Goldman Sachs alums strike out on their own

March 10, 2010 | By Jim Kim

We tend to hear a lot about Goldman Sachs (NYSE: GS) alums who end up in politics or public service. But there are many alums, who weren't slated to become Treasury Secretary some day, who have struck out on their own as entrepreneurs. It would be hard to spin any conspiracy theories about the three profiled by the New York Times article--one started a home security firm, another started a kids shoe company, another started a retail outfit and education firm aimed at mothers. They all seem much happier.

Let's face, Wall Street--not just at Goldman Sachs--is a grind. You've really got to want it. Is it worth the grind only to find out you didn't make MD? The Times asked them all for advice about what Goldman Sachs could do for small business. Recall the firm has tried to paint itself as small business-friendly, if only for PR (PR news) reasons. I once suggested it buy CIT. The most interesting suggestion was to create a system to extend small business loans, rate the debt and securitize the debt as a way to expand liquidity. Interesting.

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