Employee Equity in the Works

Big cuts are still in play

Fall is here, but we’re up 📈

Friends, Enemies, and VCs

Rate Cut SZN

Book Closed, Legacy Sealed

Apollo Takes On The Banks

DPI is the new IRR

The AI Revolution Continues

The biggest hedge funds are returning cash to investors, ​​OpenAI released an AI model capable of reasoning, ECB cut rates for the second time, and US household wealth rose to a record high.

Fresh Limits on IB Work Hours

JPMorgan capped junior banker work hours, Japan has emerged as a top PE market, Goldman saw another massive M&A payday, bank execs cautioned against optimistic IB expectations, and Ken Griffin bankrolled USMNT's new head coach contract.

Dogs, Cats, and the Economy

Apollo is launching a private credit ETF, Elliott got half of Southwest's board to resign, multi-strat hedge funds are seeing a pullback from investors, Taylor Swift endorsed Kamala Harris, and JPMorgan's CEO succession is Jamie Dimon's top priority.

The Big Debate 🇺🇸

Investors see AI hype masking broader tech weakness, allocators are planning new hedge fund investments, crypto fraud is up big this year, and Trump will go head-to-head vs. Kamala Harris on the debate stage tonight (which will certainly produce some hilarious memes)!