Vanguard holds and manages index funds and are, broadly speaking, not active managers. Apollo is a sophisticated, active capital market participant|manager.
replyI mean, I'd assume this deck was trying to sell something. But the relevant comparison is to stonk-bros on HN LARPing as hedge fund managers, not Vanguard.
replyWhich, to be fair, Vanguard has earned a good deal of trust from me on the passive investment side of the equation, although I don't think it's meaningful to make it linearly proportional to the total size of their managed assets? I'm not even sure how I'd operationalize that in reality.
Having actual skin in the game on getting an answer right is generally a sign of credibility, though.
That said, without context I'm not really drawing any conclusions from this.