December 6, 2023 • 6 min read |
But first, let's make a (big) deal. |
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The recent dealmaking spree is likely only the tip of the iceberg. Wedbush analyst Dan Ives told Matt, "there's going to be a tidal wave of M&A ahead," now that fear over Khan and the FTC squashing deals has mostly subsided. The revelation comes at a perfect time for the industry. Bankers have been desperate to get the M&A market going after an elongated drought. That, coupled with the market predicting significant cuts to interest rates next year, means things could ramp up quickly. And rest assured, bankers aren't interested in nickel-and-dime type deals. Earlier this year, Goldman Sachs was reportedly targeting mega deals — those over $10 billion — as a way to get back on track.
But it's not just the size of deals that'll be worth watching. There could be some interesting tie-ups between large incumbents and the startups that initially set out to disrupt them.
With VC money drying up and an unwelcoming IPO market, late-stage companies might look to be acquired by the companies they once looked to topple. |
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Markets 🔔 Before the opening bell: US stock futures rise early Wednesday, with major indexes on track to end the quarter with big gains |
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L Brian Stauffer/University of Illinois; iStock; Rebecca Zisser/BI |
1. America's smartest AI optimist. It's not Sam Altman, Satya Nadella, or any of the other big names you associate with AI. Instead, our greatest AI visionary is an English professor in Illinois named Ted Underwood. He's convinced that AI will help us all think more deeply and help scholars uncover exciting new truths. 2. Leaked email: Microsoft is shaking up its security organization. The giant has named a new chief information security officer, according to an internal email. Bridgewater's former chief technology officer Igor Tsyganskiy will start his new role on January 1. 3. The mini wave of Amazon employees quitting right now. Leaked internal messages showed that they cited issues like the strict RTO mandate, layoffs, and "lack of respect." One former employee even publicly shared that "the sheer number of AWS resignations in the last week is stunning." |
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Karwai Tang/WireImage; Getty; Compass; Insider |
1. The previously unreported Seattle properties of Jeff Bezos. He injected some serious cash into Seattle's real estate market. But now that he's moving to Miami with fianceé Lauren Sanchez, he leaves behind a mini-empire of eight homes in ritzy Seattle suburbs. 2. Business Insider's fourth cohort of emerging commercial and residential real estate talent. The 20 professionals — all 35-years-old or younger — are making waves across a vast industry. The list of rising stars includes talent from firms like Cushman & Wakefield to startups rethinking old norms. 3. How Mark Cuban forced the biggest US pharmacy to upend its business. CVS just announced a change to how prescription drugs get priced at pharmacies. It has been facing market pressure from new models like Cuban's Cost Plus Drugs. |
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- The fourth Republican presidential debate is tonight. Participants include Ron DeSantis, Nikki Haley, and Vivek Ramaswamy.
- Happy birthday to A Boogie Wit da Hoodie! Giannis Antetokounmpo, Princess Sofia, and Andrew Cuomo were also born on this day.
- Earnings today: Campbell Soup, Chewy, and other companies.
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Martha Stewart's favorite "lazy girl" pasta dish. Her cacio e pepe only needs butter, pepper, and Parmesan or Pecorino. |
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