It smells like late 1999 - early 2000 on the eve of the dotcom bubble implosion... https://ibb.co/dEe8a0
Any consequences for companies like SLB that invested hundreds of millions in "Digital transformation", to the point they don't have any other strategy?
As history tends to repeat itself, we should expect slb to acquire some tech company for a sizable amount of $.
Just as the Sema disaster, the acquisition of BH's share of WG and the June 2014 Investor conference (and associated stock buyback plan) it will mark the beginning of the crisis.
Slb is the canary in the coal mine of speculative bubbles. When we buy, time to flee.
But , big data is the future. Tech! is the future. The millineals said so. What will happen to the millennials.
"Do Less with Less, and get Less"
Gafam marketing strategy is pure genius. They give a lot away "for free": Tensorflow, Kubernetes, Angularjs, Golang, you name it, all while maximizing both specialized and mass media coverage. Then they collect the benefits on GCP, AWS, Azure and the like.
Combine all that free stuff and the fear to miss out and that's just too appealing for management to think rationally. It doesn't matter if nobody ever made a dime playing Go, everybody wants to build the next Alphago. Nobody will remember that most recent disruptive progresses are limited to image/pattern recognition - talking instead of general AI, superintelligence and technological singularity.
Calm down guys: computers have super-human arithmetic processing capabilities since the 50s at least. It used to be called a calculator. If computers didn't have super-human capabilities, we wouldn't be using them at all. Period.
As for customer cloud, the canonical example of a success story is Office 365. Alas, it gets about 50% negative reviews on Amazon (considering all versions and supports). A commercial success, not a popular success.
The truth is: so far, the billions $ pouring every year into "digital technologies" have been benefiting technology providers much more than technology clients. Sooner or later, clients will figure it out.
Looking at the Gafam stocks, the Digital BS may actually have peaked this summer. As usual, SLB is jumping on the IT bandwagon just when the train is coming to a stop.
And very true. Mfg/pro is close to 35 years old. Slb acquired it through Camco. Otherwise they'ld run EMS like operations... on sticky notes and colorful Excel sheets. SLB spent over $30M on a new version but eventually pulled the plug. The guy in charge over this mess was made pres of two segments which he screwed up even more. Now he wants to get into midstream because he read one article on oil trading... This is no joke!
No operator is ever going to give up big data to an ofs company. That train has left. Pathetic attempt by PK and Co again to push this through wellheads and valves... It's done already much cheaper and faster. Nobody needs slb IT but slb itself...
The main problem is the opposite. The risk is to consider slb as an IT company. To believe that IT is what will make the main difference in our service offering. Remember the SEMA disaster. The real added value is elsewhere.
As of today, we don't have any long term plans apart from the "Digital Transformation" and "Platforms 4.0". And these initiatives come from the Gartner's hype cycle, not from a sound analysis of our clients needs and of our competitors strengths and weaknesses. We should be thinking about services and solutions first, before we pick the best technology to achieve them.
Instead, we are trying to sell the technology "for itself". A recipe for failure.
Was genuinely appalled to see SLB geocircus using DOS still... laughable if it wasn't so serious
Digital revolution? Y'all still using DOS based systems and the ancient MGF Pro. The digital age swept by Schlumberger.
It’s not “hundreds of millions”, it is “billions”.
What you mean by " invest to the point no other strategy". It sound like if it dont boom, slb will file bankrupt