By: Laura Phillips
Shawn Chang has been working in and around Washington D.C. ever since he graduated from college and started out on Capitol Hill as a staff assistant, moving onto more substantive Hill roles, law school, law firms and more. He is currently the Senior Vice President for Telecom, Media, and Tech (TMT) Policy at Washington Analysis, LLC, which was acquired by CFRA Research about 4 years ago. Washington Analysis is a leading independent institutional research firm dedicated to anticipating and analyzing changes in public policy that impact financial markets. It serves about 250 institutional clients across hedge funds, mutual funds, and alternative managers. Shawn has been with Washington Analysis since just March of this year and he is approaching TMT issues a bit differently in this new role, learning about how the worlds of telecom law, regulation and policies intersect with that of the global financial community. I was so glad we had the chance to connect and reflect on his career perspectives.
Q. What attracted you to the field of communications?
A. My first job out of college was to work for a member of Congress as a staff assistant. As a junior staffer, I was given the portfolio of covering several “junk” issues for that office at the time, including issues related to media and telecommunications. One of the first things that got me really interested in TMT policy was learning about how, through a single sentence, Congress eliminated the national radio ownership cap in the Telecommunications Act of 1996, thinking that it would increase competition. Of course, the elimination of the rule paved the way for a rush of consolidation of radio station ownership across the country in the late ‘90s. This in turn led to the rise of syndicated talk radio shows that I think really influenced the political discourse of our nation. I think understanding the interplay between democracy and control of the mediums that disseminate news and information really got me interested in the field of communications.
Q. Tell us about the various places you’ve worked through the years.
A. I spent a total of 12 years working for Congress, with 6 of those years working for House members’ personal offices as a legislative assistant and another 6 years working for the Energy and Commerce Committee as counsel on communications and technology. I had intended to go to law school right out of college and I was accepted, but the Congressional staff assistant job seemed like such a great opportunity to expose me to a wide variety of issue areas that I took it and deferred law school for two years. Like many others on the Hill that decide to go to law school, I took the part-time, four-year path to my degree, while still working. In between working for personal Congressional offices and the Committee office, I worked for the public interest advocacy group Free Press for almost a year while I was finishing up my law degree and taking the bar exam.
I knew at some point I wanted to work as a “real” law firm lawyer, at least for a while. When my Committee Chair retired, it gave me the opportunity to explore the law firm world. I was fortunate to join Wiley Rein as a counsel; and I was promoted to partner two years later. I was with the firm for almost a decade. It was a great experience and after taking a little time off I joined Washington Analysis as SVP on TMT policies earlier this year.
Q. Have things unfolded in your career more or less the way you planned?
A. Yes, more or less. I’ve always wanted a diverse set of public and private sector experiences, so I’m glad to have worked for the House Energy and Commerce Committee focused on communications and technology. I “retired” from the Committee once Chair Henry Waxman retired but I was fortunate to work at Wiley alongside some of the best colleagues who are all experts in the TMT legal practice. I’m excited about my new role and all the new things I am learning from my talented new colleagues about finance, the vast array of financial products and services. This all helps to better inform my TMT work for clients. And there are still some career adventures in front of me, I am sure.
Q. What’s the most interesting or challenging thing that you’ve done in your current position?
A. I think the most interesting challenge is doing the deep dives to understand a brand-new set of investment terms and to really learn how the stock market works – not just in the U.S. but globally. Whether it’s the mechanics of short selling or pre-market stock trading, it has been both interesting and challenging getting to know the world of institutional investors and to understand what is of most interest to them, particularly as they are as varied as the clients one might serve in a large law firm.
Q. Is or was there something interesting or someone who surprised or impressed you during your career and why?
A. I have been most impressed by two members of Congress that I worked for – Senator Tammy Baldwin and House Energy and Commerce Chairman Henry Waxman. Tammy showed me how an elected official can remain an authentic person and stay true to herself while doing an outstanding job representing diverse constituencies. Henry showed me that a true leader is not afraid to surround themselves with talented people who are not afraid to speak their minds to offer the best advice, even if that advice isn’t exactly what the leader might ideally want to hear.
Q. What do you enjoy reading?
A. My most enjoyable reading comes not from books but from long-form journalism such as articles found in the New Yorker, the New York Times Magazine, and the Atlantic.
Q. Is there something (a hobby or other tidbit) people don’t know about you that you are willing to share?
A. Well, I think my hobby is one that not many people in the FCBA share and it started back during my childhood in Taiwan. There were many companies such as Mattel back then making action figures in factories in Taiwan and due to her job my mother was able to give me samples of these figures, like early Masters of the Universe figures. This started me on a path to collecting action figures that continues to this day. I think they represent for me a bit of nostalgia. I won’t tell you how many I have or my favorites. They do make interesting office accessories.
Q. Can you share your perspective on the pitfalls to avoid or other career advice for those who are just getting started in the communications field?
A. Sometimes you can become immobilized by a fear of failure, and that stops you from taking necessary risks in your professional life. Recognize that feeling and don’t be afraid to try and fail. I always learn so much more from my failures than my successes. Embracing failure is an essential part of the learning process that enables you to move beyond the simple win-or-lose mindset and grow.
Another piece of advice is not to be afraid to ask questions. I have often found that some of the smartest, most knowledgeable people I’ve come across ask the most questions because they know they don’t know everything.
Q. How has your life changed as a result of COVID-19?
A. I definitely got more used to and comfortable working from home!
Q. How long have you been an FCBA member, and what to you is the value of FCBA membership?
A. I’ve been a member of the FCBA since around 2009. I feel that even back then the FCBA did a good job holding forums and events that allowed me to connect with other TMT practitioners. As a hill staffer you are often limited to meeting with only lobbyists and other staffers. FCBA forums and events allowed me to branch out and meet in-house lawyers at companies, trade associations, and law firms who have been so helpful to me as I transitioned from one job to another. It has provided me with a network of wonderful contacts throughout the TMT ecosystem and many great friendships. FCBA membership has been invaluable to me when it comes to networking, career development, and deepening my understanding of specific issues. Being part of the FCBA means that I am part of a community, a community made up of individuals that respect and support each other. You can’t do much better than that!