Letters of Intent

"Price is what you pay. Value is what you get." But how do you determine that value? In this masterclass episode of Letters of Intent, Pankaj and Sahil are joined by Stephen Bethel, a veteran business appraiser and broker with decades of experience.

They dive deep into the art and science of valuation, exposing the biggest mistakes founders make (like treating their business as a "personal ATM"), why "unsexy" industries lik...

Jorge Rabaso arrived in the United States with $300 in his pocket, limited English, and a suitcase full of fear. Today, he is a pillar of the Los Angeles business community, founder of the Hispanic Business Network, and a Fernando Award nominee.

In this inspiring episode of Letters of Intent, Pankaj and Sahil sit down with Jorge to discuss his incredible journey of resilience. They explore his "Win-Win" philosophy for busin...

"Tariff" might be the President's favorite word, but for businesses, it's becoming a nightmare. In this episode of Letters of Intent, Pankaj Raval and Sahil Chaudry break down the new "Trump 2.0" trade regime.

They explain why tariffs are no longer just a trade tool but a "core policy weapon," how "tariff stacking" can quietly triple your landed costs (up to 67% on some goods), and why courts are rejecting "Force Majeure" a...

Welcome to the Weekly Roundup, a new series on Letters of Intent where Pankaj and Sahil break down the three biggest deals of the week—and what they mean for your business.

This week, we cover a bizarre merger between Trump Media and a nuclear fusion startup (a "Trojan Horse" for going public), IBM's acquisition of Confluent to own the "plumbing" of AI, and the massive Medline IPO that proves "boring" businesses with cl...

Did you know your US trademark stops at the border? In this episode, Pankaj Raval and Sahil Chaudry dive into the complex world of international intellectual property. They explain why the "First to File" system in other countries creates a massive risk for US brands, how Apple got held hostage for $60 million over the "iPad" name in China, and why influencers need to trademark their TikTok handles to fight copycats.

Takeaw...

It’s the biggest media M&A story in a generation, and it feels ripped straight from a script of Succession. In this episode, Pankaj and Sahil unpack the ruthless bidding war for Warner Brothers Discovery, pitting a strategic $82.7 billion offer from Netflix against a hostile, all-cash $108.4 billion takeover attempt from Paramount Skydance. They break down the aggressive "silver or lead" tactics being used, the hidden ...

Costco—the giant of $1.50 hot dogs—is suing the White House over tariffs, claiming executive overreach. In this urgent episode, Pankaj Raval and Sahil Chaudry break down what this lawsuit means for small businesses and why you can't afford to ignore it. They explain the dangerous "liquidation" clock that could wipe out your right to a refund, why uncertainty is a "margin killer" for importers, and provide a practical 5-ste...

"Am I secure?" is the wrong question. In this episode, Pankaj and Sahil sit down with Rudy Ordaz, CEO of DataWise Networks, to demystify cybersecurity for business owners. Rudy shares his journey from a mainframe technician to selling his own IT firm, breaking down the M&A strategies that helped him grow. They discuss the "Shadow AI" threat, why security is a continuous practice rather than a one-time project, and the ...

AI has transformed innovation, but 2025 brought a hard legal truth: courts and patent offices globally have doubled down, ruling that only humans can be listed as inventors. In this episode, Pankaj Raval and Sahil Chaudry explore what this "human-only" patent rule means for businesses and R&D companies. They break down the "fast fashion for SaaS" concept, explain why AI compliance is now a critical part of due diligenc...

Your product just went viral, and then... you get a cease and desist. In the new "IP Wild West," e-commerce businesses and AI-powered companies are facing unprecedented legal risks. In this episode, Pankaj Raval and Sahil Chaudry dive into the biggest IP liabilities facing modern entrepreneurs. They cover the dangers of AI-generated content, the "Victim and Violator" landmine with overseas suppliers, the shocking $2 millio...

How does an immigrant's son, after watching his father's business get destroyed by a $200,000 inherited tax liability, become a top business litigator? In this powerful episode, Parag Amin shares his deeply personal origin story and how it fuels his mission to protect entrepreneurs. He also pulls back the curtain on building a law firm using social media (as an introvert), debunks the "post every day" myth, and reveals the...

Short Summary

Why do so many high-achieving professionals feel unfulfilled? In this profound conversation, Pankaj and Sahil talk with Judith Gordon, a lawyer-turned-UCLA professor and mindfulness expert, about the missing ingredient in demanding careers: emotional intelligence. Judith dismantles the myth of pure logic (we are "feeling machines that think"), provides a simple tool to manage frustration called "Name It, Tame ...

Signing a commercial lease is one of the biggest financial commitments an entrepreneur will ever make, and treating it like a simple apartment rental is a catastrophic mistake. In this episode, Pankaj and Sahil are joined by real estate law expert Robby Pinnamaneni (formerly of LinkedIn, Salesforce, and Facebook) to pull back the curtain on commercial leasing. They break down the most dangerous clauses, from the "non-bindi...

In this conversation, Pankaj Raval and Sahil Chaudhary discuss the evolving landscape of college sports, particularly focusing on the recent changes in regulations that allow athletes to be compensated for their name, image, and likeness (NIL). They explore the investment opportunities in college sports, the complexities of NIL agreements, and the importance of legal counsel for athletes navigating this new terrain. The di...

In this episode of Letters of Intent, hosts Pankaj Raval and Sahil Chaudry delve into the recent controversies surrounding freedom of speech in media, focusing on the case of Jimmy Kimmel and Disney. They discuss the implications of public airwaves versus private platforms, the future of broadcasting in a streaming-dominated world, and the impact of government intervention on media rights. The conversation also touches on ...

In this episode of Letters of Intent, hosts Pankaj Raval and Sahil Chaudry discuss the complexities of trademarks and branding, focusing on a recent trademark lawsuit involving Elon Musk's rebranding of Twitter to 'X'. They explore the legal implications of trademark infringement, the importance of having a strong trademark, and strategies for protecting one's brand. The conversation highlights the challenges smaller busin...

In this episode of Letters of Intent, Pankaj Raval and Sahil Chaudry discuss the critical importance of trademarks and brand protection for business owners. They delve into the necessity of monitoring trademarks to prevent loss of rights, the compliance requirements set by the USPTO, and the significant costs associated with enforcement if proactive measures are not taken. The conversation emphasizes that every business, r...

What does it take to raise capital and scale in today’s market?

In this episode of Letters of Intent, Pankaj Raval and Sahil Chaudry unpack key takeaways from a recent Andreessen Horowitz (A16Z) event in Los Angeles. They dive into the realities of today’s capital markets, why defensible revenue matters more than ever, and the common legal pitfalls that can derail fundraising. From customer retention strategies to the impo...

In this episode of Letters of Intent, Sahil Chaudry and Pankaj Raval discuss the intricacies of intellectual property, focusing on trademarks and copyrights. Pankaj shares his journey in founding Carbon Law Group and emphasizes the importance of protecting brand identity through trademarks. The conversation covers the differences between trademarks and copyrights, the significance of proactive brand protection, and common ...