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> Excitement among clients over this type of “generative” AI is also creating opportunities for new work. Mr Schweizer says that BCG has already completed hundreds of projects with clients around the technology. Accenture has booked $1.1bn-worth of generative-AI work in the past six months. During a gold rush teach people how to use their shovels.
Gotten* C'mon, The Economist
Gotten* C'mon, The Economist
Current McKinsey here. I don’t think anyone expects the current difficulties to last indefinitely. Its fairly well established that consulting struggles during times of economic uncertainty (but does fine when things are outright bad or good).
Would there be any advantage for anyone to state they feel the opposite to your view publicly? Seems like a career limiting move.
Of course they got too big, and especially they got too enmeshed with the auditing business. It's time to break them all up. The "firewall" that should be there from a legal perspective is a joke in practice, and when there are only three to four companies, there is no place for fresh blood and with it fresh ideas to enter the market.
The entire point of these consultancies is to allow collusion between competitors, which is otherwise illegal.
Let me propose an alternate theory: fines and enforcement have become too small, so-as to become just a cost of doing business . Many of these employees are so-incentivized by fiscal profit that they fail to see the immorality, just seeing opportunity. Maybe if our regulators weren't in bed with so many of the major funds... "If you think there's a solution, you're part of the problem." —George Carlin (Conan O'brien…
You very quickly boil it down to morality and ethics.
Americans have a broken ethics code that says the free market magically solves the need for anyone to be a good person - if someone's a selfish ass, the free market and 'competition' will magically fix it.
Therefore I can be in bed with whoever I like, whenever I like - both literally and figuratively.
Life wasn't too bad as long as Americans believed in religions and this extremely stupid free market idea was balanced by an extremely stupid idea of God that wants you to be 'good'.
Now that Americans are unconstrained by anything and further emboldened by extremely stupid ideas of magical free markets - they're well on their way to societal collapse.
This is why Jordan Peterson is trying to bring God back - he knows Americans are a collapsing, degenerate culture. It's the wrong move and it won't work but he (unlike 99% of people) at least understands the root the problem. Oh well.
I wouldn't mind it too much because stupid societies full of stupid people should and do inevitably collapse but these stupid people have nuclear weapons. The way it's going - we will have nuclear war.
ps. most other cultures are also extremely stupid (they just have a different set of extremely stupid ideas). Americans just happen to have become the world ruler so they're of greater interest.
Of course they got too big, and especially they got too enmeshed with the auditing business. It's time to break them all up. The "firewall" that should be there from a legal perspective is a joke in practice, and when there are only three to four companies, there is no place for fresh blood and with it fresh ideas to enter the market.
McKinsey isn’t in the auditing business at all. And those that do play both went the other way, transitioning from auditing into consulting. There’s a ton of competition in consulting in general.
Obligatory John Oliver video on the topic: https://youtu.be/AiOUojVd6xQ?si=anI1_FKkDM4oDI1M
Let me propose an alternate theory: fines and enforcement have become too small, so-as to become just a cost of doing business . Many of these employees are so-incentivized by fiscal profit that they fail to see the immorality, just seeing opportunity. Maybe if our regulators weren't in bed with so many of the major funds... "If you think there's a solution, you're part of the problem." —George Carlin (Conan O'brien…
You're gonna have to connect some dots to legal fines, etc.
Fortunately we also receive miniscule enforcement/penalties.
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