Sometimes I wonder who the Mike Milkens of the i-banking world are now, if any even exist...not the criminal part, but the smart,networked,creative person that takes unknown people with no/small balance sheets and great vision & ideas and provides the advice & capital to execute
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I'm not curious for my own sake or needs, but I don't hear the kinds of stories like Ron Perelman, Craig McCaw, Ted Turner, all of whom bought or grew enormous companies w/ Milken's help. The market is different now, but are there still bankers that bet on the 'little guy'? Who?
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Replying to @tsludwig
Have they been replaced by the search fund backers and lbo funds?
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Replying to @mgirdley
I don't think so. Totally different scale of ambition and capital.
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I'm not sure the environment is as conducive to those stories today as it was then. This type of rags to riches story has mostly migrated to software/tech companies.
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Replying to @Molson_Hart @mgirdley
I think both points are true. But, I imagine that with all of the bankers out there, someone must be doing something similar, even if on a smaller scale -- a person with tremendous creativity, a golden Rolodex, and a perspective on opportunities that adds tremendous value.
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Agree with you, but I can't think of any examples outside of Silicon Valley. Chris Sacca, in a weird way, is the modern day Milliken. Worth noting that these stories only get written way later so it's hard to know who's doing it now.
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The business landscape of the US is totally different today. The roll-up opportunities have mostly...been rolled up. US business is way more concentrated and outside of SV, we've seen a swing away from "risk-taking". Put these things together and you get our current situation.
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