March 20, 2014
Rejoice: @GSElevator has a new publisher
by Alex Shephard
It’s been a wild couple months for the mediocre Twitter account @GSElevator. In January, the account was riding high, having signed a six-figure book deal with Simon & Schuster to the consternation of both Wall Street and people who appreciate comedy (an odd coupling, I know). But things started to drop when Wall Street errand boy Andrew Ross Sorkin doxxed the man behind the account as John LeFevre, who although he had claimed otherwise never worked at Goldman Sachs. The doors finally closed late last month, when Simon & Schuster canceled the book deal, citing “information that has recently come to our attention” (presumably the fact that, you know, LeFevre never worked at Goldman Sachs).
But, as we all know, elevators—even horrendously unfunny elevators—don’t stay down for long.
Yesterday, Grove Atlantic announced that it had given the account—now labeled “satirical,” presumably because it isn’t true—a new six-figure deal. In a press release, Grove Atlantic’s publisher Morgan Entrekin praised LeFavre and the @GSElevator account, “John’s satirical voice captures the outrageous, excessive yet fascinating lives and culture of a certain segment of the international banking elite. His work is amusing, disturbing, and at times shocking.”
Most interestingly, LeFevre uses the opportunity to reframe his endeavor wisely, saying “It’s about my stories and experiences from my own unique vantage point on Wall Street—the bond syndicate desk. This book pulls the curtain back on the trading floors and roadshows to private planes and after-hours overindulgences. I’ve seen it all.” Got that? It was all a sham, but it pulls back the curtain from the vantage point of the “bond syndicate desk.” And who needs to go after Goldman Sachs when you can see Wall Street from your window?
Alex Shephard is the director of digital media for Melville House, and a former bookseller.