Got 15 minutes to spare? Listen to this NPR ”Planet Money” clip in which New York magazine financial writer Kevin Roose gives us a hint as to why the insular world of big finance no longer appeals to Ivy League MBAs as much as it used to. In short, The Social Network is this generation’s Wall Street.
“The sex appeal is in Silicon Valley now. It has the…cultural cachet that Wall Street used to have…the tech industry is making things…”
That’s a key insight: tech makes things while Wall Street “re-bundles” things—at least according to popular opinion.
Younger bankers want to change all that. While all evidence indicates that the old generation is perfectly fine with being feared, the new generation “wants to be loved.”