How Will Anthropic Justify a $2 Trillion Valuation?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny The Best Explanation of AI Model Companies, How The Models Work, and Who Pays for What Anthropic and OpenAI are gearing up to go public. In anticipation of what’s expected to be (in Anthropic’s case) one of the largest IPOs of […]
Why did Netflix Walk from Warner Bros? Here’s the M&A Math.
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny Netflix to Paramount: “Congratulations on Saying the Biggest Number, You F***ing Morons” Any M&A banker understands why Netflix walked despite only $1 separating their losing bid from Paramount’s winning bid. WHY? WHY didn’t Netflix counter when they seemed to be in […]
WTF Happened with Blue Owl?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny This past week we interviewed Goldman Sachs’s Head of Alts for Wealth, Kristin Olson (interview HERE), and asked her all the cynical questions you’ve asked us with regards to expanding private markets’ access to retail investors. She talked about how: Fees can […]
The Probability Machine
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny There’s an old joke on the trading floor: “What’s the difference between a Treasury trader and a swaps trader? Swaps traders can see the future.” The reality is, all interest rates trading at its core is a continuous referendum on what’s going […]
The Nikkei just hit an all-time high. What is happening?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny Japan’s stock market hasn’t been here since the bubble economy of the late 1980s. The Nikkei 225 and TOPIX have both surged to record highs, closing a chapter that investors called “three lost decades.” But this isn’t a single-catalyst story. […]
100 Year Bonds: The “Deal of the Century”?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny We got the following question in our fan mail: “Hi! My name is Bethany, I’m from Kansas City. I love listening to the podcast! I’m a future episode could you dive into all these corporate bonds? 100 year bonds in sterling?? […]
Elon Musk and the Art of Not Taking the L
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny Last March, we talked about Elon Musk’s X (the artist formerly known as Twitter) / xAI merger, and why the headline valuation didn’t really matter. The deal was all stock, both companies were private, and Elon had majority ownership in both companies. […]
What is the SaaSpocalypse?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny You’ve seen the headlines. It’s been a bad week for the tech sector. So what’s going on? Is this the long-awaited bursting of the AI-bubble? Or is this, in fact, the logical outcome of AI development thus far? Let’s discuss. When we […]
5 reasons you’re not getting the job…and what to do instead.
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny I’ve always believed that markets work well when they are efficient. So, shouldn’t that apply to the job market? The answer seems to be “no”. Perversely, the age of increased access and enhanced automation has made the job application process way WORSE […]
Hedge Funds Are Back. So, What ARE They, Anyway?
By Jen Saarbach & Kristen Kelly, Co-Founders of The Wall Street Skinny This recent WSJ article caught our attention: after a decade of underperformance, hedge funds just had their best year since 2013. In 2025, per the article, the top decile of funds returned nearly 30%. According to Goldman Sachs, more institutional investors plan […]