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Things People Did, with Sindhu Vee: What do consultants ACTUALLY do?

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November 22, 2024

TLDR: Comedian Sindhu Vee appears on Things People Did to explain bonds and other financial concepts to host Joe, who remains bewildered. Discussions also touch on consultants' roles, Joe's investment losses in oil, and the questions remain unanswered.

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In this episode of Things People Did, comedian and former investment banker Sindhu Vee joins Joe Marler to explore the often-misunderstood world of consulting and investment banking. Sindhu provides a humorous yet insightful look into her experience in these fields, tackling questions like "What is the point of consultants?" and "What do investment bankers actually do?"

Sindhu's Journey from PhD to Investment Banking

  • Background in Political Philosophy: Sindhu began her career pursuing a PhD in the United States but found herself bored and unfulfilled.
  • Career Decision: To avoid returning to India and to satisfy visa requirements, she turned to consulting firms and investment banks, ultimately landing a job as an investment banker despite not fully understanding the industry.
  • Finding a Job: Sindhu humorously recalls applying to 18 consulting firms and receiving 19 rejection letters, eventually leading her to investment banking, where she unexpectedly thrived.

Investment Banking Explained with Humor

Sindhu breaks down complex financial concepts in a way that’s accessible and engaging:

  • What Are Bonds?
    • Bonds as a concept involve borrowing money by selling your debt, which, at its simplest, means giving the lender a promise to pay back with interest.
    • Sindhu emphasizes that she sold only government bonds, which are regarded as safe, and explains that many governments borrow money frequently.
  • The Fast-Paced Trading Environment:
    • With vivid anecdotes, Sindhu describes the high-pressure environment of an investment bank where communicating with clients and trading occurs in real-time, leaving little room for breaks.
    • "There’s no lunch break!" she laments, describing how junior staff often eat at their desks while managing multiple client calls at once.

The Comedy of Errors

Sindhu shares a hilarious yet tense story about a significant loss she experienced while trading Japanese yen, highlighting:

  • Stakes and Nerves: The pressure of making correct trades to avoid financial disaster, illustrating how small mistakes can lead to significant losses even in large organizations.
  • Client Trust: Emphasizing that maintaining client trust is essential, which can be strained when mistakes happen.

Practical Insights into Consulting

Sindhu humorously critiques the field of consulting:

  • What Do Consultants Do?
    • In her perspective, consultants create complicated pie charts and offer insights that people often already understand. The episode questions the tangible value of consulting work, sparking further discussion.
  • The Unpredictable Nature of Consulting:
    • Consulting firms often want generic solutions to specific problems, making it hard to pinpoint their actual contributions.

Personal Anecdotes Shared

Sindhu shares personal stories from her life:

  • Life in India and Job Aspirations: Reflecting on her mother's disapproval of a job at a bookstore purely because it could lead to trouble with boys.
  • Settling into a life of comedy: After leaving banking, she found her passion in stand-up comedy, which she describes as her true home, contrasting it with acting where she often feels like a foreigner.

Conclusion

Sindhu Vee's light-hearted examination of consulting and investment banking illustrates that, while they may seem distant from the average citizen, the common themes of pressure, trust, and humor resonate across these sectors. This podcast episode not only entertains but also enlightens listeners about the realities of these high-stakes professions.

Key Takeaways:

  • Investment banking is not just about numbers; it's a lot about trust and client relations.
  • Consulting offers insights but often in a way that feels abstract and detached.
  • Humor can make complex topics like finance approachable for everyone.

Join Joe and Sindhu for an exploration of the quirks of corporate life, where laughter often reigns supreme over the pressures of the boardroom.

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