Duke Hedge Fund Access

A story about how Shaan Puri took a chance to pitch a business idea in his college class, despite it being rejected, and learned valuable lessons about failure in America.

"When I was in college, I was pre-med and took the MCATs, ready to go to medical school. I took this blow-off class called 'Getting Rich' - it was the easiest class offered on Duke campus. The professor would bring in successful people to talk to us.

One day, a hedge fund guy came in and after talking about his career, he said 'What about you guys? Who's got a business they're running or want to launch?' He scanned the room saying 'Pitch me, that's what I do, I invest.' There was complete silence - nobody raised their hand.

I was sitting at the edge of the class, and the night before, my friends and I had this idea for a Chipotle-style sushi restaurant. I decided to take the shot. I raised my hand and pitched the idea. He immediately said 'That's a terrible idea,' but then he gave this lesson:

'This is America - it's the only country on earth where you get rewarded for failing. You can fail at a business and people will give you positive credit for trying. Most countries don't work that way. And if you want to work in a hedge fund someday, the first three-fourths of your resume will look the same as everyone else's. The bottom section is the only way you'll differentiate yourself. So go do your sushi restaurant - it'll help you in what you want to do, even if it fails.'

And that's pretty much exactly how it played out."