The opposite of Goldman Sachs is … Silicon Valley? | VentureBeatPosted: March 22, 2012
With Greg Smith’s scathing goodbye to Goldman Sachs at the top of world headlines, the world’s trust in Wall Street continues to crumble. But if there is something very amiss in the culture of the world’s most powerful financial institutions, what can leaders rely on to build a brighter future for the world economy?
Victor’s recent op-ed in VentureBeat explores many of these questions…and poses a few answers.
In the wake of Greg Smith’s now-legendary resignation in The New York Times, worldwide scrutiny has naturally focused on Goldman Sachs. How will his assault on the bank’s culture impact its clients and its leadership? Is his description of the firm fair? However, these are merely superficial questions. The true implications are far broader and affect the prospects for economic growth across America and the world.
Smith’s accusation — that “the interests of the client continue to be sidelined in the way the firm operates and thinks about making money” — is not novel to Wall Street. It has already been 25 years since Gordon Gekko uttered the iconic phrase “greed … is good.”