mckinsey thinks banks need to spend on tech/M&A to survive next downturn. thoughts?

lol personally i think its stupid. banks die from downturns because of defaults of loans, or depositor exodus. not whatever the hell they are talking about. though i am sure they will come up with some 4d chess explanation. lol

This seems interesting, and I wish I knew enough to have an opinion.

I’m sure there’s some optimal number for the innovation allocation, but what’s to say that fintech allocation isn’t too high.

How many of these start ups with the 70% allocation to innovation are going to survive the next downturn?

Consulting translation: if you don’t evolve you will perish but you don’t have the technical expertise to make such change so you’ll likely need to hire a consultant. 1m consulting contract could translate to the different in billions of dollars of net income and by the way, we are the leading consulting company.

Nailed it.


Who wants to start a consulting firm with me? Lets go get some of this paper

I’ll handle the Southeast, you handle the Southwest, we’ll have the most regionally-specific consulting expertise on this side of the Mason-Dixon.