The Yellow Brick Road, not taken
One of the best lessons of my life is:
The cost of the status quo is hidden
We never get to see what we miss by NOT changing.
In my early 30s, I made a decision to leave my life in finance and it turned out well. However, I will never see the life that I missed by leaving early.
Recently, I came across a glowing account of Blackstone's acquisition of Hilton Hotels. The story is written in the style of the hero's journey.
As I read the article, I realized that the hero was my best-case scenario from an old life in private equity. In the article there is a photo of the hero, sitting in a chair, he has set a personal best performance that's going to be tough to replicate. In business, and in sport, I've had a few of those moments.
Flying back from a Couples Retreat, I asked my wife to read the article. She found it to be an amazing story.
I said, "You just read my best-case scenario from the life I had before I met you. I'm so grateful I got out."
Similar to what I see when I watch elite sport, my view of elite finance is different than most.
I saw...
Buy at the top with other people's money
Pay off bank employees to pass my losses through to their shareholders/taxpayers
Provide massive financial incentives for management to work their tails off
Let time bail you out
Bask in the glow of my peers' envy
When you look at the life you're living, what do you see?