Software industry is just so weird. iirc, graduates at Goldman and similar traditionally do/did a 20 page investment banking proposal every 2 days. They're fi

Software industry is just so weird. iirc, graduates at Goldman and similar traditionally do/did a 20 page investment banking proposal every 2 days. They're filtering, so whenever they don't have enough real work, research and write a business proposal for some IB deal or whatever line of work. Essentially, they just research, write, then supervisor reviews, director reviews, nonstop. That's investment banking. Write dozens of proposals, pitch a couple to actual companies the partner thinks are good ideas. https://mergersandinquisitions.com/investment-banking-pitch-books/ https://mergersandinquisitions.com/investment-banking-pitch-... https://www.10xebitda.com/investment-banking-presentations/ https://www.10xebitda.com/investment-banking-presentations/ And it works. They're usually quite good ideas (after all those drafts). Meanwhile, Silicon Valley funds ridiculous stupidity, because somehow technology startups just make that much money. I have no idea how Silicon Valley VC firms make any sort of return on capital.