My "anecdote" isn't "pretty meaningless". The bank I worked for didn't spend hundreds of millions of pounds on a whim. They spent the money with the aim of saving more money by outsourcing technology work to India.
It failed, and it failed miserably, and my former employer learnt a very expensive lesson. My colleagues in other investment banks reported similar stories in the 00s. That's far more than one data point.
Investment banks are not like other companies. They particularly enjoy writing their own code and systems, so when they tried to outsource and discovered that they weren't correct, or on time, they brought it all back in house.
> you just need to look at the revenue of Indian outsourcing companies, it keeps going up.
That's "pretty meaningless" without any data backing it - what's driving that revenue? Does Wipro, for example, publish its revenue figures for its IT outsourcing arm, and break that down further with key indicators? I can say with some confidence, that Goldman Sachs, JP Morgan, Citigroup, won't be the "drivers" of that revenue, and that's what the original article in this thread was talking about.
You are just adding more anecdotes which I already told you is meaningless.
> That's "pretty meaningless" without any data backing it - what's driving that revenue?
All the big IT Outsourcing companies are listed on the Indian stock exchanges, you can go to their sites and read the annual reports to see what is driving that revenue. Majority of their revenue comes from the US. Also check the share price of those companies for the last 20 years, where your bank failed, other succeeded in outsourcing their operations.
Its not my analysis, those are the facts, their revenue keeps going up, their profits keep going up, their share price keeps going up, their clients keep going up. Now you do the math.
That has nothing to do with quality of work. Ok their financials are going up. Maybe they’re charging more, maybe they’ve reorg’d, maybe they laid off a ton of people, maybe they made good investments and sold. I’m not taking “they’re making more money” to mean anything other than the sole fact that a number on the balance sheet went up.
You dont have to speculate with maybe's. You need to look at the facts
All the big IT outsourcing companies are publicly listed, you can go to their website and check their annual reports to see how their revenue is going up for. You can see the number of employees keeps going up, the number of clients keeps going up. All these figures are available for 20 years now.
Your one anecdote is pretty meaningless, you just need to look at the revenue of Indian outsourcing companies, it keeps going up.