YouSaid · the spoken record

Marcus Shaw

lines on the record: 84
first: 2022-11-18
most recent: 2022-11-18
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

“So, when I went to Moorehouse, I was excited. I went down there with a few friends. It was a great mix to be able to go to a school. I said, well, and then go to an HBCU as esteemed as Moorehouse was really a great opportunity for me to have a bunch of different experiences. My story around playing football is probably my great interview story. was playing cards with a bunch of guys. Right at the beginning of the school year and made a bet that I could kick a 50 yard field goal. So we go out on the field, we jump the fence, I line up, take about 20 steps back, kick a field goal from 50 yards. One of the coaches comes out and yells at us to get off the field. We're trespassing. As we're leaving, he tells me to come out to the Walklone tryouts at the end of the week.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, Marcus Shaw's one. But no, I had great, great folks in my class. Bear Tombay Thurston, who you may have heard of, author and producer that spent time with the Daily Show, John Bernthal, who's a great actor, Tommy Kale, who was the director of Hamilton and some other big plays. But everybody in our class was phenomenal. Also, folks like Chelsea Clinton. And later the Obama girls went to Sidwell. So some rarefied air indeed, but a great group of students and a great group of friends.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“My mother was a 50 year school teacher? And taught public school in D.C. for 50 years And really was an inspiration for the way I think about learning and understanding the value of education.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“We talk about skipping generations. You went into the Navy in 1945 and spent 27 years in the Navy. He retired and went to work at the Library of Congress and personnel, was able to get his undergrad master's PhD all through the GI bill while he was in the Navy. But I always say my father's a real hero of mine because he truly did skip three generations in one lifetime.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“So, my dad had two careers in his life. He grew up in Mississippi. He's picking cotton, believe it or not, when he was seven years old. He was born in 1929. Seven. Seven years old.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“But I did hang out on military basis a lot. So all my friends would change every three years when they PCS, right? So I had kind of the opposite side of the travel, which is being the friend that was always left behind.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so my dad's actually from Mississippi. My mom was from North Carolina. My dad was a naval officer who retired shortly before I was born. So I spent most of my time growing up in Maryland right outside of DC.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“and they could work remote. And so I think there's been a benefit to those cities in that you're getting people that are moving. You know, Nashville had a ton of people that were moving to Nashville, primarily from California. And that really strengthened the work or the labor force in Nashville. What you do see on the other side of the coin, though, is that for companies that are there locally, it can be a detriment because you have people that are there in the city and may take jobs outside of the region instead of taking jobs there in the region. And so there's a delicate balance, right, to the impact, particularly for small to mid-sized markets where you have a labor force that's needed in the market, that's finding opportunities outside of the market, even if they continue to live.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“So we've seen that in talking with leaders in a number of cities throughout the South and even throughout other areas in the middle of the country that have not traditionally had the type of talent there or the draw to those cities. You definitely saw a surge of people, I would say, during the COVID period that were moving to cities where there was a lower cost of living, but a strong quality of living.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“So, FedEx is out in Memphis, Tennessee. So, on the other side of the state, but those trucks, again, will all come through Chattanooga. And so when you think about the south and you think about industries that are moving, it continues to be manufacturing and logistics, also healthcare is really popping up. Nashville and Atlanta are two very large healthcare hubs. Some of that is due, unfortunately, to demand, right? Where you have health outcomes that are probably a little more severe in some of the southeastern states in the United States. And so you”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Was probably one of the biggest hubs for transportation logistics in the country. Anything that's coming through the southeast via truck is coming through either 81 or 75 or 24, all of that comes through Chattanooga. And so that was something that we saw. You've got companies like US Express and Covenant that operate in Chattanooga.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“A lot of car companies. There's a lot of pro-business environment for companies with big labor forces in the southeast. You're able to operate at a more efficient standard of living in terms of cost. And so you see a lot of car manufacturers operating down there. Also, transportation and logistics. Chattanooga.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“So I think there are a couple of things. Number one, manufacturing has been strong in the southeast for a number of years.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“So, as I was leaving Colab in Tennessee, I saw what was going on in Montgomery and I saw that Montgomery had great leadership. The mayor down there, Stephen Reed has done a fantastic job in Montgomery. I also saw that they had some really unique assets. They've got a fantastic Air Force installation down there. They've got the state capital there in Montgomery. They've got a really diverse population. And so what I really did was take the thesis that we were working with in Chattanooga and adjust it so that it applied to Montgomery. And so in a couple of years down there, we've been able to bring some really incredible companies to Montgomery to see the type of value that they have there. But we've also, and this most recent cohort and the team down there has done an incredible job, helped grow companies that are there in Montgomery focusing on tech solutions and tech services to help them expand and recognize assets.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“That's correct And Craig Fuller, who's the founder and CEO down there is a good friend, but also a really strong business person who's done some great work. We brought Steve Case and Rise of the Rest to Chattanooga. And Freightways was actually the investment that they made in Chattanooga and has done great work. The company's grown. They've employed hundreds of people at meaningful salaries. And that's what it takes to move the needle in a place like Chattanooga. And there are hundreds of cities like that around the country”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we moved the needle tremendously. You know, there were some companies that were there when I took the seat, companies like Bellhop that's a tremendous company and kind of operates in the Uber of Moving, right? So you a fantastic moving company and a fantastic culture. There was a company Freight Waves that has done fantastic work. People kind of equate it to the Bloomberg of trucking. And so they've got a freightway freight.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Are very familiar brands that we know about but did not know that they were from Chattanooga. And so what I saw in Chattanooga was a rich history around entrepreneurship that necessarily hadn't found its way into the modern day, right? We didn't see a lot of great companies coming out of Chattanooga in the late 90s during the tech bubble and so forth.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“For a long while. So, yes, there were a number of bottling companies that would bottle Coca-Cola product and distribute it throughout the country or throughout the region. And the one in Chattanooga, Coca-Cola bottling, was one of the larger ones in the mid-century. Again, it was sold back to Coca-Cola as they consolidated those businesses and left a pretty strong economic footprint in Chattanooga. Chattanooga is also the home of Moon Pie and Little Debbie, right? And a number of consumer products that”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“So Chattanooga is known for a couple of things, right? Key brand, number one, Coca-Cola bottling is the company that really helped jumpstart the city. And so Jack Lupton was kind of the patriarch of that company and sold that company back to Coca-Cola in the mid-90s.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“It was a private public partnership. It was set up as a nonprofit that had funding some funding coming from the state, some funding coming from foundations, and then some funding coming from corporate entities that also found economic development in the region very important.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Incredible to really focus on local opportunities for entrepreneurs, for investors, for economic development, and really see how the fabric of a city with about a couple hundred thousand people can develop when you have people that are really dedicated to fostering that growth.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“My wife and I decided to move to Tennessee back in 2016. She joined a practice down there and we had family in Tennessee and it was really a unique opportunity to move around. We've moved around a bunch and have enjoyed all the different places that we lived in the country. Chattanooga is a fascinating city, really steeped in some rich history, but also a city that faces some challenges as they grow from a very small city to a more significant city in the U.S. economy. When I moved down there, I was still working with MLT and then an opportunity came up to take a pretty significant role within the community as a CEO of the company lab. The company lab was the entrepreneurship and economic development center for Chattanooga in the surrounding areas, which include North Georgia, North Alabama, and Southeast Tennessee.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it can be difficult and not because of anything that's attributable to the student themselves. I think it can be difficult because no matter where you're coming from, you need to know somebody to get into this business. And so the first key is how can you create networks that allow HBCU students to have mentors, to have advocates that are in the industry that learn and know them well, know their strengths, know their weaknesses, know their ambition and their aspirations, and can speak to that and help guide them to certain careers inside of alternatives where they can be successful.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think by and large, I mean, I would say that those qualities, you know, we recognize them through qualifications, right? So I look for people who have strong GPAs and people that are taking some rigorous coursework. Even if that coursework's not in finance, I look for people that have done extracurricular work or manage their own little portfolio or have stock ideas or business ideas that they want to bitch. And then I look for people who also have references that say, you know what, this young man, this young woman's been really coachable. In the time that I've had them in school”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“It's an apprentice model business. You know, there's nobody that comes into this business and comes in right out of college as a partner. Even if they've got all the resources in the world, nobody's going to come in as a partner. By and large, most people start this business as an analyst and they work with associates. And those associates work with VPs and principals and managing directors and so forth. So you need people that are going to be willing to work through the apprenticeship model, that are willing to come in, well compensated, a great network of people that they're going to be around, but they're still going to have to listen and be coached up in order to benefit the team and the company. And so we look for those things. People that have an interest in investing, people that have intellectual horsepower, and people that are coachable.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“So there's a framework that I used. I used it with entrepreneurs. I use it with talent anywhere I see it. First, you identify really good talent. Kids that have an interest in investing, although they may not know the nuance of what investing asset class that they're most interested in or they're young, they may not have the experience of understanding multi-cycles in the market, but they're interested in investing. They have academic strength, right? Some real intellectual rigor and horsepower. And so you look at kids that perform well no matter what they do. The kid could be a philosophy major. They could be a finance major, but are they doing well in the pursuit that they're following? And then we look for students that are coachable, right? Coachable is key.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“And so the main thing that you have to do is say, we want to take down any competitive barriers in which we operate during our standard business. And we recognize that what we're trying to solve for is bigger than our individual company. It's really about the industry. And if you can get to that point, which they did very quickly, I mind you, then you can instantly start to put together something as powerful as all finance And that happened. And it happened fairly quickly, but I think it took a lot of time and a lot of vulnerability and a lot of transparency. And I think that's really symbolic of what Alt Finance represents.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. So I think there are two factors. Number one, and I think they both reflect strong leadership at the firms. Number one, you had somewhat of a groundswell from within the from certainly at leadership that said, we need to figure out a way to do something. And I think as great leaders do, I think Howard and Tony and Mark were receptive to that. And also it was perfect timing because they were thinking, how can we drive impact? How can we impact and effect change in our own way? And so it starts off with senior leaders at the firm and these heads of industry working together to figure out what can we do. Then you bring the relationships together. So Howard and Mark and Tony have known each other, but also many of their senior leaders have known each other as well”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that it was not systemic, right? There was no systemic recruiting at HBCUs in a way that was going to be sustainable, right? And I think that a lot of that was driven by needing to take some time and figure out how do we engage with these universities. We know we've got talent there. We've got density of talent, which is the important thing. And so I think giving us time to reflect on what had happened over the past few years was a really strong case for let's go, let's be direct and intentional, let's work with presidents of these universities, let's work with the deans, let's work with the students to develop a strategy together that's going to rise the tide for everybody.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“You be strategic in building partnerships over the long term that are going to have a systemic impact in the industry in which you operate. And that's where I really think that the three firms led by, again, Howard Tony and Mark really found something that was special and something that was a better solution to a question that Wall Street's been dealing with for years.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“I think all three gentlemen and Howard, Mark and Tony all recognize is that relationships help drive value. And so you got to have relationships with the schools and the places where there is a lot of black talent. And I think they saw HBCUs as an opportunity for that. I think what's important, though, and what's key is that we found ourselves at a very interesting point in time in 2020, in the wake of George Floyd, in the middle of COVID. And so I think everybody around the world, business leaders from across multiple industries, were trying to think about how can we make the world a better place? How can we address racial equity in a way that specific to the businesses that we operate in? And I think that's the key, right? This was not just about, you know, going out and being philanthropic, right, and making one-time gifts. This was about how can”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Credit Estate investing, hedge funds, everything kind of outside of traditional stock and bond investment. Things that are more private to market driven often. And so Our goal is to increase diversity in that space by working with partnerships at historically black colleges and universities, by providing students from HBCUs opportunities to have co-curricular programming, understanding exactly what you need to know to be successful in that role, also to provide mentorship for students so that they're not operating in a vacuum so that when they have questions, their people in the business, people that have experience in the business that they can talk to. And also by working and partnering with schools to provide financial support to help increase capacity not only for students, but also for the institutions themselves.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“And so, as you get ready to go to college and you start thinking about what your career could look like, it's going to be primarily academic for you. And so I think that's always a challenge, that they're not a ton of people. They're in the seats. They're getting access to, in this case, black students from across the country. They're giving them a look at this is what a career could look like for you. This is what an opportunity could look like for you. Here's what the realm of possibilities is. And this primarily is how you get there. Here's a path to get there. That's the biggest challenge.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source
“Barry, I think it's a complex question that requires actually a complex solution and a multifaceted solution. Would say the most general issue here is that folks don't have the networks and the access to careers in finance from across the country. So if you grew up in New York, yeah, you'll probably know some people that worked in the industry and you may have some relationships. You may go to school with somebody. Your parent may work there. And that's whether you're white or black. But if you don't, If you grew up in a market where there's not an investment bank, there's nothing other than a branch bank for one of the multi-dimensional financials, then you're not really going to have an understanding of what that career looks like at a young age.”
2022-11-18 · Masters in Business · Marcus Shaw on Diversity in Wall Street and Finance · IDENTIFIED FROM THE TRANSCRIPT · source