We are deeply committed to the bit

I mean, read the whole interview. It’s unhinged.

Scoop: Davos founder Klaus Schwab is stepping down as executive chairman of the World Economic Forum semafor.com/article/05/21/…

Is the answer it’s too big to fail?

Big credit card news: A Texas district judge granted a preliminary injunction against the Consumer Financial Protection Bureau and its rule to crack down on late fees, blocking it days before going into effect.

Read the order from Judge Pittman here: punchbowl.news/wp-content/upl…

Bloomberg asking Adam Neumann on why Andreessen Horowitz invested $350M in his new startup after everything at WeWork: “That’s a question for Andreessen Horowitz”

Thanks Brian Sullivan for having me and working in “what the cool kids say” as I nod enthusiastically

'Pershing Square Holdings has traded at steep discounts for years,' says Liz Hoffman as Bill Ackman appears to cash in on his 'anti-woke crusade.' 'There's really no explanation for it other than probably a referendum on the manager.' $PSHZF

Sometimes it’s hard to know why stocks go up. Sometimes it’s not.

My latest for Semafor on the business of being Bill Ackman in 2024 semafor.com/article/05/09/…

“I believe to this day we’re the only technology company that has published the data sources we use to train our AI. I think that’s a big statement. It was important to IBM that we put it out in the public domain, so people can see exactly what we’re using.”

🟡 NEW: Bill Ackman’s turn as an anti-DEI provocateur has turned the investor, well-known enough on Wall Street but not far beyond, into a culture warrior.

It’s also been very good for business, Liz Hoffman reports.
semafor.com/article/05/09/…

Bill Ackman tried everything for years to boost the stock price of his investment fund — dividends, buybacks, marketing. Turns out all he had to do was open his mouth.
semafor.com/article/05/09/…

Happy US publication day to me! simonandschuster.com/books/Everythi… Americans: please go and buy my book. It’s about Bayes’ theorem. It’s pretty good! I promise!

“I spent my career in a socialist organization,” Gen. Mark Milley joked recently before a group of private-equity executives. “I’m just settling into capitalism.”

Wrote about the military brass finding a warm welcome on Wall Street with Liz Hoffman : semafor.com/article/05/07/…

Same news, two different stories.

This from Apollo Global Management, Inc. Marc Rowan today is completely fascinating

🟡 SCOOP: The FTC plans to privately recommend a potentially criminal case against Pioneer's former CEO for comments he made to Texas rivals suggesting they coordinate ways to drill less oil, Liz Hoffman and Gina Chon report.
semafor.com/article/05/02/…

I've never seen a merger approval quite like this one...