Does GS do a better job than other firms at preparing analysts for entrepreneurial careers?
Do you think GS does a better job than other firms at helping aspiring entrepreneurs acquire relevant skills and/or generally launched? I noticed that there's some pretty successful entrepreneurs that have done analyst stints there. Curious if you think it's a skill set acquired over time at the firm, that brand name makes it easier to fundraise, that these people were rockstars. I'm sure there's more of them but below are just a few that I've come across. I do think there's a delta between GS and other firms in terms of minting startup founders.
- Jennifer Goldfarb, who co-founded IPSY (beauty startup with an $800MM+ valuation), was an analyst in GS IBD.
- Ryan Williams, who co-founded Cadre (real estate startup with an $800MM+ valuation), was an analyst in GS IBD.
- Misha Esipov, who founded Nova Credit (cross-border credit bureau that has raised over $19MM and counts Amex as a partner) was an IBD analyst.
- Robert Reffkin, who founded Compass (real estate startup with an $6.4+BN valuation), worked in GS's Principal Investing Area.
- Nick Sedlet, who founded HireArt (recruitment platform that has raised over $6MM), worked in quantitative strategy.
- Porter Braswell and Ryan Williams, who co-founded Jopwell (recruiting technology startup that's raised over $11MM), were both analysts in Securities.
- Courtney Reum, who founded VeeV (beverage company which sold for 7x revenue), was an investment banker at the firm.
Not necessarily better preparation, but provides an extremely powerful alumni network and a well recognized brand that makes it easier to fundraise. Intelligence is probably the same across all top BBs/EBs, some of us just got lucky (or were well connected.)
Now it depends what exactly you mean by entrepreneurship. If you leave the firm at the analyst/associate/vp level, you will have no issues fundraising your startup (provided you have a passable idea) given your GS stamp of approval. This is obviously pretty risky and not everyone is successful afterwards, but it does happen. The successful startups you mentioned are few of many that have been founded by GS alumni.
When it comes to starting an investment firm, this is much more challenging but obviously a safer path to the 9 figure mark. You would have to rise to partner/head of xyz group and then fundraise for your investment firm from there.
Many partners come from family money (2nd/3rd generation Goldman partners, powerful/influential father in laws, children of billionaires, etc.). It’s quite tough to make it to partner/group head without this background, but tons of doors for fundraising (raising a hedge fund for example) do open if you reach partner.
The money at Goldman these days is respectful, at best. The real money comes when you leverage the brand and your experience to hit the 9/10 figure mark.
/edited
You truly believe GS Compliance > Citi IBD? put the crack pipe down brother!
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Oh, interesting. Probably the brand makes it easier to raise capital and recruit employees.
No it’s plenty of people who’ve worked at Goldman over the years who haven’t done anything noteworthy besides be in the industry and or more into something else. It’s either in a person to do something outstanding and start a new startup or not.
It’s just signaling - just like a top undergrad, top graduate school would or another top firm in another industry (Mck/Bain/BCG, FAANG, Big law).
Correctomundo.
I’m guessing those people were already exceptionally talented and/or connected
Have you been to the GS NYC designated smoking area - I hear it's a good place for wanna be founders to clear their minds and come up with ideas. N End Way and Vesey St.
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