Money 20/20 | Las Vegas | October 26 - 29
Citi SPRINT | New York | November 20
Fintech Specialty Finance Forum | Dana Point | December 9 - 11
Ourdefault at Pier is to move fast, and it is a significant reason we win deals.So it is important that we deliberately add friction to ensure our decisionsare thoughtful and our work is up to the highest standards. One recent example:Jonathan, our head of operations, suggested a cooling-off step before wepublish reporting or newsletters. The pause is brief, sometimes only eighthours, but it creates room for fresh thinking and catches details that a quickreview might miss.
We use a similar mindset in our investment committee. While no one is formallyassigned as a devil’s advocate, we routinely ask each deal lead, “What is a reason someone could give forwhy we shouldn’t do this deal?” This simple question forces a lookat potential blind spots and strengthens the decision.
A short, intentional pause, whether in publishing or in investment discussions,adds just enough friction to make our work sharper and our choices stronger.
- Jillian


Why do firms look for athletes when hiring new grads? Not forwisdom or skill.
“Companies hire new gradathletes because they are looking for people who compete hard, take winsand losses in stride, and know how to be good teammates.” - Moses Kagan
AI has taken over the repetitive, entry-level tasks that used to be trainingground. What’s left is the real reason juniors were hired in the first place:energy.
“New grads, you aren’t wanted…Your only advantage: Energy. Answer emails 24/7 in 30 seconds. Respondinstantly. And go find things to do!” - Nick Huber
That’s the differentiator now. Machines can draft a memo, but they can’thustle, anticipate, or chase opportunities.
At Pier, we want energy. People who love autonomy. People who see “go findthings to do” as a challenge, not a burden. In an AI-enabled workplace,structure followers risk being automated. Autonomy seekers will thrive.
– Conor
A ShotgunPleading describes when a party files an excessive number oflegal claims—often poorly organized, overlapping, or lacking clear reasoning.These are sometimes called “kitchen sink” pleadings because the filer throws inevery conceivable argument hoping to confuse the court and their opponent,or simply to see if one or two claims stick.
Shotgunpleadings are especially common in debt collection where debtors can referenceawide array of complex regulations across jurisdictions andareaided by half baked online resources and AI generated responses. Onone handthis tactic can be effectivesince debt providers mustcarefully demonstrate compliance with those regulations. On the other hand,such pleadings clog up courtand regulator resources, many of whom are rightfully pushing back againsttheir misuse.
Staying on theme from last month, Paul Graham is one of the greatessayists (ok, ok bloggers) of the internet era. His work can be found onhis charmingly vintage website. "How To Do Great Work" is a good place to start and his essays on how to write well ("Good Writing" and "Writing, Briefly," for example) are perennial classics that anyone could benefit from reading.
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