Everyone has ChatGPT. Almost nobody has results.
That's the verdict from Spencer Reich, who ran money for Julian Robertson at Tiger Management and then left hedge funds to join an AI startup years before AI was on anyone's radar. Today he advises hedge funds, private equity firms, banks, and family offices on making AI actually work inside their businesses.
The tools are real. The individual productivity gains are real. But the jump from one person using ChatGPT to an entire firm using it is where almost everyone stalls. Spencer explains why that jump is so hard, what the firms getting it right do differently, and where to start tomorrow morning.
We also get into the family office where two of fifteen people were power users and the rest had never opened a chat window at work, why "aren't we all going to get the same output" is the wrong fear, and what a firm looks like once AI is woven through the workflows instead of bolted on.
And there's a leadership thread that has nothing to do with technology. Spencer spent years reporting to Julian Robertson, and he tells the story of hearing "that is the stupidest idea I have ever heard" on one of his first pitches, and what it taught him about conviction, preparation, and staying calm when a trade goes against you.
Key takeaways:
- The gap isn't the model. It's the workflow, the data, and whether leadership backs the effort.
- Start with one low-hanging workflow you can build in a day.
- 99% isn't good enough in a regulated firm.
- AI doesn't replace the analyst. It gives a good analyst another window on the work.
Spencer Reich is founder and CEO of The SER Group. He was previously a portfolio manager at Tiger Management and Senior Partner and CRO at Boosted.ai. Wharton MBA, Duke graduate.
The SER Group: www.thesergroup.com
Spencer on LinkedIn: www.linkedin.com/spencer-reich
In The Harbor is hosted by Jason Johns with co-host Sean Ritchlin. Sponsored by Diag Partners, the staffing and recruiting firm we use at Rock Harbor: diagpartners.com