
London's billion-pound guilds - blowski
https://www.bbc.co.uk/news/business-46781809
======
scottlocklin
I dunno why they used the adjective "secret" -there's nothing secret about
them. You drive by enormous buildings with their names on 'em in London, and
there's a detailed wikipedia entry listing them all.

[https://en.wikipedia.org/wiki/Livery_company](https://en.wikipedia.org/wiki/Livery_company)

or for HN

[https://en.wikipedia.org/wiki/Worshipful_Company_of_Informat...](https://en.wikipedia.org/wiki/Worshipful_Company_of_Information_Technologists)

It's a cool piece of deep culture that the UK has. Other European countries
have such things as well (usually Catholic religious confraternities or dinner
clubs), though nothing like this dense concentration.

~~~
twic
I only found out about German academic fencing clubs recently:

[https://en.wikipedia.org/wiki/German_Student_Corps](https://en.wikipedia.org/wiki/German_Student_Corps)

As i understand it, they function in part as social networks for the upper
class, a bit like masonic lodges, or the Skull and Bones etc. I came across
them because there's a social networking platform for members which has the
same initials as a communication protocol i was interested in.

~~~
npstr
>for the upper class

Any university student can join these. They may have been somewhat elitist in
the past, and many still think of themselves like that, but most of them are
strapped for new members. Sure some time investment is required as well as a
general cultural fit, but the vast majority of those corps and other flavors
of German fraternities still remaining nowadays are open to any interested
students.

~~~
AmericanChopper
A lot of those old clubs have entry requirements (gender, religion...), but if
you meet them then just about anybody could join. They’ve mostly become more
interested in recruiting members to maintain their traditions than they are in
maintaining exclusivity.

~~~
baxtr
The best part of the deal is usually the cheap dorm room in a great part of
town where otherwise you’d have to pay a small fortune as a student. Of course
it mostly comes with the obligation to drink heavily... in Germnany most of
them have a “Pabst” for relieving purposes during those drinking events

~~~
rusk
_> most of them have a “Pabst” _

I just went looking this up and am none the wiser, please explain?

~~~
twic
My guess is it's a big canister which, when enough people have relieved
themselves into it, is shipped to the USA and distributed to hipsters in
Brooklyn:

[https://untappd.com/b/pabst-brewing-company-pabst-blue-
ribbo...](https://untappd.com/b/pabst-brewing-company-pabst-blue-ribbon/3883)

------
fredley
Not really secret.

To join one of the guilds is to become part of a small club of extremely
wealthy and/or well connected people, and the establishment in particular. One
route to entry is through charitable donations, and it's one of the more
direct means of exchanging money for power/influence in the UK.

~~~
rum3
Why is nothing being done about this?

~~~
growse
What, exactly, would you propose?

~~~
YUMad
Eat the rich?

------
walrus01
Is there anything stopping a group of totally random individuals from renting
a small office somewhere in the City, and calling themselves the Worshipful
Society of Penetration Testers or similar?

I guess they wouldn't be invited to the parade...

~~~
vidarh
They'd need official recognition to be considered a livery company, and that
would take some effort. But nothing would stop them from starting out as a
'normal' charity.

There is the Worshipful Company of Information Technologists(1). I looked at
it some years ago but didn't end up joining. It's relatively open - you need a
member or two to nominate you, but they have social events specifically open
to non-members in part for the purpose of giving prospective members the
opportunity to find someone who would be willing.

(1): [http://wcit.org.uk](http://wcit.org.uk)

------
billfruit
Similarly, the Inns of Court system of the legal profession where London
lawyers train and work, is also fascinating to know about. Even the four Inn
names Inner Temple, Middle Temple, Garry's Inn and Lincoln's Inn have
something romantic about them.

Melville wrote an interesting story about them "Paradise of Bachelors" (Which
is paired with another story "Tartarus of Maids" ).

~~~
pmoriarty
_" Melville wrote an interesting story about them "Paradise of Bachelors"
(Which is paired with another story "Tartarus of Maids" )."_

Both can be read here:

[https://msuweb.montclair.edu/~furrg/i2l/par-
tar.html](https://msuweb.montclair.edu/~furrg/i2l/par-tar.html)

------
ilrwbwrkhv
break em up

------
xiphias2
Good luck to them, but new money is coming fast. They either go along with
great new tech investments or lose out over time.

Maybe I was just lucky in the past years, but as a person working in tech,
coming from a poor family, but with access to great education, I see beating
the market as easy.

I won't give tips here, because I'm in the minority and I would be voted down
(which I see as a prerequisite for making returns).

~~~
scarejunba
They have land. Land usually beats inflation.

~~~
xiphias2
Land is worth a lot, and still more than other assets, but relative value of
non-tangible assets are increasing exponentially compared to land.

~~~
fastball
Yet land is the only true zero-sum game in economics.

