The Sinister Methods of McKinsey, BCG and Bain

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Sheryl Sandberg, the legendary COO in charge of Meta, Satya Nadella - CEO of Microsoft, Mitt Romney, US Presidential Candidate, and John Legend, the grammy award-winning musician. They all have one particular thing in common that they share with other extremely successful people: They all worked for one of these three consulting firms: McKinsey, BCG or Bain. But what few know is that these consulting firms are not only creating positive value for the economy.

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Chapter overview:
0:00 The Evil Business of McKinsey, Boston Consulting Group and Bain (MBB)
3:13 How a chemist from Boston invented a $900 billion industry
7:25 The Legend of McKinsey
15:27 The betrayal of the Red Faction
18:40 The Fall of McKinsey - Purdue Pharama
24:39 Golden Handcuffs - The Prestige Trap
31:42 Here to stay, but need to change

[TheGreekGodOfWallStreet]

I never understood why many women pursue guys that give off blaring red flags 🚩, then I looked at my career goals.

[FreddieHenley-zwx]

man, seeing that bit about the evil biz of mbb firms hit home. felt like i was stuck in a loop trying to prep for those case interviews alone, zero structure, just winging it every time. so funny, but stumbling upon the thinksters was my “aha!” moment. they taught me how to solve cases with frameworks without being stiff. their approach made a huge difference, and after putting in the work, i actually got that offer from bcg. i used to think free systems weren’t worth it, but back then they had free coaching deals that worked like magic for me. haven’t checked lately tho. lifes crazy, huh?

[megalomedia]

Hello everyone, we mixed up the revenue figures for BCG and Bain at 3:27 - they are supposed to be swapped (McKinsey is largest, then BCG, then Bain which is the smallest). Thanks for pointing that out.

[skyflower]

The fact that we are being told biographies and business stories in entertainment form is absolute gold.

Thanks megalomedia!

[nirajbirla]

00:03 The reputation of MBB consulting firms has suffered due to scandals and their business practices.
02:44 Arthur D. Little laid the foundation for the consulting industry, reshaping global business strategies.
08:20 McKinsey's innovative approach revolutionizes management consulting
11:08 McKinsey's shift to specialized industry expertise and technology
16:49 Bain and Company's unique business philosophy challenges traditional consulting methods.
19:20 McKenzie advised Purdue on aggressive marketing of OxyContin, contributing to the opioid crisis.
24:03 MBB recruits top talents through promises of money, prestige, and power.
26:23 Talented professionals in diverse fields are drawn to consulting, depriving industries of their expertise.
30:53 MBB recruitment strategy and the challenges of attracting new talent
33:12 Consulting industry at a Crossroads

[arthurteo]

The quality of your power point presentation in terms of convoluted content, embellished with eye catching bells and whistles or lack of, can make or break careers in Corporate settings.

[Manitasdellabitas]

Do a video on the top Us law firms please (cravath, S&C…)

[phily]

That comment you showed while saying, "Leave a comment" 😂 Good man, roll with the punches. Respect 😂

[irenelee]

consulting industry takes too many young talented grads but I think those ppl are not for research. Even if they don't have a job in consulting, they go where the money goes (Investment banks for eg)

[amaanansari]

Satya Nadella never worked in consulting ...

[mrYazeed]

To point a mistake: at 3:30, you swapped bain and BCG revenues

[suryansh]

Awesome documentary contains lots of insights tx

[rayamuro]

9:27 "Next to Kevin Jon." Lol!

[DiavoloQuotes]

It’s funny that he never mentioned the average number of years of staying at MBB. Would you be surprised to learn that majority changes career path after 2-3 years. Most common pivots are startups, investment banking and Fortune 500 management jobs

[bdk]

a great overview and injection of new perspectives!

[ovibiswas]

do more about disturbing more evil companies like nestle bayer volkswagon hugo boss glencore trafigura shell bp etc etc .

[footwearXP]

What software do you use for these videos?

[christophwieland]

04:27 True - Amazing documentary. 👌🏻👌🏻

[Czulu]

Great video ! Btw, what is the music in the background around 18:00 ? I think i heard it before but cant put my finger on it.

[AAirways]

At 27:14 While the brightest minds leaving R&D, and siphoned off to cnsulting, does hurt some, the problem is that, in the absence of consulting, there would be a glut of underemployed researchers, which would be deeply felt in biomedical research, and other areas of STEM.

It would make the structural issues with PhD underemployment even worse or, if it didn't for some reason, the talent landscape just wouldn't be the same...