GLG Calls

GLG, or Gerson Lehrman Group, is a platform that leverages expert networks where consultants provide specialized information to clients, often in the finance or investment sectors. Here's how they discuss GLG and related experiences on the "My First Million" podcast:

1. GLG's Model and Insider Trading Concerns: GLG pays experts substantial fees for consultation calls, typically ranging from $1,000 to $3,000 per hour. Experts share insights based on their specific industry knowledge with clients, including investment banks or hedge funds. However, there are concerns and legal gray areas related to insider trading, where information from these calls might be used for investment decisions that border on or constitute insider trading 1 2.

2. Personal Experiences and Rates: Personal experiences with GLG calls were shared by Sam Parr and Shaan Puri. They described the calls as often straightforward, sometimes feeling odd about the high fees for what they perceived as basic knowledge. Shaan emphasized feeling like he's getting paid for information that isn't particularly special, highlighting the psychological aspects of charging high consultation fees 3.

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     1

     Consulting for Cash

     00:09:56
     
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     2

     Expert Networks Explored

     01:03:34
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     3

     Value of Consultation

     00:10:43
     

3. Considerations and Strategy: When participating in GLG calls, some consultants, like Shaan and Sam, share their insights but also express second thoughts about the value of the information they provide, often discussing how they set their hourly rates and how they approach these calls strategically and ethically 3.

This detailed discussion helps illuminate the dynamics and ethical considerations involved in being a part of GLG's expert network, the compensation involved, and the legality concerns surrounding the information exchanged on such platforms.