Wasserstein Perella & Co.

And so the majority of those people said, "You know, Jonathan, I'd really like to see..." Or not even really like to.

"If there's something you're gonna build in the building, I think a gym would be great." And I'd say, "Okay." And some would mention, "Oh, I was just over at, uh, Wasserstein Perella, and I was over at this office, and they have a gym.

And, you know, they're 100,000 square feet.

I'm 8,000 square feet with you, right? We don't have the space to put in a gym.

You know how they were punished? In the mid 80s, they separated from First Boston and created a boutique investment bank.

That's a kind of scary word for me, boutique investment bank, called Wasserstein Perella.

And we talked about Wasserstein-Perella in the last session, right? Single-handedly, this Alfred brought in the practice evaluation six notches.

And you know how they were punished for all those bad practices? In the early 1990s, Dresner bought Wasserstein-Perella for $2 billion.

In fact, the two guys who ran First Boston were called Bruce Wasserstein and Joe Perrella.

And if you remember, they founded Wasserstein Perella, who did what? Couldn't value $20 in a brown paper bag.

And they made a lot more money.

And finally, as punishment, Dresner bought Wasserstein Perella for $2.5 billion.

There's no justice in this world.

You can do incredibly stupid things and keep rising up the ranks.