So Mike and Ace were buds, back in the day, business partners of some stripe, and as far as how well they were doing, they had a co-op building and an airplane, for just two examples. When they split up, Mike took the plane and gave Ace the co-op, so his grandson went to live there while going to NYU. But what was also living there was Mike's drugs, so then the cops came and found six kilos of cocaine! (Also, I think Mike is Albus Dumbledore, which makes this story even more riveting.)

Ace: "They want me to roll over on Mike and his offshore bullshit. I roll over on Mike or the kid takes the fall."
Gus: "I'm going to ask more leading questions that a real person would never say, ever, in life."
Ace: "Whatever makes us never have to have this conversation again."
Gus: "Sometimes on shows, they do it while this boring stuff happens, so you at least get to look at boobs or a guy's butt."
Ace: "Is that really something you want to happen here?"
Gus: "...Point taken. Do continue."

Ace: "The point you were about to awkwardly bring me to is, I would never rat on anybody and Mike would rat on anybody, and we are different in that way. So instead of turning on either of those people, I took the rap myself and did a felony drug rap in jail, because I have a kind of honor."
Gus: "Apropos of nothing, I would love to murder Dumbledore. I may have mentioned that before."
Ace: "Don't talk about murdering him! It's complicated!"
Gus: "Yeah, the last thing I would want is you to get overemotional about absolutely fucking nothing, like you do in every single scene."

RACETRACK

Irish Lass: "Did you see how good I rode your horse?"
Old Man: "Yeah, I was watching that horse. It ran really fast. With you on it."
Irish Lass: "Yeah, but like I was really good. Don't you think I was so good?"
Old Man: "How about you just take the horse back to the barn and get off my crazy old jock?"

Escalante has a conversation with some other old man about the Old Man's horse and who his father was and How They Killed Him.

Old Man: "Drunk Hot Jockey, let's be best friends."
Porky Pig: "This is a good sign!"
Irish Lass: "This is a bad sign."