Bill Ackman: The Biggest Fight of His Life

Ackman is transforming Howard Hughes into an insurance-driven "modern Berkshire" while warning AI has sharply raised disruption risk even for dominant incumbents.

• Family crisis drives new venture: Ackman's daughter Lucy suffered a brain hemorrhage from an undiagnosed arterial venous malformation; he's building a brain rehab, recovery, and longevity institute on a 3.4-acre Manhattan site bought within 60 days.
• Venture bubble flagged: Ackman describes preemptive rounds where a company raised at $400M then $1B valuations within weeks, and cites a Series A at a $5B pre-money valuation.

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