Proprietary comp report by Overheard on Wall Street.
Harvard's endowment got rekt by private equity and hedge funds, but private equity professionals expect double-digit raises in 2024.
Private equity and venture capital firms from Silicon Valley to Wall Street are pumping millions of dollars into the psychedelic revolution. Investors are betting on the power of mind-bending drugs to transform mental health treatment and cut costs.
Plus: GPT-5 launches, Firefly soars 34% in its IPO, Trump opens 401(k)s to private equity, carried interest makes its way to Abu Dhabi, and AI is reshaping seed-stage VC math.
Plus: Duolingo soared 19% after-hours, Carlyle reported a 12x jump in exits, Apple popped on news of its $100B U.S. investment, and Gowanus is becoming the next Williamsburg.
Plus: OpenAI hits $500B, Trump rejected by JPM and BofA, Wall Street bonuses expected to come in higher this year, and the new app replacing your name with your net worth.
Plus: Palantir crushed earnings, Musk not the only billion-dollar CEO, American Eagle up 24% after Trumpโs Sydney Sweeney post, and JPMโs charging bankers for gym access.
Plus: The rise of private markets, private equity poised for a rebound, and are investors complacent?
Plus: 40% of McKinseyโs revenue is now from AI, Swiss tariffs will raise Rolex prices, Goldman buying Haฬagen-Dazs, and how flying private became the ultimate wealth flex.
Plus: Reddit is mooning again, Apple beat, Amazon disappointed, and MSFT joined the $4T club, Trump slapped 35% tariffs on Canada, and Dimon and Trump squashed beef.
Plus: Microsoft and Meta fuel $500B gain in AI stocks, LPs have had enough of continuation vehicles, and Tariff deals bringing investors back into U.S. stocks.
Plus: Blackstone exec among those killed in Manhattan shooting, automation is coming for junior roles in PE, and OpenAI launched a Study Mode in ChatGPT.
Plus: New S&P bull target, 32% jump in Dubai investment firms, private credit bails out an Ivy, Carlyleโs succession shakeup, IPOs are back, and Dimon not happy with Plaid.
Plus: Mercedes-Benz puts Microsoft Teams in cars, Goldman pauses layoffs, Blackstone tops $1.2T AUM, and the 5ยข meme stock behind 15% of US trading volume.
Plus: Buffett's intangible moats, tech investor outlook, and 7 habits to end the day.
