Streetwise — Chapter 1: Advantages

1. 1. Lloyd Blankfein grew up in the Linden Houses, a public housing project in East New York, Brooklyn, in a working-class family.
2. 2. Blankfein's father worked as a mail sorter at the post office, a job he took for the 10% night shift pay boost.
3. 3. Blankfein's first commercial venture was selling used comic books at a 50% discount in front of his building.
4. 4. Blankfein skipped eighth grade through a New York City program for strong students and chose to attend the neighborhood high school, Thomas Jefferson, rather than a specialized magnet school.
5. 5. Blankfein worked as a vendor at Yankee Stadium at age 13, earning a 13% commission on sales of hot dogs and sodas.
6. 6. A summer job at Raquette Lake Boys Camp exposed Blankfein to children of lawyers, doctors, and businesspeople, giving him a chip on his shoulder and fueling his ambition.
7. 7. Blankfein's childhood neighborhood, East New York, underwent rapid racial change from 85% white in 1960 to 80% Black and Hispanic by 1966.
8. 8. Blankfein was mugged at knifepoint several times, including once in his own apartment building by a neighbor, but was never hurt.
9. 9. Blankfein attributes his street smarts and ability to read people to his outsider status growing up in the projects.
10. 10. Blankfein still identifies with the waiter more than the customer and the cab driver more than the passenger, despite his wealth.