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Coming? Bro we’ve been nosediving since Q1 2023.
More specifically, it dates to November 2022 when Musk laid off the majority of Twitter's employees. This sent a message to CEOs that you don't have to hire expensive consultants to figure out how to cut costs, just fire all of your employees. Of course, what gets left out of the story is that it caused Revenue to plunge by 50% and Market Cap by 80%.
Consulting is due for a reset, Thiel is justified in his opinion. The responses in this thread alone largely prove why he is right… “shoot the messenger”
Set the example and self terminate
Ivy MBB consulting thinks they can manage the offshoring. Indian consulting is going to dominate as global corps continue to rapidly raise their Indian leadership % and go on cost.
Yeah, we know, we know. It’s not about cost, it’s air cover. Not in the new world of real interest rates and Indian MBB alternatives.
Wrong- AI will replace a lot of knowledge work, especially what is currently going offshore
I think he doesn’t understand how to use consultants. We are there so the ceos can blame us instead of taking accountability for their poor decisions.
Chief
I doubt Peter Thiel has the self awareness or humility to admit he's ever made a poor decision.
Off shoring has been going on for decades, yet we see domestic US based consulting firms continue to grow their workforce. Agree that the consulting model is ripe for disruption. Maybe the gains from off shoring work can be reinvested into new growth areas locally?
F