YouSaid · the spoken record

Henry Goldman

lines on the record: 30
first: 2022-06-22
most recent: 2022-06-22
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“And then the book ends with the granddaughter looking at a photo album of all the people that passed away from both sides of the family. And she says, looking at images in the old photo albums, it's hard to believe that all these people are gone now, along with their smiles and songs, will, and wisdom, and fears and hopes. I wanted to end there because I think that paragraph serves as a reminder that that is coming for all of us. We have an obligation to live an incredible life for ourselves and the people that love us.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“That part is devastating because at that point in your life, there's nothing you can do to fix that regret. I don't want to go to my grave with that regret. Henry's death came without much fanfare in much the same low-key style he had maintained throughout his incredible life. He and his beloved wife were marveling about their ability to read each other's minds like old members of a symphony orchestra who had rehearsed together for years. Suddenly, his head dropped to his chest and the conversation stopped. A fabled life had ended for the Renaissance man whose ethics and morals never ran second to ambition and drive.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Goldman Sachs' good name and the reputation and the public's faith in its integrity. And then because he knows he's dying, he talks about with his wife what his biggest regret is. Henry shared that his greatest regret was that he had never developed a greater rapport with his children. He thought that he had an inability to express approval, to overlook their minor slip-ups, and to embrace them and say, I love you.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“And so Henry lives for another 20 years. I would say he never retired. He's still investing his own money, still working with a ton of people, still traveling the world, having these unique experiences. But towards the end of his life, he knew he was dying because he's slowly dying of heart failure. And so there's a couple ideas from this point of his life that I think you and I can learn from. As Henry viewed his imminent mortality, his thoughts could not help reverting to the Goldman Sachs he had known and helped build to greatness years before. It was starting to make a comeback, but it would be a long haul. The Great Depression had swept away much of its capital reserves that the firm lost in the catching trusts. That story is told in Malcolm Gladwell essay that I have linked in the show notes. But he held no sympathy for them. And this part is really important. I double underlined it and it really gives you an insight into who Henry Goldman was. They had relied on the decisions of others, which he himself would never have done. His only concern was the restoration of”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“He had the most realistic assessment of the consequences the firm would suffer and felt the greatest sense of personal loss. In his memoirs he recalled that Henry was an extraordinary personality, the original genius in Goldman Sachs who made the first great imaginative contribution to the growth of the firm. Henry and Samuel Saxe never spoke again, neither did Henry and his sister Louisa, Saxe's wife, the generations that follow never even made one another's acquaintance until almost a hundred years had passed.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Me. That has got to be devastating. If you've ever read, there's been a number of examples on the podcast where people are either forced out or they lose control of their business or they sell their business and they regret selling it. And it's just devastating. It's heartbreaking to them. And so this idea where it's just like, you've dedicated 35 years a ton of your life energy and you don't even have control over whether or not you get to keep doing that. That's just a cautionary tale to me. And so Sam Sacks Henry's partner his nephew, Walter, was actually close with Henry and he didn't want to see him go. He says, my God, Walter said to himself, what have we gotten ourselves into? And this is why he was asking that question. What have we gotten ourselves into? As the Sachs who had always been closest to Henry, the partner who realized the great debt that Goldman Sachs' success owed to Henry's dynamic personality and creative genius, the colleague Henry Mentored and repeatedly reminded that money is always in fashion.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“With their longtime friends until after the war. And this is what forces them out. The last straw came with the Kleinworts called or cabled to express alarm at newspaper articles in London that put Henry's sentiments on public record. They warned that Goldman Sachs was in danger of being blacklisted in the city. Henry realized at last that he was placing the firm's future in jeopardy. And this is what he said, since many months I've been revolving in my mind to withdraw from active business life. I am not in sympathy with many trends which are now shaping public opinion. The world's war has deeply affected my viewpoint of life. My partners have been good enough to make my withdrawal from the firm possible. I retire with the best of feelings towards the firm and all of its members. That's a lie, with which I have been associated for 35 years, and to which I have given all that is in the firm.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Cabling to say that if the ill filling is generated by Henry's remarks was so great that they had become persona non grata in England, meaning Goldman Sachs had become persona non grata in England. The Bank of England then forbade the Kleinworts from participating in underwriting this company called the Jewel T Company, and they did this. This is the first time that ever happened because they were forbade to do this because of Henry's support for Germany, and this was the first time that the Klein Warts were not involved in a Goldman-Lehman new issue. Doesn't stop there. Kleinwerts were then called before the Ministry of Blockade, where they were shown a large numbers, a large number of intercepted cables showing that Goldman had been involved in an active exchange of business with Germany. The Kleinworth professed to be frankly astonished and withdrew from any further exchange business with”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Dilemma now presented itself as the firm had two ironclad bylaws that had been mandated by Marcus Goldman from the outset. The first was to support its new issues with the partner's own money. The other was that Goldman Sachs could only make an investment if all the partners were in agreements. Henry's partners and his sisters and his sisters are married to the Saxes, and so when they have the breakup, he never speaks to his sisters again either. His partners and his sisters were embarrassed by his views and urged him to cool down his rhetoric. Henry stuck to his guns and continued to speak out publicly about Germany's virtues. Sam, his partner, would tell anyone who listened that Henry's statements were pearly personal and by no means representative of the beliefs and loyalties of the firm, but the damage was done. Headlines castigated the firm. Repercussions were swift, with the firm's London partners, the Kleinworts, called”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“During the war's already popping off, it's a very interesting decision you have here, Henry. There had been repeated reports of German U-boats torpedoing unarmed ships, but Henry was skeptical because he just had this love of Germany. But Henry was skeptical and insisted he would sail on the elegant ship to Lusitania. At the last minute, she persuaded his wife persuaded him to delay the trip. She had heard of a wonderful camp and house and acres that was for sale in the Adirondack Mountains, where they could share vacations with their children. Would you please go with me and at least look this over? He agreed, and so he wound up not booking Passage and not dying. And so then we get into the part that surprised me the most. I did not know that he was forced out. And so think about like Goldman and then Sachs are on opposite sides of who they support for World War I. And this is going to wind up leading to Henry having to resign. Henry turned the idea down flat, repeating that he intended to support Germany, not Britain and France.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“of children's shoes in the world and marked another success for Goldman Sachs' list of publicly owned retail giants. So Henry had a deep love of Germany. This is going to cause his breakup with his partners during World War I because obviously America and Britain are on the opposite side of the war and Henry didn't want to get really involved. He loved traveling and spending time in Europe. He was kind of like a vagabond or a nomad. Couldn't stay in one place at one time, one place for very long. Even after he retired, he lives for like another 20 years. He's just constantly gallivanting around the world, even as he's losing his sight. But what was interesting, he had a really close call with death. And he was supposed to book passage on the Lusitania, which we know gets torpedoed. So it says, his wife was fearful for Henry's safety when he declared he would conduct business as usual and pay his annual visit to Europe in the spring of 1915.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Hand, he realized hey, people in San Francisco that live in city of San Francisco, they're not like unique. They're just humans. Building up, like finding unique ways to sell and market your product Clever manufacturers recognize that product development and marketing were becoming almost indistinguishable. This is a shoe company. They sell shoes. And look at this. They basically combine entertainment with commerce. The brown shoe corporation pioneered the use of entertainment as a marketing tool and turned itself into a national brand mixing show biz into their sales pitch. They're selling shoes for God's sake. They employed a troop of actors who were, there's like this popular cartoon strip of the day. So there was actors that were playing roles in there and sent them around the country to perform in Vaudeville houses and on busy street corners, singing and dancing and telling jokes and playing tricks and selling shoes. By 1913, the company's advertising savvy had turned it into the largest manufacturer.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“So that's his personal motto. He repeats it over and over again. It's the name of the book. Money is always in fashion. And so a few chapters later, they make the point, like this opportunity that Goldman and Lehman wind up seizing. It was an opportunity hiding and played plain sight. It was a segment of the market that was ignored by the established financial houses because they didn't think it was prestigious enough. So really, this is just a standard, not a standard, like a very important idea from the history of entrepreneurship is like you can find opportunities lurking where your competitors are just not paying attention. And the greatest way, like the greatest story, the most succinct story I know to relate that idea is what William Randolph Hearst did to build his massive media empire, which started with just one newspaper in San Francisco, him and the four or five other newspapers are all doing distributions, selling their newspapers the same way. They hire little boys called Newsies to go on the street and sell copies of newspaper.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“To electric powered vehicles and then just two years later, they introduced gasoline-powered cars. And then we get to something that one of Henry's mentors, our mentees, said, he's on good relationships with some of the Saxes. So this guy, Walter Sachs, is going to wind up taking over the company's wealth and working with Sidney Weinberg as well. But he's hearing this conversation that's taking place between Walter and somebody else who says he's trying to sell stock to this guy named Mr. Strawberry. So Mr. Strawberry is one of the people I offered the stock to and he turned it down. Walter related. Some months or a year later the stock had doubled in value. Fresh kid that I was, I said to Mr. Stallsbury, you should have bought that stock for me. You'd have doubled your money. Stallsbury responded, My dear young man, I can't make money in everything. Henry chuckled when he heard this. But we can always try, he said. Just keep in mind, money is always in fashion.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Fascinating. I've obviously heard the name, but I didn't know the background, I didn't know it was run by a bunch of brothers, and he's going to wind up sitting on their board for quite a while. So this is really just an overview of the Studebaker brothers and their business. Goldman Sachs issued Stock and Studebaker, which is the first automobile manufacturer to go public. The company was founded by four brothers who had migrated to California in the 1850s to make wheelbarrows for miners during the Gold Rush. When they returned to the Midwest six years later, they invested their earnings in the manufacturing of wagons, which were widely used in settling the American West. So they have this thesis that in a gold rush you should sell pickaxes, right? They were extremely successful and became one of the largest wagon manufacturers in the world, supplying the United States Army throughout the Civil War. They eventually switched to horse drawing.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Again, at the time it was new. It's like, let me, the main point here is you can analyze existing markets and realize, hey, there's always opportunity by doing things slightly different. And Wolver set an example of that. So he says, listen, I'll buy the goods directly from the manufacturers. I'll sell them to the public at fixed discounted prices. I'll undercut the offerings of my competition. He displayed everything so that customers could make a selection for themselves, eliminating the need for a clerk to fetch and carry stock from behind the counter. His operation was cost and time effective. He proceeded to open a large chain of stores across the country. In 1912, when Woolworths became a publicly traded company, the synonym for five and ten, I've heard of this as called five and dimes. I think that's what Sam Walton described his concept as. But it says Woolworths became a synonym for five and tens, and they were recognized as one of the hottest commercial phenomenon of the 20th century. Another company that Henry's going to help take public is Studebaker.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think we're a couple years after the panic, so I think we're right around 1911, 1912. Soon, the names of famous department stores owned and operated by this family that Henry's helping were strung out like Christmas lights across the country. And a lot of these companies, they were founded many decades before, and they don't wind up doing this public issuing till later on, and they use it mainly for expansion. Woolworths is an example of this, which was fascinating. The story I'm about to tell you, listen to how humble the origins were. And 100 years later, this winds up becoming the largest department store in the world. So it's this guy named Woolworth, didn't give up on his idea. And in 1879, he opened a second store in which all the merchandise was priced at 10 cents. His concept was to purchase goods directly from the manufacturers and sell them to the public at fixed discounted prices, undercutting the offerings of local merchants. So that was his competitors of the day. And again, this is a basic idea that we've seen over and over again.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“It dries up. And so it says money had simply dried up. The panic quickly spread from one bank to another. Knickerbach's funds were completely wiped out in 48 hours. Barney shot himself. And the reason I bring that up is because that happened then. It'll happen today. And unfortunately, it'll happen in the future. And if you've been paying attention to this podcast and you obviously know the greatest entrepreneurs that have ever lived optimize for survival. So Henry Spot's another opportunity. At this point in history, department stores are rather a new concept. And he's going to take a bunch of these public. Henry immediately saw the huge potential of gathering a number of retailers under one name pooling their purchasing power and implementing a cooperative marketing push across the country. He recognized it as a landmark approach to modern marketing that would benefit the consumer as well as the investor and agreed to float an issue. So this is the world that we live in, but it was relatively new at this point.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“To obtain banknotes and the supply of government bonds at Nick and Bacher was insufficient to cover a depositor's run on the bank. Panic occurred when the public found out about the situation, a panic that threatened not only Wall Street, but also the entire financial fabric of the city and the nation itself. Money had simply dried up. When I got to that line, it made me think of what back on episode 243, Francis Greenberger winds up as like a high school dropout, winds up becoming a billionaire real estate developer and investor in New York. And that book, this is autobiography. It's like 40 or 50 years of real estate investing in the city of New York. And he goes through multiple booms and busts and he just, he perfectly summarizes why he keeps this huge fortress of cash. And he says, markets can turn on a dime. You might think, oh, it's going to drop by a couple percentage points over maybe a few months. No, he's like literally overnight.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Money lay. And so one of this main thing that pops off for the financial panic of 1907 is this Nickenbacher trust company. So the Nickenbacher Trust Company And among the most trusted fiduciaries in the city, you already know where the story is going. If they started like that. While its primary business was to act as a trustee for wealthy individuals, corporations, and estates, it also issued interest-bearing certificates of deposit and offered checking facilities. I wonder what they're going to do with that money. The press reported that its capital was intact and secure. Oh my God, the press being wrong about something? That must have happened for the first time in history. But there was a dirty little secret in the back rooms of Nickenbacher. Heinz, these are the founders and the controllers, Heinz and his brother Otto, and the bank president Barney. Remember Barney because he's about to pop his own top. Hines, his brother Otto, and the bank president Barney had been speculating with the depositors' funds. Oh my goodness, in an attempt to corner the market in United Copper shares. And their manipulation had fallen on its face. Government bonds at the time had to be deposited with the Treasury in order to”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“And then, as you can imagine, a book that covers the economic history of America in the late 1800s, early 1900s, there's a ton of these financial panics. I want to give you a quick overview of a financial panic that ends in suicide. And the reason I think this is important is because this still goes on to this day. I've heard of people in this latest crash killing themselves. And it's just completely unnecessary. For some reason, humanity has this flaw where we just refuse to learn from the past. So this is a brief overview. This goes on for several pages. I'm just going to pull out some what I feel are the most important parts. In 1907, a panic occurred. In the previous 10 years, there had been a dramatic increase in the number of small investors in the market. Remember, this book is written in 2010. It sounds like it could be written in present day. So 1907, a panic occurred. In the previous 10 years, there had been a dramatic increase in the number of small investors in the market and a shift in interest from bonds to stocks. Everyone wanted to get in on the action of Wall Street where the easy”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Volatile and outspoken, he was incensed and minced no words about it. He insisted to Sam that Goldman Sachs should continue to pursue new railroad underwriting projects, especially west of the Mississippi, where some of these other financial houses were not doing as much business. Sam, as usual, disagreed, arguing that he did not wish to antagonize the major players of the day. So Sam says no. This leads Henry looking for other opportunities. The very next day, Henry met his best friend, Philip Lehman. You will recognize all these last names. For lunch in the back room upstairs at Delmonico's. And so it says a Lehman family had also found a very successful bank. The Lehman name was synonymous with money, so Phil, like Henry, is going to be the son of the founder. Like Henry, Phil was an assertive, competitive personality, driven to achieve success in whatever he undertook. He had led Lehman Brothers into financing and developing the American Potash.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Rate than the Goldman's in the business, they're going to wind up having all the power, a new bone of contention arose between the brothers in law when Sam hired his brother Harry and then his son Paul and elevated them to positions equal to Henry's. Henry viewed the imbalance of power and money between the two branches of the family as thoroughly unjust, and then all hell breaks loose because his dad's going to die after Marcus passed away. All pretenses of brotherly love evaporated and the partners no longer tried to conceal their innermost feelings. And I found this part very interesting because it's Henry telling Henry no that actually leads to Henry developing a specialty in IPOs. And so it says Henry expressed to his partners the conviction that underwriting railroad bonds was the road to the bank and he was determined to follow it. The boom in railroad construction after the Civil War had transformed the country from an agrarian society to an”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“In life. So there is no happy ending. It's not like, oh, we had a big fight, and then we reconciled. No, they hated each other till death. So it says Henry bided his time still playing a watchful waiting game. It wasn't until his father stepped aside two years later that he was finally elevated to the same level of authority as Samuel. When it did happen, he had just celebrated his 43rd birthday. So it's about 10 years as a junior partner. And after years of being made aware that he was expected to fail, he was determined to achieve a role of leadership and dominance.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Who is also doing business together would soon be enmeshed in a feud drenched in such animosity that the members and their children would not exchange a word for almost a hundred years. And so once Henry is forced out of the partnership, it seems to me like it reads, if you read through between the lines, they don't say this, but it seems like he was forced to resign, and I'll get into why that was the case. But he never talked to his partner again. Henry was like a hard dude. He kept a grudge. And so let me read this section. This comes at the very end. I think on the last page of the book, and it talks about where the fact that the families previously had built final resting places in a cemetery. And so the Goldmans did this and the Sachs did this. And Henry picked a spot where his back was turned to the Saxe. So it says in his final resting place, Henry had built for himself and his heirs. It was larger and grander, and its back is turned on the Saxes and death as”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“A traveling salesman for many years. I think he starts out in his mid 20s, and then he winds up working in the firm. He finally gets invited into the firm, but as a junior partner, so he's underneath his brother-in-law, right? So says in 1885, Henry was finally invited into family, but only as a junior partner. The firm's name was then changed to Goldman Sachs& Company, and from then on, oh, so I want to bring this up to you because the unique structure and the way that the firm was organized. So it says, and then from then on, for almost 50 years, all of Goldman Sachs partners were members of the intermarried families. Their assets are a major portion of their assets were tied up in the firm and provided working capital as well as savings. The practice continued until Goldman went public over a hundred years later, making it an extraordinarily profit-oriented organization. The partners were never allowed to”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Henry Goldman his opinion of that he would agree with it. And then spread all throughout the book over hundreds of pages. There's just these like one lines that give you an insight into Henry Goldman's personality. This is the first one. I'm just going to go ahead and read a bunch of random lines to you. This is the first one though. He was somewhat of a loner, comfortable with his own company. Here's another one. He had important matters on his mind and he was not one to waste time on small talk. He was extremely averse to publicity. And then I like this one because it was Henry's advice to his sons when he was about to die. Ultimately, we have to set our own criteria for what constitutes failure and what constitutes success. It's not the same for everyone.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“Able to see beyond his reflection in the dark window and to gain a bird's eye view of the mom and pop retailers, the little machine shops, the small town banks that were popping up all across the country. And so it says as the railroads were carrying him from New York to Philadelphia to Boston to Chicago and St. Louis, he was able to overhear the ramblings and rumblings of his fellow passengers, most of whom were also in trade, and to learn what people outside of New York were thinking and talking about. This experience turned him into a consummate observer that made me think of, I think it was episode 212. I read like a 600 or 700 page biography of Michael Jordan. I find myself thinking a lot about that book, actually, but there's something that Michael said in that book, which was fantastic. And he says that successful people listen and those who don't listen don't survive long. And I think if we could go back and ask.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“From then on, the firm was known as Goldman Sachs. Henry was still shocked that he had been passed over. He was dumbfounded. By then he was in his mid twenties. And so Henry could have said, oh, woe was me, could have just given up. He's like, okay, that's fine. He sets out trying to build his own career. And so he becomes a traveling salesman. And this is the reason this was really smart is because he winds up learning sales, learning people, and then learning the value of listening and the advantage he gives him over so many other people. He became a traveling salesman of textiles. It must have been a lonely life. Traveling cross-country in the 1870s, but it afforded Henry the time he needed for introspection and observation. And as it turned out, the experience provided an education. So he's traveling all over the country on this relatively new technology of the day, which is the railroads, right? And so that gets them out of New York and he gets to see how other people are conducting business.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source
“This, I had no idea that the Goldman and Sachs, the two families, wind up not speaking for 100 years. There's just crazy stories in the book about that. I've always believed that Henry, so now this is obviously the author who is the granddaughter of Henry talking about her grandfather. I've always believed that Henry was seen by his father as unable to manage such a role because of his physical ailment. While Marcus's decision was based on what he thought was common sense and not emotion, it was a crushing blow to Henry. How could it not be? Imagine stop here for a second just put yourself in the shoes of Henry. Like your father starts his firm, it's about to be called and turned into Goldman Sachs. It's doing really well, really successful. You have a good relationship with them. You want to follow in his footsteps. You're interested in finance and he chooses your brother-in-law. A year and a half passed and Marcus was so pleased with Sam's performance that he asked him to become his partner.”
2022-06-22 · Founders · #253 Henry Goldman (Goldman Sachs) · IDENTIFIED FROM THE TRANSCRIPT · source