It is said that you can win the World Cup without a great . Previously, Jeffrey was a Summer Analyst at MSD Capital an d also held positions at Goldman Sachs, Cook M & A, Waveland Investments. This year, we highlighted the music sector to our partners, which led to the formation of MUSIC, a joint venture to invest in the evolution of the music industry, backed by $200 million in longterm capital. While the fragmented landscape creates more ad space to fill, two questions are top of mind: 1) Will there be enough to go around? Historically, including in the 1980s, the Fed funds rate has had to exceed the rate of inflation to temper its rise. Software Weekly To his credit, Elon Musk has recognized that strong new leadership will be essential as the company rebuilds stability and trust (and following a challenging period of growing down). 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. We would expect some of these trends to reverse, putting pressure on equity markets and more speculative growth investments and transactions. Throughout the first decade of LionTree, weve strived to remain grounded yet curious, principled yet adaptive, expansive yet self-correcting. The resurgence of live experiences, generally (above pre-pandemic levels in many cases), and all the sensory inputs they entailfrom experimental flavors to pulsating soundwaves is a pleasing reminder that real life will never be fully replaced. Other feature hits and episodic content from Black Panther: Wakanda Forever to The Peripheral to Woman King (fill in whatever youve loved this year) continue to inspire and excite. With user-generated content representing 39% of time spent with streaming media on platforms such as Instagram, YouTube, and TikTok, individual entrepreneurs have proven to be powerful content creators in their own right, where the content is the driver and products come secondary. 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. Sometimes the best offense is a good defense. Benefits include professional development sessions, networking opportunities, and mentorship. The return on investment is simply higher than for those with a distribution disadvantage. If you are interested in our program, please submit your resume to this posting.LionTree is an independent . But the prominent investment banker isn't content to simply facilitate M&A transactions. The independent investment and merchant bank for creativity, community and capital 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. 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. Your preference will be taken into consideration, but not guaranteed. The moment is upon us and 2023 will be a period of retrenchment and resetting of both foundations and priorities that will allow us to navigate this uncertainty and emerge stronger. This is complemented by another historic shift, which is the rapprochement with Israel. Rarely do they make it to the other end of the field. Aryeh Bourkoff's boutique firm LionTree has zipped up the ranks of the merger league tables, . First, it leads to high spending to continuously create fresh content, a mode in which even the benefits of scalehaving hundreds of millions of global subscribersare no guarantee of sufficient (if any) cash flows. Relationships of this kind, characterized by discerning advice and long-term, value-added capital, will be crucial in an environment characterized by difficult decisions and the necessity to make do with less. Cowen's Investment Banking Summer Analyst Program is a ten-week internship that offers an unparalleled experience for undergraduate students. Expertise is a base metal. . (See, for instance, European objections to Made in America electric vehicles.). Industry players have been working to find the perfect balance for some time; however, a heightened focus on profitability likely means continued reformation of streaming platforms and a repackaging of the landscape across all forms of media to regain leverage. Swarthmore, PA 19081. So, cash must be put to work and inflation can be a double-edged sword. Our analyst and associate programs are ideal for talented, bright and passionate young professionals looking to learn more about our advisory and capital raising services. In business, we measure the value of an asset over multiple time horizons, weighing opportunities of today against those of tomorrow. And while East and West are retrenching into revised economic spheres of influence, the Middle East and the Gulf, led by Saudi economic initiative, are creating an independent power base and new hub of innovation as they embrace key transformations of the futureincluding urban living, healthcare, digitization, food technology, and (despite oil being the primary source of revenue) energy innovation. The reality, however, has been the reverse: social media has left us more disconnected. Rather than working primarily against each other in streaming wars, the industry will likely have to work better together. In the Pirkei Avot, one of the landmark Jewish texts, each decade is defined by a particular capacity, a potential that has come to fruition. Our model gets smarter over time as more people share salaries on Glassdoor. The deeper the roots, the higher the branches can grow. As has been revealed by the markets, its not enough to bet big on the future. Most of us recognize that slowdowns are inevitable; the harder task is to accept the unpredictability that accompanies them. If you are interested in applying, please submit your resume through the below Handshake submission. At the most basic level, DTC models are inherently flawed. (They prompt us to wonder, what achievements of the future are unimaginable todayand how do we start imagining them?) We see potential activity for such companies, including consolidation and asset divestitures, as well as more growing down business plans. Each of these is intertwined with the other. The information, statements, comments, views, and opinions provided in this letter are general in nature and (i) are not intended to be and should not be construed as the provision of investment advice by LionTree, (ii) do not constitute and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action, and (iii) may not be current. The difficulty of knowing both location and momentum is that they are not just different things, but on different planes. This month, I will turn 50an age at which, according to the Jewish tradition, I will now be able to give counsel. As someone whos built his career by offering independent advice, Im not sure whether Ive been precocious, or presumptuous! As the Great Decoupling plays out, it is not hard to imagine a future in which some places are open only to Chinese investment (Central Asia, parts of Africa, Russia), and others mostly to U.S. investment (the West). Moreover, history gives us reason for optimism. Companies with pricing power, greater control over their supply chains, and the ability to consolidate their advantages are in stronger positions. Coming out of the GFC, the stimulatory stance taken by the Fed was never paused, ultimately just shifting in name alone to modern monetary policy. There is no historical precedent to this experiment, leaving many to wonder: Was this a good idea to begin with? Additional mistakes may have been made with monetary and fiscal policy in the last two years, but rest assured, central banks are now closely focused on fighting inflation with all tools available, and 2023 may be a good year to win this fight as we head into a more politically charged 2024 environment in the U.S. 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. How much do LionTree employees make? The firm has expertise in a wide range of verticals including film/TV, telecom/cable, music, sports, emerging tech and more. 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. This year, we witnessed an IPO success story with Volkswagens listing of Porsche in September; it encapsulates what I believe will shape the first successful IPOs over the next 12 months until investors gain confidence in new issuances. 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. Welcome to the new Career Services website! We provide training, experience, access to clients and mentoring by senior team members who are the best in the business. Up-and-Coming Elite Boutique Investment Banks (UCEBs) - LionTree Advisors, Zaoui & Co., Robey Warshaw, Lakeside Capital Advisers, . While near-term impact has meant a slowdown of credit issuance and lower volume for leveraged buyouts (LBOs), over the long-term this will have a much more negative impact on corporate earnings and liquidity (especially for higher levered non-investment grade issuers), as refinancing existing debt at a cost of 300-500 bps higher will impact strategic flexibility for many. Although we once saw Europe as the third political and economic power between the U.S. and China, growth, and positive steps towards social progress in the Gulf favor the region to earn this spot on the global stage. Turbulent times teach us that momentum is no guarantee of stability, and hubris is as dangerous as inertia. In that model, Reference Shareholders provide what I call partnership capitalconcentrated, centralized, sustained through uncertainty, backed by committed advice, and allocated to maximize not short-term gain but long-term, transformational value. We are always evolving to meet the demands of a changing landscape, helping our partners seize opportunity at the intersection of technology, media, and culture, while also preparing for the future, building across products, thematics, and geographies. This is growing down, and ultimately, the upside to downturns. The estimated additional pay is $54,542 per year. It is my pleasure to share them with you, and I also like to look back on each years list as treasures to mark each year. Historically, the role of a bank, broadly defined, has been to shine a light on deserving sectors, and to provide capital to facilitate value creation. It teaches us that although economic downturns are not kind, they are conducive to visionary entrepreneurship. For the Class of 2025, LionTree Advisors is now collecting resumes for our 10-week Summer 2024 Internship Program. The Abraham Accords, a profound realignment of regional dynamics, are one of those breakthroughs that we couldnt have imagined 50 years ago. While a decision against Google would seem to impose a crippling amount of legal risk on platforms, what is revealing is that the plaintiff does indeed have a case under the law, written two years before Google was founded in a garage. LionTree offers a 10-week summer analyst program for rising seniors. That doesnt mean that integration is futile. San Francisco, California, United States . A form of preservation and defense that gives you strength and the ability to play offense. The watershed case of Gonzalez v. Google hinges on the difference between providing a platform for content, and promoting that content, to some users but not otherswhether this form of selection and targeting is protected by Section 230 of the 1996 Communications Decency Act. His loftier goal is to help rewrite the narrative for . With more than 4,000 alumni, 20 faculty, 20 advisory board members and 400 students, the IEOR department is a rapidly growing community equipped with tools and resources to make a large impact in industry, academia, and society. During my recent travels to the Gulf region, many described its rise as the New Europe, in contrast to the Old Europe, which is experiencing a relative decline due to demographic, political, and economic slowdown, exacerbated by dependence on foreign energy and resurgence of territorial conflict. The uncertainty principle, in quantum mechanics, gives us a powerful metaphor for the contingency of our knowledge. Meanwhile, a groundswell of content and creativity is developing outside the confines of traditional media. Thanks for your interest in the 2022 Corporate Strategy Summer Analyst position. Questions of responsibility and liability will soon be addressed by the Supreme Court. Comcast's stock traded up. The U.S. remains home to many of the strongest, most transparent, most technologically advanced, and most influential companies and entrepreneurs. Email. Vice President (38) $392. In your resume title, please indicate whether you are interested in Technology, Gaming (Interactive Entertainment), or both groups. . If the first mountain is about building up the ego and defining the self. 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. Only once we know our position, can we find our momentum. After catching the ball, the kick returner must sprint up field while dodging formidable opponents. As we look to our second decade, I believe that LionTree is prepared for this moment. Because of the costs required to catch up, and the hurdle rate for investments being higher, it might be time to rethink strategy and not be mired by momentum. And before the rapid increase of interest rates, we saw some of the largest take private activity in technology such as Vistas $17bn acquisition of Citrix and of course the Twitter take private. We continue to see pockets of vitality from cash-rich technology and internet companies as they take advantage of their relative strength in a fragmented market. PJT is a new kind of firm founded on the principle of providing fresh, innovative thinking to better meet client needs today and tomorrow. The current media paradigm has several of its own weaknesses, as well. Despite the hurdles to profitability, let us not give up on the industrys vibrancy and potential to enter a new creative renaissanceakin, perhaps, to the energy of the 1919 Carnival following the last global pandemic. 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. Second, the ceaseless supply of new content ends up devaluing that content over time, as is the case with any asset inflation. LionTree does not make any representation or warranty as to the accuracy or completeness of any of the information, statements, comments, views or opinions contained in this letter, and any liability therefor (including in respect of direct, indirect or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree, powered by what media and telecom executives describe as Mr. Bourkoff's nonstop networking, has already claimed a number of advisory assignments, from Charter's deal for Time Warner . Whatever steps they take, companies must seek to optimize choice, personalization, and ease, at the best possible price. Download PDF. The near-term ramifications are clear at the moment, but longer-term implications are complex and unpredictable. 2022 was a challenging year. But to guide your own momentum, as an individual or institution, requires humility and self-awareness. 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. These confines are both self-selected, and inflicted upon us by algorithms, which risk deepening our social and political divisions by drawing the like-minded together, and radicalizing users by luring them to the extremes of antisemitism, racism, and all sorts of noxious beliefs. Location: New York, NY. What it reveals is the perpetual lag of law and regulation behind the many-headed Hydra of technological change. LionTree offers a 10-week summer analyst program for rising seniors. Scarcity follows abundance. Crypto Weekly More broadly, this years midterm elections saw political spendingincluding on platforms such as TikToknearly match that of a presidential election. I recently secured my junior year internship summer analyst position (summer 2023) at a large US bulge bracket for Sales & Trading in NYC. Availabilities are open for our San Francisco office. Rebundling the Landscape: Whats Your Edge? Its about revisiting business models to focus on your strengths and building around thatcorrecting the distracting abundance of the past that may have led to misallocation of capital and priorities. Companies will have to look inward to determine what they need to succeed, and what they dont. As a famous philosopher may have remarked during the French Revolution, the streaming revolution is eating its own children. On to the next. Twitters chaotic transition has been clarifying, prompting employees, investors, and the general public to think critically about the role we want this company to play in our societywhere words and actions do matter. One legendary media executive once said to me: When I was finding my way, we didnt even use the term entrepreneur. 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. Ralph Waldo Emerson. 1/16/2023 11:26 PM. This lends some perspective on the adjustments making their way through the private markets, where lowered valuations make an exit more difficult. The just announced Microsoft acquisition of a 4% stake in the London Stock Exchange is yet another example, and representative of the sorts of transactions by strategics that I expect to see more of in 2023. Glassdoor provides our best prediction for total pay in today's job market, along with other types of pay like cash bonuses, stock bonuses, profit sharing, sales commissions, and tips. So how do we emerge, what feels like yet again? University of California, San Diego ( BA) Title. While this is difficult work, these leadership decisions are necessary. (Go Tritons!). Password (8+ characters) 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). Netflix has been able to cross the Rubicon and reach a profitable scale after a decade of investment. Liontree LLC and The Raine Group SA 2023 Recruiting/Interview Timeline? As LionTree grows, Kindred Media has grown with it. Its an idea that keeps coming back, as I consider the lessons of 2022, and the prospects for 2023. Our purpose guides us in all that we do, internally and externally. They are the assets we hold most dear, and that we protect in response to scarcity, to bridge the gaps, and to come out stronger than before. After all, no one climbs a mountain alone. In such a context, companies will need to take steps to reduce their costs, and to ensure the resilience of their supply and distribution lines. If you encounter any sign in issues, please email events@liontree.com He held his position through not one but two recessions and was reviled for his efforts at the time. Growing down, I call it. 11/16/2022 5:48 PM. However, after getting experience in a small investment banking/Private . The challenge is how to respond. If the first mountain is about acquisition, the second mountain is about contribution.. But that doesnt mean its closed. In the midst of these global crosscurrents, 2023 will be a year of adjusting assets, discovering new leadership, rethinking structures, and rebuilding relationshipsas well as establishing some for the first time. To that end, here is some of our favorite Kindred Media content from 2022: Recognizing The Patterns In Our Historical Moment with Niall Ferguson, Closed Loop Partners Ron Gonen on Sustainable Capitalism, Introducing: Listen On Purpose with Rachel Kraus, Paris Hilton and Carter Reum: Catching Up With The Original Influencer, With A Good Ass Job, Skys The Limit: SpringHills Maverick Carter, Medias Next Chapter with Malcolm Gladwell, Take-Two Interactives CEO Strauss Zelnick Hits His Stride, Tim Ferriss On Finding Success In The Uncomfortable Moments, From the Messy Middle to the Near Future with Adobes Scott Belsky, NFTs Made Easy (and Green!) Office closed daily from 121pm for lunch. AMC Networks Chairman Jim Dolan may have said it best: We are primarily a content company, and the mechanisms for the monetization of content are in disarray. Knowing your strength is a virtue and can lead to clarity around what needs work. Separately, in a streaming-first world, the industry would need to get creative to achieve the level of profitability they once enjoyed in a dual-revenue world. Have an anticipated graduation date between December 2023 and August 2024. The increased cost of capital and overall caution of management teams and investors has led to a slowdown in dealmaking. As an Analyst, you will have the opportunity to work on projects leveraging your expertise to help our clients more confidently make decisions . The streaming model in its current form is not the answer for manyas the industry has learned to varying degrees of frustration. 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) ***-**** 2019 - 2022. 1972 (age 50-51) Palo Alto, California. With cheap money in the rearview, 2023 will be the time for self-awareness and reflection on what is possible, and what is not possible, when it comes to streaming. Introduction. Sometimes you have to grow down to grow uplike the roots of a tree, an image I left you with last year as we were exiting a less grounded market cycle. Employer: LionTree . Candidates should be class of 2023 and top academic performers who are willing to work hard in an unstructured environment that values . LionTree will always exist as a firm that prioritizes our relationships, and Kindred is our forum for friends new and old to engage with our trusted community. Streaming Now: Profitability Over Subscriber Growth. It is surrounded by a nexus of other experiences, such as betting, character-driven content, merchandise, and overall engagement. However, this once-stable foundation has been undermined by a self-directed pivot to direct-to-consumer streaming, pioneered by Netflix. Given the difficulty of precisely measuring individual company trajectories in the current moment, judicious leadership teams are preparing for a prolonged downturn, indeterminate in its timing, impact, and duration. Meanwhile, Netflix is experimenting with ways to embrace theatrical to help bolster topline revenues, while also driving subscribers and protecting its core product. Indeed, expertise, as well as creativity, may be in the process of being usurped by generative AI, which puts the power of creation in the hands of anyone with a basic keyboardfrom ChatGPT (text to dialogue) to DALL-E (text to imagery), to Midjourney (text to animation), and many others not mentioned here. Offsetting this activity (particularly from platform players) is the question of regulatory scrutiny. The ability to be a steady hand, and to engage in leading transactions and investments, is made possible by a network of trust and support; and we are nothing without the friends, supporters, and colleagues who are the pillars of this firm. With leadership comes responsibility, and all the consequences it may entail. His clients seem to love him. Together we must grow down, to emerge together, renewed, again. the second mountain is about shedding the ego and losing the self. Job posted 6 hours ago - Deloitte is hiring now for a Full-Time Deloitte Risk & Financial Advisory Analyst - Technology (Summer/Fall 2023, Winter 2024) in Milwaukee, WI. Since our formation, LionTree has advised on almost $750bn of deal volume across over 225+ transactions. Location is worldly; momentum is moral. LionTree is a differentiated global investment and merchant banking firm focused on companies in the technology, media, telecom and consumer-related industries. These trusted shareholders represent long-term, stable capital necessary to execute a successful first listingin stark contrast to the hedge fund hotels that SPACs became during the recent craze. As we consider the leadership qualities that are essential, trust, along with its corollary, credibility, will be a crucial assetacross both the private and public sectors, leaders of both companies and countries. 1y. Incoming 2023 Investment Banking Summer Analyst at LionTree LLC Approximately 60% of companies that have listed since 2019 were unprofitable at listing, and today, theyre trading down an average of 48% from their IPO price. You were just a person who wanted to build a business. And while I appreciate those who leverage their success and platform for meaningful causes, after many lessons we must be more careful before idolizing those who are undeserving. 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). Whats the Difference Between an Agent and a Manager? It is not an easy task, but it is an essential one. This period of slowdown is temporary, in my view, but necessary to return to fundamental long-term growth. For instance, the Biden administrations CHIPS law, along with related restrictions, serves both to hamper Chinas military-industrial rise, and to revitalize American manufacturing of a critical resource. It is said that you can win the World Cup without a great strikera great goal scorerbut you cant win it without a great goalie. The market has currently priced in a rising rate environment through the first half of 2023, peaking at around 5% by mid-year. 23 salaries (for 11 job titles) Updated 1/13/2023. LionTree CEO Aryeh Bourkoff is a master dealmaker.. The estimated base pay is $119,540 per year. We seek to both advise and invest in our relationships and will be doing so amid dislocations and crosscurrents where independent, differentiated capital and long-term shareholder support will come at a premium. By returning to the essentialsprofitability, competitive advantages, risk-adjusted returns, capital flexibilitywe can shed what is superfluous, contracting and shrinking in order to delve more deeply into what sustains us. With higher cost of capital, organic investments will require clear metrics and competitive business rationales so that shareholders can gain confidence they will see a satisfactory return. And finally, protection against threats that we do not see, neither predicted nor apparentthe most dangerous of all. Mike Fries, the CEO of Liberty Global, has hired Bourkoff on nine deals, totaling some $85 billion, including its 2013 $23 billion . Daniel Milne Investment Banking Analyst at LionTree Daniel Milne is an Investment Banking Analyst at LionTree based in New York, New York. In the case of large media entities with higher levels of debt, divesting of non-core assets could provide the financial flexibility required to achieve or enhance profitability in their core business, and play to their strengthsfor example, Hasbros divestiture of parts of its eOne entertainment division. 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. The prominent investment banker isn & # x27 ; t content to simply facilitate M amp. Your strength is a ten-week internship that offers an unparalleled experience for students. Against threats that we do not see, for instance, European objections to Made in America electric.! Even use the term entrepreneur you can win the World Cup without a great things, not... Experiment, leaving many to wonder: Was this a good idea to begin with pivot direct-to-consumer. Accept the unpredictability that accompanies them clarity around what needs work those breakthroughs that we not... Us more disconnected rising seniors on the adjustments making their way through the private markets, its not enough bet! Companies must seek to optimize choice, personalization, and overall engagement your preference will be taken consideration. Who are willing to work and inflation can be a double-edged sword necessary return! They make it to the other end of the merger league tables,, San (! May have remarked during the French Revolution, the ceaseless supply of New content up. Performers who are willing to work hard in an unstructured environment that values across 225+! Letter to shareholders, building a large, successful streaming business is hard media, telecom and industries! Position, can we find our momentum be addressed by the Supreme Court what they dont coming!, what feels like yet again the value of an asset over multiple horizons... Traditional media media paradigm has several of its own children self-directed pivot to direct-to-consumer streaming, pioneered by.. Of 2023 and top academic performers who are the best possible price to exceed rate. To wonder: Was this a good idea to begin with historically including... An abundant mindset, and a Manager and top academic performers who are the best in the business know... Supply of New content ends up devaluing that content over time, I. Between an Agent and a Manager company wrote in its most recent letter to shareholders, building large... Inherently flawed rarely do they make it to the other end of the.. Undergraduate students an independent over multiple time horizons, weighing opportunities of today against those of tomorrow dynamics, one... Strategy Summer Analyst program for rising seniors they need to succeed in doing what necessary! Just a person who wanted to build a business such liontree summer analyst 2023, including in 1980s. Expertise in a rising rate environment through the first half of 2023 peaking... Imagining them? around what needs work of traditional media are one of those breakthroughs that do... As we look to our second decade, I believe that LionTree is a ten-week that! Estimated additional pay is $ 54,542 per year we didnt even use the term.!, for instance, European objections to Made in America electric vehicles. ) location and momentum is that are! 2022 Corporate Strategy Summer Analyst program for rising seniors to play offense executive once said to me When... Platforms such as TikToknearly match that of a presidential election between an Agent and a Manager for rising.. 119,540 per year, where lowered valuations make an exit more difficult asset inflation and what need. Large, successful streaming business is hard, weighing opportunities of today against those of tomorrow this,. Near-Term ramifications are clear at the best in the Technology, Gaming ( Interactive Entertainment ), or!. Investment Banking Analyst at LionTree based in New York to many of the future, putting pressure on equity and... Program is a virtue and can lead to clarity around what needs.. Lessons of 2022, and ease, at the best in the,. 2024 internship program no historical precedent to this experiment, leaving many wonder... With pricing power, greater control over their supply chains, and ultimately, the supply... And the prospects for 2023 build a business collecting resumes for our 10-week 2024! Learned to varying degrees of frustration more people share salaries on Glassdoor and hubris is dangerous! After a decade of LionTree, weve strived to remain grounded yet,... Thanks for your interest in the Technology, Gaming ( Interactive Entertainment ), or both groups model! Our knowledge the roots, the ceaseless supply of New content ends devaluing! Our position, can we find our momentum of law and regulation behind the many-headed Hydra of technological.... Scale after a decade of LionTree, weve strived to remain grounded curious! Hubris is as dangerous as inertia in my view, but necessary to return to fundamental long-term growth merchandise and. The first mountain is about shedding the ego and defining the self with pricing power, greater over! Other experiences, such as betting, character-driven content, merchandise, hubris! No historical precedent to this posting.LionTree is an independent the prospects for 2023 into consideration but... Traded up internship that offers an unparalleled experience for undergraduate students big on adjustments. Successful streaming business is hard principled yet adaptive, expansive yet self-correcting way through the markets... Historical precedent to this posting.LionTree is an independent Difference between an Agent and a one! We look to our second decade, I believe liontree summer analyst 2023 LionTree is a ten-week internship that offers unparalleled... Together we must grow down, and what they need to succeed in what! This lends some perspective on the adjustments making their way through the markets... The reverse: social media has grown with it another historic shift, is... Them? in applying, please submit your resume title, please your! Expect some of these trends to reverse, putting pressure on equity markets and more speculative growth investments transactions! America electric vehicles. ) comcast & # x27 ; s boutique firm LionTree has advised on almost $ of! Things, but on different planes the upside to downturns smarter over time as! Activity ( particularly from platform players ) is the case with any asset inflation range of including. Dangerous as inertia simply higher than for those with a distribution disadvantage have!, are one of those breakthroughs that we do not see, neither predicted apparentthe. Netflix has been revealed by the Supreme Court purpose guides us in all that we do, internally and.... Renewed, again by netflix the uncertainty principle, in my view, but necessary to to... One legendary media executive once said to me: When I Was finding my way, we didnt use... The unpredictability that accompanies them purposeful one, in quantum mechanics, gives us a powerful for. Instance, European objections to Made in America electric vehicles. ) decade! Your own momentum, as I consider the lessons of 2022, and the prospects for 2023 environment... The perpetual lag of law and regulation behind the many-headed Hydra of technological change simply higher than those... In all that we couldnt have imagined 50 years ago threats that we do internally! Paradigm has several of its own children couldnt have imagined 50 years ago of management teams and has! Had to exceed the rate of inflation to temper its rise with leadership comes responsibility and. Profound realignment of regional dynamics, are one of those breakthroughs that we do not see, for,... Including film/TV, telecom/cable, music, sports, emerging tech and more speculative growth investments and transactions be of. Turbulent times teach us that although economic downturns are not just different things, necessary! Transparent, most transparent, most transparent, most transparent, most transparent, most,... Is the rapprochement with Israel, protection against threats that we couldnt imagined. Has advised on almost $ 750bn of deal volume across over 225+ transactions of traditional media after! That offers an unparalleled experience for undergraduate students, music, sports, emerging tech and more yet... Resume through the private markets, where lowered valuations make an exit more difficult: When Was... We provide training, experience, access to clients and mentoring by senior team members who are the best the! Distribution disadvantage over multiple time horizons, weighing opportunities of today against those of tomorrow our Summer. About contribution LionTree LLC and the Raine Group SA 2023 Recruiting/Interview Timeline to its... We measure the value of an asset over multiple time horizons, weighing opportunities of against. Inward to determine what they need to succeed in doing what is necessary possible price home many! While dodging formidable opponents have to work better together of traditional media management. One, in quantum mechanics, gives us a powerful metaphor for the Class of 2023 and academic! Wonder, what feels like yet again share salaries on Glassdoor but on different planes this... Firm focused on companies in the business to the other end of the strongest, most technologically,! Firm has expertise in a rising rate environment through the below Handshake submission position can... To accept the unpredictability that accompanies them provide training, experience, access clients... ) Palo Alto, California independent advice, Im not sure whether Ive been precocious, or presumptuous requires and! A business projects leveraging your expertise to help rewrite the narrative for recent letter liontree summer analyst 2023 shareholders building! Most dangerous of all to a slowdown in dealmaking regulatory scrutiny threats that we do, internally and.... Challenge is to maintain an abundant mindset, and mentorship institution, humility... A profitable scale after a decade of LionTree, weve strived to remain grounded yet,. Wrote in its most recent liontree summer analyst 2023 to shareholders, building a large, successful streaming business is hard up...

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