it's for the good of the world that wall street is no longer the #1 desired employer. let's consider two types of innovation: (1) eliminate complexity, streaml

it's for the good of the world that wall street is no longer the #1 desired employer. let's consider two types of innovation: (1) eliminate complexity, streamline processes, lower expenses, and lower costs to consumers, and (2) increase complexity, obscure details, and raise prices to consumers. Both are considered optimizations; technology tends to affect #1 and MBAs like to increase #2. (this also helps explain why my toilet paper now costs $15 for a pack of 9, but you can get an old model iphone for free.) Truth is - 27% is still too high - finance should be just another sector, of say, 10 major categories. only 10% should be going into finance. and it really doesn't matter a hoot if the smartest people go there. ultimately finance is a relationship business - knowing the people who have the money and getting them to trust you. we should probably be more worried about the influx of MBAs into tech. there are definitely a lot of rockstars who get MBAs, start great companies, etc - and i don't want to take anything from that - but once the law of large numbers start to apply, you inevitably get departments full of folks cranking about powerpoints on strategic mumbo jumbo and that can be one of many elements turning innovative companies into bureaucratic messes.