From Stephen Fry: "You know that scene in Animal House where there’s a fellow playing folk music on the guitar, and John Belushi picks up the guitar and destroys it. And the cinema loves it. Well, the British comedian would want to play the folk singer. We want to play the failure."
Homer and Peter Griffin are idiots but they smash the guitar. Charlie Brown gets his guitar smashed.
I believe that Happy Days started the trend in the 70s, with Mr. Cunningham being portrayed more realistically than earlier TV fathers. Allegedly (I can't find a source) an executive said "He doesn't look like a father. He looks like my father."
I've worked in finance for 20 years and this is the complete opposite of my experience. Excel is ubiquitous and drives all sorts of business processes in various departments. I've seen people I would consider Excel gurus, in that they are able to use Excel much more productively than normal users, but I've almost never seen anyone use VBA.
There's a lot of confused comments on this thread. "Front running" in the strictest sense means illegal trading that involves taking advantage of trades that you know will happen and you have a responsibility not to exploit. "Front running" is also used informally to mean legally trading prior to trades that you anticipate happening. Studying the rules of an index and buy a stock just before its added to the index and index funds are required to buy it is "front running" in the second sense.
I'll admit that this is a charitable reading of the essay, but I think that MS was dead in 2007 and is still dead in 2025, in the sense that Graham was focused on. In the 90s startup founders were scared that if they started a software company MS would copy their idea and crush them. Bill Gates used to talk about how he wanted to "monopolize" software before the lawyers caught up with him. By 2007 MS was mostly irrelevant to startup founders, and with a few exceptions it's mostly irrelevant to them now. They're not in the business of crushing the life out of software startups anymore. Paul's a VC, and that's what he was focused on.
That's a legit take. But I also think PG conveys his point poorly. He uses terms like "no one" and "dangerous" - and even "dead" - in a non-standard way without clarifying their meaning. Perhaps the meaning was more obvious to members of the startup scene in the 2000s, but then he's tying himself into a subcultures's perspective, which I feel is just as problematic.
I've done a fair amount of technical hiring at hedge funds, my experience doesn't support this comment. There is some amount of credentialism/elitism in hedge fund hiring, but I see that more on the fundamental investment side, and much less for technical roles. There are a lot more hedge funds than FAANG companies, and different funds can have very different cultures.
I'm talking about traditional small long short funds, private equity, and under the radar very elite hedge funds. Its different for quant shops like citadel or two sigma. Those treat you like a commidity programmer that they pay a 20% premium on over FAANG
Probably the most important reason this story got big is because it involved Dan Ariely, a popular author and perhaps the most famous active researcher in the world.
Off topic, but as a finance nerd I want to point out that if you know you won't touch your money for 10 years and put it in a savings account paying 5% you are bearing "duration" risk. It's possible that interest rates will fall a lot and by failing to lock in a 4% return you end up with less money at the end of 10 years. (Just a technical note! You probably shouldn't buy 10 year treasuries!)
Homer and Peter Griffin are idiots but they smash the guitar. Charlie Brown gets his guitar smashed.
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