The Platform Launch is the New Absolution
I have a confession to make, and it is the kind that usually only comes out after the third drink or during a deposition. Years ago, while I was still building my reputation in the world of corporate restructuring, I advised a mid-sized lender to execute a “total digital transformation.” I used the words “seamless integration” and “future-proof architecture” with the practiced ease of a man who didn’t have to live with the consequences. I pushed them to replace their entire core ledger with a shiny, venture-backed platform because I wanted the prestige of being the architect of a “Modernization Event.”
The truth was, their existing system wasn’t broken. It was just dusty. It had a few calcified logic paths and about 400 lines of messy code that handled odd-day interest. If I had been honest, I would have told them to spend cleaning their data and hiring a specialist to patch the servicing engine. But there is no glory in a patch. You don’t get invited to speak at conferences for “making an existing system honest.”
Burned on a migration that took longer than promised.
You get promoted for launching something that requires a ribbon-cutting ceremony. I watched that company burn $4.8 million on a migration that took longer than