Barbarians at the Gate: The Fall of RJR Nabisco
“The book is excellent.”
“The book is next level.”
Why it is worth your time
Barbarians at the Gate is the 1990 account by Bryan Burrough and John Helyar, then reporters at the Wall Street Journal, of the 1988 fight for RJR Nabisco. Chief executive Ross Johnson tried to take the company private, which set off a bidding war won by Kohlberg Kravis Roberts at about $25 billion, the largest leveraged buyout of its time. The book covers the bankers, lawyers and egos involved. Chamath called it excellent and Jason called it next level on the April 2022 episode that covered Elon Musk's bid for Twitter. It fits Chamath's interest in how capital, incentives and boards behave under pressure, and Jason's liking for the executives of the 80s and the era before the internet. It suits readers who want the mechanics of a buyout told as narrative. The caveat is length. The Harper Business paperback runs 592 pages with dozens of named players.
