# Goldman Sachs Breaks M&A Records | Investment Banking Boom | Snap's $120B Collapse

Page: https://stenobird.com/podcast/market-maker-3553881/goldman-sachs-breaks-m-a-records-investment-banking-boom-snap-s-120b-collapse
Text version: https://stenobird.com/podcast/market-maker-3553881/goldman-sachs-breaks-m-a-records-investment-banking-boom-snap-s-120b-collapse.md
Podcast: [Market Maker](https://stenobird.com/podcast/market-maker-3553881)
Published: 2026-06-29T05:00:00+00:00
Episode link: https://podcasters.spotify.com/pod/show/amplify-me/episodes/Goldman-Sachs-Breaks-MA-Records--Investment-Banking-Boom--Snaps-120B-Collapse-e3la3dp
Audio file: https://anchor.fm/s/1058df0d0/podcast/play/122014585/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-5-26%2F426859853-44100-2-23f9750ce02ff.mp3
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JSON: https://stenobird.com/v1/public/podcasts/market-maker-3553881/episodes/goldman-sachs-breaks-m-a-records-investment-banking-boom-snap-s-120b-collapse
Duration seconds: 2951

## Resource

Goldman Sachs has advised on more than $1 trillion of mergers and acquisitions in record time, highlighting the return of blockbuster dealmaking. We explain what's driving the surge in investment banking activity, why AI is fuelling both M&A and IPOs, and what it means for markets. We also break down the growing crisis at Thames Water, why nationalisation is back on the table, and how years of private equity ownership led to one of the UK's biggest corporate challenges. Finally, we analyse Snap's dramatic decline from a $130 billion company to under $10 billion, why its founder-led governance matters, and whether its bet on augmented reality glasses can ever pay off. (00:00) Coming Up (02:32) Goldman Sachs Hits $1 Trillion (06:08) M&A League Tables 1H26 (09:08) IPO Markets Returns (17:29) What Next for M&A (19:11) Thames Water Explained (24:32) Special Administration Regime (32:27) Can Thames Water Be Saved? (36:54) Snap's $120B Collapse (40:07) The Founder Control Problem (45:24) Does ESG Still Matter?

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## Transcript

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