Market Maker

What does it take to keep going when things get tough?

In this episode of the Market Maker Podcast, Anthony Cheung is joined by endurance cyclist, two-time cancer survivor and motivational speaker James Golding for a conversation about resilience, mental toughness and performing under pressure. While James has completed some of the world's toughest endurance challenges, this isn't a podcast about cycling. It's about the mindset behind sustained success and how anyone can apply those lessons in their career.

Together they explore how to deal with rejection, overcome self-doubt, recover from setbacks and stay focused on long-term goals. Whether you're preparing for interviews, working in investment banking, trading, or simply looking to become more resilient in your professional life, this episode is full of practical insights that can be applied immediately.

If you've ever wondered what separates those who thrive under pressure from those who give up, this is an episode you won't want to miss.

(00:00) Introduction
(01:30) James Golding's Story
(06:20) Why Cycling Changed Everything
(10:33) Cycling Across America
(14:28) Building Resilience
(24:12) Small Wins Matter
(28:35) The Power of Reflection
(32:21) Overcoming Self-Doubt
(35:30) Performing Under Pressure
(41:52) Why Your Team Matters
(50:05) Dealing with Rejection
(55:46) Tour de France Challenge

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James Speaker enquiries - info@onestepatatimeuk.com

Goldman Sachs has advised on more than $1 trillion of mergers and acquisitions in record time, highlighting the return of blockbuster dealmaking. We explain what's driving the surge in investment banking activity, why AI is fuelling both M&A and IPOs, and what it means for markets.

We also break down the growing crisis at Thames Water, why nationalisation is back on the table, and how years of private equity ownership led to one of the UK's biggest corporate challenges. Finally, we analyse Snap's dramatic decline from a $130 billion company to under $10 billion, why its founder-led governance matters, and whether its bet on augmented reality glasses can ever pay off.

(00:00) Coming Up
(02:32) Goldman Sachs Hits $1 Trillion
(06:08) M&A League Tables 1H26
(09:08) IPO Markets Returns
(17:29) What Next for M&A
(19:11) Thames Water Explained
(24:32) Special Administration Regime
(32:27) Can Thames Water Be Saved?
(36:54) Snap's $120B Collapse
(40:07) The Founder Control Problem
(45:24) Does ESG Still Matter?

SpaceX raised $86 billion in its IPO then borrowed another $25 billion from the bond markets days later. Anthony Cheung and Piers Curran break down the financial engineering behind the deal, what a BAA1 credit rating means, and why Elon Musk is playing a completely different game to everyone else.

Micron just posted EBITDA up 15x year-on-year with gross margins jumping from 39% to 85%. We unpack what that tells us about who's really winning the AI race and why it's no longer the Mag 7.

Finally, Keir Starmer is out. UK gilt yields broke above 5% for the first time in decades before falling back sharply. We explain why markets rallied on the news and what Andy Burnham as Prime Minister means for U.K. bond markets.

(00:00) Introduction
(00:22) SpaceX Post-IPO Sell-Off
(05:15) Mag 7 vs Semiconductors
(12:27) Oil, Iran & the Fed's Hawkish Turn
(15:45) Micron's Blowout Earnings
(22:18) SpaceX's $25bn Bond Deal Explained
(31:29) Keir Starmer Resigns UK Market Reaction

Why would a company generating less than $20 billion in annual revenue spend $60 billion acquiring an AI coding startup?

In this episode of AmplifyME Market Maker, Anthony Cheung and Stephen Barnett take a deep dive into SpaceX's blockbuster acquisition of Cursor and explore the strategy behind one of the most talked-about deals in markets. They break down how Cursor went from startup to a $60 billion acquisition target in just a few years, why investors pushed SpaceX above a $3 trillion valuation following the announcement, and what the deal reveals about AI, venture capital, corporate finance and Elon Musk's long-term vision.

The discussion also explores the unique economics of highly valued companies, how acquisitions can accelerate growth, and why the world's biggest technology firms are racing to secure AI talent and infrastructure.

Plus, a look at Fox's $22 billion acquisition of Roku and the latest developments in UniCredit's ongoing pursuit of Commerzbank.

(00:00) Intro
(01:45) SpaceX & Cursor Deal
(04:38) SpaceX Valuation Debate
(09:08) Deal Structure Explained
(15:33) Shareholder Structure
(18:18) Who is Cursor
(21:16) Cursor Founders
(22:44) The MIT Startup Ecosystem
(29:42) Fox Buys Roku
(36:26) M&A Psychology
(40:13) UniCredit vs Commerzbank
(42:32) Orcel's Takeover Strategy

In this episode, we shine a spotlight on Debt Capital Markets, a crucial yet often overlooked business function within major investment banks like J.P. Morgan, Bank of America, and Citi.

Join us as we demystify DCM, explaining its unique role within investment banking divisions and the essential personality traits that make individuals well-suited to this area of finance.

From structuring bond offerings to advising clients on debt issuance strategies, DCM professionals play a vital role in facilitating capital raising for corporations and governments worldwide.

Get ready to dive deep into Debt Capital Markets and uncover fresh insights into the ever-evolving world of finance.

(00:00) What is DCM?
(05:50) Working in DCM
(08:36) Skills of DCM Analyst
(13:48) DCM Progression
(14:59) Salary Progression