Now a journalist and author, MichaelLewis is no stranger to Wall Street’s draw on young minds.
He worked at Salomon Brothers before resigning to write Liar’s Poker in 1989, a tell-all book on mortgage-backed bonds and those who peddled them.
Lewis would go on to write The Big Short, one of the most seminal books on the financial crisis.
BusinessWeek: Has Silicon Valley replaced Wall Street as the place for bright young people to make their millions?
Lewis: My sense is that even though the financial crisis has lessened the appeal of the big Wall Street firm, it’s still appealing to kids in school, for the simple reason that unlike Silicon Valley, where you do have to know something to break in, the barriers to entry on Wall Street are quite low once you have the [Ivy League] credentials. If you’re a certain kind of kid who doesn’t actually know anything about anything, Wall Street is still a great place to go.
Just don’t do anything stupid or Michael Lewis will report about it.