Aug. 13th, 2020 Bloomberg article The Age of the Everything Banker Is Here: Get Ready for Odd Jobs brings up to the forefront the reality of the IB profession changing landscape. Three months ago I boldly said that up to a third of IB jobs will be lost. People got angry…but…that’s what they always do, don’t they ? Shuffling spreadsheets, the monkey’s job, the copy-and-paste people, there are too many of them. It’s incredible it took a Deep Recession for the clowns at the top to even say something about it. (they haven’t even acted yet; these layoffs and restructuring are yet to come).
PIPEs, SPACs, direct listings…these are not new but they are well on the forefront since the pandemic began.
Heath and tech, that’s where the money is. That’s where the money was before the health crisis, but even more so now.
Ranadive Calls SPACs “Greatest Wealth Creation Opportunity in History”
Bloomberg
Slack and Spotify went public though direct listings…Now AirBnB is scheduled to do it too.
The era of the useless IB “Analyst”, the spreadsheet shuffler, is slowly coming to an end. Only people who are producing, what we like to call “kill their own lunch” shall be left standing.
P.S: This year I probably wrote more articles about “relationships” and gender dynamics than I ever did, so your free bonus today for those Don Juans in the field who are free men [read: not married] is this pick up line:
“You wouldn’t say no to me if you knew I was gay”
Use it wisely.