Younger generations want to be able to make an impact by being "innovative" and thinking outside the box. Wall Street has experienced talent lost to Silicon Valley because talented grads today believe that tech offers them the chance to "think outside the box" and to "build things" of tangible values. Sure, finance plays an extremely important role in society/economy but do you really need a genius to plug in numbers into an excel spreadsheet? A lot of grads think that working in finance is like being part of an "assembly line", following orders and doing essentially same tasks over and over again. Is there opportunity for monkeys to be innovative in this sector? Is talent being thus wasted if someone who is smart and creative takes Wall Street over Silicon Valley? The nature of the industry now seems that it doesn't value individuals who "think outside the box" and provide creative advice. Is this going to change in the future?
Trending Content - Off Topic Forum
| +73 | Uchicago is paradise | 14 | 3d |
| +61 | BofA VP killed in random NYC stabbing | 36 | 1d |
| +46 | What Bank Will Make Women Instantly Fall In Love With Me? | 14 | 1d |
| +12 | At what salary can you start calling it “fi-NANCE” | 3 | 1d |
| +11 | Lindsay Clansey | 6 | 3h |
| +9 | Wrote a rap song on finance | 1 | 6h |
| +7 | Who is making these posts on WSO Linkedin ? | 5 | 3d |
| +1 | Someone just coined "the view" | 3 | 4d |
| 0 | What Are the Best Ways to Keep Office Carpets Clean? | 1 | 1d |
| 0 | Abstention | 1 | 1h |
Career Resources
Not really
Is innovation inextricably tied to finance? (Originally Posted: 03/05/2012)
from ted conversations, thought this was an interesting question worth discussing more:
one response:
Thoughts monkeys? True/false that true innovators do not participate more than superficially in the money game?
http://www.ted.com/conversations/334/is_innovation_inextricably_tie.html
Andy I think mfriedman should do a biographical interview for you :) or you should post your story!
financial return has to come from productivity gain ultimately. historically we have borrowed 1.5 dollars for each dollar of GDP growth. we're now up to 6 and most of that is consumption, no longer capital investment.
so all you young guys looking into finance are driving with your rear view window.
Is everyone forgetting DARPA? Dollar-for-dollar, these guys are the most efficient things we spend money on in our government. They're the only agency that thinks consistently about stuff on a 50-100 year time horizon, and the dollar impact is 2-for-1 in serving as our near-term military tech and our future civilian tech.
Does financial innovation help economic growth? (Originally Posted: 02/23/2010)
The Economist debate series is taking on financial innovation and economic growth. (http://www.economist.com/debate/overview/166&sa_campaign=debateseries/d…)
They are asking if financial innovation helps economic growth, or if the kind of innovation we've seen is really just greed and irresponsibility (the public certainly seems to think so). I think that's a pretty interesting question to ask, since the level of innovation (and complication) our financial system has seen has gotten to be pretty absurd sometimes. There is definitely the good type of innovation (the one that increases efficiency in getting capital from savers to entrepreneurs) and the bad type (the kind of "innovation" designed so that investors don't know what the hell they're investing in, for example).
So to what extent are we, the professionals of the finance industry, responsible for economic growth in this country? And to what extent are we responsible for the mess of the last couple of years?
Interesting. I haven't read it yet, but I'd readily side with those who believe "innovation" is much too generous of a word. Financial Innovation has been formed only to circumvent regulation and aid in the creation of opportunities for speculation. Sure- there are secondary channels where wealth from financial innovation has trickeled down to other industries that fostered economic growth- but I don't think that counts.
Tempore et minus necessitatibus rem est sed. Iusto molestias eligendi eos id voluptas voluptas eum maiores. Totam et velit deleniti non velit numquam. Nihil voluptatum ducimus nostrum repudiandae consequatur dolorem non. Enim excepturi ad veritatis molestiae aut cumque.
Sint totam rerum id omnis ratione dignissimos voluptatum. Nemo aut aliquam sit saepe. Est iusto officiis quibusdam voluptatum voluptatem magni praesentium. Est voluptatem voluptate sunt. Occaecati minus autem est debitis veritatis.
Dolore velit enim dolor. Molestiae totam et atque rem velit molestiae odit voluptatem.
Sit officia maiores et quos qui rem. Ut non laudantium unde voluptas nobis explicabo quidem. Et delectus voluptatibus quidem enim. Facere autem aut sunt atque voluptatum. Perspiciatis aspernatur delectus quis molestias.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...