A friend of mine from a humble background in Michigan decided he wanted to go to NYC and make it in finance. He eventually did.
After paying his dues in lower-ranked jobs in finance, some of his professional acquaintances were starting a hedge fund, and a key part of their strategy had to do with parts suppliers to Detroit car manufacturers.
They immediately realized that they needed a “local” to be their boots on the ground there. Northeast corridor (NEC) elites may have high social standing in the NEC, but they come across as pompous city slickers outside of the NEC. People were reluctant to share information with them due to lack of trust. My friend was able to develop that trust, so he was basically a go between for the Michigan parts suppliers and the NYC financiers.
That symbiotic/parasitic relationship netted him an 8-figure exit and an early retirement in his 40s, with a comparable bump for his NEC-born partners.
Here is a good example:
A friend of mine from a humble background in Michigan decided he wanted to go to NYC and make it in finance. He eventually did.
After paying his dues in lower-ranked jobs in finance, some of his professional acquaintances were starting a hedge fund, and a key part of their strategy had to do with parts suppliers to Detroit car manufacturers.
They immediately realized that they needed a “local” to be their boots on the ground there. Northeast corridor (NEC) elites may have high social standing in the NEC, but they come across as pompous city slickers outside of the NEC. People were reluctant to share information with them due to lack of trust. My friend was able to develop that trust, so he was basically a go between for the Michigan parts suppliers and the NYC financiers.
That symbiotic/parasitic relationship netted him an 8-figure exit and an early retirement in his 40s, with a comparable bump for his NEC-born partners.