A considerable amount has been written about the financialization of the American economy. Less understood is the financialization of America’s business talent.

A considerable amount has been written about the financialization of the American economy. Less understood is the financialization of America’s business talent. Klarman, his alma mater, and its peer institutions are all part of this story. What we confront today—a business elite dominated by financiers and their squires, presiding over a disordered economy gutted of both its productive energy and the ability to generate mass prosperity—is a direct result of this economic and cultural evolution. To some degree I think we see this in the startup world where a lot of the aspiration seems to be: Operator -> Angel Investor (on the side) -> VC.