That’s the real issue. We’re capitalizing professional services at insane scale for little value.
Compensation isn’t in line with value, and the cartel nature of the business puts a lot of friction on the pricing.
This isn’t unique to real estate. A lot of sales guys are driving Porsches based on earnings of questionable value. The difference is your Oracle salesman doesn’t have a monopoly backed by state law on blowing hot air.
Compensation isn’t in line with value, and the cartel nature of the business puts a lot of friction on the pricing.
This isn’t unique to real estate. A lot of sales guys are driving Porsches based on earnings of questionable value. The difference is your Oracle salesman doesn’t have a monopoly backed by state law on blowing hot air.