Goldman Sachs, Port Washington, Washington discussed on Recode Decode

Recode Decode


Tech and media, all businesses, wins, and fails and predictions for what comes next, just search for pivot in your podcast APP of choice. But now here's my interview with the March Anthony Scaramucci from March two, thousand eighteen. Did you ever think you'd be here? No I never thought I'd be here given the fact that you bomb me on twitter. Trolling bombings fine I actually personally like you so Trolling I, thought it was reading her it doesn't bother me was funny. Actually doesn't bother me all I think I've learned after my Firing and my rolling in broken glass and. I actually have a strong concept I can take about. Like you quite a bit anthony the. They. Amused by you for sure but they're definitely going to give it to you. But you give it back. So it's just as fine. So good. So let's start. Who you are Anthony Scaramucci want to address the media at one point. Very important for the United States who in my good question. Okay. Hopefully figure that out before I die but but I I grew up in a middle class family. My parents didn't go to college my father or in. A Long Island where I grew up in a town called Port Washington. Harbor Anthony. Okay. So you do you remember you remember McCormack sandstone. Gossip Sandstone. Okay. So you know where the clock tower is. Right, and so if you head North out of Rosalind interdependence. But into the peninsula. On West Shore Road There was a very large sandbank meant there. You'll probably maybe. As a kid. So so our area rows and harbour port Washington had the largest granular sand deposit in North America, and so all of Long Island is a glacial deposit. When the receded back to North? Ball. Long Island Block Island Nantucket Martha's Vineyard the elbow of Cape Cod right and there you go and so right there in the peninsula port Washington it took ninety five years for Italian Welsh and Irish immigrants to mine out that sand. So my family originally started in Wilkes Barre Pennsylvania. Scranton. Yes. Go planes actually. Coal Mining Company anyway go ahead. Okay. So my so my grandfather actually wasn't a minor but he had a store in that town in plain Pennsylvania and so he told my my father and his two older brothers to leave the town you didn't want them going into the minds and so. They responded to classified advertising to go mind sand on Long Island. So they landed in the town of Port Washington and my dad started with a payload or I worked conveyor belt of used to measure barges is probably giving you too much more than you want but. The the sand would be put on a barge in by Bar, Beach Harbor it would be tugged voted through the thrives neck over long island city, it would be mixed with the concrete building. Yeah. So people don't realize is that the the gateway for the skyscrapers here was the Queensborough Bridge, the fifty ninth street bridge it was it was erected in nineteen o nine and so you took the sand from Long Island mixed it into concrete and you had those big singer cylinder trucks ride over the coins Borough Bridge to build these buildings. So sixty five percent of the concrete. Came from my hometown from nineteen zero, five to two thousand delegate. My Dad spent forty, two years in that company Lasso. So he worked for the same company for forty two years. SORTA with his hands never went to college had an unbelievable work ethic I. Still See and remember my mom preparing lunch Pail Mom's a homemaker homemade. So this is very important to understand because. that. Family that I came from was an aspirational working class family. We live in a working class area of the town port Washington quite affluent is thank God for that because it was a very good public school system but there are certain clays inside poor Washington in the one, thousand, nine, hundred, Seventy said had blue collar people in them. and frankly people could afford to live there because there were very high wages post World War. Two. As we were continuing our industrialization these other nations were vanquished. There was a shortage of labor and so my dad had what I would call a light blue collar wage for a blue collar job. It wasn't a white collar person, but we had sear's tough skins. We were taking air conditioners in and out of our. Our House. We shared one bathroom five of us, but it was a was a great way to grow up and so and I was a product of a very good public school system. So. Poor Washington. So I'm not one of these even though I'm a Republican. I'm not one of these conservatives. That are for no government or too small of a government I believe that yet to have an energetic government to help create. A level playing field or at least as level. No question, and so you need the Republicans are going to have to wake up and recognize that they're not gonna fix the edgy uneven educational problem in the United States through charter schools or school choice and things like that there elements. Of the process of fixing it, but you have to have broadscale public education. Broadcast Teaching. Them Surat scale public education reform. An S come through the public schools and as of come from Union accountability is not GONNA come from I've got a charter school and that's what we're GonNa do this I mean they're great and they should be supported and I do support them financially but it's not the single element. So so here I am in his blue-collar enclave and a very nice community twenty, two miles from. Manhattan and I go to Schreiber high school. You may remember that from Rosin Harbor. go to Tufts University and from Tulsa go to Harvard law school. And getting myself educated, and then it dawned on me that I'm GonNa do better in the world of finance and investing would less surly practice practicing. Goldman, Sachs. I spent seven years there. Banker Anthony Noise sucked. It's terrible being banker so I started an investment banking. My job at Goldman started on August fourteenth nine, hundred, eighty nine. I was fired from Goldman Sachs on February first, nineteen ninety. So I sucked at it so. What was your Sasha being an investment banker an investment banking associate I couldn't do the spreadsheet math and the macro algorithms that you needed to do to run. The process was bored to tears by it, and Goldman is a pretty swift place at recognizing when somebody socks and so it took eighteen months they fired me and this is a learning lesson for younger people listen to your podcast don't burn any bridges and so I stayed tight with the guy that fired me and I came back on Monday it was fired on Friday February. I I was back Monday pumping quarters. I got a roll of quarters because there were no cellphones back then. Pumping, quarters in the pay phones here amid midtown Manhattan and one of my buddies that, hey, there's a job opening at. At Goldman Sachs. So I laughed I said, where is it? It's in the investment area. and. So I, call my old boss who had just fired me I said Hey, there's a job opening on the twenty eighth floor. Had, gotten fired from the seventeenth floor I said, could you put a good word for me? So you know what I would you're an honest guy work hard. You just sucked at this job, and so I went upstairs interview for the the other job and got rehired into Goldman Sachs. No took about six weeks and so I was fired. What did you move from fired on? February first and I got rehired on March twenty eighth. So I moved into the equities area, the stock. Market. Area. And that was great I thrive. Not moved to..

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