More leaving Wall Street for tech
There’s a growing support system in New York for people who want to flee Wall Street for the tech world.
This month, a few dozen bankers and aspiring entrepreneurs gathered for drinks in the city’s Flatiron district to listen to a panel of ex-finance workers who made the switch. The event, the third such panel held over the past year, targets Wall Street bankers itching to take their talents slightly uptown to Silicon Alley, the city’s startup hotbed.
Wall Streeters find life really is greener on the other side
“One last question,” the moderator asked the panel of former Wall Streeters now working for fast-growing tech startups. “Would any of you go back to banking?”
One by one the five panelists, some of whom work for hot shops like FourSquare and Spotify, each shook their heads: “No…no…no.”
The responses from the former traders and investment bankers was a comforting message the three dozen or so people who still work on Wall Street and had gathered Tuesday at General Assembly — a tech hub of sorts in New York City’s Flatiron neighborhood — to learn about life beyond stocks, bonds, commodities and derivatives.
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“I felt like in finance, the playbook was already written, and it was my job to execute,” said Vinicius Vacanti, co-founder and chief executive officer of Yipit, a startup that delivers personalized daily deals aggregated from other services. “Someone had done it before I did, and someone was going to do it after. In a startup, there’s no playbook. You’re making it up as you go along.”
It was Wednesday night at General Assembly, and 30 bankers, mostly young, mostly male, mostly dressed in shirts and slacks and keeping one eye trained on their mobile devices, had turned out to listen to founders from New York’s startup scene talk about their transitions from Wall Street to Silicon Alley. It was a hot ticket.