The Brattle Exchange

Brattle Principals Dr. Coleman Bazelon [https://www.brattle.com/experts/coleman-d-bazelon/] and Dr. Paroma Sanyal [https://www.brattle.com/experts/paroma-sanyal/] dive into the world of spectrum auctions in this episode, offering a comprehensive look at the intricacies of the auction process. Spectrum, the medium for wireless communications, is accessed by companies through licenses issued by the Federal Communications Commission (FCC). Drawing on her experience at the FCC, Paroma leads an in-depth discussion on how these auctions work and what they mean for the industry. Coleman then details the auction process and the shift from earlier methods, such as political favors and lotteries, that has led to a more efficient and transparent process. The conversation also covers the FCC’s role in auctions, auction strategies, how clients prepare for bidding, insights into auction dynamics, including strategies like “parking,” and the importance of Congressional Budget Office (CBO) scoring. Coleman and Paroma also reflect on future bands for auction, the legislative landscape impacting the FCC’s authority, and the novel idea of establishing a “spectrum court” to streamline spectrum management. The opinions expressed are those of the speakers and do not necessarily reflect the views of their employer or its clients. This podcast is for general information purposes and is not intended to be and should not be taken as legal advice.

Brattle Principal Shastri Sandy [https://www.brattle.com/experts/shastri-sandy/] hosts a conversation with Senior Litigation Specialist Ethan Moore [https://www.linkedin.com/in/ethanmoore/] and Principal Rafael Klotz [https://www.brattle.com/experts/rafael-klotz/] to explore the intersection of generative artificial intelligence (GenAI) and bankruptcy. The conversation begins with an overview of GenAI – what it is, how it works, and how it powers technologies like ChatGPT and DALL-E. Ethan provides insight into how GenAI contrasts with traditional AI and details its exciting potential as well as concerns over accuracy, ethics, and legality. Rafael, meanwhile, highlights generative AI’s transformative role across industries – from tech and marketing to manufacturing and healthcare – and notes the particularly rapid adoption compared to previous technologies. The group then delves into risks associated with GenAI, including copyright lawsuits, ethical issues, and financial challenges. The episode wraps up with a consideration of regulatory landscapes and the potential for AI-specific copyright laws, emphasizing the need for firms to navigate these emerging economic challenges. The opinions expressed are those of the speakers and do not necessarily reflect the views of their employer or its clients. This podcast is for general information purposes and is not intended to be and should not be taken as legal advice. Timestamped Overview 04:27 Introduction 08:26 AI Transforming Multiple Industries 11:16 Generative AI's Rapid Adoption 14:16 Generative AI's Legal Risks 17:02 Monetization Challenges in AI Tools 22:14 Legal Challenges of AI Content Ownership

Ryan Chapman [https://www.linkedin.com/in/ryandanielchapman/], Brattle Senior Research Analyst, and Sean Flaim [https://www.linkedin.com/in/seanflaim/], Senior Attorney at the US Department of Health and Human Services, delve into the intersection of antitrust and artificial intelligence (AI) in this episode. The pair discuss topics from Ryan’s recent article “Antitrust in the Age of AI,” which – published by the American Bar Association’s Amplify – explores if the consumer welfare standard can address the rise of generative AI. Sean, with his extensive background in litigation and antitrust policy, poses pressing questions on the implications of AI on competition. The episode touches on the distinctions between generative and predictive AI, the impacts of AI-driven personalization and pricing strategies, and the potential for market power to impact innovation. They also discuss AI’s structural effects on the economy, including acquisition strategies and labor markets, while highlighting the pro-competitive benefits AI might bring by lowering technical barriers and aiding regulatory efforts. The link to the article mentioned in the podcast can be found here [https://www.brattle.com/insights-events/publications/brattle-analyst-examines-antitrust-standards-in-the-age-of-ai-in-recent-article/].   The opinions expressed are those of the speakers and do not necessarily reflect the views of their employer or its clients. This podcast is for general information purposes and is not intended to be and should not be taken as legal advice.

In this episode of The Brattle Exchange, Johannes Stroebel [https://www.brattle.com/experts/johannes-stroebel/], the David S. Loeb Professor of Finance at NYU Stern School of Business and Director of the Climate Finance Initiative, joins Brattle Senior Associate Bennet Berger [https://www.brattle.com/experts/bennet-berger/] to delve into the intersections of real estate economics, discount rates, and climate risk. Bennet and Johannes cover several topics within Johannes’ extensive and innovative research background, from analyzing asymmetric information in the housing market – which he discussed in a 2016 Brattle Prize-winning paper – to his work on long-term discount rates and how they impact cost-benefit analyses involving investments in climate risk adaptation. The pair also discuss some of Johannes’ recent work on the extent to which house prices are affected by climate risk. Johannes shares his findings that the price discount for housing that is exposed to climate risk may be larger during periods when there is increased attention on climate risk. Learn more about The Brattle Group Prize in Corporate Finance and the prize-winning papers here [https://www.brattle.com/prize/]. The opinions expressed are those of the speakers and do not necessarily reflect the views of their employer or its clients. This podcast is for general information purposes and is not intended to be and should not be taken as legal advice.

In this episode of The Brattle Exchange, Principal Dr. Shastri Sandy [https://www.brattle.com/experts/shastri-sandy/] welcomes Dr. Luigi Zingales [https://www.chicagobooth.edu/faculty/directory/z/luigi-zingales], an expert in corporate governance, white-collar fraud, and financial economics. Luigi is a Professor of Entrepreneurship and Economics at the University of Chicago’s Booth School of Business; he was Shastri’s dissertation chair while Shastri was completing his PhD and MBA at Booth. Their conversation spans diverse topics, including Luigi’s groundbreaking research in corporate governance and fraud, the complexities of capital allocation, and the alignment of corporate social responsibility and economic activities. Luigi explores the tension between shareholder value maximization and welfare maximization – challenging conventional norms in corporate governance – and discusses his role hosting the University of Chicago podcast Capitalisn’t [https://www.capitalisnt.com/], where he seeks to simplify complex economic topics to educate a broader audience. Luigi also discusses his current research interest in improving corporate governance, and reducing company overreach through representative shareholder assemblies making informed stock voting decisions. Learn more about The Brattle Group Prize in Corporate Finance and the prize-winning papers here [https://www.brattle.com/prize/]. The opinions expressed are those of the speakers and do not necessarily reflect the views of their employer or its clients. This podcast is for general information purposes and is not intended to be and should not be taken as legal advice.