flâneur

VC-Backed Startups are Low Status - by Michael Dempsey

mhdempsey.substack.com · 2,695 words · saved by 4 readers

Before Tech became the dominant industry, jobs like investment banking were generally viewed as the best expected-value career trade to make out of school in terms of money, training, and accrued social capital.

Before Tech became the dominant industry, jobs like investment banking were generally viewed as the best expected-value career trade to make out of school in terms of money, training, and accrued social capital. As tech began to rise in the 2000s-early 2010s, backed by cultural tenants of weirdness (what the smartest people do on weekends), meritocracy, and change for good, doing investment banking within many younger circles went from high status to a specific type of low status which is “this shows you’re smart but not that interesting.” It was clearly high EV but lacked a form of soul.…

saved by

related reading