AI roll-ups

The pieces, in reading order

1. Part 1

   McKinsey's $5 trillion of small businesses for sale: how "up to" became "will change hands", one quote at a time

   A post with 1.9 million views says McKinsey expects $5 trillion of American businesses to change hands by 2035. I followed that sentence back to McKinsey's page, one quote at a time, and watched the words fall off on the way.

2. Part 2

   AI companies are spending billions buying firms. Here's which of their numbers anyone has checked

   AI companies are buying accountants, IT firms and lettings agents, and billions are riding on it. Every number I could check, sorted into what the filings show, what the buyers say and what nobody has measured, dated 26 October 2026.

3. Part 3

   AI companies are buying firms on borrowed billions. If it goes wrong, the firms pay

   When an AI buyer takes over a business with borrowed money, the lenders' claim is on the business it bought. In four completed deals that business borrows the loan, guarantees it or pledges its assets. Amex GBT already backed a $1,486m loan before its AI buyer added $1bn of notes. Checked 28 October 2026.

4. Part 4

   An AI company wants to buy your firm. Its own job adverts show what it would do, and most of it you can do yourself

   AI-backed buyers are approaching small accountancy, lettings and IT firms. Their own job adverts show the first months after a sale: moving data, consolidating accounts, ending leases, months on site with your staff. Which of those steps you can take without selling, and the question to ask before you sign.

5. Part 5

   An AI company wants to buy your firm? Ask it to prove the AI works first

   AI-backed companies worth billions are buying accountants and IT firms. If one calls you, here is what proof its AI works would look like, who has shown any of it, and what to ask before you sell.