TGIF! It's Dan DeFrancesco in NYC. Cheers to the weekend and, hopefully, another New York Jets win on Sunday. 

Today's slate includes plenty more FTX drama (of course), a financial firm not named Blackstone getting into single-family rentals, and why watching the World Cup next week is actually good for your job. 

But first, they say it's lonely at the top in whatever you do. 

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1. To the victor, go the spoils.

It's not for the faint of heart, the weak, or the easily discouraged. But if you make it, you will be rewarded.

That, in a nutshell, is life at Apollo Global Management.

The private-equity firm, which manages more than half a trillion dollars in assets, is known for being an intense workplace that's not for everyone. But for those who survive and advance, there is the potential for compensation in the tens of millions of dollars.

Insider's Casey Sullivan and Hayley Cuccinello did a deep dive on what it takes to rise the ranks within Apollo's private-equity unit. 

Their story includes details on three executives — Robert Kalsow-Ramos, Reed Rayman, and Aaron Sobel — who all started as Apollo associates and reached the level of partner before turning 40. 

And while it's true life on Wall Street is never a walk in the park, Apollo is known for being particularly grueling.

In March of last year, Casey and Daniel Geiger wrote about how private-equity associates at the firm were burning out at a rapid rate, with nearly a quarter of the group leaving in a three-month span. A few weeks after Insider's report, Casey and Daniel broke the news that Apollo was offering six-figure "retention" bonuses to some associates in an effort to stop the talent exodus.

The catch? Recipients of the bonus needed to stay at Apollo until at least September 2022. 

That delayed gratification approach to comp is somewhat core to Apollo's strategy.

The firm works on a points system that could most easily be described as a profit-share system, Casey told me. As one rises from associate to principal to partner they accrue more points. To cash in those points, you need to stay at the firm longer. Walk away and you're leaving money on the table. 

That being said, the points haven't stopped some of its young talent from deciding to join hedge funds instead.

But while Apollo might not be everyone's cup of tea, it's tough to argue with the results. In a difficult year for public companies, Apollo, whose stock price is down roughly 14% year-to-date, has outperformed Blackstone (-29%) and KKR (-29%) during the same period. 

Read more about what it takes to rise the ranks at Apollo.

In other news:

2. The FTX bankruptcy filing just dropped, and it's a doozy. FTX's new CEO John J. Ray, who knows a thing or two about bankruptcy having worked on the liquidation of Enron, didn't mince words in the filing, calling it "a complete failure of corporate controls." The filing also claims some FTX affiliates might have used corporate funds to buy homes. While I'm not one to suggest reading bankruptcy filings for fun, this one is worth your time.

3. The guy who got money from MF Global after its blowup isn't hopeful for FTX customers. James Koutoulas, who won more than $6 billion for people burned by MF Global, doesn't see FTX customers recouping much from the bankrupt exchange. Here's how he thinks it will play out.  

4. Sam Bankman-Fried won't stop talking. The FTX founder didn't hold back in a conversation with a Vox reporter, which he later said wasn't meant to be public. These are the highlights. 

5. Enough about crypto. Let's just bet on the robots. Top VCs helped us identify the most promising early-stage artificial intelligence startups. Here's the 13 that stood out. 

6. A top executive in Pimco's special situations unit has taken a personal leave of absence. Harin de Silva took leave beginning in October "for personal reasons" and will be on leave "at least through the end of the year," a spokesperson said. Here's what we know.

7. JPMorgan could be your new landlord. JPM's asset management arm is teaming up with Haven Realty Capital to invest $1 billion to develop build-to-rent single-family homes. These are all the details on the new partnership. 

8. Here's a story about the ultrarich having lots of kids so their offspring will "become the new dominant leading classes in the world." This is not a sci-fi story. Read it to believe it. 

9. Take the equity, they said. It'll be great, they said. Working at a startup can come with a big payday following an exit event. But it doesn't always work that way. Here's how most employees at Imperfect Foods ended up losing money on their stock options. 

10. You're not just watching the World Cup. You're looking for alpha! Turns out there are some sound trading strategies tied to the beautiful game's big tournament, according to Bloomberg. Tell the boss you're not hitting the pub for some pints; you're doing market research. 

Keep updated with the latest business news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief. Listen here.

Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London.