The Carry archive.
Every edition of The Carry. The week in private equity, from the shows the industry actually listens to.
Issue No. 1 · Sunday, July 19, 2026
The software valuation gap, walking away post-LOI, and AI8
Public buyers are beating private equity by manufacturing their own effective multiples.
Issue No. – · Sunday, July 12, 2026
Weaponizing deal structure, the safe asset illusion, and AI models
Plus: Why the "widest moat" strategy actually stunts growth, and how venture investors limit adverse selection.