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Valuetainment
Trillion Dollar Consulting Industry That Rules The World - The McKinsey, BCG & Bain Influence
Oct 4, 2023
Patrick Bet-David discusses the trillion-dollar consulting industry and the influence of companies like McKinsey, BCG, and Bain in shaping global industries. He highlights how anyone can become a consultant today and explores the value of technology-enabled companies, pricing strategies for business success, and the expansion of IT consulting services. The podcast also touches upon the evolution of the consulting industry, emphasizing the importance of advice and introducing Minec, an app connecting experts and seekers of advice.
17:14
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Quick takeaways
- The consulting industry has become a trillion-dollar business, with companies like McKinsey, BCG & Bain influencing global industries and shaping the world.
- There is a growing trend of individuals paying for expert advice and specialized consulting services, leading to opportunities for anyone to become a consultant today.
Deep dives
The Business of Ideas: A Trillion Dollar Industry
The podcast reveals that ideas have become a trillion dollar industry, with people spending massive amounts on consulting and advice. This is exemplified by companies like Verizon paying $120 million to McKinsey for consulting. The influence of consulting firms has grown so much that CEOs of major companies and even government officials come from these firms. The podcast highlights the shift in the consulting industry and the growing trend of individuals paying for expert advice on various topics.
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