Onakpoma Besidone

BREAKING: Anthropic Acquires 9-Person Biotech Startup For $400 Million >be coefficient bio >founded the startup 6 months ago >build AI platform for biotech >less than 10 employees >acquired by anthropic for ~$400 million > = $40+ million per head Coefficient Bio was building an AI platform for biotech tasks: planning drug R&D, managing clinical regulatory strategy, identifying new drug opportunities Team is joining Anthropic’s healthcare life sciences group led by Eric Kauderer-Abrams. Anthropic is building specialized tools for industries that actually pay enterprise rates: >software engineering >cybersecurity >life sciences >healthcare >finance Meanwhile OpenAI is buying media companies to control narratives LMAO

I talk about investment banking hours quite often here, and one of the most common questions I receive from non finance folks is why the hours are actually so bad After all, what do you even do for 80 hours per week? Here is some color for those who are interested > Taking a step back, investment bankers are expensive advisors. They do not actually invest any money, despite what the name would suggest. They are in the business of giving advice to CEOs, CFOs and Board Rooms on transformative transactions > What are transformative transactions? Large M&A deals, IPOs, capital raises, restructurings and bankruptcy would be the most common examples. Whenever you hear about a large billion dollar deal on the financial headlines, there is probably an investment banker involved in some shapr or form > Investment bankers are hired for their expertise primarily. CEOs and CFOs focus on the business operations and internal projections. They are not taking companies public everyday or doing M&A deals on a weekly basis. But investment bankers do exactly that, and they are able to charge a small fee to companies for this advice > Investment bankers are also placement agents for securities. When you want to raise capital as Company XYZ, they have a large rolodex of people they know who might be interested in buying your stock. As a banker, your value comes from experience and relationships. > As a senior investment banker, your job mostly revolves around building relationships with these CEOs, CFOs and investors. That is how you win business. If you can sell yourself and your firm better than others, you get to charge a 3% fee on a mega billion dollar transaction. That is worth another house in the Hamptons and your kids' private school paid for. That is the incentive for working > As a junior investment banker, the story is slightly different. You job has barely anything to do with relationship building. Analysts and associates are expected to be deep in excel and powerpoint, churning out analysis on behalf of your seniors to help them win clients > Once a client has been won, you work together with the CFO and their finance team to put together a financial model that helps inform potential investors. You also put together large PowerPoint decks that tell the story of the company to investors. These are often packed with a lot of jargon and data. The goal is simple: help investors get up to speed on the company as fast as possible, so that they can make their decision to invest quickly, and your bank gets paid faster. The faster the deal closes, the less vulnerable you are to random market swings or change in investor sentiment > In the process of getting investors up to speed, you end up doing additional analysis on behalf of your client. The investor might read through your 90 page deck and the model, and send you a follow-up list with 6 pages of questions on the business. They want to understand the KPIs, historical trends, market share, competitive dynamics and spend by customer. As the junior banker, it is your job to help put these together and help the investor in their diligence process > So why do you end working such long hours? First, it is important to know that when investment bankers say they work 80 hours, they are not actually working the full 80 hours. A lot of time is spent in the office waiting for your senior bankers to review your work > Every deliverable in investment banking goes through a layer of review, where every number and detail is scrutinized internally and by your client before it is released to third parties. This means that you can spend your 9-5 working on a deck, and then be sitting around from 6-8 waiting for your VP to finish reviewing your work. Once the VP's edits are made, you will be waiting for your MD to finish reviewing between 9-11. By the time it reaches the client, it is midnight and you are waiting for them to sign off. The next day you wake up, and repeat the same exact process. > This is the primary reason banking hours end up being so bad. The nature of the work is inherently iterative and goes back and forth. More importantly, the work is unpredictable. You do not have a good sense of when requests will come in. Unpredictability freezes your ability to make plans properly with friends or family. You are always "on call". This leads to burnout much more often than just the sheer number of hours alone. > Client service is the cherry on top. Because your senior bankers are in the business of selling advice and expertise, everything becomes an urgent task that "must be" completed right away. The goal is to make yourself look competent to the client, more than anything else. Even when you receive requests at 10 PM, the junior bankers are expected to sacrifice their sleep and finish the work overnight if required. You want to make the client feel like they are the most important client you have. After all, they are only paying you millions of dollars in fees for this service > Last, but not least, it is the people. Banking tends to attract personalities that are incredibly cut throat and take their work far too seriously. There are numerous VPs or MDs in this line of work who are completely okay with ruining your weekends, date nights and holidays for the sake of producing a +0.1% better work product for the client. At least 99% of the time, this has absolutely zero impact on the actual P&L of the bank or whether your bank gets hired for the deal. However, perfectionism runs hard in banking culture. > For some VPs or MDs, they fundamentally believe that this struggle is the right of passage for analysts. They suffered during their analyst years, so why should the new generation not have to do the same? If you work for a bank or group with good culture, you can hopefully avoid some of these personalities. However, you will still end up working long hours because of the unpredictable and iterative nature of the job. There is simply no escaping it.

@KingObreme @olumidecapital This information is inconsequential to Nigeria's exposure to the global oil crisis.

@olumidecapital Wish more Nigerians had this as public knowledge

The FG doesn't determine the pricing of 🇳🇬 crude, it is largely influenced by Brent crude

@KingObreme @olumidecapital This information is inconsequential to Nigeria's exposure to the global oil crisis.

BREAKING: Trump has told aides he is willing to end war with Iran without reopening Hormuz, per WSJ

Breaking: Bill Ackman just called Fannie Mae and Freddie Mac "stupidly cheap" and said they could 10x if privatized and relisted What Ackman didn't mention: Pershing Square Capital Management owns ~10% of both companies, making him the largest private common shareholder. • Fannie Mae ($FNMA): Up 27% today • Freddie Mac ($FMCC): Up 21% today His position gained an estimated $200,000,000 today alone

Fascinating watching Microsoft come to the realization that betting the whole company on a single LLM provider is actually a horrible decision Microsoft was the same business that invested billions of dollars in OpenAI and wrapped them up in Azure cloud credits Markets rewarded them with a massive multiple, predicated on OpenAI winning the entire race Now that Anthropic is slowly catching up on consumer, and even taking the lead on enterprise, the tone has changed Microsoft is slowly distancing itself from OpenAI and shifting to a multi model platform Think that every other company will start to do the same. Multi model feels like the future Aligning yourself with a single side is simply too dangerous when the game is still on play between Anthropic and OpenAI

Some of the highest quality businesses in the world are trading at extremely cheap prices. Ignore the MSM. One of the most one-sided wars in history that will end well for the U.S. and the world. And we have the potential for a large peace dividend. One of the best times in a long time to buy quality. Ignore the bears.

@Emmanue65056367 @FabsTola I love it on my woman

@FabsTola Don't know who deceived the female gender that eye lash is good on them.

This bride is going viral for having her wedding without makeup 👰✨

Bill Ackman on AI CapEx spending… “If a company announces that business demand is so great - in order to meet demand, we need to build more factories … You should applaud.” – Bill Ackman $META $GOOGL $AMZN

Howard Marks: “10-year forward returns were between 2% and -2% whenever the market traded at 23x earnings.” I remember many people dismissed him as a “perennial bear” when he said this. Now they say “the market wouldn’t decline if it weren’t for the Iran War.” It’s always this reason or that reason. What’s undeniable is that when the valuations become unsustainably high, the market inevitably corrects itself. Thinking that this time would be different is the most dangerous thing you can do in the market.

@_AsiwajuLerry @surgeonwhizz Its because you have zero jobs in your country .

@surgeonwhizz Any chance to dunk on our noisy neighbors, count me in.

Nigeria is the highest African country based on the number of active users on 𝕏 while Ghana is nowhere to be found in the World Top 50. We might be loud but we actually have the numbers to back it up. Giant of Africa for a reason. 💪🏾

@olumidecapital How do you expect a company to grow paying dividends consistently that's why matured companies with lil upside potential ..A share buyback make more sense...You want bigger pay,then invest more capital

I’m rooting for the day when getting a dividend alert from a listed 🇳🇬 company is a bigger flex than a payout from social media

@Holuwaphemmy04 @olumidecapital @MarioNawfal Not exactly,that's half story.

@olumidecapital @MarioNawfal Global market driven

🇮🇷 Diesel prices have gone completely crazy since the Iran conflict started: 🇵🇭 Philippines +81.6% 🇳🇬 Nigeria +78.3% 🇲🇾 Malaysia +57.9% 🇺🇸 U.S.A. +41.2% 🇩🇪 Germany +30.9% Meanwhile, Russia +0.5%, India 0%, Saudi Arabia 0%. Some countries are already getting absolutely crushed. Source: @jackprandelli, Investor Sight

@olumidecapital @MarioNawfal Is NNPC delivering enough crude to Dangote to meet local demand? Oil theft,mortgaged future oil output and incompetence has caused this exposure to global oil crisis...We shouldn't be this exposed as an oil producing nation.

@MarioNawfal 🇳🇬 is so high because of no subsidy

@tosin_olaluwoye @Nimisioluwa And its bad?

@Nimisioluwa So, in the name of wokeness, we have circled right back to polygamy?

“Love of your life is already married, but would you let that stop your happiness and not pursue what's yours” First wife gives advice to other women.

Few days ago, was speaking with a former colleague at a hedge fund that has been working on deploying prediction markets as a part of their trading strategy Summary of our conversation and why he thinks prediction markets will absolutely become a core pillar of every macro hedge fund in the future > prediction markets provide binary outcomes that act as better hedging tools, especially when you compare it to existing instruments > the biggest problem with putting on hedges with options or swaps is that it is almost impossible to tell what exactly has been priced in by the market already > for example, if you wanted to be short SOFR rates going into a CPI print, you can be absolutely right on the outcome but still get killed by volatility if your view was right, but already priced in > prediction markets are binary in the sense that there is no volatility drag on your returns. you know exactly what is priced into the trade already. When you buy lower SOFR rates by X date at 80% probability, you know what you are paying for. Reducing uncertainty like that is worth millions for his fund > cleaner outcomes is probably the biggest thing driving adoption of prediction markets at the institutional level. historically his fund might express views on a Fed rate cut with rate or FX exposure. But reality is that those instruments tend to move on a variety of factors. A random tweet from our President can send rates or stock prices flying nowadays. In a market like that, isolating outcomes is huge. When you express that same view on prediction markets by buying “Yes” on Fed rate cuts, your economics is based on that decision alone, and not the 20 other things impacting prices > there is still a massive arbitrage left between traditional options markets and prediction markets today. The same view priced at 5% on Kalshi might be priced like a 15% probability event in the options market. Going long and short to capture arbitrage between traditional markets and prediction markets is incredibly profitable right now. He expects this gap to close as more sophisticated investors enter the field

@Nkama090Prince @yabaleftonline He has always been a big fool,big cos of peoples love for Davido- they didn't see it..Most fat people are fools

@yabaleftonline Never thought this guy would be a big fool, before I use to say he's just a fool but not much.

"APC is taking care of me.” — Cubana Chiefpriest.

@CKhebouiz @citizenkwadwo1 @JacobsBen Shutup! You were beaten on the pitch..Football is decided on the pitch not in close doors.

@citizenkwadwo1 @JacobsBen The lawful decision now is Morocco is the winner, until the C.A.S, confirm it or give it back to Senegal. What they are doing is unlawful. And it will hit them hard, because no lawful organization allows law disrespect.

Senegal parade the AFCON trophy ahead of their friendly with Peru. Appeal lodged with CAS after CAF’s Appeal Board handed the trophy to Morocco via a 3-0 walkover.🏆

Oil may hit a record $200 a barrel if the Iran war drags on till June, with the Strait of Hormuz staying shut, Macquarie said