Pimco CEO Doesn't Expect Many Mergers, Says They're Too Hard to Do Via Zoom

The transcript discusses the dynamics of mergers and acquisitions, particularly in the context of PIMCO's strategy, which emphasizes organic growth and maintaining a strong company culture. It highlights the significant investment in technology and its impact on smaller asset managers, who may reconsider their independence. The challenges of conducting mergers virtually, especially via platforms like Zoom, are also addressed, emphasizing the importance of face-to-face interactions for successful mergers.

What does the speaker mean by 'breaking bread' in the context of negotiations?

What challenges does the speaker identify regarding conducting mergers via modern media?