I disagree with this article, to some extent at least. Perhaps it's specific for trendy companies and startups. Most of which are just looking for the next shiny object, true. However, when you look at companies that move the needle in different industries, companies that have repute, market share and profitability, they couldn't care less what is trending these days. They look for domain expertise and excellence. I…
It’s funny you use Renaissance as an example. They won’t give me the time of day because they “don’t hire people from finance”. Which is just as much of a bullshit reason as the ones from the start of the article.
RenTech is a weird firm. The following is a fictional account.
Out of school (I was a finance/engineering double major), I interviewed at RenTech. They told me this was my last chance, that if I worked a day on Wall Street they wouldn't want me because they didn't want that culture (I think it's more about ensuring you have no industry connections outside the firm). They're geographically isolated, encourage employees taking mortgages to buy local homes and frown on industry interactions outside the firm. If you try to leave, they will enforce their non-competes (which are legal in New York) and sue your new employer [1].
I was wary of that need for control then. Today, I think it's morally wrong. Few people can predict what will matter to them ten years down the line. If I worked at RenTech today, I'd be depressed knowing (a) my work went to enrich the likes of Robert Mercer [2], and (b) there is no exit.
[1] http://www.reuters.com/article/renaissance-millennium/update...
[2] https://en.wikipedia.org/wiki/Robert_Mercer_%28businessman%2...