How does Brookfield make big investments and decide which risks aren’t worth taking? Connor Teskey, CEO of Brookfield Asset Management, joins Shane Parrish to explain the thinking behind a firm managing over $1 trillion. Recorded the very day Connor stepped into the CEO role, this conversation goes inside Brookfield’s approach to investing, capital allocation, and risk management. He explains why the firm starts with downside protection, why waiting for certainty can cost you opportunities, and how access to capital becomes an advantage during market downturns. We also explore Brookfield’s bet on AI infrastructure—from data centers to the power behind them—and the culture that gives young talent real responsibility early. Connor shares lessons from working with Bruce Flatt and explains why, at Brookfield, a big win is a cue to get back to work. In this episode: - The “90% rule” for making decisions without perfect certainty - Brookfield’s approach to AI infrastructure, data centers, and energy - How long-term contracts and financing help manage risk - Why liquidity matters when markets turn - Lessons from the Westinghouse and Oaktree investments - Identifying young talent and developing future leaders - Why Brookfield skips the victory lap Subscribe to The Knowledge Project for conversations that help you think clearly and make better decisions. Learn more at: https://fs.blog/knowledge-project-podcast/connor-teskey/ Thank you to the sponsors for this episode: Granola AI: The AI notepad for people in back-to-back meetings. Get 3 months free at https://www.granola.ai/shane Check out the Granola Notes for this episode: https://notes.granola.ai/t/b0c2c94e-a330-4f0f-a62d-beb3c946a539-009c2hma The League: Download The League App today and find your perfect match! https://click.theleague.com/qmhm/0vdzsmj5 Shopify: Upgrade your selling today at https://shopify.com/knowledgeproject Follow Connor Teskey: LinkedIn: https://www.linkedin.com/in/connor-teskey-67931326b/?originalSubdomain=uk⁠ * Note: ‍Shane and guests may hold positions in assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. Nothing in this conversation should be considered investment advice, financial guidance, or a recommendation to buy or sell any security. Always do your own due diligence or consult with a qualified financial advisor before making investment decisions.  *Shane Parrish* Instagram: https://www.instagram.com/farnamstreet/ X: https://x.com/ShaneParrish LinkedIn: https://www.linkedin.com/in/shane-parrish-050a2183/ Books: https://fs.blog/books/ Website: https://fs.blog/ Newsletter: http://fs.blog/newsletter *The Knowledge Project* is a show featuring in-depth conversations with the top CEOs, investors, and business leaders to uncover the timeless principles that drive success. Learn more at https://fs.blog/podcast #investing #artificialintelligence #podcast