{"id":3672,"date":"2026-07-18T11:36:58","date_gmt":"2026-07-18T11:36:58","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=3672"},"modified":"2026-07-18T11:36:58","modified_gmt":"2026-07-18T11:36:58","slug":"im-an-example-of-what-ive-preached-dan-ives-knows-ai-has-a-pr-problem-but-it-led-to-his-massive-career-change-after-25-years-on-wall-street","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=3672","title":{"rendered":"\u2018I\u2019m an example of what I\u2019ve preached\u2019: Dan Ives knows AI has a \u2018PR problem\u2019 but it led to his massive career change after 25 years on Wall Street"},"content":{"rendered":"<div>\n<p>Now he is doing what he spent a decade and a half telling everyone else to do.<\/p>\n<p>\u201cLook, I\u2019m an example of what I\u2019ve preached over the years that AI will ultimately create more jobs than what it takes away,\u201d he told me in an interview, several weeks after leaving Wedbush Securities to launch Yorkville Ives, what he calls a \u201cmodern merchant bank\u201d with Yorkville Securities. \u201cIf it wasn\u2019t for the AI revolution and it wasn\u2019t for this period \u2026 I couldn\u2019t do something like this.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3670\">Peter Thiel just gave the public its closest look yet at his \u2018Antichrist\u2019 theory\u2014and it\u2019s a tech and climate regulator<\/a><\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>That\u2019s the short version of what happened. The longer version, Ives told <em>Fortune<\/em>, is that after 25 years covering other people\u2019s companies, he realized he had never actually built one himself \u2014\u00a0and he wanted to. \u201cAs an analyst I always talk about companies, whether good or bad, what they\u2019ve done. But I\u2019ve never built anything,\u201d he said. He has helped institutional investors make money and CEOs shape narratives, he added, but he felt the itch. \u201cI wanted to get off the treadmill and actually build something myself.\u201d<\/p>\n<h2>What the treadmill looked like<\/h2>\n<p>The first question, though, is just what he is building, actually.  Ives said he traces the merchant bank concept back to Thomas Weisel and the early Jefferies era of the 1990s \u2014 outfits that didn\u2019t just publish research but put their own capital into transactions. \u201cA lot of banks \u2026 they won\u2019t put their own money [in], they don\u2019t have the capital,\u201d he said. \u201cThat to me is really the key in terms of the difference with a merchant bank versus a typical investment bank.\u201d<\/p>\n<p>The merchant bank model Ives is describing largely disappeared from Wall Street over the past three decades, though, and the aforementioned Wiesel saw his firm\u2019s fortunes fluctuate along with the waves of tech boom and bust.<\/p>\n<p>The big integrated banks \u2014 Goldman, Morgan Stanley, JPMorgan \u2014 have enormous balance sheets but are governed by post-2008 regulations, particularly the Volcker Rule, that constrain proprietary risk-taking. The boutique advisory firms that emerged in their wake \u2014 Evercore, Lazard, Centerview, PJT \u2014 carved out strong advisory franchises but deliberately shed their balance sheets; their pitch to clients is independence, not capital. Private credit firms like Apollo and Ares have the capital, but they are lenders and owners, not research-driven advisors. <\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>The gap Ives is betting on is the space in between: a firm that can write the research note, advise on the deal structure, and also put its own money in \u2014 all from the same address. He insisted that there will be a traditional division between research and banking nevertheless. \u201cThere\u2019s a Chinese wall,\u201d he said. \u201cI\u2019m going to be spending all my time in research\u2014the same type of research that investors around the world have gotten to follow from me \u2026 that\u2019s what I love.\u201d<\/p>\n<p>The platform he\u2019s building with Yorkville is meant to cover the full spectrum \u2014 M&amp;A advisory, debt and convertibles, trading, tech-heavy research \u2014 but the distinguishing bet is on who the clients will be. Nvidia, hyperscalers, and other names that dominate every conversation are already fully served, while others are starved.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Over the last few years, he said, whether he\u2019s at the World Economic Forum in Davos or the Milken conference in California, he\u2019s seen \u201ca hole\u201d in funding for many great companies. \u201cMany companies look like the golden child of this market. They\u2019re getting called so much by investors and others they can\u2019t even pick up the phone.\u00a0But then there\u2019s so many other companies on the side of the public side, they\u2019re sort in the corner saying, \u2018Could anyone talk to us who could partner with us?&#8217;\u201d<\/p>\n<div>\n<div><\/div>\n<\/div>\n<h2>The same bullishness, new stakes<\/h2>\n<p>There\u2019s a version of this story where Ives is the analyst who drank his own Kool-Aid \u2014 a famous optimist who convinced himself that the AI boom he\u2019d been covering would make this the perfect moment to start a bank. He agreed, adding that \u201cIf you told me five years ago that we\u2019d be having this conversation, that was not on the bingo card.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3668\">So you want to buy a sports franchise? Why entering sports ownership gives the rich a \u2018very elite and exclusive club\u2019 with great tax benefits<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<p>The more charitable read is that after being paid for many years to be right about other people\u2019s companies, now he has skin in the game in the literal sense that defines merchant banking. Ives said he knows the proof will be in the pudding.  \u201cThis is not about doing it for a year, two years,\u201d he said. \u201cIt\u2019s about building something special for the next decade.\u201d<\/p>\n<p>The partnership carries one notable wrinkle: a subsidiary of Yorkville Americas has more recently become associated with President Donald Trump\u2019s financial world, serving as the investment adviser to the Truth Social Funds \u2014 a suite of \u201cAmerica First\u201d ETFs tied to Trump Media. Ives said the relationship predates that work and there is no connection to Yorkville Ives or Yorkille Securities: \u201cI\u2019ve known them for decades personally.\u201d<\/p>\n<h2>The shirt, and what it means<\/h2>\n<p>When asked about his notable taste in shirts, Ives described something more like an investment philosophy. Ever since he grew up on Long Island in the 1980s, he\u2019s been a \u201cpretty funky dresser.\u201d And although that was toned down when he got to Wall Street in the 1990s, \u201cover time I kind of ripped a Band-Aid off and just went with whatever works in that morning.\u201d<\/p>\n<p>He offered something like a YOLO, or \u201cyou only live once\u201d philosophy: \u201cSometimes you can make choices that might \u2014 you think they\u2019re right and ultimately, you look back and you should have gone left instead of right or whatever \u2026 but I\u2019m not gonna like live life like that.\u201d Ives quickly added that it\u2019s not like \u201cjumping off a cliff to get some Instagram picture,\u201d but when it comes to calculated risk, he likes to go for it.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<p>The philosophy is more personal than the loud shirts and media clips would suggest. Ives said that losing his parents over the past decade gave him a tolerance for calculated risk \u2014\u00a0\u201cI had great parents that passed away young and I\u2019m not afraid to stumble.\u201d From 2015 through 2025, he shared, he grappled with his father\u2019s case of Alzheimer\u2019s and his mother\u2019s case of Parkinson\u2019s \u2014\u00a0they died at 79 years old in 2025 and at 70 in 2020, respectively. The \u201cagony and pain\u201d his family endured \u201cput things (and work) in perspective and only one life to live. I am 51 today but I view life through a different lens than I did when I was 40 years old after going through this nightmare.\u201d<\/p>\n<p>When asked about the remarkable half-decade since the pandemic in financial markets, including what <em>The New York Times<\/em>\u2018 memorably called \u201cThe YOLO economy\u201d around the time of meme-stock mania, Ives didn\u2019t disagree. \u201cIt\u2019s still still kind of with us. We\u2019re still in the you-only-live-once era.\u201d Retail traders have a much bigger \u201cseat at the table\u201d than before that era, he said: \u201cThey\u2019re so much more dialed in and and they\u2019ve become a huge part of the market.\u201d<\/p>\n<p>He acknowledged that some of the excesses of this era have led to perception issues. \u201cAI has a PR problem,\u201d he said. \u201cThe average person looks at AI and [thinks] it\u2019ll take away my job and it\u2019s going to make my electricity bill higher.\u201d And over the coming year, he added, there could be \u201csome disruption on the job market, no doubt,\u201d but he disagrees with what he called the \u201cdystopian\u201d narrative and \u201ceven some of the bubble talk.\u201d<\/p>\n<p>He still thinks AI is in the third inning. He still thinks the buildout will last 20 to 30 years. He still thinks the biggest beneficiaries haven\u2019t surfaced yet. \u201cWe\u2019re going to look back on this period,\u201d he said, \u201cand realize this is building the Vegas Strip in 1955.\u201d I had to ask him: without the mobsters? Ives paused, \u201cWithout the mobsters.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3666\">Indeed chief economist: Aging Baby Boomers are America\u2019s real labor problem, not AI<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;We&#8217;re going to look back on this period,&#8221; the co-founder of Yorkville Ives told Fortune, &#8220;and realize this is building the Vegas Strip in 1955.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":3671,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018I\u2019m an example of what I\u2019ve preached\u2019: Dan Ives knows AI has a \u2018PR problem\u2019 but it led to his massive career change after 25 years on Wall Street - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=3672\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018I\u2019m an example of what I\u2019ve preached\u2019: Dan Ives knows AI has a \u2018PR problem\u2019 but it led to his massive career change after 25 years on Wall Street - Cross Country Moving Team\" \/>\n<meta property=\"og:description\" content=\"&quot;We&#039;re going to look back on this period,&quot; the co-founder of Yorkville Ives told Fortune, &quot;and realize this is building the Vegas Strip in 1955.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crosscountrymovingteams.com\/?p=3672\" \/>\n<meta property=\"og:site_name\" content=\"Cross Country Moving Team\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-18T11:36:58+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=3672#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=3672\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"headline\":\"\u2018I\u2019m an example of what I\u2019ve preached\u2019: Dan Ives knows AI has a \u2018PR problem\u2019 but it led to his massive career change after 25 years on Wall Street\",\"datePublished\":\"2026-07-18T11:36:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=3672\"},\"wordCount\":1423,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=3672#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/35044a43b859c01ef56187820b38a356.webp\",\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=3672#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=3672\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=3672\",\"name\":\"\u2018I\u2019m an example of what I\u2019ve preached\u2019: Dan Ives knows AI has a \u2018PR problem\u2019 but it led to his massive career change after 25 years on Wall Street - 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