We have a special bonus episode today taking you behind the scenes to discuss what makes a good podcast guest. I chatted with Deirdre Bolton, who has a long background in television and now coaches some of the world's top CEOs for media appearances at Prosek Partners. We talked about the differences between tv and podcasts and how you can be effective on both.

Most people think being a great interview guest is just about having something smart to say. But the reality is, what works on TV can completely fall apart in a podcast, and vice versa. We dig into what separates good guests from great ones and why the best communicators approach these formats in totally different ways.

On TV, that preparation shows up as clarity and discipline, the ability to lead with the headline and make every second count. In podcasting, it shows up as depth, the willingness to unpack ideas, show your thinking, and let the audience see how you arrive at conclusions.

But in both cases, the best guests do the same thing: they do the work ahead of time so they can sound natural when it matters. They know their material, they've thought through their stories, and they're willing to be candid enough to actually share what makes them special.

Deirdre Bolton is Partner and Head of Executive Development at Prosek Partners, where she works with CEOs, founders, and senior executives to sharpen their communication for high-stakes moments. A former TV anchor and journalist at ABC News, Fox Business Network, and Bloomberg TV, she's known for translating complex financial and economic topics into clear, accessible narratives. At ABC News, she covered major global events including the pandemic's economic impact and the war in Europe, and throughout her career has reported on defining moments such as the 2008 financial crisis and launched Bloomberg's "Money Moves with Deirdre Bolton," focused on capital flows into alternative assets. She began her career on Wall Street as an institutional equity sales trader before moving into broadcast journalism.

Please enjoy my discussion with Deirdre Bolton.

Deirdre Bolton: https://www.prosek.com/our-people/deirdre-bolton/

If you like these discussions, please subscribe or leave a review.

NOTE: This podcast is for educational and entertainment purposes only. Anything said by the guests or host should not be construed as legal or investment advice. Thanks for listening.

Joe Reilly is the head of Circulus Group, a family office network, and the host of The Inheritance Podcast.

FOLLOW JOE: https://twitter.com/joereillyjr

WEBSITE: https://circulus.substack.com/

INHERITANCE PODCAST: https://podcasts.apple.com/us/podcast/the-inheritance-podcast/id1644964

If you like this show, leave us a rating or review. I appreciate it.

S5E8

©2026 Joe Reilly

Peter Kraus has occupied a front-row seat to the transformation of modern finance. His journey began not on a trading floor, but in the rigorous world of accounting at Peat Marwick, where he consulted on the bankruptcy of New York City and the historic breakup of AT&T. That foundation led him to a legendary 22-year run at Goldman Sachs, where he rose from a mortgage securities pioneer to Co-Head of GSAM and a key architect of the firm's strategy. He then spent a decade rebuilding AllianceBernstein after they lost half their assets in 2008. Along the way, he and his wife Jill have become two of the world's largest contemporary art collectors. In this episode, he joins us to reflect on forty years of institutional history, the shift from agency-led to counterparty-led banking, how he went from hating to loving the art of Rudy Stingel, and why his latest venture, Aperture Investors, is the culmination of a lifelong search for the perfect alignment between manager and client.

Peter Kraus is the Chairman and CEO of Aperture. For over four decades, Peter has worked at major financial institutions, including Goldman Sachs, Merrill Lynch, and most recently at AllianceBernstein, where he served as Chairman and CEO, successfully leading the firm's turnaround after the crisis in 2008. Throughout his career, Peter has been a vocal proponent of pay-for-performance compensation models and the need for trust between active managers and their clients.

After years of watching diminishing returns and increasing outflows, he concluded that a disruptive idea like performance-linked fees would only be successful in an entirely new firm, one built from scratch with client performance as its primary objective. As a result, in 2018, Peter partnered with Generali to launch Aperture Investors.

Peter serves on the boards of multiple organizations, including Chairman of the Robert Rauschenberg Foundation, the co-founder of the Kraus Family Foundation, a non-profit that supports public art and emerging artists, and Chairman of Marstone LLC.

Peter received his B.A. in economics from Trinity College and his M.B.A. from NYU's Stern School of Business.

Please enjoy my conversation with Peter Kraus.

Aperture Investors: https://apertureinvestors.com/bio/peter-kraus

If you like these discussions, please subscribe or leave a review.

NOTE: This podcast is for educational and entertainment purposes only. Anything said by the guests or host should not be construed as legal or investment advice. Thanks for listening.

Joe Reilly is the head of Circulus Group, a family office network, and the host of The Inheritance Podcast.

FOLLOW JOE: https://twitter.com/joereillyjr

WEBSITE: https://circulus.substack.com/

INHERITANCE PODCAST: https://podcasts.apple.com/us/podcast/the-inheritance-podcast/id1644964

If you like this show, leave us a rating or review. I appreciate it.

S5E7

©2026 Joe Reilly

Sebastian Mallaby, a British journalist, author, and senior fellow at the Council on Foreign Relations, is renowned for his expertise in international economics, finance, and in-depth biographies. He has been a two-time Pulitzer Prize finalist and has authored notable books such as "The Power Law: Venture Capital and the Making of the New Future," "More Money Than God: Hedge Funds and the Making of a New Elite," and biographies of Alan Greenspan and James Wolfensohn.

Four years ago, I had the pleasure of interviewing Sebastian on the inaugural episode of the Private Capital podcast, where we discussed "The Power Law." I was particularly intrigued by his latest book, The Infinity Machine. In this book, Sebastian delves into the life of the chess prodigy, founder of DeepMind, and Nobel Prize winner, Demis Hassabis. He provides a comprehensive account of the history of artificial intelligence leading up to the groundbreaking release of ChatGPT by DeepMind's competitor, OpenAI. Sebastian meticulously documents the significant battle between the tech giants that ensued.

Sebastian's writing process is intense, and he possesses a remarkable talent for simplifying the complexities of various fields, including hedge funds, venture capital, the World Bank, the Federal Reserve, and now AI. The Infinity Machine stands out as one of the most insightful and thought-provoking books I've read on AI and its far-reaching implications, especially his conviction that OpenAI will probably go bust.

Please enjoy my conversation with Sebastian Mallaby.

Buy the book: The Infinity Machine: Demis Hassabis, DeepMind, and the Quest for Superintelligence

If you like these discussions, please subscribe or leave a review.

NOTE: This podcast is for educational and entertainment purposes only. Anything said by the guests or host should not be construed as legal or investment advice. Thanks for listening.

Joe Reilly is the head of Circulus Group, a family office network, and the host of The Inheritance Podcast.

FOLLOW JOE: https://twitter.com/joereillyjr

WEBSITE: https://circulus.substack.com/

INHERITANCE PODCAST: https://podcasts.apple.com/us/podcast/the-inheritance-podcast/id1644964

If you like this show, leave us a rating or review. I appreciate it.

S5E6

©2026 Joe Reilly