Cutting the wrong things

Some good stuff in here"We're maintaining institutional complexity by transferring its cost downwards and calling it efficiency.""The problem is that cultural risk and organisational waste were being subsidised by the same cheap money, and we learned to treat them as the same kind of inefficiency. They aren't, and that's what we need to correct.The mistake of the post-QE era has been cutting the cultural risk while leaving too much of the organisational waste intact. We should put way more effort into eliminating the institutional redundancy surrounding the making of things. That doesn’t mean penny-pinching on cab accounts, more redundancies, or embracing half-baked AI pilots. It means leadership pausing for just one minute and actually being thoughtful and pointed about how and where they allocate their remaining staff’s effort, so 10 people aren't on a Zoom picking apart that £10k music video which will capture 50,000 views when the cumulative cost of everyone micromanaging it into…