“The number of MBA-dedicated yachts expanded from 12 in 2019 to 95 in 2021, according to Day 8. These year there were 42 M.B.A. boats carrying roughly 500 people, according to the company. HBS students alone booked 28 yachts that took part in the festivities, up from 20 in 2021. Photos posted on Instagram last month showed some Yacht Week attendees in matching white hats with the HBS crest and a sailboat. Students from Stanford’s Graduate School of Business and Tuck came aboard, too, according to Day 8.”

WSJ

I won’t bother you with more details of these libations since most of us are more concerned with the price of meat going up by 9% this year but remember: these are your future leaders.

They ask that you don’t call them “fats cats”. “Slurpy cats” ?

To the futures Chairmen and Chairwomen of Goldman Sachs, I will tip my hat ! And get that venture capital money for your app-for-hangovers ready, people !

Until next time,

Your Man,

Max Cantor

“Most charge $5,000 or less in annual dues, plus a smaller sign-up fee though those at the top end can charge considerably more..

WSJ

Becoming a member at these clubs might take some time. Zero Bond [a 22,000 square foot private membership club in the heart of Noho] relies heavily on recommendations from current members in adding to its membership roll. Mr. Sartiano declined to say how many members he has but said Zero Bond has about 8,000 members on its waiting list.

NeueHouse earns about 35% of its revenue from membership fees, with the rest coming from brand partnerships, private events and its restaurants and bars, according to Chief Executive Josh Wyatt.

Kate King, WSJ

Zoom fatigue ? Do you really need a private club to go out for drinks and dinner ?

On the wheel of full-throttle snobism, here at Wall Street Financier: Notes from High Altitude, I am the only one seeking refuge from the vagaries of this vane and empty world. I stand alone, as I always stood, firm in my ancestor’s- Spartacus place.

And now a word from Sadhguru, the Indian mystic

“When [singer] Jewel and her employees walked into [Hsieh’s Park City] mansion, the house was dirty, with hundreds of candles dripping wax onto furniture, carpet and countertops. His dog left droppings on the floor.

Signs instructed visitors not to clean up the trash, particularly outside of Mr. Hsieh’s bedroom. At one point, Mr. Hsieh had told a visitor to teach the world not to produce so much trash, it was better not to trow trash away at all. Showers and sinks ran constantly, unattended; Mr. Hsieh and his entourage were trying to mimic the sounds of waterfalls.

The house couldn’t be cleaned because it was “nature”.

WSJ

I’ll leave you to read the rest. While Hsieh’s passing is regrettable, it is a stark warning of the world of disjointed, dysfunctional people at the top of economic elites.

Happiness…from George Carlin

 “Set at 1.1%-1.5% in 2018, that figure was bumped to about 1.8% after Levin was promoted to CEO in April 2021. 

Eight months after he took over, Sculptor announced another new pay package. This one increased the range to 2.8%-5.2% of gross profit and loss — at the upper end, about one-fourth of the 20% Sculptor charges in performance fees. Levin could also be given carried interest distributions from funds that were excluded from the profit-sharing agreement. “

Bloomberg Wealth

Sculptor is a publicly traded investment vehicle.

Men At Work

Shoulder Mobility Routine (60 Min.)

In remembrance of our roots, I’ve enclosed a link to Corporate Investor’s Official Guide to Aircraft Registration 2022. But our business now is far removed from business jets and aircraft.

We tackle a world upside down where everything is stacked up against the honest and hard-working man. When I talked about the fraudster Elizabeth Holmes four or five years ago, there were only unicorns in the tech jungle of Silicon Valley. Now there’re talking about “dragons”, private companies valued at $12 billion or more, net of capital raised. Axios The current U.S. dragons are: Stripe, SpaceX, Instacart, Epic Games, Databricks, Chime, Fanatics, Plaid, OpenSea, Miro and Grammarly. China has six, led by ByteDance. Dragons also are based in Australia, the Bahamas, India, Indonesia, The Bahamas and the U.K. [Axios]

I truly believe those fleeced nvestors who put money into Theranos did so to the extent they did because the Founder was female. The company lost most of the $945 MM it raised from investors when it dissolved amid regulatory probes and civil sanctions in 2018.

It’s all water under the water at this point. Look forward to more and egregious frauds coming out of Silicon Valley.

When you have some spare time, I invite you to listen to this talk

“If you are going to be an expert archer,

You must shoot before you think.

Otherwise I’ll be too late.”

Alan Watts

Meanwhile, in investment banking… Steve McLaughlin of Financial Technology Partners LP is “comfortably the highest paid investment banker in America [WSJ, Dec. 5th, 2021]

SPACS Lord Chamath is portrayed in the first June issue of The New Yorker.

Of hedge-fund managers: “Let them get wiped out. Who cares? They don’t get to summer in the Hamptons? Who cares?” (He made both proclamations after he had become a venture capitalist and started a hedge fund; he has yachted off the Italian coast.)

"In 2019, when he was trying to persuade investors to support his first spac—for the space-tourism company Virgin Galactic—he met in New York with a group of mutual-fund managers and gave a dazzling speech about helping mankind reach for the heavens. It went unmentioned that Virgin Galactic had burned through nearly a billion dollars, and that in its fifteen-year history it had missed every major deadline that it had set for itself. Instead, Palihapitiya proclaimed that the company would likely earn enormous profits—and change the world." -The New Yorker

What else is there to say ? That this Joker slides on slime ?

“Having a great story, and knowing how to tell it, can be a quick way to get rich. “

The New Yorker

And now a quote from me:

People are stupid. You can always bet on people’s stupidity.

Don’t blame Chamath that he possibly is worth more than Michael Milken (whose net worth is $3.7 Bn). Blame yourselves and your own stupidity. At least Michael Milken is a genius. Chamath is the Joker of Silicon Valley.

“Nietzsche is an incredibly important and deeply misunderstood philosopher. He’s the bridge between many things that came before him — beyond just philosophy — and many things that have come after him. Rather than state the answer, he provokes and encourages deep thought. In some ways, he’s the perfect philosophical mentor for an entrepreneur since you can apply his quotes in many different ways.”

Brad Felt in Techcrunch, May 25, 2021

We will be discussing this book as soon as we have a chance of reading it.

However, I suggest everyone to read Nietzsche first.

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I’ve picked up some good moves from the episodes and some non-sense you should stay away from…when dealing with women. Of course the producers and consultants of the show don’t have the life experience that I and many of my readers have.

St. Patrick’s asks his mistress, Angela: What’s wrong, baby ?

You never ask that question.

I guess naming the nightclub St. Patrick opened “Truth” is one thing, actually knowing you never covet to a woman is another. It is interesting Tasha, St. Patrick’s wife, knows all about his drug dealings, while his law-enforcement mistress sleeps with him to discover who he is…but he discovers who she is first.

“If that girl loved you like you love her that girl would be here in your time of trouble.” -Tommy’s mother to Tommy

In this case, mothers know best. If you have a girl who loves you, that’s the “love” of a woman.

“I love you, Jamie.

You do, don’t you ?”

At least that answer to women’s shit “I love you” is right.

St. Patrick, it seems, continues sleeping with Angela the government lawyer instead of cutting it off.

“It’s easy to love someone when you only see him an hour a day.” – Angela’s friend

That sounds like my advice, and of many others, of how to best be with a woman. I say see her once or twice, a week. (Friendly reminder, the best post of 2020 was Goldman’s Socks 69 Rules of Being a Man)

Who wants to fuck the good guy ? -Tommy Weaver to Angela, discussing the possibility of St Patrick being Ghost.

Holly Molly. Nobody does.

Let’s see how Kanan rolls, since he’s looking to take St. Patrick out. We’ll keep you updated as we dig more interesting facts from the show.

Until next time,

Your Man,

Max Cantor