From: James Rogers (email@example.com)
Date: Mon Dec 09 2002 - 14:04:54 MST
On Mon, 2002-12-09 at 12:23, Ben Goertzel wrote:
> But some are more like Gary describes. Especially among investment bankers
> and finance-industry sales types I've known, it's not that common to find
> people driven by the desire to create value. There is a lot of pure and
> simple greed, and a lot of fraud and dishonesty and backstabbing too. Of
> course there are also some wonderful and honest people -- one can't
> generalize too strongly about any walk of life...
I wasn't actually talking about the Wall Street crowd. I meant people
who actually build and run businesses. The old finance community tends
to be populated with jackals -- that I can agree with -- but it also
seems that their influence and importance is actually waning, at least
in the circles that I frequent. More and more finance seems to be done
through organizations/companies/people who have a few war stories under
their own belts. There is relatively low capital viscosity these days,
or at least more channels, which is pricing the old Wall Street finance
community out of the market.
Very little wealth is actually inherited in the US. I consider this to
be a blessing.
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