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Does the name Goldman Sachs resonate in other parts of the country like it does here in NYC? It’s the investment banker’s investment bank. A Westworld lab where they churn out douchebag robots who stimulate the economy like Ryan Gosling’s character in Crazy, Stupid Love due to all the dumb toys they buy for obscene amounts of moola. Goldman is the modern-day indentured servitude: you work like 20-hour days and in return, about five years down the road, you’ve probably got a net worth of a milly.
And now Goldman has a new employee: old friend JoJo Fletcher, former Bachelorette and fiancée (still!!!) of Jordan Rodgers.
Per The New York Post:
Goldman Sachs is trying to tap into America’s reality television craze to pitch its new consumer loans.
The investment bank has partnered with JoJo Fletcher, who gained fame on “The Bachelorette” and will now market the firm’s home renovation loans, the company announced last week.
Fletcher was a real estate developer before she gained fame on the ABC show.
Fletcher will represent the bank’s consumer lending business, Marcus, in a series of promotions ranging from nearly two dozen appearances on local US television stations to posts on her Facebook and Instagram feeds, where she has more than 2 million followers.
This has to be the pinnacle of Instagram fame, right? While most ex-stars of Bachelor/Bachelorette lore jockey for position among themselves fighting over a few internet dollars from FitTea, SoulCycle, and whoseywhatnots, you’ve got JoJo just ascending to the top of Instagram fame like she’s motherfucking Mason Ramsey, by signing a fucking marketing deal with Goldman Sachs. Good for JoJo, she deserves it.
But to me, the real story here is Goldman Sachs. They’ve made a brilliant move here. Beyond brilliant. Everything JoJo touches turns to gold Jerry gold. She’s got to be the most likable Bachelorette right? I mean, everyone loves her. I’ve never met anyone who doesn’t. Probably sampled at least a hundred people Family Feud-style and the market research is in and we went 100/100, people love JoJo.
Goldman doesn’t do this move unless their marketing team is convinced this is a good move, and I could have saved them all the market research money they spent trying to come to this decision. Probably spent a few hundo-thousand on focus groups and shit. Meanwhile, I would’ve taken, IDK, half that? Yeah, that sounds right. Half that and I would have let them know that you go with JoJo and you watch the money roll in.
Anyway, how about a little trip down memory lane?
Yep, still got it. .
[via The New York Post]
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Boston Max
Spending my retirement fund at Trader Joe's and trying to remember to check my mailbox semi-regularly
@BostonMaxG
@boston_maxg
Unfortunately (or fortunately, depends how you look at it) GS is losing some of it’s luster and “elite” status when they roll out a program like Marcus. They’re reaching to the common man which is somewhat frowned up in the elite banking world since it’s what made “Wall Street Elite” what it is. When GS is trying to reach us peasants, all is not necessarily as well as it used to be.
Now we’re going to have a bunch of millenials running around bragging that they do business with GS when in reality they took out a $25k loan, much to the chagrin of the Big Bank when they turn around and bundle these outstanding debt securities (CDOs) with other trash and sell it back to the public. It’s like feeding you your own shit, and when these loans start to inevitably default again because they shouldn’t have been issued in the first place, we will have another economic meltdown much like ’08 and we can once again peg GS for being the “out of touch Wall Street Elite” that we know and love. :o)
I had too much coffee this morning.
You don’t deserve the downvotes. This is straight truth. But those who “Feel the Bern” still believe a bunch of nonsense.
I agree with a part of this. GS is reaching down, but I think that’s simply because there is market share to have. Consumer lending can be very profitable (if scaled accordingly), so any institution would try and gain some, if possible. And you are right, the pleebs like us would look into GS first just so we can say we do business there. That is all name recognition. I will say, they do have a high yield MMA at 1.60%, which is significantly higher than most institutions. Most other banks have 0.04% (fart noise)
I’ve seen SOFI offering similar types of loans (up to $100k?!) for home renovations. Between student debt, a new mortgage, car payments, etc., I am just not sure that I can explain the concept of over-leverage to Bachelorette viewers (read: 20-30 somethings) that would consider getting into this.
JoJo seems nice though.
There is no explaining to do. Just buy long-term short options on student loan debt and wait for the impending destruction. In the words of Nevis, “lol”.
Nevid*. Ahhhhhhhh!
The elite stems from their status as an investment bank. Most of the other bulge bracket banks have provided consumer banking services for awhile….
Looks like someone watched The Big Short, huh
I mean, great movie but I work in finance. Does that qualify me?
Great movie and great book. And your comment is accurate.
You forgot to cite your sources, bro. Day 1 stuff.
Ya, I work in corporate finance too. If I need any tips on fake dates though, I’ll make sure to @BostonMax
I hereby nominate this comment for burn of the year.
lol. Coming from the guy who doesn’t know what a date is.
Jojo is still a babe and Jordan Rodgers is still a fuckboi
Just what we need… Goldman finding another way to get poor people to borrow money they can’t pay back to buy things that they don’t need.
“Bad Credit, No Credit? No Problem!”
Hell yeah, predatory lending just took over social media. Its gonna be hilarious when this shit tanks and we see JoJo on IG saying “you can pay off your life suffocating debt with a variable rate interest loan! What better way to pay off debt than paying it with more debt!”….then she’s gonna slowly realize what she’s done as she’s overlooks the city in her penthouse apartment as everyone below is killing each other over bread and water as a Goldman Sachs banker creeps up to the ledge of the skyscraper above her
Sorry, “lol”….hahaha
Brb, applying to be the bachelorette
Sup?
Suh**?
Having a smokeshow market anything is always a good idea.
Fun fact: They are currently battling a mumps outbreak on their trading floor
GOAT
Finance has never been sexier
Why the fuck did I go to college.
Are you hot? If yes, don’t go to college. If not, go to college.
More of a point that I could’ve yodelled in Walmart, pretended I’m black/cash me outside, or just done insanely stupid shit and people would’ve some how been hooked. A Kardashian can affect the stock price of a billion dollar company. This world is a crazy place.