The pandemic was an accelerator for change. I returned to a book this year called Scarcity, which reads: Follow the thread of scarcity long enough, and it leads back to abundance. Strong leaders are made both in and for difficult times. Unfortunately this position has been closed. What is the price of a security compared to its long-term value, both on an absolute and relative basis, and over time? Previously, Daniel was a Sales & Trading Summer Analyst at Read More Daniel Milne's Phone Number and Email Last Update 11/9/2022 12:29 AM Email d***@liontree.com Engage via Email Contact Number (212) ***-**** Regarding other uses of capital, companies with strong balance sheets are leaning into organic investment opportunities to hone competitive advantages and position for future growth, particularly in areas like networks and infrastructure (cloud and data centers, fiber builds and deployment). Compared to a record 2021, global M&A volume has decreased in 2022 but remains on a positive trajectory compared to 2020. . At the same time, there will be beneficiaries of new supply chain dynamics and deglobalization trends, such as Mexico and Latin America as it relates to the West. LionTree CEO Aryeh Bourkoff is a master dealmaker.. Liontree LLC and The Raine Group SA 2023 Recruiting/Interview Timeline? Sometimes the best offense is a good defense. Through our biweekly KindredCast podcast, daily Take a Break newsletter, and social media channels, we seek to engage a variety of demographics that could benefit from stories and perspectives across our ecosystem. While social media thrives on disagreement, media is the override in that it offers common groundan immensely valuable thing in a fractured social landscape. The causes of our uncertainty are well-known: inflation; global central bank policies; war in Eastern Europe (and perhaps elsewhere); the decoupling of Western and Eurasian economies; and other sources of social and political turmoil. Greenhill provides its Analysts with the specialist training that gives them a strong foundation in the skills they need to begin a successful career in investment banking. T 404.495.7000. 2023. Email. This puts a premium on creative dealmaking and M&A, structuring, and access to long-term shareholdersand this is what we at LionTree excel at. - Leslie Mallon, Head of LionTree Public Markets. Take the YouTuber MrBeast, who recently supplanted PewDiePie as the most-subscribed individual YouTuber, with a staggering 112 million subscribers and a target valuation of $1.5 billion. Sometimes the rules themselves will need to be changed to allow these processes. Following the Dot Com boom, the market lost all confidence in the viability of IPOs, but it only took a few successful, smaller-scale listings to reboot the market and investor confidence. 2) Will consumers tune-in, particularly when theres a price tag involved? We must be mindful of the heightened influence of both creators and platforms on the information we consume, and on our public discourse. Since 2017, Kindred Media has always served as a vehicle of expression for LionTree. This is complemented by another historic shift, which is the rapprochement with Israel. These are the values that have informed LionTrees growth (up and down) from the beginning, as we advise our partners through transformations not transactions, and through good times and bad. LionTree Chairman & CEO Aryeh B. Bourkoff shares his reflections and outlook for the year ahead. Your preference will be taken into consideration, but not guaranteed. We seek to match long-term-oriented CEOs with long-term shareholders, enabling companies to play to their competitive advantageand we align ourselves with the outcome through our own capital. Each year, the list captures topics and areas of professional and personal interest that are integral in the moment, as well as reminders to be studiedsprinkled with fun, passions, and general levity. Its customary for me to share a list of (audio)books that I have gathered over the course of the yearfrom friends, mentors, family, travels, and more. In my view, many of the ruling class parties (whether they won or underperformed, like the GOP) lack youthful, decisive, innovative leadership that has executable ideas suited to the times. Second, the ceaseless supply of new content ends up devaluing that content over time, as is the case with any asset inflation. The current media paradigm has several of its own weaknesses, as well. Moelis & Company offers a collaborative, diverse and entrepreneurial environment where experienced professionals can continue to learn, grow and enhance . There are several factors underlying the geopolitical currents roiling the globe: Russias unprovoked invasion of Ukraine; a strained relationship between the West and China; tensions inside and with Iran; and the uneven rise of the Global South. As Churchill said, Its no use saying, We are doing our best. You have got to succeed in doing what is necessary. The challenge is to maintain an abundant mindset, and a purposeful one, in times of scarcity. Worked alongside some folks there on an M&A deal. Investment Banking Internship | Summer Analyst | Jefferies Jefferies offers an intensive investment banking internship program that is designed to assist students in navigating a successful career in finance. In 1979, when inflation was above 11% annually, Paul Volcker allowed interest rates to floatwhich they did, higher and higher, reaching a stratospheric 19% for the Fed funds rate by 1981. To do the unexpected, so we can look back and wonder why we didnt act sooner. At the same time, the U.S. is reasserting its global leadership, benefitting from its role as the home of free markets and abundant capital to drive innovation (even during time of scarcity), a still strong dollar and global reserve currency (despite clear challenges), and energy and food independence compared to other regions. First name. Amid wilderness and isolation, we discussed the idea of protection, and concluded that protection comes in three forms. Weve also launched a new miniseries, Listen on Purpose, that shines a spotlight on purpose and impact-driven business leaders, as a reminder to bring those elements to the forefront of our careers and daily lives. But as the company wrote in its most recent letter to shareholders, building a large, successful streaming business is hard. The company estimated its competitors are all losing money, with combined 2022 operating losses well over $10 billion, vs. Netflixs $5 to $6 billion annual operating profit. Competitors need to find their path. Culture seemed good but I think they have it pretty rough in terms of hours (suppose this is a general street wide comment but LionTree seems to run extra lean). But that doesnt mean its closed. Location: New York, NY. LionTree Founder & CEO Aryeh B. Bourkoff joined CNBC's Squawk Box this morning to share his outlook for the media industry in 2023. How much do LionTree employees make? The traditional model was built on multiple revenue streamsadvertising, subscription, long-tail syndication, and content bundling, where owning IPand the library of content built up over timewas the bedrock of long-term value. What that period dramatizes is a central dynamic of our own time: the necessity of contraction and recalibration for the prospect of future stability and momentum. As Ive suggested, this growing down requires creativity, community, and capital. It holds true in business, andfor those of you watchingin the worlds most popular sport. Ralph Waldo Emerson. Contact. The arrival of big tech platforms highlighted the benefits of broad distribution, established through e-commerce (Amazon), devices (Apple), or streaming built on cheap money (Netflix). It holds true in business, andfor those of you watching in the world's most popular sport. For the content companies, this means a focus on creativity to produce absorbing content across formats and audiences, profitably, and working with the industry to find the best home for that content. Boards approved strategies they never would have previously and will be even less likely to approve in the coming year. Download PDF. Turbulent times teach us that momentum is no guarantee of stability, and hubris is as dangerous as inertia. Founded in 2012, LionTree has offices in New York, San Francisco, London and Paris. On the buzzy Liked by Stanley Sunata LionTree is an independent investment and merchant bank focused on media, technology, telecommunications and consumer-related industries with ~$750bn in total transaction value. They know their location but must continually adjust their momentum. Strategic asset sales create opportunity for potential consolidators seeking to repackage media assets to create must-have offerings that enhance a holistic customer experience, with the added benefit of spreading costs over a broader asset base. Feb 24, 2021. . The uncertainty principle, in quantum mechanics, gives us a powerful metaphor for the contingency of our knowledge. But that reconsideration is itself an opportunity. Gaming reaches more than four billion people worldwide (and growing), equally shared between men and women. In the EU, the sale of Giphy represents the first time a global regulator has unwound a completed transaction by Big Tech, and Illuminas $8bn acquisition of Grail was approved in the U.S. but blocked by the EU competition authority, despite the target having little presence in the EU (this decision is currently under appeal). The verbal link has made me think deeply about what weve built at LionTreewhere we are today, where well be tomorrow, and our tentpoles throughout. Incoming 2023 Investment Banking Summer Analyst at LionTree LLC Previously, Alex was an Investment Analyst & Intern a t The Baupost Group and also held positions at The City of Ann Arbor, Michigan. If you are interested in our program, please submit your resume to this posting. While the applicability and upleveling of generative AI for creative industries is clear, its ultimate impact is still taking shape, as AI becomes a leading target for investment in the next wave of digital transformation across industriesfrom enterprise technology and logistics to finance and healthcare. This gap, this paradox, we must overcomefor our society at large, and particularly for our children. 11/16/2022 5:48 PM. As individuals and as institutions, we have a responsibility to speak out against hateful extremism, and these efforts must be backed by responsible moderation and regulation. The UK environment is particularly challenging, with many mergers (such as Viasat/Inmarsat) under tight scrutiny. Im proud of the way weve established the firm as a community of forward-thinking advisors, CEOs, investors, creatives, and others, across industries and continents, intently focused on helping each other, and on having an impact (and some fun along the way). 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