Sunday, June 29, 2008

The Value of Connections

It is rare that you get to see an exact dollar price on the value of a connection, although connections can, of course, be very valuable. That's why leading government bureaucrats are so in demand by law firms and lobbyists. The bureaucrats can provide access to, as well as info on the methods of operation of, specific government agencies.

But the value of connections extends well beyond the corridors of Washington DC. What better example can there be than the recent auctioning off for charity of the opportunity to have lunch with Warren Buffett?

The winning bid: $2.1 million. Clearly, someone sees great value in connecting with Buffett.

Zhao Danyang of the Hong Kong-based Pureheart China Growth Investment Fund won the auction, which ended Friday evening with a bid of $2,110,100.

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