One piece a week on AI strategy.

PE Closed 104 Accounting Deals in 2025. They’re Not Buying Cash Flow.

Cornerstone recorded 104 PE deals in accounting in 2025. What a buyer pays at exit depends on whether the new offerings already have clients.

The Big Four Spent $10 Billion on AI. There’s Ground They Still Can’t Occupy.

The Big Four invested more than $10 billion in AI and can now serve mid-market clients profitably. They still cannot send the partner who already knows the client.

‘AI Is Eating the Agency Business.’ Your Vertical Is 18 Months Behind.

Agencies are 18 months ahead of law and accounting. The ones that grew changed what they sell. That playbook applies to every professional services vertical.