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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

More Than a Paycheck - Goldman and Google Quitters Explain

I ran across two different "why I am leaving" articles this week.

One made it to the Op-Ed page of the New York Times - Why I am Leaving Goldman Sachs. Congratulations to Greg Smith for waking up to what outsiders were noticing for years. 

Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.

I'm not sure that this needed to be in the New York Times as everybody with a pulse knew about Goldman's Corporate culture. Perhaps, Mr. Smith needed one last Christmas bonus before making his perfectly timed (based on his description of the firm) exit. 

A former Googler, James Whittaker posted his reasons for leaving Google on a blog - Why I Left Google

The Google I was passionate about was a technology company that empowered its employees to innovate. The Google I left was an advertising company with a single corporate-mandated focus.

These kinds of parting manifestos from senior employees were unheard of a few years ago. Don't rock the boat. Don't burn your bridges. What comes around, goes around. Today, we live in a world of ever increasing transparency and even powerful corporations are unable to stop it.