Oh what a night... Yesterday, we dodged a bullet as a raging wildfire wiped out the home of our kids and grandkids near Mammoth. Terra and Josh rounded up Wyatt, Maggie and Ruby, as well as canine and feline family members Shadow, Paws, Sumi and Mochi (Ninja is still missing, but the over/under in Vegas has the odds in favor of that 🐱 🤞🏼)and all evacuated from their McGee Creek home and caravanned down to Bishop before CalFire closed the 395. This incredibly resilient unit will battle through, but they sure could use any assistance you might consider. Sending love to all and gratitude in advance. Mimi and JJ https://t.co/lHkYrTYGvK
Today I have a huge surprise… I made a tabletop game!
It’s the result of two years of design, testing, fine-tuning, laughs, and celebration. I collaborated with the incredible team at Exploding Kittens (@gameofkittens), and it’s been play-tested by 100+ families and groups in multiple countries. Now, it’s finally ready for primetime.
COYOTE! It’s an addictive card game of hilarity, high-fives, and havoc. You can learn it in minutes, and each game lasts around 10 minutes.
But how did this all start?
As a kid, Dungeons & Dragons was my best friend. It kept me safe from bullies and captured my imagination. Under the hood, it also taught me teamwork and—I honestly believe—made me smarter.
Decades later, the game Poetry for Neanderthals made me laugh until I cried. I tracked down Elan Lee (@elanlee), one of the world-class game designers behind it, and we did a podcast together. We’re similarly weird and quickly became close friends.
It wasn’t long before I began to wonder: “Might I be able to make a game that’s simple and hilarious (like Poetry), but one that also makes you smarter and is hard to master (like D&D)?”
Elan was an immediate YES, and… now we have it!
COYOTE is now available at @walmart (or link in bio) online and in 3,200+ stores across the US. The game will be available at Target, Barnes & Noble, and internationally for our friends abroad later this summer. Stay tuned. Lots of fun stuff coming.
And if you try it out, please share videos of you playing! I’m so excited to see it in the wild.
Just use the #coyote #coyotegame hashtags, and I’ll be sure to find you.
The fog is lifting in PE markets, but the game has changed. @McKinsey 2025 Global Private Markets Report reveals some fascinating trends:
· Dealmaking rebounded by 14% in 2024, making it the third most active year on record. The big guns are back - deals above $500M rose 37% in value.
· After years of cash drought, distributions finally exceeded capital calls for the first time since 2015. LPs can breathe again, explaining why 30% plan to increase their PE allocations.
· But PE returns remain subdued at 3.8% through Q3 2024 - well below the historical average of 14.5%. The era of easy returns from multiple expansion is over.
Value creation has become the make-or-break imperative. StepStone's analysis shows 61% of returns in the 2010-2022 period came from leverage and multiple expansion. Those days are gone.
The question isn't whether you're in PE - it's whether your playbook has evolved fast enough for the post-fog landscape.
Keen to get your take on whether renewed momentum will continue through 2025…
https://t.co/HIbGQukADn
Remember when PE was riding the wave of near-zero interest rates and ever-expanding valuation multiples? Those days are in the rearview mirror. Now, firms are scrambling to generate real operational improvements while distributions remain at their lowest in a decade.
What caught my attention from Bain’s Private Equity Outlook 2025:
- Carve-outs used to be reliable winners (3.0x MOIC before 2012!), but they've dropped to just 1.5x since then. Most sponsors aren't delivering the operational improvements they once did.
- Revenue growth and multiple expansion still account for 94% of value creation, while margin growth contributes a measly 6%. In an era of elevated tech valuations, that's a recipe for disappointment.
The winners in this dynamic market are those who can find real alpha through strategic and operational excellence—not just financial engineering. As the Partners here at JJA look across the C-suite landscape, the difference between mediocre and extraordinary results increasingly comes down to leadership talent that can drive real transformation.
Keen to compare notes…
https://t.co/4QCRV8x2sL
That's a wrap on the Third Annual @thursnights Private Equity Fall Invitational Golf Tournament in Palm Desert! The winter rye was pristine, the weather was insanely beautiful, the stogies were perfectly humidored, and the Hamachi was flapping at Mitch's Prime Seafood!
Two incredible days of networking, exquisite food, poker, and world-class golf at Stone Eagle GC and Bighorn GC, not to mention the amazing prizes the winners took home including a @FourSeasons Maui at Wailea stay & golf package.
Most importantly, the ThursdayNights community Raised $10,000 for the Desert Youth Boxing program of the Boys & Girls Clubs of Cathedral City through this event. (Check out trainer Jamaal Brooks on the pads with future champion, Adrian Balley III a.k.a. “El Lobo” who is a graduate of Elite Boxing Academy). Thank you to all participants for their generous contributions to this worthy cause.
Shout out to our co-sponsors who made this premium event possible:
@Avidbank - Delivering tailored financial solutions
Kirkland & Ellis - Leading private equity M&A expertise
RSM - The power of being understood
SLK Private Wealth - Expert asset management guidance
@jja_co - Executive search for Growth & Innovation Leaders
Four Seasons Hotels and Resorts Maui at Wailea - Luxury hospitality partner
Don’t miss out on future events! Check out https://t.co/EKUW6F9TGg
Huge congrats to Brian Barnum and the entire #ShamrockCapital team on the close of their latest vehicles totaling $1.6B. Here's to the next chapter of transforming #media, #entertainment, #sports and the broader #digitallandscape. @WSJ
https://t.co/DrpJEAyJ16
Another incredible night with the @thursnights crew for the #AI Salon overlooking the Pacific at the Fairmont Miramar Hotel & Bungalows last week.
Our brilliant speakers, CEO of @LegalZoom, Jeff Stibel and EVP of Revenue Operations at @Oracle, @jasonmaynard engaged in a compelling discussion about AI's transformative impact, sharing personal experiences and predictions for what lies ahead. Their invaluable insights that left us all energized about the future!
What would ThursdayNights be without giving back to our community? True to ThursdayNights' spirit of social impact, we've raised an amazing $7,500 for the Boys & Girls Clubs of Santa Monica @SMBGC!
But we're not done yet–we're extending bidding on our crown jewel auction item:
-Three Nights in a deluxe ocean-view room at The @FourSeasons Maui at Wailea
-The retail value is $7,000 but bidding stats at $1,500 for one week. BUT you can buy-it-now for $3,000
Bid or Buy Now here: https://t.co/iaEDUlt9wn
Huge thanks to our host extraordinaire and ThursdayNights Board Member, @vincethompson, to The Fairmont team for their exceptional service & delicious offerings and to Craig Cochrane for capturing the night. Take a look at the full photo gallery here: https://t.co/z8GyFgsASJ
Special shout out to the organizations that made this evening possible:
@CooleyLLP - Where innovation meets the law
@Deloitte - Leading global professional services
@FourSeasons Resort Maui at Wailea - True luxury is belonging
@IMAfinancial - Protecting assets through integrated solutions
@jja_co - Executive Search for Growth & Innovation Leaders
Missed out this time and want to check out future events? Visit https://t.co/EKUW6F9TGg
The search and selection process for a key executive for your company is a campaign that will touch arguably the most important audience imaginable. It represents your company to a targeted set of talented, successful candidates who will all walk away with an impression of your “employer brand." Constant communication and managing expectations on all sides are key to our craft at @jja_co.
With decades of experience in this industry and over a thousand successful searches completed, we become each client’s brand ambassador. Who’s representing and minding yours?
Check the link in the comments to learn more about our process.
#Recruitment #HeadhuntingTips #TalentAcquisition #ExpectationManagement #HiringSuccess
Great insights from Appaloosa Management LP founder, David Tepper, on @CNBC's ‘Squawk Box’ regarding China’s major economic playbook update. With China's sinking economy and cash-strapped local governments, President Xi Jinping recently authorized economic support measures after two years of hesitation including targeted interest-rate cuts, liquidity support for local governments, and stock market interventions. Rather than a sweeping stimulus, Xi's strategy is all about stabilizing a wobbling system, not transforming it. The big question now: Will this tactical shift be enough to turn the tide?
While some analysts warn that without more robust support for household consumption and consumer-driven support, the policies may fall short of addressing deeper economic issues, David Tepper believes this could indicate a massive stimulus coming in for China–especially for undervalued Chinese equities and stimmy Yuan for households?
Amidst the pervasive Macro narrative surrounding the US election outcome, rate cuts and potential World War 3s, we think that Tepper and @WSJ are un-burying the lead here about Risk-on just ahead in 2025 and beyond. Tepper’s Apaloosa also voted with their (his) wallet! Monitor this story and weigh in with your own predictions.
#RiskOn #PrivateCapital #PE #Innovation #GrowthCaptial #WealthManagement
https://t.co/MICKj7gxip
https://t.co/3d2WJ5X2FU
Move over, traditional #startups! AI-natives are rewriting the rules of entrepreneurship. These digital wizards aren't just building AI companies—they're weaving AI into the very fabric of business.
What sets them apart? They're fluent in #AItech and its social impact, leveraging giants' #AI models for mind-blowing efficiency. The result? A total revolution in how we work, hire, and grow across every industry.
The kicker? Ventures once dismissed as pipe dreams are now #VC magnets. (Legal tech, anyone?)
Sure, skeptics abound. But while they debate, AI-natives are busy reshaping the #Fortune500. The future isn't just AI-powered. It's AI-native. Are you ready?
https://t.co/UcVdjKL14n
The #tech#jobmarket is experiencing a significant shake-up, with non-tech sectors outpacing the tech industry in tech hiring last year—a first in 11 years. This shift is partly due to #AI advancements leading to fewer, more specialized tech roles within tech companies.
However, the real story lies in the #AIRevolution's broader impact. We're witnessing a seismic shift where we believe with conviction that the biggest winners in the first wave of Gen AI will be non-tech companies that operationalize Gen AI (and what AI brings next) to cut costs, increase efficiencies and enhance both margins and growth
What we used to call 'brick and mortar' businesses are set to be the big winners, revolutionizing their operations with AI. This trend aligns with the current distribution of tech talent, where 55% of tech workers are already employed in non-tech companies. As AI continues to transform industries across the board, we can expect this tech talent migration to play a crucial role in shaping the future of work and business transformation.
#PrivateEquity has historically invested in these non-tech sectors and their portfolio companies stand to be the big winners. But are PE Operating platforms and value creation teams prepared to drive and shepherd these portco AI transformations?
https://t.co/93HptSBR88
The #tech & #digital landscape is undergoing a fundamental shift in the industry, with #AI at the epicenter of this transformation. With software development jobs down by a full one-third since 2020, once-coveted positions are vanishing, competition is high and salaries are normalizing to pre-2021 levels. Mega-scale tech employers have shed over 130,000 jobs this year alone, forcing even seasoned professionals to rethink their approach.
Amidst the chaos, while traditional tech roles face uncertainty, #AIspecialists are emerging as the new kings of Silicon Planet, with salaries up to four times higher than their peers. This AI gold rush is causing a ripple effect throughout all industries, scrambling to develop AI strategies and as importantly, operationalize AI.
For many in tech, it's a sobering reality check, but as AI continues to evolve, it’s clear that adaptability is key. What are you experiencing on the buy and sell-side of this talent market?
https://t.co/3D4Dm7XLG0
Last week, Capo restaurant (LA’s finest!) buzzed with energy at @thursnights Shot Callers Dinner as CxOs and Partners gathered, schmoozed and toasted the SoCal innovation ecosystem–all while supporting the kids of CARS (College Access, Readiness & Success). What a night!
Shout out to the anonymous donor that matched the $6,500 our community raised for CARS making the total haul for this awesome program $13K to support Arif Haji’s college-bound youth. To our entire ThursdayNights Community, your impact is truly felt!
Big thank you to Chef René for his exquisite cuisine, GM Frank Turisi and the entire Capo team for making this evening unforgettable.
Of course, none of this would have been possible without the generous longtime co-sponsorship of @CooleyLLP, @ForvisMazarsGrp, @FourSeasons Maui, @IMAfinancial, and @jja_co.
If you’re interested in upcoming events, visit https://t.co/EKUW6F9TGg
https://t.co/JdwvN18YgI
How important is #cultural fit when finding talent for your organization? At @jja_co, we believe that culture is the backbone of any successful business. It's not just about impressive titles, top compensation packages or Foosball; it's about creating an #environment that aligns the values of the team and the business enabling both to thrive. When we match exceptional leaders with outstanding organizations, great outcomes and a bit of magic happen.
Take a look at what others have to say about our placements here: https://t.co/F836rlwZzQ
Great time talking shop with Mark Concannon on his podcast, People Are The Point.
Watch the full episode here: https://t.co/OXFFOeKbn7
#LeadershipGoals #WorkCulture #ExecutiveSearch
#WallStreet vs. SEC: A Showdown in NOLA!
The future of #privateequity#regulation hangs in the balance as federal judges hear arguments challenging the SEC's authority against regulatory overreach. With $26 trillion at stake, this case could reshape how hedge funds and private-equity firms operate. Will the SEC’s rule mandating transparency about fees and conflicts of interest win, or will private capital fend off new rules? The Fifth Circuit's decision may set a precedent that echoes through the financial world. Stay tuned for a ruling that could impact everything from pension funds to regulatory power across industries.
https://t.co/0jw9DL3zdE