Inflation + Best Professional Advice + Barstool Sports

👉🏼 How has your business been impacted by inflation? Simply, our net interest margin, which is the spread between our cost on deposits and what we lend money at, is down substantially. This has caused us to make less net profit than we budgeted for 2023. This is an issue for most banks as they are all reliant on net interest margin in their business. Larger regionals and money center banks have other sources of revenue, like revenue from advisory businesses like investment banking, but they are still reliant on net interest margin. 💡 What's the best professional advice you ever received? Best professional advice I’ve ever received was coming out of graduate school when I was encouraged to go work for a bank in their commercial banking analyst program. I was basically encouraged to take advantage of the opportunities to learn banking, but still get paid at the same time.