Finance forensics · No jargon

DEAL
BREAKERS

Every merger has a cause of death. Each week we autopsy a deal that destroyed billions — breaking down the thesis, the warning signs, and the exact mechanism of failure.

Watch on YouTube Episode resources
$200B
Destroyed · AOL/Time Warner
$98.7B
Largest annual loss in US history
Weekly
New autopsy every week

Latest episode

Ep. 01 — How AOL/Time Warner Destroyed $200 Billion in 2 Years

All episodes

01
How AOL/Time Warner Destroyed $200 Billion in 2 Years
Coming soon New
−$200B
 02
Quaker Paid $1.7B for Snapple — Then Sold It for $300M
Coming soon
−$1.4B
 03
The Science of Overpayment: Why Acquirers Always Destroy Value
Coming soon
70–90%
 04
Sprint + Nextel: Two Companies Incompatible Before Day One
Coming soon
−$30B

What this channel is

01
The deal thesis
Why did this deal make sense on paper? Who pitched it, who approved it, and what were they betting on?
02
The warning signs
What did the SEC proxy say? What did the market price in? What did the analysts miss or ignore?
03
The autopsy verdict
One cause of death. Not a list of factors — a single root cause that made failure inevitable from signing day.