Welcome back to Semafor Business, anniversary edition.
Semafor turned 1 yesterday. A heartfelt thanks to everyone who’s read us, advised us, and, crucially, given me tips.
I came up working at newspapers, where today’s stories are tomorrow’s birdcage lining, so I’m not one to look back. But a quick, incomplete list of a year of scoops: FTX’s bonkers balance sheet, Microsoft’s $10 billion investment in OpenAI, Carlyle’s new CEO, the unraveling of a dream at Goldman Sachs, the civil war at Blue Owl and the $40 million payoff that ended it, a sexual-harassment settlement unnerving investors at Tiger Global, the boardroom bickering that killed SVB, Charlie Ergen’s M&A endgame, Elon seeking new money for Twitter (at the old price!), a $10 billion insurance deal in the offing, a secret $2.5 billion bill coming for KKR, and, of course, Adam Aron getting catfished.
In between, we covered a banking crisis, a crypto crash, an AI hype cycle, and a Wall Street doom loop, and delivered insights and analysis to make sense of it all. Finance can be deliberately confusing, I suspect to justify why they pay themselves so much money. My goal is to demystify it and hold it to account, and share my own views alongside original reporting, owning the risk of being deeply, comically wrong. (A reminder that you can reply directly to this email to tell me just how wrong. I read them all.)
We launched our weekend interview series, On The Record, and sat down with some of the most interesting CEOs out there to talk about the most pressing issues: return to work, the end of free money, the woke wars, the Barney movie. And we held our first event, hosting NYC Mayor Adams, Gary Cohn, Mark Wiedman, and others at the Semafor Business Summit earlier this month.
More of all of it to come. Especially the scoops. Always the scoops. Please send scoops.
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