top of page
BYS Originals


You bought the business. What’s left to run it?
The closing wire funds the purchase. This BYS analysis explains why buyers must separately model the working capital and operating liquidity the business needs after the handoff.
8 hours ago5 min read


The Purchase Price Is Not the Most Important Number
The headline price matters less when the remedy fails on the deal’s worst day after closing. How indemnification, covered losses, baskets, caps, and recovery sources shape the real economics of an acquisition.
1 day ago4 min read


The Most Dangerous Word in an M&A Letter of Intent
An LOI may not require you to close, but its terms, omissions, and silences can determine the deal you are able to negotiate.
Aug 284 min read
The Briefing


The Debt May Fit. The Deduction May Not.
A lender can approve the debt and the deal can still produce less after-tax cash than the buyer expected. Here is where Section 163(j) enters the model.
Aug 284 min read
Browse All Articles


You bought the business. What’s left to run it?
The closing wire funds the purchase. This BYS analysis explains why buyers must separately model the working capital and operating liquidity the business needs after the handoff.
8 hours ago5 min read


The Purchase Price Is Not the Most Important Number
The headline price matters less when the remedy fails on the deal’s worst day after closing. How indemnification, covered losses, baskets, caps, and recovery sources shape the real economics of an acquisition.
1 day ago4 min read


The Debt May Fit. The Deduction May Not.
A lender can approve the debt and the deal can still produce less after-tax cash than the buyer expected. Here is where Section 163(j) enters the model.
Aug 284 min read


The Most Dangerous Word in an M&A Letter of Intent
An LOI may not require you to close, but its terms, omissions, and silences can determine the deal you are able to negotiate.
Aug 284 min read


The Business of Being Yourself: How Gawx Art Built a Creative Empire Without Selling Out
Gawx Art in his creative space, where his unique artistic vision has transformed into a global brand. His journey from independent artist to entrepreneur showcases the power of authenticity in business. | Image via Samsung Semiconductor Gawx Art never set out to be an entrepreneur. He just wanted to draw. A kid from Mexico, sketching intricate, chaotic, mind-bending doodles, sharing his work online for no other reason than the pure joy of creating. But when millions of peopl
Jul 284 min read


What Primes Actually Want From Public Works Subcontractors
I spent time this week in rooms with major infrastructure primes doing hundreds of millions of dollars in public agency work for Metro, LAWA, LACCD, and other Southern California agencies. They told a room full of subcontractors exactly what they want from their subcontractor partners. It was not what most subs expect to hear. How Public Works Subcontractors Get on a Prime’s Team Before the Bid Drops One of the clearest themes from the conversations was timing. By the time an
May 275 min read
bottom of page
