The Sidney Weinberg success story Jan 10
11 comments Latest by Theodore
Investor’s Business Daily has always been one of my favorite business papers, but I stopped getting it years ago. I just didn’t want to deal with the leftovers—the stacks of paper full of yesterday’s news.
However, when I got the Kindle I was excited to see that Investor’s Business Daily was one of the available newspaper subscriptions. $5.99 a month for the electronic version was a done deal.
This morning I read an article that made me smile. I love stories about people who’ve achieved huge things against all odds. I’m a sucker for that sort of thing.
The piece was on Sidney Weinberg, the former Chairman of Goldman Sachs. He was Chairman for four decades in the early to mid 1900s.
Sidney wasn’t formally educated. He didn’t have an MBA. He didn’t go to college. He didn’t even graduate from high school. He was just a determined, ambitious mail room clerk who wanted to do big things.
Read the rest of his story — it’s pretty incredible.
Over 1 million people use 37signals' simple web-based software to collaborate on projects, track contacts, and organize their business with an intranet.
11 comments so far
Steven 10 Jan 08
Sadly, we are so obsessed with credentials these days, I don’t think Mr. Weinberg story could be replicated.
I see want ads for call centers that require a bachelor’s degree.
Ryan Williams 10 Jan 08
James Cayne the outgoing Chief Executive of Goldman rival Bear Stearns doesn’t have a degree either. In fact, when he was hired at Bear, he was playing Bridge full time.
hmmm 11 Jan 08
He sounds nice and brilliant and all, but launching a subsidiary so that you can make them buy your shares if things go sour in the marketplace—doesn’t that seem a little… underhanded? In a conflict-of-interest kind of way?
steve 11 Jan 08
Speaking of the Kindle, when are you guys going to post your review?
Jeff 11 Jan 08
Great article. Thanks for posting that Jason, and yeah, let’s see a review!
John 11 Jan 08
While this is a great story, I can’t help but notice the shameless plug for the Kindle. I know Jeff Bezos is one of your investors, but come on. The Kindle portion of this post seems a bit forced.
Jeezus H. 11 Jan 08
Man, people are so fucking cynical around here. “Nice story, but you’re obviously shilling something…”
UH, no he’s not. Any 4th grader can tell you that when you write an essay you develop the story. He liked the paper but hadn’t read it in a while, now he does because it’s easier to, and here’s the result of what he’s reading.
Give it a rest, people, and read the article again without your blackened spectacles on this time.
carla 11 Jan 08
I liked the story but what I really want to know is, how is kindle working for you
ML 11 Jan 08
FYI , a Kindle review is coming shortly. Stay tuned.
DHH 11 Jan 08
John, dammit. You just revealed our secret scheme to raise profits. All our work to build up SvN just so it can be a shill front for the Kindle is now exposed. Dammit, I say.
Theodore 12 Jan 08
The story neglects the fact that the Goldman Sachs Trading Corporation (not GTSC ) declined in value by over 95%, and that GS used the funds to purchase the bank’s own positions at inflated prices – ultimately leaving the original investors with near complete losses.
I would not call this a success by any means.
And the article was poorly written and inaccurate.
Comments are closed