History doesn’t repeat itself, but it often rhymes. Manhattan has been home to many a glory day for different businesses. The 1960s had its Mad Men era, when advertising companies dominated on Madison Avenue, and the 1980s saw the “decade of greed,” when Wall Street firms gobbled their way to new heights of power.

Now, AI companies are staking their claim on the 2020s via downtown, where firms like Anthropic are growing footprints and competing with Wall Street giants for top young talent. That said, what comes after the boom period is perhaps more defining of each era. Crack open an encyclopedia if you’re unsure.

In today’s edition:

✂️ Restructuring realities

❌ Guidance rescinded