Give This Guy Some Beer Money

Author:
Publish date:
Updated on

You probably read over the weekend that top talent are fleeing their TARP-taking employers for less restrictive pastures. Wildly, another ship-jumping movement is occurring on Wall Street wherein instead of finding homes at boutique banks, hedge funds, or in the land of those who've already made enough to just retire now, people are making the leap to the unemployment line 'cause they've been fired and can't find placement elsewhere in the financial services industry. While some are attempting the rather unsavory route of government work, a small but growing group of engines that could are hoping to do their own thing. But it'd be a lot easier if they could get a little help (money) from someone (you).
Take Drew Weinstein. Aaron Elstein reports that former Cowen & Co. research analyst (who got laid off from his job last October) wants to start Magellanic Brewery, which will outsource the job of brewing to other breweries that will make his like but "better" than Budweiser beer. Only problem is Weinstein needs money. About $2 million should do it and then we're off to the races. Will you see a return on the investment? Though Dubya acknowledges "the risks are daunting," and psychologist Ari Kiev is already naysaying the venture, cautioning that Wall Streeters' "confidence, naïveté or arrogance leads them to think that developing a business is easier than it actually is," we'll put it out there now-- you bet your ass you will. Weinstein projects the start-up "could generate $50 million in revenue by 2013," not to mention the free (or deeply discounted) drinks. Who's in?

Related