An Activist Artist & Elon’s Magical Thinking

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Happy Sunday, and welcome back to Dry Powder.

It’s hunting season for activist investors: Elliott’s wunderkind Jesse Cohn is leading the firm’s aggressive, multi-billion dollar stake in Marc Benioff’s Salesforce, and so the question becomes, how worried should Benioff be? Today, a look at Cohn’s history for clues. Plus, my thoughts on who might replace Lael Brainard as the Fed’s vice chair, and how Elon’s Twitter folly is really affecting Tesla.

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Elliott or High Water

News and notes about the inside chatter on Wall Street: Can Marc Benioff defang Elliott’s Jesse Cohn? Could Larry Summers be wooed back to Washington? And Elon fundraising fantasies...

WILLIAM D. COHAN

Last week, the biggest news at the crossroads of Wall Street and Silicon Valley was Elliott Management’s announcement of a multi-billion dollar position in Marc Benioff’s Salesforce, Inc. “Salesforce is one of the preeminent software companies in the world, and having followed the company for nearly two decades, we have developed a deep respect for Marc Benioff and what he has built,” Jesse Cohn, the wunderkind activist at Elliott, said in a dose of marvelous understated grin-fucking...

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