AI Agents Will Upend Investing Even More Than Coding - Frank Long, Coatue

Frank Long of Coatue, a technology investment firm across public and private markets, bets that agents will have an even bigger impact on investing than they did on coding. He frames a hedge fund as a function that takes in outside and inside context and returns what to buy, how much and when, then breaks it into gather, analyze and decide steps. Using Korean-language semiconductor news as a case study, he shows how each step can be run by code, statistics, an LLM or a person, why every one of those choices needs tuning, and why the goal is quality, not automation for its own sake. Chapters: 0:00 Intro 0:52 A hedge fund as a function 1:31 Give agents the same access people have 2:23 Internal context 3:28 Breaking the function into steps 4:59 Case study: Korean news 7:24 Four kinds of runners 9:08 Don't automate for its own sake 9:26 Every choice needs tuning 11:43 What are you hill climbing against? 12:38 The real graph 13:16 Beyond investing Frank Long https://www.coatue.com Join us in SF for the second annual AIE CODE summit: https://aie.codes our last flagship summit of 2026. Applications live now!