Modern consulting traces its roots to 1886

Consulting encompasses a wide range of expertise—from management and tech, to finance and PR

At their core, consultants—whether independent or part of firms—help organizations solve problems, refine processes, and achieve goals.

The Big Three consulting firms are McKinsey & Company, Boston Consulting Group, and Bain & Company

Some also refer to this group as “MBB.” As a nearly century-old company that’s well known for its prestige, McKinsey has some famous alumni—including Chelsea Clinton and Sheryl Sandberg. The other two consulting firms in the Big Three have employed some famous faces over the years, too.

The global consulting industry was worth roughly $710B in 2023

From 2017 to 2021, the consulting firm McKinsey took in $77M in consulting contracts with just the US Food and Drug Administration alone.

The American Research and Development Corporation is considered the first modern VC firm

Best known for investing in companies that wanted to utilize some of the technology developed during World War II, the ARDC’s cofounders all held prestigious positions at places like MIT and the Federal Reserve Bank of Boston.

David Ogilvy once worked for the man who created the Gallup Poll

In 1938, when Ogilvy came to the United States, he started working for George Gallup’s Audience Research Institute in New Jersey. He took his learnings with him through the rest of his career, including during World War II, when Ogilvy worked with the Intelligence Service at the British Embassy in Washington.

Early MBA curricula were influenced by a movement in ‘scientific management’

The Scientific Management movement was pioneered by Frederick Winslow Taylor in the early 1900s and posited managers should take a scientific approach to work, studying each task and system in the workplace from an objective lens. It’s still considered the backbone of modern management practices.

Computer scientists first started trying to optimize dating using computers in the 1950s

Although early dating sites like Match.com weren't launched until the 1990s, the history of dating apps dates arguably back to the mid-1900s when computer scientists used IBM computers to solve matchmaking and compatibility problems.

America's oldest companies still operating today

Did you know that the Ticonderoga pencil company dates back to 1795? Or that Baker's Chocolate started in 1765? This visualization depicts the oldest American companies that are still in operation today in a timeline—see it here.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

The origins of modern family offices date back to the 1500s

Wealth management for families with massive fortunes has evolved over the centuries, with the Rockefellers establishing the first single-family office in 1882.

Slick interfaces and bundling helped solidify Excel as the corporate planning tool

First initiated in the 1980s, the Excel spreadsheet built off predecessors like Lotus and VisiCalc, leveraging a novel graphic interface to entice new customers and packaging the program with other Microsoft Office products. Forty years later, the tool faces challenges from Google and AI, but retains devoted users.

Ray Dalio started his career as a golf caddy in Long Island

When Dalio was 12 years old, he worked as a golf caddy at the Links Golf Club. That's where he heard about the stock market for the first time and decided to invest in Northeast Airlines—the only stock he knew that was selling for less than $5 a share. Dalio ended up tripling his profit and became fascinated with the stock market—ultimately laying the foundation for his legendary career as a hedge fund manager.

Concierge medicine officially began in 1996, with the first concierge practice

MD2 International, a concierge medical office that opened in Seattle, Washington, was founded based on the idea of unrushed, no-wait-time visits and personalized care offerings with strong relationships between patients and their providers.

The history of chemistry, from alchemists to probing atoms before World War I

Those involved in the predecessor of the modern scientific discipline engaged in experimentation to develop recipes that would transform ordinary matter into gold and to create medicines, cosmetics, dyes, and alloys. Over the course of centuries, scientists identified unique elements, organized them based on their properties in the periodic table, and eventually developed the technology to discover the internal structure of atoms.

The winding journey from Standard Oil to the modern oil industry

Standard Oil’s impact on the business world can be clearly seen today in oil giants like Exxon and Chevron. But the journey from the Rockefellers’ trust to the modern firms was a windy road. After the Supreme Court ordered Standard Oil’s break up, the first step saw it separate into many state-based companies like Standard Oil of California and the Ohio Oil Company. Visualize it here.

The story of the debut 1967 Consumer Electronics Show

Read an account of the origins of the first CES in New York in 1967, a story which is surprisingly difficult to find information about.

'Most of man's problems upon this planet, in the long history of the race, have been met and solved either partially or as a whole by experiment based on common sense and carried out with courage.'

-Frances Perkins (1880-1965), first female member of US Cabinet

Amazon sold its first book on April 3, 1995

Before selling everything on the internet, Amazon started as an online bookstore. The company's first customer was a man named John Wainright, who purchased "Fluid Concepts And Creative Analogies: Computer Models Of The Fundamental Mechanisms Of Thought" by Douglas Hofstadter. There's a building named after Wainwright on Amazon's Seattle campus.

NASA was created in 1958 in the wake of the Sputnik 1 launch

The launch of Sputnik 1 in 1957 jolted US political leaders, who urgently consulted scientists and defense experts on how to respond. Concerns about Soviet technological dominance—and the promise of civilian space applications—led directly to NASA’s creation in 1958.

The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

Read about when Nasdaq partnered with the London Stock Exchange in 1992, and other key moments in Nasdaq history

The partnership became the first intercontinental linkage between capital markets, setting the stage for worldwide trading amid increasing globalization. Nasdaq separated from its parent company in 2006, becoming a fully independent licensed national securities exchange. A year later, it added the Scandinavian-based Exchange, OMX.

London bankers created the first clearinghouse to process checks in 1770

Until that time, each banker was required to bring that day's checks to every other bank for settlement. Perhaps understandably, the first place bankers opted to gather to clear and settle checks was a tavern known as the Five Bells. The innovation gave rise to what would become clearinghouses, key institutions that facilitate payments.

Apollo Global Management and Blackstone are among the world's top 20 private credit fund managers

While Blackstone is the world's largest alternative asset manager, Apollo Global Management is a large private equity firm. Apollo had $480B in private credit assets under management as of January 2025.

Henry Varnum Poor published a guide to the railroad industry in 1860

Poor's guide to the railroad industry helped investors evaluate changes and business decisions that might impact their investments. It was the first step in building the thorough datasets tracking companies and industries that Standard & Poor's is known for today.

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

Read about how one of Palantir's cofounders explains the company's founding

Palantir cofounder Joe Lonsdale described the company's driving principle as fighting terrorism in a blog post marking its IPO. Lonsdale also said Palantir's software was developed with a keen focus on privacy, despite many allegations that it enables government surveillance.

In 1974, Los Angeles’s Community Analysis Bureau built a smart city

Los Angeles utilized aerial imaging and cluster analysis to gather and interpret civic data, leveraging surveillance technologies developed by the Department of Defense during the height of the Cold War. Instead of being used for military purposes, data insights helped direct social services to high-poverty neighborhoods.

Mid-century modern graphic designers like Milton Glaser and Eric Carle found success with children's books

Glaser was famous for creating the "I Heart NY" logo, the DC Comics logo, and an iconic Bob Dylan poster for CBS Records, but he naturally transitioned to illustrating children's books like "The Smallest Elephant in the World" and "If Apples had Teeth." Carle, author of "The Very Hungry Caterpillar" and "Brown Bear, Brown Bear, What Do You See?," began his career in advertising. Scholars say mid-century modern's preference for clean lines and bold colors was a natural fit for kids' books.

Mid-century modern graphic designers, known for their bright colors and bold lines in advertising, also found success with children's books.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Legendary architect Frank Lloyd Wright designed the SC Johnson headquarters in Wisconsin, aiming to make a cathedral-like workplace

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

The history of many kitchen appliances involves unexpected discoveries and applications, including wartime radar turned hamster defroster and replacing an 'ice king' with heat-stealing boxes.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Abraham Lincoln was almost assassinated weeks before his inauguration as he traveled from Illinois to DC through Baltimore in 1861; it took two independent claims for Lincoln to be convinced the threat was real

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Budweiser stores yeast derived from the original 1800s strain in a secret bunker, which only the Head of Yeast Management can access—not even the CEO

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

A century of Billboard issues documenting the evolution of popular music.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

The concept of phantom limbs, the perception that amputated limbs are still present, dates back to a French military surgeon in the 16th century.

Explore the known asteroids, comets, and spacecraft involved in asteroid studies within our solar system with 'Eyes on Asteroids,' a 3D visualization from NASA.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

Graffiti dates back to at least ancient Pompeii, where citizens scrawled messages to one another on public walls