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Rising Star
The holding companies are terrible businesses.
First day of business (or ad) school they teach you how important it is to differentiate yourself and have a unique selling proposition. Holding companies strip all of that away from the companies they acquire.
Rising Star
This. The prospect of being laid off is grim, but the way it’s making survivors increasingly paranoid, political and workaholic is ensuring that whatever’s left will hardly be worth joining.
This business used to be fun.
Agencies used to have dignity — to the point where we’d stick up for ourselves.
We used to be able to push back on ridiculous requests.
…Now we’re all working toward the sad bottom of the barrel, with stagnant salaries and no prospect of better days ahead.
The WSJ had a podcast on the toxic culture in investment banking and I know I should feel sympathy for them because working crazy hours is terrible no matter what, but I can’t help but feel resentful of them at least making insane amounts of money for it and getting all this press about how the culture needs to change for them like it doesn’t exist in every other service industry.
Rising Star
There’s also a downside.
You all stated what is happening so well. It's sad to come to work fearing what is going to happen.