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Auren Hoffman's avatar

was just forward this from a reader:

"In 2009 after the panel had produced its third report, concluding that the risks to the American taxpayers were far greater than Treasury let on, Lawrence H. Summers, then the director of the National Economic Council and a top economic adviser to President Obama, “leaned back in his chair and offered me some advice,” Ms. Warren writes.

"Larry’s tone was in the friendly advice-category. He teed it up this way: I had a choice. I could be an insider or I could be an outsider. Outsiders can say whatever they want. But people on the inside don’t listen to them. Insiders, however, get lots of access and a chance to push their ideas. People — powerful people — listen to what they have to say. But insiders also understand one unbreakable rule: They don’t criticize other insiders."

More: https://fs.blog/are-you-an-outsider/

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Jeremy Cai's avatar

Enjoyed the article but can't help but think that the "insider" and "outsider" terms are a stretch. The average person would very much consider Naval, Chamath, etc as insiders, albeit anti-establishment (per your diagram).

Perhaps terms are "new guard" vs "old guard" - easier to see the parallels in any industry i.e. Bernie/Trump vs Biden/Newsom, Virgil Abloh vs Brunello Cucinelli, SBF vs Jamie Dimon, etc.

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