There's Now a Version of AI You Can't Buy
Three of the four labs shipped two versions of the same model recently. One you can buy. One you have to be approved for.
Industry Deep Dives
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The Firms That Cannot Lose From AI
Why does AI transform one services business and stall in another? Look at how each one gets paid. Letting agencies take a percentage of rent collected. Insurers are priced on premium. Neither sells time, so every hour the software removes is pure profit...
The Death of Traditional Investment Banks
In five years, every traditional boutique investment bank will be dead. Or at least unrecognisable from what it is today.
The Rise of the AI Roll-Up
An AI roll-up buys existing service firms... accounting practices, letting agencies, IT providers, call centres and rebuilds their production around AI built in-house.
Who Wins the $1TN Insurance Market?
Corgi, an AI insurance company founded in 2024, had raised again at a $4 billion valuation. Its fourth round of the year. In January it was worth an estimated $630 million.
How OpenAI and Anthropic Take Over the $7TN Professional Services Market
OpenAI owns part of the company buying up America's accounting firms. It was the first investor in Harvey, legal's biggest AI company. Its engineers already work inside law firms, banks and hospitals.
What Are SaaS Multiples in 2026? The Correction Explained
A data-driven breakdown of where SaaS valuation multiples have stabilized in 2026, what caused the correction and which metrics now separate the outcomes.
What Private Equity Firms Look for in Platform Acquisitions
A deep dive into the 5 interconnected criteria that PE firms look into when making platform acquisitions.
Why American Private Equity Is Buying Up Europe's Best Small Businesses - And What Founders Need to Know
What drives the surge of U.S. private equity buying and consolidating Europe’s SMBs.
EBITDA Normalization in M&A: What to Adjust, What to Exclude, and Why It Matters
A practical guide to EBITDA normalization in M&A - what adjustments survive due diligence, how buyers evaluate them and why small changes can move your valuation significantly.
What Documents Are Required in an M&A Process? A Practical Guide for Founders
A stage-by-stage breakdown of the documents founders need in an M&A process.
Selling an SMB: A Step-by-Step M&A Process from Preparation to Close
A practical guide to running a competitive SMB sale process - from preparation and positioning to diligence and closing - so you protect your valuation, create competitive tension and avoid the deal-killers that derail most exits.