Breakneck growth for private equity and credit has led to worries of overheated dealmaking. In this episode of The Big View, Bain Capital Managing Partner David Gross tells Jonathan Guilford about what the industry did right and wrong, and where it might go next around the globe.

OpenAI saw off ⁠Elon Musk’s ​legal challenge to ​its pivot from non-profit to private company. Yet ​its original ​open-source philosophy still threatens ‌the $852 ⁠bln firm. Data security and high costs may ​topple ​proprietary ⁠AI models – with bad ​consequences for sky-high ​valuations.

The Iran war ‌has pushed up fuel prices and hit demand for local short-haul flights, threatening carriers’ profits. Yet resilient ​US stock markets and commentary from ​Delta suggest wealthy stateside travellers will keep ⁠splashing out. It’s a tailwind for ​the likes of $25 bln IAG.