4 ms·
Tech is indeed is an industry. Look at it this way: Big law firms are called that because they hire a lot of lawyers (and lawyer-types); big 4 accounting firms
by sah2ed 9y ago
Tech is indeed is an industry.
Look at it this way: Big law firms are called that because they hire a lot of lawyers (and lawyer-types); big 4 accounting firms hire a lot of accountants and big 5 tech firms hire a lot of software engineers (or CS majors if you will).
They are called that not because they don't hire HR, IT, finance or other professionals, they are called "big X" because specific professions (lawyers, accountants, software engineers) dominate their hiring.
The quality and quantity of their hires from those professions in turn determine the amount of profit they are able to extract from whichever industry they choose to focus on/dominate.
- mathattack 9y agoIndustry is what they sell. The largest division at Goldman Sachs is IT but it's still a bank. If a bunch of accountants just invested in tech companies they would be a VC fund not an accounting company.
- mbesto 9y ago> They are called that not because they don't hire HR, IT, finance or other professionals, they are called "big X" because specific professions (lawyers, accountants, software engineers) dominate their hiring. Except that's fundamentally not true: http://tomtunguz.com/saas-spend-allocation-benchmarks/ http://tomtunguz.com/saas-spend-allocation-benchmarks/ Should we just call them "sales companies"?