Professional services industries like finance, consulting, and legal services are, by definition, meta-industries. That is, they serve to help large companies raise money, buy and sell each other, reorganize, implement new systems, conduct complex transactions, and so forth.

In this quote, Andrew Yang explains the role of professional services industries such as finance, consulting, and legal services, describing them as meta-industries. He uses this term to convey that these industries do not directly produce goods or services but instead support other industries by providing critical services that help businesses operate more effectively. Meta-industries help companies with a wide range of activities, such as raising money, buying and selling businesses, and reorganizing their operations.

Yang highlights the importance of these industries in facilitating complex transactions and driving the growth of large companies. Finance provides the capital necessary for business expansion, consulting helps firms improve efficiency and strategy, and legal services ensure that all activities comply with relevant laws and regulations. These professional services enable companies to navigate complex market environments, implement new systems, and achieve their objectives in a competitive global economy.

The idea of meta-industries is significant because it illustrates how certain sectors of the economy function as enablers for other industries, rather than directly producing tangible goods. These services add value to the core operations of businesses and support the broader economic infrastructure by helping businesses function smoothly and grow. The term also points to the increasing role of specialized expertise in modern economies, where businesses rely on external knowledge and advice to stay competitive.

Ultimately, Yang’s quote underscores the interconnectedness of industries and the crucial role that professional services play in maintaining the stability and growth of businesses. By defining these sectors as meta-industries, he draws attention to their foundational importance in the business ecosystem, supporting everything from financial transactions to organizational changes.