By Chris Taylor
NEW YORK, March 20 (Reuters) -
There are a lot of guilty pleasures out there, but here is one common to plenty of movers and shakers on Wall Street: Watching “Succession.”
The fourth season of the popular HBO series premieres on March 26, tracking the dysfunctional Roy family as they continue to gobble up the media universe and destroying all enemies.
"Succession" is filled with instructional business tales – some about what to do and some about what not to do. But the world-dominating aspirations of Waystar Royco’s Logan Roy, the cut-throat patriarch of a conglomerate portrayed by Brian Cox, make it impossible to look away.
To tease out key money lessons, we talked to a few leaders in the financial world about their best takeaways.
Ken Lin
Founder & CEO, Credit Karma
Money lesson: Who is on your board matters more than the size of the check
“When it comes to the business fundamentals, looping in outside investors – particularly those who you don’t trust – is a risky move.
“Someone once told me, ‘All money is green, but not all board members are the same.’ That stuck with me. On the fundraising trail you can get money from all kinds of investors, but it’s more important to optimize for board members who bring the most value to the business – including sector expertise, operating experience and their networks, over investors who can write the biggest checks."
Liz Davidson
Founder & CEO, Financial Finesse; Author, “Money Strong”
Money lesson: Focus on financial independence so you can fulfill your true purpose
“The purpose of money is to live your own purpose, but the Roy children are extremely tied financially to their father. His purpose has become their purpose. They have aligned their own futures with the success of that company, and that’s very dangerous. They don’t have the independence to stand on their own.
“All the siblings ultimately want to take their father’s position, but the chances of that happening are very low. If they had built their own financial security, separate from dad, they wouldn’t have to be fighting each other all the time.
“There is a really poignant scene in one of their old childhood bedrooms. They are just behaving like siblings, and they obviously have love for each other. But when it comes to business, they will do anything to get ahead.
“Succession is about what goes wrong when you don’t have your own sense of identity. It’s incredibly toxic to make someone else’s dreams your own – and that’s why it’s such a fascinating show.”
Doug Lebda
Founder and CEO, LendingTree