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Goodwin Hunting

Long before Wall Street rushed for the exits, Diameter Capital co-founder Scott Goodwin warned that A.I. would “ruthlessly eliminate” software companies. Now, amid a market correction, he’s buying the panic.

Scott Goodwin
In Diameter’s fourth-quarter 2024 letter, Goodwin again cautioned that “as A.I. improves, it could lead to a microcycle in software,” noting that “few sectors are more levered” and that “upwards of 30 percent of senior private-credit loans are made to software companies.” Photo: Lionel Ng/Bloomberg/Getty Images
William D. Cohan
May 27, 2026

At the start of his May 12 presentation at the Sohn Investment Conference, the annual finance ideafest held at Lincoln Center, Scott Goodwin, the highly successful co-founder of the hedge fund Diameter Capital Partners, bluntly articulated the central riddle on Wall Street these days: “What the fuck is going on in private credit?”