Forbes 30 under 30 needs to just stop

https://www.forbes.com/30-under-30/2021/ 2021 is out and again I feel like throwing up..

There is frankly nothing impressive about roughly 90% of these people. There's no reason why someone should get an award for being a VP at JP Morgan's private bank or being one of hundreds of "Senior Associates" at Blackstone or KKR.

And some of the categories are even stupider. The "Social Media" category about 50% teenage TikTokers who for the love of god need no more congratulations.

Half of the "Founders" are the "CEOs" of made up non-profits, or startups and everyone else in industry is a mid-level manager despite whatever fancy sounding title they may have. 

Also, the marketing is cringy AF. The Energy category begins with a colorful portrait of a founder with the quote, "Climate change is real and ultimately we need to do something about it." Like... NO SHIT. My grandmother could have said something more thoughtful and with more foresight about energy. 

Forbes needs to just stop. It's an embarrassment for everyone involved. The only people who deserve awards are people who cure cancer or broker global climate accords or invent a commercial hydrogen fuel cell. Not TikTokers or Senior Associates. 

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Comments (94)

Dec 1, 2020 - 8:22pm

https://www.forbes.com/profile/alex-bouaziz/?list=30under30-finance&sh=…

As Covid spread over the summer, demand for remote workers soared. In September, Deel raised another $30 million, and its valuation ?more than tripled? in four months, says Bouaziz, surpassing $200 million. Today, Deel has 600 customers.

Found a weird formatting error on their website. Can an analyst have this fxed by 7am mrn tmr? No rsh. tx 

"Markets can stay irrational longer than you can stay solvent."

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Funniest
Dec 1, 2020 - 10:23pm

Yeah maybe you guys should rebrand to tech and see where that takes you, oh wait...

To live is to suffer, to survive is to find some meaning in the suffering.

  • 23
Dec 2, 2020 - 11:46am

Peg Leg

They don't even have a real estate category. 

A lot of trust fund kids have to wait until their 30th birthday ;) 

Commercial Real Estate Developer

  • 18
Dec 1, 2020 - 10:31pm

It's marketing for their conference and 'private' group that they charge for. I think it's pretty clever to be honest on their part! Brilliant marketing lol. 

Dec 3, 2020 - 12:40pm

I've never given a shit about this, but whenever it was mentioned I too assumed it was 30 of the biggest swinging dicks in their respective industries. Now I realize it's actually like 100 self nominated mediocre characters which Forbes is using as pawns to paint themselves as diverse and inclusive (I saw all of the humble brags plastered all over LinkedIn and reposts). I wonder if they would be "humbled to announce" the fact that they SELF NOMINATED themselves for this garbage.

Dec 2, 2020 - 12:23am

2 things.  

1. the Forbes 400 list is interesting to look at, but the history and background of the members is mediocre at best. 

2. Forbes has moved more towards an opinion column and away from business in the last decade.  

Dec 2, 2020 - 2:42pm

PeRmAnEnTiNtErN

2 things.  

1. the Forbes 400 list is interesting to look at, but the history and background of the members is mediocre at best. 

The list itself is mediocre at best.  It's the same thing as any other Forbes opinion piece - they're taking people at their word and are publishing the people who come to them, not doing actual investigative work.  With publicly traded companies its easy, but there are probably 4,000 people who would place highly on that list who don't make it because they don't want to spotlight.  I know several New Yorkers who own enough real estate to justify it, and there are probably dozens more in NYC alone, and forget about Russians or Chinese or anything like that.

Dec 2, 2020 - 11:23pm

Self Preservation. Corporate America is banking that if they follow the winds of progressivism, then people won't bash the 1%. Occupy Wall Street seems to have gone away ever since the push for more diversity. Also funny that income inequality played absolutely no role in the 2020 elections. Corporations don't actually care about the causes, many of them use virtue signalling as a shield against the left wing of the DNC.

Dec 3, 2020 - 11:51am

Forbes is garbage

List is garbage as well. I personally know 6 people on the 400 list and many more that could be featured but have private companies and real state and have no interest of being featured. Just an ego boost for those on the " lower" positions on the list

Dec 18, 2020 - 4:41pm

PeRmAnEnTiNtErN

2 things.  

1. the Forbes 400 list is interesting to look at, but the history and background of the members is mediocre at best. 

2. Forbes has moved more towards an opinion column and away from business in the last decade.  

The difference is that Forbes 400 is based on an objective metric: 400 Americans with the highest net worth. 

Dec 6, 2020 - 12:37am

I can see your argument about Tfue and xQc, Poki is on the same list as Toast, and Myth is not as relevant now because Fortnite is not what it used to be. Toast is currently the face of Facebook streaming (and making Facebook streaming somewhat relevant for now) by pulling big twitch numbers on a platform that only has 5% of the streaming market share.

  • Analyst 1 in S&T - Equities
Dec 1, 2020 - 11:20pm

Wow, it's even more pathetic than I would have thought. I think 3/4 of the people on the floor of my bldg qualify haha. 

  • VP in IB - Ind
Dec 2, 2020 - 12:09am

I think these people have to nominate themselves in case the fact that they are hardo losers makes you feel any better 

Dec 2, 2020 - 6:11pm

Not just self-nominated, the firms actually pay Forbes to include their nominees. Dirty little publishing industry secret.

“Doesn't really mean shit plebby boi. LMK when you're pulling thiccboi cheques.“ — @m_1
  • 1
Dec 2, 2020 - 12:21am

Used to criticize this list; ultimately helps you do a fundraise. 

Array

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  • Intern in IB-M&A
Dec 2, 2020 - 1:10am

Zach Perret from Plaid was on it in 2015, that gives it some clout

Dec 2, 2020 - 12:58pm

I like Coleman Hughes. I came across a few articles from him, he's smart and well-versed. Not really sure about the others, the whole thing seems to be highly inflated. 

Never discuss with idiots, first they drag you at their level, then they beat you with experience.

  • 3
Dec 2, 2020 - 1:22pm

Honestly when it starts to get annoying is when I see:

Creative Thinker |Forbes 30 under 30 scholar| Problem Solver ... etc

under a LinkedIn head title

Array

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Dec 5, 2020 - 1:57am

My favorite on that token is: "Stealth Entrepreneur | Retired Investment Banker"

In reality homeboy/girl was an analyst at CS TMT formatting big tech logos across several ppt slides.

Dec 2, 2020 - 2:40pm

banker832

https://www.forbes.com/30-under-30/2021/ 2021 is out and again I feel like throwing up..

There is frankly nothing impressive about roughly 90% of these people. There's no reason why someone should get an award for being a VP at JP Morgan's private bank or being one of hundreds of "Senior Associates" at Blackstone or KKR.

I mean... they got you to read it?

The 30 Under 30 has never been anything but a test of how good the PR department is at any given firm.  Most of the people doing interesting or valuable work are doing it on their own, and don't have those kinds of relationships with journalists or the clout of that kind of marketing department.  Or, frankly, the time.  For many years it's been more about stroking the ego of the parent company, rather than the individual named.

Plus, it's not like every 30 year old is going to cure cancer.  A person who starts a very successful tech company would "deserve" it, in my opinion, but again... most successful founders are out there busting their ass in order to grow and don't have time to curry support for this.

Dec 2, 2020 - 3:07pm

3 out of 4 of the judges are Black. Where's the diversity??? And really...Lilly Singh??? Has anyone on this board watched more than 30 seconds of her show? It literally just makes fun of white men and talks about how she's so cool as a woman of color

  • Intern in IB-M&A
Dec 2, 2020 - 5:32pm

Submit to Litquidity's 30 under 30!!! They will be releasing the list around Christmas time!

Dec 3, 2020 - 12:00pm

banker832

https://www.forbes.com/30-under-30/2021/ 2021 is out and again I feel like throwing up..

There is frankly nothing impressive about roughly 90% of these people. There's no reason why someone should get an award for being a VP at JP Morgan's private bank or being one of hundreds of "Senior Associates" at Blackstone or KKR.

And some of the categories are even stupider. The "Social Media" category about 50% teenage TikTokers who for the love of god need no more congratulations.

Half of the "Founders" are the "CEOs" of made up non-profits, or startups and everyone else in industry is a mid-level manager despite whatever fancy sounding title they may have. 

Also, the marketing is cringy AF. The Energy category begins with a colorful portrait of a founder with the quote, "Climate change is real and ultimately we need to do something about it." Like... NO SHIT. My grandmother could have said something more thoughtful and with more foresight about energy. 

Forbes needs to just stop. It's an embarrassment for everyone involved. The only people who deserve awards are people who cure cancer or broker global climate accords or invent a commercial hydrogen fuel cell. Not TikTokers or Senior Associates. 

Forbes should add data from each person for 2019 taxable income, net worth, and if their daddy works in PE (Yes/No).

  • Associate 2 in PE - LBOs
Dec 5, 2020 - 2:01am

Haha credit guy who is "relied on" by principals and partners. No shit. But it's nice getting props on screening / moving forward on deals which are par for the course for your role I guess? Such a joke. Also claiming that this dude "helped build" the credit platform is so overreaching I don't know where to start. I sound bitter but I mean the exaggerations are wild

  • Analyst 1 in IB - Gen
Dec 4, 2020 - 2:21pm

if you're a diverse female you're given a trophy upon entering the building. Go off Queens!

Dec 5, 2020 - 2:06am

I've noticed for the finance people there is a lot of mention of "transacted $s daily" or AUM mentions which is clearly intended to fluff up the bio. So in what you mentioned, this girl's key fluff piece is the "spans 80 countries and billions of dollars in transactions annually". In reality is a SWE at BAML, not a protege. I don't mean to sound bitter or anything but it's important for the yungins who see these profiles not to idealize these folk or think it's a sacred ground which they are not able to walk upon. So basically you're totally right

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Dec 5, 2020 - 12:15pm

TheBuellerBanker

I've noticed for the finance people there is a lot of mention of "transacted $s daily" or AUM mentions which is clearly intended to fluff up the bio. So in what you mentioned, this girl's key fluff piece is the "spans 80 countries and billions of dollars in transactions annually". In reality is a SWE at BAML, not a protege. I don't mean to sound bitter or anything but it's important for the yungins who see these profiles not to idealize these folk or think it's a sacred ground which they are not able to walk upon. So basically you're totally right

I don't mean to shit on this person's job or accomplishments but these write ups make it sounds like one person is solely responsible for this shit but that's not how it works at all. Even the first sentence: "An engineer building Bank of America's automated foreign exchange offering" is just dumb. I'm 100% certain as someone who works closely with product and technology at a similar bank that this person is not personally building anything on their own. They're likely one person interfacing with many different teams, managing and tracking different workstreams and aggregating information to pass upwards. Just like 1000s of VPs in product/project management. There is nothing special or unusual about this role other than the person is maybe a year or two ahead of the average progression. 

They also need to fix these embarrassing typos: "She spearheads a multiyear initiative to use machine learning intelligence to improve payments space, and is now oversees the firm's largest revenue generating data initiative." Come on people. Get your head in the game.

Dec 3, 2020 - 10:52pm

WSO 30 under 30 > Forbes 30 under 30

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

  • 1
Dec 6, 2020 - 12:44am

People Salty, but looking through these. Like damn, half of this forum could nominate themselves and have a chance. 90% of the accomplishments are pretty par for the course in a finance job. Plus half these jobs are middle office of PWM jobs that kind of get shit on in this forum.

I guess people are mad, because I personally know multiple people who could top these guys. Would they ever nominate themselves, no and it really gets me that the bar is just set so low.

Like this kid - https://www.forbes.com/30-under-30/2021/finance/?profile=jack-mallers The article literally talks about his dad who had more achievements than him...But I mean congrats to him a Seed round of 3.5MM is cool, but also where are the details in this?? His company isn't in the first page of a google search is it even real?

And you put him in the same catergory as this guy? https://www.forbes.com/30-under-30/2021/finance/?profile=bharath-alaman… Someone who involved in what was probably the most interesting transaction of the year.

Dec 6, 2020 - 11:38am

Sham Wow

People Salty, but looking through these. Like damn, half of this forum could nominate themselves and have a chance. 90% of the accomplishments are pretty par for the course in a finance job. Plus half these jobs are middle office of PWM jobs that kind of get shit on in this forum.

I guess people are mad, because I personally know multiple people who could top these guys. Would they ever nominate themselves, no and it really gets me that the bar is just set so low.

Like this kid - https://www.forbes.com/30-under-30/2021/finance/?profile=jack-mallers The article literally talks about his dad who had more achievements than him...But I mean congrats to him a Seed round of 3.5MM is cool, but also where are the details in this?? His company isn't in the first page of a google search is it even real?

And you put him in the same catergory as this guy? https://www.forbes.com/30-under-30/2021/finance/?profile=bharath-alaman… Someone who involved in what was probably the most interesting transaction of the year.

I agree with you, but it's not like Bharath Alamanda was doing anything crazy either.  I'm sure he's extremely smart, but his blurb basically reads "Bill Ackman put on a huge position and this guy helped execute the transaction."  Maybe he was more involved than that.  But how is that more impressive than "took daddy's money and started a Bitcoin company"?

As many others are saying, the people who should be on this list are the ones smart enough to know that this kind of publicity is rarely helpful and are too busy to deal with it anyway.  You see tons of people from institutions because those places have PR departments that love this shit; being on the Forbes 30 Under 30 may do nothing for half these people, but I'll bet you anything the Pershing Square folks love that one of their employees gets included.

Dec 6, 2020 - 9:37pm

Well. I am based in an emerging market where we have a "local" Forbes 30U30. Granted it is still Forbes, but the award itself pretty much runs by the local branch.

Needless to say, it is far worse than how things are run in the states. The committee solicits certain "fees" to enter the list in the amount of just under $100K. And we have already seen fintech entrepreneur who went to jail for madoffing 4 billion, lite version of Elizabeth Holmes and a founder who doctored resume and later was busted (I used to work with this particular person, and her company tanked after Series C). 

I am in my late 20s and will not envy anyone on the list. But, I do have friends on the list who totally deserve to be on it (making billions through successful exits). They do not feel anything for being with those figures, so why should I?

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