Latest news with #Siegel
Business Insider
5 hours ago
- Business
- Business Insider
Meet Goldman's consigliere to Hollywood: the entertainment banker whose days spearheading big media deals start with a run in Central Park
It's not easy to break into either Hollywood or Wall Street. Aaron Siegel has carved out a place in both. As head of Goldman Sachs' entertainment investment banking business, he oversees a team of bankers who work on deals spanning a range of sectors, from live events and video games to television and movie production. His team represented amusement park owner Cedar Fair in its $8 billion merger with Six Flags last year, and Niantic, the video game maker behind the hit franchise "Pokémon Go," in its $3.5 billion sale to Saudi Arabia-owned Scopely. This year, he was named to Billboard's annual list of its Power 100 list — and was ranked No. 8 on the publication's list of finance sector professionals. As a former Hollywood reporter who now covers Wall Street, I was curious to hear Siegel's thoughts on the future of entertainment and his advice for making it on Wall Street. Siegel joined Goldman as an analyst more than 20 years ago and last year was elevated to partner, the firm's highest rank outside the C-suite. He said that when the entertainment banking group launched as an independent business line in 2021, he was its sole managing director. Today, he oversees a team of four MDs, including Hemal Thaker, who spearheads the gaming and interactive entertainment business; Gaurav Madan, who handles M&A execution; Jack Kamine, who looks after film, television, and content; and Evin Broder, who's focused on live entertainment, and entertainment services and growth. Jenny Kim, a managing director at Morgan Stanley, joined in June to lead the bank's music business. Goldman's expansion comes amid sweeping upheaval in the entertainment industry—from the 2023 dual strikes over AI and labor concerns to climate disasters like California's $250 billion wildfires and mass evacuations. Here's a look at our conversation, edited for length and clarity. I'm often up early enough to go for a jog through Central Park. It is a global business, and we generally have something fun happening. So as I make my way to the park, I'll check in with our teams in Europe and Asia working on projects. This week, it was teams in Stockholm and Singapore. Stockholm, especially, is a vibrant epicenter for the world of music production. Once I'm in Central Park, there's nothing better than just having some time surrounded by the earth and the trees. And there's no better way to end a day or a week than with a Little League baseball game, one of my kids' music performances, or getting a chance to attend a religious service performed by my wife, who's a rabbi at a temple here in New York. When I joined the firm 22 years ago as an analyst, I had the privilege to really be in the trenches with our clients, building those relationships. So I really try to encourage and ensure that our entire team is getting that exposure and building those relationships. I am inspired by the incredible creativity and tenacity of our clients, and I want our junior bankers to experience working for the most creative entrepreneurs and people in the world. Entertainment is a very broad sector, and there are sectors within it, like music and video games, that have grown consistently in recent years. In Hollywood, film and TV production have gone through a period of just epic challenge from the pandemic to the evolution of the streaming wars — as well as the 2023 actors' and writers' strikes and the LA fires. But I believe from the work we're doing with our clients that the environment for film and TV content has stabilized and is now growing again. Audiences have re-embraced the theatrical experience at the movies, and the scaled streaming services are on a very strong footing. It makes sense that companies are uncoupling their businesses so that each have their own capital structures, management teams, and strategic direction. I believe that this will also help people start to operate again from a position of stability and strength. How is AI — or Hollywood's skepticism of AI — impacting business? AI is influencing every transaction we work on right now. We are seeing AI empower creators, writers, songwriters, and directors. It's making content creation easier and more widespread. Among our client base, AI is proving a win-win for everybody. I look to music as an example. There're over 100,000 songs uploaded to streaming platforms every day. And share has shifted as a result to independent and DIY artists. The majors have benefited as well because of their expertise in elevating artists to global superstars. Their knowledge in this environment becomes all the more important since they have the intuition and models to help artists reach the next level. You have one of the cooler banking jobs I've come across. Tell me about some of the highlights — the nights out and awards shows. I will never forget being at South by Southwest for the premiere of "Everything, Everywhere, All at Once" for one of our studio clients in 2022. I was not even remotely prepared for the grandeur, the emotion, the intensity of that experience in that film. For me, it was an unexpected story about parenthood and having young kids at that moment watching that movie — I did not go into the journey expecting to be so moved. Looking back on your career, what advice does Goldman partner Aaron Siegel have for the analyst he started as more than 20 years ago? This is a career that celebrates achievement by changing your role. So as an analyst, you spend two or three years mastering modeling. As an associate, your task is to oversee the narrative of presentation materials. And once you master that, you are then moved into a new role where as a VP managing projects and the day-to-day work with clients. And these are all wildly different roles requiring you to build different skills. And so my advice would just be to enjoy that experience, embrace the fear of new challenges. And if you do, you probably won't find a lot of moments of boredom throughout the journey.
Yahoo
21 hours ago
- Sport
- Yahoo
Heat rumors: Miami's draft plans linked to star Florida guard
The post Heat rumors: Miami's draft plans linked to star Florida guard appeared first on ClutchPoints. With the Miami Heat preparing for the NBA Draft with the first round on Wednesday, there are no doubt many fans who have their picks on who the team should select. While the Heat look to avoid making a mistake in the NBA Draft, the team's recent selections have been anything but that, as the latest report connects a college player staying in-state. Advertisement ClutchPoints' NBA insider Brett Siegel would have Miami taking the University of Florida's Walter Clayton Jr. with the 20th overall pick after the guard led his program to a national title. Especially after missing out on trading for Kevin Durant, the team does need another scoring threat and a point guard, which Clayton fills in. Plus, Siegel would report that the Heat picking the Gator has 'gained momentum among league personnel.' 'The Miami Heat are said to be valuing experienced prospects in the 2025 NBA Draft that can provide an instant impact on the court rather than youthful projects with long-term upside,' Siegel wrote. 'As a result, Walter Clayton Jr., who just led Florida to a national championship, can become the Heat's point guard next to Tyler Herro in the backcourt.' 'After missing out on trading for Durant, Miami needs to prioritize finding scoring threats next to Herro and Bam Adebayo,' Siegel continued. 'Outside of Herro, the Heat don't have other lead playmakers in their backcourt, which makes Clayton a high-upside pick for Pat Riley. Clayton to Miami has gained momentum among league personnel in recent days.' Walter Clayton Jr. fits what the Heat needs Scott Wachter-Imagn Images After the Heat wasn't able to land Durant, as mentioned before, the team could look to the draft in building a foundation from their other first-round picks that have been successful. With the main duo of Bam Adebayo and Tyler Herro leading Miami, other first-round picks such as last year's Kel'el Ware, Jaime Jaquez Jr., and Nikola Jovic figure to be a big part next season, with Clayton's traits likely to fit in nicely. Advertisement 'Clayton is a dynamic scorer and finisher with the ball in his hands who doesn't back down from a challenge,' Siegel wrote. 'He may be listed at 6-foot-2, but Clayton never shies away from contact and proved to be one of the best perimeter players off the dribble in the draft when he led the Gators to a title.' At any rate, Miami is looking to improve after finishing with a 37-45 record, which put them 10th in the Eastern Conference before they were swept by the Cleveland Cavaliers in the first round of the NBA Playoffs. Related: Heat's 10 worst NBA Draft day mistakes in history Related: Heat rumors: Miami's final Kevin Durant offer prior to Rockets trade, revealed
Yahoo
21 hours ago
- Sport
- Yahoo
Heat rumors: This Miami star ‘available' after failed Kevin Durant pursuit
The post Heat rumors: This Miami star 'available' after failed Kevin Durant pursuit appeared first on ClutchPoints. As rumors swirl around the Miami Heat, the team now looks for another way to improve the team after they were unable to land Kevin Durant in a trade, despite being a finalist along with the winner of the sweepstakes in the Houston Rockets. While the Heat now prepare for the NBA Draft on Wednesday, there could be some action with their 20th overall pick, and especially star Andrew Wiggins. Advertisement According to ClutchPoints' NBA Insider Brett Siegel in his latest Big Board ahead of Wednesday's draft, he would mention Wiggins as being 'available in trade talks' along with the aforementioned 20th pick. The goal is for them to add an 'upgrade' alongside the featured Heat duo of Tyler Herro and Bam Adebayo. 'Teams are wondering what is next with the Miami Heat after striking out on a Durant trade,' Siegel wrote. 'Miami continues to make Andrew Wiggins available in trade talks and would be willing to part with the 20th pick in the NBA Draft for an upgrade alongside Tyler Herro and Bam Adebayo, sources said.' Wiggins was traded to Miami in the deal that sent Jimmy Butler to the Golden State Warriors and had averaged 18 points, 4,5 rebounds, and 2.6 assists per game while shooting 44.8 percent from the field and 37.4 percent from deep. According to The Miami Herald's Anthony Chiang of Barry Jackson, Wiggins had been in the proposal for Duant. The Heat's final offer included Andrew Wiggins, Terry Rozier, two bench players, and the 20th pick in Wednesday's NBA Draft. Haywood Highsmith and Jaime Jaquez Jr. were discussed as those two additional pieces in Miami's offer, the source said,' they wrote. 'But Phoenix ultimately wasn't tempted by a package of Wiggins, Rozier, Jaquez, Highsmith, and the 20th pick. Florida prospect projected to stay in-state with the Heat Scott Wachter-Imagn Images Looking at who the Heat are connected to in the NBA Draft, if the team does stay at the pick, University of Florida guard Walter Clayton Jr. is the one who has been talked about. Siegel would say that Miami is 'valuing experienced prospect' with Clayton at 22 years old, and one that could have an immediate impact. Advertisement 'The Miami Heat are said to be valuing experienced prospects in the 2025 NBA Draft that can provide an instant impact on the court rather than youthful projects with long-term upside, which has led many to believe that they are targeting Clayton with the 20th pick,' Siegel wrote. Siegel would also have Miami picking Clayton with the 20th pick in his mock draft, saying the idea of him being selected by the team has 'gained momentum.' Especially after missing out on Durant, the Heat is looking for more scoring threats, as Clayton could fit nicely along with Herro and Adebayo. 'After missing out on trading for Durant, Miami needs to prioritize finding scoring threats next to Herro and Bam Adebayo,' Siegel wrote. 'Outside of Herro, the Heat don't have other lead playmakers in their backcourt, which makes Clayton a high-upside pick for Pat Riley. Clayton to Miami has gained momentum among league personnel in recent days.' At any rate, Miami is looking to improve after having a 37-45 record, which put them 10th in the East. Although they would make the playoffs, they would be swept by the Cleveland Cavaliers in the first round. Related: NBA rumors: Lakers check in with Heat on Andrew Wiggins trade Related: Heat rumors: Zach Lowe praises Kevin Durant trade decision
Yahoo
21 hours ago
- Sport
- Yahoo
Hornets rumors: Interest in Kon Knueppel ‘overstated' amid Ace Bailey, trade buzz
The post Hornets rumors: Interest in Kon Knueppel 'overstated' amid Ace Bailey, trade buzz appeared first on ClutchPoints. With the Charlotte Hornets having the fourth overall pick in the NBA Draft, which commences on Wednesday night, there are a few options that have been linked to the team besides the option of them trading out of the spot. While Duke's Kon Knueppel has been linked to the Hornets, there shouldn't be fans who believe he will be a lock for the selection at the spot. Advertisement According to the latest 'NBA Draft Big Board' from ClutchPoints' NBA Insider Brett Siegel, he would say that the interest from Charlotte in Knueppel is 'overstated.' Siegel would express that there is some interest in the Blue Devils prospect, but that the Hornets like the idea of moving down and 'gathering future assets.' 'What about the Hornets? League sources say Charlotte has navigated the pre-draft cycle with multiple smokescreens and that their interest in selecting Kon Knueppel, a popular choice for the fourth pick, has been overstated,' Siegel wrote. 'While the Hornets do hold interest in Knueppel, many are downplaying the idea of them taking him so high instead of trading down a few spots and gathering future assets.' Hornets are looking at the status of Ace Bailey John Jones-Imagn Images Another player that has been connected to the Hornets is Rutgers star Ace Bailey, who has been an interesting storyline heading into the NBA Draft. Specifically looking at Charlotte, if the team were to stay at the fourth spot and Bailey is available, that is more likely to be the pick due to the talent at 18 years old. Advertisement 'That is why many are beginning to connect the dots of Charlotte potentially taking Bailey despite the 18-year-old's camp suggesting he wants to play for the Wizards, Pelicans, or Nets,' Siegel wrote. 'Many teams don't care what the draftees necessarily want, and they are going to take the best player available. This could be the line of thinking for the Hornets and executive Jeff Peterson on Wednesday if Bailey were to fall to them.' 'Of course, the Hornets have also actively been engaged in trade calls with teams inquiring about this fourth pick, which adds another layer of mystery to where Bailey will ultimately end up, assuming the 76ers pass on him,' Siegel continued. 'The 2025 NBA Draft starts with the 76ers and how far Bailey falls on the draft board.' The Hornets' draft plans have been wrapped in 'uncertainty' as Jake Fischer of The Stein Line said last week, but it will be figured out once the NBA Draft starts on Wednesday night. Related: Hornets rumors: Charlotte 'all ears' on LaMelo Ball, other player trades Related: 2025 NBA Mock Draft 4.0: Latest intel after Kevin Durant trade shakes up top 10
Time of India
a day ago
- Business
- Time of India
Nikhil Kamath's ‘lifelong learning' advice is only step one: Stanford expert shares the key skills needed to survive the AI takeover
As the dust of industrial-age careers begins to settle, a new reality is emerging—one shaped by artificial intelligence , dynamic ecosystems, and a relentless pace of change. Zerodha co-founder Nikhil Kamath recently lit a spark with a provocative statement: 'The days of four-year college courses are over. Lifelong learning is the new norm—for everyone.' But according to Stanford expert Robert E. Siegel , as reported by CNBC Make It , that's merely step one in preparing for the storm AI is bringing to the workforce. Drawing from the World Economic Forum's Future of Jobs Report 2025 , Kamath's post quickly gained traction online, highlighting the rise of automation, the decline of traditional jobs, and the urgent need for reskilling . The numbers are stark: by 2030, 92 million jobs are expected to disappear—even as 170 million new ones are created. Yet Kamath warns: only the adaptable will benefit. You can't rely on what you learned a decade ago, he cautions. But what does adaptability actually look like? Siegel, a lecturer at Stanford Graduate School of Business and author of The Systems Leader , believes the answer lies in five deeply human habits. After studying over 400 global leaders, he offers a more nuanced blueprint to not just survive—but lead—in the AI age. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo Lifelong Learning Is the Entry Point, Not the Destination Kamath's call to end our overreliance on outdated degrees resonates with Siegel's first principle: the best performers actively seek new knowledge beyond formal education. They don't shy away from emerging technologies like AI—they engage with them, even if it's uncomfortable. Siegel stresses the need to break out of intellectual echo chambers and connect with diverse peers, especially younger, tech-savvy professionals who often act as a compass for what's next. — nikhilkamathcio (@nikhilkamathcio) Pair Iron with Empathy If machines dominate logic, humans must dominate emotional intelligence. One standout leader from Siegel's research, Kathy Mazzarella of Graybar, demonstrates this balance. She is described as leading with an 'iron fist in a soft glove.' Mazzarella starts tough conversations with empathy—proving that accountability and kindness aren't mutually exclusive. In a world where AI can do tasks but not feel, emotional intelligence becomes a powerful career differentiator. You Might Also Like: Forget BTech. Zerodha's Nikhil Kamath says only one skill will matter to stay relevant in job market in 10 years Think Like an Ecosystem As Kamath calls for reinvention, Siegel urges professionals to expand their lens. The most resilient people, he says, understand their place in broader systems. Seth Bodnar, President of the University of Montana, exemplifies this by managing diverse stakeholder interests—from alumni and administrators to city officials and employers. Recognizing these interdependencies not only prevents conflict but also breeds innovation. Siegel advises organizations to visualize their operational ecosystems through influence maps—tools that help identify who depends on whom, and where power and pressure points lie. In an AI-driven world, where silos are crumbling, systemic thinking is essential. Relationships Trump Algorithms While technology automates processes, it cannot replicate the depth of human relationships. Siegel believes those who foster strong internal and external networks gain sharper insights and more resilient support systems. Whether it's a frontline employee offering operational wisdom or a peer outside your industry identifying blind spots, the relational edge is invaluable. Kamath, too, alludes to this when he suggests that trust and meaning will remain irreplaceable—even as machines become more intelligent. In workplaces increasingly ruled by data, it is human connection that will offer the most unexpected leverage. iStock While technology automates processes, it cannot replicate the depth of human relationships. (Image: iStock) Fall Out of Love with the Status Quo In 2021, Best Buy CEO Corie Barry shared a piercing insight in Siegel's class: 'You can't fall in love with how you do business today.' That statement underlines Siegel's final rule—embrace change before it's forced upon you. Comfort with constant evolution is the hallmark of those who thrive. AI disruption is not a future possibility; it is a current condition. Siegel believes that fear of change is a bigger threat than change itself. Professionals must not only tolerate transformation—they must lead it. Beyond the Degree: A New Learning Ethic While Kamath's remarks about the redundancy of four-year college courses sparked debate, they also tapped into a growing awareness: formal education no longer guarantees job security. WEF estimates show that 39% of current core skills will be obsolete by decade's end. Even as companies pledge to retrain workers, 11% of employees are expected to miss out on reskilling altogether. The bigger message, echoed by both Kamath and Siegel, is that survival in the AI age demands more than credentials. It requires mindset shifts, systems thinking, and emotional nuance. The Human Advantage The AI age is not a battle between humans and machines—it's a test of how humans evolve alongside them. While machines take over tasks, it is values, adaptability, and human connection that will determine who stays relevant. Kamath's call for lifelong learning is no doubt critical—but, as Siegel's research shows, it is only the tip of the iceberg. The future belongs to those who not only learn but listen, adapt, empathize, connect, and lead. In the age of AI, being irreplaceably human might just be your greatest advantage.
