Telecommunications Inspirational Quotes

One Stanford op-ed in particular was picked up by the national press and inspired a website, Stop the Brain Drain, which protested the flow of talent to Wall Street. The Stanford students wrote, The financial industry’s influence over higher education is deep and multifaceted, including student choice over majors and career tracks, career development resources, faculty and course offerings, and student culture and political activism. In 2010, even after the economic crisis, the financial services industry drew a full 20 percent of Harvard graduates and over 15 percent of Stanford and MIT graduates. This represented the highest portion of any industry except consulting, and about three times more than previous generations. As the financial industry’s profits have increasingly come from complex financial products, like the collateralized debt obligations (CDOs) that ignited the 2008 financial meltdown, its demand has steadily grown for graduates with technical degrees. In 2006, the securities and commodity exchange sector employed a larger portion of scientists and engineers than semiconductor manufacturing, pharmaceuticals and telecommunications. The result has been a major reallocation of top talent into financial sector jobs, many of which are “socially useless,” as the chairman of the United Kingdom’s Financial Services Authority put it. This over-allocation reduces the supply of productive entrepreneurs and researchers and damages entrepreneurial capitalism, according to a recent Kauffman Foundation report. Many of these finance jobs contribute to volatile and counter-productive financial speculation. Indeed, Wall Street’s activities are largely dominated by speculative security trading and arbitrage instead of investment in new businesses. In 2010, 63 percent of Goldman Sachs’ revenue came from trading, compared to only 13 percent from corporate finance. Why are graduates flocking to Wall Street? Beyond the simple allure of high salaries, investment banks and hedge funds have designed an aggressive, sophisticated, and well-funded recruitment system, which often takes advantage of [a] student’s job insecurity. Moreover, elite university culture somehow still upholds finance as a “prestigious” and “savvy” career track.6

Communication leads to community, that is, to understanding, intimacy and mutual valuing.

The mobile industry quickly developed, and lawyers, investment bankers, consultants and contractors offered their services. The feeling of ownership of the projects and the effort of getting networks up and running within the shortest possible time span was gigantic. Engineers slept in their cars to make sure that they could start early mornings, ‘war rooms’ were kitted out with huge maps, project timelines, pictures and milestone markers. Contests ongoing between different teams in the specific country regions where we were building. Employing a thousand people in no time and generating work for tenfold that number; network and other suppliers, construction companies, distributors, retailers and other often highly skilled third parties.

It was a late Friday afternoon when old Mr. Bartha came to my office. I offered him a drink and gave him a quick rundown of what we needed. I had prepared a Memorandum of Understanding and handed it over to him. When he saw the daily fee, which was market rate, but lowish, he suddenly became very emotional and cried. He said he couldn’t accept. His company was almost bankrupt, hundreds of families with children were very poor now. Couldn’t I raise the fee a little bit, he asked, shyly. I looked at him and saw him struggling, my heart broke, this old man was trying to help so many people. I thought about my budget and about what I would have to explain to the new CEO, Christian, a nice and competent Norwegian, and decided instantly to raise the fee. And as for my budget and explaining it to Christian, I’d cross that bridge when I get to it, I thought silently.

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