Investment banking is a business of relationships. Relationships are like quid pro quos but fuzzier: Rather than an exchange of "I give you Thing X, and you give me Thing Y," the deal is more like "oh you like Thing X? Here, have it, it looks great on you. Nonono, no charge, just happy to help." Then you go make a note of it in your spreadsheet, and your spreadsheet has a column for "expected return," and in that column you write, "he will give me Thing Y and Thing Z."1
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