Jun 24, 2008

on Attention Deficit Disorder

Ok, the last post was just published, but I figured i'd give y'all a double whammy. To be fair, it took me some time to finish the last one, since its a tough topic to write about...

Ah, ADD. This is a funny one for me, because I have never been diagnosed with ADD. However, I can definitely tell you I have ADD. How do I know? Well, at this very moment, I am carrying on 4 IM conversations, reading e-mails, listening to the new Coldplay Album. I cannot fall asleep without the TV on, even if its the same Seinfeld episode I watched last night. I physically cannot handle sitting still for much time at all (I hate sitting on the beach, or sitting in "the park" for this exact reason). I don't have a blackberry anymore, but it would be nearly impossible for many of my colleagues to know, since I have a serious level of internet addiction (when you click Send/Receive within Microsoft Outlook, even when its set to check every minute, you know you have a problem). I subscribe (RSS Feed) to over 25 blogs, of which I respond/comment regularly on 5. I like being busy, to a fault.

Is this a bad thing? Most scientists and nearly every professor at INSEAD thinks so... One professor even suggested that we are much more likely to suffer from stress-induced heart-attacks than our parents - hence the new workout routine. Its a scary world we live in, where information is at our fingertips and overload is inevitable. I find those random moments, when I do not have access to the internet or my phone (for example, when my home, in Montigny Sur Loing, internet goes down, I am out of communication options, since there is no reception in the forest) to be at first quite anxiety driven, then often calming. There is nothing like reading a book in an obscure old house outside Fontainbleau, France, to soothe the mind and keep sanity in this hyper-stressful world.

One interesting thought comes to mind. When I was in high school, when you dated a girl, you spoke over the phone and went out on dates. Today, there are new parts that have been adding to the complexity of dating, namely "Facebook profiles", "Web Blogs", text messaging and IM chats, to name a few. Do you have your girfriend listed as such on Facebook? Did you write about something you two did or experienced together on your blog? Is she at her computer and deliberately not IMing me? This makes the entire process all the more intense and stressful, as communication frequency is artificially increased and made more complex.

The same is true in work, where a blackberry puts nearly everyone "on call" 24 hrs/day anywhere around the globe. You can no longer hide, relax and take it easy, while still feeling in relative control of your life. Its a bit of a sad existence.

I am not sure how or when, but at some point I will give up on needing to know everything at all times. The human mind cannot take it all in, and is likely to get confused more often in this new world. We'll all eventually need to slow down. Simplicity in this complex world seems to be valued greatly. No longer are the coolest hi-tech gadgets valued on their complexity alone, but on their simplicity in operation, and how they eliminate our clutter-filled lives. Hence, the iPhone excited folks who can now get rid of 2+ devices (phone, iPod, camera, PDA) and replace it with one simple gadget.

Needless to say, we live in a world where everyone has (some form of) ADD, and the "here and now" is more critical than ever. Classes and lectures will likely need to be scaled down and focused on key soundbites. The media will continue to share more sucinct news segments that can keep our attention. And our friends in the ad business will need to work even harder to keep our minds on Coca Cola and Budweiser... Welcome to the new world...

Jun 22, 2008

On Judaism

So, its now time to tackle a major part of my life and something that I hold near and dear. Judaism is the religion and history of my parents, grandparents and great-grandparents. It is a largely intellectually motivated religion, accompanying an ambitious sect of people who have somehow been able to survive over 5700 years of history. It's part of my life whether I like it or not.

And for the most part, I like it a great deal. As a young boy, my parents instilled in myself and my sisters the need to identify as a Jew, and to connect with the spiritual/religious reality of Judaism. My childhood education was focused on both gaining traditional secular studies in Math, Science and the Humanities, while also getting a healthy dose of Judaic Learning, including Tanakh (Bible), Talmud (Jewish Legal System), and Customs. The schools or 'yeshivot' that I attended also encouraged a healthy dose of questioning, focusing my young mind of sharpening arguments and understanding the underlying philosophy behind the basic tenets of Judaism. All in all, the education at these schools were quite strong, and helped solidify the main elements of Judaic thought in my mind.

The downside of a traditional 'yeshiva' education was also quite clear to me, particularly as I entered secular society while at Cornell. The 'safety' of being in a 'yeshiva' environment, in which all the students and faculty are religious Jews with a similar view of life and what is important, led to 'group-think'. The community was quite tight-knit and focused on maintaining its 'closed culture' to ensure future continuity. This is an entirely rational response of course, in light of anti-semitism and the lack of preparation that 'yeshiva' students have for interacting with non-religious Jewish people. However, as a member of an open, intellectually driven society at Cornell, it became clear that I was not like everyone around me, and that I would stand out like a sore thumb.

During my time at Cornell, I became fascinated with understanding even more about Judaism than I already had. Much of this stemmed from my new found interest in the other monotheistic religions, Christianty and Islam, both of which were fairly forbidden conversation topics in yeshiva. I began to read about Jewish history, and understand how we got from the old bible story of crossing the 'red sea' to Jews living in New York City, eating kosher pizza and wearing traditional garb. I needed to understand...

As I began to read, my thinking changed as well. Judaism is a beautiful religion, but ithe way it was practiced by my friends and family was not entirely fitting my comfort zone anymore. Specifically, the "modern orthodox" community, designed to retain religious conviction in light of Jewish emancipation in Europe, led by Samson Rafael Hirsch in the 1850s, had given up the traditional intellectual roots of the religion, in favor of maintaining the traditional lifestyle. The concept of Modern Orthodoxy has primarily failed, due to the fundamental difficulty that nearly every political or religiously liberal movement has - the contradictory nature of its underlying value system. Modern Orthodoxy encouraged young people to enter the upper echelons of society while maintaining Jewish tradition. Walking around Wall Street in New York City, one can clearly see this concept has succeeded, at least artificially. It is hard to find a trading floor, research desk or other function in the financial services business that does not have at least one Jewish boy with a yarmulke. However, by encouraging its youth to take on these kinds of roles, and not roles within Jewish academia, the Modern Orthodox lost sight of a fundamental need for sustainability of the movement - teaching and leading the spiritual lives of the community from a young age onward through life. This left a strong vacuum, occupied by two extremes: The Charedi community (which was founded as an alternative to Reform Judaism and Hirsch's Modern Orthodox in mid 1800's as well by the Chasam Sofer in Pressburg or today's Bratislava) and the Modern Conservative/Reform communities.

On the Reform and somewhat on the Conservative sides of the table, leadership from these movements pushed Jewish people to adopt modernity to a fairly strong extent, with Reform acting (at least initially) to rapidly and radically alter the religion in favor of a the Christian "belief" model, where communal activities were reduced to once a week or a few times a year, and the practice of Judaism on a day to day basis was significantly reduced. Their argument was to fully embrace emancipation and seek to blend better with Christian Europe. This was quite a shift, including a change of Sabbath day from Saturday to Sunday, and a change in prayer books from traditional Hebrew to German.

The Conservative movement, founded in the U.S., sought a compromise position between Modern Orthodoxy and Reform, and has also suffered many of the problems that Modern Orthodoxy has felt (including several identity crisis). It has struggled to find a happy medium between movements that were widening the gap for much of their existence, often failing to please anyone, including their diehard followers. As a result, Conservative Judaism has varied from city to city, synagogue to synagogue, with many looking very similar to either Reform or Modern Orthodox synagogues.

The Charedi community, led by the Chasam Sofer, took a drastic move in the opposite direction of Reform. The Chasam Sofer outwardly pushed Jews to fight emancipation, feeling that it would cause too many problems and questions of faith within his people. In fact, in 1850, he applied a fascinating concept from the Talmud, intended to cover a Jewish law about eating fruit and grain from older harvests during the "shmita year" (a year in which Jewish farmers were not supposed to farm, allowing the land to rest - probably a very intelligent model, since it elimintated overfarming problems that other communities have had over history), in which the phrase "Chadash Asur Min Ha'Torah" ("Items that are new are not permitted, according to the bible") was applied to all things new from that point on. In essence, the Chasam Sofer suggested a freezing of time, and implied that Jews should strive to live lives like their forefathers who lived during the 1850s. Hence, the Charedi community today is known to wear historical dress from the 1850s in the Eastern European region. This community and its underlying ideology has spread like wildfire, taking a major step towards adding most of the remaining Modern Orthodox people, many of whom depend on scholars from this community to teach their children (and themselves) over their Reform counterparts. The result is a very religious community, pushing for the greater community to go retro - 1850s style.

Hence the world I was brought up in. A world in which Modern Orthodox thought was losing way to Charedi Judaism, and a person seeking to study the world and be a member of greater society found less and less room to maneuver. I recall quite well my conversations with colleagues in high school, when we decided to apply to college. I was the only student in the class applying to Cornell, because it was considered a "Makom Sakana" (a "Dangerous Place"), because our ideology would be tested by the environment/surroundings. Some of my best high school friends were willing to end our friendship because I was choosing "the road not taken" - literally. It was a very tough and lonely time for me, as many of my friends took the "safe path" towards a life and career of choice for the Charedi community, namely Talmudic study, Rabbinics, and some careers oriented towards flexibility. While on some level these pursuits were intellectual and in line with my interest in being a worldly and learned person, I felt that this approach was fairly counter to my fundamental beliefs...

In fact, I felt that the choice of friends and colleagues was going to be quite difficult to swallow. In high school, my friends and I would only eat kosher, but we couldn't intelligently answer the question of why, if asked by an onlooker. We'd follow traditions that were even more obscure, using fairly ridiculous or poorly constructed arguments to back up our traditions - (Why do we celebrate Jewish holidays for 2 days outside of Israel and 1 day inside Israel? Because in the past, we didn't have a functioning Gregorian calendar to tell us when the holiday arrived, so we would rely on an inefficient mechanism of messengers to get the dates to the people in far-away towns. Should this apply today?). At the same time, the traditions were so near and dear to me that it caused internal conflict - I know this probably makes no sense to follow, but I should do it because my parents, family, and friends do.

In college, I went with a fairly open mind, convinced that I had a strong upbringing and understood the fundamentals of Jewish values. I also believed that we probably did not have a monopoly on "the truth" or "righteousness", in line with Maimonides. the pre-eminent Jewish medievil philosopher. His works are commonly used by religious scholars and philosophers everywhere, including the famous "Guide to the Perplexed". His works were influenced heavily by Aristotle and other major western philosophers. He argued profusely that Jews were not necessarily the sole owners of "the truth" and that there was an underlying value in understanding the outside world. With his words as my compass, I sought out further knowledge and began diving into all kinds of philosophical works and Jewish history accounts. I read works on all kinds of topics, including Spinoza, the Falashas (Ethiopian Jews), Sephardim (Spanish Jews, including those who ended up in the Middle East) and Ashkenazi Jews (German and Eastern European origin) history, Josephus's account of the end of the 2nd temple (and the founding of Christianity), and others.

The result was a clearer understanding of how we got here. In fact, counter to the teachings of my elementary and high school, Judaism has been adjusted many times over the course of 5000 years, particularly in the last 2500 or so, to ensure its survival. From fundamental changes, like the shift from Priest/Kohanic-led and sacrifice-oriented worship to Rabbic-led and prayer-oriented worship that occured sometime after the 1st temple was destroyed, to more minutia, such as the ability to charge interest on loans (to allow the Jews a profession within Christian Europe), and the ability to eat rice on Passover (for Sephardic Jews, in direct response to their needed diet to survive). Adaptation has been a major part of our tradition, and was encouraged, albeit responsibly, but major sages since the beginning of Rabbinic Judaism. There are countless examples, and we could spend weeks discussing them here, but i'll refrain from further boring you all...

This all changed in the 1850s, with the Chasam Sofer, and his fundamental shift towards closing the floodgates and imposing a finality on change for Judaism. This change, while arguably justifiable, does not seem intellectually honest, at least not to me. Coupled with the personalization of the world, in which everyone can have their own 'brand' of lifestyle and religion in the U.S. (and much of the western world), I find myself trying to put together a more personalized Judaism that fits me and my intellectual understanding of how things should be done. The result is a mess...

To begin with, I believe that there is beauty and truth that can be found in Judaism that is unique and provides an excellent value proposition to anyone who is interested in searching for it. I also admire how the Jewish people have stayed a relatively cohesive social network over the tough periods of 2000 years of opression, and how it has been a secret weapon to our sustainability. It's an amazing thing I hope to help further in my lifetime by helping my fellow Jewish people further grow and enhance their standing in our world.

I am also even more convinced that Judaism does not hold the only key to "the truth" nor do we own the only vehicle to interact with/please God. I have traveled across a large part of the world (according to Facebook, only 19%, but still quite a bit) and am convinced that people all over the place have found a place for spirituality and greater meaning in their lives. I don't believe we have a monopoly here. Additionally, I do not believe that a single sect of Judaism has any better sense of the truth, than any of the others. I often refer to a handful of Reform-ordained Rabbis who I find personally stimulating and significant in growing my own position, including Rabbi Ed Rosenthal in Cornell, and Rabbi Morris at the Skirball Center in New York. Both are incredibly bright, articulate and learned people who are humble enough to admit that they dont have all the answers and their approach may not have all the answers. In fact, my affinity for these guys probably speaks to my love of the Hillel organization - a student organization found on college campuses that runs events and programs for both denominational and non-denominational Jews. Its a great feeling to see students from all walks of life interact with ease, and feeling comfortable with others of differing religious views.

So, where does this all leave me? I guess one could say that in the eyes of my colleagues from elementary school and high school, I am probably a heretic and could be burned at the stake somewhere (or maybe justifiably stoned). I prefer to believe that I am on a spiritual journey that has taken a few interesting twists and turns over the last couple of years. I do not have all the answers, nor do I claim to, but I am working on understanding and finding out how best to live a moral and spiritual life. My life is probably not the one projected for me by my parents and grandparents, but it is my own and one I'm comfortable with. Frankly, thats all I can offer at this point...

Jun 20, 2008

Life Goals

My last post had me thinking quite a bit about the direction in which my life is going and about some things I am seeking to accomplish near-term, medium-term, and long-term. To give a bit of context, I was always the ambitious planner...

As a child, I began using the family's IBM PC Jr. that my parents were fortunate to win at a Chinese Auction in 1984 or 1985. At the young age of 6 or 7, I began programming code in Basic, using the commands given in "Compute", a magazine my father started receiving at home (one of the benefits of being a doctor/dentist's child - free magazines). From this, I became addicted to early baseball games for the PC, including Earl Weaver Baseball 1.0, 1.5, and finally 2.0. Yes, this sounds totally like loser-talk (and it might be), but I used to run baseball leagues with my friends at school, printing off hundreds of pages of stats on our home dot-matrix printer (was super loud - my parents did not love it) and then running a virtual "fantasy baseball" league, in which the games were simulated on my PC. Yes, it was rudimentary, but I was always the leader, the organizer, the one thinking these ideas through. My interest in these games led to a full on obsession in middle-school, when Dynamix (became part of Sierra Online) came out with Front Page Sports Football, a game with an incredible simulation model, that was super addictive. Using this as a model, I wrote a letter when in camp one year (probably 1993 or so), suggesting they add the backend tools of FPSF to their already growing franchise football game, John Madden Football. The letter was written on camp stationary in my poor handwriting, but for some reason I did get a call from Electronic Arts later that fall to talk about my ideas (many of whom have been implemented in the series over time). Yeah, i've always been ambitious...

Regardless, here are some of my key goals:

Short Term (through the end of August)
  1. Language Skills: Part I - I need to get my hebrew skills in order, so that I can successfully survive in Israel. I'm sure that will not be too difficult, since I used to be quite good with the language, but I need to focus on it for a few hours a day when i'm back in New York.
  2. Language Skills: Part II - I desparately want to continue learning Mandarin Chinese, which I began while at INSEAD. This is a language that can be truly beneficial to me as I develop my career over the next few years. I have gotten over the initial hump of Chinese and feel that I can get to a point of Business Level if I keep up the learning for the next 6-12 months.
  3. Weight Management - Yeah, this is a dumb one, but its finally time... I've toyed with all kinds of programs in the past, but I finally kicked it to the curb 2 months ago and started working out nearly every day of the week and trying to eat right. I know this is a long process, but I have already made a major lifestyle adjustment and I am focused on keeping it up.
Medium Term (through the end of 2008)
  1. Learn the Venture Capital Business - I've spent a good amount of time at INSEAD picking up skills that should theoretically give me a good chance at success in VC. I know though that i'll need to spend a ridiculous amount of time understanding how the business works, how best to assess new ventures, and how to help entrepreneurs succeed. It will be fascinating and quite fun, but I know the challenge will be heavy.
  2. Become an Israeli - As much as I can, that is. I need to find a place to live, a community to be a part of, and a life of my own in this new country of mine. I know all the opportunities are there, and I know i'll have family and friends there to rely on, but it will be very important for me to get my own life in order over there. Social life is even more critical than personal space.
Long Term (through the end of 2012)
  1. Schedule Trips Around the World - As mentioned in my previous post, I am eager to further see the world, particularly: Rural China, Russia, Mongolia (Trans-Siberian Railway), Ethiopia, South Africa, Syria, Lebanon, Portugal, Ireland, Argentina, Peru, Chile, and Mexico. It's important to me that I continue this journey around the world, and that it not be postponed or put off for too long...
  2. Become Fluent in Mandarin and Business Level in Arabic Language - These are important to me, because I belive the two languages will be critical in my future success anywhere I am. Without question, these two languages are likely to grow in usage globally, not diminish, in the next 25 years
  3. Find My Partner - Yeah, we've hit the epicenter of trite comments. OK, so I obviously have no idea when/where or how I will meet this person, but I do hope it will happen within the next 5 years (or at least before all my hair falls out). Mom and Dad - i'm working on it every day, but it cannot be forced, it has to happen organically...
OK, I should write more here, but its 2am and i'm exhausted. Let's just say its a work in progress... Let me know what you think (especially if I'm missing critical things)

Jun 18, 2008

Yesterday, Today and Tomorrow

Last night, on a flight back to Charles de Gaulle airport in Paris, I got caught up in a Jim Rogers book, "Hot Commodities". He is now my favorite finance author, replacing all those "trashy finance novels" that I used to read (think Liars Poker, Monkey Business, Ben Mezrich's stuff, Michael Lewis). He's a bit of a crazy person, but he speaks to my strong interest in independence, investing, and understanding how the world truly works. Fascinating writer...

Regardless, midway through the reading, I began to think about where I've been over the last year, how my life is different from that of my parents and grandparents, and what it all adds up to. So bear with me here...

My grandparents on my mom's side were American-born, middle-upper class people who enjoyed much of the American Dream - Beautiful house in suburban Long Island, smart children attending the right schools and universities, a family business that was well-respected in the community, community leadership positions, beautiful big Cadillac (huge, "boat-like pimp-mobile", as my sister used to call it), vacations around the U.S. and some major cities in Europe and Israel... They were domestically oriented people for the most part, fairly content living their life in the suburb, traveling mostly by car within the tri-state area, and getting on an airplane a few times a year. Most of their friends and colleagues were Americans, with a good majority from the Jewish community.

My father's parents were Hungarian, having come to the U.S. at a very early age from Budapest to avoid Nazi persecution. They lived a more modest, immigrant lifestyle, based heavily around my grandfather's various businesses. My dad was brought up in a fairly religious home, where he was strongly encouraged to become a doctor (he became a dentist). My grandparents were not necessarily very wealthy, but they did provide what they could to my dad and his sister. They lived in the Bronx, in a strong Jewish community, and were very Jewish-community oriented folks. They rarely got on an airplane (usually once or twice a year), even post-retirement when they moved to Deerfield Beach, Florida. Their lives were domestic, very focused on communal leadership and were public transportation folks (my dad used to tell me about how my grandfather used to buy hot sweet potatoes sold on the street, by the train stations on the Lower East Side of Manhattan, before taking the long trip back to the Bronx). Nearly all of my grandparents friends were Jews from Hungarian/German or otherwise Ashkenazi background.

My parents have lived in Brooklyn since they got married over 30 years ago... My mom has been trained in Occupational Therapy and has been a nursing home administrator since I was a young boy. My dad is a retired dentist. Both of them have worked in environments with mixed ethnic employees and patients, yet both have friends who are almost entirely Jewish from New York. While my parents are comfortable flying on airplanes, with regular trips to Israel and other spots each year, they travel on roughly 4-8 flights per year. My parents rely heavily on their various automobiles (at one time we had four Toyotas) to travel within the tri-state.

My sisters and I stand at a fairly great contrast, representing the time and place we live in. To begin with, my oldest sister Mechal and her husband Chaim are constantly on airplanes across the continental U.S. and sometimes in Europe for work. They are very committed to the Jewish communities they participate in, particularly the religious community in Riverdale. Both have close colleagues from outside the Jewish community, and have fairly clear Internationally -oriented careers, but they have been nearly 100% U.S. focused.

My 2nd oldest sister Miriam, and her husband Mark, are Manhattanites through and through. They are both quite well-travelled within Europe and some other choice spots for both work and pleasure, and are fairly regularly taking their daughter Charlotte (see the blog on the right hand side) on long flights across the pond to get her passport stamped. They are both internationally oriented for their careers, although it is mostly within the developed western world (think UK/US for the most part). They do own a car in the city, but are primarily taxi riders and public transport people. They definitely count multiple non-Jewish friends from several parts of the globe.


As for me, I have been all over the globe, and I feel like I've just scratched the surface. I've got friends on nearly every continent. I look at airplanes like a seasoned business-traveler, namely the "Greyhound Bus System of the 21st Century", with mostly poor accommodations, poor lighting, air and general services, but unbeatable for time to destinations... While I enjoy driving a car, I don't expect to be dependent on one (that is, after my stay in Fontainebleau, France) as my career progresses. I've been a Jewish communal leader in high school, college and post-college, and hope to continue in that respect into the future, because its something important to me. However, the religion and its various rites are more complex for me to fully accept at face value (one day i'll post my thoughts, which are very complex, to say the least). Tradition is important, as long as its taken in stride and not the sole source of value in our daily lives.

My interest is in making an impact on international business, while also enjoying a work-life balance that my parents and grandparents were not able to achieve. Whereas mediocrity in certain respects seemed acceptable to past generations ("he's very smart and accomplished, so I guess I can overcome his weight problem" or "she comes from a good family, so you shouldn't worry about her making money"), it is not something people in my generation are willing to accept bar-none. We want it all, and we see it all within our grasps, so why settle...

While I am starting my post-INSEAD career in Tel Aviv, I am not sure where I will be in 5 years, let alone 10 or 15. When I'm 50, I expect to have spent significant time in the U.S., Israel, China, Singapore, South America and Africa. Whereas previous b-school students were told to take big corporate jobs to try to become a senior manager by the age of 55, I am seeking smaller, leaner organizations to make an impact and work towards independence.

I also fully subscribe to Marc Andreseen's view on a career as "portfolio", namely each job provides additional new skills that can be leveraged in an ambiguous future job that comes about strictly based on opportunity (e.g. when opportunity knocks, answer the door - no matter what is on the other side). Kind of radical.

Basically, I think we are living in exciting times, and i'm quite excited for the future. As mentioned in a prior post, my nail-biting has been increasing lately, as a direct indication of this incredible feeling of uncertainty, adrenaline and general excitement i'm feeling about my next step... I wonder what my great-great-grandparents would think?

Jun 10, 2008

On ISRAEL

That last post was tough to write, but i'm glad I got it off my chest... The fact is, what occupies the mind is what will come off on the page (or screen), at least for me. I tend to be very direct and clear with people, and more often than not, will dwell on a subject until it is resolved. For the last post, i'd argue i'm on my way to recovery, but am still resolving some of those issues in my mind...

Onto Israel... If you called me a year ago and asked me where I expected to be working after my year at INSEAD, I would have said:

1) Hong Kong
2) Tokyo
3) Singapore
4) London
5) New York

My thoughts on going to Israel were non-existent, not necessarily negative at the time. Of course, I had an impression from friends and colleagues who had moved there that it was a "tough place" to live and work, that the taxes were too high, that the government was disfunctional, and that the country might have seen its best years decades ago... Wow, that sounds fairly harsh when you look at it.

As such, I didn't even think about it as a real option for much of my time at INSEAD - instead I focused on opportunities in China, Japan and Singapore, since I was convinced that the far east was the place to be...

At the same time, I was also convinced that I'd want to go into Private Equity, a fairly obscure investment business, in which a PE firm purchases companies that are either distressed or just simply undervalued in the market, makes some changes within the management team or the way the company operates, potentially does some fundament fixes as needed, and then exits within 4-7 years. Now, for me, I had always enjoyed my consulting work in New York, but was convinced that Consulting, as an industry, was too risk-averse for me. Basically, you charge a standard fee for the most part, and provide advice to the company, which they then choose to accept or not. Rarely will you truly stick your neck on the line around an idea you believe in, even on projects where we included implementation. Don't get me wrong - the work was fascinating, the people were the smartest i've ever met, and the work was diverse and constantly changing, which helped me, given my strong undiagnosed case of ADD.

To me, PE would provide consulting-like diversity and excitement with the added bonus of liability and risk. This excited me greatly, to the point that I focused entirely on it while at INSEAD. However, as I moved along a bit in my time at INSEAD, I found out that much of the cool "consulting-type work" done in a PE context (the actual turnaround, day-to-day and strategic changes) are not really done by PE professionals. More often than not, they rely on existing management with a few new faces, and an outside consulting team, if needed. I was somewhat saddened to hear all that, since its information that proved my original thesis to be flawed. However, I was lucky to be introduced to a small section of the PE business, intended for startup phase businesses that just need seed funding to get going. This area requires a ton of hands-on experience, because the entrepreneurs rarely have all the skills they need on their current team. It felt like a great fit and I began to pursue it with great vigor in Asia.

Asia is a funny place - everyone says it is the next big market, and that China will be 'the force to be reckoned with' shortly. The growth in these markets is completely insane. However, when you go a level or two deeper, you'll notice a major contrast to western markets in where the growth is coming from - mostly manufacturing and the entrepreneurship of copying pre-existing business models. This clear from VC spend vs. PE spend (tons of the latter, less of the former). When I was in Singapore, there was concern about students there lacking 'creativity' (mentioned in my Singapore post), which holds true to some extent in china and other parts of Asia. They claim the education system focuses too much on hard skills and not on creative thinking. Today, VCs pay for pre-existing business models applied to China and the greater Asia. As a contrast, there is a reasonable amount of VC spend in India on new innovations, maybe due to the English education system, or the European-style beurocratic government that lends itself to ridicule, contempt and hatred, often spawning creative juices.


The U.S. by contrast, has been changing its focus from manufacturing to services for the last 50+ years. Additionally, in the U.S., Ireland and a few other spots in Europe, entrepreneurship has been embraced, with a focus on innovation, primarily in technology, medicine, and agriculture. As a result, these places have been sources of innovation for the global economy. Israel is a prominent member of this group of countries as well, with a ridiculous amount of entrepreneurship due to government encouragement, military participation and innovation needs, and a strong education system.


Hence, I found myself applying to positions in China and Israel, and began to see a real contrast in the kinds of work one would do in both places and what might differ. My take is quite simple - In Israel, I will learn classical VC from the Georges Doriot tradition and build a strong Israeli-U.S. network. In China, I will meet a bunch of cool up and comers and potentially build an interesting network in Asia. Since ultimately I see myself being in either Israel or the U.S. long-term, it made sense to go for an opportunity there.


Now, onto my thoughts on Israel. Whereas one time in my life I would have strongly considered moving strictly for Zionistic reasons, my feelings are now quite opportunistic. I do believe that Israel will be a fun environment for me to live, and certainly a change of pace from my lifestyle in New York. It has become home to Jews from all over the world, including a good number of people I knew from college and NYC. Even now, I always have strong feelings when I'm at Ben Gurion airport, either in anticipation of a fun and exciting time in Israel, or in contemplation around why I am leaving and where my 'real' home is... Israel can be an incredibly warm and inviting seductress, clearly enticing me to change my life to be there...

But, I do have some concerns...

#1 - The Culture - I am not an Israeli and was not brought up as an Israeli. I know they're a different breed, with a somewhat different value system and view on life. It will be a tough adjustment to being surrounded by these people, even though some of my closer friends today are Israeli or have Israeli parents. Will I fit into this culture and society?

#2- The Government - One of the black-eyes of Israel has to be the government, particularly of Ehud Olmert, who's approval ratings were at one point as low as 1%. This is a government that has screwed the public on a lot of occassions, despite being a fairly democratic society. They are listed regularly at a dangerous point on the "Corruption Ratings", put out by the World Bank. This is ineffective government at its best, with a country surviving and thriving despite its government. I hate to make the association, but I'd argue India and Israel have an awful lot in common in this regard...

This issue is a big one for me because i'm not a huge fan of Israeli actions in relation to the Palestinians, particularly regarding settlement development, which seems somewhat stupid at this point. I realize these are tough issues for any politician to handle, especially with the demographics in Israel moving the country towards religious and right-wing individuals, but I wonder if a political party with some courage couldn't help make those changes. I am also not a fan of pushing Israeli Army service upon myself (to some extent) or my loved ones, if I became a citizen. Not exactly the greatest idea on earth...

Additionally, I am not a fan of the high tax rates, and the global taxation model (in line with the U.S.) in which citizens pay taxes on income to Israel, regardless of where they live. Its dumb, especially in this new global economy where mobility is critical. There is a need for real improvement on these fronts...

#3 - The Stigma - For whatever reason, a Jewish person working in Israel does not necessarily gain what would otherwise be considered "international experience", because there is an underlying association of Jews with the land of Israel. As such, working in Tel Aviv is like working in New Jersey for a lot of American Jews. If you want the experience of working abroad, London, Zurich, Hong Kong, Singapore, or Tokyo are substantially better places to work, b/c they have a stronger association with "working abroad" for some reason. It's kind of unfortunate, since I can assure you that there are few scarier places for me to start working than Tel Aviv.

#4 - Travel within the Arab World - This might be a bit stupid, but honestly, I always enjoyed travelling, and had the following countries on my list that I might need to scratch off:
- United Arab Emirates - Yes, I've been to Dubai and Abu Dhabi, but I'm interested in seeing the other emirates, and maybe Oman
- Syria - This might seem like a strange choice, but Damascus is meant to be amazing, with one of the most interesting markets or souqs in the world.
- Lebanon - I was supposed to travel with a group of colleagues a few weeks back to Beirut, but we couldn't go at the end due to the Hezbollah takeover and the violence ensuing. However, I'd like to get there one day...
- Iraq - Yup, this one's wild, but if they ever clear up this mess over there, I'd be quite interested in seeing the birthplace of biblical Abraham, as well as other historical sites. Iraq could be a major tourist trap, if it can be sorted out...

All that being said, I am not unhappy with my choice to move to Israel. I believe the benefits and the opportunity outweighs the costs. It will however be quite an adventure...

Jun 6, 2008

ON "THE IMMIGRANT MENTALITY"

This is a new topic which is out of order, I know, but I promise to get to the others on my list soon.

The topic of the "Immigrant Mentality" has always been a passion of mine, as it seems to be a critical element for success in this now globalized world. Today, the playing field between rich and poor, have and have-not, etc, has been filled with many "hungry" people from the emerging economies. Today, there are tons of talented people from these markets eager for a life as good, if not better, than the one enjoyed in the west. What these people did not have in formal social benefits and opportunities available to many of us, they more than make up for with ambition and incredible determination. As a result, those of us educated and brought up in the western mentality must adjust our thinking to compete with these people on a global scale.

So what is the "Immigrant Mentality"? To me, it is the approach taken by 1st generation immigrants and one that is fairly personal to me. When my grandfather, Louis Weiss, first came the U.S. at an incredibly young age (early teens), he got off the boat from Hungary alone and immediately began seeking any form of work that he could do. This was a boy who should be in school by today's standards, worrying about his middle school prom date, not how he'll be able to afford bread and water for the day. It was his focus and intense interest in providing a life for himself and his family that drove him during his lifetime. His life was not easy by any means, but he was able to build a fledgling business, become a college graduate, and inspire family.

On my mother's side of the family, my great grandfather and grandmother were both Americans by birth, but also had to manage in a similar manner. After getting married, my great grandfather was diagnosed with tuberculosis. Because there were no formal cures at the time, doctors suggested that he go to upstate New York and breathe "country air". The photos of this treatment are quite amazing - men sitting in heavy coats, hats, scarves, gloves by a frozen lake. Truly amazing. My great grandmother was a brave woman to be able to handle such a radical shift in lifestyle so early in their marriage. After he was cured, the two of them opened a pharmacy and gift store in Long Island, in a strong Anglo Town. This was a hard place for them to live, given the fact that they were Jewish and were not entirely like their counterparts in this highly conservative town. Nonetheless, my great grandfather managed the business to success, building a name for himself and his family in the town, even being a Free Mason and members of the key local clubs, despite being a Jew. He was also a major participant in the building of the town's synagogue and Jewish Day School.

My grandfather was sold the business and built it into a much larger and impressive enterprise, leveraging the reputation his father had built in the community, and adding his own narrative. As a trained pharmacist, my grandfather was known to offer the best customer service in town. One particular story I recall, involved his filling a prescription and dropping it off to a customer on Christmas Eve in several feet of snow. He was a tireless leader who worked hard and played hard, for the sake of his family. He too further extended the family's commitment to the local general and Jewish communities. Unfortunately, as a sign of how unfair the world can be, he was diagnosed with Alzheimers at a relatively young age, pretty much at retirement, and died a slow, fairly painful death. Since I was the youngest in my family, and he was diagnosed with Alzheimers when I was in elementary school, I never had a great personal connection with him. In fact, I actually had a stronger relationship with my great grandparents...

OK enough about family history... I believe that to survive today in this world, with the competition that exists for talented people, one must take on the "immigrant mentality". What does it mean in practice? It means saying yes more than saying no at work. It means being aggressive all the time. It means constantly fighting mediocrity in nearly all ways - work, education, arts and culture, physical appearance, etc. It means doing the work now, not later, and becoming a go-to guy for colleagues and friends. It means always being "hungry" to suck the marrow out of life...

As I write this note from Fontainebleau, France, I cannot help but note that France is an excellent example of a market filled with talented westerners who chose not to take this exact path. Their model seems fairly obvious to me at this point - they may be the most creative, liberal-minded people in the universe. You'll never see shoes, clothing styles or cuisine quite as unique and creative as those made or thought up in France.

Why is that? I'd argue the French Revolution, which jumpstarted the secularization and westernization of societies around the globe (including the U.S. or course) gave the French the inspiration to push their limits and further personalize this country's already storied creative past. However, one of the points of the French Revolution that was not taken in the U.S. to the same extent was the pursuit of bettering one's life through a more collective, moralistic view. In the U.S., the model of laissez faire became more and more prevalent, although, to be fair, it was always driven by a deep moral base (albeit more personal or communal than government sanctioned). As a result, there were diverging views of how government should participate in the lives of constituents and the specific role of constituents in society. It seems that in France, the constituent was part of a collective, known for creativity, good food, good wine, good life, and high class. In contrast, the U.S. constituents were individual entrepreneurs known for hard work, willingness to change, energy, and aspiration.

The result is two divergent points of view, and countries in completely different places right now. The U.S. became the most wealthy nation on the planet, while France fell to obscurity in many ways (politically, financially, etc). However, when you look at a microview of the two societies, it is not clear who is actually better off - the American who works 60+ hours a week (more than our parents), highly materialistic, focused on bettering themselves, but struggling from the "rat race", or the French person who works less and less (35 hour work week) than their parents, materialistic, but not necessarily to the same extent as Americans, focused on enjoying the good life, not competing in the "rat race" by and large. I'm frankly not sure...

What complicates this whole situation is the emergence of immigrants who are eager to work in the (now post-)American world. Firstly, it means Americans must compete with people who are using the same mindset as them, for the most part. It also means that the underlying value of an American (education and skills) come into question in relation to those from these emerging countries. Herein lies the complication - do Americans have a true competitive advantage vis a vis the Indians, Chinese, or Israelis for that matter? Are we willing to put up a fight to stay on top, or are we too fat and happy at this point to care? I would argue that the French have taken a form of the latter approach, taking the "higher road" and creating an environment that is sustainable, as long as you dont care to be the best or have the best. They seem content with that solution. The French do not seem obsessed with new technology as much as Americans as the emerging East. The French have stopped innovation in some businesses a few technology generations ago, simply because they do not need to be enhanced - the added speed is not sought by the French people. This allows the company to maintain several local industries that would otherwise have been eliminated due to inefficiency many years ago (think gas station attendants)...

So, where do I stand on this whole issue - I'm a strong advocate of the immigrant mentality, of staying hungry, and seeking to be the best I can. Yeah, it leads to a lot of nail-biting and few moments of sheer bliss (I cannot sit on a beach for more than 10 minutes without needing to do something more useful), but it helps to differentiate me from my friends and colleagues. To some extent, it defines me.

Some of the downsides of being of this mentality includes "being a sucker", when confronted with folks who do not subscribe to this mentality. At work, in school and in life, I find myself often eager to get my hands dirty and push a project from idea to execution. Until recently, I was not convinced this was a unique quality or even something positive/negative. However, it became clear to me this week that I have, and likely always will be comfortable with the idea of doing more than others to achieve. Its how I was brought up, how my parents were, how my sisters are, and the only way I know to behave.

This week, we had an American party at INSEAD, which i agreed to take part in organizing. I took on the role of picking up alcohol, paper goods, food, make the jello shots, and coordinating ice. The others organized music, negotiated the space, set up, cleaned up and sent out e-mails. It was clear to me and others that I took on more than was required of me. One of my colleagues even called me "a sucker" for sweating through the whole ordeal of moving all this crap into the party... I'm not sure how to be different. I'm not sure what that might even look like? I am not convinced I could take on smaller roles and still feel comfortable? I guess i'm a micromanager... To me, it fits with my "immigrant mentailty" model, that rationalizes such an approach as necessary and useful...

Thoughts? Confused? Drop me a line...

Jun 3, 2008

ON SINGAPORE

ON SINGAPORE
Singapore is a fabulous place to live, for those of us who are married with children. The weather is warm and predictable all year round, streets are safe, the taxes are low, the schools are top notch and society is fairly harmonious. Singaporeans seem to work more reasonable hours than their counterparts in Hong Kong, Tokyo, London or New York. That being said, there are artificial elements that make the city-state more difficult for the young, single oriented folk, like myself.

The city-state has developed a culture of fear amongst its constituents, to the point that authority figures cannot necessarily be seen all the time, but people follow the rules. Example - people DO NOT jaywalk, chew gum, eat/drink on the train, etc. These are rules that have been enforced over time and ingrained in the local's minds that they should be followed. The government seems to simply use the local news as a propoganda machine to push its agenda from time to time (including crazy stories of drug dealers and alleged terrorists from neighboring states).

The state has imposed heavy fees for smoking and drinking alcohol of any kind, making even a common beer cost more in Singapore than in Europe and most of North America (beers are in line with fancy New York bar prices, with cocktails and more complex formulations running even higher). While this encourages good behavior amongst the citizens, it takes quite a bit away from traditional night life. The Clarke Quay area, which is the official club/bar district in Singapore, seems more like "Adventure Land" in Disney World than the Village in New York City, or Lan Kwai Fung in Hong Kong. I guess the grit of a dirty, semi-dangerous city takes away from the nightlife experience, at least for me... It will be interesting to see whether the introduction of the Sands Casinos over the next few years changes this dynamic at all - my money is not on that happening.

The result is a mixed bag. Singapore is a rich state with fairly happy citizens, that is a light unto the rest of Asia. However, it has not been able to best the West in all ways, particularly creativity. As a result of the autocratic governmental system and the subsequent education system, students lack the creativity developed in countries like the U.S. and France, where students are given much more lax academic programs, with a focus on the creative side. As a result, Singapore is now building creativity into their academic program, and making it a key initiative in the country. I have no doubt they'll figure out a way to meet this goal to some extent, but it will be difficult to mimic the west on this one...

On to the positives... Singapore works. Everything functions with near-German precision, coupled with a Chinese hospitality that one would be hard pressed to find elsewhere. The trains, cabs, and buses work like clock-work, picking you up on time and delivering you on time. This is the only place in the universe where cab drivers do not expect a tip, and will round down the price to the nearest dollar for you. There is no traffic here, when you compare the city to London, New York, Los Angeles or others. Tips are not expected or required, but the service level would make high-quality American service look poor. People are generally friendly, and are eager to help you get around. English, or rather Singlish, is used everywhere. The sidewalks, parks and roads are nearly spotless, and cleaned so often you couldn't imagine them ever being dirty. Despite heavy construction all over the place, there are minimal delays to cars and pedestrians. Fairly harmonious place...

I loved living in Singapore for the 8 months that I did. I could not handle the weather at all, having been roughly between 78-90 Fahrenheit each day, with high humidity. Regardless of shape or athleticism, people walking more than 5 blocks in this weather, at nearly any point during the day, break a serious sweat. Air conditioning is quite common as a result, as is the use of public and private transportation (cabs). One note on this cab issue - very easy to use, fairly cheap, and highly recommended by the government, due to the high expense of buying a car ownership permit, which lasts for 10 years or the life of the car, whichever is shorter. Thus, Singapore has avoided a lot of the smog that other cities have built up.

The Singapore port is one of the most fascinating sites in the world and one of the crowning achievements of this city-state. Beautiful to see in action, the hi-tech port is the largest handler of shipping tonnage on the planet. It is a bastion to Singaporean efficiency, found elsewhere in such diverse places as the post office, the government offices, and the airport. The post office and government offices have complex queue systems resulting in short, clear wait times that one would wish for nearly everywhere else in the world. The airport is easily the most efficient i have ever been to in my life, with almost no lines at any point, strong security, good shopping and easy access to essentials (internet, etc) while waiting to board the plane. Oh, and when you land, immigration is never more than 8 people away, and usually takes 10 minutes max to get through. Following immigration, bags are usually nearly all off the plane by the time you get to the baggage claim. What a contrast to O'Hare, Laguardia, JFK, CDG, Heathrow, etc. In fact, many larger airports are relying on expertise from Singapore to teach them how to make their operations more efficient.

All in all, it was a great place to hang my hat for 8 months. Definitely visit and see the sites. It's an enigma and should be treasured as such... I might write a bit more on this subject at another point, but for now, i'll go to bed (1:42 am is about the time for me to hit the sack these days)...

Jun 2, 2008

OK... Time for an update

Bonjour! Seeing that I have not written this blog in over 9 months, I realize I owe my audience some new information and insights. What can I say, these past 9 months have been a total whirlwind, as I've had life changing experiences that have altered my worldview going forward. For now, I realize that reliving all the stories of the last few months would be impossible, so i choose to move forward (I wanted to do this earlier, but i always felt guilty about stopping in the first place)...

First things first, a few thoughts on life...

ON INSEAD
This is easily the hardest section for me to write. Let me start off by saying that I came to INSEAD as a very proud card-carrying Cornellian, and expected to find Cornell in Europe/Asia. INSEAD is not that... However, there are quite a few strong reasons that I came here, and they all, for the most part, ring true...

#1 - INSEAD is all about diversity
- How trite... Nearly every school in the galaxy says their program is diverse, but only INSEAD has truly achieved it. There are people from every major nationality on earth here, creating an MTV Real World-type atmosphere (usually, without the fistfights). If you don't believe me, check this one out...

My group for the first two months was six men (somewhat common on the Singapore campus, as the women tended to flock to Fonty for some reason in our promotion) on different nationalities - German, Spanish, Chilean, Japanese, Indian, and American (myself). I lived with seven people over the course of my 10 month MBA, including people from Japan, Canada (2), Iran, Spain, Israel and Belize. I played poker regularly in Singapore with people from Korea, Australia, South Africa, India, US, Canada, France and Germany. There is no place on earth that I have been able to get this kind of exposure to different nationalities in such an open and easy setting. I now can honestly say I have friends from every single continent on earth, which was definitely not the case last year (although, I did have friends from every borough of NYC last year). The value of the experiences I had with colleagues from all over the world cannot be underestimated, and should hold to be incredibly meaningful for years to come.

#2 - The Two Campus Model
The two campus model is also unique (for now), and is a great element of the INSEAD program. The value to all students to get exposure to Asia, Europe, and the US (through Wharton exchange) is invaluable and again, sets this experience apart from competing programs. However, the downside to this model is the logistical complications that become quite numerous. Think about it - how often do you see listings for 2 month rentals in big cities or towns. Even though INSEAD has some dedicated rental agencies in Singapore and France, the situation is not ideal, with students often paying a substantial premium for short-term rentals. Additional issues such as car rental (necessary for Fonty, for the most part) further complicate these logistics a bit. I can honestly tell you that I have personally spent in the avenue of 20-30 hours of my time in INSEAD, through condensed periods of time. figuring out logistics, which is quite a lot.

An additional pro/con to the whole campus exchange is the subsequent travel culture at INSEAD. Students from nearly every background have extensively traveled to the most common destinations across the globe (e.g. New York, Los Angeles, London, Paris, Rome, Berlin, Jerusalem, Dubai, Beijing, Delhi, etc), and are eager to further explore the world around them. This makes the culture quite exciting and great to be a part of. In Singapore, I participated in trips to Malaysia, Indonesia, Vietnam, Cambodia, Hong Kong, China, Japan, Thailand, UAE, and India. My travel schedule was fairly light, relative to my colleagues, so you get a sense of how this all works. Nearly every weekend, you're out of Singapore, b/c there's little to do there that is special on a particular weekend. Add to that the numerous cheap local airlines (TigerAirways.com, AirAsia.com and JetStar.com are the main ones), and you see why people are out and about all the time... As for Fonty, there is even less to do here, and in Paris on any given Sunday, providing ample chance for students to travel via budget airline, rail or car to Brussels, Amsterdam, various parts of Germany, London, Madrid, Morocco, and other parts of Europe.

This is seemingly a pro hands down. The only con is from an academic standpoint, as students from time to time will not attend friday or monday classes, or otherwise participate in a rather minimal way to provide the opportunity for this extensive travel. All in all, I don't know how to feel about it, since Accounting is not nearly as compelling, nor as meaningful as a trip to Siem Riep in Cambodia. If I had to say anything, it would simply be that this program provides incredible learning "outside the classroom" and as such, is for the "explorer-type" as apposed to the "bookworm-type".

#3 - Academics
I have a strong view on all this, probably stemming from my personal work style, moreso than the program itself. In fact, many have disagreed with me, including members of the administration. However, the power of the internet allows me to share my views with folks who want to read them, so here goes...

INSEAD's average student in 29 years old and has more than 5 years of experience in consulting, banking or industry. While a good number seek a switch of some kind (firm, industry, geography, position, etc), most have a good idea of who they are, what their general strengths/weaknesses are, and what they want out of the MBA. Additionally, the program is only 10 months, and the core takes up almost half of the credits required to graduate (24-25 classes, of which, 13 are core). Finally, the classes are focused on giving basics in each area, and aimed at achieving the impossible - keeping "experts" interested and teaching "novices" at the same time. As we all know from other places in life, this rarely works, and at INSEAD, it does not, by and large. As such, I'd argue that the value of the core-curriculum is somewhat diminished, and actually detracts from all students on average.

A model like that used at U of Chicago would probably be more fitting, since it allows students to take courses within specific disciplines, but at their level of both interest and skill (ironically, the reason i did not apply to u of chicago was the fact that I was not convinced this model would create a cohesive group over there, like the sections at INSEAD, HBS, Wharton, Kellogg, etc). At INSEAD, the cohesiveness would likely be met anyway, given the inquisitive nature of the students and the "Real World"-like environment.

In terms of academics, the school has some incredibly talented professors, a few OK profs and some who can stand to improve. I doubt that is much different elsewhere, and students tend to flock to profs that are good, when choosing electives (often more than the course subject matter). I'd say that overall, my academic experience was quite good and challenging, with a focus on entrepreneurship and finance.

In Finance, I found the courses to be fairly strong, but preferred those with heavier workloads, because I have trouble learning finance from lectures alone. The finance profs I enjoyed the most were: Pierre Hillion (Finance II - Corporate Financial Policy, Applied Corp Finance, Hedge Funds, Options), Claudia Zeisberger (Hedge Funds), Jake Cohen (Financial Accounting, Applied Corp Reporting, Business Law), Zhang (International Financial Management/FX), Kim Wahl (Leveraged Buyouts) and Kevin Kaiser (Corp Restructuring and Value Creation).

The entrepreneurship profs I enjoyed the most were: Phil Anderson (Venture Opps and Business Ventures - best class at INSEAD, I thought; Global Trends in Private Equity), Randall Carlock (Entrepreneurial Leadership) and Patrick Turner (Entrepreneurial Field Studies, Realizing Entrepreneurial Potential/Buying a Company).

The other outstanding profs I found were Gabriel Szulanski (Intro to Management, Making of Strategy), Pushan Dutt (Microeconomics), and Doug Guthrie (Leading Organizations).

Last thing i'll say here - the classroom environment is quite distinctive from a traditional US business school. Although we use many cases, class discussions are usually formed around the prof, with commentary coming in between student comments often. Unlike HBS, the prof is quite active here, and many choose to lecture outright. On the student side, participants are a bit more lax and collaborative. There is not as big a stress on grades and high academic excellence for its own sake, rather a focus on gaining value from each class in any which way it comes. This could mean jumping off the topic at hand to discuss something on the students minds at times. Its not bad, just a tad different.

#4 - Career Services
This is a work in progress in Asia, as the school begins to benefit from its excellent placement in the earth's new hot growth market. However, we're not quite there yet. The staff works extremely hard, but is still somewhat dependent on a good economic environment to ensure placement at choice firms. Honestly, i'm fairly certain every school has this problem, but some are slightly further along with some key employers in finance and in particular regions. INSEAD acknowledges and is filling this gap, so I can't be too hard on them, although the end result can be frustrating as they work to make it better.

In Europe, INSEAD is a force to be reckoned with, and the school seems to have made strong inroads with all the key employers. There is still work to be done, and obviously, as the hot markets shifts from Europe/US to Middle East/Asia things will need to change accordingly here. I think the staff knows that quite well and is working to make it better.

One note - for students interested in working in Asia, specifically Hong Kong, Shanghai or Tokyo, it is critical that you pick up the language skills and ideally spend significant time, if not all your time in Singapore. This is not an easy market to break into, especially in a tough economic period, since locals are more than happy to work in these companies and stay in these countries now, as apposed to several years ago...

OK... I am done on INSEAD. I've loved the experiences i've had here, but do wish some of the rough edges were a tad more sharpened when i entered...

Hope to post again later this evening or tomorrow on a few more topics - Singapore, Israel, Life & Women... keep in touch...