In most industries, technological change is happening at a rapid rate. I find it is happening in different ways to every industry in the world, and positioning yourself for that, and trying to get ahead of that, is a big conversation right now. Digitization has created opportunities for everybody to accumulate information in a way they were never able to, and analyze it with a speed that just wasn't there.
Ken MoelisRemember, for 5,000 years people probably rode those horses. They probably felt that horses were a permanent part of civilization. Everybody has had this moment.
Ken MoelisNot everybody has experience in drilling for oil in the Permian Basin, but the same thing is happening in every industry everywhere in some manner.
Ken MoelisEverybody is looking at their base business and saying, "What else is it? Sure, we do this, but while we're doing that, what else do we know about our customer, and what does that enable us to do?" That comes from the access to information and the ability to analyze it with a speed they never had. I think everybody is thinking that way.
Ken Moelis