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Keystone Strategy


At a Glance


“Brilliant and talented colleagues who genuinely inspire me.”

“Emphasis on innovative thinking.”

“Deeply interesting client projects.”


“Lack of structure due to small size.”

“Lack of formal training.”

“Resources are spread thin.”

The Buzz

“Cool, innovative.”

“Excellent. Nice people.”

“Really strong analytics.”

About Keystone Strategy

Keystone Strategy is an innovative economic, technology and strategic advisory consulting firm with locations in Boston, New York, San Francisco, and the Seattle area. The firm brings an uncommon approach to deliver transformative ideas for tech clients, global law firms, and Fortune 500 companies facing complex and often not-yet solved business challenges. Keystone brings an interdisciplinary approach (the “Triad”), leveraging the intersection of economics, technology, and business strategy.

Tech Experts

Keystone has expertise in a wide variety of fields, including competition, economics, digital transformation, operations, tax transfer, data platform management, and expert witness consulting. The firm has worked with a myriad of blue-chip clients, including Intel, Microsoft, Facebook, Amazon, and Verizon, as well as global law firms and consumer product companies. Among some of its more prominent of these brands, Keystone has worked with Coca-Cola, YETI, Marriott, and Xbox. The firm has deepened its expertise in healthcare, advising Pfizer on important aspects of the drug development process and Roche on Go To Market Strategies.

Keystone thrives on delivering transformative ideas for growth clients with work in areas such as competition, tax, digital transformation, AI/ML, IP, and new product development and innovation. The firm also has experience developing custom-designed data analysis tools led by its K.ATS and KeystoneLabs teams.

Call the Professors

As a boutique firm, Keystone embraces those with an entrepreneurial spirit—to that end, its culture rewards smart risk-taking, insight, and structured thinking. Keeping the team at the small, boutique level encourages this culture and Keystone’s nimble business model. The firm also employs the know-how from various experts from top universities, like Harvard Business School and Stanford University Graduate School of Business, when assisting their clients. The diverse perspective of these professionals and professors introduces a new dimension to what Keystone can do for the companies it works with.

The firm prides itself on its ability to nurture a culture that encourages structured, critical thought processes, and the delivery of genuine insights. A universal passion for excellence across practices guides Keystone professionals in every client engagement, and the sense of stewardship that everybody has over their culture helps to define the trajectory of the firm.

In the News

Wired: Want a More Equitable Future? Empower Citizen Developers (12/9/20)

We are thrilled to share industry-leading research from Keystone Strategy chairman, Marco Iansiti, and Microsoft CEO, Satya Nadella, on the critical role of digital transformation and the need to democratize “tech intensity”. Conducted across more than 130 leading companies, their research shows that “those with a more integrated technological and human resource architecture enjoyed more widespread innovation and outperformed the others.” Those winning companies broke down traditional barriers, innovated more, and grew faster. 

IvyExec: An Innovative Alumni Program Keeps Keystone Teams Connected (1/4/21)

Keystone, an innovative strategy and economics consulting firm, is revolutionizing the standard fare firm alumni program, imbuing it with the transformative ideas and uncommon service approach it implements in its consulting work for the world’s leading technology firms. Keystone Next utilizes the best practices of successful technology platforms and ecosystems to nurture Keystone’s community of current and former team members and foster the firm’s culture of learning and transformative ideas.  

The GCR 100: 21st Edition (12/11/20)

Keystone Strategy is honored to be recognized in the Economics category of the 21st edition of the annual Global Competition Review (GCR). The firm made its debut in the last edition of GCR100’s Economics 21 and specializes in antitrust matters in technology markets, taking on a large caseload as competition enforcers around the world hone in on the conduct of digital platforms. Keystone consults on more than just economics, offering a broad array of advisory work to high-tech firms and their critics.

Harvard Business Review: How Hospitals Are Using AI to Battle Covid-19 (4/3/20)

Keystone alum and Emergency Medicine Physician at Massachusetts General Hospital, Kelley Wittbold, collaborated with Keystone Expert and Chairman, Marco Iansiti, Keystone Senior Engagement Manager, Colleen Carroll, and Keystone Senior Associate, Lily Wolfenzon, to publish a telemedicine thought leadership piece in Harvard Business Review. The article explains why our national health system needs a rapid and large-scale adoption of digital operating models to keep up with the kind of explosive patient demand of the coronavirus.

Harvard Business Review: Competing in the Age of AI (January-February 2020)

Today markets are being reshaped by a new kind of firm—one in which artificial intelligence runs the show. This cohort includes giants like Google, Facebook, and Alibaba, and growing businesses such as Wayfair and Ocado. Every time we use their services, the same thing happens: Rather than relying on processes run by employees, the value we get is delivered by algorithms. Software is at the core of the enterprise, and humans are moved off to the side.

This model frees firms from traditional operating constraints and enables them to compete in unprecedented ways. AI-driven processes can be scaled up very rapidly, allow for greater scope because they can be connected to many kinds of businesses, and offer very powerful opportunities for learning and improvement. And while the value of scale eventually begins to level off in traditional models, in AI-based ones, it never stops climbing. All of that allows AI-driven firms to quickly overtake traditional ones.

As AI models blur the lines between industries, strategies are relying less on specialized expertise and differentiation based on cost, quality, and branding, and more on business network position, unique data, and the deployment of sophisticated analytics.

Ivy Exec: 4 companies committed to Diversity & Inclusion

At Keystone Strategy, the mission is Transformative Ideas, but the core of culture is the recognition that these ideas are more prevalent and possible when leveraging diverse teams. Over the last five years, Keystone has set out to build diverse teams at every level of the firm through recruiting, internal mentorship programs, and development plans. The impact on the business has been outsized and today Keystone stands ahead of its competitors in terms of innovation and creativity. Keystone believes that creating a work environment that allows them to attract, retain, and fully engage diverse talent leads to enhanced innovation, across-the-board collaboration, and the ability to deliver transformative ideas to their clients.

Keystone Strategy

150 Spear Street
Floor 17
San Francisco, CA 94105
Phone: 3 (877) 419-2623

Firm Stats

Employer Type: Private
Chairman and Co-Founder: Marco Iansiti
CEO and Co-Founder: Greg Richards
2020 Employees (All Locations): 115

Major Office Locations

Boston, MA
New York, NY
San Francisco, CA (HQ)
Seattle, WA

Major Departments & Practices

Key Practice Areas include:

Economic Advisory

Technology Advisory/Advanced Technology Services Team (K.ATS)

Global Strategic Advisory


Associated Practices include:

AI/Algorithmic Fairness

Digital Health

Digital Transformation

Information Strategy & Risk

General Litigation

Health Tech


Transfer Pricing