What It's Like to Work at a Hedge Fund -- a talk with Carrie Sun, author of the new memoir PRIVATE EQUITY
Feb 14, 2024
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Author Carrie Sun discusses her memoir PRIVATE EQUITY, revealing the allure and repulsion of working at a billionaire hedge fund. The podcast explores motivations in finance, workplace realities, political awakenings, and navigating wealth and influence in career choices. It also delves into personal growth through self-discovery and the intriguing dynamics of the hedge fund work environment.
Initial belief in finance's positive impact contrasts with eventual political awakening triggered by social injustices.
Struggles with ethical dilemmas of privilege and wealth underscore the moral conflicts of elite finance environments.
Insight into the hidden emotional toll and unhappiness of high achievers reveals the dark side of relentless pursuit of success.
Deep dives
Initial Impressions and Justifying the System
At the beginning of her tenure at the hedge fund, Kerry embraced the idea of good billionaires and believed in the work's potential beyond just monetary gains. She justified the system to herself, holding onto ideals and innocence, rather than challenging the status quo.
Political Awakening and Growing Consciousness
Over time, Kerry's experiences led to a flicker of political consciousness and a realization of broader social issues. Incidents like her boss getting away with a speeding ticket sparked her political growth. She became more aware of injustices and the disparities between wealth and privilege.
Navigating Elite Spaces and Internal Struggles
Navigating the elite environment of finance, Kerry confronted internal struggles about privilege and wealth. Despite opportunities for financial security and comfort, she grappled with the ethical implications of maintaining such a lifestyle. The allure of luxury is juxtaposed with the moral dilemmas of wealth accumulation.
Sympathy for High Achievers and Trauma of Capitalism
Through her observations, Kerry highlights the emotional toll even high achievers at the top of the financial ladder endure in the pursuit of wealth. She shows a surprising depth of sympathy for those entrenched in the system, recognizing the pervasive trauma and burnout that accompany the relentless pursuit of success.
Exploring the Inner Struggles of a Billionaire
The podcast delves into the life of a billionaire who, despite his financial success, experiences deep insecurities and struggles with his work-life balance. The individual's constant anxiety, lack of enjoyment, and inability to take time off even after major surgery highlight the hidden misery beneath his glamorous office facade. The episode vividly depicts a scene where the billionaire's need for external validation and inability to relax or surf casually due to excessive concerns showcase his profound unhappiness and disconnect from genuine experiences.
Unconventional Memoir Structure and Self-Discovery Journey
The podcast analyzes the memoir's unique structural approach, deviating from traditional narratives by delaying revelations about the author's background and traumas until later in the book. The intentional crafting of the memoir mirrors a changing consciousness process, akin to 'The Remains of the Day,' where the author aims for the reader to surpass the character in self-awareness. By withholding key personal details initially and gradually unveiling them, the memoir explores themes of confronting one's history, identity, and internal struggles, portraying a nonlinear and chaotic yet authentic journey towards self-understanding.
Today’s episode is an interview with Carrie Sun, whose memoir PRIVATE EQUITY came out yesterday. (Buy it here!) The book is a memoir about the time Carrie spent working as the right hand for one of the country’s most famous billionaire hedge fund managers. We talk about the allure of finance and Wall Street, Ishiguro and restraint in writing, the ways in which political awakenings can sometimes be quite mundane in their origins, and a lot more about this wonderful book. If you’re a fan of everything from Ishiguro to Michael Lewis, this book is worth checking out, especially if you want to see what its like to work in a place where there are daily exploitations, insane expectations, but also sometimes there’s a bag on your desk and there’s a $2000 pair of leggings inside.
Enjoy!
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