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Brex was once valued at $12.3B. Capital One just bought it for $5.15B.
In today’s episode of Market Outsiders, Jenny Rae and Namaan break down why Capital One was willing to buy Brex at a $7B discount – and what the deal actually tells us about fintech valuations, banking strategy, and the future of credit cards.
We unpack:
Why the 50% cash / 50% stock structure reveals who really had leverage
What Capital One is actually buying
Whether this is a smart buy vs. build move or a risky integration bet
The bigger question: Is this how banks future-proof growth in financial services – or an example of catching a falling knife?
Episode Links:
Capital One is buying startup Brex for $5.15 billion in credit card firm’s latest deal (CNBC)
Partner Links:
Learn more about NordStellar's Threat Exposure Management Program; unlock 10% off with code SIMPLIFIED-10
Chapters:
00:00 The $7B Brex Discount
05:40 What Brex Actually Does
09:30 Why the $12B Valuation Broke
14:50 What Capital One Is Buying
18:30 Cash vs. Stock Leverage
22:05 Revenue Synergies vs. Risk
26:40 Fit with Capital One’s Card Strategy
30:55 Market Reaction Explained
34:30 Smart Bet or Falling Knife
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Schedule free 15min consultation with the MC Team.
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In this short episode, Japheth Mast shares what’s new in the data – and what it means if you’re recruiting for consulting this year.

You’ll hear 3 key takeaways from the report, including why starting salaries stayed flat, where compensation growth is happening, and how utilization trends are shaping hiring.
👉 Download the full 2026 Consulting Salary Report (free).
Additional Resources:
Get full prep support with Black Belt
Partner Links:
Learn more about NordStellar's Threat Exposure Management Program; unlock 10% off with code SIMPLIFIED-10
Connect With Management Consulted
Schedule free 15min consultation with the MC Team.
Watch the video version of the podcast on YouTube!
Follow us on LinkedIn, Instagram, and TikTok for the latest updates and industry insights!
Join an upcoming live event - case interviews demos, expert panels, and more.
Email us ([email protected]) with questions or feedback.

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What does it actually take to succeed in consulting — beyond frameworks and technical skills?
In this episode of Consulting Unpacked, Jenny Rae Le Roux breaks down the five core skills consultants rely on every day — the same ones firms test for in case interviews and reward once you’re on the job.
You’ll learn:
Why structured thinking isn’t just about frameworks
How prioritization and communication separate top performers from everyone else
The mindset that helps great consultants grow
If you’re preparing for interviews, already in consulting, or deciding whether this career path makes sense for you, this episode gives you a clear lens on what really matters.
Additional Resources:
Create a free profile + access the Job Board (1K+ jobs)
Take the Consulting Fit Quiz (free self-assessment)
Get full prep support with Black Belt
Partner Links:
Learn more about NordStellar's Threat Exposure Management Program; unlock 10% off with code SIMPLIFIED-10
Connect With Management Consulted
Schedule free 15min consultation with the MC Team.
Watch the video version of the podcast on YouTube!
Follow us on LinkedIn, Instagram, and TikTok for the latest updates and industry insights!
Join an upcoming live event - case interviews demos, expert panels, and more.
Email us ([email protected]) with questions or feedback.

Send us a text
College football isn’t just a game anymore, it’s a business. On this episode of Market Outsiders, Jenny Rae Le Roux and Namaan Mian break down how wins on the field translate into dollars off it, sparked by Indiana University’s surprising national championship run. 
From media deals and ticket sales to donations and NIL money, Namaan lays out the six revenue engines powering modern college football - and why performance is everything. 
Finally, Namaan and Jenny Rae explore the high-stakes decisions university leaders face as they invest in their programs, align leadership, and compete in a rapidly changing sports economy.

Chapters:
00:00 Introduction to College Football Business
02:41 The Financial Landscape of College Football
04:58 Key Revenue Streams for Athletic Departments
12:20 Investing in Coaching and Program Alignment
20:59 The Impact of NIL on College Sports
28:55 Conclusion and Future Considerations
Partner Links:
Learn more about NordStellar's Threat Exposure Management Program; unlock 10% off with code SIMPLIFIED-10
Connect With Management Consulted
Schedule free 15min consultation with the MC Team.
Watch the video version of the podcast on YouTube!
Follow us on LinkedIn, Instagram, and TikTok for the latest updates and industry insights!
Join an upcoming live event - case interviews demos, expert panels, and more.
Email us ([email protected]) with questions or feedback.

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Saks Fifth Avenue has filed for bankruptcy.
After years of warning signs – including its Neiman Marcus acquisition and Amazon’s investment – the iconic luxury retailer is officially on life support.
In this Market Outsiders episode, Namaan and Jenny break down what actually went wrong behind the headlines. They cover:
Why the Neiman Marcus deal failed to deliver real synergies
How junk-bond financing and cash-flow missteps pushed Saks into bankruptcy
What happens next – and whether Saks can realistically be rebuilt
This isn’t just a retail story. It’s a case study in leverage, dealmaking, and what happens when strategy can’t outrun structural change.
Episode Links:
Amazon says its Saks investment is now worthless (CNBC)
How the Neiman Marcus acquisition pushed Saks into bankruptcy (CNBC)
Previous episode:
Saks on Amazon Signals Luxury in Crisis – Our original breakdown of Amazon’s stake and why the strategy looked fragile from the start
Partner Links:
Learn more about NordStellar's Threat Exposure Management Program; unlock 10% off with code SIMPLIFIED-10
Chapters:
00:00 Introduction to Saks Fifth Avenue's Bankruptcy
02:31 Understanding the Acquisition of Neiman Marcus
05:47 Revenue and Cost Synergies Explained
09:33 The Role of Cash Flow in Business
13:24 Amazon's Investment and Its Implications
16:47 Potential Paths for Saks's Revival
21:36 The Future of Luxury Retail
Connect With Management Consulted
Schedule free 15min consultation with the MC Team.
Watch the video version of the podcast on YouTube!
Follow us on LinkedIn, Instagram, and TikTok for the latest updates and industry insights!
Join an upcoming live event - case interviews demos, expert panels, and more.
Email us ([email protected]) with questions or feedback.