Thought this was interestingPosted: December 22, 2017
Ever heard of Shijiazhuang? Well it has ten million people.
Here’s an essay by Puzhong Yao, who tells of his journey from there to Goldman Sachs, and his love for Costco:
It seemed like whatever I wished would simply come true. But inside, I feared that one day these glories would pass. After all, not long ago, I was at the bottom of my class in China. And if I could not even catch up with my classmates in a city few people have even heard of, how am I now qualified to go to Cambridge University or Goldman? Have I gotten smarter? Or is it just that British people are stupider than the Chinese?
With these mixed thoughts, I began working as a trader at Goldman in 2007.
(ht Tyler Cowen)
One class was about strategy. It focused on how corporate mottos and logos could inspire employees. Many of the students had worked for nonprofits or health care or tech companies, all of which had mottos about changing the world, saving lives, saving the planet, etc. The professor seemed to like these mottos. I told him that at Goldman our motto was “be long-term greedy.” The professor couldn’t understand this motto or why it was inspiring. I explained to him that everyone else in the market was short-term greedy and, as a result, we took all their money. Since traders like money, this was inspiring.