I think people sense that - that there is something not right abo... by Ken Moelis

I think people sense that - that there is something not right about that equation [in the USA].

Ken Moelis

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Categorized in : Thinking People Usa

Income is there to create quality of life, but you can share your car and get where you want to go, and you can travel the world by couch surfing.

surfing car quality

I think [millenials] are taking advantage of deflationary forces to improve their life while not maybe having to chase the nominal money that was needed to buy a whole car, a whole house, a whole couch.

car house thinking

It is a very interesting world. I'm excited. It is much more optimistic than people think, and there is going to be huge job creation from all these things, and there are going to be huge life improvements.

optimistic jobs thinking

Remember, 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.

horse civilization years

I would point out is that most of the change over the past 5,000 years has been arithmetic, and it now logarithmic. Digitization, the whole Moore's law thing where it doubles every 18 months - that is a speed that is faster than most people are used to.

law past years

We're a small part of this ecosystem. When we go to a school and talk about investment banking, they are these monster financial conglomerates, and so we end up in the same pot. That is still an issue for us.

issues ecosystems school

The leverage Wall Street has to change the world is greater than technology. At a very young age, you're in the room with CEOs, making critical decisions. It should be exciting. It is exciting.

critical-decisions wall technology

By the way, I'm not sure the managing director who was 50 in 2005 understood that the job had changed - that when he or she came out of school in 1986, that it was different. How would they know? We've got to admit that.

jobs directors school

The reason you're put in the CEO chair is because a company is facing these issues and you've been designated the person best to organize around them. I think that people are pretty energized around trying to figure this out.

issues people thinking

Not everybody has experience in drilling for oil in the Permian Basin, but the same thing is happening in every industry everywhere in some manner.

drilling happenings oil

We pick on retail, I think, because each individual has experience with retail. It is easy to talk about.

retail easy thinking

I asked one retailer, I said, "Let me ask you, are you going to raise prices next year?" They looked at me and said, "Not only are we not going to raise prices, we're going to have to lower prices, increase the quality of the goods, and turn the inventory quicker."

inventory quality years

As a whole, [changing] is deflation force that is being underestimated. Whether each person thinks of it in the context of the word deflation ... what they think of it is, "Hard to hold my margin. I'm under margin pressure. I'm under sales pressure. I'm under cost pressure."

cost pressure thinking

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.

different trying world

In most industries, technological change is happening at a rapid... by Ken Moelis

In most industries, technological change is happening at a rapid rate.

technological-change rate rapids

Whatever it is, in a 1% GDP world, I think people feel like there are other things they have to do other than just organic growth.

gdp people thinking

Do people have confidence? I think the real confidence you need is the confidence in your outlook, and I think people are pretty confident it is a low-growth world.

real people thinking

The only thing I find executives down about is the regulatory env... by Ken Moelis

The only thing I find executives down about is the regulatory environment.

executives environment

I worked at Drexel Burnham and DLJ, and then I worked at a financial conglomerate that had 60,000 people - there was a difference. But we went to the schools and said it's the same. The experience I had in 1992 is exactly what you're going to get in 2002.

differences people school

I don't want to pick on Deutsche Bank, but I think the world of the regulated financial conglomerate, it is a strange thing. There is nothing in common between writing checks and running branch offices, issuing credit cards - those are good businesses, but they really have zero in common with M&A advice. They're a different customer.

zero writing running