<p>Or the next article will be about how right the great Peter Drucker was when predicting that the excessive focus on knowledge-based workers would cause the death of the “Blue Collar” worker. It seems obvious that the next wave of knowledge-workers will focus on creating products we never thought we would use, let alone need.</p>
<p>Not really sure how happy a world it will be when 1 lbs of meat will cost just as much as the iPhone16 or the iPadXII. We might also have an app that will tell you where there is actually meat to buy in a supermarket. Visions or early communism start to appear …</p>
<p>“How many students are there who would gladly forego the chance to rub elbows with the Wall Street gurus or other financial outfits … if it were available”?</p>
<p>Probably more than you think. It should not surprise that Bloomberg did not tell the whole story, though intimated: </p>
<p>Wall street is being avoided by current top grads due to an abhorrence of the greed, manipulation and harm caused by Wall Street as referenced in other news stories. It seems being rich at any “cost” is losing its luster.</p>
<p>Perhaps, perhaps … but then you might be surprised by the reactions of the citizens of the Classes of 2017, 2018, etc, and their parents. I doubt that the attraction of becoming an IB who makes tons of money has subsided much in the upcoming generations. And if it is it will mostly be by replacing Goldman with Google, Pacific with Facebook, and the smaller PE outfits with your next venture-backed startup. </p>
<p>The players change, but the idea remains the same. Greed and easy money are still very much ingrained in our culture, especially among the recent and not-so recent immigrants. </p>
<p>Fwiw, making the “right” choices upong graduation might be easier in the elite academic world that is a blue-blood realm. When earning a paycheck is not a great necessity, it might be valuable to DELAY entering the world of high finance and pay the dues via a stint among the do-gooders. Actually, one might start to think that it becomes the nec plus ultra in an application package to great MBA schools in the country. </p>
<p>The road to cornucopia might have gotten a bit more twisted and perilous, but I seriously doubt that the desire to “make mucho dinero” has changed one iota from the Ivy League to the academic factories that crank as many business majors as in the 20th century. </p>
<p>I simply do not buy that “we” have discovered a conscience because of the Wall Street reputation.</p>
<p>Did you really mean this? Sorry, but the upper echelons of business (and the ranks of the most egregious violators of ethical practices) are not dominated by immigrants, however recent.</p>
<p>Did I really mean what I wrote? Or implied? Fwiw, I did not say that immigrants controlled the greed and easy money pipelines in America. I wrote about the DESIRE to join the “group” and jump on the gravy train. If the decision-makers are still bastions of white power, can we say the same about the lower levels? Who are the quant jocks who invent and analyze to death all those devices to fleece widows and orphans? </p>
<p>That we associate Wall Street with greed and easy money? Or that we associated WS with cheating and deceit? You betcha that I meant it!</p>
<p>That the drive and desire to “make it” is still associated to getting in a top school and grab one of those lucrative degrees in medicine, law, business, and perhaps engineering? You betcha!</p>
<p>That this drive is exceptionally present among first and second generations of immigrants? You betcha. And that the cost ($ or moral) of getting “in” is justifiable. You betcha!</p>
<p>And lastly, that the ultimate prize is worth bending rules --read cheating-- is more prevalent among certain sub-groups? Let the reported news of cheating scandals direct you to the truth! Or spend enough time here reading posts on this subject, or … answering to queries about getting an advantage on standardized testing.</p>
<p>“I doubt that the attraction of becoming an IB who makes tons of money has subsided much in the upcoming generations. And if it is it will mostly be by replacing Goldman with Google, Pacific with Facebook, and the smaller PE outfits with your next venture-backed startup”. </p>
<p>That has already happened and that is my point. You are correct that green at any cost will still drive some, but at the extremes will deter many as GS and JPM, among many others, have done to the best and brightest who are presently shunning Wall Street. </p>
<p>But how different is SV than Wall Street now. Apple has record sales, but threw up a sham 5 person office in Reno NV to evade paying ANY CA state corporate income taxes while UCLA, Berkeley, Caltech and every other state university, college, junior college, HS and elementary school suffers from funding shortfalls. Google stole personal data from homes and businesses while driving around for Google maps. The best and the brightest may no longer see this as the end zone they are driving for.</p>
<p>As far as tech products, unless Siri can talk distressed people out of killing others, promote improved relationships between couples and world peace, the incremental value of iphonex vs iphone(x+1) becomes negligible to the average user, if it hasn’t already.</p>
<p>Western culture and consumer preferences are dynamic to be sure. Here is my shameless plug for a broad college education, rather than educate to chase the current bubble, be it finance or tech–they always pop…</p>
<p>Yeah and these companies more often than not will pick Harvard for example over a random school because H has the reputation, the alumni, and the clout that gets companies to recruit there.</p>
<p>I have nothing to contribute to the ongoing scrap over the validity of USNWR rankings, but I agree with this statement 100%.</p>
<p>I might replace the word “broad” with “balanced.” In-depth study of a field is one way that college is distinguished from general high school education.</p>
<p>While they have cycles there have been pretty good jobs in finance for as long as I have been around and aware of such things–about 50 years. Same for nursing, doctors, accountants and a few others.</p>