Jared Carmel

Ep. 39 — A New York college graduate’s surefire path to success is upended by the September 11, 2001 terrorist attacks /Jared Carmel, Managing Partner, Manhattan Venture Partners. New York native Jared Carmel was ready to take on the world in 2001 when he hit the job market fresh out of college. But his dreams of a cushy job at a big Wall Street investment firm evaporated in the dust of the 9/11 attacks. Carmel eventually got hired at a boutique investment bank where he earned his chops wearing lots of hats and learning lots of skills. Carmel became a pioneer in the development of secondary markets for pre-IPO technology companies. A founder and Managing Partner at Manhattan Venture Partners, Carmel has helped create nearly $2 billion of invested capital across more than 30 businesses with over 20 liquidity events including Facebook, Twitter, Pinterest, Lyft, Spotify, and Alibaba, to name just a few. Carmel's path to wealth was bookended by not one but two economic downturns – post 9/11 and the 2008 recession. So he has a wise perspective on the #Covid-19 rollercoaster. He believes individuals and investors should look past the shock of the current U.S. crisis and read the global macro tea leaves. A master venture capitalist's masterclass on weathering the #coronavirus catastrophe. That's on my leadership podcast🎙️When It Mattered. ⬇️ Link Below ⬇️ 🎙️ https://lnkfi.re/chitra Read the Transcript Download the PDF Chitra Ragavan: Jared Carmel thought he was on a surefire path to success when he went to college in 1997 in Buffalo, New York to major in informatics. But by the time he graduated and was ready to hit the ground running in September 2001, the world had changed. Carmel eventually got hired at a boutique investment bank where he earned his chops by wearing lots of hats and learning lots of skills. Chitra Ragavan: Hello, everyone. I'm Chitra Ragavan, and this is When it Mattered. This episode is brought to you by Goodstory, and advisory firm helping technology startups find their narrative. My guest today is Jared Carmel, Managing Partner at Manhattan Venture Partners and a pioneer in the development of the secondary market for pre-IBO technology companies. Chitra Ragavan: Carmel's primary focus is providing liquidity and diversification for shareholders of illiquid, high-profile, venture backed private companies. Carmel has helped produce nearly two billion of invested capital across more than 30 businesses with over 20 liquidity events including Facebook, Twitter, Pinterest, Lyft, Spotify, Alibaba, DocuSign, and Airbnb. Jared, welcome to the podcast. Jared Carmel: Thank you for having me. I'm very excited to be here. Chitra Ragavan: You thought you had it all figured out when you went to college back in 1997, but as it often happens life took a twist. What happened to you? Jared Carmel: You're right. I did think I had it all figured out. So I started school in 1997, probably one of the best times that the United States has ever seen. By the time I graduated in 2001, the world really took a turn for the worst. Nearly nine months after the tech wreck and about 90 days before September 11, I graduated. Started to look for jobs just like everybody else, and then September 11 occurred. I thought that I'd be working at a large Wall Street investment bank somewhere. And then all of the sudden, post-September 11, there was no jobs anywhere in the world. Ultimately, I think that really formed and helped shape who I've become today, but when you're from New York, from a family who didn't have a lot of connections, it was very hard to figure out where you were going to go from there. Chitra Ragavan: So what did you do? How did you cope with that and how did you even look for work? Jared Carmel: The first thing I did was try to reach out to friends and family to see if there was anybody with connectivity. My father, as I was sort of indicating before,