know markets but white labeled checking account credit card.

But I'm very used to partnering and competing with lots of people.

I don't think it's an existential threat but I think if we were complacent about it.

Jamie Diamond chair and CEO of JP Morgan.


Speaker 0: So we just saw a few tech companies go public. Instacart arm Clavio. What's happening in the markets. Are we back or is this a blip.

Speaker 1: I think it's open for now for different types of companies. But you know you see IPO markets like an accordion. I think there are like 400 plus deals in 21 and 40 and 22 and I think something like 50 or 60 this year. Obviously interest rates change a lot. What help you evaluate whether I go public the value of cash flows or earnings and cash council but more than account before.

But for now it's open. Markets are healthy. You know the economy is still OK. So it's open. Maybe not for everybody but it's open.

Speaker 0: Given we're in London you don't see the same wealth of tech companies that you see in Silicon Valley. They want more big star tech companies here. Why haven't we seen that.

Speaker 1: I think it's the I'd look at the way around. U.S. Was the center of tech. You know not just Silicon Valley. It's all over America.

I recently came from Boise and other places. It's staggering. But so the DASP is actually moved overseas. You have some. I was recent in Berlin and Paris.

There are tech startups everywhere now. They're quite good. They're more of a going public. You know we're the leader of taking them public here. So I think it's a great thing.

And obviously you've already you always had it in China a little bit. India still it's not in Europe is not quite the United States but the fact is here is a very good thing.

Speaker 0: JP Morgan's tech footprint has gotten even bigger. Now that we've seen clients flood out of S.P.B. You bought first Republic. How big is the opportunity to be the new incumbent bank for startups and VCs. And how will you Jamie Dimon manage the risk differently.

Speaker 1: Yeah I think first of all we didn't want to benefit in the world by that kind of thing happening. So it wasn't good for banks or good for us. Having said that when that happened you know we had people working around the clock literally to open those accounts. I recently came from a Sequoia thing. I know a lot of the venture capitalists.

Saturday, Sundays, through the night to onboard these accounts and help them through it. And we always were there. We always did OK. I always want to do better. We're going to.

We're adding people. I think the biggest difference Silicon Valley Bank, before I get to First Republic, is they did a great job at some of this stuff. So obviously there's certain things they did on a macro level which weren't right. They did a lot of things on a micro level that were right. How they dealt with the client.

How they serviced them, they serviced them locally. So we have unbelievable products and services to bring to them. Digital, consumer, subscription lines, financing, globality, research, you name it. But we have to deliver it to them in a way they actually like it and they want it, which is what Silicon Valley Bank did. So we're organizing around it.

If you speak to a bunch of people here you hear them talk about you know we're adding. We just got a whole bunch of new space in Palo Alto. We hired John Cheney's 1 of the top people. Silicon Valley Bank organized around the innovation economy. We'll get it right.

I just want to make sure they're happy with us a year from now, not just today. But what about managing risk? That's what we do all day long. For us, it's incremental risk. It's a slightly different kind of risk.

So you know, and this happened years ago. Would a bank lend to a non-revenue company. Well the answer 20 years ago was 0. But we did Facebook. So we've learned how you can do that when you do that.

But again the risk is it's not the risk. It's the venture capital company. It's the venture capital partners. It's the then the their invest companies. It's the investing companies managements.

It's that whole ecosystem. And so we're just organizing around it.

Speaker 0: You've got a top notch group investigating A.I. What are they up to. What's the next level of finance you think A.I. Can unlock.

Speaker 1: Yeah I think the most important thing is that it's AI is real. We already have thousands of people doing it. Top scientists around the world. Manuela Veloza from who ran Carnegie Mellon machine learning. It's a living breathing thing.

So people want to answer what's going to do. It's a living breathing thing. It's going to change. They're gonna be all different types of models and different types of tools and technology. But the way to think about for us is every single process.

So errors trading hedging research every app every database you can be applying a.I. So it might be as a co-pilot. It might be to replace humans. You know AI is doing all the equity hedging for

Speaker 0: us

Speaker 1: for the most part. It's idea generation. It's large language models. It's no taking while you're talking to someone. And while taking notes and actually say to you that you know here's the thing of interest the climate.

All error all customer service. It's a little bit of everything.

Speaker 0: But it is going to replace some jobs.

Speaker 1: Of course, yeah. But I, look folks, people have to take a deep breath, okay? Technology's always replaced jobs. Your children are going to live to 100 and not have cancer because of technology. And literally, they'll probably be working 3 and a half days a week.

So technology's done unbelievable things for mankind, but you know, planes crash, pharmaceuticals get misused, there are negatives. This 1, the biggest negative in my view is AI being used by bad people to do bad things. Think of cyber. You know Henry Kissinger talks about warfare. But you know the fact and I do think we eventually have legal guardrails around.

It's kind of hard to do because it's new but it will add a huge value. And you know for J.P. Morgan if it replaces jobs and we hope to redeploy people. At First Republic, we've offered jobs to 90% of the people, they accepted. But we also, we've told them, some of those jobs are transitory, But we hire 30,000 people a year.

So we expect to be able to get them a job somewhere local in a different branch or a different function if we can do that. So and we'll be doing that with any dislocation that takes place as a result of AI.

Speaker 0: I want the Jamie Dimon forecast on the broader economy. First it was hurricanes and then it was storm clouds in your annual letter. What's the weather now. Is a recession.

Speaker 1: You guys have consistently got this wrong. OK I'm not giving a forecast. I'm trying to. I blame myself. OK.

The U.S. Has been very strong for a while. No surprise. 5000000000000 dollars was pumped in fiscally. You know 3000000000000 a fortune of QE.

And now that's being reversed. The consumer is still in good shape. They're still spending money. They still have more money than pre covid. It's spending down.

Home price gone for 15 years. Asset price have gone for 15 years. They're in pretty good shape. And then the people talking about deterioration credit is not deteriorating credit card all time highs not inflation adjusted or GDP adjusted or income adjusted. And yeah it's deterioration.

We think there's normalizing and corporate credit has been quite good. So you have a strong economy. That's the here now. And all the data is a little distorted because of covid and things like that. When you ask the question about a forecast and I don't make forecast I look out there and say what are the range of outcomes

Speaker 0: from hurricane to storm clouds.

Speaker 1: No I would put as several storm clouds. I said it. But I said hurricane. I was correcting. So instead the storm storm clouds dissipate.

I said no that 1 may be a hurricane. We don't know what it is. Here's what they are. There are 2 of them that are different than other things. So we always have.

I don't worry about the weather. And I honestly I spent a lot of time guessing about the economy and that that to me is the sunnier rainier. I don't worry about that. We run the company to serve clients through thick and thin. That's what we do to serve governments to satisfy regulators.

And that that's all weather. But there are 2 things which are extraordinary today which may have different outcomes and think of them as storm clouds. We don't know if they're going to hit when they're going to hit what they're going to do. OK. So I'm not predicting that but I'll tell you what I worry about.

So 1 is the fiscal money being spent is so big largest in peacetime ever. America and kind of around the world with already very high deficits and QT we've never had. So I know some people think QT will be uneventful. I'm not so sure. I admit I expect volatile markets.

And then you've got and then all the long term fiscal things are kind of inflationary. You know oil prices certain commodity prices the green economy you know the restructuring of trade. You name it. I see it's adding to inflation not subtracting inflation. I don't think inflationary will be that, you know, keep on coming down.

It may not. And therefore, rates may go higher. But the biggest dormant cloud is geopolitical. It's Ukraine, the humanitarian crisis. You know, it's a war not far from here.

So long 600 miles 500 thousand people killed. It's nuclear blackmail. It's going to affect all global relationships in America and China trade alliances. We don't know how it's going to start either. So I just put those 2 things is I keep a close eye on.

And then how it affects the economy is different. And what I've been talking about that is I just tell people be prepared for higher rates and slower

Speaker 0: 7 percent. Are we really going there. And how I don't know

Speaker 1: when I say 5 percent. They said we go in there. Yes possible. You know which I when I talk to my board I say yeah it can't go to 7 percent. The answer is yes.

Are there factors that would drive it higher than you know where it is today. You know 4 and a half 4 6 or 4 7 over the 10 year bond. Now yes it's supply and demand. Kapush I. Yes I'm just saying be prepared for it.

So and and then the worst case is stagflation. You know higher rates because you have a booming economy and there's a lot of competition for capital. It's not the same thing as that inflation.

Speaker 0: What are what are the ripple effects of the stress of that 7 percent rates on business on your growth.

Speaker 1: Well I'm not worried about JP Morgan shaping world. We are prepared. We can handle 7 percent. We can handle 2 percent again.

Speaker 0: 8 percent.

Speaker 1: Yeah we can handle that too. I mean that's I mean that's that risk management is not the same thing as guessing the future. What risk management look at the range of potential outcomes and be able to see yourself. We can have this. We can have this.

We don't expect it. And we can handle the in-between. If you bet your company on 1 outcome. So I think all companies do that. You know every company's got different exposures you know input prices output prices.

Some industries don't matter. Some it's the price of mozzarella. So what's your business. Your business is different. So but I think we don't know the effect of these things the economy.

So they may we may have a soft landing. We may have a mild recession may have a harder recession. Obviously there are potential bad outcomes. The worst 1 would be economically is stagflation.

Speaker 0: Right.

Speaker 1: We have low growth high interest rates. And obviously if that happens you're going to see a lot of people struggling.

Speaker 0: Where's China on the list of risks.

Speaker 1: When I say geopolitical that's the big 1. It's the it's the it's the thread from Ukraine oil and gas food migration. All our relationships the most important 1 being China. That is the most important for the future of the world. And obviously Ukraine is affecting it.

And in fact, it's very hard to see really positive outcomes with China until the Ukraine war is resolved. Hopefully, whether Ukrainians could say they have a victory of some sort.

Speaker 0: You've said you're worried about another Trump presidency. How worried?

Speaker 1: I don't know if I've said that. I'm hoping the American public... Look, we need good American leadership. And I think that we need to explain to people why this is so important for the world. And so there's a little bit of this America first.

And no American president is going to say America second. But what we need to explain is why Ukraine is important to us and why American security relies on global security and why our allies rely on that. And if they can't rely on America they will have to rely on someone else. And so I just think it's very important. Bob Gates writes in his book The Exercise of Power about the symphony of power.

All the soft things, not the military, which we've overused, but diplomacy, development finance, education, communication, and obviously economic, trade, investment, all those things, and I think we need a better job than that.

Speaker 0: We just avoided another U.S. Government shutdown. Now there's talks of a McCarthy ouster. Do you have a message for anyone in Congress?

Speaker 1: Look, we need good policy makers. A shutdown is a bad idea. I'm grateful they came up with a solution. Democracies, by their nature, mean compromise. That's what a democracy is.

And there are a lot, when I go to Washington, you see on the press all the time the bad parts. There are also some great Congress folks, great senators, who want to get things done in the interest of the United States. And I'm glad they did this particular 1. Of course you know 40 days 45 days from now. Kevin McCarthy is speaker of the House.

I wish him the best. I've known him for many years And he's got a tough hand. He's he's he's got a tough hand. He's doing OK so far.

Speaker 0: Regulators have proposed new capital rules that banks have said will make it tougher for Americans to get a mortgage. But I'm curious when you look across the firm what businesses are going to have the biggest impact. Break it down.

Speaker 1: First of all it's a it's 100 page a thousand pages long. So you have to go by product by service by country by cross border by type. And then there's operational risk thing. So you know we're you know I don't think it's all the right stuff. I don't I don't think it's very comprehensive or well thought through, but let them do what they want at this point.

And nor is it international. So you may not know if you're an American. We have 30 percent more capital than European banks. The way it's currently constructed. What happened to the international requirements.

Like when we saw like international level playing fields and all stuff like that. When you get into the specifics it really matters how the ultimate rules about mortgages and small business loans etc. In general you know it makes like I don't like about it. For example it punishes diversification operating risk capital and G.S. And diversification is 1 of the true free lunches for a bank that protects it.

And I don't understand why they do that. And I just know we're going to be responding. Hopefully it'll be modified and thoughtfully done for international purposes. And mostly you know America's got the best financial system world's ever seen. And that includes hedge funds and private equity and private capital things like that.

But this is you know I said that private equity hedge funds are dancing in the streets. And this time they're being quite public about it because this is going to push a lot of stuff out of banking system. And if that's what the regulators want so be it. Is that good for America. I don't know.

We've gone from 7300 public companies in 1996 to 4500 today. Is that we wanted. It should've been 14000. Did you want a lot of credit to move private. You know maybe they did.

And then they accomplished their goals.

Speaker 0: The biggest tech companies prop up a huge chunk of the S&P is big tech too big to fail.

Speaker 1: I think that's a too broad a question. You know, I think in any industry, when you say too big to fail, which I've lost touch with what that really means anymore because remember, car companies are bailed out and these things are bailed out and, you know, I don't understand. They should ask what they want. If the regulars don't want a bank to ever fail again then we should do ABCD and E. If that's the rule.

I didn't think that was the goal. I think Dodd-Frank actually accomplished most of the goals which is dramatically reduce the risk create liquidity capital stuff like that. So and big tech you've got to be very specific. You know, sometimes companies misuse their position, and sometimes they don't. Sometimes regulators capture it, and sometimes they don't.

But they're powerful, you know? And we have to deal with that. I've been writing about big tech going into our business. We've got FinTech, but we also have Big Tech. And they will embed payment systems in there.

Some are going to white label banks kind of what Apple did. You know they have the right to do that. I'm not against that. I would be against unfair use of their position to dominate us in a business.

Speaker 0: Well Apple is going deeper into financial services. Do you worry about the Bank of Apple.

Speaker 1: I wrote about it. I wrote about it like 5 years ago. You know how worried you are. Like what is the bank. Well I'm going to compete.

So they have they have a tough competitor. But you know they hold money move money. They you can put money in a basic you know markets but white labeled checking account credit card. You know all these things. Yeah they're a form of a competitor.

You know we also partner with them. But I'm very used to partnering and competing with lots of people.

Speaker 0: Existential threat.

Speaker 1: I don't think it's an existential threat but I think if we were complacent about it. Yes.

Speaker 0: Jamie Diamond. We're here to talk about tech. I'll see you on stage. Jamie Diamond chair and CEO of JP Morgan.

The interview with Jamie Dimon, chair and CEO of JP Morgan, covers a wide range of topics including the use of AI in finance, managing risk, the potential for a recession, and the impact of geopolitical events on the global economy. Dimon discusses the importance of American leadership, the potential for a Bank of Apple, and the need for good policy makers in Congress. He also emphasizes the need for diplomacy, development finance, and communication in international relations. Overall, the interview provides insight into Dimon's perspectives on the current state of the economy, the role of technology in finance, and the importance of global security and cooperation. make this longer

how was the way of interviewee and interviewer?

The noise that may have occurred during the communication process could be the use of technical jargon and industry-specific terms that may not be easily understood by the general public. This could create confusion and hinder effective communication. can you specify the technical jargon used 

can you give me a 13 line insight about this interview

Types and quality of questions (variety, recency, relevance…etc)

A brief about the history and activities of IPMorgan and its organizational culture  Jamie Dimon's Bio (12 to 15 points)

what noise may have occurred during the communication process

A brief about the history and activities of IPMorgan and its organizational culture 

The interview with Jamie Dimon, chair and CEO of JP Morgan, provides a comprehensive overview of various topics including the use of AI in finance, managing risk, the potential for a recession, and the impact of geopolitical events on the global economy. Dimon discusses the importance of American leadership, the potential for a Bank of Apple, and the need for good policy makers in Congress. He also emphasizes the need for diplomacy, development finance, and communication in international relations. Dimon's perspectives on the current state of the economy, the role of technology in finance, and the importance of global security and cooperation are evident throughout the interview. Overall, Dimon's insights offer valuable perspectives on the intersection of technology, finance, and global affairs, highlighting the complexities and interconnectedness of these key areas.make this longer

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JPMorgan CEO Jamie Dimon on IPOs, AI, 3-Day Work Weeks, 8% Interest Rates (Full interview)