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the MDs want the same amount of work done but are totally clueless about how it gets done, the analysts are now empowered to complain, leaving the VPs/directors as the bagholders: globalcapital.com/article/2eshop…

Balyasny to be taught lesson about what happens when Apollo has locked up all the liens: on.ft.com/44vJ78n

paper towels + paper FT, what else does the modern New York City man need?

the 3G boys knew

Ron Chernow probably spent, like, a decade on Twain book and gets this lede in NYT review. No hope for the rest of us writers. ☠️☠️☠️ nytimes.com/2025/05/13/boo… (h/t Bryan Curtis)

low key feels like 23andme outcome is a huge victory for American corporate law- independent directors reject Anne Wojcicki sweetheart go-private offers and put company in ch 11 where it runs open auction and sells company clear of liabilities resulting in blowout price:

uhh the manufactured default here is ManU winning the game: Being bad at football COULD save Man United £726mn on.ft.com/4mq0Q7s

last thing you see before the collateral leaves the box:

great to have a KKR and JPM guy in charge of social security:

seems like an esoteric fight but a lot of PE-backed insurers have gorged on private credit whose IG ratings are now being scrutinised: on.ft.com/43oWswV

who got LBO model instruction manual as graduation gift this year? on.ft.com/3ShPqVP

baggy suit absolutely a tribute to Wall Street intern season starting this week:

thinking about the zoomer Cravath associate who got to explain the indemnification of the reps and warranties to Hailey:

1MDB is an incomprehensible scandal and GS, Lloyd and DSol skating is both shocking and completely unsurprising: Former Goldman Sachs banker sentenced to two years in prison for 1MDB role on.ft.com/3FvNfer

NEW: 23andMe auction not over yet. Anne Wojcicki says in new filing she can pay at least $280mn and now has help of unnamed Fortune 500 company to beat the $256mn that Regeneron signed up last month. Debtor says it seeks to reluctantly reopen bidding: ft.com/content/6dd8ad…

It’s ok to take a week off from your GS ‘pls fix’ job if you Monday qualified for PGA Tour event: