I don't want to pick on Deutsche Bank, but I think the world of the regulated financial conglomerate, it is a strange thing. There is nothing in common between writing checks and running branch offices, issuing credit cards - those are good businesses, but they really have zero in common with M&A advice. They're a different customer.

Whatever it is, in a 1% GDP world, I think people feel like there are other things they have to do other than just organic growth.

The consensus is a very dangerous thing to get complacent about.

We're a small part of this ecosystem. When we go to a school and talk about investment banking, they are these monster financial conglomerates, and so we end up in the same pot. That is still an issue for us.

I do think [in USA] is a need for change. There is something wrong when you have $20 trillion of debt and crumbling infrastructure at the same time, and really fewer people employed than have been. Something is wrong.

It was phenomenal to see what was going on there. I came away from there so energized about India, and I was pretty sure that [Narenda] Modi was going to win an election that wasn't easy to see.

[Millennials ] are sharing cars. They're sharing apartments. I'm not sure my generation quite knows how to take advantage of it.