No Priors: Sequence Holdings' $7.7B take-private of Baldwin and the case for AI-era holding companies

No Priors · rss · 2026-09-24

No Priors host Sarah Guo talks with Sequence Holdings co-founder and CEO Michael Lee on transforming legacy incumbents with AI rather than replacing them. Key points: a $7.7B take-private of Baldwin alongside Dell Family Office; why traditional consulting and software sales fall short for enterprise AI transformation; the compounding logic of permanent holding company structures; real results applying frontier engineering at BankSouth; plus the Atlas platform, engineer recruiting, and lessons from his investing and PE career.

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