Lombard Odier Group

Thank you Michael Strobaek and Clément Dumur at Lombard Odier Group for this very insightful paper on technological revolutions. The paper rightfully reminds investors that technological disruptions might change the economy but that early winners might not be the long term monopolists. Indeed, if we look back at the internet boom of the late 90s and early 2000s, Yahoo! which was founded in 1995 was the initial winner of the new opportunities that the web offered such as searching on this ever growing data base that the internet is. In 2000, Yahoo! had an estimated market share of more than 50% in the search engine space and a market cap of 120b USD. It was THE search engine of the beginning of this century. Google has just been founded two years earlier and had a less than 10% market share. Fast forward 25 years later, Yahoo! has been delisted and has a market share of less than 2% via Bing, whilst Google has a quasi monopoly in search with a >90% market share, ventured in lots of other businesses such as autonomous driving, can partially be considered as a VC fund, and has a valuation of over 4t USD. Hence, betting only on the early winners of a technological revolution does not ensure lasting successes. I would consider prudent to invest broadly in technological revolutions through: - listed markets both via indices (to follow the rise and fall of early winners, and the rise and fall of second or third stage winners through the change in their market cap) and via active funds that will look for emerging trends and niche monopolists for example - and private markets via VC and growth capital funds that focus for example on technology (and probably not only AI) …remembering that technological revolutions often end up being different as initially forecasted as they evolve over time. It is also sensible to consider technological disruptions though the enabler - infrastructure - and user/beneficiary lense. There will be winners in all three categories, but potentially not at the same time. And you? How do you invest? Do you think Google could be displaced by ChatGPT, Claude and the likes? Do you think that Nvidia will be a long term winner or could be displaced by Google’s TPU?

Being recognized as "Best Headquarters" by Monocle is a major achievement for 1Roof and we are really proud to promote the finest corporate architecture at Lombard Odier Group . https://lnkd.in/eZA_hsGs

🚀 Agentic AI is not just a technology shift, it is an organisational shift. 🚀 I had the pleasure of joining a Capgemini & Microsoft roundtable on Agentic AI and the rise of what many now call “Frontier Firms.” A key insight stood out: Agentic AI marks a shift beyond technology. The real differentiator lies in the readiness of organizations to elevate their people alongside it. AI creates durable value when capability, judgment, and responsibility scale at the same pace as technology. 🎓 This is why, at Lombard Odier Group , we have built a dedicated AI training program, developed with our HR and L&D teams, to help our people understand how AI applies to their roles, including working through real use case scenarios, where AI supports analysis, while accountability and final judgment remain firmly human. 🎯 The objective is clear: enable confident adoption, unlock value, and ensure full awareness of both the benefits and the risks as AI becomes part of daily work. 🚀 I am proud to contribute to an AI Acceleration journey guided by one belief: 👉 the advantage will belong to organizations that strengthen human leadership in an AI‑driven world, not those that rely on machines alone. Thank you Hovsep Avagyan , Fabio Moioli , Etienne Grass , Emanuele D' Agati , Martin Weis , Rehouven Libine , Massimo Guarino and Mark Oost for the inspiring discussions and presentations focused on making Agentic AI real and actionable for organizations. #AI #LombardOdier