Sep 19, 2026 · 42 min
Los Angeles turns Olympic ambition into a financing and AI test
A Goldman M&A Banker Helped Bring the Olympics to Los Angeles
The conversation connects the practical demands of hosting the 2028 Olympics with a broader question about whether today’s AI investment and dealmaking enthusiasm can endure.
- 1Los Angeles is relying on private funding while the federal government handles security for a sprawling 2028 Olympic operation.
- 2Olympic organizers see strong demand for tickets, sponsorships, and media rights, but must manage pricing, access, and logistics.
- 3AI is reshaping M&A workflows and infrastructure spending even as measurable enterprise benefits remain limited and future deal appetite may cool.
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Gene Sykes draws a cautious parallel between the AI infrastructure boom and the late-1990s telecommunications and internet buildout.
The brief
At Future Proof, Goldman Sachs M&A leader and Olympic organizer Gene Sykes moves between two giant systems: the operational demands of Los Angeles 2028 and the speculative force of AI.
Sykes says Los Angeles will use private funding while the federal government handles security, leaving organizers to solve traffic, venues, accommodation, ticketing, and spectator access.
The Olympics’ commercial model depends on strong ticket demand, media rights, and sponsorships, while keeping advertising off the field of play and learning from the World Cup.
The sharpest parallel arrives in AI: Sykes compares today’s infrastructure buildout with earlier technology cycles, while noting that only a small share of companies see measurable earnings impact.
AI may accelerate M&A research and make intellectual property more valuable, but Sykes warns that enthusiasm for transformative deals and favorable market conditions may not last.
Featuring
Gene Sykes
Los Angeles
Goldman SachsListen to the full episode and explore every guest, topic, and moment on PodLume.