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20 year olds out of university know nothing about business, management, finance or the economy. The financial system and economy are in a constant state of flux

20 year olds out of university know nothing about business, management, finance or the economy. The financial system and economy are in a constant state of flux, everything they teach in university is already outdated 10 years before you even start the degree. As for economics, most of what they teach has nothing to do with the real economy; just some phony models with fancy math which bear absolutely no relationship to the actual current state of the economy. Any executive who can benefit from the advice of a 20 year old shouldn't be in a leadership position in the first place.

jankyxenon 6y ago
If it's that obvious, stop to think about a few things. Why is management consulting a billion dollar industry? Are there that many clueless executives running F500 companies (pretty much all of them). Or perhaps your understanding of management consulting isn't quite right.
- cryptica 6y ago
  >> Why is management consulting a billion dollar industry? Because most rich people are idiots but they have direct access to money printers via hundreds of legal money laundering schemes going on in the background so they can afford to waste as much of it as they want on whatever they want and still be profitable.
klmadfejno 6y ago
Consultants are not expected to just know the answer. They're supposed to figure it out by talking to people in the company and looking at data. A 20 year old with full DB access and a python script can tell an executive a lot of things they don't know.
- orzig 6y ago
  Agreed, starting my career as an in-house data analyst at a mid-sized public software company, I was able to show executives things they didn't know within a few months. Not because I was particularly smart, but because there was so much low hanging fruit. While I disagreed with him on this point, here's another angle on how low hanging the fruit was: My manager _explicitly_ told us to never use statistics, because we'd be wasting our time with effects which weren't large enough to be obvious.

jankyxenon 6y ago

If it's that obvious, stop to think about a few things. Why is management consulting a billion dollar industry? Are there that many clueless executives running F500 companies (pretty much all of them). Or perhaps your understanding of management consulting isn't quite right.

cryptica 6y ago
>> Why is management consulting a billion dollar industry? Because most rich people are idiots but they have direct access to money printers via hundreds of legal money laundering schemes going on in the background so they can afford to waste as much of it as they want on whatever they want and still be profitable.

klmadfejno 6y ago

Consultants are not expected to just know the answer. They're supposed to figure it out by talking to people in the company and looking at data. A 20 year old with full DB access and a python script can tell an executive a lot of things they don't know.

orzig 6y ago
Agreed, starting my career as an in-house data analyst at a mid-sized public software company, I was able to show executives things they didn't know within a few months. Not because I was particularly smart, but because there was so much low hanging fruit. While I disagreed with him on this point, here's another angle on how low hanging the fruit was: My manager _explicitly_ told us to never use statistics, because we'd be wasting our time with effects which weren't large enough to be obvious.