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Exchanges on the M&A and IPO landscape. Exchanges on the dynamics affecting global trade. For the sharpest analysis on finance, business, and the economy, count on Exchanges. The Goldman Sachs Podcast. Listen now.

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Support for the show comes from Quince. If you've spent the last few months sweating in the same few t-shirts you've been wearing for years, it might be time for a wardrobe refresh. Enter Quince. Quince specializes in everyday staples that work harder, like their ultra soft organic cotton tees and premium Mongolian cashmere sweaters. Quince makes it easy to upgrade from the same old, same old worn out basics. They have premium denim and tailored chinos from just $60 with the kind of perfect fit, structure and high quality fabrics you'd expect from a luxury designer brand. Everything at Quince is priced 50 to 80% less than similar brands. They work directly with ethical factories and cut out the middlemen. So you're paying for high quality, not brand markup. I wear Quince myself and I can vouch that it is extremely great value and really high quality materials. And I wear it all the time. Upgrade your everyday. Download the Quince app for app exclusive offers or go to quince.com/markets to get free shipping on your order and 365 day returns. Now available in Canada and the UK too.

Support for the show comes from Vanta. If you're running a company today, you know that trust is what closes deals. Your buyers want proof you're secure, and increasingly, they won't sign until they see it. Here's what usually happens. A prospect asks for your SOC 2 report, and the deal stalls while you scramble. An engineer gets pulled off the roadmap to prep for an audit that's months away. Every enterprise conversation turns into a fire drill. That's where Vanta comes in. Vanta is the market-leading agentic trust platform that gets you compliant fast with in-demand frameworks, including SOC2, ISO 27001, and HIPAA, and keeps you there. And now, you can access the Vanta agent everywhere you work, whether your team is working out of Vanta every day or working in other AI or SaaS tools, including Claude and Cursor. That's why Vanta is trusted by more than 16,000 companies, including Ramp, Harvey, and Ryder. Prove you're ready for business. Learn more at Vanta.com slash markets.

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When you need to build up your team to handle the growing chaos at work, use Indeed Sponsored Jobs. It gives your job post the boost it needs to be seen and helps reach people with the right skills, certifications, and more. Spend less time searching and more time actually interviewing candidates who check all your boxes. Listeners of this show will get a $75 sponsored job credit at Indeed.com slash podcast. That's Indeed.com slash podcast. Terms and conditions apply. Need a hiring hero? This is a job for Indeed Sponsored Jobs.

Support for the show comes from Z Biotics. After a night out on the town, your body just can't bounce back like it used to. It seems like you're forced to choose between a great night or a great next day. Well, that can change with pre-alcohol. Z Biotics pre-alcohol probiotic drink is the world's first genetically engineered probiotic. It was invented by PhD scientists to tackle rough mornings after drinking. Here's how it works. When you drink, alcohol gets converted into a toxic byproduct in the gut. It's a buildup of this byproduct, not dehydration that's to blame for rough days after drinking. Pre-alcohol produces an enzyme to break this byproduct down. Just remember to make pre-alcohol your first drink of the night, drink responsibly, and you'll feel your best tomorrow. With pre-alcohol you don't need to choose between a fun evening and a great next day, especially when July is packed with barbecues, fireworks, lake weekends and late nights with friends. Keep the good times rolling into the next day. Drink pre-alcohol before you go out and wake up ready for whatever Sunday brings. Remember to head to zbiotics.com slash prof g and use the code prof g at checkout for 15% off.

Support for the show comes from Vanta. If you're running a company today, you know that trust is what closes deals. Your buyers want proof you're secure, and increasingly, they won't sign until they see it. Here's what usually happens. A prospect asks for your SOC 2 report, and the deal stalls while you scramble. An engineer gets pulled off the roadmap to prep for an audit that's months away. Every enterprise conversation turns into a fire drill. That's where Vanta comes in. Vanta is the market-leading agentic trust platform that gets you compliant fast with in-demand frameworks, including SOC 2, ISO 27001, and HIPAA, and keeps you there. And now you can access the Vanta agent everywhere you work, whether your team is working out of Vanta every day or working in other AI or SaaS tools, including Claude and Cursor. That's why Vanta is trusted by more than 16,000 companies, including Ramp, Harvey, and Ryder. Prove you're ready for business. Learn more at vanta.com slash markets.

Support for the show comes from Upwork. If you're a seasoned business owner, you've definitely been in a position where you need to hire outside help. But here's the thing. Hiring that help often creates totally new problems. Upwork exists to streamline that whole process. Upwork is a one-stop platform to find, hire, and pay expert freelancers. You get fast access to specialized talent across more than 125 categories. On Upwork, you can browse profiles, review past work and get help scoping the role so you can hire with confidence and get started quickly. You also don't need to let the operational tedium get in your way since Upwork handles things like contracts and payments. They also have Business Plus, which gives you access to the top 1% of talent on the platform. With AI-powered shortlisting, you'll get matched to the right freelancer in under six hours. No endless searching required. Visit upwork.com slash markets right now and post your job for free. That is upwork.com slash markets to connect with top talent ready to help your business grow.

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Please borrow responsibly. Support for the show comes from BCX, the public ticker for private tech. For generations, American companies have moved the world forward through their ingenuity and determination. And for generations, everyday Americans could be a part of that journey through perhaps the greatest innovation of all, the U.S. stock market. It didn't matter whether you were a factory worker in Detroit or a farmer in Omaha, anyone could own a piece of the great American companies. But now that's changed. Today, our most innovative companies are staying private rather than going public. The result is that everyday Americans are excluded from investing and getting left further behind while a select few reap all the benefits. Until now. Introducing VCX, the public ticker for private tech, now available wherever you buy stocks. VCX by Fundrise gives everyone the opportunity to invest in the next generation of innovation, including the companies leading the AI revolution, space exploration, defense tech, and more. Visit GetVCX.com for more info. That's GetVCX.com. Carefully consider the investment material before investing, including objectives, risks, charges, and expenses. This and other information can be found in the fund's prospectus at GetVCX.com. This is a paid sponsorship.

Please borrow responsibly. Support for the show comes from BCX, the public ticker for private tech. For generations, American companies have moved the world forward through their ingenuity and determination. And for generations, everyday Americans could be a part of that journey through perhaps the greatest innovation of all, the U.S. stock market. It didn't matter whether you were a factory worker in Detroit or a farmer in Omaha, anyone could own a piece of the great American companies. But now that's changed. Today, our most innovative companies are staying private rather than going public. The result is that everyday Americans are excluded from investing and getting left further behind while a select few reap all the benefits. Until now. Introducing VCX, the public ticker for private tech, now available wherever you buy stocks. VCX by Fundrise gives everyone the opportunity to invest in the next generation of innovation, including the companies leading the AI revolution, space exploration, defense tech, and more. Visit GetVCX.com for more info. That's GetVCX.com. Carefully consider the investment material before investing, including objectives, risks, charges, and expenses. This and other information can be found in the fund's prospectus at GetVCX.com. This is a paid sponsorship.