20 Episode results for "Scott Galloway"

Hot Take: Scott Galloway on Bezos vs. AMI [BOOM!]

Pivot with Kara Swisher and Scott Galloway

04:52 min | 2 years ago

Hot Take: Scott Galloway on Bezos vs. AMI [BOOM!]

"This is Scott Galloway from the vox media podcast network with a special Tibbett report. Where's care Swisher? I'm here solo care is likely getting a pedicure with Senator Schumer or having her feet rubbed by Evan Spiegel. But I digress. The biggest news story likely two thousand nineteen unfolding and we wanted to share some reactions and some predictions. We have the wealthiest man in the world a media company, potentially police and Saudis and dick pics. The ultimate analogous chemistry for a big media story and big it is so winners and losers winners. Mr. bazo, America loves an individual who turns around when he or she is being bullied and kicks the bully in nuts. And that's what Mr. basis is done. He is turned chicken shed into chicken salad. His reputation is strong as it was thirty days ago, but it's a lot stronger than it was twenty four hours ago. Oh, and to be fair, he pre- pretty dramatic leadership here. And that is putting a lot of humiliation impersonal privacy at risk to say, no, I'm not going to be a party to this. The worst business decision over the last twelve months until about twenty four hours ago was the wealthiest man in the world deciding to send out pictures of his junk, but that's been bested the dumb and dumber businesses here. The dumber decision. The worst business decision of the last twelve months is a media company deciding to try and blackmail, the wealthiest man in the world via Email, so the biggest loser hands down is AM. I who as of last night is out of business. They just don't know it yet. There are Jaguars in the reeds Lang and wait to strike in Peter Thiel was that billionaire this is teal versus Gaca all over again with a similar outcome except and my hasn't poked the bear. They have poked the mega Don the. Most creative aggressive mine and the most resource individual in the history of business is no longer focused on disrupting books. No longer focus on disrupting the cloud, but it's focused on destruction of AM. I they have fucked with a wrong own brea. Big winner. No one's talking about medium. Mr. Biswas didn't post a Facebook. He didn't go on Jimmy Kimmel. He posted to medium. Evan Williams becomes that. Rare breed of much manure who has birth not one. But now two unicorns as of yesterday about two percent of the American public ever heard of medium. It's now likely thirty or forty another loser police, and this is pure speculation. But a tell in law enforcement when someone is going forty five in the fast lane is they are hiding something. And they get pulled over poachers has been eerily quiet about this whole situation since January fourth why he's guilty. He knows something. He and M I were clearly collaborating. And we have not seen that car turned over here. Look for pota- similar to Facebook that every time we think something is bad. It ends up. Not being as bad as we thought. But worse Saudis Podesta's and the outing of these photos. The three are connected and finally what good can come from this. Jeff Bezos, his terrible judgment around. This is meaningful. But what is profound is the public health crisis? We are facing as the digitisation of mistakes begins to wreak havoc in our society. Specifically as relates to our young people, we have a fifty four year old man who made a terrible mistake. But we have young people who every day make terrible mistakes with their phones. And while Mr. businesses likely law sleep is likely gonna lose shareholder value. He deep down knows he is going to be fine. But does the fifteen of the sixteen year old boy or girl who's made a mistake with her phone do they know they're going to be all right or? Are they lying and silence is the mental anguish they enduring public health risk. It is no accident. That teen depression is escalating it's no accident that suicide rates among young girls is skyrocketing. We need to have a conversation around how we developed immunities against the digitisation of our mistakes. There are people suffering out there. It's important the conversations take place in our schools in our households. I know personally, I'm going to sit down my eleven year old boy tonight and not only give them a stern warning about these technologies, which I think a lot of institutions and people are doing, but also to reassure him that if and when he ever makes mistake that we are here for him, and he should never suffer alone. And in the dark. This is Scott Galloway in the box media podcast.

Jaguars Scott Galloway Facebook vox media Jimmy Kimmel Evan Spiegel Senator Schumer Swisher Mr. Biswas Mr. bazo Jeff Bezos Evan Williams Peter Thiel reeds Lang America Podesta twenty four hours
O'Reilly Update Morning Edition, February 23, 2021

Bill O’Reilly’s No Spin News and Analysis

02:50 min | Last month

O'Reilly Update Morning Edition, February 23, 2021

"O'reilly here and a warming up on the nra. A dot net studios in new york standby for the o'reilly update morning edition on this tuesday. Let me make a loud and clear announcement. Americans who participate in the cancel. Culture are not only on american. They are bad people due process deniers. You know there's an old saying that the punishment should fit the crime now. We have a vigilante social media convicting people on headlines on rumors on accusations and we have venal corporations firing people under the same terms. This is anything but just and this is sweeping the country. And if you stand up against it you yourself might be cancelled in hollywood in politics. In television in all walks of life. People are being hurt on rumor on accusation. And the accusers. No it yeah you can bring lawsuits. It costs hundreds of thousands of dollars to do that. And you may not win so we are living in an age of cancel culture. It is dramatically hurting the usa. And the people who do that are bad people now this. You're about to hear a preview of the jordan. Harbinger show with professor scott galloway. Who's here to give you uncomfortable truths on life strategies for success and happiness. Most of the people young people. I deal with envision themselves in the top economic class or at least aspired to it to basic rules. Get certified and get your job as a young person is not to follow. Your passion is to find out what you're good at and then invest the time the grit and the energy to become great at the accoutrements. Follow being great at something status. Respect your colleagues money access to better healthcare the ability to take care of your parents and your kids you will become passionate about whatever it is that lets you do. Those things. scott has a bunch of great advice on the formula for a life. Well lived checkout episode. Two zero four with scott galloway on the jordan harbinger show. That is the morning rally. Update more analysis later on.

reilly nra professor scott galloway new york hollywood jordan usa scott galloway scott
Is this the year big tech gets regulated? (Probably not.)

Pivot with Kara Swisher and Scott Galloway

30:41 min | 2 years ago

Is this the year big tech gets regulated? (Probably not.)

"I everyone this is pivot from the vox media podcast network. I'm CARA Swisher. And I'm Scott Galloway coming to from our nation's capital today care, are you what were you doing there? I had breakfast. With about a dozen congressmen congresswomen and a few senators, and then I met with another Senator to talk about big tack. Let's hear about what happened. What why were they all together for breakfast? I am just was in Washington. Now, I'm in New York City, but what was the breakfast about? So there's a breakfast that's hosted by the Aspen institute. And it's every where we Thursday morning for the last I guess thirty years speaker on a topic of interest, and it's you speak for fifteen minutes. And then they throw questions out you really nice environment. And this was all about big. And what was your message? What was your message to these congress people will, you know, my message. My message is that these organizations have become invasive species, they are they are sit lords who started up nine and then turn to the dark side of the force. And unless we arm we arm you are representatives with inside data and the backbone wherewithal to break up what have become invasive species that we're going to continue to kill innovation our country. Our tax base is gonna run the middle class is going to continue to experience lot wages that that the government is here to serve the the governed not the governor's these companies have become the governor's floor. That's really interesting. I just had Shoshana Zubov on talking about this. He has a book called surveillance capitalism where she has exactly the same messages. The the hijacking of everything by these companies, and and for more dire even more dire predictions from her in terms of what's going to happen. Do they hear you do they do they because you know, I've been banging this drum for a while too. So do they hear hear your messaging cursor, get your take my my take? And I'm new to Washington I've been here ten times in my life and five times in the last month. They hear you the greed they nod their head, and they are totally befuddled as to what to do about it. Because I, you know, the scary thing is I think they're outgunned wonder outcome by complexity. These are difficult problems understand only seven percent of our electorate has a background technology engineering. So they're just sort of their intimidated by the subject material into there's Amazon as eighty eight full time lobbyists in DC, and you've written about this the one area of each of the big tech organization spending that's increase faster than anything. Increase faster than our D. Hiring is lobbying. So when the the legislation that banned sex trafficking and puts platforms like back page out of business and gets a ninety seven to one vote in favour, you think well, that's bipartisan action work. There's now an organization challenging that. And trying to take it to the supreme court worried that any any in habituation of what could do could be bad for them. And that organization is a front for Google. So even when it comes to sex trafficking. Google is willing to spend a lot of money to fight it. It's the points. It's really astonishing. How these people would change their their love of money and power is so profound and they pretend they don't have it. It's really quite best thing. And they do think it's being better for the world. They think they're being better for the world. And in fact, they're rolling democracy in all parts of it at a at a quantum leap vast. Right. I'm so hopped up right now after talking to Sean zoo, because I think she's a longtime studier of these issues, and you know, you start to see it. And we're we sort of our captive of it and are giving over information in ways that we don't we don't even realize and for free stuff for sure. But it's it's also the people I think at their heart people do think about this. It's just not a sexy political campaign topic. You can't say, hey, I'm going to save your data for you like the healthcare is the things that people care about and things like that. But this is a lot of ways more damaging to our from the bottom that we don't have control, and we get manipulated and from the top that we don't were made stupid by this. But if. Not smart enough to participate were were on the outside of it. So it's a really difficult thing to sell. I think from these political point of view, but you brought a key point and wired some fantastic reporting on this. And that is the traditional argument against the break-up of these guys is that because anti-trust is based on consumer harm in the primary metric for determining consumer harm or lack thereof is price and they say well Amazon's brought down prices and Google and Facebook free for their users. But they're looking out at the wrong way. Because think about think about the Facebook apps have they improved dramatically changed from a consumer standpoint over the last two or three years. I would argue not a heck of a lot. But think about the price we're starting to pay around these things think about the price of privacy. Think about the price. We're paying his parents with teen depression think about the price we're paying citizens that are elections have potentially been contaminate think about the increase price where paying not only violation of our privacy. But the fact that fear anxiety that this these platforms might be weaponized. I would argue in the argument I made to our representatives this morning is that the price of these organizations the price of this product has skyrocketed in the reason, the prices the reason the prices of skyrocketed is because they can increase these prices because the monopolies we just don't see it as pricing in the traditional sense. And also that the end-consumer for Google and Facebook is PNG and Ford and look at the pricing by keywords or things on Facebook. So they I find that our elected representatives and I'm naive. I'm not jaded yet. I find their Ernest smart thoughtful people who want to do the right thing. And I just worry care. I worry that they're outgun. Right. I think, but you know, we push back cigarette manufacturer when they were ascendant, or, you know, chemical, you know, they come back, of course, in the Trump administration. They're rolling back all kinds of pollution standards and stuff, but they always come back forces have retrograde in this country are so strong. And so you're tasting that we can't stop them. But I do think, you know, it's really interesting that both. Senator klobuchar Senator warn have when they announced their candidacies president whether they win or not anti-trust was one of them. And a lot of them are hostile, especially the democrat candidates and Trump is hostile in a weird way to tech, but not in any effective way. You just sort of rails on Twitter places, but all of them have some questions about tech for sure I don't know if they'll do anything about it. But they certainly are saying especially Clova char in her announcement this weekend. What did you think of her announcement? I thought it was interesting from an imagery standpoint her in the snow. I love the snow thought it was cool that she's she's interesting. I mean, it was all like, of course, they're all these interesting stories all of a sudden pump the, you know, coffee Cup throwing. But whatever, you know, what the worst flexner speech, though, say China wral everybody for all the Americans liberty for all for all the people that want their children to have a better life for all the seniors one access to more Florida prescription Medicare. God that was the worst flex in the world. Yeah. Yeah. Well, he knows she's an interesting candidate. I think she's she's a one of the worst stories came out with that Republicans lover like, no, no that's bad for the, you know, the cost a wing of the Democratic Party. So that was an interesting that'll be an interesting fight between the left and the middle. The left dish the left side in the in the sort of middle side of Democratic Party. But I think they all do stand like a Cossio and others do are sort of antitax. A really interesting way do are bringing up very much needed criticisms and even Trump does. But he doesn't there's no follow through on anything. He has his lizard sense of the problem. I think in many ways, so we'll see we'll see bipartisanship. So you did a bonus hot take on this. But I think we're done with Basil's in his trying to I'm just trying to get your attention. I'm just flirting without you're trying to get your attention Keira as Carly Simon said, don't, you know, I'm beautiful the strangers. Don't you know? Otis Kara where we with basis in the peanuts situation. I think we'll see what about how it happens where it goes. Right. Okay. So to be this is this stuff. Well, first off I think that we need to acknowledge that the problem isn't Jeff Beza sending out his jock. It's that the rest of us in technology have not been sending out pictures of our junk. So I just want to warn you now my Christmas card. Mike Christmas car care is from big EDNA twins. It's coming your way. No problem. That's the problem. Sexist pig. We'll have your. But what we're thinking about this thing? But whether he got it whether it was a brother-in-law, whether it was this. It's still was good that he brought up. Obviously, it was a fantastic skit on SNL with meet the press and of fake the Chuck Todd and the discussing the penis was very very funny. I know normally high-minded journalist wouldn't talk about something like this. But it doesn't the richest man in America and the president of the United States. So Jeff Basil's penis. Gonna look like I'm going to jump right in check. Now, when I hear billionaires painless, I immediately think small potatoes, you know, it's like they say, it's small and looks funny. You'd better have the money, Honey. I find this whole thing. Just a Uber fascinating on a bunch of levels. And I think there's two interesting thing. So. Care named the most famous female CEO who comes to mind shero samba shell. Okay, show CEO CEO. She's not see probably not a lot of them. Right. Ginny. Ramadi I guess not famous, but ingenuity. Okay. Let's let's take those two I won't even use their name. What if one of these individuals had been sending pictures of their genitalia out to their boyfriend with four kids and married with that without women have survived that which? Kidding? She'd be in the in the stock. She didn't stock in the main square and people would be throwing garbage. I it would be very different situation. So there there's not sexism and our society. Catching do you like to know about how gay people have been midst seven thousand seven seven thousand years later, by the way, FOX going after you, and I've decided I'm no longer going on Tucker Tucker. You know, why Keira 'cause I decided I'm of Keira they call you a hand. I'm of CARA, I am with you. I will jump in front of that plastic bullet Tucker weapon. I am willing. No, Tucker, Carlson's producer, do not call me. I am Karen twit. Here's isn't he. He's ridiculous factual. It would be. All right. You know what I mean? Like, you could say a lot of things, but it's all that night. Not factual the second part is the most elite. I just he's just ridiculous clown. He's just ridiculous. I knew I'd get you going cloud. Awful awful. I you know, I take a little bit right near in Washington. And take pictures thing. I'm in the building Tucker around. I'm here. I think he is crush on me. That's what I think I've decided, okay. So speaking of Dicks back, so. I q two. I don't wanna talk about each interesting. Is it going to happen? Interesting. Are they going to speak get it up? Are they gonna get that headquarters? On this the other thing really interesting too. I promise get there at the other thing. That's really interesting. He said the have only a few minutes, you said that owning the Washington Post is a complex fire. It's not a complex fire. It's a safe as ASA fire because thing I've noticed about this is that basis is considered or a responsible steward for the Washington Post. There is a reservoir goodwill towards him from journalists and every journalist has sided with him. They see him as a hero. And I I can't I can't help. But feel like is this guy really a hero. I appreciate the fact he's kicking back. He's like the guy who stole a car, and then the DA tried to get him to cop to murder deal in in in in the criminal said, you know, what I'm not gonna take this abuse. And now this person as a hero. But let's remember this guy really screwed up journalist. He's a mixed bag with journalist. You can be that you can do that. That's okay. We don't I don't love him for the h Duceppe. I don't love them for the the the. The information grab don't there's there's you guys are slobbering over Jeff Bezos right now. No. No, the gimmes here thing, I'm totally on the Cossio side on this one. Oh, okay. So you want to clear arguments are like and dislike someone at the same time. You go first what do you think it's going to? I think it's in danger. I think it's possibly in danger unless Amazon Gibbs, and I don't Amazon like to give they don't have to give the Staten island's offering up satin island and stuff like that. What do you think? So I I don't know because I don't feel like I'm in touch with New York politics. I think Andrew Cuomo is the worst poker player ever. I generally believe that we forget these companies are run by humans, the they're they're al-gharib drive them. But the run by humans, and I believe the Jeff Bezos said fifty five years old one hundred fifty billion dollars wants to be within a helicopter ride of the Disneyland for a billionaire who's fifty five and that is New York City. And so I think he's going to figure out a way to maintain momentum. This midlife crisis by having HQ to A B somewhere within a helicopter ride, or you know, a towncar ride of Manhattan. Hoboken hobos and sat Nyland he could do he wants to be. It's like if I told my eight year old we can live anywhere. He would say, oh, great. We can live anywhere as long as it's within writing distance or a bike ride of Universal Studios. She's obsessed with universal. I think fifty five year old single man wants to be within spitting distance Manhattan. So I think they're going to figure it out. All right. Okay. He seems more like a Brooklyn character to me. Anyway, when we get back. We're going to talk more about these things when we get back. We're gonna take a quick break and be talking about fails and winds and predictions. Hey, pivot listeners wanna tell you about another tech podcast that we think you're gonna love it's called the verge cast. That's right verge cast in its place weekly podcast that covers everything happening in consumer tack and gadgets. So, you know, us we love talking about apple Amazon Facebook, Google, these guys are exactly the same. As a scary thought. And they even get to talk about the people who are responsible for making some of the latest products and services that we all use lash are addicted to slash our hopelessly in love with on Tuesdays. The versus editor and chief Neil Patel sits down with some of the most prominent figures and tack and online culture, including Google's VP of hardware, design Ivy. Ross stubs president sa- kennison Cassidy and by the nose to survey a border. There's an incredibly impressive woman and go pro CO, Nick Woodman and on Fridays. Neal is join. Debone Paul Miller and a rotating cast verge staffers to unpack the most important talked about stories of the week. There's even a segment called this week and e- lawn that tries to decipher well, whatever the heck is going on with Elon Musk. So what are you waiting for listening? Subscribe to the verge Kass on apple podcasts or wherever you're listening. Okay. We're back with Scott gal down in DC lobbying, the various representatives, and I'm in New York City wins and fails this week. We're here to do that. I would say I'm gonna go first. 'cause my I I think the win was the hashtag Caradoc and yet it was also fail. So we do a rundown of what I learned from him, which was very little. But it was really interesting. And I don't know if you paid attention to it but much of the internet did. And it was it was it was a goat rodeo. It was a cluster. Fuck. It was fascinating. So tell me what you think of carriage as you call it a win loss win lose. Yeah. So yeah, I don't I think I one I like, I, you know, I don't know. There was some things he said there were a lot of insights when I kept saying be specific. And he wasn't I think people understood the difficulties of our job. And and I think he did say a few things, including think something a lot of people were sort of disturbed by which was picking Elon Musk is his favorite Twitter personality, which I think was an interest. Choice. But other people felt it was exactly indicative of the problems because such EON has a complex history on Twitter. Both batting good. So what do you think what I'd love to know your thoughts. So you call it. A win lose your half, right? I thought it was awful. And I said it was like watching C span and Chinese. It was boring. Confusing. I just didn't I found the whole thing. Ridiculous. I tuned in because I like you, and I was interested to see what what he might say. But he the problem is these people realize that there's no defense for what they're doing. So they employ communications tactics like all testify in front of congress as long as I can play beat the clock and say of much gibberish for five minutes, and then going to the next, and he did quite frankly, I think he played us, and I'll say us because when you give him questions via Twitter, he can say bullshit, like our policy on hate speech has evolved. What the what the fuck is? That mean? Yes. And you try people and he couldn't be because he wasn't sitting across best for you. So into me is it is obscene that an individual who has is responsible for the algorithms that create some of the most important influential media in the. World issued scare to the media and won't come on your show. So jack. Yeah, I know eight does not get a pass come on the show. He said he he has said he wants to branch out. You are the branch come on the show. So I can't I can't hijack him for goodness sake. I can't. But I the thing is I do I do. I don't totally think there was one people saw the lack of transparency one two. They saw a lot of people. Understood the was talked about a lot. How did that some people? Very funny versions of it feel salmon had a really funny tweet and stuff like that. But you're right. They do they up you skate, and they find ways to get around it. And I think the medium one of the things that was very indicative was that the of Twitter didn't know how to use Twitter or couldn't use Twitter or couldn't it wasn't able to have a conversation. Their whole focus is conversations. And so I think that was I think that's to me, for example in the Mark Zuckerberg podcast when he couldn't answer the question of how he felt about the deaths in Myanmar India in. Indicated something very big moment for people to go. He can't articulate it. And I think in those white space moments. You get just as much information about these people and little tiny bits of it. And I get that. It's it's I get their obvious gating get they're trying to run away from real encounters with real people and real journalists. But they do they don't win. I don't think that was a win for him at all the, you know, because I don't reminiscent of shirl Sambre's talk Adeel DNS by the end of it. Everybody was bored yet angry, and it just didn't do he didn't do himself any favors. So if you wanna be if you want to see of a large media company, and you wanna pretend to take responsibility than you know, than than than stiffen up put on a tie bring the nose ring and the beard down and talk to Keira a meat of CARA. Meet of Keira can beat her handmade fewer. There are fewer and fewer people want to meet with me. But that's okay. I don't care. I still have some power. So, but I think it's it is interesting. You know, we have done a lot of interviews, and he does show up compared to many people and actually one of the things the only thing that was relatively. He's not easily offended a lot of these other people have to deal with their offense at my main questions, and he is not someone who gets offended, and that's a pleasure have to say compared to other people, you know, he's a professional in that manner. I I listen, it's just a small I think he's actually offended. I just think he has a lot of talks and you can't register his emotions as well. Can't say you couldn't tell the isn't. Moving onto another fail. Esquire magazine. Cover story performing the white American boy at the age in the age of Trump during black history month, I had a little fee tweets about this any thoughts. You know squire? Let's go grab a high ball of Angie Dickinson after the Johnny show. It's why do we care? I like, I think escorts done some good work. I actually liked the people there. I think they've done an amazing job staying relevant. But it's literally like let's go back Cadillac. I mean, I love I got I love escort. Because I like the old school stuff. But why why does care Swisher care what escort on its cover because it's ridiculous. They're just like what I didn't. Like, I don't like is like how they are. Like, oh my God. We're being one of the editors DM's was he d he publicly did a DM which is like shows. Exactly. How much they love. You know? You're right, Angie. Dickinson is right. What is this internet thing? And it just was like this typical like they just knew like ten you just like have some awareness of the modern age. Just tiny bit maybe start with a kid on the cover of the verse one like or whatever just something different in. They just they wanted to be controversial. And then they didn't want the controversy, which is irritating. If you're going to go out there, you know, all these whining journalists about how they're attacked. I'm just like, please. Like, I have to deal with Tucker Carlson for fuck sake. Like just suck it up like suck up the the the criticism in and expect it when you do something like that. That's my I think I have more empathy for that kind of toned up. Stupidity that constantly emerges from white male heterosex-, cheap and mind CARA, and I hope this makes me more patient with me when I first moved to Laguna before my parents got divorced. Hold me. But anyways before they split up. We got the sinkhole cable TV, and you know, what I watched four times a day two hours a day for eight-year-old developing male mine literally I dreamed, gene. That's what I was raised on. Yes. Master Jeanie gets here bottle. So I deserve some forgiveness. I'm come a long way people come get nine. I had to have semi sensitivity. Training was the Partridge family. All right, whatever, whatever, you know. I had a long discussion about Ben Shapiro with my thirteen year old which was a nightmare of as proportions. Like, I'm just saying this stuff works online this like sort of bullshit works online. And it just is it's exhausting. We've gotta go because we have very limited tomorrow. I didn't get to my Windsor my predictions. I'm going to do. What is your wins varies win? I got scripted defining air of our of this age or the defining our form is television and a TV show that I just absolutely doors modern family, and in the midst of all this about Amazon announced they're going to have their final season next year. And I watch I'm watching all eleven seasons with my two boys, and it makes us all feel until closer to family. I think the amount of creativity writing great acting is just wonderful, and I would like to play a clip. I don't know. I had the I had the show runner creator. Steve Levitan, code genius. But there's one there's one to play. In its shape. Richard who has plays who who who is played by Ed O'Neill. He's the paycheck of the family and the episode is about being wearing your emotions on your sleeves or keeping your emotions bottled up and in this scene missing. He's talking about when his father passed away feelings. I mean, cried as we believe that the guy was my whole world. It's here. Everybody looking at me. Like like, I didn't love him. He knew. No, right. Of course did. From a bit felt good. Not. I know they just want therapy. All right, Scott. What did you get from that? You know that show at at at our age care. You know, what I want for media? I wanna feel something in modern family makes me feel something every week. Okay. Well, that's a media supposed to do. And when it's good. I thought it was supposed to make think wanted to feel I done thinking I went and saw command. And it didn't make me feel anything except that guy was a lot of movie. I had to say I did get my whatever twenty nine dollars worth in terms of stuff. It was big good luck. There was a lot going on there. But you're right. You do wanna feel something you do you know like how you feel watching panther? Whenever it's done. Really? Well, it really media's wonderful most of the time it makes people sick these days. Unfortunately, predictions predictions. Okay. Shannon. He does not wait. Let me just tell you. He does. Hi, I'm so scared berry Diller. In the in the river here in New York. Some any as lots of things to say, he's very love intervene. Very diller. That'll be a good one. So okay. My prediction. I'm in DC after you, if he's if you're no, no, no, no. I was literally just thinking say nothing about me that guy scares the shutout good. So since please beside you'll be dead. If we don't hurry. Okay. So in the next thirty to sixty days, a new candidate for president on the democrat side announces and becomes the front runner or maybe the number two, and it somebody the ninety five percent of the American public has never heard of who. And what is the momma who is close? It's Senator Bennet from Colorado. Oh, I just had lunch with him. Yes. He's fascinated. Not lunch with coffee. Yes. He's really interesting. That's a really interesting, man. He's very egghead though. I like him. I like his leg had moved his character over charisma Sentras candidate. That's not a billionaire Colorado's the most likeable state in the world. This is a guy who is genuinely concerned with the middle class. He's an odd person married once. Wonderful families school superintendent wants to double down on capitalism in the most important criteria. He checks the box all of us. Democrats are going to come to the conclusion that there's only one criteria and had his who can be Trump and seventy percent taxes and Medicare for all away to re-elect Trump. This guy's a capitalist. He's got business experience. He cares. He's into the middle class. I like it or Michael Bennett. I is interesting. My son yelled down from upstairs yesterday. Do you know this Michael Bennett person? I just watched his speech when he was Yellen. Whatever crews all my God talk. That was amazing these crocodile tears sitter from Texas. Crying for first responders are too hard for me to take their too hard for me to take. Because when you when the Senator from Texas shut this government down twenty thirteen my state was plotted. It was under water. People were killed. People's houses were destroyed. This businesses were ruined forever. And my son was like I like him, and he was my son who's voting twenty twenty was like in the comma comma now he likes Michael Bennett, which was really interesting that was really Louis likes. Let me do full disclosure here. His brother is James Bennett who I work for the New York Times. He's the head of these disclosure or namedrop thing I like that name dropping hidden in disclosure. It's going to be an issue. It's going to be run the opinion section your time in the middle of a presidential election. It's going to be an issue you and I are going to host of fundraiser for Senator Bennett. You're gonna have interesting people, and I'm going to invite hot people. And you know, I like to have people artists I would be happy to have coffee with them and giving my thoughts on the internet. But no, thank you on the raising any money come on. Thank you know of CARA stuff, look. Yeah. Well, you. I have to go Scott. I have to go talk to Barry Diller. I'm gonna send him your way or people minions. You'll never be you'll be in the Hudson under that island will take on Tucker fairy, Bruce Santa Tucker, you're out for the you go deal with Tucker for me. Okay. Go on that show and slap them around. All right, Scott out from the couple of weeks globetrotting. So we'll have some guests hosts in your absence who will be I'm sure much better than you bar anymore bar where are you going where are you going? I'm going to buy Kenya. Tanzania and Rwanda. Oh, my God, you going to buy where they did you see that story are you shaming should not be going. I'm going to go and spend a lot of money. Meet a lot of nice people and eat some great to read that story there so women there. So I'm not that interested in be if I read it, and they catch catch it on me. I might might not ever hear from me. Again, you need to read it. I'm gonna send it to you're gonna go. And then where else are you going to buy which I will never go to guys like Vegas, minus the charm. No. Read the story. I'm not going to be destroyed. So what's the other Kenya? Tanzania and Rwanda. Yeah. How that's fantastic. Are you taking your kids? It's my wife's birthday, and she's always wanted to go to Africa. So no kids bring back some tech and media stories, I want you bring back some Tekken media stories about what how they're using and stuff like that. They're on homework. Perspective on homework. Okay. Global perspective horrible by and and those. Okay. All right here that Rebecca synonymous produces his show shot Kirwa is the executive producer. Thanks, also, Eric Johnson. Thanks for listening to pivot from box media back next week. More of a breakdown of all things tech and business. If you like what you heard please subscribe on apple podcasts or ever, you're listening. Thanks very much. Hey, everyone this is Rebecca pivot producer extraordinaire. So as soon as we got out of recording. This episode news broke that Amazon is pulling HQ two out of New York. So Karen, Scott are gonna come back in for bonus episode hot take what all of this means. And it'll be in your feed later today. So stay tuned for that and Basil's if you're listening quit messing with my production schedule.

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Introducing Pivot with Kara Swisher and Scott Galloway

Pivot with Kara Swisher and Scott Galloway

00:56 sec | 2 years ago

Introducing Pivot with Kara Swisher and Scott Galloway

"I'm CARA Swisher editor at large at Rico. I'm here to tell you about my new podcast pivot and I'm Scott Galloway cares. Co-host care. We're going to be breaking down the biggest news tech and anything else that strikes us. That's right. Scott hit. It means we're gonna maintain the right to call out question beat about the ears and prod just about anyone making news today. What's different about pivot, you're going to provide the west coast the down and dirty the hardcore journalism around tack. I'm gonna give you the east coast thirty thousand foot view, bringing some Donna, Marie, some stable genius, some frost Nixon coming at ya. Peanut butter and chocolate. Let's bring it. Yes, it's going to be some seriously crunchy. Peanut butter Stott every week will be pulling apart. The biggest stories in tech and business will make predictions. Sometimes we'll be wrong mostly you, but never in doubt here at all on pivot by subscribing apple podcasts or wherever you listen to your favorite shows.

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O'Reilly Update Morning Edition, February 22, 2021

Bill O’Reilly’s No Spin News and Analysis

02:46 min | Last month

O'Reilly Update Morning Edition, February 22, 2021

"O'reilly here in warming up for the nra dot net studios in new york standby for the o'reilly update morning edition on monday. I am optimistic. That the covid pandemic will lift by summer. Could be wrong but you know. I'm not wrong that much. That's why you're listening. I hope so. I think by summer. We'll get back to semi normal now. There will be kooks there will be people that wear masks until they die but normalcy will probably return however here is the question when we get back to normal or semi normal. Will we appreciate what we have in this country because we were denied assemblage entertainment holidays by cove it. Will we say boy. I really appreciate my freedom. The fact that i can now see my family and friends and i can conduct my life the way i would like to conduct it because there is no disease threatening mate. That's the question and unfortunately the answer will be probably. Nah because americans tendency to take things for granted yes now we look back fondly to eighteen months ago when we were living a normal life but once we get back to the games and the concerts and the parties and vacations. Will we really appreciate them. I hope so now this. You're about to hear a preview of the jordan. Harbinger show with professor scott galloway. Who's here to give you uncomfortable truths on life strategies for success and happiness. Most of the people young people. I deal with envision themselves in the kind of top economic class or at least as to too. Basic rules get certified. Get your job as a young person is not to follow your passion to find out what you're good at and then invest the time the grid and the energy to become great at the accoutrements follow being great at something status. Respect your colleagues money accessed a better healthcare the ability to take care of your parents and your kids you will become passionate about whatever it is that lets you do those. Thanks scott has a bunch of great advice on the formula for a life. Well lived checkout episode. Two four with scott galloway on the jordan harbinger show. That is the morning o'reilly update more analysis later on.

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You asked for it...

Business Casual

01:30 min | 1 year ago

You asked for it...

"I'm Kinsey Grant and you've probably read my last email. I write morning brew the same morning grew. That's delivering millions of you all the business news worth knowing every single morning but what comes after the headline. We're digging deeper to find out because after all we know you're talking about business news over Beers with your friends or dinner with your family and so are we. That's why now we're bringing you. Those conversations up close and personal personal. This is business casual. A very first podcast business casual goes a level deeper. I want to know what I wish. I could tell you in the newsletter or get to the root of the near constant change in business. What's evolving. What's at stake and who makes the rules? All you have to do is press play in each episode of business casual all interview one major trend setter thought leader opinion shaper founder. CEO and together will answer the season's biggest questions ends in business starting September twenty fourth from Scott Galloway on breaking up big tack to away founder Gian Rubio dissecting direct to consumer from the trade wars to the streaming wars. If it's a Tuesday you know business casual is answering the important questions be sure to subscribe to business casual on Apple spotify or wherever you're listening to podcasts and if you're a fan help us grow by leaving a rating and review and sharing with your friends. We can't wait to show you all. We've got lined up.

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It's time for Facebook's board to step up

Pivot with Kara Swisher and Scott Galloway

26:57 min | 2 years ago

It's time for Facebook's board to step up

"Pivot is brought to you by our founding. Sponsors smart water. What makes smart water delicious? It's pure. It's Chris is vapor distilled with electrolytes added for taste. Learn more at drinks, smartwater dot com. Hi, everyone. This is pivot in the FOX media podcast network CARA. Swisher Scott Galloway broadcasting live from pleasure. California, pleasure, California. You're in California. That's my kind of div liberal intellectual joke. You didn't see the president talking about the tragedy. Pleasure, california. No paradise all over the news. Jerry, Brown and Gavin Newsom staring at their feet. Donald Trump talked to lamented about the tragedy. In pleasure. Would he meant to see I think was paradise is because they look on the tube. You don't see what's going on. But did you come here? We saw at pleasure. What are they right now? But we're what would you? So we just left pleasure. And we'll just at paradise is just. It's just not acceptable. Oh, man. I just don't pay attention more systems stupid every fifteen minutes. Yeah. I just had it. I'm busy focusing on Facebook. Which is we're we're going to focus on is the big story this week. Obviously, the Facebook Devakul and the updates on it we talked about last week in the story in the New York Times. And it's just gotten worse. I hosted a show this week with Mark Benny off on MSNBC, and they brought in Alex stamos who was the CFO chief security officer Facebook and also sheer Frankel the New York Times reporter who worked on the story. And we talked more about it. And it seemed to have gotten worse if possible can you what do you think of what happened there? Well, the thing I've noticed and I would like I'd love to get some insight from you on the term worse. What is actually come out since we last spoke that the thing I've noticed is the knives. Have come out for Cheryl for sure civically for her. Even Alex was sort of. He's he seemed to me I don't wanna say making -scuse remark. But it feels like the worm has turned on, Cheryl and everyone's piling on. But let's go back. What has gotten worse since the last time the reaction by Facebook. Especially Mark Zuckerberg about this sort of calling it bullshit. You know, just the just the get your backup attitude. Like, hey, we didn't do anything wrong here. What are we getting all is just such a typical mentality in that company? I've seen it on internal message boards and things like that. And what's interesting is to have like the reaction. You got it Google among employees over that sexual harassment story, which was that's enough, and we need to change and twenty thousand people stepping out versus an attitude from the top. And you know, obviously, Google's said nothing because they just put their heads. Down as was appropriate for the situation. But in terms of Facebook, instead it's like so what like it was it just feels like a so what screw you kind of attitude that is sort of shocking in. It's not that you want someone to put on a hair shirt and cry at you. But it is like totally inappropriate the reaction as far as I could tell and what have you heard about the definers in their denials that they did nothing to foment fake news has anything else come out on that. Well, th the head of the guy quoted in this story who said he tried to muddy the waters, which I think most PR people do he was just being honest about PR. I think the negative side of PR. You know, he says he didn't. This was not what he was intending to do. He was just pointing out and why should he was defending himself? I'd never I would never push nationalist or antisemitic people and yet it's fair to point out. This Auras is funding this, and I don't think they realized there's a difference between pointing out one group of people funding and another especially with. All the heavy attacks. That Soros guests that are much the coke brothers do not get racial racial or antisemitic attacks, they just don't they don't get the same level of they're just rich guys like trying to manipulate the election. And so I think it's a very it's a powder keg over near Soro's and not near the coke brothers. And they were trying to again, false equivalences. I it just drove me crazy. It's it's sort of this idea that we moving into that everything is because that was, you know, but they I think the the fact of matter is Facebook was seen to be just like every other big company, which was they will stop at nothing to get their aims. Right. And they just don't want to be seen that way. And I would just be comfortable saying, yeah, we're replaces normal company that wants to make profits at all costs. And that's the way we are just wouldn't appreciate like some honesty instead of this. We're good people kind of thing which has been exhausting to. I've never believed it, but it's it's exhausting. I think. We it's bringing up some I think some really interesting issues around big tech. And the first is. I believe that Sheryl Sandberg excuse me as a protected class this inspiring progressive on top of it protected class. And that she would have been fired had this company up in a dual class stock company making it impossible to fire Mark. Because now the board doesn't want to be the board. The fires the woman in a weird way. We have this perverse culture in big tech where women have to navigate this hunger games like environment. You know, trying to figure out a way to navigate all these these terrible defied death at every turn. It's not easy in this broke culture of engineering and programmers to get to the top. But then once you do I would argue you become a protected class. And I think Sheryl Sandberg is a protected class and yesterday I had Bloomberg the AP I forget who else. Call me and say, you know, what can Cheryl do and my answer. She can be fired. I think she should have been. Fired several months ago, and because they can't fire Mark. He's ended up being her heat shield. But I think she should have been out several months ago in Cambridge Analytica came along. And I want you to respond to that. I still put it on Mark. I'm sorry. I just it's so typical agree. She's running things too. But he's God. He just can't be like he's like the like the I don't wanna call them mutant. But he can't be killed right? Like, he's the guy out the met with the dead pool. He's like deadpool, you can't get you can stick them in the leg, and he can do everything. And you just and interesting markets isn't Jason thirteen. I don't watch any horror movies will not do it myself Halloween when I was a young girl that was the end of my horror movie phase extra stood for me. So I think like one of the things Margaret Sullivan in the Washington Post tremendously good columnist wrote was that. He should. Yeah. I think she was she's writing for a larger audience that he should step down as chairman having having no accountability whatsoever. He's chairman and CEO founder and controlling shareholder. He's got all the cards that he should give up one of his cards that at least there's some level of accountability. Even if it's just a fig leaf of accountability. But they, but I think it's I think it's I think he has no accountability. And so I step is to me is to remove him from chairmanship and put a real person in there who's gonna like who has who gives exactly zero fucks. Right. Like, that's what you want. Right. And then and like, I could do it. And then go from there. And then see what happens I think Kolding them to account is really important. So that there's someone who doesn't care if there's repercussions. And then people could judge it from there rather than this sort of coddling. Board the Cottle's just Cottle's coddles and coddles. And I know there are members the board. Isis backed Reed Hastings, and obviously Erskine Bowles. And I'm guessing Susan desma helmet are tougher behind the scenes. I can't imagine Peter Taylor. Mark injuries center. I think they're probably highly supportive of of this behavior. And they don't nobody wants to pay like nobody wants to pay, and they don't they the very suggestion of payment is a problem like that you suggest that people pay. So I've been thinking about this a lot I love club corporate governance. I've served on a bunch of boards, and I like to remind you and everybody else that because I'm deeply insecure. I have served on a ton. Boards. And and you do find situations where basically there's a controlling shareholder in the board turns into not a board of directors, but an advisory board as is the case at Facebook. But I think something needs to be done here. And I would agree with you that he needs to give up title, but that's the wrong title. He needs to relinquish the CEO role. What what has gone Facebook here to this point isn't going to get them where they need to be. And there has been such agreed airs Carlos Goan was summarily removed from office. You know in incarcerate looks like it's. This is the niece arguably, the Mark Zuckerberg of the automobile industry. I would argue the most respected operator in the world of of manufacturing or at least automobiles. So as twenty years sounds like inexpensive propriety, I think he's in jail as we speak. Jim Brett C O J crew gruesome source sales navigated nearly impossible environment in retail. I think the merchandise looks great disagreement regarding the future of the company with the board. He's been fired. And there has been enough going on here. Whether it's fomenting lies deflect contamination of elections people being pulled out of cars and and hanged. I mean, there's enough here. Yeah. There is there are CEO's fired everyday for a fraction of the infractions that have taken place here. And I think the board needs to reach down find these objects called testicles and demand that he give up to see overall or they all resign en masse right to see was to say, look, boss. We realize you're in charge. But that doesn't mean we have to take it. They are fiduciaries, and they are not only fiduciaries for shareholders produce Sheri's for teens produce areas for the Commonwealth, and then t to all hold hands around the campfire and say this guy needs to give up to seal role or we're outta here. And if Mark Zuckerberg left alone without a board that is gonna make like very difficult for him. So the board needs to act as fiduciaries for the country. They need actors do Sheri's for for, you know, teens any act for as fiduciaries for people who are being injured in other countries, and they need to they need to start acting like it, and I don't think the board has come under scrutiny here. Because clearly they are going on background in the New York Times and get in giving cover your ass quotes. Right, right. So they're they're they do have some power here. They should fire shell Sambuc. Immediately. People are fired for much less agreed jus- activity than miss Burke. She's done really. Well, she's gonna fantastic future. She's made a billion dollars. I think. He deserves all of it. But it is time for her to go, and it is time for him to relinquish the CEO role in it's time for the board of Facebook to do their damn jobs. Well, that's not gonna hang. None of which is to happen. I'm beating my game of. Internet's sorry. Plane plain. It's not happening. I mean. Something has to happen. At least I'm sort of come to Jesus kind of thing is got to happen in some way. I just don't know who's gonna your longtime ago when they were like this has to happen at Uber. I'm like who's gonna do it like which of these board members gonna throw Travis under the bus like which one which one it finally what what's the actual same thing happened when Mersa Maher was sort of badly managing your was like, which one is going to do it. 'cause I don't see anybody like moving except for like, reporters and stuff like that. And so I think if more stuff comes out, but this particular company is so not the employees are so docile. It's really quite fascinating. They're docile. I don't know how to put a Facebook employees. You're the most compromised group of people on the planet. Let me just say and you've done it for years one thing. After thing you never object to anything that I can tell and your docile. Thank you very much that is my speech to them. And then they also the company tends to twist things. There's a really funny tweet by Corey cheered, Ziara, whatever he said, it was a thing about c. Facebook CEO is Sheryl Sandberg tells no are Donal. We absolutely did not pay. Anyone create fake news and goes, cool, Cheryl Sandberg Facebook didn't do the one thing. No one has accused him of doing. So they've changing the tune like they didn't accuse them of cover up. They I think Cher sheer on notice. Really clearly that that they keep addressing things in her article that she didn't. Right. And so it creates a false narrative around what was said in the time space. So we'll see where it goes from here. I'm not I'm not as I don't think anything's gonna happen. I point my suggestion. Cain hurricane. Facebook will continue to ravage the countryside and move say that there's climate change going on when you might find. Now, I think this is gonna happen in the next thirty days. I think Facebook has made itself such an incredibly ripe target one or two things may happen. And that is I do think you're going to see a a group of senators or congress people decide to propose legislation or threaten legislation to ripe target. The other the other interesting while card here is some sort of activist play. I've got I've had some conversations with activists investors. Facebook is cheap. Yeah. It may. Doc, just the the I was saying the stop them. That's your right shareholder loss. Dan Loeb, calling download kind of thing. Well, I it may be there may be a capitalist shareholder reason to break up that this company actually might be worth more as separate entities than its trading right now. I mean, it's true. It's actually by most. I mean, and I've said this all along and full disclosure, I own all big tax. I love owning monopolies and going economies. But I. Good for you. It makes it easier ethical Jesus. I hate myself. Yeah. Yeah. So I think you could see an activist step in. I don't know what lever to have. Where's the soft tissue here? At some point. There's a capitalist argument to break them up which would solve I think a lot of it. But you're you're gonna see somebody's going to pop up. I don't know if it's Warner. I don't know if it's Bennett. I don't know if it's Greg Walden from from. I've gotten a lot of press releases and I've gotten congressional people call me, right? That's absolutely. But we'll see if they have any any ability to do anything. I do not think they do. I am not. I am concerned that they have no power to do anything. Anyway, we're gonna hit quick break. Stop talking about Facebook. And please stay with us. And we'll be back in a second. Hiv is brought to you by our founding. Sponsors smart water. So we both run businesses manage day to day. And now hosts a podcast, I have a lot of podcast, but working hard and sodas smart water. It's vapor distilled, whatever that is for purity with electrolytes for taste. It's water that keeps us hydrated as we work hard. And look you work hard. You deserve a great tasting hydrating water. Learn more at smart, water dot com. Okay. We're back Scott. We're gonna talk about the fails in the winds of the week. We've been talking about a lot of failure. We are. We're such an unpleasant pair think is there a win. Together. Yes. Definitely Siro pleasure. Any wins that you see anything that? You think is a good thing. You know? So I love thanksgiving thanksgiving as I get older. And I realize the finite nature of my life. I'm an atheist. I think I know I'm about I'm about to get sappy. I'm trying to have a moment with our dozens and dozens of fans Keira. Okay. So as thanksgiving, and there's a lot of great research on happiness, and the number one source of happiness is the number of deep meaningful relationships you have but at tied for second are physical, fitness and then gratitude and being grateful, and I'm trying to be more grateful, and I'm thinking about all the wonderful things thankful for and the government gets a lot of grief because individual heading the government is very controversial. But if you look at what's happened to government employees, the sector, that's the most employers of the last ten years has been retail. But a close second is actual govern employee's state tax coffers are really low. So you've seen a lot of layoffs at the municipal local and federal level. And I'm I have. My Twitter handle that. I'm a product of big government, the the the generosity and vision of the university of California gave me an incredible opportunity when my kid was speech delay the state of New York stepped in and gave 'em occupational therapy. And now he's thriving now. You know, even even more recently. I think about all the all the folks out on the west coast doing a great job, the first responders, and I think about the break and women who've put in the eye of Osama bin Laden. I am most of my income comes from capital gains. So the Twenty-three cents on the dollar. I give to municipal federal and local government officials. I am thankful for them. I think they do our job. God. All right. You're gonna go there. I was gonna say Jeff Bezos Steve Carell paying Jeff as a Senate live was win the week. I went trolling Trump. I went I win. Actually, I thought Gavin Newsom who's the incoming governor California literally held it together. I know him very well. And I could he was holding tight possibly. I think he like couldn't stand being there. Staring at their feet or Jerry Brown. Takami? Leaders. They I know they wanted to toss him in the Pacific Ocean. Just it was when he kept saying the wrong things and the fire the raking, and they just sat there, and they took it for the betterment of the people there default on the people of gal -fornia who are suffering. And I thought that was a great thing. I I have I'm very excited about the leadership of Gavin Newsom as governor company, I thought Jerry Brown's been a great governor also. But I think Gavin is let me say this about Gavin Newsom when he when he did the gay marriage thing way back when I was I got married during that period. It took a leader to do that. And he suffered politically really badly at the time of what he did the stance he made on gay marriage in opening up and he suffered and it was a setback to his political career. And that to me is leadership. So I'm very excited to see if he can really step up and leadership and not like saying something, it's narking at Trump. Right. When Trump was misbehaving in a terrible tragedy was I just I. I wouldn't have been able to hold it together. I'll tell you that. So I'm looking forward to I thought that was a win forgotten. He's gonna be a big deal in this in this tech stuff. I think he's going to be a big deal. Yeah. Let's do it for twenty twenty. I don't know. Around ticket Brown news now, it's too much California. I I do think he's I think he's a really interesting people always just can't govern Newsome maybe because he has like task to Karen skin. I don't know what they do. They always discount him. And I always every time. I all the time. I spend with him. I know he has that thing about what happened personally that the drinking problem caused his friend. I get that. He's got controversies his thing. But I do think he's got a lot thoughtfulness. I'm big fan of his some hoping for great things from him as governor. I'm hoping I think again Brown deserves an enormous amount of respect and thanks for his running races week. And I think they're going to matter on day think he's gonna matter on tech. And I'm gonna make a matter in any case, I'm gonna write about him soon. Predictions predictions. I need we need to wrap it up here. What are some of the predictions that you have before we finish up this week? What do you think is going to happen? You had a good one last week about Amazon, everyone becoming a subscription service of some sort of loyalty resonated with you. Resonated with you people agreed with you feel sorry for me because he'd be me up every week. They're kinda my defense. You're going to see. I think you're gonna see two to three private company. See as announced that they're exploring a run for president. I think the the most likely obviously Bloomberg, but that's private sector. But I think Bob Eiger from Disney and Howard Schultz Starbucks. L you say, no. And I I've asked him directly. He said absolutely not ROY said, no way. Yeah. I think his wife doesn't want to do. I don't know. I get the sense. I think. I love willow bay wonderful journalism. She's great at USC. I love will obey. She's fantastic. I also gave newsome's wife is amazing enough that people. She's does this astonishing documentaries on. No, not her bad one. That's his bad. I. No, she's a naughty girl. No. Years ago. I was when she was married him. She replaced him at an event I was at a game dinner some sort of like a big, you know, one of those things that are ballroom, and literally she was so filthy for she she was so she was so potty mouth that like even the gay guys are like, okay that's enough. Like in San Francisco, if you can shock of room full of gay people in San Francisco, you are way on top of that. I have to say it was thirty. It was a dirty. Good for her. Well, it was interesting. I was sort of like, whoa, ho. No, no, no, hold on that. It was that doesn't and I live in the Castro. San Francisco's is very little shocked cares wisher. But no, Jennifer Newsom is amazing. And but from people's was I don't think Bob is going to run. I do think Howard is going gonna run it using Bloomberg's run for sure. And who do you think who do you think has a better shot bloomer? Well, the both billionaires right lemberg Bloomberg. I think you're probably right by the boat last time. That was his I agree. Yeah. It's it's a shame. I think he thought he was a great mayor. Have you seen the movie Queen? No, I have done. It's fantastic. Does a call Queen rhapsody rhapsody. It's fantastic. I mean, it's really a wonderful movie. And it's inspiring movie about her creativity is just being fearless. It's really wonderful film. I I don't know what maybe. Air, but go see it. It's fantastic. I shall I'm gonna go. See something else. Probably one with while Davis. I'm gonna go to a lot of movies. Children in Cuba. Your children are in Cuba. Your. I have my ex they're they're in Cuba during my kids. My kids have liked the frigging life over eilly. They go everywhere met like the Dalai Lama and Desmond Tutu, and they have a my kids are anyway, we yeah, I have no predictions. But I like your predictions is. I'm gonna have a lovely week a quiet weekend without my kids. But I miss them terribly. My servant, you deserve my son. Actually, my son actually wrote me, and I put it up on Twitter. He goes, we you have to pick up the phone because your arm you -mergency contact when we're in Cuba. And and he goes, no, I'm in a podcast excuse it was like oh my God. He's my number lately. Wonderful. And I know you hate the sauce. Stop by the way. I'm someone. Convince someone said you're an igloo crunch on the outside soft on the inside. Nice try. But anyway, don't shed my kids screaming last night. I lost a tooth last two. We went up there. And of course, he looks like a boxer just get head in the face and put your thunder and write a letter. He wrote this hilarious letter asking all these questions where do you live? What's your name? Do you have a pet? How old are you? And we of course, wrote a letter back, and you came running into bed this morning and read all the answers in was just one of those where the cameras Homar channel. It was so. Into this. I hope he doesn't know. He's he doesn't doesn't even listen to this. My family has interest. None whatsoever. I miss those days of of those letters. I wrote as Santa I was an excellent Santa have to say I had a lot of advice for the children. I typed everything obviously. 'cause my handwriting was easy to understand not understand that they could figure it out. But I miss those days, but there over now, Scott we're gone for. All right gone forever. Yup. Where's the time? Mark Zuckerberg stepping down. Whipping, but it's. Hi, dave. He has thanksgiving break to like get everyone. Forget have Trump say something dumb. And then we move onto the next news cycle. All right Keira need to wrap it up here. Any last words? No, I have no last words. No last words looking forward to speaking next week. Yes. We'll have lots more to talk about. I'm sure after as we move into the Christmas easier, especially Amazon and all kinds of things Rebecca synonymous produces. This show is shot. Kirwa is boxed media's executive producer of audio. Thanks also to Eric Johnson. Thanks for listening to pivot from vox media. Join us next week for more breakdown of all things tech and business. If you like what you heard please subscribe on apple podcast. We're ever. You're listening. Fans of our founding sponsor smart water. Delicious, smart water is vapor distilled people they distilled for parity. Okay. That's even more distilled. With electrolytes added for taste leaves us feeling refreshed and ready for the next challenge. Learn more at drinks smart. Water dot com. Hey, pivot listeners. This is Karen wisher Scott Galloway, it's the week of thanksgiving. But we're feeling thankful all of you for letting us make this show, if extra Genesis we please leave us rating or review on apple podcasts. If you're listening on your phone right now, just head over the show page and swipe down. And if you're not on apple podcasts just tap the link in the show notes to get there. And while you're at it. We'd also appreciate if you took a minute this week to rate and review our other shows Rico, decode Rico media and any other podcast you'd like five stars for us. Thanks, everyone, and what a wonderful country would a wonderful age so much to be thankful for happy. Thanksgiving.

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Reimagining Success | Scott Galloway

Good Life Project

1:17:38 hr | 1 year ago

Reimagining Success | Scott Galloway

"Scott Galloway is a professor at N._Y._U.. Business School where he teaches brand strategy marketing was named one of the world's fifty best business school. Oh professors he's also the founder of Lake something like nine companies and the author of two books the first of which was a near times bestseller and the latest of which the Algebra of happiness is just out is a a fun provocative take on what really matters in life and what is also in his mind and utter waste of time all of this accomplishment not bad from guy who grew up a kind of self described slacker in southern California and can bank his way into graduating from U._C._l._a. with a sterling two point two seven G._P._A.. So today's conversation we dive into how Scott's upbringing how being raised by a mom who has a fierce champion for him made so many things this possible how he built a life of what kind of seem like astonishing external success felt and looked like while he was simultaneously crumbling inside and then blowing up everything that got him to this place of perceived achieved success and rebuilding life on a profoundly different set of values and expectations and measurements in his second and of course along the way we touch on some of the ideas from his new book the Algebra of happiness that we'll without a doubt provoke you think differently about what a life well lived is and how to get there so excited to share this conversation with you. I'm Jonathan fields and this is good life project. The life project is brought to you by chase so you're on the hunt for your next home at chase they get it. 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Morgan Chase Bank and a an equal housing lender two words Cherry Garcia okay well actually six words Ben and Jerry's Cherry Garcia ice cream when summer comes Ben and Jerry's ice cream kinda straight up makes me smile now beyond Cherry Garcia of course I'm also a fan of chocolate chip cookie dough. I confess to having Chunky monkey moments on occasion in fact funny enough. I think the first time I tried it was at the Ben and Jerry's store in Burlington Vermont where it all began and I remember walking in it was just like this multi sensory smile and that got these warm and Fuzzy memories attached to it. The only challenge of course with Ben and Jerry's is keeping it in the house confess to occasionally stashing a pint of Ben and Jerry's ice cream in the way back of the freezer just to be sure it doesn't get devoured while I'm out of the House treat yourself to your favorite flavor anywhere I scream is sold old find a new favorite at Ben Jerry Dot Com. That's B. E. N. J. E. R. Y.. Dot Com I describe my childhood in in my name is a is a remarkably remarkably on remarkable. The just latchkey kids single single mom only child nothing exceptional. Nothing just Kinda sleepwalking be life. Did you feel like that when you were kid or looking back at the is that Sorta like your assessment what was going on us. I think you're a kid who's just went on any different. <hes> you know the defining moments from me where my parents divorced a growing up with a single mom but it was the seventies. I think we're about the same age. There's a different approach to kids. Make sure that they're fed make sure they're home by midnight and that's about it. Wasn't anything like what we're doing now. Yeah it's I mean I remember in the summers <hes> going out to play kick the can literally like that was the game with all play in the middle of the street right to all hours somewhere like a chain of parents calling each other finally found where the crow we'll running out yeah totally different. I mean because you reason to get an hour right yeah to two boys eight eleven and it's just such a such a contrast right just so involved in their lives and there's some actually kinda relaxing when I was single and on the weekend would come. It wasn't stressful but it'd be like what's the most fabulous interesting series of things I can do this weekend and then when you have kids you have kids right. It's sort of your life is well. We know we're don't with the kids. We're we're doing little league in that. We're doing play number watching. You know whatever it is. <hes> you know. She's A._M.. On Saturday night but it's kind of it's not nearly as much fun but our since it's not it's not as fabulous but it's sort of relaxing right. You just kind of know what you're doing this weekend yeah well. I guess that's why a lot of people turned to religion right there sort of like these are the rules of the game a lot of the decisions for you yeah so <hes> Commissioner case where a your your parents were against the Mom Dad Scotland mother England. Both you know neither of them. <hes> got past eighth grade <hes> pretty impoverished households and you know have this great gene <hes> <hes> that we've inherited and I think as a secret sauce in America's this kind of risk-taking immigrant gene I said we won't better lives and both came here on a steamship <hes> in the late fifties with their families. I'm assuming no I would just <hes> they met. They actually met at a dance <hes> but it's <hes> you know it's. How old were they win the game? I think there were there. I think a mid to late twenties so young yeah kids right <hes> but but <hes> you know people <hes> I think when I'm when they see some six to bald white guy wearing a blazer. They assumed that I'm fifth-generation you know may flowers nonimmigrant was that was sort of the classic disagreement immigrant mentality Sorta like bringing also work ethic or a focus on certain trajectories or career passer education. You know I think I've always had a <hes>. A sense of you know for me. It was about my the parents were were risk-takers worked hard. They didn't have the benefit of education and for me so struck me the con the contrast in the opportunities they had opportunities and it wasn't necessarily because I was raised in this wonderful environment I was because I was born in the best zip code and the world to be born in California in the sixties as a <hes> Matara sexual white male and I'll come back to that that was literally the winning lottery ticket because through the sixties Susan Seventies America basically had MONOP- monopoly power the best most productive economies in Germany Japan had been leveled and World War Two third largest economy in the world is Argentina's. We basically had monopoly power for thirty four years. So if you were white guy in corporate America you could do really well and I were when I grew up in California the University of California which is you know seminal in my life decided wanted unremarkable kids and give them remarkable opportunities so I got into U._C._l._A.. With I was <hes> he asked me about my child that I was <hes> mediocre in terms of grades but I didn't test well either. I just wasn't Kinda but the U._C._l._a. was looking for kids who are unremarkable to make them remarkable. As the way I would describe it and then I rewarded the vision and the generosity of the region's view see in California taxpayers with a two point two seven G._p.. Etta U._C._l._a. and then somehow I got into graduate school Berkeley <hes> But <hes> Yeah I've always said the difference my my parents were hardworking and I think more talented than May but the reason you know I'm here with you and I've had a had this kind of you know a lot of economic security in my life which my parents never had is because <hes> to two reasons one the irrational passion that my mother had for man to University of California you know being born and places state-sponsored education and in a society that is risk-takers values hard work gives you a ton of opportunity and the reason I brought in kind of the white heterosexual male part of this right about this in the book is my room my freshman year <hes> was a white male who was homosexual and to be born in the sixties. As a white homosexual. The mail was literally the unluckiest thing in the world because if he'd been born probably in the fifties he probably would have <hes> found a monogamous relationship. If you've been mourn in the seventies the AIDS cocktail would've caught him but unfortunately unfortunately he was born at just the wrong time and that is he he began you know having a series of relationships in his twenties and then contracted H._i._v. in science and catch him fast enough and Al Assad Same Guy San Fraternity in college. I was lucky Scott in the world literally that my time and couldn't have been better and his timing descriptive marsh I mean it's interesting because it really does bring up the the notion of how many things end up dropping into our path off that had profound impact on every part of our our existence that we have literally zero control over and can claim you know like zero <hes> responsibility for hundred percent and it's you as a species these were so good at crediting character hard work for success and then we credit the markets for our failures and the reality is I don't have any such delusions you know. I don't if I was born in even in China in Europe. which are you know productive interesting societies? I've started nine businesses generously. I'm Kinda three four and two. I don't know if any other society would tolerate the failures of had and still let me get to our am now so it's yeah it's <hes> you know go go U._S._A.. And that's one of the things that so disturbing some of the rhetoric right now around anti-immigrant you know being literally demonizing immigrants because if it hadn't been the kind of the warm the warm embrace of the U._S. my parents and if it hadn't been for also really rattled by this education scandal and I'm part of the problem because as academics teaching N._Y._U.. We're kind of drunk on exclusivity every year we brag about how impossible so it is to get into school and you hear People party say like it never get into the school I went to now and they say that with pride and it's a bad thing because on a risk adjusted basis your kids maybe a little bit better than you've been. Maybe a little bit worse but probably GonNa kind of similar to you in terms of intellect work ethic and if they can't get into the school you got into which is Kinda caste system in the U._S.. We have a caste system. It's higher education here then. They're not gonNA do as well as you so something that I find profoundly. Disturbing serving is that the kids used remarkable opportunity to get remarkable schools now that have good schools and the kids used to good schools got average schools because because while the number of applicants to Stanford triple the last thirty years they haven't increased their seats by one because we all as academics love being a luxury brand and we've kind of lost the script. We forget that we're public servants Nah I mean I guess what's The answer to that though I know I know it's a really big complicated issue but honestly really here's because you've been living a solid chunk of your recent adult life inside of that world <hes> and kind of speaking out <hes>. What do you see a clear path through different way why there's a lot of things it's obviously a nuance and complicated problems in some of the some of the reasons? It's getting harder to get it gets goals. Are there's good things going on. There's more and more girls go into college. The number of girls that are going to cost extr increased exponentially seventy percent of high school valedictorians girls and that's a great thing more kids going to college. You know these are all good things. Some of the things that I think we could do that would increase the supply in that really is the provinces supply-side problem is I believe we should start taxing endowments over a billion dollars. If they don't on grow the number of seats they have faster than the population growth so the head of admissions for Harvard last year said that we could have doubled the freshman incoming incoming freshman class and not sacrifice inequality based on this as it there now man well not even distinctively endowment. They've said that the number of applications we got we could have doubled the number of and not sacrificed inequality and my viewpoint is with thirty billion dollar endowment will then do it and so the notion that you sit on thirty billion dollars if you're not growing your public service faster than your your your endowment. You're not a nonprofit your private enterprise and you should be taxed. I think tenure is essentially an incredibly <hes> repurchase tax on young people and that is the basis of tenure as really noble on that as Galileo lie you WANNA protect scientists and academics when they say the world is not flat you don't want them burnt into steak right so the pursuit of truth and protections are wonderful in terms of the initial notion what it's turned into is <hes> an extraordinarily expensive union lacks the artisan ship and the lacks the kind of commitment to quality and what we have is a social services for the under educated food stamps and welfare unemployment insurance and we now have welfare for the over educated and it's called tenure universities and tenure just translates into debt on young people and young people coming out of school now with so much debt and I think to a certain extent a lot of us in the academic of the College System Prey on the hopes and dreams of middle class families and convinced him to take on massive amounts of debt so people who in my opinion verge John or full you know fully in the circle go of incompetence so they can maintain what I would say are ridiculous salaries and job security and that's tenure its lifetime employment when a university awards tenure at typically has to put two five million dollars aside and reserve because basically what they're saying as we know this person's is about to become unproductive for thirty or forty years so get rid of tenure <hes> Tat Start Taxing Endowments unless you increase the number of seats at the school. I think we need some sort of Marshall Plan where we work with the states to build fantastic public. The University of North Carolina does a great job of the majority of their kids are from state also in this sounds yeah politically incorrect but I think that <hes> we need to focus on more middle class kids. It's from the U._S.. We let a lot of foreign students under the auspices of diversity. We don't let them in for diversity. We let them because they pull full for eight. They pay freight. Excuse me so there's a body. The fastest rate increase your kids likelihood of getting into Oh college is there's a box and every application you can check. It says I will not pursue financial aid of any source you check the box your ear ability to get it goes way up and foreign students at least for graduate programs. I've taught foreign foreign students are usually these interesting charming rickets and I you know I think it's important that you have foreign students. I do think that diversity but that's not what we're letting them in. We're letting them in for money and I unfortunately between legacy between legacies between wealthy wealthy parents who make donations and between wealthy foreign students who you've seen get crowded out of the university system or crowded down into lesser schools that are more expensive is good middle class kids. If you remarkable remarkable poor kids actually have a decent shot going to a grade school now and that's kind of -pointment in academia is we realize we see the evidence of some of the bad things we're doing but we are point. Miniscule are Niaz more pain reliever is that we lead awesome remarkable kids mock muscles but the reality is the majority of kids aren't remarkable. I I was remarkable eighteen. Were you not even close yeah so but where did you go to school sending Binghamton State University okay stay. That's a great school you it wasn't you did your family didn't have to get it wasn't as incredibly tense big decision where the whole family's hopes and dreams are on your shoulders because they're borrowing against their pension fund to pay for you to go to school and you know my guess is a opportunities in contact skill set to try and figure out what you're going to do your life and I I worry that those opportunities are just going away. It just Erie the Rim and we essentially in the U._S.. We've fallen out of love with the unremarkable. 's We used to love unremarkable people and say let's give remarkable opportunities go to Stanford start accompanied by the time there twenty four raise hundreds of millions of dollars enter capital spill scale company it'd be billionaires by the time thirty and whereas the kind of the kids who are just average verge well. It's the hunger games and you either or a celebrity. You die kind of violent death that I and I think he's not I mean you see clearly in education. You also see I think in corporate America these news on the phrasing high potential like what is one of the earliest jobs have so many talent department is let's identify the quote high potential people as soon as we can so we can get them extra attention to resources to relationships to the same thing I mean when we come out of college you still have no idea which way is up and and and you know who is high potential and who is not even that label I mean everyone is high potential given adequate attention and resources and nurturing and mentorship. I I find it really fascinating. How that that follows you straight it into <hes> the job world these days where you're they're trying to identify and then just like you said? What about everybody else? Does that mean that we're just you know the other ninety percent are just subject not that great twilight for the rest of their their existence rather than we'll. What have we all have that thing and let's just figure out what it is in each of us really figure out how to get us into the place and and doing the things that allow at all to come out in whatever way it it it? Will I mean the idea of tenure though I want US early revisit. I get agree with what you're saying. You're the same time there's this really interesting thing happening on Campus Jonathan he writes about this book talk about the sort of there is a moral thing going on where it's like. If you speak outside of what is the correct line of Dogma within especially the institution you get attacked you get attacked by by every level with immunization. And so what you need that the you need to actually have the universities colleges. The community colleges be safe places where you can have conversations around these topics that are not necessarily in line with her like what that you're supposed to be telling. How do you create that space for the professors to be potentially the voices of constructive provocation without that San production so it's a great point the hold the basis of academia it was a star Socrates replied to provoke and the idea that this provocation created so much controversy they decided to move it to a safe place actual land outside of the city where people were encouraged to provoke each other and that was sort of the basis of the first university and then those people needed protection and that was tenure realistically? I and I can see in the humanities or maybe the law school I I still think tenure has even medical research bioethicists ethicists. I can see why you can make a solid argument that they need protection at the business school. We're not saying anything controversial as a matter of fact in the market apartment. We haven't really said anything in thirty years. There's there's we're talking about. Faz Be rule a versus rule be the influence or marketing segmentation. I there's not a lot of ten years gone from. I think very noble thing to basically Yo you know just overpaid job security now. What you're talking about a professor height is a colleague in this amazing where it goes under this notion that first off campuses have become totally intolerant places? They have become not places of free discourse in almost any room I walk into. I'm considered a progressive and probably left the median in the room at N._Y._U.. I'm considered this. You know this crass kind of conservative <hes> it's there's no tolerance alternative viewpoints right. Now and universities are very few and you see these really Sam. Zell is billionaire real estate. <hes> <hes> Businessperson in Chicago was disinvited from the U._C._l._A.. Business because there's so much controversy over some of the things he's he'd said about the work plays and his treatment of unions and the fact that in the in Sam isn't exactly hard right wing and so the notion that the university's can't tolerate that sort of discourse is really frightening <hes> now I don't I don't immediately see the link that professors need tenure in your I think it's more of a gestalt. I think it's more of a I haven't heard anyone get fi of gift fired or with save by tenure. I think this is just a very unfortunate environment. A manifestation of the kind of people that academia approaches and also the students especially <hes> universities a different coasts are have never known any sort of controversy in they start talking about things like microaggressions and triggers and these are kids that have developed what I call a princess the Peace Syndrome because their entire lives they've had this concierge bulldozer parenting where their parents make their lives and I'm. I'm parenting all Jonathan Hide here so I I need a footnote him but their parents have cleared out every obstacle so the physically safer than they've ever been but they're more emotionally fragile and as kids you come to college and they hear something the classroom that offends them and they stand up and they shout down the professor or <hes> we're seeing record Jonathan's whole his big prediction and and it's is coming. I wish in those articles C._N._N.. Just yesterday we're seeing record admittances emergency rooms of kids doing self harm and attempting suicide and if you think about anything you have kids anything that can take off track faster at something happening in your kid Ed and we have record levels of teen depression especially among young girls and it's a combination of this dangerous cocktail one concierge parenting and bulldozer parenting were kids aren't able to develop any immunities. We've been using so many safe wipes on their lives. They have no immunities and to the rise of screens. Were kids the number of kids who C. T. their friends every day has been cut in half in the last ten years. The number of males are not having sex as tripled under the age of thirty so yeah lessening pregnancy less drunk driving these are all good things but teen suicide way up number of people interacting with each other social skills preparation <hes> so there's some very dangerous trends out there but I'm still someone who believes the tenure for the most part is nothing but attacks on youth the and like you said not an easy problem to solve but on the one hand it is on just cut it on the other hand. It's not because it's it's really nuance and like you said that culture is changing changing not just cultural campuses but the culture of parenting the coulter family the culture of technology and how that's literally changing the social dynamic of the way that we exist and also our openness to conversation with people who don't agree with US rather then from a standpoint of rage and call out from point of look. I don't agree with you. Tell me what's on your mind. Tell me what formed your opinion. I still may not agree with you at the end of this. Let's let's talk about it because something has is brought to that point in your life and some of these me to this point my life who and we don't see is what's at least understand what brought us here yeah and there's <hes> I forget who said the second credible but separating the person from the ideology and I decided a couple years ago <hes> I mean as an example I'm progressive. I go on Fox once a week and it's because I want to get out of my bubble and and I don't I don't buy what they say and I find myself not physically not liking the people on Fox. I want bad things to happen happening. Sean Hannity and I'm not proud to say I don't like the man and I hope I hope he has not successful and what I realize is that if you start evaluating people based on their ideologies you shut off fifty percent of professional impersonal opportunities. I just immediately half the people in the world you don't like in aren't GonNa like you and said the ability and when I find it going on Fox I go on Kudo. I go on Stuart Varney. I like them. They're nice people and we have a more civil argument about our disagreements and we can come together and you you know there's I was listening to mayor peed candidate for the Democratic nomination president and he has military services background and part of the reason. I think we're having such trouble. Dysfunction polarization is that there's very few things that we all share in it used to be all the elected leaders had military service and so there was a certain level camaraderie there and then when you look at I think the biggest culprit here is that whereas we used to spend five hours a day in front of the television. We're not spending six hours a day in front of a screen and the underlying operating systems of the screens have a business model that literally promotes rage in divisiveness because the key to selling more advertising as more engagement and the key to more engagement unfortunately as species is we're quite tribal is is rage so stories on anti VACs get a lot more rage in a lot more clicks so these very controversial topics topics to get people angry topics that help identify you of being far left if our rights such as the algorithm conserve increasingly extreme content whichever side you belong to and then you get more and more outrage we get more angry each other yeah and then you laid on top of technology which is designed to promote addiction bio. Alma candidate didn't commit reinforcement boom Abobo random rewards like it just triggers. I must have more of what are you addicted to apply so I'm addicted to a platform addicted. I'm old enough to modulate addicted yeah of course which one I think what I mean like my cell phone. <hes> <hes> for me you know for the most part I think is actually probably just texting Tuxedo messaging yeah but I'm constantly I mean I I feel like I I'm aware of the problem <hes> <hes> and I love putting down and stepping away and you can march fourteen year old boys modulate also their brains are being shaped like at a time when they are starting with these things that we never did time we hit this stuff. We like sure there's no plasticity we keep grammy and changing but fundamentally our brains are are not going to be rewired and reminded the way that like kids coming up now who are just living and breathing when the early smell and nobody knows what the effect of that's we can say. I you know I'm Scott Gallery. I'm addicted to twitter and it's the way my dad I never understood both my parents are smokers and ultimately ended up taking my mom's life and I just never understood this addiction this hold on our household that smoking and and my dad said I used to do it was bored and there were friends and it was interesting and it it was like every one of them was a friend who was something to do and it solve the boredom and it was an immediately kind of immediate easy rush through what was fairly Monday in life. That's what twitter's me twitter's my smoking. If I'm bored in any way I WANNA quick little hit a quick little drag. I just pull up twitter and I see you know I see what's happening and I say help people responded I do it. I I do it for reaffirmation. I want people to like my staff. Re tweeted. I WANNA hear their comments but that dopamine hit and as you know it's clinically proven you get a right before you check it. Does he take it out anticipation dissipation. That's exactly right so it's yeah. That's my smoking <hes> but it's we do circling back to Professor Hi. There is an emerging mental health crisis among our teens. It's going to be an an an already starting to see it's getting pretty serious in it's actually <hes> more prevalent among girls because boys bully physically verbally girls bully relational and what these platforms are as their nuclear weapons for bullying relational and not only do not get invited to the popular girls birthday party but you see play out in real time while you're alone in your room and it's really damaging and I almost wonder sometimes weather somebody who knows that that <hes> the other end of their behavior is is a person or a group people who are being bullied and not invited and not included then almost willfully over shares in a way that is designed to target that person <hes> one hundred zero. We'll we'll be watching outdoors. It's Kinda. Terrifying is very very jim roles like bullying his new but the mechanisms by which goes out into the world and creates harm changing dramatically so at Westin hotels and resorts they have a single goal in mind to help you travel well in fact. I think they kind of say it's more than a goal. It's pretty much their entire reason for being and I travel a bunch so I know and I'm sure you know to how important important is to feel really taking care of when you're on the road so Weston's range of wellness offerings has been curated with one thing in mind you and me you'll find nutritious offerings on their new eat while menu on demand workout gear and fitness gear lending which super cool and restorative night's sleep even more cool in their heavenly bed not to mention a ton more because when you eat well move well and sleep well you just rise and feel better no matter where you are in the world and where you travel welcome to Weston and welcome welcome to wellness explore at Weston Dot com a member of Marietta l'envoi. One of my favorite things to do is surprise the people I love most in my life with beautiful and fun on an awesome things especially my wife and daughter that is why I was so excited to discover FAB fit fun. What is it will fit? 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I can't believe I sent that right by the way and I'm actually also digging the architect wooden spoons. That's the lifestyle part so fad fit. Fund is a seasonal subscription box with full-size beauty fitness fashion and lifestyle products. It retails for forty nine dollars ninety nine cents but always has value of over two hundred dollars use the coupon code good life for ten dollars off your first box at Fab fit fund dot com. That's coupon code good life ten dollars off at FAB FIT ON DOT com. The other thing that I think is kind of bum and again. Neither of US are Luddites. Yes I can we live and breathe and there's great benefit to technology is the idea of using devices and technology as a way to strip boredom and solitude and contemplation reflection from our day to day existence. It used to be like you. We're forced just to be bored. You were forced to Kinda Ponder Deidre to think about stuff any number of times throughout the day and there's there's value to that there's value to your growth as even being there's value to your understanding of the world creativity nights creativity you're coming to process in makes us who we Orjan no small extent and that is basically being annihilated right now because once we become addicted to whatever's the thing that would take two two. It's on US twenty four seven and we don't have that space anymore. I I often wonder what what that's taking from us <hes> and how that is affecting ability allowed and live good lies meaningful lives spacious lies yard even just think about am on your kid I came home. My mom was still work on my three three thirty from school and basically I had three hours alone. There was no activities until I was older knows flank sports it was kind of cartoons and just boredom and but you know you invent your own. You Bet your own stuff now and I think about my kids over program. They are my guess scissors upsides and downsides. I haven't really thought throw yeah now. It's a whole new world for for for for kids parents. <hes> let's fill gaps. You ended up going to U._C._L._A.. Yup coming out. Would you do right after that over to Morgan Stanley only for all the wrong reasons <hes>. I had no idea what I wanted to do with my life professionally my graduate. I was on academic probation five or six times. <hes> how do you go by the way from graduating with a two to Morgan Stanley. I lied about my grades <hes> they didn't check the reason I had several offers and the reason I'm with Morgan. Stanley was heard they didn't drug test and they didn't check transcripts and <hes> so light Obama grades. <hes> got a job job and I wasn't going to graduate and I literally when I had a U._C._l._A.. Are had failed. Seven classes and you get credit if you've got a D. so I went to a bunch of professors and ask them to change. I said look I have a job Morgan Stanley. I live at home on my mother if graduate. I'm going to have to get a job. I got a job installing shelving oreo Morgan Stanley. If I can just get Outta here and free up receive or someone more deserving for me that was literally the pitch and I went to five professors. I needed another three classes asses and I got the same reaction from four or five of them that look at me look at me and just discuss shake their head and then signed the form and asked me to get out of office so I got like a semesters with the credits in an hour by going to people. I got NEF's room so I got a job of them. Were in Stanley because the late eighties and investment banking was cool and I thought I was going to be you know Richard Gere from pretty woman doing deals on the Concorde. I'd had no idea what I was going to be doing and that's what you did it. You got a job at work. My ass offer two years. It was a great training didn't like it. was you know just important to figure out what you don't WanNa do and I got a great training. I think I've got a lot of the skills discipline that I didn't get it U._C._l._A.. Because I was too immature to appreciate the opportunity I out there so from there you go metric rascal after that then yeah I <hes> yeah fell in love with someone and I thought I need to go back to Grad School. I don't know what most people who go to business. School business. School is really for the elite in the aimless in this economy. If you're good when you have lost God yes and if you're if you're smart ambitious good pedigree you go but you don't know what you want to do with your life you go to Grad school or at least you go to business school because if you were good what you if you're good have a good undergrad degree and you know what you WanNa do. You can just Kinda do it. I it doesn't at this point business schools become so expensive that opportunity costs. It really doesn't make sense to go unless you so that made me perfectly and so I applied to much school I applied. I two seven schools or nine schools rejected from all of them. It got rejected from Indiana garbage. I mean the long list of schools I rejected from and I got into U._C._l._A.. In Berkeley again and essentially the same thing you're you know they basically said you're a fuck. Fuck up and we'll let you in and native son of single mother in California so <hes> and I fell in love with somebody <hes> I got off the way list at University of Texas and I said well I'm going to U._T.. And she said I'm going to Berkeley and I said well. I'm going to Berkeley so so basically followed. You'll going back this notion of serendipity. I followed somebody to Berkeley. I didn't really have any desire to go there and <hes> <hes> you know just outta again a wonderful guy my act together studied much harder did really well academically and Kinda got. You know I sort of if you will bloomed it by twenty six or twenty seven and now in gets goes back rushing. I think unless you bloom by the time you're like fifteen in our society you get set back and what's unfortunate is your economic trajectory is largely set in your twenties. It's if you don't come off the flap top at a a slope and you're going pretty fast pretty hard. You know it's hard to get your career started at thirty five and so it's it's it's kind of a it's. It's discouraging. How important is that young? People get professional trajectory literally right out of college and then what is the basis of that slope trajectory the quality of the program they got it difference. The CASAS different schools recruited the Ivy Leagues and then they do a junior college. It's just a different life different opportunities different income everything but I mean I I mean I guess the question is what what is the magic by what you're measuring success with that is it how much you can earn over the course of your lifetime. LYFT is it the power in the prestige that you get because what I don't see what I and I've seen all the data supports that what I don't see the data that she supports that that same trajectory <hes> is either set in your twenties or will follow measuring the metrics of meaningfulness your purpose anyone happiness and all these other things and I feel like there's this real reevaluation of one of the metric by which we measure success in our lives over some David Brooks I guess has like this new book out that Double Mountain whatever he calls about how many people are actually dropping into this space and saying okay so this has been the first mountain you know we used to call that the midlife crisis but I feel like a lot of people are being much more intentional about that <hes> and just kind of revisiting sitting. Yes these decisions early on May take me down this path but I've seen what that looks like a lot earlier. These and I'm not so sure that's what I want from life. I think it's a really sure point so first off. There's some buyers here environmental unbiased because at the business school I'm just surrounded by capitalists Uber Capitalism were very focused on economic security <hes> our economic prosperity and the data is so what does the relationship between money equals you know my it does does does money equal happiness and the majority of the research shows there is a correlation between money and happiness but a tops out and that is the difference between making twenty five thousand dollars a year and struggling economically chemically and feeling food insecure and worrying about your kids and worrying about whether your parents can have access to good healthcare. You're less happy but once you get to a certain point of indecent housing <hes> the ability to get your Kid's education. It's good at Disneyland once a year feeling is if you could absorb economic shock wouldn't ruin you being able to buy kind of some nice stuff maybe some diligence and everyone's which by the way is probably about eighty thousand dollars a year household income in Saint Louis in about six hundred thousand year Manhattan so a lot of function where you are but there is a relationship there is a correlation between money and happiness but once you get to that point it flat lines now a lot of people say billionaires the less happy to millionaires that's too. They're not anymore happy but they're not any L._S.. Happy it just flat lines and it's difficult to do and I think a lot of US lose. The script around is once we get to a certain level of economic success or security having the cell phones to get off the hamster wheel and say well more money won't necessarily the lead to more happiness so what are the things that drive my happiness and should I start investing in those things now because when you're on the Hamster Wheel for ten twenty thirty years and I tell my kids yeah you do need to pursue economic success I can and I can with relative certainly tell you that the difference between making forty thousand dollars a year in two or three hundred thousand dollars a year in the tri-state area. You will be happier if you versus just sticking it forty but it's important written to be mindful of once I if you're forced to get to that point one of the things that Dr Happiness out of just pure pure economics an ally people do it <hes> and and I'm sure you know this it all comes back to one thing the you know all the studies show the same thing the Harvard grant studied the largest family of this largest longitudinal study of an history on happiness at all comes back to the same thing and that is adapt and number of meaningful relationships love full stop. That's the greatest first line of any academic DEMOC study ever which you referring to is this study done over eighty years survived three principal scientists because they all started dying and in the last principal scientist was charged with summarizing this eighty or study in the best for sentence ever and academic study. Eh Happiness is left Full Stop D._O.. At work feel respected in admired Denali that do you respect and admire other people do you at home feel loved and <hes> feel a sense <hes> phillips a sense of mutual support and do they feel love from you and mutual sport and then among your friends. Do you feel a sense of camaraderie enjoy and do they get a Santa Camaraderie into from you and the interesting thing was not only feeling it but feeling a sense that you're providing to other people that that's it's exceptionally important to happiness an longevity actually that's the caregivers live longer but that is it's hard to remember. Okay you develop economic success. That's that you can facilitate lubricate the relationships because it's upsetting to have to not be able the fried for yourself and your children. It's upsetting not to be able to help your parents. It's upsetting not to be able to deliver you WANNA live. It's upsetting to have economics stress. It's the number one source of divorce is not infidelity. It's a religion or not getting along its financial stress us <hes> but having the mindfulness to at some point get off the hamster wheel and say okay what makes me happy the and also I mean building what you were saying about money and sort of having a threshold looking at one side of the equations how how much we are <hes> you know. This is how we spend that you talk about you. Write about as well and there's actually research on it. It's the experiences is not the stuff you also shared. A story that I think on the surface of it isn't sort of doesn't have a layer relationship ship to how much you've earned yawn but really is underneath it. which is your ability to be with your mom in her final months as a thanks thanks for that up any touched on a budget stuff and so just segue into the book? I've a a series of equations that I review in the last session of my class which brand strategy facet of business school so none of this all of this is obtuse and not anything anyone asked me to do but the the session is well received and I try to still a bunch of these things down to basics successive equations and you mentioned three of them one is people constantly overestimate the amount of happiness they'll get from things and underestimate the amount happiness they'll get from experiences. So the the learning there has basic you know drive a Hyundai and take your take your wife to Africa Right <hes>. The definition of rich is passive income. That's greater than your burn so young people focus on their income adults smart people focus on their burn because I was in my father's rich my father between social security from him and his wife and his pension from the Royal Navy is forty eight thousand dollars a year and they spent forty. They spend no money and he's rich. I have an I'm not exaggerating. I have a half dozen two dozen friends here in New York make between one and three million dollars a year as as managing directors investment banks partners law firms and between an ex wife child support home in the Hamptons three kids grace church. They spend all of it. Sometimes even I'm and I'm telling you these guys can literally. I'm sure they wake up at in the middle tonight in a sweat you know what happens. If I lose my job what happens they're poor so you know the focus on the burn and getting to that right equation is hugely important and then the last thing you mentioned and I want to acknowledge. I was in a position to do this because I had some money. I worked for N._Y._U.. which was incredibly flexible in generous with me but when my mom got sick and it was just me and my mom going up it was literally just me and her against the world I thought okay I'm going GonNa do this right and I took a leave of absence from N._Y._U.? And I moved in with her at the seniors community and Summerlin Nevada which was its own set of experiences and decided I was going to really go all in on making my mom's departure Nice just says she had made my entry into the World Pretty Nice and there's a lot of research on how rewarding it is where I would say instinctively fulfilling to raise children but there isn't a lot of research on how rewarding it is to take care of your parents or contribute to the end alive and again. I want to recognize it. A lot of people are gonNA position do that. They have no kids of economic needs the for me it was. It's something that I you know I feel like totally virtue signaling right now but it was very rewarding and it was very strange time in my life because is during the day I was managing. Mom Healthcare is she decided she wanted to die at home. which has its own serious complexities and not being a hospital into <hes> at night I would go downtown to the Strip gets shitty drunk and party with you know entrepreneurs and strippers so my day in my nights were it was a very strange time in my life but <hes> something there's a sitcom in there somewhere but it was very rewarding to be that involved in my my mom's Oh a six months yeah were there any I mean during that whole window time with any moments or awakenings or conversations that just stand out as really defining how important it was for both you and her to have that that that time in that way together you know? I've always thought that if when people are your parents still around so when your parents go go slowly. It's tough on them and it's good for you is is nothing goes on set. I mean I remember I remember I I used to just sit next to my mom sometimes and I would get upset and I would tell her said I was that she was dying in a like a made her feel better that someone was her son was so upset you know at amount sounds ridiculous and she used to you know when we go over she would leave for me her her will and she constantly right post. It's on this legal documents saying you know you are like the greatest thing that's happened to me. I still have it the love you feel with your your kids and your parents. If for whatever reason you're in a position or the situation catalyze is communicating that it's just incredibly rewarding and you know those moments that is when you become a mortal. That's when like okay. I'm a blink on the cosmic you know eyelash but this blink matters ride 'cause the world wants to prosper the species wants to evolve evolve and in order to do that takes the most important actions and it makes them the most rewarding right so food sex come roderick cooperation all these things the most rewarding things and the secret to the species is people having an irrational passion and love for one another and so when you when you have those moments where you can communicate that I mean it has the most rewarding thing and I hadn't. I didn't have the ability to communicate that and my mother other didn't really either she's European. We weren't very emotive so that was that was sort of a blessing and very rewarding moments. You mentioned the same time you're like living this dual life. I know you eventually eventually married woman window. You Want to Berkeley with that didn't work out and you went into this window of sounds like you know intense professional success ends simultaneously <hes> personal chaos it was but it was chaos of my own making I'm Richard Kessler. I became an island. I was working in San Francisco working around the clock and internet companies pursuing money pursuing kind of Famer fabulousness in attack in a relationship primarily because I met a woman in college and we fell in love and went to business school together and we had a nice relationship but I didn't like San Francisco. I didn't like the Internet I didn't like ECOMMERCE. I didn't like myself. I didn't like being married and I just decided to press reset and I was in a position to do that because I had some money and also a lot of selfish lack of character as come to New York and see men in the young thirties with some money and think who were single. I think I want that life. I want that life. I was very selfish and we didn't have kids so it was like a bad break-up. It was like an expensive break-up not a divorce and moved out back here and decided to pursue you know changed. My life dramatically resigned from the board of the company. I'd started and join the faculty at N._Y._U.. Or have been teaching for seventeen or eighteen years yeah and strategy just became an island. I didn't want Fr- I didn't WanNa stay in touch with my friends. I didn't my mom was gone so I didn't have any family and I just became literally like a you know a caveman would occasionally leave for food or sacks. I mean that was an I would just stand my apartment into a little bit of work have kind of pretend jobs advising hedge funds in and it's like survival and I did it for a few years survival instinct kicked in because if you wanna die as a male just be alone you stop eating as well. You don't have much human contact. I'm naturally an introvert and <hes> you know fine on my own but something kicks in and kicked in and said like if I don't start reestablishing some relationships getting more engaged you're in the science here men die when they're alone they need women are better creating social contacts and creating social connective tissue issue. You know it's very easy for a guy just to kind of <hes> you know <hes> go into a cave and just slowly but surely the brain says all right. You're no longer adding value no longer hunting prager and only part of the clan you're no longer caring for anybody buddy and it stopped sending out that that hormone the close out the bad cholesterol so when when <hes> I met my <hes> you know second wife and was when my mom was sick part of it was either certain rules. I think you gotTA maintain. When you're taking care of parent you gotTa have a life of your own ice to leave every weekend you know because the unfortunately about death is he never she never shows when they're supposed to so it was like Oh this is it you know and then I would leave not saying I gotta leave and this happened like six or seven times that this was this was the last week wasn't but I met yeah and that time one of those weekends I met who ultimately be my wife and the mother my kids what was your mom's passing did that defeat that played a role in yours a reevaluation and openness stepping back into relationship and reclaiming different values at you know I think everybody goes through this stuff when they lose somebody I think the harshness and finite tonight nature of life hits you and it's it goes back to the book so happiness there is an Arca happiness and it's <hes> you know it's a it's a it's a free is a smile yet smile? You know kid year. Your youth is college football exploration of drugs in relationships spilling into adulthood. It's a ton of beer. It's just a ton of phone right and then he hit your mid twenties and maybe you figure out you're not going to be a senator or have a fragrance named after you <hes> you don't maybe live up to the professional success that right away that you'd hope for. Maybe your parents convinced you are going to have and I think more than anything. <hes> somebody know in love gets sick and is I think that at least for me was like the first I'm like wow life is harsh and it's finite and for me. It's <hes> it's kind of resulted in a heavy. Some people get religious prime spirituality. I found atheism which for me has been incredibly motivating because I think of finite sense sense of the nature of life is very motivating to invest in relationships today and tell people things and <hes> I think I'd like to think I've become not only a happier person but a better person and you know some people get unst it also can have a kind kind of a negative attribute on your my my my mom died and I think a lot of people experienced this when they lose apparent they get stock. You know they don't quite snap out of it. Sort of like you're supposed to mourn for like one of the rooms I have is running this equations. The key to success is your ability to mourn and move on everybody knows tragedy. Everybody gets fired. Everybody has economic stress but your ability to process it in the move on is a key component of success. It's like that Great Adam grant grant or somebody talks about. Here's what people think the line of success. It looks like an assist a stray forty five. It's not much scribbles in different directions but for me the the harshness and loss of my only family member was really devastating and it took me too long to recover from it and I realized two to three years into it that I still wasn't over over it and then I needed. I need help. I needed to speak to other people who are morning and I needed to Kinda snap out of it and engage with other people <hes> but I think that moment. I think that moment happened. Everybody faces tragedy so I don't think there was anything that unique about my tragedy or about losing my mom everybody loses parents but for me it was like it was very the seminal moment and my wife as I'm sure there's a lot of people finding amazing people to hire. He's really really hard. I have been through the process many times but there's one place that you can go. Were hiring is simple and fast and smart. 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De ziprecruiter dot com slash good or just click the link in the show nuts ziprecruiter the smartest way to hire <hes> it is also also as a driver for <hes> examining and really embracing the hero now which interesting because I think <hes> they they can cut either way you can either cut towards that or you can cut towards almost like net nihilism <hes> yeah and basically saying why like why bother here's no retribution. There was no judgment yeah yeah I think that the the atheism you know I prescribed to a tremendous respect for other people's beliefs <hes> and <hes> because that's kind of the basis to respect respect for nonbelievers right. I think there's a lot of closeted atheists out there and I was so closet I mean it's the fastest growing restaurant group. You're kind of independence right <hes> but I think that I think about this my kids a lot. I think when I'm near the end there's GonNa we appoint where I look into. My kids is not last time. I'M GONNA look at their look at them and that our relationships coming to an end that's profoundly sad but it's also really motivated. I think I got a little league more now. I this is it you know I think this kind of notion that are I you know get up and dance and tell people you admire them and and you know I think that's an and you know order the good one. I think you know I think that's A. He's a healthy where to live your life and not be too short term too selfish or whatever <hes> but yeah. I like to think that it's been a positive attribute. I didn't know that it's the fastest growing religion that nuns than non affiliated Oh <hes> okay basically people and and those are not necessarily atheist actually but those may include people who in some way shape or form consider themselves spiritual but don't adhere to any religious affiliation or pal or dogmatic <hes> scriptures <hes> <hes> but they are you know they're somehow connected to the greater consciousness <hes> before which is like Sam Harris about atheists also we consider himself probably in that group like there. There's a sense of connectedness to something larger and I and consciousness but it it is interesting. <hes> how that choice effective people I sometimes wonder whether adherence to more of a traditional <hes> or religious tradition leads a to me also and again a lot of the behavior teams that affected by that is well if I'm going to be judged after this then I need to live immoral life and into development at wonder if it actually it leads to more potentially moral decisions decisions but not necessarily decisions that would lead you to engage more fully relationships in the moment and being fully present and engaged whatever you're doing because that's not necessarily what's prescribed by in. It's almost sometimes the exact opposite about about you're just rewards coming moral constraint code or society to exist. You know we do need a code. I never used to behind a marriage now. I think it's probably a good thing because he'd without al marriage probably bail and and sticking with it as a good thing over the long term the happiest people tend to be ones who are in who were married with remarried with kids but I find an kind of goes to I'm thinking a lot about Masculinity Gill entity lately and I find that <hes> I found a my observations at the things that defined I got I think masculinity and I imagine embracing your gender. <hes> I think just embracing genders very rewarding and as as as as has an American male I think more about masculinity relate to it more obviously and I found that the things that drove kinda vines you swung on as a young man you know being kind of more professionally successful generally being awesome being ripped these work out a lot of marginal athlete in college and then I used to go to the gym not to be healthy but to just be fucking here trite and be ripped and just to be generally like a better partier than anybody more outrageous more fawn all those things made me feel manly and I got a lot of reward out of it and then as you get older as a man some kind of other things start some other vine start popping up being good neighbor. You know you like to think he'd do it for the right reasons but it also makes you show important <hes> it makes me feel like you're kind of makes me feel masculine. <hes> I think taking interest in the wellbeing of a child that is in yours is shows that you are. You know you're Simba. You're a lion caring you're so strong long and so good and so talented that you have the bandwidth and the capability to start helping other people voting makes me feel strong like bull. I just these masculinity hopefully over time begins to evolve and one of the things I talk about my book is it's difference. I think between being a boy a man is a what are these how can you embrace masculinity but the right type of masculinity and the that last part is really key yeah he's overseeing thing is this wing of the pendulum all the way to side for a long time but now I think at least there's a real say more what you mean by that meeting. What would be labeled these as toxic masculinity <hes> what would right now unfortunately it's an my view is considered all masculine? I think toxic doc masculinity have become redundant which I think is dangerous. I think there is a I think there is a positive form of masculinity and I think you know we're not good. We're not we're not society. That's good at ad capturing. The pendulum at the bottom of the middle doesn't exists so you can ever see it but there's a lot of really interesting conversations I think what it means to be masculine and almost all of them immediately connote something a negative reaction yeah. I mean what I'm what and I'm excited about it is that it seems like those conversations are happening in their happening more open way <hes> and they're also they're happening between people have different genders. Do you think they're happy. I'm curious I am. I'm asking to learn not to make a statement here but do you really think they're happening because my senses I go on. I do a lot park on T._v.. Lot I'm supposed to go on M._S._N._B._C. on Wednesday and talk about toxic masculinity and the thing I regret is that <hes> I think it's difficult to have an open conversation about it in a public format because if you don't sort of pile on and take on what I would call a very very progressive slash left view of that that has a heterosexual white male I'm sort of Oh already. Kinda guilty and I need to acknowledge shortcomings that unless you go that way. There's like a one ten chance you're gonNA say something stupid and your career is going to be fucked the so three things there's one M._S._N._B._C. so so many trying to have this conversation through mass media outlet. It can't be the way it needs to be had public short. It's so talking point also because what did you say earlier like what gets aired on those things <hes> the only thing that that actually gets aired on mainstream media is stuff that highly polarizing and and soundbites socialist right so it's got to be short which means there's no provocative right and polarizing and that because at draws eyeballs sadly that's the way our brains y unresolved so do I think these conversations are being had and can be had an in a genuine and constructive and nuance way yes do. I think that they're happening that way. On twitter on mainstream media even on some conversations and some more alternative forms of media yeah not a whole lot. You know what I do see is is in in more private forums in private conversations in small groups in the inner conversations that the question is being raised in a way where it's more genuine and where people aren't showing up with the intention of being dug in and trying to just force the other person to adopt their point of view but I think my sense is that a lot of people's heads or spending spending right now because we were raised in a culture that taught us this is the way that you are. This is the way the other person is and this is the way you behave towards each other and what we're now seeing is that all the assumptions the socially appropriate assumptions Chen's about the way to behave in the world and the way that we step into our gender identity <hes> are just what we were taught the not necessarily the way that it that leads to the best experience of life and the most respectful relationships and the greatest amount of human flourishing and yet were were struggling at. I'm raising my hand right now right. I'm just telling you what's on my mind because I was taught as a kid. What was quote respectable? You know what I'm learning as an adult. Is that the things that I have been doing my whole life if it's as simple as holding door for somebody whether it's regardless of gender regardless of h that I was just taught you the whole doors for other people and what I'm learning now is that that is sometimes seen as in front you know and then it gets that is really the simplest expression but my sense is that <hes> there's a lot more awareness us that we don't actually know what is the choice or the action to take which is respectful of other human beings and house of that confusion in a private way in a safe space. Were more open to having those conversations. At least. I think people who identify as mail are more than having this conversation. My sense is that <hes> most others have been more up into this conversation's for a long time but I think in particular people who have sort of adopted a hyper masculine Glenn <hes> male identity and not been open to that conversation and the nature of what's going on like in our culture is kind of really forcing you to re examine a lot of your assumptions that took you to this place in life at least for me you know and sometimes it's say I want to I wanNA move into the world and be kind like that is about might like my ultimate goal within the conscious about the just want to be kind and the confusion comes when I don't necessarily surly understand what that means from the behavioral standpoint. I think that's leading to some interesting pain but also conversation in the right place in the right way and there's a unfortunately there's no calibration so we've conflicted would would I would argue or the media's criminal behavior. Some of the behavior that has taken place in professional settings is not even it's not even inappropriate. It's not a more it's criminal and then there's and then you here but it's and then you hear about other things with us. We're going Joe Biden and it's all conflicted. It's all part of the same sort of toxic quote unquote toxic masculinity and I don't quite frankly I don't I don't buy that you are questioning whether the opened or not down opening door for women I think I think that's one hundred point and if someone says do you know what I was raised without his in some ways intimating or communicating. I'm not as strong as worthy. Please stop doing it. You would say fine but don't shame me and I don't don't take take Johnson. I'd he says the gestures should be received with the intention they were given bright but the intention of the receiver is that you've just offended me or you've just diminished me sure <hes> in the context context of our our relevant relative power and or if you make an assumption about the the gender identity of that are the person and that then causes you to behave as sure way and that's why I'm saying I am genuinely in a space where I am just reexamining everything but we're we're in a situation though where if you're going to hold doors open for people. Let's assume you're going to offend some people. You're going to screw up every once in a while it in the wrong situation. I think it's still worth the risk. It's still worth the risk because when we moved to this general neutral society where anything can be a micro aggression or a trigger we stopped being almost like human. It's like we're trying to sound off all the rough edges. It makes this works of art as opposed to just balls all look ball bearings and there's some stuff that you know obviously use your common sense. Don't ever physically intimidate somebody. Don't you know I occasionally. I shake some guy's hand in it's like he's literally. China ripped my hand off. Do what's going on here but it's an interesting conversation I would argue. It's just starting to be a conversation. It's mostly been collar revenge but I think women have had to navigate such bullshit it for so long in the workspace they finally that they have voice. Finally they have some power. <hes> some other dynamics going on. I think the mainstream media is in the businesses shaming people because there's effectively what have a call saw revolution going on with middle class as gifts gotten the crack kicked out of it so badly for thirty years that they are now going after people they perceive as wealthy and powerful shaming them. There's a there's an industry in that <hes> and the majority of people watching ad-supported media now are from the lower middle-class Kaz advertising has become a tax it only the poor the technologically literate have to pay so you have these entities that are basically in the business of kind of what I'll call you know shaming traditionally powerful cohorts awards and it doesn't. I don't think the lead productive conversation the though it's interesting I think I would agree that. I feel like we're in the very beginning of this <hes> in the second ending if that if that but what what I do believe is that <hes> even if the conversations aren't happening in the way that I think the most constructive way right now <hes> the fact that they have begun and they're starting to broaden <hes> I feel I get some point like whoa find our way to humour constructive shape <hes> how long it's GonNa take <hes> but I feel like at least the game has begun in a in a better way so we'll see where it all leads to circling Kinda. Come full circle so you're York now. You're married. You got a couple of kids <hes> and teaching at N._Y._U.. Still Doing Business Consulting <hes> when you think about as as a partner in life and as as a parent mum the world that you want to live in and also <hes> on some level `create kids to limit to what do you feel sort of the most important elements you know <hes> a lot of what you said really resonates. How do you give your sense? How do you give your kids this chocolate peanut butter of grit and drive and competitiveness and wanting? I do believe in capitalism that inherently involves winners and losers. I think people who are better work. Heartache more should get more at the same time how do you how do you ensure they develop a really strong sense of empathy and kindness and there's so many things that are that are set against them. I went to public schools. I had rich friends. I had poor friends and we're just all better off for it. You know we all saw we all empathize. I aspired to be more like my rich friends and I saw they were going to grade. Schools thought all smarter than me. I can go to a grade school and at the same time <hes> when my closest friends was a black kid Ronnie Drake was middle linebacker and his only way out was athletics. That was his only way out. That's the only way he was going to college and I think I'd like to think I developed a a sense of empathy for kind of his upbringing and the obstacles he had to overcome. So how do you does the two things you want. I want hungry hungry. Kids focus on evolutionary progress August wanting to be better than their their parents competitive. <hes> you know at the same time I want you want really empathetic kind kits and I don't sometimes those and <hes> or direct opposition with each other but I'd say that you know grit written empathy is that also the reason why you devote the last class in Your Business Grad school course <hes> an entire book now to serve Zoom Zoom Lens out from business in saying. Can we talk about life for a moment. Yes so it's it's it's. I mean quite frankly. It's sort of a commercial <hes> process the I've only does my second book book and my processor coming up with books is pretty straightforward. I do a class so I did a class on the four platforms Amazon Apple facebook and Google it was the most popular class I ended a video on it. The video got a million views. Okay I can turn this into a book. It's sort of like my screening might test might be tradit- if you will and then the last class the Algebra happiness did a video got stimulus okay so this is what I'm going to do as a second book. I'm not trying to I you know I I'm not trying to make the world a better place. I'm not even trying to make them better people. I'm trying to respond to the fact that kids initially think my say kids they average age is twenty-seven they come to business school because they want to develop the currency for economic success and economic opportunities mostly professional but with the really coming from at least that's what I think they think they're coming up with a really coming for is they wanna be happy and they want to develop a narrative satisfaction in life in a capitalist society. Professional success is usually a pillar of that so we kind of cut to the cut to the chase cut to the ending of the movie. What is let's assume most of you are going to achieve some level of economic success the average salary coming out N._Y._U.? Stern School of business one hundred twelve thousand dollars so if you're just average at twenty seven year making one hundred twelve thousand dollars so that may not these kids have much greater ambitions in and there's a lot of money on any relative scale. That's a lot of even in New York. That's not about about living right so then the question we goes okay. Why are you really here? You're here because you want imagine your last ten minutes ten months ten years of your life and you look back on the Ark and the narrative narrative that Israel life how you're gonNA feel about it and how do you make the investments now in developer code now such that when those last ten minutes ten years pop up and they're going to be here the one thing I'm one hundred percents or it's GonNa go faster than you. Thank I mean remember. I literally remember getting a college. Remember moments and I just blinked in it's now. I just can't get over it so I say these kids. What are the things you can do? What is the code? What are the our them sort of the equations? You could start following following now that increases the likelihood that when you're at that point you're GonNa look back and then okay. I didn't check every box but I I had my pan out and I feel pretty good about what's happened. Man feels like actually really good place for us to sort of start to come full circle so hanging out here in the context of this podcast called good life project you if I offer at the phrase to live a good life comes up to live a good life. Is I think is to feel like you have a goes back the grant study. I don't think anyone at anyone's funeral says he was to kind he was too generous. I think it's impossible. I don't think anyone ever complains. We gotta take care of yourself. You Got US fix your own oxygen mask before you fix other people be successful but no one ever complains that this person was too generous into kind and you WANNA put yourself. I think business school should put yourself in a position economically to do that for yourself. Such a your got your oxygen mask is fixed so then you can start a fixing mass to other people and lead a rewarding life of all those you know as you said. Happiness is love full. Stop thank you thank you thank you so much for listening and thanks also to are fantastic sponsors. WHO help make this show possible? You can check them out in the links we have included in today's show notes and while you're added if you've ever asked yourself what should I do with my life. We have created a really cool online assessment that will help you discover the source code for the worth eight you're here to do you can find it at sparky type DOT com. That's S. P. A. R. K. E. T. Y.. P. E. DOT com or just click the link in the show us and of course if you haven't already done so be sure to click on the subscribe button in your listening op so you never miss it episode and then share share the love if there's something that you've heard in this episode that you would.

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TikTok, Time's Up on Facebook's Content Moderation Sites

Pivot with Kara Swisher and Scott Galloway

33:08 min | 1 year ago

TikTok, Time's Up on Facebook's Content Moderation Sites

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This is pivot from the vox, media podcast network. I'm CARA Swisher, cheesy Newton filling in for Scott Galloway this week, such a difference. You are not like Scalia in any way whatsoever. I'm a fresh face on this podcast fresh face. I knew of air has one of the key part of why we brought you here. It's a whole new look. So four podcasts. Yeah, it is absolutely case news. Okay. So you're in New York you live in San Francisco actually at my house, but I do. And it is I now have to fly like twenty five hundred miles just to see. I'm very busy lady. That's. Trip. Yeah. Yeah. So you're in New York this week. But you just you just got back because you, you broke a big story this week. You saw the code conference, and then you were going right to Tampa. So that's right. So for the past four months, I had been talking to current and former moderators for Facebook worked at a site in Tampa Florida and or the end of the reporting process, three of them agree to break their nondisclosure agreements and go on the record, they currently working, they're they've, they're formerly worked there. And they were willing to come forward and kind of describe the working conditions there. So we flew there with a video crew. And we made a video and story published yesterday on the verge all right now, it's about Facebook moderators at Tampa, but you had previously written about in Phoenix, and they broke their nondisclosure agreements and working conditions and a company called cognizant. It is not Facebook, but Facebook contractor. And so this is follow reporting. So talk about the old story and then how you found the new story. Yes. So in February wrote a story called the trauma floor which was about the secret lives of. Facebook moderators in America. I reported that they make about twenty eight thousand dollars a year. They often leave the job with post traumatic stress and just the working conditions on the job can be really rough. There's a lot of fears about personal safety in the office. The physical conditions can be kind of gross and after I wrote my story, I heard from moderators all around the world by her more from people in Tampa than anywhere else. And so I thought I've got to go out there and, and same coming on. They both worked for the same contractor. Facebook uses a handful of these big professional services firm. They also use censure and Jen, pack, but I just happened to hear from a lot of people who work for cognizant. And so I thought I've got to get out to Florida and see what's happening. Cognizant is a contractor. It is hired by Facebook to, to moderate content. So if you've ever seen something on Facebook or Instagram that you don't like you can click a button to report it. And once you do human being has to review it to see whether it should stay up, or come down Facebook, writes the policies, but these moderators have to decide moment to moment. Does this fit the policy or not how many of them? There are about fifteen thousand of them around the world, working at about twenty sites. All right. And how many clips are reported? These are just what's reported with his flag. Not what it could be bad and never flag. That's right. And a lot of the content that gets flagged is totally benign, but I don't know how many posts get reported a day. But I know that they want moderators to be taking action on at least two hundred and fifty post today and the really high performers will look at, like four hundred a day. So this is this, they vary in length Varian. They could be pictures that could be videos there. That's right. And in Phoenix at tended to be a sort of random hodgepodge of things. But one of the people who went on the record told me that he was put in a queue, where he almost exclusively saw hate speech in graphic violence for eight hours a day. And this is a sensitive guy. He's an animal lover volunteer at animal shelters, and every day he would come to work, and he would watch human beings and animals dies in the worst way, maginal. So he was ultimately diagnosed with PTSD and they. They have to watch it and then flag it takes. They have to watch the whole thing is that correct? For most videos, they have to watch at least fifteen seconds on sometimes thirty seconds, sort of enough to know and Facebook will try to highlight the section of the video that might be problematic. But, you know, one of the things that moderators have told me that they're frustrated about, is that the same videos will get posted over and over and over again, even something that they've seen in. They know it's horrible. They're going to have to watch thirty seconds of it again again. Because face can't for some reason, maybe it was modified in some way. And that's the problem. Yes. People can trick the system gain our system. That's what they Alex. Jones is doing it all the time on all the forms. Right. Info wars is everywhere forms. And even though he's been banned. Yes, they play this game of cat-and-mouse and they're very good at creating new accounts, and evading these bans, but yeah, these modified videos, really give Facebook a lot of trouble. All right. And so when say them thing in New Zealand murders in New Zealand happen. Those Facebook pulled down themselves, correct. They did a mix of automatic and manual review of those videos. They were under enormous. Pressure. Australia's like passing laws. Basically holding them criminally liable for not pulling these videos down. So they were hugely incentivized to take down these videos as fast as they could. But they're AI systems would just get tricked and really rapidly built up new technology to for example, detect, if the audio is the same, maybe even if the video has been modified, you take it down. So as much as they like to say that, you know, hey, I will solve all of these problems in this day and age like they're just not there. And there's a lot of people having to do the manual worker. It's super interesting is that they then put it off on people. They don't pay very well, because people come there's an ad like what does it say moderate Facebook, videos, or generally says it's like social media analyst, which appeals to a love like journalism students. Honestly, we'll like player this job because we'll think, oh, like it could be kind of cool to work for Facebook. And so they started doing this job, and they realize it's maybe different than Twitter and the others have the same. Yup. Twitter and Google and YouTube all use similar systems with those companies though. A lot of the labor is off shore. So one. The reason why I have made less progress in, for example, figuring out, what is the situation at YouTube is because the work is being done in India and other places right? Yeah. Right. Which is, of course, exactly what they're gonna do here. All right. Well, so Facebook brought moderators to America because they thought American moderators would do a better job understanding our slang understanding our culture. So they would kind of have the context needed to moderate our posts. But it's funny because you talked to some of these moderators, and they'll tell you actually not that, that's not the case, and that there will be people sitting on the Florida's asking, like who is Malcolm X, you know, or who has Joe Biden who is Ted Cruz. Right. So they don't always have great question later in the podcast, William's question. Yeah. So let's hear some of these moderators tell us about their working because one of the things you wrote about was working conditions, which some of the stuff was, like fingernail clips and blood, and it's really gross stuff. So they don't have offices to do this dirty work in. So they've decided to have a dirty office to create dirty work. Does one way putting it. Yeah. Yes. I mean, the Phoenix office is currently dealing with a bed. Bug infestations at the Tampa site of the bathroom is routinely found smeared with feces or menstrual blood. You don't get your own desk at this office, you sort of just go pick a new workstation everyday based on what's available. And so, you know, people don't treat the dust. Well, so I talked to moderators to come to their desk, and they find fingernails or they find Boogers on their desk. And you know this is hard enough to begin with. And then you're just working in office, that is filthy. Okay. All right. Let's hear the first clip in this, first clip, the moderator describes a site with policies and restrictions that sound very similar to the Phoenix site. You sat at your desk, you put on your headphones, and you worked all day no one came to comfort you. If you are upset no-one came to talk to you throughout the day, if you turn around to talk to a friend, you were being screamed at for not looking at your content and doing your work. They say all the time, okay? We have these counselors here to help you, but we've got nine minutes of wellness every day. So I'm supposed to go talk to this counselor about the five hundred videos. I've looked at today in nine minutes and. I'm supposed to be okay. It doesn't make any sense. It doesn't make any sense. It so great. We're putting. So they've nyc Wayne how much time they have off. Yes. So in a given workday, they'll, get to fifteen minute breaks a thirty minute lunch and this nine minutes of what they call wellness time, which is the time that you're supposed to use to recenter yourself after you've just. Or whatever. Yeah. Yeah. And you know, as Melinda says that video, it just doesn't feel like enough like I've been to two of these sites now and they love to point out. Here's the ping pong table. Here's the basketball table. Here's where we do yoga, and it can even sound fun like what a fun cool Silicon Valley started to work at. But then we've had nine minutes to play ping pong sound very much ping pong. Right. Or if you want to talk to the counselor it's nine minutes, you know, isn't very much. You talk to counselors, I talked to counselor in Phoenix. Yeah. And, you know, the counselors got mixed reviews I have talked to moderators as counselors do great job. They're very helpful. I've talked to others who said, you know, the counselor did not help me or, you know, the, the biggest problem that pays because had is that the counselors are not available in every shift. So you know are you having a bad night? Well, maybe the council doesn't work the night shift. So that's just kind of tough for you Facebook, aside, they are eventually going to bring counselors tall shifts which aren't good. But it's like it's, it's a workplace, of course. That's arguably the traumatic enough to jobs is the content and the moderate have to watch. Sometimes hundreds of a day, and some of the contract is truly disturb. Ding. And we should warn folks at this next clip has descriptions of child abuse seen videos of a babysitter. Shocking a toddler to in the giving bloody noses to babies. And it stays in nobody does anything and it just it's just there, it's always there in, you have to always look at it, you always see death every single day. You see pain and suffering. And it just makes you angry. Because they're not doing anything and the stuff that does get deleted it winds up back there. Anyway. All right. First of all, why aren't they? Giving these the police. That's another league. You're sort of, like, why are they letting people do this? Right. So inspired excuse Facebook for letting people do this in the first place. So, I think if as we were here, they would say that we do escalate content to law enforcement when it is clearly breaking the law, you know what I think Sean is expressing his frustration. Is that even if they escalate something to the authorities, the video is still going to get reposted or some of the crimes that will be uploaded or videos of things that happened fifteen years ago? Right. And so the authorities can't even really intervene anymore because it's like, you know, the, the point is mood. But if you're in this job, I can understand why it would just come to feel pointless, because it's like the Sicilian task where, you know, you're trying to scrub scrub the internet, and keep it clean, and, you know, the, the spots just kind of keep coming back and why does he's going to have a platform or this stuff gets posted? We'll Facebook wants to have a place where people can talk about whatever, and they don't wanna have to have a lot to say about. About discussion, right? And as we've seen the more that they intervene, the more conservatives complain that censorship is happening. And, you know, they've lost their, their constitutional right to free speech. So I think Facebook sees that as a political problem. And if the platform were really restrictive about speech, I think they worry that it would open up ground for a competitor to come along, and say, well, we're, you know, we're a free speech party, you know, we should also say that, these companies are American companies, they grew up with free speech values. They wanted to create a kind of Similac rim of American society, where they're not a public square. It's owners are billionaires. I okay. Yeah. Fine with the public square. And by the way, you get arrested for some of the things I agree with you. Here's the problem. It turns out that the rule that everybody wants is take down the stuff that I hate and leave up the stuff that I like. And so it's fun to have those arguments, but like you can't build a company like that. Right. Like you have to write down, what the rules babysitters joking children precisely what group is for that. I don't think anybody is. And I'm and I'm sure it's against Facebook's policy. Right. So I just it's like that it gets there and there's a lot of it more thing they always use his one percent thing. And I think it's not true, right? Well or another. You know, ask yourself is, you know, should you may be put more requirements on people before you allow them to upload a video, right? Like, maybe there are certain actions that you take on Facebook where we need to know you better and trust you better. Well, how do you do that? Well, I mean, for example, you know, maybe you're account has to be a certain number of days old. Maybe you have to verify the phone number and Email address. Right. There's just certain things that you could do to get to know a person a little bit better in a way. So you could hold them accountable, if they're you know, uploading literal crimes on Facebook, right? And also just creating an atmosphere. I just I just I can't even imagine thinking. That's okay. And making money off of it. It's and then also subjecting, these people who you're paying very little money to an again, twenty eight thousand dollars twenty thousand eight hundred dollars is the starting salary the starting salary. Yeah. How do you how do you go upwards in this terrible job? Most of them, don't most people I talked to were there for six months or year, and then they're gone. That's another issue is people. Yeah, there's a lot of churn, which, of course, there's a lot of churn because, like who'd want to stay working, and he's working conditions. We should say Facebook, aside, they're going to give all these people three dollar an hour raise, but not until next summer. So most of the people, I've talked to you will not be at Facebook. When those raises what else can they do to make it better? Well, I mean they could clean the bathrooms. You know what they ultimately do to make it better as bring these people in house. 'cause unite both now these people were sitting next to Mark and Sheryl. They would have clean bathroom. Yeah. Right. They would have really good benefits there would be counselors there at all hours of the day. They would be able to afford really good mental the Kabukicho stand to them. This is a quick almost had dental story. I talked to a moderator who's, you know, working in his filthy conditions, and he goes to, like Facebook off site for training, and he sees this orange juice machine and it's incredibly beautiful and someone Facebook like either tells him or he goes up and looks at up afterwards, and the oranges, machine cost six thousand dollars. So it's like half the annual salary of one of these moderators has been spent on making Orangina case you have to have your fresh French, I do certainly. Work whenever I go to this place. I'm always like, are you freaking kidding me every time? And never, like I think they're gonna get me this time. We'll see it is in that you see company expressing its values. Right. It is very important for the fulltime in police to other sixteen thousand dollars orange juice. And if we just hired you through a contractor. Well, you know, we're just gonna leave it to the contractor to decide how to treat you. Right. Right. So they, they have let this is a big issue in Silicon Valley. The contractor issue it is it is huge Dhabi's. They're like. Is it is a caste system? Is erica. Right, at least at this company, and they use them quite a bit flows. Facebook, and Google all of Google more than half of employees or contractors. Right. So, and they and they have separate badges, inter treated separately. Don't get the fancy food. And it's really if you're a red badge you better get out of this cafeteria sneak into Google do this all the time, too. Well. Under often in the vents just listening. Exactly. All right. We get back. We're going to talk about wins and fails is a piece of Casey did. It's very worth your time. It's very disturbing. You have to walk away from the peace. It self is about Facebook moderators in Tampa who broke their nondisclosure agreements to talk to Casey about working conditions of employees cognizant a Facebook contractor, it's super disturbing stuff what they have to face as a job and then the conditions they work in and the crappy pay. They get. And Casey is doing public service by by revealing this, or they are what will happen to these people. Nothing. You know, we don't know there is pretty good law that people have an unequivocal right to discuss their workplace conditions and to attack people or sue them for discussing the workplace conditions as violation of their I meant. Right. So my strong hope here is that absolutely nothing happens other than more attention gets paid to these paint. And what's your where are you going? Next go abroad. I very potentially could go about. Honestly, what I want to do next is, you know, there are people inside Facebook, I think that I'm bidding beating up too hard on Facebook because this system existed, other companies and well, but what I will say is I do want to tell us rate YouTube, and I do want to tell the story at Twitter, so my right? That's their excuse. It's I mean they are haven't said stuff writing about it. They have just said, you know, it's not just us and they're right about that. So, so I do want to go kind of see what the story is. Twitter and Google also does content moderation away from YouTube clear. It'd be slightly different is, there's not as much I just hard isn't moderate. It's for Twitter too, like they have a site. And Budapest, I've been hearing things that are not good. So there's a lot lot lot to keep to forty characters to do it in I and some videos, right videos. The people do upload videos, and, you know, I mean Twitter's are so inept at so many things that a lot of horrible stuff gets through. Yeah. Yeah. No, I know my senior mentioned exactly. All right. When we come back, we're to talk about wins and fails with Casey Newton of the verge. Here on pivot. We're talking about technology and the influence. It has on so many different industries business media advertising politics industries full of jobs that call for a wide range, skill sets and areas of expertise and hiring for them used to be hard, multiple job sites. Stacks of resumes. Confusing review processes, but today, hiring can be easy and you only have to go to one place to get it done. Ziprecruiter dot com slash pivot. Ziprecruiter, send your job to over one hundred of the web's leading job boards. But they don't stop there with their powerful matching technology ZipRecruiter scans thousands of resumes to find people with the right experience invite them to apply for your job as applications. Come in ZipRecruiter analyzes each one in spotlights the top candidate. So you never miss a great match. Ziprecruiter is so affected with four out of five floors, you've post ZipRecruiter get a quality candidate through the site within the first day. And right now, our listeners can try ZipRecruiter for free at this exclusive web address ZipRecruiter dot com slash pivot. Ziprecruiter dot. Com slash heat. IV OT, ZipRecruiter dot com slash vivid. Ziprecruiter, the smartest way to hire. This episode is also brought to you by AT and T business, the products, you use demanded your business should make you more competitive. Not slow you down. That's exactly what happens when your business technology is silo edge to edge intelligence from AT, and T business gives you the power to see every corner of your growing business so you can make your next move with near real time information on everything from inventory to cybersecurity to customer feedback. Whether you're collaborating with remote teams to introduce new products to market faster managing your fleet so you can out deliver your competition or monitoring network bandwidth to meet spikes, in the man etched etched intelligence gives you the edge over the competition. It helps you see opportunity adapt available resources and pursue the ideas that will grow your business. That's the power of edge to edge intelligence. Learn more at ATT dot com slash edge to edge. We've arrive are wins and fails segments of the show, and usually Scott, and I talked about stories from the news this week, who screen up and who's getting it, right. I thought we might switch it up a little bit this week with you here. Let's talk about companies you covered in your newsletter. Which is called it's called the interface at the verge dot com slash interface. And I read it four days a week about the kind of the intersection of social networks, and democracy, sin amazing newslink. It's really great. And it's very funny. Parts of it are funny. So bad someone very able analysis. There's a lot of an allies izing try by Casey Newton. So let's talk about the companies, you've talked about obviously, the fail for Facebook is this. Yes, it's one. They've had so many, but what's a win for them this year this week? Or so. I think a win for them this year. Is that Instagram is having a really good year like my predicted at the start of this year, that this was going to be the Instagram reckoning, and now that the founders were gone, and, you know, coming on Mike we're gone, people were going to sort of look, take a closer look. And instead, all of that scrutiny is gone to YouTube. And so instead in Ceram has thrive. They've introduced some commerce features like it is well on its way to becoming a kind of, thriving social commerce site. And yet people still use it people still like it, it seems like it's growing really quickly. So I think Adam Seri has done a good job of just kind of being a steward of Instagram and something that could have been like a black eye for them this year. Looks like it was what about the problems at Kevin, and Mike had, you know, I mean so there's too much integration with Facebook. Right. Right. So I think Kevin and Mike really wanted to lead that independently and kind of create almost a different version or different vision for social networking, and Mark Zuckerberg had no interest in that. So I do wish that I could take a peek into the alternate universe where Instagram is still an independent company and just see what the difference would be. I think it would be great because we'd have so much more competition. We'll get spun off. No, because I don't have any faith in the US government to take meaningful antitrust regulation. But do I think it'd be great if it were spun out? Yeah. Actually do. It'd be interesting. Yeah. I mean look like the competition is good. Like, like all of Facebook's best ideas from the past five years. Come from Snapchat a match. Imagine. If there were five other Snapchat is, they're probably a lot more good ideas. Exactly. Exactly. All right. So we but we, let's go to Twitter win fail, which one do you wanna do? I sure a Twitter win this year that I hear it's sort of abstract. But here's what I'll say Twitter as a company has long been to intro. It's the company that can't like tights shoes straight. Right. Right. But it feels more vital to me today than it did three years. And that's really surprising. Right. Facebook, Instagram YouTube either feel about as relevant or slightly less relevant that they did three years ago. Twitter is vital. Twitter's absolutely everything is happening. Often journalists journalists are all glued to it. But so like, so much of national politics is happening via Twitter. Diplomacy is happening via Twitter. So that is the bright spot for them. Is it is just it is vital. And that, you know, will allow them to try to figure it out. Tie shoelaces. Yeah. Okay. So that's an interesting choice. What about there? Fails. For me, there, fill is that it is like the Jack Dorsey podcast tour so they decided that they really wanted to be transparent with everyone. Our favorite word, we just want to be transparent. And this are transparent is a well, when they open their mouths, all they tell you is that they're thinking about it. Right. The thinking about everything. Oh, hey, what are you guys do that? And that's a great idea. We'll do it. They will concede any point. They will cops every idea. Everything is a good idea. They should do everything they should try everything. That's put so the long term effect of listening to like, you know, nineteen Jack Dorsey podcast for me is has been to undermine my faith in the company because they don't have a strong vision that they're presenting typically it's just like, yeah, you're right. That's about it. We should fix that. You're so we'll do better. Yeah. So better to me, it's just it's not working stop the podcasting stop talking and start shipping. So what would you like to see? Besides an edit button, which would, you know, most of their problems are problems. I would like to see them. It rate the product is Bassett's, Instagram, does like look at Instagram and just how quickly they out new features Twitter should be exactly the same gives us new little witches to play around with to try, you know, keep refining the design. I know they've been thinking about doing some stuff around, like ephemeral post like kind of Twitter stories with love to see them try that there's so many tweets that, you know, should disappear after twenty four hours. So I just like to see them keep like experimenting with the court product and see what else might be there. In addition to the obvious stuff, like, you know, continuing to work on a harassment and abuse speaking of that. How are you liking Donald Trump's use of it or Heo sees or of big name? I mean is an absolutely incredible. A plus foyer go about fighting and Todd. Oh, she's good at she's, she's just mastered, that medium in a way that, that I find even if you don't agree with their politics know, and I probably mostly do. Like I just think she's an incredible tweeter. Yeah. Don't Trump not good. But still using it. Well, yeah. You know, it uses it. Well, but on the other hand like has opened concentration camps in America. Sorry, nothing else. So let us ask you a and I'm good with that were to Chuck Todd. Isn't would you what would you say about? Well, you know, my favorite is, is George Conway, as you know, he's a very good Twitter's various driven. I was I'm thinking during column for the times about what would happen if Donald Trump didn't have Twitter, what if they just suddenly kicked him off just and then whatever took the took the heat? So everybody go to Casey. Who knows? I mean, he would he could do Facebook checked skin. Here's the thing those, like, here's what happened. He would go on some of their website or platform he would do a post there. And then it would immediately be screen shot it. And so what set up a bought on Twitter and the not would get posted? Right. So people think that if you ban Donald Trump like we'll stop hearing from it. It's not true. Like the man has tens of millions of dollars. And wherever he goes, somebody's going to take that and they're going to put it on Twitter. Right. So unless they just say like you're not allowed to tweet about the president of the United States of America. You know, Trump will be with us on Twitter, right? You know, it would remove interest. Thing like immediacy to his, any, yes. An argument is like better to hear. What's on his mind? You know, I think it's, it's actually up to the press to do a better job of kind of throttling down coverage when he's clearly just, you know, talking off the top of his head with no information frequently. Yeah, okay. Good point. That's a very good point. Thank you answer. That is excellent. Thank you. All right. You to fail around the harassment of. Yeah. Youtube, you know, has a policy that says you're not allowed to say hurtful, things and decided to leave up a series of videos by a guy saying, really anti-gay things about one of our colleagues productive. It was fairly quite targeted. Yeah. Yeah, I it was really bad. So they need to start enforcing their own policies or change those policies to explain you know, why that suffers a lot. Right. And then any wins, I mean, what is a YouTube win this? So again, I think he has had a really awful. You're, you know, in a lot of ways, I mean, the FTC is apparently getting ready to find them. There's all kinds of. About stuff with you to kids, you know, in addition to the stuff going on with the LGBT community, but the win for them is YouTube continues to just displace TV for a generation of people. Right. My kid watches you to bullet. I, I want you to all the time, right? Like Maya job experience, by the way, great. I am your kid. But, you know, I go on YouTube see cooking videos. I see video games. See stuff that I like it's a great way to just like relax and pastime watches news. You're watching video game but isn't that so intr- it would never occur to me watching news on you? He watches the news all the time and documentaries and everything. Yeah. There's, there's a lot of most about about Syria. He goes to you two three goes and pretty good stuff. I was watching some of the stuff y yeah. I track him not you. Well, yes, it would be weird. If I was talking to, but I track you. Oh, thank you for not doing that. Yeah. Yeah. I mean I could make my facial surveillance. So so, so there's good stuff on there there. There is so much more trying to make the point at code. And it's like that's not a winning argument for her. But, you know, you can't deny that there that YouTube continues to grow as you know, the primary place where people are consuming video so competitor, what did they spun off? It's the it's I, I, I would be interested to see what would happen, if it did spin off as a public company, although that is one where I don't immediately. See how it would help. I think the, the cost of starting a new video platformer so enormous. Right. Don't forget, that YouTube almost got torpedoed by Viacom lawsuits that went on for a decade. It seems like any new companies starting up is going to have to figure out how do you identify copyrighted stuff, you know, how do you comply with the millions of laws that have been passed around the world, you know to, to deal with this kind of stuff? So YouTube is like, I think the most powerful and coming in the world at the same time, like video exists, if you hate you for some reason, you could just post on video like so there are alternatives that are legal and forthright. Unlike not. Sketchy rushland sites. Okay, so fair point. All right. All right. So last thing predictions, my made a Casey Newton our prediction. Here's my hat Scott's pretty good at predictions. I don't wanna put any well in the so I was going to predict that Amazon will buy whole foods. Prediction alright. Well, a new prediction is, I think tick tock, which is, you know, this fast growing. And so it's a very fast growing of video based social network, kind of like vine that was relief fund features that has just taken America by storm. It's owned by a Chinese company called by dance. And I think tick talk in the next year is going to get caught up in the US China trade dispute like like the US government has already started to take action against social networks, that are popular in America, but owned by the Chinese government such as grinder, I think tick talk is going to face the same thing like as writers didn't even his is by Chinese company, and now the US government is making them unwinded, because it's actually a national security issue, because you, can, you know, if you know sort of who's gay in the US government, maybe you can blackmail them, right? So anyway, there's a lot luck going on there. But I just think that ultimately, it will prove untenable, at least in this moment in time for there to be super popular. China owned social network in American Chinese companies have not made incursions here in the same. No, but I mean and take on has been the most successful. Right. But ultimately, I just think they're going to have. Kitchen. Yeah. And they're collecting a lot of data already. See what the US government is, you know, sort of taking a really stern look at China made a drones. You know there was the the grinder thing that I mentioned. So take the biggest maker of Jones is a Chinese company. That's right. DJ. And so, they're so ticked off has had a charmed life. But, you know, given that everything that does explain about China and the fact that every social app is a fat anyway. I just think like a year from now, I would be surprised if take talk were as vital or popular. All right. Okay. That's an excellent. That's one was was the drone that on shutdown of Chinese Joan that we had there. Knows. All right. Casey, thank you so much. I urge you to read the story is on the verge it is called bodies in seats. Yes. Which is if I going to say real quick, the reason that it is called that is because a woman who worked there said to me, we were nothing at all to them. We were just bodies in seats had is correct. And it's a terrible job. They're doing a an important vital job and also terrible job. They're doing a good job at a terrible. They are they really are. And thank you for doing it, and we'll see more from Casey. Newton on the verge Casey. Thank you for coming in, and replacing Scott, I was happy to pivot, pivot. Anyway, Camille Salazar produced this show, his shot Kirwa is pivots executive producer. Thanks. Also to Eric Johnson. Thanks for listening to pivot from vox media. We'll be back next week for another breakdown of all things tech and business. We love hearing from our fans on Twitter, and in real life. If you're one of those passionate fans, please tell a friend to subscribe, your recommendations really help us grow the show. Hi, it's CARA. I want to tell you about the newest season of the thread, a podcast from Ozzy that I think you'll enjoy the summer marks the twentieth anniversary of the nineteen ninety nine US women's World Cup. One of the most memorable moments in sports history. There are other podcasts about the World Cup. But while most cater to soccer fanatics thread goes beyond the sports altogether. Highlighting, the women who paved the way from Brooklyn teacher, who helped pass title nine to the black gay civil rights attorney who made that possible. Go check out the newest season of the thread by Ozzy on apple podcasts or on your favorite podcast app. This week on switched on pop. There's a new version of Aladdin in-theatre 's, and people are not having they are upset about the new live action version of prince Ali a sung by Will Smith. But maybe not for the reasons you'd expect Charlie. And I break down the musical differences between the nineteen Ninety-two original and this new live action version to understand why whether you know it or not everyone is a music theorist. I'm using colleges. Nate Sloan subscribe to switched on pop wherever you get your podcasts. And we'll see you every Tuesday.

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California is regulating consumer data privacy, the gig economy revisited, and Teslas big stock spike.

Pivot with Kara Swisher and Scott Galloway

51:16 min | 1 year ago

California is regulating consumer data privacy, the gig economy revisited, and Teslas big stock spike.

"This episode is sponsored by the Financial Times. Hold the phone. That Douglas's Samad printed copy has little drop provide you that's right. I used to carry on the economists to try and signal that I'm smarter than I am now. I carry that Salmon Bitch newspaper the FD. Why because Doug Doug has an Iq over one hundred and two hundred three? That's right. He's a poodle he's a German shepherd he's one of the smarter breed. How did I get smarter? I subscribe to the after the financial so times. It's one of those must read papers if you're interested in understanding America's role on the global stage. So you know what's wonderful about the F.. T. Is it provides you with a non American in perspective which by the way as gangster every once in a while Xena fobs because they're journalistic editors get it. They take pride in offering a truly global perspective on the world world of business finance and politics. Whatever six hundred correspondence and more than fifty countries the Financial Times offers unique independent global guide to the day's news news to learn more visit the Financial Times F. T. dot com that's right? FT DOT com look like an old man. WHO's a dog terry around that salmon in paper the F.? T. Hi everyone. This is pivot from the boss media. PODCAST podcast network. I'm Kara Swisher. I'm Scott Galloway. Happy New Year Care of thank you. Weren't you sound so mellow where are you. Did you have a good new year. We're where are you located at this point. I'm in San Francisco. I'm in Montana the Great State of Montana where I'm here for the first time ever and what are you doing what are you. What are you doing there Skiing or I mostly gang trying to put the boys on skis share and it's It's wonderful it's. I'm not a big cold weather person. But it's very majestic adjusted. I notice a nice a nice new year and it's a great state and now plays I hadn't been so wonderful New Year. How about you well? I'm in San Francisco. Moving children children around the city doing things. I'm exhausted actually But it's beautiful here. San Francisco actually looks great. And it's cleaner that it's been and it's beautiful and the weather's gorgeous but are oh you like you know all the Internet moguls go to Montana. Are you aware of that. Like you in the Ground Zero of Internet moguls essentially. Yes so I'm knee deep in them somehow oh I got into the Yellowstone Club. So I'm wear the ninety nine point nine percentile take refuge from the ninety nine point. Nine eight it is. It is unusual. Here how did you can't see down club. They feel sorry for me. I might Kinda. The charity is not the same as can and like Sanchez. Every once in a while. They're like invited professor. Wow kind of kind of an interloper here. You know. Actually all the Internet people I've been hearing from. They're all in New Zealand right now. I'm waiting waiting for exactly. I'm like what is it the Armageddon vacation but I keep getting pictures and people sort of at the hobbit hole. They go to all the stuff but a lot of Internet people are in New Zealand. which is because I guess? It's warm and it's not Hawaii. They move onto other things on the house. Doing Clinton had some financial problems bank recall but now it's back in bigger bigger than ever a allegedly apparently and stuff like that. But it's where all the fancies are very nice Scott. It's so nice that you have live a life that way when I sit here and worked my way eight through the holidays anyway. Speaking of making money off the holidays which which Companies Inc. profited most from the holiday season was at Amazon Apple. Who Do you think yeah? I think right out of the gate because of its industry and people look so closely at an Amazon reported again record. Numbers the. I would say that through the holiday season in terms of momentum though apple finishing the air is the best performing of the stocks. I mean it really was apple's year was I think the second best performing stock behind behind Some weird stuff like. I don't know if it was Netflix. So maybe that was for the decades and it was the quarter for. It was the quarter for apple but it was the holiday again just because of its core business for Amazon which shows no or continues to show no signs of letting up we saw e commerce growth. Trump's something like nineteen percent which is just insane when when you think about the fact that longer a small business so this is ecommerce continues to. It's like what it's finally realising its potential you know we were so excited about it and the thousands and now it seems to finally be growing into its own shoes and then brick and mortar is is against suffering. What's interesting I read an idea on the Robin Hood App for urine predictions or urine? What they wanted for twenty twenty? Someone suggested that. A large franchise Aaa I actually. You think chick-fil-a would be an interesting Brand for this would go. All delivery would just shut other locations down and go all delivery and that's an interesting idea. Yeah maybe for a market where they don't have any locations but curiouser is about to feel the impact of disruption on technology anyways apple and Amazon. What would you say the big winners probably invested? Why Apple is I mean? I bought my kid a pair of airplanes. which promptly misplaced now for just a few days after the holidays but I'm not sure I mean we have apple music? I'm trying to think we bought. We went and got our new iphone. Eleven ski boats in that Exchange Program. So I mean we have a real tight relationship my kids with with apple in brand and we were in the store several times by that much stuff there but we bought enough But we're part of like their ecosystem system essentially Amazon. I didn't actually. I made a point to go to regular retailers. This year to buy things. I did not buy a lot of them as I use Amazon all year round. I like the convenience I think versus gifts and so I didn't do a whole lot and there were not quite as many boxes as impact. There were none. I didn't do any shopping off with Amazon because I made it a point to go around to the local businesses but I can tell you on the streetscape here like businesses. Just one would several stores in my neighborhood just closed down. That had been since I moved here. which would you know? They're all one was a woman was just a regular sold t shirts and nice clothes IOS and stuff like that and and they don't let brands in this particular neighborhood in San Francisco so it was real. It's really like there were several different businesses. That were here here. That are not including restaurants and so it's kind of. It's kind of a shock to see that happening sort of in real time on streets of cities yeah It's it's funny. We were talking about apple one of the things I noticed Christmas morning after was i. I need to start drinking earlier to Marquette. Kids Both you know the the orgy of consumerism. And you know ripping should open and then the thing. They both ended up on a nine and twelve year. Old boy where uh-huh an IPAD and the new iphone respectively apple really has become the any any kind of upper middle class affluent family. I think the morning is sort word of one by apple. It's not true when your kids aren't old enough. It's one sneakers and Stock X.. Have you heard of stocks by owned by Dan. Gilbert who we hope gets. That's not. My kid is obsessed with that and sneakers. He's a sneaker head and so to me that was interesting the use of those things and he's quite you know he knows all about sneakers and in mostly through online relationships people who love sneakers and things like that so I think it was more sneakers that I believe the most the most westbound stock XS amazing right stock XS tapping into that resale market. It does real time tracking of prices if you go into stocks. Her son goes on the stocks so innovative about touted as you can type in any shoe gives you pricing trends and patterns which gives you the confidence to buy it really is a fantastic platform from a UI standpoint. The other really really wonderful thing about stock. ACT SINCE I believe it's one of the only UNICORNS Shootout to UNICORNS IN DETROIT. Integrate city of Detroit is their comeback. So start there's a lot to like about stocks. Yes so it's interesting. I'm thinking of actually having them to code because I was fascinated by how he uses it and so many of the other kids his friends and stuff like that. And it's really it is a sort of like the real real for teenage boys and girls and one of the things that's interesting. He was starting to buy sneakers for the baby which was just this discussing with sneakers. She would be wearing over the next ten years of her life and I was like. Oh my God get another job this this show better get a TV show or something anyway. Let's get to did the big The the big stories The week there's tons in California where I am a handful of Progressive California laws went into effect this week We're GONNA talk about. There are two very big laws. 'cause they're essentially defacto law of the land at this point the California consumer privacy which I wrote about last week in the New York Times or two weeks weeks ago went into effect on January. First it gets enforced in the middle of July Because they're sort of getting into place but everyone got all these emails about about their key about the online things. If if you get one you're not online Let me just go through. It really quickly will give Californians certain agency over how companies like facebook and Google use their consumer were data it gives residents that right to learn what data companies have collected on them to ask companies not to sell data Which I did a lot of companies actually and to request data be deleted and there's some limitations of law? You can't tell a business you don't want a dead but there's no way to opt out of having that data collected which is what I'm looking for opt apt in actually the second one is ab five which is now active in California offers gig economy workers slate of protection including some benefit acquires employers in many industries to classify their workers as employees Both posts as an uber complaining about it in Federal Court An and say it's unconstitutional So those are those are two big laws. Essentially because Congress can't act the law of the land because everyone has to comply with them. So I think it's GonNa Inspire catalyzed better legislation but the legislation itself kind of rings or is reminiscent of. GDP are are in the sense that I think it's GonNa end up taxing being heavy handed with the wrong people because at the end of the day. CCPA was largely motivated or hopefully. They're to create some some redress around one company and that's facebook and technically I think in this is the argument. FACEBOOK will make is that facebook is already in full compliance. Because that I I think this Mrs are comes up short. This eat media agency called Copley had a pro-life client and was using location data that they were had gathered from a platform platform which the platforms couldn't fact sell that data and they were targeting people with antiabortion ads based on location. Trying to figure out if women were on their way or near a family planning clinic and you think about it. This is exactly the kind of thing we're trying to stop right right. But but if facebook all of a sudden decided added to have a service that essentially facebook doesn't collect data if you will facebook or it doesn't sell it I should say they collect the data and then they use it and they sell so that's service to advertisers. But they don't sell the data or they or their core. Their business is not selling data to advertisers and because of some of the controversy. They haven't done right but at what point is it does the legislation. Meanwhile you can't use my data to sell me or access to me and that's where the short and I worry that it's just GonNa Again Nasr. GDP are is making it more difficult for small media companies but the larger ones that have the lawyer to kind of navigate around this. Just fine so I I'm not. I'm not hopeful four for this one. I'm hopeful and it inspires better legislation but this one I'm not I'm not a big Fan of what are your views. Well there's a couple of the mind the M- the minor stuff I think is great. The anyone under sixteen they just can't collect any data like they can't use their collected and it does sort of shoot a you know. Put something across the bow is that this is the that there is the privacy act in a major state that matters were these companies are are living were they were they they exist. which is I think what's important that says this? These are sort of the beginnings the parameters of what we're doing and I get it comes up short in a lot of ways but and of course they don't have opt in. I just don't see any point to any the of this that you have to you have to opt into the data collection So you know what you're doing and if people may just click on it that's fine but at least it had it forces them into that stabbed Ed. I just turned off all my location data on Apple. Which of course is still picking you know one of my my my kids talk on the Rico Deco? Show this week You know they still collect your location data like crazy. Even apple is doing that over. We were looking over where I'd been specifically including with the credit card and everything else and so I turned all often. I have to tell you it's really interesting using a phone without location data You have to put in where you we went out out to Muir Woods to go hiking and I didn't want them to locate me and so I you can put in your getting to Muir Woods from my brother's house but they couldn't I couldn't track track along the way so I had a follow it like a map just like you would follow an old map. They didn't know where I was on the map. And you know there's a thing that says only once they can track you only only once which I think is very helpful on the apple on when you're using an apple Maybe you can also have it. Use It when it's always only when you're using the APP you can do never but e apple certainly giving you a lot more choices and I use them pretty actively now. I don't think everyone will but it's really it's well done for. It's not confusing in any way like us at once for I think a movie a movie ticket. Yes you can use it wants but I do think a lot more about location to start with and then you know so. They don't know where I am. They know we're asked to go to. But they don't quite know where I am which I feel better about even though it's some it's somewhat onerous to do that way And secondly I wish the data that's getting pinged back. I'm I'm spending a lot of time. Being very fully aware of how much data is being dragged into whatever APP. I'm using Zinger. What I'm downloading or I went through all my apps and got rid of a lot of them because they were sucking all kinds of information I never requested Off of them and remove them from my phone. So it's you know I think I'm radical compared to most people but I do think the idea that that big legislative bodies including other states are are doing. This means that Congress has to act. 'CAUSE YOU'RE GONNA have fifty different privacy acts There's GonNa be really problematic for businesses. So that's a good thing for the most powerful thing about it in California whenever California passes legislation. There's a fifty to seventy percent chance it's going to become the legislation of the land or a lot of states are going to take advantage of the Justice Department illegal infrastructure that has really robust and really large in the state of California. The problem with this is that if you look at consumer behavior the behavior so you were just describing it just is a straight line strange. Most people don't even have the skills to be having the conversation that you just had and end. The majority of younger consumers have decided with with their actions. They're fine with their privacy being violated as long as they get. Utility and return and location based data does provide incredible utility. Whether you're on ways whether it's recommending restaurant nearby direct all that all that good stuff what we want I think think is to change the laws such that if you abuse my privacy data or my data. That's that's that's sensitive that you're subject to lawsuits. I think that's where this this needs to head. It's not consumers want their privacy violated as long as there's utility or a coupon at the end of it what they don't want us to find out that their data was used to help target target and suppress voters after the fact they don't so it's it's not even the collection process. It's how these guys are using it and then there's an interesting question around. And this guy named budding seems benedict evidences. A partner at Andrews Horowitz and he disagrees with me all the time on twitter and I hate them for it because when you disagrees with almost almost always right but he had an interesting point and he said that if you're going to go after these people which kind of Meta level do you go after is it? The technology is at the APP that sits on the top of the technology technology. Is that the company that's coordinated and organized into still. The data is at the firm that has purchased the data. I mean there's so many players along the road where it is kind of the legal liability or the fault. Where does it where does it lie but again if you if you look at the sank facebook it probably gets off Scot free? Most of this legislation goes after the smaller. Ars To what does it have. The question is what has to pass like what has to specifically pass to effect the the the biggest violator which would be facebook. And I think that's something that Congress has to think about and I I don't. I'm not sure they have the set to do it. You know And Chuck Schumer has been a friend of facebook. I think you know rather are positive although Nancy Pelosi has not been So it should be. It'd be it depends on what happens. Obviously would be interesting as trump inserts asserts himself here the way he did in the emissions issues in with with cars in California where there's lawsuits flying right now over those issues because California's stronger emissions and some carmakers back California others have not have gone with the trump administration. So it'll be interesting to see if they insert him them he's here in including an AB five which which which is this protections for For for it was it was it was a new law that was That was fixing freelance glance. Work essentially and give them workplace legal protections. But it's also affected. Freelancer is obviously Has Been impacted and others head to head the layoffs and people because of the amount of time time you can hire people for they move into employee status and again. It's it's important to do this to be able to start talking about this idea of Gig economy economy workers and the protection they deserve but it definitely the paperwork is going to be enormous. Small businesses are going to be more effected. And it'll cause more problems. I don't think we have to re radically rethink how we think of work going forward because everybody's GEIC worker at some point or it's not going to be the same kind of system that we had in the past. Yeah it's it's it brings it brings up a host issues in two thousand and nine. The Nasdaq was a two thousand and then federal minimum wage was at seven dollars and twenty five cents and here we sit in two thousand and twenty in the Nasdaq has breached. Nine thousand and federal minimum wage is still seven dollars and twenty five cents as a as an economy if you think of us as a giant company and you think of the President and Congress is the CEO and Executive Management Team. They have these stakeholders Caldere's one loosely. Speaking is a shareholders one is as capital or property owners another is companies and another is workers and we have decided collectively through the people that we elect to put workers so far behind in the back of the line in terms of their rights. And I'm not talking about information age workers but just as people talk about. There are two Americas there are two Uber's the twenty thousand employees who put the value of Ford at Uber who have education wins MIT or so crazy. Brilliant started coding Python in the eleventh grade and got sucked up into the eco-system is young people without college. Those people have never had a better but the five million driver partners. The other side of Uber have never had it worse. The supply and demand dynamic that we would like to think creates or works in capitalism ends up in a society where a third of children are living in households that are food insecure and remember that software that the media was outraged over a few years ago that automatically clocked act out workers at fast food restaurants that okay. There's not enough people in the restaurant where automatically clocking you out such that. You're no longer making seven dollars and twenty five cents an hour go go have a smoke break. Go outside but we're not paying you for the next seventeen minutes and there was outrage over that. Imagine that times two billion because effectively everyone now has that software in the form of of a phone. And when you think about where where Lubar and door dash and the entire the entire food delivery system is is that the the massive dynamics hammocks are underpinnings of shareholder value big tack than one innovation. Their products are just superior more power to them. They deserve everything they get then to. It moves to obligation Gatien. Okay are incredible products give monopoly power. So we're going to avoid any sort of regulation. We're going to avoid any sort of antitrust and then the really sad part is then moves to exploitation and that is I would argue. Uber doesn't really have that sophisticated. Technology Door Dash Post mates ubereats in my view have essentially their primary means. Value Creation is the exploitation exploitation of workers at the hands of automatic clocking in clocking out software of the phone and lack of regulation. That says right if you need a contractor we. We don't have to offer you bathroom breaks. We don't have to ensure you're making seven dollars five cents. An hour and a lot of them are long winter two whereas coming around again to acknowledge year point in that is there should be probably a middle ground between independent contractors who have no protection and then employee status where the company is forced to provide benefits and immediately raised. The cost of that employment by third problem with this law is that it. It differentiates between workers. I mean there's a bunch of carve outs for white collar workers like doctors and then but then you know. Low paid workers construction janitorial services they get legal protections but then they let in marketers ingredient raiders but journalists. So if you're a freelance which is you know there's so many journalists that do freelance work again. As I said Ed vox media full disclosure had to cut more than two hundred California freelancers. There's transcription services. There's all kinds of people who do that kind of work and so being an independent the contractor is a good thing for a lot of people because they like it but then they can't work and so it or they work only a short amount of time and then can't make they make their living essentially and so the sophistication of these laws as you start to get into. It gets rather deep and of course it calls for the idea that we should have a national healthcare initiative. You know this this idea that everybody should healthcare is really at the center of this in along with other benefits. Having healthcare benefits is critically important. And the fact that we don't across this country is just continues to be. You know we have obamacare but is under under attack Is the problem. I my nephew lives in Australia. And then my other one lived in Japan for a long time. We were talking at Christmas and they were like. We couldn't believe how much Ed bill costs. Here we can't believe how much you know what I mean like. They're they're there's sort of like God it's like you're all on your own here. Compared to the kind of quality care they're getting in the countries they live in which is really you know? There's it was an interesting discussion. But then they've come to expect and I think the problem is our our people in this country have not come to expect this kind of ability to have these things and so i. Yeah I think I liked the California's past these things. We gotTA WE GOTTA move on. But the we'll see where they go and they're GONNA be attacked in court by all these companies going forward. Both laws And so the question is where does it end up on a federal level and then eventually Supreme Court. I'm guessing like I think this is the kind of thing these kind of changes between employment law and And privacy are going to have to end up finally being determined at a very high federal level where we all can agree on things. I don't think it's going to either. Either of these laws are GONNA. This is the beginning of them and I'm glad California's done this. However however problematic they have created problems at least? We're discussing those problems. Problems door dash already devoted or allocated tens of millions of dollars to propose legislation or a ballot initiative directly counteracted. Right right well ballot initiatives in California's those live here. They do Bala dishes on wide range of things and sometimes people aren't really paying attention to the I was joking like we picked the paker paper clips. The the San Francisco uses like. It's crazy way to legislate. I think most people in California don't get although it was meant it beginning to give power to people now becomes like a circus circus when you're going to vote But anyway we'll see where it goes. I think we're on. We're on deck this year. Maybe to have privacy legislation in Congress whereas if we can get through this horrible will not want the Greg get through anything until November Until it's very clear who's president who's running the Senate and who's running the house And that's going to be so this year politically is going to be insane. I think so. There won't be much being passed. Anyway we gotta take a quick break now at but we'll be right back after this Scott. I you sound so mellow I like it. You've got the bras thoughtful professor thing I envisioned you in a sweater vest kind of thing. Smoking a pipe looking at the snow among the rich people. I really think it's a nice mood for you. I like it a lot. That's a good look on me now. It's mostly it's mostly in a dark room. Has this yelled at his kids. Not to come into the room under any circumstances so recovering from my New Year's Eve hangover. When we get back we're GONNA do wins and fails and prediction and everybody welcome to the New Year twenty twenty? We'll be back after this. Okay so you know you feel better when you exercise and eat right by the way I think exercise is the most effective antidepressants fish. Huge gift entire life. You know you live better now you can save on life insurance to health. IQ Life Insurance Agency. It's done a ton of research on a long term outcomes of healthy lifestyle Health Iq Q. Digs deep into the data and science around health and wellness and then uses that data to secure lower life insurance rates for the health conscious amongst because physically active people bless significantly reduced risks for heart disease cancer and diabetes to see if you qualify for health I q dot Com slash pivot to take the proprietary hi Terry Health Iq quits depending upon your score as well as other related qualifying factors. 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Easier attracts all your passwords protects your data and a single APP that works for all devices Dash Lang auto fills every form for you including addresses and credit card payment information. You control what you share. Keep yourself save Dave with VPN and dark web monitoring and share passwords securely with friends and family start dashing through the Internet by visiting Dash Line Dot com slash pivot to start your thirty the day free trial at Dash Lane. No credit card required if you like it used the CODE PIVOT BE IV OT at checkout to save twenty five percent on a premium premiums subscription. Make the Internet better with Dash Line. Okay we're back. Scott Wins and fails. It's early in the year. You know people really missed us. They didn't like us being away for a week. My favorite back. How awesome we are every week? Let's find a new way to talk about. How awesome the jungle Cadillac? Did people miss we got a lot of lists and people best of this and that and people really. I missed going away for. They didn't like us being away. Not Talking to each other but But but we're GONNA WE'RE GONNA as everyone knows we go twice a week where we're sort of fiddling with the formats as we move forward But we love any suggestions from everybody about what you think of the to whether we should how we should do the second one and whether it should be different if we should do wins and fails sales just once a week if there's enough wins and fails things like that. But let's go since you've been away for so long. I would like some wins and fails a lot did happen over. The how was not a quiet holiday season and even those two weeks of vacation essentially for most people so you are wins and fails Scott before we get started. You wrote and you know how much I don't like reading your material but occasionally stumble upon it and I read your article in The New York Times and the thing that struck me. You made some predictions was. It was very optimistic. Optimistic the said a few things you thought. Climate change could in fact that big tech play a big role. Innovators addressing lesson climate change and at the first trillionaire would be someone who addressed that that privacy. It struck me the and I have a few questions on it struck me that the article was hopeful. Foil and optimistic which is nice and I cannot relate to but to the you think tack you think tacking what I'll call market driven and capitalism driven innovation. The rewards and the spoils Are are going to play a huge role in solving the problems of their own making That's what struck me as you're looking. You sounded like you. You could almost be an automobile lobbyist with someone who is very protect thinking a lot of these problems of their own making can be solved by them. Well you know is interesting because I the reaction was fasting and people really likes it when I'm positive. I like it when they like it when I'm making only positive so much as let's like I read all these year end things and I can't can't stand them are looking back at the decade and they're all the same they're all exactly the same and they're also short term right like oh we're going to have like even bigger air pods on our helmets the airport helmets or whatever I find them really small minded. I know it sounds crazy but I do and so I thought. Why don't I really just say what I would like to happen? When I just do like a visualization as they say here in California why don't I visualize the future I WanNa have and so these were some of the issues that I I wanNA. It's sort of set the tone for writing all year about solutions. which is you know what code is going to be about this year and it's not to say we're going to ignore all the shitty stuff facebook does because I'm sure they're you know they're they're gearing up and resting to do more shooting things all year but But I I do want to think about where I want to set the tone of because I think in in a attacking tech over the past year and a half but I'm saying it chastising tech for their problems. I think has set in motion. You know I started sort whacking at them. Back in two thousand sixteen on these issues responsibility all right now that we've done that it's time to like what are we going to do about it. And so I think getting Brooklyn that mode including in the tech industry is a good one because at some point you you have to sort of like twitter and And trump right now. It's like that's enough we're done with and that's that's what I ended the piece on like whenever you think in ten years we do not have to listen to trump on twitter. Probably like probably. That'll be gone. So that's what I was trying to put in people's brains is that the Internet screaming at you is going to be over at some point and give people hope that was. That was my what I was trying to do. I I like that and I didn't realize predictions where what we want the world to mega what we want to happen. So my big prediction then for the future is that me. AFC and Andrew. Ross Sorkin A. A R S steal one of those stupid fucking rockets that those little Dick Billionaires are building we take off we hit the sub. Strata they look at me because I'm older and and I have that face you distrust and I say let's rocklets light this candle. Let's head into the sun. We fly together. Mia Andros Organ into the center. The fucking concern our DNA fuses. Do we die. We create new anti-matter we emerge we emerge as the vehicle as the spiritual animal. The singularity that I- warrant that I do I emerge from the sun fused with Andrew. Ross Sorkin Golden God and I realized my destiny the episode of Star Trek. In case. You're interested and GONNA happen. This is not going to happen. I'm sorry Scott You'RE GONNA burn on like getting even slightly slightly close to it and then you'll all be dead by the UC Andrew. Ross Erica would never get in a rocket with you. But that's another she the president. Did you see all these stories. They're all these like. She's preparing for. Presidency would've gone throw Snow Moss in the race. Who dropped out so I you could use that as a segue? I'm going to start with a fail and it's kind of goes to why we need ASC Or more people calling the rights. I think the Democratic Party is really failed and as as we all. Try to get really excited about these candidates. I would just be candidates thus far collectively as I don't think the Democrat. I think the Democratic Committee has pivoted or the Democratic National Committee has pivoted too far to the other side where we let these total wack jobs who should not be taking any oxygen during an incredibly important process on the debate. late-stage I think that they should have had debates where they said okay. We believe we believe that similar to being a heart surgeon or a VCR repair person that there is a skill set and domain expertise and a certain level of respect to people who have actually governed and Amar experiment around business people people or people who have no experience in government has been a disaster. And I would have liked to have seen debates with fewer people such as I told you. I'm in the Great State of Montana. I don't know a a lot about Steve Bullock. The governor here but I would have liked to have learned more and had him had a democratic governor in a red state get more oxygen agenda and he just couldn't even get up to. I mean it's reaction would happen with Hillary Clinton which represents these shut shut everybody down over to speak but I they've screwed up. I think the DNC has an obligation I think government matters and I think actually a lot of politicians do a very good job. It's really interesting. I talked about this time last year. Got A tweet saying we might be. We might be inaugurating or welcoming Andrew Yang Secretary of commerce and Tom Stars Secretary of energy. It's really interesting. The Yang Gang is about as passionate zanny group online with exception maybe Tesla and occasionally fan boys from apple in terms of pushback. They were angry that I suggested he might only be Secretary of Commerce. But let me just inspire spyro million mean tweets. I think Andrew Andrew Yang is a fascinating guy with fascinating ideas a successful business. I think he's a good person. I think that's absolutely no fucking reason to be president. I think that would be a disaster. I do think it's important that the guy that Gal shows up with some people who they actually have predetermined relationships they understand legislation that they understand how Senate and the house work together and people will respond. Well has a work so far and argue. I think it's worked better than people. Give it. Pro People give that People give it credit for but the people who cut and run here. The Democratic National Committee should command the space they occupy and should have done a better job giving oxygen suggestion and giving us a better look at people who have spent their lives in government and well. This is not the Democratic Party Scott. But that's okay like I think the void this this is This thunderdome this year. There weren't even if it's adult because of a hundred percent. There was no question that couldn't have had a half dozen debates just DNC debates. And quite frankly they didn't invite Marianne Williamson. I mean they just don't they just said okay. We're not GONNA invite business. People who are billionaires we have this is where the democratic professional to trump has blown that all to hell like. He's not qualifying. Any stretch remains unqualified vice. Tweet for mar-a-lago the southern White House forever which is just a gifted palace as far as I can tell but where they're just like writing checks I'm assuming they'll bring checks it's a mafia wedding But but it's You Know I. I don't know I think this is the process. This is the the process we have especially with the Democrats. And that's the way it's going to go and then we'll come you know we'll you're out on somebody you know. It looks like it's moving into the regulars like it's not like they didn't get there and I think I think the win Scott. That's a failed for you. You got explain your the Tesla situation. I think people were coming at you 'cause Tesla's all-time High Winds I. I don't know if it's a win. I WANNA win for shareholders for sure. So you're saying it's an opportunity to embarrass me. Explain it. I was like can explain this void it or whatever but you can't avoid it so what do you think about this. Run up in the hassle stock. That's really what I WanNa know what you think about it so just to be clear people now. Hey let's have the Tesla people come after you you know what. If you're gonNA enemies have powerful enemies so I said earlier in the year at South by South West. One of my big predictions Is that This was Tesla was gonNA come undone. Lamad lamad crashed into a trading three hundred x share the moment we said that the stock went to two twenty-nine up because us but just because and I thought wow. I'm actually pretty good at this predictions thing and now it's at an all time I am high and there's just no getting around it I was wrong. Tesla has I thought all the the incredible accidents a senior management was going to come back to haunt them. I still believe that greatness achieved in the agency of others And I'm kind of I don't want to see him doubling down. I'm almost a little bit tired of fighting people on Tesla and the heat. I Take Iona Tesla. I think it's a great car. I think it's great brand my viewpoint though is that it at the end of the day it's a company that bent steel and we'll begin at some point training waiting evaluation. That is the most valuable on any multiple or any reasonable metric auto company the world which puts it somewhere like eighty to one hundred twenty bucks a share so like like like the company. Congratulations to them. I was wrong still think the company is looking to go up. Why do you think it went up? That's what I want to understand. It may be a fake. Go Up I think that that you're one hundred percent right about the this valuations crazy. But why did it go. What was the what was the intervening factor? That keeps doing this. I mean I feel. Let me tell you being back here in California for a while. All you see is Tesla's every now. I live in San Francisco but I I was all over the bay area and you see all levels of them everywhere everywhere being driven by people. There's no getting around at the company's tremendously innovative. It doesn't it takes enormous risks it. It's I forget the new model that they launched last year the more affordable model but that seems to be getting traction the pickup truck inspired this kind of this tesla like wondering that people have come to expect expect. They're not afraid to do things. Incredibly different supposed to their China. Production is coming on action can now. They're producing a thousand cars. A day is so they've hit. They're starting to do something something that they've never done before. And that is actually hit targets. They're famous or not hitting them salute. The company is firing a I would say it's firing on all cylinders if it wasn't an electric car but it's conducting on all Lithium Iodine or whatever. The appropriate analogy is the company's executing congratulations to them glad the the Bulls won. I don't have a position position in the stock but it's interesting seems a little bit more reinvigorated. I mean at one point. He was tweeting from the China factory. And then he was. Somehow it's a SPACEX facility. It was like what are you cloned yourself like. You know it's interesting. He's quite you know I think he's probably emboldened by winning the winning the case and sort of getting himself in line Ryan and so You know he's got a lot of energy that guy. I'll tell you that whether it's it's huge vindication for him because you know the stock's up above where he said he was gonNA take the company opening private when he committed blatant manipulation improved at the. Sec Hell still lacks sack and is not there to protect investors but protect management anyway But it is. There's just snow getting around at Tesla's on fire. I couldn't have been more wrong on that one. Another thing I wanted to ask you about. I missed you so much I want your opinions and everything was this bumble blocking Sharon stone. Don't which is kind of a great. It was two thousand nine due on bumble looking for a day and they kicked her off because they said she wasn't Sharon stone when indeed she was staring stone And then they of course responded and said Oh Sharon come back. We're thrilled to have you data way. And then they were very some very my my friend. Hillary Rosen was like forget bumble. Bee Happy today you so it was It was it was very funny when I heard about Sharon being on bumble well I decided to update my profile because the dating profile just one thing. It's a super into magic and that wasn't working for me so I changed it to. I decided sided. I needed to be a little bit more aggressive. A little bit more brute a little bit more you know dog and an Alpha male will not shit from waiters will protect. We'll protect your standing everywhere. We go will impregnate you leave and come back and eat. The child Alpha male wasn't working. I'm amount of bet right now. Don't interrupt me so I went back to the thing to attract the loveless and I wrote super judgmental re exotic vacations but pretty easy going on everything else. Speaking of which you're on right now. Oh my God it's got please off. No one's going to pick him bumble. Have the agency on bumble and you you will never get selected. Twenty twenty away All online dating services people have that they they knew all the owners of these businesses have put a warning label on everything that you do on day. One and five men one in five marriages and I think like three and four hookups are now online online. I think online dating is a wonderful thing. I have a friend who's to who looks like he might be separating and I'm like I did. I got so excited when I heard about this not not because of the pain and frustration and tragedy is that I made him promise me three months ago that if he ended up getting separated I would get to write his dating profiles. I'm going to have so much fun because this guy is like me but more handsome and more successful. We're going to have so much fun. I can start again in other words all right Lewiston. We got finished with predictions. You've the win win win win. Okay so my win this. I love this story. My is Eva Gordon and Just passed away at the age of one hundred five and she was a secretary or her husband at was a stockbroker. They live very frugally and nobody had any idea about their wealth and although she had never attended college she left ten million dollars through ten million dollars. State community and technical colleges in western Washington State When she died out This past June Ran College. Put out a release saying Ren Technical College. Gorgeous gift will be used to confer scholarships and grants upon students with financial and other barriers to the attendance. The funds will help pay for tuition and other education related expenses as well as well as for financial emergencies Ren said in a statement her and her husband used to teach classes asses he taught on business because he was a stockbroker. She did warm up exercises for inmates at a Correctional Institute. And there's just so much there's so many lessons to be taken taken from this. I have this cottage industry of coaching Young men and what I find is that they they aspire to be have a big win and make just a shit shit ton of money and then consume and. There's so much dignity in doing. What the Gordon's Gin Lee? Living below your means and then Investing early this shows the power of compound pound interest. One being part of the story was that she would take thirty or forty dollars of her salary secretary salary every week and buy stocks and utilities and then ultimately she bought stock can Nordstrom and then she bought stock in Microsoft that she loved the markets but was always investing from a very early age and then they ended up with fifteen million dollars in wealth which they all left to nonprofits mostly in education. But just this sort of philanthropy the sort of dignity a living below your means the investing in education which I still believe is the is the upward lubrication of prosperity in our society semi win. Is Gordon this woman who never never achieved anything more than a secretary since he's doing exactly opposite of what you're doing right now being able to resign. Excuse me I have to go get a forty five dollars. pokey Bowl Eh. I like I like that. You're aspirational to deliver live. That you'll never gonNA live. I really like that about you do as I say not as I do do as I say all right. So let's finish up with predictive Pearson. Thank you made a couple of them. Insane today aspiration Asian for the next decade. What is your as mine is I had a one? I've had a wonderful time with my family. I'm very excited about my family. This in the next decade wonderful children and and I'm very pleased with the situation around them and my lovely I call her. The might be on. Say I'm very excited to get married and everything else so I am excited about family family over the next ten years. What about you sir? My parents are Italian and German. Which means I'm kind of? I know I'm fucked up too lazy to to do anything about it. That's a joke care got so we're talking about personal aspiration so whenever whatever what what's your what's your prediction decade. I WANNA be a quarter of the man. I pretend to be in all media and shows I'm sick just like constant fucking virtuous signaling and wake up and go like Gee I wish I was the person I think I am so I'm trying to connect. I want to connect what I know to be the right ways to be a good person and be right dad and a good partner. I'm going to be like it's like it's wanting to identify. What is the right behavior and to talk about it and to put blog posts about it and it's another thing to be that person so oh my my goal is for those two two moons to line up at some point nice? Okay now about tech mound business. I predicted at the end of my call on this week that you only read which it was a great moment in our relationship going forward for the next decade carrying around a device in our hands and staring at it will be a thing of the past by twenty thirty. I don't think we will be having these phone. I don't think we'll be. I think they'll be another device. It'll be in around the is I think probably So that was my prediction is by the end of the day that we're not gonNA this is not not gonna be our relationship. There are primary technical relationship that we have that is my prediction. What will what will we? Will we be interfacing with our something is up in the ear in the ear is up. That will be talking to it like a lot. You know. I think a lot of cues from movies and stuff like that and a lot of the steps that are in movies there. They don't have a lot of holding of things. They have a lot of things in their ears and eyes and things like that. So I think that's we're going to have some sort of device around our head in your area or embedded in some way that is that is how we communicate. So that's what makes it so wearables. I'll be very curious and you think it goes to some some sort of like APP when apple comes out with glass thing. Yes that's where moves. Yeah it'll be interesting interesting. What about you? WE'RE GONNA finish up on that. Scott what's your a big prediction for Tekken media over the next. What should we be watching out for as we move pivot into our new? Our new decade other than on a broader basis revolution is is coming and then with the Southern Hemisphere realize the fastest way to double their wealth is to take the money of seven families which ultimately they will figure out a way to do other than the impending revolution care in terms of tech. I think I think the thing that creates the most shareholder value if you will in that first trillion or you're talking about is what for lack of a better term distributed healthcare I think just as retail began began taxing people by taking them to these empty parking lots and forcing them to go up escalators and find a salesperson in the checkout in the navigate your way back back to the car I think that the the concentration of health care in these facilities which are unfriendly very non-consumer welcoming very inefficient very the time. EXPENSIVE THAT WE'RE GONNA distribute healthcare through these devices. Most people think it's going to be the Apple Watch. I think it's going to be Alexa and we're going to find that. The reason Amazon is becoming hippie compliant as they're about to start offering medical services and medical insurance at a lower price. I think it's going to be tremendously innovative. I think it's GonNa be a create enormous shareholder value. I think Jeff Bezos is going to be the first trillionaire on the back of Amazon's move into healthcare Amazon will be the first two trillion dollar company Once they start announcing basic health A health insurance and kind of basic medical services. So I think this is the decade where we go after the most disreputable industry in the world which is healthcare off care? I think this is a health health attack. Health Tech Hounds. The way I like it. I thought climate check but I think you're right. I think that's I think you're one hundred percent hundred center at Amazon and Amazon is going to be a bigger than ever unless the government gets in his way or trump does but I think he's arguing right over trump. I think you know what I mean in that fight. I'm like Sorry Trump Jeff bezos is gonNA take you down on that Khan and that's kind of a Gregor and Floyd Mayweather Bet bet on the guy with the fast hands who's actually in that sport Because that's that's the second time the guy with red hair gets the shit kicked out of him. Yes indeed all right Scott. This has been very exciting. I want you to get back to the slopes Jason. Whatever me which people do on holidays I am going to Work today I'm going to actually work today. nobody's working which is a really nice time to work and I'm going to be doing some podcasts and things like that but I'm excited to be back in two thousand twenty with you on Tuesday on a regular thing and a bunch of live events everything else and as I can in the end of last year which which is that. I'm very looking forward to working with you over the next year. I'm in a very very nice. Thank you very much. Ah You well. Let's make this decade care. This is and let's be. Let's be offensive along the way as much as we can offensive yet. NFL annual yes. No let's LET'S BE OFFENSIVE TO I. Think people like our our offensiveness. Meanwhile if you have questions about a story you're hearing in the news news for us to answer next week. Send US questions at pivot at. VOX MEDIA DOT COM. Today's show was produced by Rebecca Synonymous Eric. Anderson is PIPPAS executive producer. Thanks also Rebecca Castro Andrew Burrows make sure you subscribe to the show on Apple podcasts. If you're an android user check us out on spotify or frankly wherever you listen. Listen to podcasts. If you like this show please recommend it to a friend. Thanks for listening to pivot from Vox media. We'll be back next week for another breakdown of all things was tech and business.

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Bonus Episode: More with Scott Galloway

Modern Ruhles with Stephanie Ruhle

27:06 min | 1 year ago

Bonus Episode: More with Scott Galloway

"Today's episode is brought to you by salesforce. What brings people together? What sparks that feeling of surprise and delight when you meet someone who truly gets you at salesforce force? Those are questions they think about every day when it comes to companies and customers because with the right technology your company can make every customer feel like. They're the only one in the world. Let's bring companies and customers together. Join them at SALESFORCE DOT com. You're listening to modern rules a production of MSNBC and iheartradio. I'm Stephanie Rule. MSNBC ANCHOR AND NBC News correspondent and this is a special bonus episode of modern rules. Take I had a couple conversations this season that you you didn't get to hear all but those conversations stuck with me. They sat with me over the last few weeks and months so much so that I wanted to share earlier this season I spoke with a good friend of Mine Entrepreneur Author Business and marketing professor and a very outspoken Scott Galloway. We talked talked a lot about the metoo movement and more leadership but we covered a lot more in our full conversation. We covered everything from taxes. Income inequality parenting mean girls and something Scott Franklin who is all about white male privilege. It was a long game of mental and verbal ping-pong a game that Scott was definitely not prepared for an in hindsight. He said if I knew we're going to cover all this I probably wouldn't have shown up. But guess what he did. And I'd like to say it was one of the most fun and lightning conversations since I had this season and for this bonus episode. I just wanted to chair a whole lot. More one of the reasons I decided to go in academia as academia is based on the pursuit of truth regardless of who it offends you had socrates sang we. Our job is to provoke so in order to revoke we actually defined land outside the city where people have freedom of thought and they're protected if they say the world is round. They're not burnt at the stake. We are in this cancelled culture. Social media is performance art. You can't have a nuance conversation. Server the problem is I think we have this culture now where you get points. If you're offended you're immediately right all you have to do to be right is be offended. You're immediately get get virtue points. So this triggers microaggressions kids who have parents who provide concierge and bulldozer. Parenting creating this princess and the Pea Syndrome among kids Zyppah coming into college has led to an environment especially universities where we're really not encouraged to provoke. We're encouraged to pursue ideas and train people to make a lot of money but we're not there to explore ideas ideas because as a white heterosexual male. I walk into the room slightly wrong ish wherever I am at all times and people say well. We're having a conversation around these things. We're not we're not really having a conversation we're having an overdue immune reaction to some terrible problems to that point if you say something from your heart heart and your mind and it doesn't exactly fit into a category people will call you a sexist racist misogynist and then you're dead to them hundred or San Dan. That's my point. Did there's only one real dialogue here in that is appropriate dialogue for someone in my position and that is to pile on and be outraged by everything and joining the chorus. This is my fear retreat. Look to for example. I did a wellness panel last year and I was talking about how how in metoo there's different grades of me too and I actually brought up a very unpopular topic over them Shen because I think listen we love to fight as is a culture but we also love forgiveness comeback or and I brought that up and women in the audience stood up and said F. you and she walked out and another woman said corporate the America was built by mail white supremacists and until we destroy that system. We can move forward the listen the world is run by white guys. If you you want to get them to the table if you want to make things better we have to find a middle ground. Is there a middle ground or do you have to burn the house down because is it easy for me. Somebody who who has white privilege to say. Come on now. Can we love more. Can't we just get along. Cause I'm not really oppressed and I never have been so. That's a difficult question. I think we're going to happen over correction. I don't know if we're going to have what is really a conversation. I don't know how we ended up on the other end of this. I was thinking about Joe Biden and I believe with Jonathan Height. And he's sort of my Yoda around. This stuff is a colleague in Nyu and he believes that at least initially you should interpret gestures with the intent that they were made and I look at what happened with Vice President Biden and I wonder okay did that really warrant the type of response and the controversy and even just saying that is dangerous. Because there's the general viewpoint that okay anything. Any of expressing affection in the workplaces are really interesting thing. Because I do a podcast of the Swisher and she was saying that she's experienced and I believe her. Somebody's creepy moments with men who feel at liberty to invade a woman space and I one hundred percent believe that and I've seen it. I also asked her. There have been moments comments that expression of affection at work that you've appreciated. And she said yes and I said well some of US need help figuring out the grey zone in between that and the reaction right now among all men Out Work is that there's absolutely no affection. There's no real open honest dialogue. There isn't even joking and I think it's creating a lack of camaraderie and quite frankly a lack of career advancement in connection for the people who need it. The most I was in sales and banking one could say oh my God. It's sexist that you had to make dinner reservations. What were you doing going to places like? Ah Guess what me going to those dinners and getting myself a seat. Every single night was great for my career and to say I'm going to use my feminine wiles. It's not feminine wiles or sexuality but women do have high emotional intelligence and people might invite me dinner. Because I'm GonNa make the table move faster I'm GonNa make the client Ci- feel good now in a sexual way but in a personal way and that personal connection building trust with the senior people at the bank and with our clients it is what catapulted my business. You know how this problem get solved and this is gonNA sound politically correct your generous people and the thing that is protected or been the kind of the KRYPTONITE tonight of my firms from ever having a complaint or a lawsuit is that early on. I recognize this underinvested asset called young female leadership and that is if you gave them a little little bit of flexibility they were outstanding assets. They weren't appreciated by traditional corporate America so at L. to which we sold two years ago nine of the eleven largest equity holders were either. LGBT or women and you know what when you have women and LGBT people running the company. There's just never happens. And there was this kind of underinvested tested asset and now finally seventy percent of high school Valedictorians or women. They're finally catching up in the workplace. We have a different crisis of the making though and that is young young men are failing and I see it. In my organization the women are thriving the young women are thriving where women hit a hit a wall and this is where the nuance comes in is when women have kids uh-huh so women without kids have closed. The wage gap women with kids immediately. Dropped a seventy seven cents on the dollar but Scott Corporate America even government was designed in a way. Hey under the assumption that corporate leader does their job and there is a separate person in their home that manages their children and their household. That's the the model was created. I remember before I had my first child thinking I'm gonNA run the securities division at Deutsche Bank. I remember the day I came back from maternity leave looking across at the head of the securities division and thinking for a moment holy cow. That guy is on the road forty weeks a year. At that moment I thought well maybe I'll just be the biggest. It's producer unless we start to look at what people's priorities are men and women are going to change that for women learn evolution. Biology is pretty powerful. No matter how politically correct we are the contribution that men WanNa make in the home. I do think that women's instant when our kids get up at night my wife. Here's the footsteps AP's she's trained to that noise and while I'd like to think I contribute. I'm not sure she my wife worked at Goldman Sachs for five years and yet we found that the majority of the time I'm she was the one getting up and I'm not proud of that but it's a how do we create or compensate for that type of balance. Corporate America is trying. They've slowly but surely increased maternity turning to leave one thing I noticed about Goldman was they tried to be pretty empathetic women with children or at least they played facetime about it but at the end of the day she couldn't on a moment's notice. Go go to Detroit and be with General Motors for the meeting because we had two kids under the age of five so I think corporate America has sort of figured out what I'll call the male female wage dynamic. They haven't figured out is people over his. They haven't figured out how to create career velocity for people who decide to fulfil the most important attribute of the species. He's not propagation. We just haven't figured it out yet. Well it's hard to do that because when you're in your family raising childbirth years that's when I listen a thirty thirty one year old investment banker. That's when he or she is in his lane right. I would never ever say it out loud but when I think back to when I was in banking and I would would interview associates that were men and women. I would never say this outlet. I I'm sure in the back of my head I thought well I think she's engaged getting married. She like went Kevin. Kinder's GonNa come back right and I and I would obviously never say it out but I know it impacted me because especially especially in those industries. You need horses to run around the trash definitely imagine you're the CEO of a small company. That's venture backed and you have sort of a a Twenty four kind of hall past survive in the infant mortality rate on small businesses is eighty percent. And you're interviewing to H. B. S. grads and once a guy hi who's totally paranoid and worried and Hungary because he has two kids at home and you know it's going to work eighteen hours a day and one is that young woman who's just gotten married and you're thinking okay. What happens when she gets pregnant and I WANNA be a good guy and give him maternity leave and you want to do the right thing but unfortunately sometimes you wonder can afford to do the right thing? You check yourself and you stop that thinking but there's just no way you can control those thoughts to that point when we get offended when the President says America. I is in America. I I kind of the way we run our families take care of our own family first and then in our excess capacity give to others you ever. The thing about capitalism is that a basic human attribute of our species is that we're going to fix our own oxygen masks before helping others self interest is the most powerful motivating force in the world and it's the basis of capitalism at the end of the day. The Baker doesn't give the butcher bread for that person's well Bang but because they want meat in return to the powerful engine but also kita capitalism. Is this notion of democracy and the rule of fair play and we also believe in progressive tax structure that we have a baseline level of redistribution of income. The game might be tilted. But at least it's not rigged and I would argue over the last thirty years that the middle class figured out slowly but surely corporations have become government the tax systems become rigged. Okay but Scott. Here's the thing you are asking for is moral leadership. I think we are the advantages engines the galaxy we are the superheroes American disabilities act the civil rights. Act that there's been social security. All these things were hugely expensive hugely unpopular alert. And we did them. I think there's been thousands if not millions of people who've shown incredible moral leadership in class traders. Whether it was Teddy Roosevelt's sang saying the railroad guys. You elected me. I love you. Guess what I'm breaking you up whether it was. FDR being a class trader to his rich friends by increasing taxes. So he could have more social welfare affair. So people didn't die in poverty traditionally throughout history. It's very clear when we get to the current levels of income inequality that we have. The good news is is they always self-correct income inequality self-correct. That's the bad news. The mechanisms of self correction either war famine revolution. And that is people get so fat up they turned to nationalism and they start demonizing immigrants or they turn to some sort of government overthrow through socialism. You end up with Chavez at some point when you look out your window and you see everyone with pitchforks realize. Maybe it's time you know. Maybe it should be more than let them eat cake. I think we're at that point. The last time we had these levels of income inequality was in the twenties twenties right before the crash and people are so fed up an economy and a society can't survive without a prospering. Middle class in the middle class in America has either been sideways. Most this general sleep for the last thirty years probably going down. And we're in the midst of Asaf Revolution at a manifest itself in different ways. Hold on a second because we have so much more to talk about up. We'll be right back after a quick break. Mike Bloomberg knows real change takes place at the local level those who are fighting in their communities cities states and businesses to implement bottom up solutions. That's why when it comes to combating the climate crisis we aren't waiting for Washington. DC beyond carbon is the largest coordinated effort to tackle the climate crisis ever undertaken in the United States working with states cities organizations companies. I am citizens using proven advocacy legal and electoral strategies working to move the US to a one hundred percent clean energy economy. We're going to retire one hundred percent of US coal plants by twenty thirty. Stop the rush to gas grow. The climate movement by providing critical support advocate for the passage of clean energy policies and elect climate champions at the state and local levels join us at www dot out beyond carbon dot org or not waiting plug him back to modern rules. There's calls for seventy percent taxes and the elimination ATTENTION OF AIR TRANSPORT IN BILLIONAIRE SUPER TAX. There's calls to put Laurie Laughlin. Not becky imprison. I empathize with her. I'm an academic and I do think it's probably probably easy to incrementally decide to make bad decisions around getting your kids into school. Because as an academic I can tell you we've become drunk exclusivity. We have lost the script as academics. Next we used to think we were public servants. We think we're luxury goods and my dean and my director of admissions standup every year and Brag about how impossible it is for kids to get into school which creates creates the hunger games. Where if you get into a good school you're GonNa do great and if you don't you're kind of for lack of a better term you're screwed right decisions? We all end up in the arms race. And you say we'll I can't parent in a vacuum. I've gotta get in the mix right. Maybe this was maybe. It was born when Princeton review was created. However many years ago? But it's impossible like I do understand the slippery slope and how you become one of those parents who bought their way into school but it is a slippery slope but it's also impossible to get out of the game because you want to do. What's right for your kid? We clear out all the physical obstacles for our children. Our kids have never been physically safer. But the result is we've used so many sanitary wipes on our kids lives that they aren't developing the immunities. They need they get to college. We have record levels of depression and suicide the number of emergency room admittances of teens who are self harming or attempted suicide has doubled the last thirty six months. You combine that with the fact that these kids are now on screens more than they're on TV and not only do they see the party that they're missing out on. They see it play out in real time time you have record levels of teen depression you know. What is the biggest risk to our happiness? Stephanie for you and me. The biggest risk to our happiness is the combination of good intentions. But concierge wants here bulldozer. Parenting that you and I are probably both a little bit guilty in combination with instagram. And these weapons of mass destruction entrenchment by mostly mostly teenage girls. We talk about toxic masculinity. There's something called toxic femininity playing out in high schools right now and one of our kids gets really depressed and upset you. You want our lives. It'd be taken off track. We are facing an emerging mental health crisis. I will only acknowledge this right mean girls. For example exists. I see it in my hi personal life every day if you look at instagram. It's the epicenter of it yet. It's something we're not willing to talk about. It's too offensive to talk about. It goes back to this notion Russian that I talk about genders I think embracing your gender is hugely rewarding I think embracing your masculinity is Hugh's earning embracing femininity is hugely rewarding. That doesn't mean you have to be a bad person. That doesn't mean you have to be silly or oppressive or toxic or embracing your lack your gender neutrality. If that is what makes you happy but right now we're have a conversation where you're not allowed to acknowledge. The sexes are different so for example boys and this is scientifically based bully leave physically and verbally. We Punch each other and then call each other names and it's upsetting. But it's usually kind of over girls bully relational it is really damaging to other girls. It is actually more toxic than physically you know holding someone down and hitting them or giving them a Wedgie when you start. Tactically goes more fought in the more mature they pick victim and they start using these nuclear weapons of mockery and self-esteem destroying called instagram. But in a conniving way okay why do you think the movie mean girls was boy. We think that book was written. Why was it created out of nowhere was awesome? Right the movie heathers existed. So we're going to pretend that it all women completely tell the truth and we're all sisters. I have without a doubt had more women stabbed me in the back and by the way I've been rough on some girls too and right now. We are unwilling to say that I. We have to acknowledge that. The sexes are different. And that's okay but right now you can even have a conversation that acknowledges any differences where we have in in high schools though I think is really dangerous because we have kids. Who aren't developing the immunities that we have so for example? The number of teens that see the friends every day has been cut in half in ten years. So there's some good things. There's less team pregnancy less drunk driving than ever before but the bad news is the reason kids aren't driving drunk are having sex because their her home on instagram feeling bad about themselves. So there's a trade off air we're GONNA be right back after a quick break. You know who you are. A boundary pusher a big thinker in the relentless pursuit of the next big change for your business. The Future Future Business Demands Mobility whether you and your team are keeping your business moving on the ground or soaring over thirty thousand feet in the air taking your business wherever wherever it needs to go. The future of businesses like yours will be powered by advancements in wireless networks with new technology opening. The doors for better ways is to get the job done with network built to support you now and into the future T.. Mobile for business can help you realize the full potential of your business businesses changing. Learn more at T.. MOBILE FOR BUSINESS DOT COM. Welcome back to modern rules. One of the dangers about our segregation of rich kids from middle class from poor kids in the school system is decreasing the amount of empathy. We have to reach out. I went to a public school. I had friends who are rich I was squarely. I was part of the upper upper lower middle class and then I had friends. My one of my closest friends was a kidney. Ronnie Drake and African American kid WHO's only way to college to get a scholarship at Lynn University in Oregon. And I think I aspired to do more because I saw my rich run-scoring two great universities. I think I have more empathy for Ronnie in. The problem now is we are separating everybody from everybody else I think. Kids have a lack of empathy. I think their parents are clearing out. All the obstacles form and not letting them develop immunities and then you combine that with all the screen time and and we have what is a brewing mental health crisis. And it's the biggest risk. You're my happiness because you have your world at work you have your old friends. You have your fun. You have your will the kids when something comes off the rails with one of your kids and everyone. Here's on their answering these guys have kids. I can tell you're literally your world collapse. I mean all of a sudden the work. The France all goes away when something comes off the rails with money. or where's the balance because in terms of helicopter parenting on one hand you and I had no choice but to work it out. That's my family motto auto at home but now that I know my oldest son is dyslexic and of course when your kid yet snag knows then you get tested and we realized I am but I never got diagnosed I I worked through it and maybe work maybe working it out led to my success. But I don't want my kids to struggle. So then they get the bumpers. And then you're down a vortex of and osteopath in an occupational therapist and on time testing. And then you're putting your kid on a tiny little cloud of love and they're just waiting to get decapitated. So how do we find the right balance here. I don't know I think we're all trying to figure this out. He said something earlier in the beginning. When you said listen like I know when I walk into my classroom or a meeting? I'm ready in the tough spot because I'm the White Guy. But here's why we keep saying that you're saying like the toughest place to be is to be a white guy right now and there's a war on men except except and listen you and I are on. TV earlier and the seven bank. CEO's are testifying on the hill and somebody else on air with US said well the seven white guys walked in. So you're right. Those does seven white guys have to endure people like me. Rolling are is saying man. Seven white guys running banks guess why there are still running banks there are still almost exclusively white guys running the planet so to me this war on men. Yes we record number of women win in the last election the look at the data. We're taking over anything. We still make less money so I go Chris. Rock said that if you actually gave white men the power to change their gender and their race they would probably decide to just ride this whole white guy thing out you credit your character and your hard work for your success and then you credit the market for your failures and I constantly try and virtue signal talking about the fact I was. I was raised by a single immigrant. Mother but as a white male you don't realize as white heterosexual mountains is how many small advantages. You're giving every day. What I was referring to is in the conversation conversation around me to anything like this lack of credibility and I think there's a certain assumption that you're just sort of a little bit guilty that just by virtue of being a white heterosexual male so you're probably one of the perpetrators on some level even if it was unwitting so I agree with you? And Ninety eight percents of instances you know white male privilege is still there. I do think think it's getting better. And it's getting better for the right reasons. You know what is a great leveler as competition one of the reasons. The Americans beat the Axis powers. Was We brought women into the workforce and we kind of never turn back when the Americans wanted to maintain their standard of living women. Went into the workforce. We no longer have the luxury of as much discrimination as we used to. Because has you go out of business so competition in America the desire to be more competitive the desire to have a great firm. We no longer have the luxury of saying but Bob Played Lacrosse at Princeton at cycling at Susan's just better than Bob Right. So we're going to promote SUSIE and the weird thing that's happening what I see is there's is a lot of men in their thirties and forties in my generation. That feel that we're sort of have this birthright to being promoted because we have outdoor plumbing and more white and there's this this crisis of okay finally realizing you know what that doesn't cut it anymore. It just doesn't cut it anymore and there's a lot of self loathing anger but the reality it is it's overdue and the great equalizer here has been competition. I think it's a good thing. I didn't. Capitalism works. I think ultimately our desire to win. Start Starting Out The luxury of bigotry and I think things are had largely in the right direction other than the aberration of the last thirty months. Things I think on the whole. The Arc of justice is curved but it does bent towards justice. I do think we're headed in the right direction who we unpacked a lot in that conversation but what I really took away from Scott. Is that every issue. We're covering today that we think is monumental never before we'll guess what it's not new there are years and years of nuance and social advancement and struggle. By every one of these matters we deal with today and perhaps the things you are not supposed is to say out loud if you say them you realize that other people are thinking are dealing with the same thing. Thank you for listening to today's bonus episode and thank you you for bringing an open mind and helping US create but our hopefully modern rules. That's it for today's episode. I'm your host. Stephanie rule a very very special special thanks to the extraordinary people who made this happen. My producers Julie Brown Samantha Ulan and an audio Michael Viet for booking and wrangling the amazing guests who joined US Julian Weller for editing and Bill Plaques Michael as our Jakko Penzo for their recording expertise special thanks to see Blake Tie Barbara Rab Jonathan Wald. Marie do Holidays Nikki. E Tour and Christina Everett are executive producers are connel burn and Manga had tieger door and of course I the man who brought us all together chairman of iheartmedia Bob Pittman and chairman of NBC News. Andy lack for more podcasts from iheartradio visit the iheartradio. UH-HUH APP apple podcasts. Or wherever you listen to your favorite shows Mike Bloomberg knows real change takes place at the local level those who are fighting in their communities cities states and businesses to implement bottom up solutions. That's why when it comes to combating the climate crisis crisis. We aren't waiting for Washington. DC beyond carbon is the largest coordinated effort to tackle the climate crisis ever undertaken in the United States working with states cities organizations companies and citizens using proven advocacy legal and electoral strategies working to move the US to one hundred percent clean energy economy. We're going to retire one hundred percent of US coal plants by twenty thirty. Stop the rush to gas grow. The climate movement by providing critical support advocate for the passage of clean energy policies and elect climate champions at the state and local levels. Apple's join us at W._W._W.. Dot Beyond Carbon Dot Org or not waiting.

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Tech addiction and how it might be ruining Gen Z

Pivot with Kara Swisher and Scott Galloway

35:46 min | 2 years ago

Tech addiction and how it might be ruining Gen Z

"Hi, everyone this is pivot from the vox media podcast network. I'm Scott Galloway here without adult supervision is CARA Swisher is in Kuwait on vacation, Keira Kuwiat and vacation are three words. I would never never imagined. In the same sense care. We hope you're enjoying yourself. My co host today. Professor, John height of social psychologist, professor at NYU stern school business, a colleague and the author and multiple best selling New York Times, author of the happiness, hypothesis the righteous mind and most recently, the coddling of the American mind, which will get to a little bit later. John welcome to pivot. Thank you, Scott. It's a pleasure to share the Mike with the most charismatic and provocative professor in my building. Go on by the way to go to this. You and me, right. It's just it's just three of us. Yeah. That's a pretty low bar. That's definitely tallest midget syndrome. And by the way, congratulations on your most recent book, which is. No joke kind of blowing up, and you know, I can tell it's really successful. Is people are colleagues are really starting to resent, you if you if you get a Netflix series will start hating you. But anyways, let's bust into some of the biggest stories of the week and love to get your thoughts. Amazon passes, apple and Microsoft, most valuable company in the world. So some boasting here I've been predicting this for several years of finally, it's happening. I would argue that it's the kind of the baton being handed off from the iphone to voice have you thought at all professor about voice, and what it might how it might actually impact. Some of the things you talk about the pervasiveness of technology in our lives, and in our homes, and our kids kind of growing up with this was on technology. I haven't thought much about it. I've only we only just got our first device. Somebody gave us a the Google the little Google thing. The the only thought I have on it is that I'm very concerned as we'll talk about. Later about the way that the touch technologies, I think are lot more addictive than say television screens that you and I grew up with their interactive in a way the way that slot machines are and so far I think voice is probably not going to be like that conversation with the thing is kind of fun kind of frustrating. But it doesn't make people turn into like the, you know, the person sitting at the slot machine for hours on end. So you think it's less than Citius than the than a touch stuff in our colleague atom alter as a great book on this irresistible next big story. I don't know if you saw this, but bazo or MacKenzie basis is about to become the fifth wealthiest person in the world is they're splitting up and a private matter. Not not. I don't think it's that news worthy. But the thing that I thought was kind of interesting was the press release, and I just wanna read a line from it. We feel incredibly lucky to have found each other and deeply grateful. Everyone of the years, we've been married, blah, blah, blah, we've such life together as a married couple. We also see a wonderful future ahead as parents, France partners, inventors and. Objects, and as individuals pursuing ventures and adventures it sounds like they're going on a cruise together. And by the way, if someone who's been divorced. I just wanna tell both of them that that is exactly what divorce is a new and fun adventures together. And by the way, and I'm pretty sure basis listened to this that procedure he's about to have every three years called the colonoscopy. Isn't isn't an invasive piece of metal inside? It's a hot stone massage of as inner rights. Shit seriously. And if I okay so moving on Zaka. Berg says nineteen resolution is to host a series of public discussions about the future of technology and society. What do you think of Mark Zuckerberg going on tour to talk about this stuff? I think the fundamental problem that you, and I are going to be talking about is that social media and technology have put us all into a social space where whatever we say various strangers with assumed names are going to say incredibly nasty things about us, which makes us all reluctant to speak in public, and which kind of decimates trust, and speak up culture within companies and within the public square. So I would say that Facebook and other social media companies are part of the very reason why the idea of public conversation is rather unpleasant to most people I don't think we can really have public conversations anymore. It feels as if there's an entire industry that's developed in shaming in being Vic. Him or that the moment you say, actually, I think it's still the sign from you the moment, you're offended, you're medically right? That's yeah. I wouldn't say it's an industry. It's rather more that you have to look at any conversation. In terms of what people are trying to do and people are always concerned about getting prestige. And to the extent that technology changes, social dynamics so that when two people are talking they're not necessarily talking to each other. They're talking to the the possibly very large audience that changes the nature of interaction in generally in bad ways. Yeah. It's and what would you say what platform embodies the worst dot is a Twitter Facebook. If you spend time looking, yeah, I'm on I'm on Twitter, and that is certainly terrible for this. I mean to a lot of good things did a lot of information. But the dynamics and I see myself to we don't speak up openly. And honestly and fully at least hardly any of us do Facebook. I'm not really on a having a camp. But I don't use it much. I think longer form more emphasis on interacting with fr. Friends is not as bad, but it's so pervasive that I think Facebook Instagram, I think all of them changed, the dynamics and put us in this prestigious, Connie, you could say where we're really concerned about how others will read. This is this is a segue into your book. But I think it's an important one. What you you write a lot about this some of the the wealthier universities or some of the areas wealthier as that are popular with the university's kinda vibe is changed. What what's happened there down so beginning in two thousand fifteen we saw some twenty fourteen really we began to see some funny things on campus. We began to see students protesting over speakers. Now they've done that since the sixties on and off, but it was always protesting this person's offensive. We don't want this person here because we hate their ideas. And but for the first time around two thousand fourteen we started getting students protesting because this Eaker would be dangerous or a book would be dangerous, and so they would request trigger warning. So there. Was this new idea that students are fragile and that adults need to protect students from books words ideas, and speakers and this completely confounded most of us. What are they talking about like, David violence, like, wait? How is reading a book of islands? And so there was this new moral culture that we didn't understand it twenty fourteen two thousand fifteen and then it spread very widely in late two thousand fifteen beginning with there were protests yell and then spread to dozens and dozens of other schools. I'm so there's a kind of a moral incoherence on campus. Now, where a lot of us are in the older culture in which we think we're doing is pursuing truth in transmitting it, but a lot of students not most, but some students in certain departments think that the point of us being together on campus to fight for certain kinds of Justice into battle oppression. And so we have incoherence in the classroom where people are pursuing different goals. And there are there are mechanisms by which people can prosecute each other. And you mentioned that there six factors that have given rise to this generation of kind of fragility if you were. Some of the other factors. Yeah. So the the fragility part, so we'll get into mental health in moment. But there's a huge rise of exile and depression in students born after nineteen ninety five and actually and that actually is one of six contributing factors. When you suddenly have a big influx of students who have anxiety disorders and depression. They are prone to see things as dangerous threatening. You know, basic experiments bring people in the lab if someone has an anxiety disorder, and you show them random pictures, they're going to see more lions and Tigers and bears ambiguous situations. And so with the speaker comes to campus or for book is assigned and most people are like, okay. The great Gatsby. Okay. We can read that. But somebody says oh my God. There's you know, there's violence against women in it. There's there's classism there's all kinds of bad stuff. We can't read that. So the idea of seeing books and words and ideas threatening dangerous violence that becomes it's hard for most people to see that. But for people who are depressed are anxious. It's easier to believe that. So that's one the. Is depression, anxiety, the other the other really big ones are the the the huge overprotection that Americans began doing the nineteen ninety s and so when I travel around the country talking about the book, I always ask people how old were you? When you were let out that is when could go outside walked to a friend's house you and your friend could go to a park, or, you know, go to a store something and say, okay, people born before nineteen eighty two so gen-x and older and the answer's always six plus or minus one or two like nobody says ten it was always first grade or maybe second or third latest. And then I say now just students just people born after nineteen ninety-five. So that's jen's e and the answer is never below ten. It's anywhere from ten to fourteen. And so what we did in the nineties. So this is kind of crazy. But you know, when you and I were growing up I'm fifty five fifty four fifty five or something like that. And when we were growing up there was a huge crimewave. I mean like it was actually kind of dangerous crime to be outside. Now, you know, the criminals rarely would hurt kids. But there was a lot of crime. And then just as the crime rate is plummeting in the nineteen ninety s Americans get this idea that if a kid has ever unsupervised that kid will be snatched. And so we start hearing not so much in the nineties, but in the early two thousands, we start here in the first reports of parents who are arrested because their kid was found playing in a park, and that's that's child endangerment. We have to, you know, are you a fit parent. And so once that begins happening Americans further freak out and raise their kids in a paranoid defensive way. What we've done if deprived kits of the main nutrient that they need to become adults, which is they have to have practice being Thomas, and we said no practice until you're fourteen or fifteen. We're here with Jonathan. Hi, professor at NYU stern school of business, and author of the coddling of the American mind, we're gonna take a break and come back and talk more about tech and addiction. Hey, pivot listeners wanna tell you about another tech podcast. And we think you're gonna love it's called diverge cast. That's right verge cast. And it's at twice weekly podcast that covers everything happening in consumer tack and gadgets. So, you know, us we love talking about apple Amazon, Facebook, Google, these guys are exactly the same too scary thought, and they even get to talk about the people who are responsible for making some of the latest products and services that we all use lash are addicted to slash our Copeland love with on Tuesdays. The virgin editor and chief Neil Patel sits down with some of the most prominent figures tack and online culture, including Google's VP of hardware design. I've era stubs president secu- sink Cassidy and by the nose to a border. There's an incredibly impressive woman and go pro CO, Nick Woodman and on Fridays. Neil is joined by debone. Paul Miller and rotating cast verge staffers to unpack the most important talk about stories of the week. There's even a segment called this week and e- lawn. The tries to decide for well, whatever the heck is going on with Elon Musk. So what are you waiting for listening? Subscribe to the verge cast on apple podcasts or wherever you're listening. Everyone. We're back here with John. Hi colleague at NYU stern. John. There's a lot of discussion around this kind of expected millennial generation in the work floors. That is I would argue expectant, but also incredibly talented, what do you expect from or what will the impact be on corporate America? Is this sort of fragile generation if you will starts to enter the workforce. Yes. So first we have to be very very clear that the kids born in nineteen ninety five and after are, not millennials. So the kids the last millennials graduated from college. I mean, those who are at least going for four years, they graduated from college around twenty fifteen twenty sixteen everyone who's graduating after that is jen's E, and they have substantially different child. Born in nineteen Ninety-six you had a substantially different childhood than if you were born nineteen Ninety-three in that you got social media much younger age were more overprotected. So let's be very clear. Millennials are actually doing fine millennials are creative. They go out and start businesses, you know, every generation left Irag on the one behind it. But when you look at the mental health stats millennials are doing fine. The next generation is not jen's e there's a really sharp spy around twenty twelve twenty thirteen if you look at all the date on teen mental health, you see that nothing is changing except for. Depression, anxiety, and those are going very fast. Going up in boys somewhat and going up girls much faster. And so the the campus. So this is what hit us in on campus around twenty thirteen hundred fourteen when jen's e arrived on campus and brought their norms of safety and fragility and ask for more protection. Once they began graduate and getting hired now in the last year only last year, I'm now whenever I talked to someone in business. I've well very often hear story like we were in a sales meeting, and you know, somebody used a metaphor. And and they're told a joke, and and you know, next thing, I know there's a complaint HR, and and and you know, as one said to me where all just exhausted from dealing with this stuff. It's like, you know, we have a job to do here. And we're spending all our time policing speech responding, how do we respond to and it's not, you know, if it was obviously racist stuff, that'd be one thing. But like one story was, you know, in a meeting somebody said, yeah. But that would be like selling ice to eskimos, and, you know, a recent college grad objected and went HR and complained. Now, you might say, what's the is this an anti eskimo joke. But it it's it's a this is what Kuala culture's all about. It's not about did. You intend? Did you say something bad about eskimos that they have a lot of ice up there? No, it's if you can possibly interpret someone else's words in the worst possible way, you should do. So because that's how you get prestige points. And so this campus callout culture, which is completely into to cooperation. I mean people who do this. It's very hard to cooperate with them. You have to walk on shells around them. So it's going to have transformed is my prediction. I know you like predictions on this show. My prediction is that all the problems that we have on campus. The the endless conflicts over words, and clothing and food these endless conflicts are coming to you in corporate America depends on the industry. I hear they're already there in journalism in tech, actually. But I think they're going to enter just about every industry. I mean, maybe not mining or something, but any any industry that hires a smart kids from the elite schools, especially in the north. East and west coast is going to be importing this conflictual attitude. And what so I think we're already seeing it. We're already saying that the moment you complained HR every complaint has to be taken very seriously immediately. There's a general kind of stall where all right we have to investigate it in a can't be dismissed out of hand. And my sense is occasionally it's probably appropriate to say, well, that's a stupid, you know, that's get back to work. And and and show that there are some boundaries around. What qualifies is a complaint. And also to the extent that if someone is really brave coming forward, you create a supportive environment where they can they can reach out. But also to acknowledge certain instances that someone you know, this isn't a valid complaint. But what just so you advise our headmaster, how would you advise managers in these companies as they start to see this rise in for Gylfi? That's right. So yeah. So this is. Going to be huge. And I should work up an inspiring speech and approach that that leaders can give. So I think the key thing is with all these conflicts, you always have to start by by looking at what what are they write about what the other side right about? And so I think the company will you just sort of say come on get thick skin. We're get get back to work. You know, you might be masking some problems and obviously with with me too. And other things we, you know, there are real problems. There are culture problems that have to be addressed. So I think the first episode company has to show that it is serious about about creating a welcoming inclusive culture that it's serious about cracking down on these plays of racism or sexism. So you can't just you can't just give speech you have to really show that your heart's in the right place, and you're working on it. Once you do that. Then I think you can give a speech more long lines that you were suggesting something like look where we're all together here to do something together. We think we have a great product. We. Think we serve our customers. Well, we're in a competitive environment. And if we don't if we don't pull together and hold together, we're going down. So we got to work as a team. And if you if you invoke a noble, purpose, if you invoke encompassing identities, then I think within that you can say okay now, how are we going to resolve are disputes? There's going to be endless misunderstandings for human beings, for God's sakes. Always going. We're gonna make mistakes slips of the tongue. We're going to misinterpret each other's words. That's always going to happen. Let's decide how are we going to do this? Are we going to initiate a bureaucratic procedure every time if so we're going down, and we'll be out of business in a year or two or are we going to try to give each other the benefit of the doubt and try to work this out? So I think the more company has rigid bureaucratic procedures to handle grievances. The more it's going to resemble a modern college campus just with endless endless bureaucracy, and as you know in our bathrooms have you noticed the signs in the bathrooms at stern? Yeah. So yeah, it's, you know, it says, basically, it's basically says if you see something say something that we have a bias response team. And student students are told here are three ways you can report anyone who you think has shown bias which and the data shy mean what the what they're basically responding to most of the cases are students reporting professors for something that professor set in class. So, you know, we're all teaching eggshells, and I think the corporate world, obviously, you know, you always have to be politics. Does have to be careful, but I think it's going to get a lot worse. You know, it's you'd like to think universities would be a safe place where we'd be a little bit more generous. We've each other. And if someone in an attempt to be provocative or push the boundaries of your comfort zone around learning that we'd be generous with one another and I find that generosity is disappearing. Exactly those go ahead. That's the heart of the problem. So as a professor as an academic, we trace our lineage back to Socrates he is our patron Saint and what did he do for a living? He provoked that was the whole style. And so you had they couldn't really do it in downtown Athens. What they did was they removed out to a grove of trees just outside of Athens, where they had different norms, and they created the kind of community in which people challenge each other out of those challenges and conflicts the truth emerges. That's our foundation myth, that's origin story. And that's the way I experienced the academy until twenty fourteen and twenty two thousand fifteen everything changed and now I am not provocative. I don't tell jokes. You know, because I have to teach to the most sensitive student in the room not the average student. Not the. Yeah. So must be possible for you. I don't know how you hold your tongue tongue seems to be on a very loose leash. Oh, no. I'm I'm I'm, you know, I'm always five minutes away from losing my keys and being unceremoniously kicked out NYU because you can just see these kids. They're actually so. So far been pretty like in. They're usually pretty generous man, I think a lot of it as you walk in with a reputation for being off around these issues, I walk in with a reputation for not being thoughtful around these issues. So there's a bias that people who take my course are prepared to be a little bit offended, but it is out of control in the signs signs of graduated from. We're on the ninth floor stern. What's the top floor and the sign on the door to the roof is if you are feeling depressed, please call this number, and I think that's a worth while sign. And now they're signs in the bathroom saying if something has bothered you report it I mean, pretty soon it's going to be signed saying, if you're having a bad reason, it's someone else's fault and call this number. It's just it feels really really kind of really over the top. So let's get back to corporate America. If feels is if you teach a lot about ethics and leadership and focus on these issues, and how the intersection between the thought leadership in the corporate world. And I've always thought having spent the majority of my career in the private sector. If you don't assigns. You know, what gets measured gets done and someone has to be responsible for something who in a company is responsible for what you would call moral ethical leadership is chairman of the board is the c o because it seems like unless these things bubble up and who's responsible for framing these issues and making decisions around them. This e o c the way. Yeah. The way leadership works like a logically, you know, humans evolved in this interesting way where we we we were primate species. So we're hierarchy. But yet we live for a long time in hunter gatherer groups that are very gala -tarian. But then as soon as we get agricultural surplus we go right back to being hierarchical. So we're willing. We're we're designed for hierarchy, and we looked to the leader to provide leadership and especially to resolve conflicts. That's something even chimpanzee leaders, do generally bullies and not good leaders. But they are expected to resolve certain kinds of conflicts. So we don't look to the chairman of the board. We naturally looked to the person who is in charge. And and that gen- generally is the and so. So if the if the tone at the top is not good it's almost impossible for two to improve things. Elsewhere, it's very difficult tone at the top is not sufficient people are as much more effected by what those around them are doing, but you have to try to get alignment between the messages and the actions given by those at the top those in the middle those all around you. So I co founded a site called ethical systems dot org. And we the idea was there's all this research out there on how you can improve your ethical culture, but it scattered across all these different disciplines. I didn't know it when I came to start even though I study morality, so if if listeners to ethical systems dot org, we have a lot of advice how to measure ethical culture, we're specially working on speak up culture project. How do you measure who is afraid to speak up about what? And why and they're huge generational differences. You know, older people kind of well, if people have a problem, they're going gonna come tell me and younger people saying no way, I'm not doing that. So the the. The executive leader the CEO was responsible for putting out inspiring message for Saint making clear that he or she cares about ethics rewarding for it. Hiring and firing and promoting for it says a lot that you can do. But it's gotten a lot trickier in the last couple of years because of this attack your collapse of trust due to the call up culture able by social media. So what do you do if it's let's the second example Facebook impurity viewpoint on this feels like there was negligence in terms of not putting place to safeguards to ensure this platform was in weapon is a lot of evidence showing that this the product I put out results in teen depression are elections may have been contaminated and the CFO sets the tone, the CEO a lot of people would argue can't be removed from office. Is there does the responsibility fall to someone else shareholders us voters to put in place people who can regulate these companies because it seems as if Intech right now, there's a lot of what could loosely be deemed unethical behavior who is? How you know? What's your viewpoint? How do we address the problems at Facebook? Is it you're saying, it's the CEO? Well, I'm saying that the CEO has the ultimate is the person who sets the tone. That's what I said. Now, if the CO is being unethical irresponsible, then I think it is the board's job typically as an case was bird. It's even do anything illegal. It's not it's not it's not so clear that their grounds for removing him. But Facebook, I think has has changed so rapidly, and it's become so powerful they really have to do a deep reckoning. And I'm not sure how that's going to come about. I've spoken there. Few times. I know a few Facebook employee's. I think it's a company full of good people full of idealistic people. And this is the one of the basic things about business ethics bad things happen, not so much because of bad people necessarily because systems are in place that allow things to happen that in retrospect are terrible. So one example is I nearly deleted my Facebook account. We there's this steady drip, a problem. But when I when I read that your time thing few months ago that the phone number that I provided for to step. Affiliations that those phone numbers are now are now part of the network of information, I felt so betrayed and I asked a friend who was a former employee, and he said, well, you know, nobody said out to do that certainly wasn't. It wasn't the goal wasn't to do that. But you know, the we're trying to grow the network as fast as we can we have to make the big gets the more valuable it gets exponentially. And so once information was in there just somehow kinda got, you know, pulled in. And so I think an important point about Facebook is that it now has so much power in doing so many things that if its employees aren't all looking out for problems, then problems are going to just keep growing multiplying. And so you have to have a speak up culture have to have a culture where people feel that they have the good of the company heart. They want the company be successful. And if they see a potential problem, they're going to say something, I just read something I can't remember where it was a few days ago about some signs that there is not such a culture at Facebook with employs are free to speak up. So I think Facebook has to do like like most big companies they have to do a lot more to. Encourage employees to feel secure speaking. I think an ombudsperson the research to show that having an ombudsperson is generally, very helpful to that person can resolve resolve problems more informally often. So I don't want if about Facebook to very specific advice, but you have to have a culture, which everyone is looking out for problems and has a way to bring them up yard onto the general reputation of Facebook. They're incredibly this cares. Word docile, whereas Google has very much that that speak up culture, just real quickly another what I would argue is sort of an ethical lapse was this kind of should show con not contest of HQ to where it feels to me in retrospect that there's a lot of evidence that this was never really contest that this was the cake was baked the game was over. And this was just an elegant transfer of wealth for municipalities to the shareholders of Amazon. What's your take on that? And who do you think this is what you would describe as an ethical lapse? And how do we as shareholders? And as citizens, you know, push back on a firm like Amazon is is pushed back required or were. They just doing their job. Yeah. Well, I'm very influenced by Richard Florida here. I know the spoken with him. And he was very upset about that. He could see it coming. He you know, he he could see what Amazon was doing and playing cities off each other to force them into a race to the bottom to make more concessions of taxpayer money. So yes, it was very manipulative. I think clearly it was a strategy to gain various advantages. It wasn't as sincere quest. I don't think. And you know was that ethically wrong. Well from society's perspective. Yes. Part of what happened to American capitalism in the nineteen seventies. Was we had some clear ideas, laid out about how the ethical responsibility the fiduciary duty the duty. Is of of executives and leaders are to the shareholders maximize shareholder value. And so as that that idea of shareholder primacy took hold in the seventies the idea, and I you know, I see it in some of MBA students. I'm sure you see it to the idea is that there's only one stakeholder that matters. And that is the shareholders and extent that you ever care about employees or even customers it's only to the extent that doing so will increase shareholder value. Let's terrible way to think about business. It is the it's become it's not the way that it's thought about everywhere in the world is not the way that America used to think about necessarily it might lead to more dynamism. I'm not I can't say that. It's absolutely terrible overall. But I think that a stakeholder view this is what we're trying to teach him many business schools, taking stakeholder view just telling people look good business means managing a lot of different relationships. You've got to keep your eye on all of them. And if you focus too much on the shareholders, you're gonna you're gonna end up doing some bad things. So you know was Amazon doing the, right? Thing well for its shareholders, it probably was and so unless we get either more regulation or new norms that businesses have social responsibilities we're going to keep getting this. And of course, that's what Larry thinks letter to investors. Last January was was I don't know. I don't know what came of it. I don't know whether businesses are listening, but the idea that we're gonna we have to start judging businesses more by their social effects. It's it's the longest running debate in business ethics, and I think the new chapter just opened up this year. So let's talk about a little bit out winners and losers. Not ask I'll ask you. If you think that apple is a winner. It seems to me that Apple's been very effective at starting their hat white in two thousand eighteen and trying to separate themselves from the rest of big tax and say that privacy is a basic human, right? What are your observations on kind of Tim Cook's dignity tour in basically trying to say, we're the good guys? So as a father who has been working on this for couple years and trying to figure out, you know, how do I how do I put healthy limits on my kids without being too intrusive? I've gotta say those new apple apple controls worked pretty well. And so I think apple has responded. You know, they there was they were taking some heat last year. I don't know how long these were in the works. But I think I think Facebook emerges, the one that has most of the more ethical problems coming up and apple is far as I know has had fewer. So I think they they are at least taking seriously this issue of tech addiction and the and the mental health effects that that may have so loser. Facebook winner apple you would any other winners and losers from the world attack that you would think are doing an especially good or bad job trying to address these issues. Oh, let's see. I guess I don't know. Yeah. I don't know the insides of the tech companies well enough well enough to say, I'll I'll leave that to you. What what do you think? I think you summarize it. I think apple I don't know if it's I mean. Tim cook. Sudden concern over privacy is similar to if Larry and Sergei all of a sudden became very worried about device addiction. It's awfully convenient forum because he's basically sticking his finger on the soft tissue of companies that traffic in Dato, specifically, Google and Facebook. So it's I think it's a I'm not saying it's not principle. But it is. But it is awfully awfully convenient and Google has had this incredible heat shield in the form of Mark Zuckerberg and shell Sandberg who are arguably kind of the most Photoshop images in the history of business, and they've been in the just been the the the bad guys here. And I think it's it's probably only gonna get worse. So. As a dad as a professor, you know, what are the one or two things you're most optimistic about and most concerned about and I'll brought it up from technology to the world of politics reliving living. Now, what you see in terms of our youth, and at at you know, what I call one of the fifteen top ten business schools in America, arguably producing the leaders of tomorrow when you if you were to talk about predictions if you were to try and predict one or two kind of real issues concerning issues over the next ten years across everything you look at what would those what would those one or two things John letting the number one thing is the mental health crisis of teenagers, this skyrocketing rates of anxiety, depression, self harm and suicide, which are specially effecting girls. The data wasn't so clear in two thousand fifteen when when I was reading my article with Lukianov, and now, it's really I think we're gonna see in the next year to a national reckoning, and this is happening in Britain to they have the same things candidate to we're gonna see. National reckoning with the fact that we are in danger of losing generation of that we're gonna have generation after the millennials is going to be much more fearful much much less able to face risk. It's gonna impact the business world is going to impact innovation. So I think the next year to is going see a major reckoning with this and a recognition that you know, what sometimes good intentions produce bad outcomes and we've been over protecting kids. So I think we're gonna make some big changes in how we raise educate kids. The other thing that I'm very encouraged about is we didn't really talk about identity politics here. There are two forms of identity politics. There's a kind of a nasty common enemy identity politics, where you say, you know, it's all the fault of the oppressive groups and the victims are the good people. And that's what we have mostly on campus. Is this common enemy? You know? Everybody's supposed to unite against the straight white men who are the evil oppressors, and that can never lead to progress inclusion harmony trust that's just that's the road this conflict. But what's encouraging to me is that just in the last year. Here. And I think it's because as we've seen right wing, racial identity, politics, and we've seen white supremacy and Nazis and things like that. I think that's encouraged a lot of scholars who are not white men there. Lot of black and Muslim and LGBT professors. Who are suddenly saying, you know, like, wow, we've got to stop doing this. This is not the way to to promote harmony an inclusion, and so, you know, Amy Chula writing about a political tribes Francis. Fukuyama about identity happy. There's a whole bunch really good books last year. So I think my optimistic that we're going to break out of this sort of death spiral of mutual hatred. Impeding groups against each other. And we're gonna try to use some more psychologically sophisticated and morally uplifting. Weighs more in the form of Martin Luther King and many of the early. Civil rights leaders. We call this common humanity identity politics. So I'm optimistic that things get so bad on campus. At least is there so bad that there's a rising. Recognition that we got it. We got gotta change course. While you're you're the Optimus. Sometimes I think it's just before it's pitch black. Jonathan height is a professor at NYU stern school of business and author of the bestselling book, the coddling of the American mind, professor height, you're doing important work. I'm so glad we had a chance to discuss this. And I will see you around in the hall stern. Thanks. Thanks so much. Thank you. Rebecca synonymous produces the show. Nishad Kirwa is vox media's executive producer of audio. Thanks also to Iraq Johnson. And of course, exit our guests Jonathan thanks for listening to pivot from box media. We'll be back next week for more of the breakdown on all things tech and business. If you like what you heard please subscribe on apple podcasts or wherever you're listening.

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Dorsey moves to Africa and streaming platforms trump movie theaters

Pivot with Kara Swisher and Scott Galloway

36:11 min | 1 year ago

Dorsey moves to Africa and streaming platforms trump movie theaters

"So you want to start a business. Now what aspiring and early stage business owners asked that question a lot for every now what moment male chimps new all in one marketing platform is the answer with easy to use tools like their number one email marketing solution social post scheduler and marketing. CRM You can build your brands online online presence and keep customers engaged wondering now what start with male chimps all in one marketing platform. That's what learn more today at mail. CHIMP DOT COM com. That's mail chimp. Dot Com. Hi Everyone. This is pivot from the VOX media. PODCAST network network. I'm Cara Swisher skype. Gallery Rebecca cute a cool and the gang my God. It's his dad's not Friday. Hey what is going on. That's right too much of a good thing as cocaine but it's also pivot twice a week. What stands between the tyranny of technology analogy marching into the aisles Dover and taking over Britain a jungle cad journalists who wants to be the Godmother podcasting and an angry queers ours? Come off the fucking track. That's right ladies and gentlemen one plus one doesn't equal to it doesn't equal three equals could've twice a week not exactly song envisioning for our first second show. How exciting is this? How Exciting I? I cannot believe how excited I am right now. I can't even tell you you're welcome. Welcome this is like ground up cialis on a Toco Burrito goal in that we will enjoy our listeners will enjoy us. They're consuming it. And then for the next seventy two hours blood will be rushing to a new organ nerve rain really. That's really how you WANNA play this one. How about this and this great that our our listeners can hear twice a week now because that's the way it is and it's appeal to their higher higher nature rather than their lower nature to Scott? That's fine Scott. How was your Thanksgiving same thing? Same same as it is everywhere cracker barrel club. Okay all right anyway you got huge blowback speaking of Turkey they also give each blowback for endorsing Bloomberg Bloomberg on CNN. Would you care to comment a good segue. SEGUE got enormous feedback. Both online and I went on Michael. Michael Smerconish who I think is wonderful Michael on CNN but go ahead move along this. He's like this rare species where they captured on film and say we. We thought it was extinct two thousand years ago but there's actually a lot of that force their co moderated and. I just love him. I think thoughtful interesting anyways I wrote that article urging Bloomberg runs. They said come on and talk about it and I went into kind of went through my dance around. I think centrist is important and Mayor Bloomberg running what is would be the twelfth largest economy in the world world in the important to most important I got wild blowback. I mean one of the wonderful one of the many wonderful things about this PODCASTS and what we do is I hear from people and people were were thoughtful to the point where really thoughtful but generally thought okay. We don't need another billionaire. This is another example. Thought crazy white billionaire privilege that people are really bothered by the stop and Frisk me too. That was just my feedback but go ahead keep going. Yeah Yeah well a lot of people are with you And that's it for him to Kinda get in late in the race and use money to buy kind of. I won't say by the way on that stage because it's not going to get on the debate state but I would say was running kind of three or four to one negative to positive and I can't figure out vocal minority or I have totally overestimated. His potential potential for candidacy. I thought he would be much more welcomed if he had done it earlier. Because he's such a choker maybe if he had like done a little work we'll spade work initially initially and not been such a such a coward not to get in early. He should've gotten earlier. What was the problem with that? That was he just. I think he probably looks at a poll. And he doesn't like getting any changes his mind is key billionaires are capricious whenever anyone get as offered a job but For with one anytime always like think hard because it's a very pre even. It's a very nice person. I think Bloomberg's quite interesting and people like working for him but it's capricious and so he should have done it from the very beginning and done the done the work and the spade work that others did and it just it. It drips any should have addressed the stop and Frisk thing a lot earlier. except I'm so sorry because now it looks simply. It doesn't look reflective it looks politically expedient and so what you know and I know you're seeing people liked it like you don't want to appeal to that. I'm sorry it just that's not that anyway to govern. It's not any way to run for office. And I want not Leoni to be our president as she is on the outgoing Madam Secretary now. I'm very excited about that. And I just WANNA be clear I don't I I don't think people like stop and Frisk and I think it's obviously age very poorly but I think people. I think that one of the one of the this this cohort in the middle. If you will I think a little bit of I don't want to call it political incorrectness but someone who's not who's not what I'll go call. Full woke appeals to that segment of the of the voting population that may be the key cohort in terms of who gets who stays or who gets into the White House but anyway I got a little push back. How was your thanksgiving? Anybody anybody might Thanksgiving was excellent. It was a many pies and many Amanda cats relatives so So it was quite it was it was quite something. It was a lot of people big family. Meanwhile my kids were in Japan so it was could be seeing them soon. We'll do we're GONNA do Thanksgiving with my kids to anyone. Scott time for our big story breakdown on our second show of of the week let's talk streaming wars and how different players fared on the first big holiday weekend did you Went you give us your definition of streaming wars and and the major players and and and did you watch a lot this weekend. Yeah I always watch a lot of TV because it was it was the weekend but you have a lot of people say well if you really WanNa talk about streaming words need to define also include bras television who have their own offerings and Youtube. But let's say and movie theaters. Yeah that's right but you have. We obviously have to the ten guerrilla net flicks. You have everyone from comcast getting in Hbo Max Disney mean they're all they're all lining up. It's it's It's very strange for you. Found some data on smooth. It's reflected in my own life. I thought about going to movies about ten times. I didn't go once. Wants which was really interesting because it was not just because I have a small baby but it just it's inconvenient. The weather was cold so there was a sixteen percent decline from last year and movie ticket sales. This holiday weekend and and what was interesting is one of the movies I did WANNA see at. The theater was the Irishman which I then waited. I waited to see on Netflix. I did not like it by the way but Disney's frozen did very well You know this is Disney's first major movies since launching Disney plus And I would have rather I didn't go see it. I was. I was GONNA go see it because I like frozen and But I didn't and I my moviegoing. It is has declined so precipitously and it's largely because of it's sort of like the Shopping Ping thing it's it's relatively inconvenient Comparative when it's easier to get other things and I feel badly about this and at the same time movie theaters. There's never done me any favors. Unless it's sort of like landmark theater or something like that So one of the things with the Irishman It was only in select theaters for twenty six days. which major major theater chains were furious about? It did pretty poorly at the box office but it but it seems like a success on the platform and getting Oscar. Buzz You know they don't of course. Release Their numbers the way movie theaters Released but why even released movies to the theaters. I just I just watch online and I. I watched on the on a large television. But I just didn't I didn't like it that's a separate thing But it it just sort of changes behavior is changing rather rapidly. I mean there's a couple of interesting things things going on. The first is an ECOMMERCE. The right analogy if you go into a mall and you find yourself around. Would you know that it's not two thousand five. The innovation innovation around in store shopping. Some people who've done interesting things restoration hardware four are even Tesla's dealerships sort of interesting in the mall apple even Apple. If you think about the stores you probably wouldn't know it wasn't two thousand and nine where shopping online. The speeds have gotten faster. There's all different ways to pick up your stuff. You get in in five days three days twenty four hours now in some cities forty eight minutes dams on now. The same thing has happened to move you and that is if you were to walk into a movie theater her you might not know. It was in two thousand five whereas the home viewing experiencing downs of what's offered up online that that that programming or that platforms ability eh predict predict. What it is? You Watch next. You Have Four K now Aka. TV's are wonderful content angry. Actually the selection unbelievable it went through the net flicks trailer thing and there. They do it really well. You can watch them for two seconds and get a sense of what the shows are woods. Great I like picked from there and I used mostly net flicks. I didn't use I even though I did get Disney plus. I didn't use Disney plus because it's not on The whatever system I had It wasn't on the comcast system I don't think but it was It was it was just it. Was it just interesting. How you how easy it is? And you're right the the experience this is Of getting up and going out is really different but I think the issue is. Why don't we get the numbers for these things I mean do? Will they ever released numbers. These companies no. Because is I think the numbers On an individual basis are actually pretty pretty thin but all they care about is reporting. I mean that's one thing that's happened across. All all of finance that I think is a bad thing. It's gotten to the point where companies can make up they invent their own metrics and whatever shows them in the best light in when the markets were valuing companies purely subscriber growth. They kind of ignored the profitability. And said this is how many subscribers we're adding and they had different terms for EBA but yeah I don't they don't I don't have any incentive right now to release To release their numbers. Do you find you in terms of your home viewing patterns. What do you find yourself watching the most and least of what what what is it that I I just? I sort of Grey's I graze. I was watching that four weddings if a funeral one of the the the new one by Mindy Kaeling I grazed around to you watch a CBS. Which I didn't WANNA buy but I ended up watching it through comcast? which was you know my comcast xfinity? Count I watched The Irishman obviously which took fourteen years Because it was so long and and some other things just but I- Graz Graz a lot and and I don't I don't pick or choose one and I guess it's sort of like owning a as I said a lot of magazine Subscriptions We're going to move on this second. What can get people in theaters? Do you think I'm GonNa go see the new James Bond movie in theaters for sure. I don't know why but I really like to see that movie in a big theater and I don't even think the home experience is That is good enough in that regard will just as the only the only time people see we were talking about TV. The one thing that people don't talk enough about it is the common the common threat through all of this is the one thing they're watching is they're not watching commercial. If you look at all television what had has in common is that as I've said for a long time. Advertising has become tax that the technologically illiterate and the poor have to pay and everybody else just watches at free. TV Now the only time people get off their butts and actually get excited to go to a movie. Yeah I think it's either for a kids film because kids programming so important it is Kinda like get them doing something or get them off your back and also these big budget Eh. Two hundred three hundred million dollar marvel superhero films. It's scary part. That's right but the scary part around all of this is that I think I think one of the one of the things that's tearing our nation apart you know in addition to algorithms that question one polar another run by rabbi unethical people. I think there's a re desegregation of our society and that is to the eighties and the nineties There are a lot of efforts and my school was integrated with bussing. We we did a good job of introducing different socioeconomic and different ethnic groups to each other and I think it was a wonderful thing because my two best friends one was a Mormon kid going into Stanford and I thought okay. He's smarter and harder working than me but but he's not that much smarter and harder working than me. Maybe I could go to a good school. And then my other friend Ronnie Drake DOC was a black kid from crenshaw WHO's only way college football and it provided kind of those those the different economic and ethnics ethnic groups gave me certainly aspiration but it gave me empathy and as a society where we re segregating and when I I generally believe people don't like to go to the mall or the movies anymore because they're scared of each other and for the most part just want to hang out and their own economic and in their classes that we are. I think that's a that's a very. It's a really actually very wise thing after your opening cialis cocaine you suddenly woke but whatever I'll take not in any way But listen listen. Speaking of that speaking of woke I'm GONNA move onto another type but I just Wanna I wanNA stop. I WanNa ask you Jack. I'm not but when I go to the movies there I go to the mall. I don't I think to myself okay unless I can go to. I pick unless I can be around and you know these general like massive movie theaters to May and may cause I'm old and I see all these young people I think okay. Is this where I wanna be am. Am I becoming part of the problem. And then we pull our kids out of public school so they can be around people in their own economic weight class. I think it's really dangerous that we're kind a self cast self casting all right. We'll use that term speaking of cell. Just gotTa get two things a tight tight show you but you're right. I liked very very wise. These are very wise thoughts. Jack Dorsey Moot says he's moving to Africa for part of Twenty Twenty announced via tweet condom for three to six months in twenty twenty s at African defined find the future especially the bitcoin one He was traveling around and he met bitcoin owners in Ghana and was sort of. It's sort of an interesting. I'm not sure I sort of contacted the twitter trying to understand this and also square because he's the CEO of two companies Any thoughts upon this. Well sure that the problem isn't that Jack Dorsey is going to Africa. It said he's GonNa come back. This is this is is so I got contacted acted by CNBC this morning. And they said what do you think the corporate governance AC- leaving and spending two or three months in a market. The accounts for pro I would bet. Less percentage revenue. The only board that would tolerate this is aboard would tolerate a guiding. CEO's to companies. What do you know what you're saying board and this is in my view and I realize that sound like a squadron and old man here but this is just this is just fucking ridiculous it is you WanNa talk about the mother of all paid time? I'm off. He's decided he wants to live in Africa for two to three months while twitter continues to subterfuge our economy and be a real negative and a real flash point for our elections. He's decided I'M GONNA go. I'M GONNA go roll in Africa for twelve weeks the guy in the SEO companies going to Africa it is this this is so borderline ridiculous and it continues this notion of this idolatry of innovators at the CEO of Ford Motor said. I'm going to go it to Iceland for three months because the future is around. Steve Ecological Tourism or sustainability or clean energy. Right they've ED board affordable go well. That's fine acute. And then the and the the nominee committee would have a special committee and they'd start looking for a new. CEO It is ridiculous. It's GonNa you know it's finally going to going to put a bullet in Jack Dorsey twitter career. Is that Amazon over the last for years Jack Dorsey Rejoin twitter exactly four years ago. In that time I think twitter stock was at twenty bucks when he joined. It's like thirty now. It's flat at Amazon is triple apples doubled. FACEBOOK has doubled. Google is doubled his tenure since kind of trying to pull a Steve Jobs. It just hasn't worked and it's one thing to be C- of two companies it's one thing to be of two companies and decide. You want to go hang out with rhinos in these. He wants to talk about technology. I mean I think the implications. I think you're right. I think you're right on this. I think he should quit and have another. CEO If he wants to do that but one of the concerns. One of the concerns is sort of the way that tech people visited the Mid West. It's sort of weird colonizing kind of thing that said there's a lot going on in Africa. These active tech hubs everything is you know. It's it's a continent that is finally using tech to move forward And it's it's actually a great place to invest from a lot of people. I know Who Do that investing? But the era right he should do. It is another job he should do. It is another job. That's a great idea. If he'd said I'm worth four billion dollars is has been a great run. Thanks every much peace out. I'm I'm starting a VC. Located located in you know in Tanzania wherever that would be amazing Africa is the future you you you can see. It's GonNa come online and I get a lot of pushback pushback. I got a lot of push pushback online this week for using the term Africa. Someone accused me of being a racist by by grouping a continent. It's a group of individual and individual cohorts and cultures and so fair enough. You know where wherever he decided to go in the African continent. But this is ridiculous. The Dakota see that's what am I gonNA go. I'm ready. Hey I was thinking anti Canada. Goose Co like. I bought this weekend speaking of which I went to a mall to buy one but but it it is. You're absolutely right. It's problematic. I'm trying to find out more and I will try to report back later. This week. so we're gonNA take a quick break now but we'll be right back back after this with more pivot on our on our first second day first day all right seasons some say the best things in life are free while others suggest. There is no such thing as a free lunch. You be the judge. Peter Singer's the life you you can save is now available in a free book and Audiobook Kristen Bell. Paul Simon Stephen Fry and other supporters narrate. How you can help reduce suffering I ant premature death for those living in extreme poverty in December during giving season a donor will give one dollar per download to the life you can save dot org up up to fifty thousand downloads? The life you can save is a nonprofit based on the book promoting the idea that we can and ought to use some some of our resources to cost effectively impact the lives of those less fortunate than ourselves. No matter where they live it is often said that whoever saves one life saves the entire world visit the life you can save dot. Org today for your download and discover cost effective ways to save lives okay listener. Have you been seeing this mean all over the tick talks and the twitter and the grams and the facebooks okay boomer and wondering what the heck is all about well so have we. We being today explained Boxes Daily News. podcast I'm the host. Sean Roms Firm. Hello we we were wondering what was going on here. Is this meam driving a divide a wedge between young and the old is that good. Is that bad bad. Why is it happening? Is it because of socioeconomic circumstances because we're misunderstanding each other failing to communicate properly we do on our new episode. Okay boomer the deep dive into this mean that you've been leading for and we also spent some time talking about the history of generational divides and whether the whole whole thing is just one big construct find the episode now in your feeds today explained Okay boomer thanks for listening okay. Welcome back to pivot. Let's take some listener mail. This week's pivot listener. Question comes from Renzo Santillan. He thinks it would be cool if you guys could talk about the tech companies that are disrupting the logistics industry. He's talking about flex port next trucking on Voi- happy returns and any other company. That is disrupting this archaic industry. Let me know your thoughts. Thanks Renzo all right. I'm going on on here. Scott you know I had a fedex issue here we go. I saw. I saw this on twitter. Oh my God day soccer. Just say Fred Smith I you know. I'm glad you're getting no taxes. But whatever but let me just tell you it was such a lesson I had something delivered from Amazon and something delivered from Fedex and I had made a change change of it. I'm not going to go into it in detail but I paid to have the address move to where I was at Thanksgiving. I paid a lot of money to do that. And they didn't deliver it on time when they were supposed postive when it positively has to be there overnight while they didn't do that and they promised it would be there a certain type and then on the APP they said it was going to be there and then it wasn't there and then they suddenly changed the time without telling me or contacting me or anything else. This was very important papers and and then trying to get through to them. I was on the phone for hours of Fedex argument. I tweeted at them. You know I had bill early tweet me saying I was trying to be famous helped me. I wasn't trying to help me. I paid money. I would like to know what happened to it. I think I think twitter's become a comment system. It was an astonishing display a like total disaster. Meanwhile Amazon delivering perfectly. And then I had to return that thing because it wasn't the right thing and I already sent it off today. I I did it all online all on the APP it was so easy and it was no questions it was easy to understand fedex a they were like if you WanNa refund you have to go to a refund department. We can't stop it because it's in a container and we can't turn it around. You can't do. It was like literally they're gonNA get killed by by Amazon and if Amazon decides just to go into the logistics pences. Thank you very much that is might rant. Scott you're about to have your bench Amazon will Amazon's going ended this business and all you need to do is look at once under the investment section for about ten years. They talked about how much money they spent on film and then a few years ago. They moved their verbiage. And investment disclosures from the investment section of the cap ex section to the competition section. And that. Is there now saying that Fedex. UPS or competitor they did with aws. So they're about they're about to go into this business in a big way Fedex made the mistake of becoming a profitable company returning earning profits to cut me the other the other big mistake that Fedex made where I would argue is it similar to General Electric rather than focusing the attention on operations innovation. He's been totally focused on tax avoidance. And if you look at I mean it looks as if the trump tax act reduced corporate taxes from thirty five to twenty one percent was largely orchestrated straighted by Fred Smith and Fedex under the auspices that if you let companies hold onto their two more of their money. Even despite the fact that it's going to increase the the deficit by a trillion dollars a year that you will unleash this. Massive amount of investment and plant property equipment new jobs that will literally result in a nuclear like explosion again tap demand and investment from from corporations. And this is what happened. Every company took that money and bought back stock or the Stock Market Labor Yep but took the stock's up which has a ripple effect. It's good they can. They can do things with that. Stock but eighty percent of the stock is owned. By the top. Ten percent all this was was a chaser on income inequality even Fedex did exactly that they went out. They didn't increase Cap Bax. So this and what. What have we done here at the end of the day with this Fred Smith backed Tax Plan is we've said all right let's pull prosperity forward from our kids and grandkids in the form of exploiting our national debt so we can take stocks up which largely benefit the wealthy. I mean like every every policy in America like every corporate lobbyists it does one thing it takes money from every cohort in America and transfers it to the wealthiest cohort Gordon. History old people in America who owned shares. Getting everything we do. Try to make those people speaking of of someone who is an older entrepreneur. Fred Smith who really did pioneer. This area is literally. The APP is terrible. Their customer service is terrible. Like literally really. I felt like I was I. I The contrast between them Amazon by the way. UPS actually where he works pretty well comparatively but the COMP. This is such a wide open in space to grab back from Fedex. Like I wouldn't I would never use Fedex again like astonishingly like I really like the experience I had was so bad and it was so none innovative data they Mitterrand's back in ten years ago I could. I felt like I was with ten years ago with them. So let me just say. I know there's controversy about Amazon delivery vans and I. I saw them all over by the way this week and weekend. Everywhere Amazon's Amazon branded vans They do they if they need to work out their issues around around all kinds of to speedy everything else but boy there. Technology part of their equation is is flawless. Flawless and one. Last thing I'll I'll say is a man who hates Amazon. My girlfriend is like I can't stand that it works so well but it's astonishing like in his. It's an astonishing because she's for years ears. Try to worry US local retailers etc etc So it's But in the logistics space someone's got to dominate. And it's certainly not going to be Fedex Anyway wins and fought fails without. That's failed to me but wins and fails sir. What what are your wins and fails so my win is speaking of movies There's a wonderful. A new movie called knives out starting Daniel Craig James Bond Fan. Oh yes they heard that right and it's nice. It's the thing that struck me about. It was kids. Can Kids. Kids can watch it. It's not for young kids but I took my nine of my twelve year old boys. It's kind of a throwback to the Agatha Christie drama it's cute there's not a lot of violence it's got some wonderful actors. I think Daniel Craig is an under appreciated actor. I think has been. He's very. He's a solid actor and he's really puts on a southern accent here and he doesn't fall asleep on a day arm us. I think I got her name. Right is just wonderful in Toni. Collette who's a star of my my favorite movie in history. Three six cents isn't it. It's just a great interview isn't just yeah she's great. She's fantastic movie minute me all right. Okay what's your win already wins this week. I don't have any wins. I'm Mad I'm also from the field this week. It's not exactly a fail but apple Changed got a lot of heat for changing map. Lines to include Crimea in Russia. Russia annexed that Ukrainian territory in two thousand fourteen under a lot of controversy. Now Apple is reviewing how it deals with international borders on its maps and so I think everyone's gotta think about this mapping thing because it's always been controversial forever the idea about maps but these companies change them when they're operating in those areas now to be fair they're only showing them to Russian viewers these maps so so they're letting their leading the lie perpetrate in Russia And so that's I don't know what to say. They are falling the laws of those areas but at the same time it's somewhat somewhat reject and then using other maps for other people so I I don't know what I would do again. This is another area where these big tech companies which had taken over mapping that would essentially be apple and Google and some others? are really caught in these. These bigger social issues. But I I. I don't know what I would do. I don't know if it's a fail but it's certainly a God another big giant issue for For Apple and others and facebook and other so I would say that was my fail you saw so they. If if apple's identified Senator John Kennedy to the Senate now is being a useful at idiot in an agent of the KGB that would be disappointing but accurate And the way I see this is that that was a bit of a dig in a joke the way I would see. Just in case anyone answering agenda Senator Kennedy is has now decided to basically propagate ally that has been fueled by the Russian government that the Ukrainians meddle in our Election sets out to inflate it and somehow create this false comparison between Ukrainian rushing and interference to to lessen the pressure on on the president's criminality agreed agreed. Agreed but I but speaking of Senator Kennedy that guy that guy is a Russian plant or an asset. I don't know what he is or useful idiot. He's he's not an idiot by the way I've heard from lots of people. He's quite clever. I more fail in. That regard is is is It's meet the press for letting him bringing him on the show when they and not not being prepared for that lie to cut him off. That was the worst. Everyone's like. Oh try chuck. Chuck did go after him. I thought no because he's it done it before you do. Not let him repeat lies over and over again and it doesn't matter how much you challenge them you just don't you cut off the mic in that case I cut him off a A. US Senator. I WANNA see your come on interviews for dummies. Did you see sixty minutes. Last night was ted. It was very nice to Susan. She job she did her job. She did her job is sixty minutes was literally so I'm of course. I said they throughout that she had the garage and she has five kids. They just GONNA ask. I thought at some point Leslie Stahl was going to say. Can you show me how to use this microwave to heat up my I sup- literally like wasn't okay. You Know Susan Job. Susan did our job. That's all played sixty minutes ten. The Nation as it's got played by the eleven hundred person corporate communications department in a very likable Susan Justice. And she didn't falter for. We're doing two doing that interview. I think she did fail. Tessie your quick because we gotta get to predictions and get out of here. I know you're going to get a pedicure with Nancy Pelosi or something So my fear is Is In there was a great article in the New York Times about this. But I think we're studying to the wrong tests. I think we're talking about the wrong numbers. The Dow how unemployment and and the New York Times had this incredible article called deaths of despair. And this plays into my favorite thing. Macabre tarbuck respect for the first time in our history. Our life expectancy is down three years. No one ever talks about that. Our life expectancy is now kind of rivals Cuba. And that's not. That's not not a good thing and people people blame or immediately. Think well people are dying sooner and it's not that people are living longer. It's there's more deaths unnatural deaths between the ages of twenty five and sixty than ever before they're largely alcohol opioids and also suicide which is which has skyrocketed. I and I wonder how much of it is. We're going to find is a combination of income inequality incredible frustration anxiety because of For the first time in our nation's history thirty year old is not doing as well as his parents. And what I've discovered 'cause I coach a lot of young men is that it's hard on the parents as it is on the kids when the kids aren't doing well and I think the shame shame people are feeling the embarrassment and also not only income inequality ability. But this kind of this gestalt we have in our society now where everyone's convinced that because we're talk or see because you're constantly having success thrown in your face that if you aren't successful if you aren't part of Google instagram economy. It's your fault you fucked up so I think there's so much shame there's so much frustration. There's so much inequality leads to that leads to these depths of despair and the question I would ask at the next presidential debate is what are you going to do. ooh Stop to reverse. The life expectancy to climb. There's was the point of all of this town. Hope we don't anyway. So my my losses again. I think we continue to study the wrong test. I think these depths of despair and the amount of anxiety in pain at from loneliness from shame from economic anxiety is is such a such a failure of our society. It means that we as a society means whatever this is. This experiment is no longer working as well as it used to user. We should use US aware of them. A friend of mine was an artist and she did. She put a heat Camera on the Golden Gate Bridge to show how many more suicides or happening than people thought there at the Golden Gate Bridge was an art installation and she thought we should have a national suicide number so that people rather than You know any of the other numbers we use to decide. What successes assesses? I thought that was a really interesting. It was many many years ago it was interesting but I think you're a hundred percent right. I'm going to have to cut you off unfortunately and make you feel despairing but What is your prediction? You're very quick. Prediction may be spending this time of year to make us feel better about our despairing. Lives where what is your prediction. This week Scott Galloway Elway. Twitter goes below twenty five bucks a share an active steps in. Okay all right. What activism don't have dual stock as I wrote about? That's right so that is that is a ripe that they they've been around the basket before I've I've heard from lots of these people A couple of media platform platform. That's trading at a old media like multiple. You've got to see who's the CEO of another company is deciding to go hang out in Africa for three months and you have a platform from that has become a national iconic means of communication governing. Because we have a very strange president this is just incredibly ripe for an active assist. Twenty twenty twenty. Look for Dan low but Janet partners look for an activist low but various twitter interesting interesting all right Scott. That's a really good prediction. Only you veer from being crazy being so wise. It's really you're like the wise men you know what I mean like signed China but in any case It's time for us to go. We'll be back later this week to talk more about this for another episode also tweeted us at Hashtag pivot. podcast an the email said pivot at vox media DOT COM Scott. This has been an exciting two times a week. Daddy needs a new parents. Come on twice so week the credits get US Outta here. Scott credits in front of me. I was produced by Rebecca Synon- as Eric Anderson's pivots executive producer thanks to Rebecca Castro Andrew Burrows. Make sure subscribe to the show on Apple. podcast if you like our show please recommended to a friend. Thanks for listening the pivot from Vox media. We'll be back this week for another breakdown of all things tech and business.

twitter Amazon Scott Galloway Fedex Africa CEO Apple comcast US Fred Smith Google VOX media president Jack Dorsey cocaine Disney Mayor Bloomberg Michael Smerconish Russia
Uber's IPO and, more importantly, Game of Thrones

Pivot with Kara Swisher and Scott Galloway

40:54 min | 2 years ago

Uber's IPO and, more importantly, Game of Thrones

"This episode was brought to you by China. Whether you're company employs ten people are over five hundred year. People are your company trying gets it. They have a full range of HR solutions for companies of all sizes and they tailor their services specifically to your industry. See how China can help with your company's benefits compliance payroll and more at TriNet dot com. That's T R I NET dot com. Try net. Incredible starts here. Hi, everyone this pivot from the box media podcast network. I'm Karen Fisher back in San Francisco. And this is Scott Galloway. I'm in my kitchen in San Francisco. So here we are. Nice. Nice. All right. What are we talking about this week? There's so much so much. There's so much. I'm here to see a lot of moguls this week. I'm visiting on my mogul fest this week. So I have lots to I'll have a lot more next week when I'm done talking to all of them talking to pretty much all of them, but big stories this week. I think I talked this morning to the BBC about the Disney about net flicks results, which were were better than Wall Street expected, but a lot of worries and their stock went down because of number of things including possibly slowing subscribers there the competition from Disney which is selling a new service that is pretty much half price of the of the best the most popular Netflix offering and then, you know, movement by apple in the space. So just thoughts on this on the Disney streaming service show, the this is really. First off their stocks, very Balto because monopolies hate it. When there might be another player, and Netflix Netflix. It's kind of becoming the first company other than Amazon was achieving sort of this monopoly like status where they had access to such incredibly cheap capital where they were able basically to cross the competition because the marketplace seemed to have stopped evaluating them on the traditional metrics. They apply to any other media firm. They were now value them solely on subscriber growth. And now that they have a viable competitor. Everyone's sort of freaking out about whether or not, you know, what it means for Netflix. Everyone's trying trying to figure it out the Disney Disney Disney, plus Hulu, and what's what they're doing. Oh ESPN. Plus is really fascinating. And it's it's taken a long time. It's taking it's like years. The athletes has been catching the money and put sending it to Hollywood billions and billions in content deals that they've been doing with big names like they've been snatchings John rhymes, the Ryan Murphy all kinds of people because they have to. And I think Bob is one of the few people that can do this and Disney's one of the few companies that has a capital on the content library to be viable competitor net flicks. But what they really had to do which is difficult to start pulling stuff from Netflix, which in the short term will hit their revenues. And unfortunately, the majority of companies have investors that get used to the sink called prophets and damage you or hit you pretty hard when your profits. Go down, which they likely will for Disney in the short run as it starts to pull pull it's content from folks who are paying them, including including Netflix, the interesting thing here. One of the interesting things here is that what I think they should have done. What I think they should have done is offered one grand bargain package, and I'll come you know, I'm gonna come back to that. Because I have a bit of a bit of a row. On it. But what power people responding? What's the kind of the word on the street in terms of a couple of things one that has taken so long for these guys? I mean, Netflix has been doing this. Remember when Jeff buke is called them. I think Lytham. Yeah. Right. They they made fun of them. And then they started really spending money and pulling and talent both them and Amazon, but Netflix to a greater degree. They have so many offerings to they they they did so many shows and just recently the bloom has been a little off the rose when they started cancelling things like one day at a time, which was super popular they were being much more inclusive much more diverse. So Hollywood was love the money and everything else, including Disney who was getting money from fees from getting these shows on on the air, the thought the original shows, but his Netflix started you original shows, I think everyone was like, wow. Look at them. They're not just like a data services central though, they have plenty of data. So everyone was sort of in love with this idea. And I thought it was super interesting, and they were too expensive to buy like there to now to you know, y'all who was looking at them at one point certainly Amazon would have there's all kinds of companies could have looked at them. And so, you know, people are sort of like is this going to be it finally, the Disney apple, and others awaken. Or will it be the same thing? We're Disney's tried things like. Coming into the internet and pretty much failed many years ago at a search kind of way they were trying to do a yellow version of Yahoo. And then, you know, apple is not known for content. It's known for devices, and it tried a few shows out that didn't work. But now, the, you know, they're grabbing Oprah and Steven Spielberg and again, not a young demo, and Reese Witherspoon and some others. So, you know, it's they're they're actually making some moves that are significant I guess people are nervous for for Netflix. It's it's it's gonna be it's gonna be fascinating. The the thing that. What I find most interesting about this is the pricing in that is. And this is where I think they messed up and that is rather than sort of grand bargain, big singular offering similar to what Netflix does. They've they've attempted to segment the marketplace. And that is is it. Okay. There's sports people ESPN. Plus, there's a dull that's going to be adult content. That's going to be Hulu. And then, you know, we watch future. Societies are just open societies do terrible things to the Gilmore girl. And then there's and then there's a Disney, plus which is going to be kind of there's great family offering. And if you look at sort of I think Disney is one of the last of the Mohicans, and that is a practices traditional brand management. And then it says, okay, where are different pockets, we can segment with the more specific offering and and take advantage of any excess income or pricing power there rather than one just big singular offering, and I think what you've seen you saw from nineteen Forty-five to nineteen ninety five and the introduction. Google. Google is that the company is that added the most shareholder value where these multibrand rand conglomerates are referred to brand strategy is a house of brands so PNG Unilever General Motors with Buick Pontiac Cadillac for the for your boss, right? And they segmented different marketplaces, and they they just printed money. And I would argue over the last twenty years that the majority of the companies that have added extraordinary shareholder value aren't houses, a brand, but branded houses because consuming say that again, slowly sherve, so the companies now that have added the most shareholder value of the last twenty years have not been houses of brands, but branded houses so Google, right? And apple where they basically put everything under kind of one brand. I they've said consumers are busy. We're going to be the brand. That means something amazing innovation and search or innovation and tech hardware and everything's gonna come under one umbrella, and we might give up some revenue, maybe we could charge a little bit more for this. Maybe we would be more appealing with a sub ran. But. We're going to practice safe sex, and we're not going to propagate all these new brands, which ultimately ends up like General Motors. They have to kill Pontiac and Hummer because brands are just so expensive to kind of care maintain for. And I think this is where Disney may have messed up, and I do think it's going to be hugely successful. But I thought the gangster moved here for Iger would have been have won incredible offering just call it Disney flick. All of it sports kids adult programming. Oh. And by the way, he flicks with an x just to be an asshole that kind of thing like that. Yeah. And then actually that's not very Disney disneyesque, and then even stuff like, okay? There is the majority of America that goes to Disney parks, ba- Disney. Prime members get to go on their own days where it's less crowded. The best cabins on Disney cruises. They could've done. So many interesting things in basically made it such that no household in America couldn't pay the twenty nine thirty nine forty nine dollars a month. If they have kids, I think that was the way to go. But instead they said, okay, let's try and figure out the new onslaughts manage a series of brands and what they fail to realize is that the primary vehicle for creating that nuance and that differentiation between Pontiac between Buick between tied between gain detergent was this was this incredibly powerful vehicle and cost effective vehicle called broadcast television or ad-supported television. But the. The problem is nobody has any disposable income. Now is watching ad-supported media because they're all watching Netflix or they're basically listening to podcast like ours or they're fast forwarding through stuff. And I think Disney has kinda missed or or a missed the boat here. I think the opportunity was for a much bigger offering and the reverting to this reflex muscle memory of traditional brand management. Not recognizing world's change. I that's interesting. Interesting has Bob listen to you on any of these things that wasn't much of Iran, usually your skin on Bob. I I think that guy's incredible. And I think is is wife will obey stern grad, by the way. It's an incredibly impressive person there. I think this guy I'm really pulling for I think, by the way, I think I think it's going to be an incredible offering. But think about what they could do at this. And you wanna talk about prices -scriminate, and how much would I mean, the reality is the sad reality is where you wanna go and business as you want to go to the top ten or even the top one percent. Because those are the folks that are aggregating all the all the -cremento disposable income. Right. What would? What do you think the million wealthiest households in America would pay for the next episode of Star Wars seven days early in their house streamed into their house we've talked about that before? That's I talked about that years ago. The idea they've never done it. They, you know, they got all kinds of issues. But it's it's coming though, because it's coming because it used to be the theater released was the primary source of income this year net flicks will do more revenue than the entire. I would like to get endgame right now. Right now, I want endgame right now. I watched the invented stones the other night. And then I was like I'd like him game. Now, I'm ready for it. I understand everything I followed along. And I it's in my head for the moment. I would have immediate like to pay, and I would have paid fifty bucks for my to watch with me. Just the one movie. What's interesting is that they, you know, Disney did lose, you know, shonda rhimes that was that was a big star for them. Right. And she went over to net flicks. So that must've wonder why they didn't try to keep her with this kind of it's gonna be it's gonna be fascinating. But Disney dizzy is really. It's so nice to see them do this. Because. Very people don't earn a position to take on that flex. And I think this is going to result in more revenue being pushed into some of the great jobs at the entertainment industry supports. I just think it's competition. It's going to be great. It's good for the content creators. It's definitely it's going to be money everywhere. Like all this money from Netflix, apple Amazon, you know, we should we should make a movie, I think at this point. So that we can get some money and put it just like have a bidding war go on between all of them when I'm in. But I thought we were Cagney and Lacey. I thought we were well, yeah, that's true. We could do that a new version crime drama internet mysteries internet thing. Thing there's not that many like what the hell's going on with Jack Dorsey, for example, he appeared yesterday at a Ted conference, which was not not the most difficult interview for him as you might imagine. But but he was there. I didn't know about that. Ted. Yeah. I know Ted the Ted audit. And what did he have to say anything? Interesting absolutely nothing. Like, I don't know that he was going to be focused on topics of interest versus people. I think that was the takeaway. I mean, it was very it was it was quite a bit of a tongue bath for him. But it was mostly the topics. He's gonna focus. That's how he's going to fix the situation. I'm like Donald Trump owns Twitter now, my friend, so and you made it so how do you feel about that? That would be my first question. And then I'd be like what's going on with the hat. But I would ask that. See people being interviewed. Do you like want to rush the stage and say, I would do such a job interviewing this supposed? Oh my God. This is what I almost all the other day. I was interview what I literally was almost I must stood up and yelled asked the fucking question. Like as like, it was like one of those roundup and questions. I was like den the buck question what's going on? Like I Jack Dorsey in the train. He's never going to do with me because he only is going to meet me onto crazy Twitter is like what is going on. Like that would be like what is going on all the people the world wanna know, what the hell is going on like with you know, any. Thank you. Yes. They do. I get very frustrated because I think reporters tend to like come things backwards. They don't wanna be rude when they're physically in the same space as someone and so they tend to bother you people. Yes. Some people say it bothers me like literally want to jump up, and I tend to jump up and ask a question. And then they always go up when they see me at the at the microphone. Stay that way. Don't you be you? Doco to you. We'll be listen Uber IPO I'm going to see Dr this coaster shot. He he's the CEO and I'm seeing the lift guys too. But so what do you think of this the filings verse? I mean, the two words you're hearing more. You're hearing the same words over and over an RV lift excuse me in every planning meeting at Uber. And those two words are fucking lift. I mean, literally, it's like imagine, you know, the opening ceremonies of every Olympics. I don't know when in ninety two when Muhammad Ali with Parkinson's and full bloom got up there and let the lit the the Olympic flame one of the great moments in sport history guy had had his medal stripped from him for refusing to to register for the draft when you had in Barcelona that that incredible Archer, basically, they take the camera outside the stadium. And they're like, where's the camera going and all of a sudden they zoom in on this incredibly ribbed core. Spaniard, and they picks up a bow and arrow, and you're like what the fuck is going to do it that and then he reaches into the sky pulls the Bobak, and boom shoots this this inflamed. Ero into the circle, and they light the flame, and it just sort of sets the tone for the entire Olympics. Well, the lift IPO is basically George Costanza like throwing up for the opening ceremonies. Tell them that it is literally it's contaminated the entire the all the unicorn the unicorn classier, they then then as they should have gotten together and said, whatever we do we can't lift cO. Let lift go out. I. Well, they had to go out. I though you think otherwise it gets wash take. Yeah. Let's re let's revisit our prediction. Our prediction one hundred bucks opening day. We didn't get got to ninety bucks. And we said, it would be fifty bucks within six months, and what's close today's in the high fifties, or what's it anyways? But back to the Uber IPO. Okay. So let me check my you have one of those. Hey, wait. Hold on. Let me let me let me check my Motorola. So the Uber lift is new Uber is a much different company than lifts. So you have fifty eight fifty eight and by the way that will be it's new all-time low and looking for that'll be it's all time high. It'll never see that number again look out below lowest fifty five right? Yeah. That'll that'll seem like the salad days in about thirty sixty one hundred and eighty days anyways. The by the way, I just got all these analysts now it's had its low. Now, it's at its lows was at the highest was always analyst going saying, they don't understand the unicorn class, and he just terms like disruption. No one wants to talk about their numbers because the stocks going to thirty about the time outs. Out the motorin who was the God evaluation actually says, okay? This is this company is not worth thirty bucks. Much less twenty bucks. Anyways. Let's I want Uber. My friend eleven billion eleven billion dollars two billion in losses. This is a difficult business, right? Hailing is a is a really shitty business. But has Uber has some real assets. Right. They might have this all kind of elusive so far flywheel effect and ride hailing and that as they have so much trust. It's such an incredible brand. They do such an incredible job that they're able to launch Jason businesses and Uber eats looks like it might be a really great business. Right. Yeah. Because the others grub up and the others are like shaking and their door dash on their probably done. I just ubereats. I I'm just hearing it everywhere. And it seems like they do a great job. It's growing really fast. They're talking about getting logistics, which would be interesting they all threaten around the economics that what happens when a Thomas comes. I think that's like Jeff Bezos talking about drones. I think it's a giant head fake. I don't think it ever really. I so it's free to deliver. That's the Bs x right? So right now, Raymond James just estimated the total takeout market in the US is from the Wall Street Journal reach two hundred and sixty nine billion this year with online penetration rates rising from under seven percent this year thirty percent now I've talked to a lot of restaurant owners Myra went to pick up take out the other day, which apparently is like, you know, showing up with like a porn buggy restaurants. But he was like, it's all ubereats and door. Dash dash. They was definitely talking about door to she likes them better. But but they the he definitely was like, look it's even eating out or eating the business the inside the restaurant business too. Which is essentially taken what's happened in New York, which was all delivery to Ederer to everywhere. Yeah. Yeah. It was interesting. It was interesting discussion as I waited from an pizza to beat made. Offer DARA one hundred million dollars if he can maintain evaluation one hundred twenty billion dollars for ninety days. And I would argue if you can do that he deserves a billion dollars. What's he gonna do? Well, that's the thing. These guys have to convince investors enter into consensual hallucination with them that Uber is worth more than get this at under twenty billion dollars. Delta American Airlines Ford. More Motors, mats, and shipping, and let's throw in jet blue. And we still don't have the value of what they've asked Dr to convince the marketplace. Uber's were so lift shitty business Uber. These current valuations that they're discussing is an overvalued business. But it's still a juggernaut. I mean. Eleven billion in revenue eleven billion in revenue, but and I hate to fall back on this term because it say morpheus and reflects memory when people are trying to find reasons to justify irrational valuation. But the Uber brand is probably one of the most important brands in the global wealthier affluent class globally or soaking up again all the disposable income because it's probably the first and the last brand you interact with when you're on the road. So it's literally the first and last company, I interact with when I'm in any foreign city, and they do a great job. So the opportunities for them to get into Jason businesses. The fact that they're going to have all this data on the global wealthy about commerce about your traffic start serving you ads. Hey, you're you're early at the airport. Here's a ten dollar certificate or something at the you know, the duty free here at Heathrow. They're just going to there's a lot of places that Uber could go, and the fact that they've been able to execute against that with Uber eats shows. This is a management team to knows how to take advantage of this. Of this shitty. But enormous business it's established unbelievable consumer trust unbelievable brand equity. Well, there's there's issues around come on. I mean, you're being a big lake pretending things don't exist. They've got issues around drivers, I get dozens and dozens of driver stepping talk to them a lot. It's just where it's on the backs of other people's work essentially with and then meanwhile, not just them, but like Google here which owned by percent of Uber for a long been invested for a long time, which I think they must have like two hundred and fifty million and sat quietly. Well, the crap was going down with what's going down. They're gonna make billion dollars. Let's go. They're going to make. Google itself is going to do really well in this thing. It's all the same people that on. Yes. Well, yeah. But even Google, particularly which is really interesting, and and they also get a lot of money from maps and things like that and pay Google pay and stuff like that. So you know, it is it's an interesting situation. Who's going to benefit here? But it's definitely not the drivers. I mean, let's be honest. They're just they're just getting screwed essentially. And in this case, the investors will especially taking this big flyer. You're talking about making everyone just believe, you know, Dr will be paid a lot money for this. If he gets them to believe and does jazz hands. That's what they that's what they should call this entire unicorn class IPO strategy, jazz hands. That's awesome. Jazz and jazz that Bob Fosse movie, I'm going to go see. All right. We're gonna take a quick break when we get back. We're going do wins and sales and predictions with gut Galloway on hippie. You've probably heard about the crazy perk. Some companies are offering employees here in the valley. I've seen everything dry-cleaning haircuts. Compooter stands etcetera. He's perks might sound crazy or maybe not. But people matter and companies have all sides they're trying to attract and keep top talent. China gets it with their full range of HR solutions. You can give people access to the premium benefits, they deserve even health insurance. Because employees aren't just people who go to work. They're juggling families friends pets and so much more by delivering on the needs of your hardworking people trying to empower them to do incredible things for your company. See how you can help them with benefits compliance payroll and more at TriNet dot com. Try net dot com. T R. I N E T dot com. China incredible starts here. All right back to our show. I'm here with Scott Galloway. He is in New York. I am in San Francisco. We were talking about jazz Hans, which is by the way, I wanna see that that Bob Fosse movie that they made. Apparently, he wasn't a very nice, man. You see all that jazz with shorter. Yes. But this is a new one with Sam Rockwell, and what's her name the actor? She's great and show. Jessica lime that role in the eighties. I love Jessica Wang. Oh my gosh. Yeah. Great actress, do you watch her and all those Ryan Murphy things, by the way, he's working for Netflix. Now. Do you watch? Do you watch the or whatever I don't I'm all about I'm I'm basically watching. I'm watching one thing. I'm not interested in my kids. I'm not interested in work. I am interested in the king of the north. And winter has come Keira dad said I'm literally like, I did I was part of an intervention on a guy who was addicted to heroin, and he basically listen to everybody and said, I love everyone here. I have a great life. I choose heroin and he walked out of the room. Will you know what I choose winter? I choose I am putting everything in my life aside. I'm going to re watch every episode before I can't stop thinking about and information. Both my children are hooked on it hooked. I can't believe I watch it. I mean, I I'm kind of they're not sure you quit trivia question. The both of them are are hooked on an Elon Musk loves it. I'm just saying everybody's watching. I did not watch it. I do not care about king. Literally jealous. You have so much. Okay. So quick trivia question. Back to big tech is Jay is Jeff days. Sarah, John snow. Hold on is. He Jon snow is he Sarah say is he the night king. Or is he the prince of Dohrn, which is which is which one is Jeff Bezos, don't he prints of? He got his head crash. That's when I stopped watching that show. Let me I was like no not that was a handsome man you questions head and I was not expecting. I'm now disgusted. All right. So I would say the the the the Nike saying the not the king of the king at is very good. I said sir say, but he's the nineteen because he's coming for all the living survey. Let's say as the news. I can. Yeah. Coming for all the web. And I thought that was really clever. I like the night king. I like, I think that I understood it's amazing anyway wins and fails win win win win win Facebook nominated its first African American woman to be on board. Peggy alford. She's a big executive pay pal? And quite an impressive person. She left to do a little work at the channel Coburg. I think Dacian this is this was a great thing. Because there's only six black women who her senior manager executives in the US. We'll just one percent of that management layer. And at and Facebook employs hardly any women of color at the company is really a small amount of it's enormous US workforce. But that said, she two people left read Rita Hastings and Erskine Bowles. I think he I think aged out and and re did not I think there's you know, those are the two big critics of Mark Zuckerberg on that board. So I'm hoping. Peggy Alford, you know, puts them through his pace. But I don't know. She's so linked to them. I doubt that's going to be happening. Anybody who gets on aboard like Facebook is so grateful and sort of excited to be there. They're not gonna show up and start kicking ass and taking names. And I again, I think it's great for the reasons you mentioned that she's on the board. But I feel like it's another looseness trick is at the end of the day or some bowls in releasing. I think sort of the last vestiges of anything resembling a conscience has left the board. And so it's it's yeah. I had heard they were the ones that were really Drummond into Mark in terms of attention ause on the board. He's a very principle, you know, high character person, hopefully, he's in there. But at the end of the day, the there's only one thing the board I can do in a to clash Earl the company, and the only thing they can do is all hold hands and had all sit around the fire. Hold hands and agree and says send him a letter publicly saying you need to resign. Your o? I agree. But otherwise, they're they're not they're not aboard their an advisory board. I've served on to class, Cheryl, there Comey's we kinda show up and suggests and hope and beg that the CEO does stuff, but you don't really have any power. You don't step your feet because there you go. In one don't you stamp your feet? What do you want to be on that board? What does that twenty five thousand dollars a year? Whatever the hell the words. A couple hundred those I know that one hundred I know, I've been asked public nice, I told you the one I was at I was they called me. If I wanted to be interested was the one who owns talk. Why didn't you go on the board because I don't eat Taco Bell? My would I go to board think is awful like I'm on they wanted to digitally oriented person. I just wasting my time, and I don't want to be in on that particular board. And I just think I'd be just difficult. I'm I just recently zest ban aboard of media organization that I like a lot. So I made I made it's an advisory kind of thing. I don't mind those things I just rant. But I'm not a good. I'd be terrible point member. That'd be I would sneak around and find out what was actually going on. And then I review do a big reveal a board meeting journalist. So you say actually sorted to mind. You know? So yeah, that's probably not who you want. I'd love to be on the Facebook board. He asked me I would say, yes, I don't care about. Yes, ma'am. That's what I stole a lot of trust and security in the boardroom. Some I win marriage elitist CEO of best buy is stepping down. He took over a CO best buy in two thousand twelve and what do you think the prospects were for best buy in two thousand twelve shitty. Shitting down Chitty Abba, literally except worse than that. And and he find the song was a twenty two stock is up three hundred percent since then, and it's really a it's a great example of corporate leadership, and he invested he said, we're not gonna worry about short-term problems to make long-term investments. So the first thing he did was he said we're going to match every price and you couldn't walk into a best buy without a smartphone. Without a blue shirt running up to you and saying we'll match that price. So they immediately got rid of this whole show roaming phenomena, which was supposed to be kind of the night king retail where everyone was going into retail establishments. And. Going home and buying it on Amazon, he immediately gutted that by saying we will match any price you can pull up on your phone and speaking of blue shirts, well, everyone's investing artificial intelligence. He did the gangster movie music while everyone was eating invest in organic intelligence and chartered a career path people assistant manager and managers, and when you go into a best buy the mood. The optimism the expertise, the domain knowledge of blue shirts is really outstanding. And it gives you reason to go into stores because care of people in the longer go into stores for products, they go in for people best us they. Yes. I agree store. The other specifies wonderful. It's a really fun. It's a really fun experience. They were the first or one of the first other than Home Depot, and wal mart may be to look at their stores, not as liabilities. But as assets and created an infrastructure where they turn these five hundred fifty best buy stores. Actually, I think the wrong there's more than that. They turned all their stores into flexible warehouses, and if you live in Delray Beach order flat screen. TV from best buy you get it faster than you ordered from Amazon because they fill it fulfil it out of the Boca Raton best buy store, but this guy has really I mean, he has stared down. There's a great white shark off the shore. And he he you know, he jumped into the water and punch that shark in the nose. And in addition his. His getting sharks. What Rochon jobs under when it's usually underrated actor anyways. I get it. I get I get. That's what you're supposed to do. But you should not get you didn't stay out of the water. But there's no there's no pulse. Going back to his successor a woman named I think I'm gonna hoping around Cory Cory berry. I think her name is. And she's about to become not only one of the four percent of the Twenty-three CEO's of the S and P five hundred. There's only four percent female CEO's and the s&p five hundred she's going to be the youngest CEO in the SNP so kudos to the board. Oh, there you go. She's got to be incredibly impressive. She's the CFO there. But you know, just could us to best buy great company. Fantastic. See, oh, you know, they when we when they cut, you know, when they cut onions onions onions cry they were not afraid of Amazon, and they took them on full force, and they won youngest C O S and P five hundred now another female a lot of interesting dynamic female CEO's recently. Helena, folks that Hudson Bay not a lot of them than commerce Katrina at six fix that. There's been a lot of them. So anyways, my winner is berto Lee and best buy great company. Great CO. Great tenure well done. All right. All right. I fail fail. I'm gonna go with YouTube the burning of Notre Don, by the way, sad sad face. But the links that they put in the info about it. We're about nine eleven attacks under the Notre Dame fire videos. She more what happened. I heard about it. But I don't understand what flagged them. Oh, miss just just was first of all misinformation about Notre Dame spread very quickly on social media. But like whatever that happens every day of the week and twice on Sunday. But you know, they flagged videos they mistakenly nine eleven conspiracy. You know, whatever they said they made the their their their tool for battling misinformation Mary what they called the wrong call. And so so they linked it to to to nine eleven, and then they said in a statement, we are deeply saddened by the ongoing fire the Notre Dame cathedral, these panels are triggered algorithm. Mickley and our system sometimes make the wrong, call we were disabling these panels to livestream related to the fire got to do this on everything. Like, oh, oops like that kind of thing. So what is your question? I am asking us to learn not to not to answer. But I was in. It sounds like I was really hit. When I when I saw when I saw my Amazon show that Notre. Domas on fire. It actually emotionally kind of shook me, and I'm trying to figure out why in the and the response has been there's been this overwhelmingly positive empathetic wonderful response globally on this. And I'm trying to figure out what is it about? The Notre dumb that has Vokes so much. Nobody my understanding is nobody was hurt as that. Right. Well, when firefighter and two police officers were injured, but incredibly no one was killed look everybody either wants or did as a college student. You know, what I mean, everyone in that is that is what you you think of the Eiffel tower which is more about modern France right in the modernist glare, and you think about Notre Dame? It's right in the middle of. On the left and right Bank. Right. And so I think everyone has has either hope or dream or has a memory of going there. Right one or the other. And so, and it's you know, it's beautiful. It's lasted for so long. It just doesn't it changes. And it doesn't change the scene for so many conic photographs of Paris and stuff, I think everyone has a relationship with Paris in some way, right everybody in the world. It's like New York run has a relationship with New York City. And so, you know, there's very few iconic things in this world. I would say the Golden Gate Bridge is one, you know, not the twin towers. I felt it was terrible happen to the twin towers, but I think more the Empire State building in New York or the Christ from building in in London, probably probably parliament. I guess you know, what I mean or make bit Buckingham Palace. You know, all over the world, the Taj Mahal, the the great wall, you could you could circle the world and pick ten to twelve things everybody thinks about right? So that's to me. What's what's going on like that? You have the. Ship with these iconic. I like you more right now than I've ever liked that was gangster. That was almost poetic way. Let me hold on. The Notre Dom is all of our hopes and dreams we I I'm going to donate the first ten thousand dollars to have that inscribed somewhere on the Notre dumb. That was poetic, they're not gonna have inscriptions. They're not that the French or classy people they're not going to like here. I would say the like the arch in Saint Louis. Stadium in LA, come on good. God really have some masterpieces. Yeah. So my loser. So look, I think the unicorn class God, I sounds as the mind to sucks compared to yours the unicorn class. I think is the big loser. This year for all the excitement and all the analysts will come on and talk about disruption and use word like network affects. I think that in this is a prediction, I think when we look at two thousand nineteen in retrospect, all of the unicorns that have gone public. We'll have lost more market cap than they've gained. I think that they're I p o prices combine their their market cap combined. We'll be greater on the day of their IPO's. And we'll be twelve months on. I think the unicorn class is going to lose in nineteen. That's a good one. That's a great one. Never mind. I'm us more. A more fus words. No, I love that. Yep. Yep. Yep. So so so talk to me about your prediction. It indicates a larger issue here. And that is and hopefully Representative Naylor's comments are adding to the strip trip that starts to become something real. But I think we have a small group of companies that are basically cut off the oxygen from almost everyone else and even unicorns are having a tough time getting out. You know, what I mean, you realize Amazon or Facebook announced but on any sort of press release talking about using the word pincer boards. They could basically they could basically screw the interest IPO. Yes. Of course. Yeah. Yep. Yeah. But you know, try different things and hasn't been success. Just because they try lots of companies say that things I don't know are like the Amazon canal reform Jedi mind tricks and just basically start killing a company by just thinking elevate and putting out press releases. They could absolutely they could they could take more likely Facebook Facebook announced it initiative with Instagram that involves some sort of Panzer or boards. I don't think interest gets out. They have had a record of failure. When they do that just say they've had like they've tried to do all copycats a lot of things the only one that worked was Instagram. And that's because Kevin system in my estimation. It's going to be interesting and interesting person. And we'll see we'll see where it goes. We'll see what goes. So my prediction is that code is going to be amazing. That's my prediction. I just we just announced Stacey Abrams is coming to talk about fair price. I know. Thank I got. I got a big one. I can't say right now. But I got one that you're gonna love you're going to be so excited to be there for this music Herrington coming. That's the only person. I know why wouldn't I like hug him? Like, why would I have a face off think of someone face off with like there's a lot? But you know, it's going to be good. It's going to be a Manno Amano interesting. You should interview him because he's like four foot ten his tiny. He was admitted us on Saturday Night Live, and I'm like, oh my God. He looks like my paper. Boy, the guy is. So he's not the king of the north. He's tiny. He's. I did an event I did a very close to Richard player. And so whenever they had premiers we used to do premieres here in Silicon Valley and the geeks loved, and as I told you they came dressed up they'd bring the the the iron throne, which I I'm certain has made a plastic, and they it was some knives. Taped on it, and people would sit and take pictures, but one year we did it and they brought in George r Martin. And then the two creators of the show, I forgot their names. And I didn't estate sage interview with them, which was great. And they also brought all the cast members. He was one of them. They drown us. God by my say denarius, right? They they brought her they brought I don't know. They were all looking good. They're all good looking people, but they sat there, and they came to the thing. And it was a very exciting thing. But he wasn't that small. He was like small the way actors or small of just brands are. You've been cruising is five nine are the stars. Tom Selleck was never movie star because we stood tall. But anyways, little big prediction. I can't resist. And this isn't Borton is important. And I say this light, it has impact on society. And it's a controversial statement, the Jamie land in the Lancaster is going to kill you heard it here Keira I choose heroin. I choose heroin. I am doing nothing but game of thrones for the next literally light weeks. Do not call me. Do not bother me winter. It's coming. Terrance coming. Oh my God. Oh can show. My you'll be onto the next door. Oh my God. Well, it's it's ending. Let me give you some information. Just like all things in life. It's ending that will be that. And then you can watch endless reruns of it. And then be like, why did I ever watch using? Water marijuana and game of thrones. Let me check out. I am ready to go. Take me. God, I'm waiting. Okay. Thank you. All right. Thank he's got his time to go. What else are you doing this week? What are you doing this week? We're excited doing a lot. And we're going to do much New York stuff. We're going to go. See the new. What's it called the octagon or hexagon over in Hudson yards? Hell Hudson yards. Yeah. And I wanna we'll probably going to play and be tourist towns. I think Hudson yards is I don't quite understand Hudson yards. I think it just so far out there. I love it. I look it took vision. I really like, Dan Doctoroff and all the people that made that happen. I think it's an inspiration. But I just whenever I go over there. I think okay, how how do I get out of here? I find it difficult to get outta that's nuance. Anyway, thank you so much. Thank you, go now, Rebecca's donnas produces a show. Nishad Kirwa is the executive producer. Thanks, also, Eric Johnson. Thanks for listening to pivot from boss media. We'll be back next week with more of a breakdown of all things tech and business. If you like what you heard please subscribe rate and rebuke pivot on apple podcasts. We wanna thank our sponsor for today's episode China. So you've heard throughout the show all about how China is a full-service HR company for businesses of all sizes. Well, that includes small to medium size businesses because these companies create well over half of all new jobs in the private sector trying to take care of their critical, HR knees. So they can focus on their growing business. Learn more about their full range of HR solutions at TriNet dot com. That's TRI NET dot com. Try net. Incredible starts here.

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Facebook's New Money and Slack's New Valuation

Pivot with Kara Swisher and Scott Galloway

36:23 min | 1 year ago

Facebook's New Money and Slack's New Valuation

"Today's show is brought to you by Challe now you love ordering takeout from your favorite local spot. But did you know third party delivery apps? Could be hurting their bottom line Chown out. Love your local restaurants as much as you do. That's why they're online ordering system is dedicated to putting money backward belongs in restaurants hands. If you're passionate about food in your community, or if you're a restaurant, that creates food, you truly believe in check out. Check out dot com slash pivot Chow local flavor rules. Capital knows life doesn't alert you about your credit card. That's why they created Iino the Capital One assistant that catches things that might look wrong with your credit card like over tipping, duplicate charges, or potential fraud than sends an alert to your phone and helps you fix it. It's another way capital. One is watching out for your money when you're not Capital One. What's in your wallet? See Capital, One dot com for details. Hi everyone. This is pivot from the box media podcast network. Uncared Swisher in New York. And I'm Scott Galloway and gun. You have to set sake. God, you're in incon-, John, where are you Kansas calms Karen in France? Right. You're in France as it goes, what are you doing there? Why are you there? I'm mostly sort of like an accoutrements the next people feel like they have some sort of fo- PBS at their events. They invite there's, like two academics. And olive can it's me and Adam grant, who is my nemesis, who I will. Nice. He's such a nice, a wonderful guy and Harry's got on him. That's release head of hair. He's got. Oh, that hurts. Imagine me, but better in every dimension, he is this guy, he gets invited to everything and I'm like are lower to. But anyways, I'm the second fan bite. And they all invite me to their events to, I don't know, feel like they're more or something. And it's like subscribing to the economist. I think they think it's a good idea. And then the ship. Actually shows up every week, I show up. And by the way, all these things are named if you end up sitting next to me, it means they think you're really interesting and boring, because they stick me, next you and they come up and say the same thing like you too will have so much to talk about. And I'm like you got an advertising conference. Right. Is that correct? 'cause I blow onto it. I, I am not there on purpose. I was invited, but I disclaim fun called the what advertising sucks least conference should really talk about it. And let's celebrate the technologically illiterate, and the poor who are stuck still watching advertising because anyone with any options gets to opt out, but they don't realize when I come to these events Keira that I drink. And when I drink, I dance and it's really awkward. So imagine imagine a fifty four year old white male heterosexual. Dancing is definitely a triumph over. It's a triumph of joy over any self awareness. You can I can tell they're all looking at hinder going. Where's care what? And we. Why didn't we invite the invite the other one that doesn't drink? And I'm having a wonderful day. There's a lot of Rosa going on there. Right. A lot of a lot of rows. I years ago when I went all the big tech. The reason I did is space book at a big thing on the sand right there. A Twitter did Snapchat has essentially it actually always has a really cool thing. They had an art installation by Alex Israel this year. They always have something really neat. And it was much more internet heavy before. Was it this time? Oh, yeah. They're beaches. Keep getting bigger. I went to an event hosted by a Joanna Coles who's lovely and Evanston, Hugo and yeah, he looks for team. I mean the literally, you looks like my paper way that guy's really young looking. He is not that or bad. But s- so snap. And Twitter I feel like kind of the comeback kids right now. I got that wrong, I thought they were history. But there seems to be a mood of I want to call a cautious optimism that everyone's sort of happy that the immunities are kicking in, I think deep down even the other tech players, including countries or sort of happy that Facebook, and Google are getting, I don't want to say they're come up, and but there seems to be some immunities kicking in. So I feel like there's some. Balance here for the first time in a while. And you know it all. Until The Empire Strikes back. Anyway, let's talk about speaking of the empire striking back. Libra libra. Are you putting everything all in on libra? Explain Lieber for the people who don't understand libra, so libra Facebook's new currency or crypto currency. And from a branding standpoint, it's genius. So at a at an event like, like gone, you have a tendency to conflict, great marketing, and great strategy with good, businesses and good people. We assume that great marketing connotes a great strategy because on the face of it from a branding perspective, libra is, is brilliant. I mean even even the name libra as, as a measurement of weight from the Romans, it's where the British hound derives the symbol of their currency. It's just such a gorgeous at such gorgeous, branding. And they literally sat down and said, okay, let's start with the assumption that nobody trusts us. How would we do this? We'll currency explain what it is a coin Facebook, coin, essentially. Transacted it's, but it's strange in the sense that it's not crypto, because they're talking about creating identity and regulatory bodies going through the traditional players, such that the regulatory agencies are more comfortable with it because a lot of government agencies aren't comfortable with the fact of anonymity, such that money laundering, or funneling yet output. All to from bad actors to other bad actors is something that's very dangerous. So, right. Facebook in there is tried to do everything, right. They're like, okay, nobody trusts us. Let's keep, let's, let's assemble a supervisory board. That's a nonprofit. We've told people we're not gonna use it for a targeting people. It's, it's run by other large trusted agencies. This supervisory body that includes visa MasterCard, a bunch of other people, and a kind of all makes sense in the notion that they would be able to have some sort of coined that attacks, the five hundred billion, that's half a trillion dollar admittance industry, where basically people are sending money to. Families charges on average a seven percent fee for you to send your money home to your relatives. I mean, this is an industry waiting to be disrupted. It makes all kinds of sense being able to tap on that cool item that cool, scooter on Instagram and immediately have it sent to you to be able to transfer money as Li. I mean, if you tried to send a wire to Europe, it's easier to get a mortgage. It's his so difficult a lot of the world does not have as easy as they do. We have lots of financial options here, including a company that, that Facebook, owns pay pal and van MO, and we have credit cards, and we have cash and we have Bank, and we've checks and everything else. But most of the world doesn't operate, especially when you're working on a global basis to be able to buy things easily on Facebook. They've tried for years to make it easy. It hasn't been easy. Sending money back and forth, the unbagged, if you will, as a huge opportunity and a huge need globally. This thing makes all the sense in the world. The only there's only one problem. What's the one problem? Let me guess it's the same problem as the portal, it's from Facebook and nobody trusts Facebook, and if it, it doesn't take very much imagination to go to the scariest parts of history where the three pillars of tyranny or a takeover of a society, are first, you get control of the media, then you get control of the money or the economy and then that leads to control of the military. Those are the three pillars of a takeover of society, and Margaret, Atwood really, in a genius way, kind of said that the fastest way to stop in society wanted to kind of go after the power of women was just shut off their credit cards. Right. So when we look at okay, how they handled the first leg of the stool media people like the not so great. Do we really want to give them access to the second leg of the stool, and potentially make? This coin that default currency if fifty percent of Facebook users, all of a sudden started using this coin, then you potentially have a new reserve currency globally, and it's not even that people think that folks had Facebook are evil which they may or may not be. But they haven't shown an ability to think, through unintended consequences, nor protect bad actors from weaponising their platform. If you were to weaponize, a global currency and start monkeying with it. You could have what, what capitalist fear more than war, and that is recession or some sort of global economic meltdown. All of a sudden all ATM's, stop working, and there's run on banks, etc. So you are today and yesterday you saw a lot of people in Washington say, not so fast and France, the front its finance minister, a lot of people were saying, I thought they get these book is saying, they've talked all these people. So this is just, you know, they're just being public about it, even though behind the scenes, they knew everything, you know they did. They have the Switzer. Ireland thing the independent body, the idea that there's more partners. They're trying to sort of put all the like safeguards and guardrails in place, or, or perceived guardrails. And so why do you think everyone all of a sudden was like slowdown? In fact, I'm just looking at a at a tweet a fool me once. Shame on you fool me, teen times was a serial empty apologies. Shame on us. The hubris of Facebook to even pitch this and it's, it's a piece he books Lieber must be stopped. Why do you think this reaction was what do you think it'll matter, well, because if you ask Michael Jackson to babysit anything that bad happens is your fault. So, okay. So the side deciding deciding to let Facebook babysit the economy, anything bad happens. It's our fault. Yeah. So it's a great idea. But perhaps it should be another entity that has. Amazon, who would be. Care. That's the gangster move. Amazon comes up with a coin 'cause they're already in transactions the thing is they don't have the global the global reach in crypt it back bound, but this is I mean you got it. Mar Facebook is set to use the word gangster in my New York Times column in case you're interested on this move. You gotta read it. I said gangster movie. This is the gangster movie of the people who have brought us, you know, the, the failure of democracy is not going to do this, or something like that some line like that gangs. Here's reality. Let's give him the benefit of the doubt. They want to go after the Bank, there's of course, or capitalists, they want people to spend more time on the platform, there's all sorts of opportunities around transactions, but they've really thought through how do we try to swat? Some of the concerns that are legitimate, and everyone's just kind of just regurgitating saying, no No, MR Jackson. We'd rather not hang out with our kids. We trust. You've had chemical castration and you've learned your lesson. Sorry, boss. It's you're not getting near a little Johnny and little Susie. It's just not gonna happen. What are you hearing? We'll see. I think everyone started, I'm sort of like amazed that they made the move. It whatever they're trying to show that they can still they can still be innovative. I think that's part a big part of his, we can still roll out, cool, new products that are, you know, I think that's part of it a little bit. And the other is, I think, you know, David Marcus who runs this was at pay pal knows all about this. He's, they're sort of resident expert in this area. Many wanna pit leave versus bitcoin in my mind. These two are not in the same category. Bitcoin is a deco related investment asset. Lieber is designed to be a stable medium of exchange. I have been in remain big fan of bitcoin, but for very different purposes, so that was an interesting. You know, I, I think he's the creek the co creator of libra, and he's leading Kelly bro, which is a Facebook company. That's in LeBron. And he used to run messenger pay pal and he's been in finance for a while. So interesting. But he wrote he's. It is. Yeah. Yep. And he's like, we recognize the road delivering this visual belong, argest won't be achieved nicely and take coming together and forming a real movement around this pursuit. Our hope is to create more access to better cheaper and open financial services, no matter, who you are where you live what you do. And how much you have. So he he's, it's a it's a very interesting rollout of Kelly. Bren libra. They wanted to have a dedicated regulated entity that that has privacy. There say they're not going to share the data. That's the other thing we've heard it loud and clear that you don't want social and financial data co-mingled. No. We do not said, we want. Why even think of it in the first place. Can you? It's going to be interesting to see what happens, and I think they're going to let a push back. They definitely are. And I don't think it will assuage anybody that all these things that they're doing so speaking of someone who doesn't believe them. Tim cook has commencement speech. At what did you think? Well, there's doubling down on what is probably the best communication strategy of the. Twelve months. And he's as I said, okay, we need to we need to decouple from big tech morally, and that is, we need to say, we're different and double down on this, this notion around privacy that they have actually been pretty principled about and start going after the other guys, and he's probably the CEO with the most moral authority. I would argue right now in America, maybe since endure annoy I mangle her name, but you know, saying look big tack is you can't take the credit without the responsibility. I was crate. That was a great line. He's definitely going after these guys, we saw the same thing. And he said, you build the chaos factory. I loved the chaos factory idea was fantastic again using the column in the times, you'd be able to cast back to you have to be responsible for the chaos. And I just love that he calls them. Chaos say he doesn't he doesn't make anything else. But chaos I just love that. I thought that was a killer line. But of course they what's interesting is people in Silicon Valley. Acting like Tim cook doesn't like tech, or you know, why can't you be positive about tech and he's a scold always here? He's a scold you know. So it's an interesting, I don't think so at all, I think I think not in the league saying he's an adult is, what is the only way you get to real real significant progress in areas of real trouble like this. And this is your buddy nonce quotes, an I'm gear didata said, you need class traders, and basically Tim cook has decided this is the right position to take for the world. Even if it pisses off the folks at the country club or whatever that Palo Alto breakfast places. They all hang out at he doesn't hang out. He's like working out at like four in the new my meetings. You feel me. You know what I'm saying? He just I don't think he's Marta this scene. But go ahead. He's basically said look, I'm going to go after big tech is my market. I don't sell iphones too. Big tack cell phones to the world. And the world is fed up with us. I'm going to separate from us. I am not part of us. I'm something different and it's a brilliant strategy because the other guys are all sitting there. The, the only thing is the other guys are like, you know, apple tracks you. You know, that's their big thing is apple apple is just as bad this, and that they try to fund the situation by saying he's not as good as he seems, you know that kind of. That's their answer. They're less bad. They're not. I know. But that's their answer that, that's your answer. I'm like, we're still focused on you and your shitty behavior, so it's interesting. It's an interesting reaction, you get from them, but very poll, which is always never, never the thing, the iphone post seventy to one hundred data points today, Android a free phones, pull between thousand fifteen hundred so they're bad, but they're about, you know five to six percent under their ninety four percent less bad. If you wanna talk about share data, they'll say, trust them with it. I trust I trust them with it. I don't feel like I'm gonna get on necessarily screwed by apple. Well, I don't think about that. I if the rank who you think you're screwed by, like in a coin by an apple coin hundred Amazon coin hundred Facebook. That's you had that guy, by the way, just you, you kicked off his campaign when you interviewed him on MSNBC. And when he said, I wouldn't go I wouldn't be in that position. And the other thing is the guy in the worst position in the world is the guy who was head of portal someone interviewed him it code. The guy charged with the Facebook, mortal. Product. Oh, Andrew Bosworth, Andrew budget. Okay. So Mr. Bosworth never in. The history of business has been someone had set up to fail as badly as you Mr. BAAs worth, because you have released he literally could have released a vaccine to polio, and it's gonna fail because there's no way. Here's Mark Zuckerberg. I'm gonna put tape over every camera, Mike computers, but no. Let me take my camera into your house. I mean, it's just the hypocrisy here is so thick. It's frightening again. Apples, the only one I let in. There you go. I haven't Eero and now that Amazon dot am a little weary. I have a ring. I little, we're wary. The it does make you nervous when I and my son has, as you know, is unplugged, every Google device that we have in our home, because we show Schuylkill everything. No. But he trusts apple even though the house. Yeah. Yeah. Even though his mother mother worked for Google. Yeah. He doesn't trust Google. And what about Amazon, Amazon? Absolutely not really plugs. Everything he employs everything he, maybe he could be one of those like off the grid people, but he doesn't like any of it. I think he's right. And speaking of which the FTC's investing YouTube over children's videos, and how they've been abused. Obviously, this was the shoe that was going to drop. I think it was pretty clear when they started discussing how they're handling videos involving children on the on the site. And they've been taken advantage of by pedophile. So i'm. Seems apparent you have boys two boys that are a little bit older than mine. I have eight and eleven years several years older, have you had any experience in terms of your boys and objectionable content on YouTube. They don't post a lot on YouTube, so I don't not an issue, and I don't videos. So it's that's another issue. But here's the deal, I definitely see people contacting them on some of these services in, they're always, they wish show me, they're fun. Like, who is this who just left me this text message or who left me this message on this thing, and I'm like, do not respond it. You know what I mean? There's a little bit of that. And I don't know why that happens. And I don't know if it's pedophile. I don't know anything. I don't know quite what they're doing to get them to that point. But it's happened, at least a dozen times. And so, you know, I think the kids are using these platforms, and they're acceptable. That's all and I think that they have to, you know, all these companies that they're taking so long to get to this issue. It seems like talk about low hanging fruit in terms of safety. This should be the most safe area. Yeah. But, you know, they're, they're not that interested in the safety of gays and lesbians, has the interest in the safety of women. And so even though they do say they are. And I think at their heart of hearts, they are the actions, they take sort of say they aren't or they or it's one of the many issues they've got to deal with it or they have a hard time handling. I've always really I've always loved YouTube. I personally really enjoyed it's been good for my career and last summer, we found what I'll loosely refer to as objectionable content on my eight year olds ipad on YouTube, actually it's his brother's ipad on a no for all of you out there, thinking, well, it's your fault is apparently your eight year old and an ipad. Yeah, that's, that's, that's the what aboutism, they're just so, you know, that means you don't have kids because your eleven year old has to have an ipad, because all of his classmates have it and once your eleven year old has an ipad. The eight year old has to have access to it. And I looked at how this objectionable content came up and he typed and Harry Potter nude. And you d in this really crazy upsetting content came up. And I thought if YouTube in all their genius hasn't figured out a way or Google such. They can stop really objectionable content coming up around any modification of Harry Potter, then I would argue that really is I already, and it was I thought it was very upsetting. So the idea that they're trying to separate to a new YouTube kits? I think so good idea at the other thing is I don't think we should accept that we age gate, all kinds of things. I I couldn't get into R rated movies when I was sixteen I had to wait until I was seventeen. So if movies can figure out a way to keep sixteen year olds out of objectionable content. You know, YouTube, and Google tens of billions of dollars in free cash flow and figure it out. There is age gating across all elements of our society and media, these guys should be able to figure it out. Some reason they've decided they make all sorts of excuses, and all of the excuses are Latin for we want unfettered content and unfettered business model. They should absolutely be able to age gate. It's the same thing online things. They went better. That's a really good. Way to put it. They just don't want to be responsible for monitoring anything, you know. And again, it's like I always think about it. And I think I've talked about this that it's like they allowed people to think that's the way it is. You can do anything you want, you know anywhere time. So it's like giving your children sugar sugar sugar and then saying, oh, you know what you can eat donuts and they go crazy. Like that's why they're getting all this crazy, which I think, is the problem. What do you think so to happen, the FTC? We'll maybe we'll talk about that predictions know. Don't know. All right. I'm not sure we'll see if our FTC has any juice. I think they will. I don't think they do after the break wins and fails. Let's talk about ZipRecruiter. The absolute smartest way to get hired. All you have to do is follow a few simple steps, and you'll start receiving relevant job matches ZipRecruiter app. Takes the hassle out of getting your next job. Then we all remember what a hassle job search is used to be sorting through all the different listing services and classified. And then there's a time consuming process of tracking your submissions, waiting for employers to get back to you. Ziprecruiter is the number one rated job, search apt because it does the work for you. You just download the app and tell at the types of jobs, you're interested in ZipRecruiter finds jobs you like and puts your profile in front of employers who might be looking for someone just like you if the employer likes your profile ZipRecruiter, let's you know, and you can go ahead and apply. Download the free ZipRecruiter job search app today and let the power of technology work for you. Don't wait. The sooner you download the free ZipRecruiter jobs. So Jap the sooner it can help you find a better job. This episode is also brought to you by AT and T business, the products, you use to manage your business should make you more competitive. Not slow you down. That's exactly what happens when your business technology is silo edge to edge intelligence from AT, and T business gives you the power to see every corner of your growing business so you can make your next move with near real time information on everything from inventory to cybersecurity to customer feedback. Whether you're collaborating with remote teams to introduce new products to market faster managing your fleet so you can out deliver your competition or monitoring network bandwidth to meet spikes, in the man etched etched intelligence gives you the edge over the competition. It helps you see opportunity adapt available resources and pursue the ideas that will grow your business. That's the power of edge to edge intelligence. Learn more at ATT dot com slash edge to edge. All right. Scott wins and fails wins and fails I've been doing all the talking here. Do you have any Winston fails? I think the win. No. That's okay. You do that all the time. Smart. That's called. I think I know I know I know. So I think the slack IPO I think it'll be interesting, I think I think, to great product. I wonder that, you know, looking at the finances, I'm a little worried about them losing so much money. But and I do still think they should get bought. That's always been my thought. But I think that was a great win for Stewart Butterfield. It started off as a company. I visited him in Vancouver. He had a gaming company in a blank on the name every time. And it was a gaming company that failed and they had made slack as communication system for the gaming company, and they turn that into a business. And, and it was good that there'd be season actually it was entries. And Hauritz just let them keep defy the remaining five million dollars. They had left and built slack. And now obviously everybody's getting a payoff. So I think that is a win in my opinion are so hold on Stewart Butterfield. I'm gonna go out on a limb and assumed. This is a white male Stewart. Butterfield. Family affair? Von Trapp family. What does that Stewart? Butterfield. Oh my God. I think we've met the whitest man in the world live from family affair which you're dating yourself as mister French, but go ahead. Go ahead. Guess he likes to speak at Ted anywheres card against. Okay. So my, my win is chewy chewy dot com, went public no fourteen billion dollar market cap up. I think eighty percent on the first day of trading and he connotes something really interesting. And that is, is there a strategy or that there may be a strategy for carving out space in the world. It'd be commerce's distribution platform for other companies, and specifically going after aspirational distribution. What do I mean by that? Amazon is algorithm. Distribution. Okay. All right. Okay. Well, okay. So Rolex Rolex parentheses very go Rolex won't distribute through target, and they spent a ton of money trying to figure out LVMH, and they built out seven hundred stores. Apple the gangster business strategy the last twenty years, let's invest in distribution that matches wits to the quality of our brand, and I was with ABM Beverly this morning and they asked, what would you do? If you're Abyan Bevan's, had full stop. You have amazing brands have amazing product, but where's the Sephora drinks and alcohol? All I said, and I use these exact words I said where I buy beer, I'm half expecting to get shot. These are, it's terrible distribution. It's gas stations. It's liquor stores. It feels really sketchy, where is this a four? Whereas the restoration hardware, the drinks industry so distribution matters. And because of their algorithm. Ikley driven merchandising model essentially, Amazon is terrible distribution. It's kind of low end lowest price convenience. Okay, we get it, it sort of the target and the WalMart times, ten of the internet. But in the pet food industry. I mean you and I both relate to this every year, people spend more money on their pets. It's been a category that keeps on giving. But if you look at the distribution largely by for Kate's into these large big box, Petco, and PetSmart that aren't that aspirational or two family run pet stores that smell funny. There's no there's no Williamson Nome a pet stores. And so they saw an opportunity all these high. Organic brands where they like love the lamb to death before they chop it into parts for Mufulira. Whatever all these high end. Okay, all these high end like blue buffalo exactly buffets my all these high on products need better distribution. And shui said, we're going to get a massively over invest and cut consumer service. We're going to pull a play out of Amazon the CO there is from Amazon. We're gonna lose money like a bandit, but we're going to have incredible service, but we're going to cater to high end brands. And so the learning here is that probably the best way to try and combat. Amazon carve out of space is to go after say where they aspirational pointed distribution online Solano did it in Europe, pretty successfully. But good for them to have a fourteen billion dollar market cap, and I fail to see how they're going to grow into that as the three key components CARA of, you know, the real gangster stock appreciation, I believe are one explosive growth to recurring revenue, and then three network effects, and they really only have one, although they do have a membership model. The works potentially pretty well so two of the three but. It's hard to see how they going to the market, cap it bottom line. It's great to see an ecommerce company, doing well, it's also great to see may I just say, this petScom may just ask is this petScom pre born? Oh, gosh. That hurts is this petScom. I don't think so these guys have billions of dollars in revenue, huge customer loyalty, and they're losing on the second might have been. Right. It might have been right. Correct. What am I first companies got bought by Topi other their competitor? I don't know that no Topi member. Trust me. I remember topa. I have I still have them a lot of shares in Potosi, if you want to buy them, but I don't think yeah, I think this is a better business model to better run company. More top line revenue growing faster. This is a real business and it's worth something I disown over. It's worth fourteen billion, but only the one of two soul unicorns and my home state. Florida quick trivia question. Can you name the other one chew dot com is one Miami. There's one other thing about it third largest economy. Third largest state in the union. We only have two unicorns. Do you know the second hanging chads dot com? Shot stealing election stock. That's us. Disney dot com. No, it's, it's magically to VR company, which, you know, I think it's going. Yeah. Magically going going nowhere straight down there. So we'll see about that. We'll see about that. All right a fail. Would you have a failed? So my fail is going to be a sender's fear mongering about, you know, unintended consequences, but I've got a new one yesterday shell Sandberg was in gone talking about she wasn't conscious. What do you call it? It's kind. No, it's not even I thought it was cans. I found out from my drive. It's not. It's gone gone like your anger at some gun. Okay. It's whatever con so, so my loser shell Sambat, who hasn't Chaka, Chaka Chaka Khan nano. No, not even close. I feel for you. Care, Sheryl Sandberg you. She's. All the way over there. You should see my moves when Chaka Khan comes on all my God. It's time to spread a little Scott back to your show. That's awesome. I looked like I literally that is something I hope never to have same anywhere near your dance. Just imagine at is my goal. Just imagine the kebob. Crane, having a grandma epileptic seizure, that is what it's like to watch the big dog BUSTER move, okay? So shell samba getting one of her softball interviews and like how is the last year been few, and she paused? And she looked at the audience Stoffel and said it's been hard, it's been hard. So anyways, shell Sandberg is my loss. My fail for figuring out a way to retool gross negligence on a cosmic scale into executive stress has it been hard on. You Cheryl has it been really hard on you who with the interviewer who's we? Some, some attractive woman in a sleeveless, dress known as a journalist from every business news network in the world. Anyways, who probably went to McGill or or Kellogg and his very thoughtful person who's like an airline pilot. Seventies netter pests days of glory are behind her like every other business news anchor, but anyways, it's been very it's been she was not as, as she got she got up not good reviews for it. I'll tell you that you didn't get. Well, I mean. Well, I mean it's been hard on her. It's been hard on her really. It's been hard on you, we'll guess what? It's been hard. How about all of the women who are slowly, but surely, losing their reproductive rights at the hands of an illegitimate president that you helped elect because of your gross negligence. It's been pretty hard on them. Cheryl. Okay. I'm angry fail. Where's the row say? Where is the rose you need to have gallon? Anger. I notice beautiful hair like that people are coming up to you wondering where I am. We're like we're like Khan, joined twins, that have been recently separated. They see me and they smile, and they go where's care? Like, we hang out together all the time they literally think around all the time and find a Mike and start complaining about big tack. That's how we live our lives, according. That's right. That's exactly right. Well, I hope you enjoy yourself, so Scott before I leave you to have Rosa was Sheryl Sandberg. I would like it prediction from you. What's your prediction that that'll never happen? That's my prediction show. I think that the two best performing IPO's of our new issuance of nineteen. And again, I think there's three critical criteria here explosive growth, recurring, revenue and network affects, I think zoom and the company ended their direct listening this week slack have all of those three things, and I have trouble finding all those three things in any of the other all the other IPO's or direct listings. Have two of the three maybe with the exception of Spotify. But I got that wrong. So I'm very bullish people. Oh Sam so negative. I'm very bullish on both slack and zoom. So look to them to perform well over the next twelve months, even though slack has those this revenue issues. I mean, there was slowing revenue growth, even though it's quite spectacular slowing. And they'll so there. Losing money. You're not worried about that. You don't think investors will be concerned. I can't tell you the, the kind of informal net promoter score that I've registered across mall companies I work with around slack. Is it it's almost like this virus that takes over the organization, and people love it and can't live without it. So to me, seems like a great product product. All right. And then where are you with Uber? Still, where are you with over lift our? Yeah. Uber lift are still waiting for their massive implosion. We're going to lose the value of Ford Motor between that distraction. We're going see it Uber and left over the next twelve months. All right, that's right. That's exactly right. Will I hope you enjoy yourself? So next week we're we have a guest house, stepping in view. Casey Newton of the verge written an amazing piece, speaking Facebook on the moderators, and they're terrible lives of moderating. All the, the, the drek and toxins that flows over the Facebook platform, he's, he's gonna talk about that, and more, where are you going to be where where's your where's your destination? You know, I don't like it, and it makes me feel insecure. When you bring him people more credible and more talented than me. An article is great. That was a hell of an article good good stuff on where are you going to be? So are you traveling more in Greece? I had to agree on Saturday morning how interesting because I'm coming to France tomorrow. What are you doing in France CARA? I'll just miss you. I'm taking my lovely girlfriend on a big. And then I'm and then I'm going to Brussels to talk to the Brussels regulators. I'm going to London to do podcasts was all kinds of powerful people. They are possible. Carol cadwalader. I'm going to be doing a lot of work too. Besides muscle, Jordan, Peres, God, bringing impress in your new girlfriend, with France, and then heading to Brussels to do some high end your saucy little minx. You're trying to show off. You're throwing your batters out there. You're like I'm a peacock checkout. Mommy checkout. Mommy. This is good. This is I think, I'll just giving some oil stirs speaks, French fluently. So that's gonna be fun. Of course. Sakon properly. All right. Neither of us should should be in Paris in any way. But, but she can go it'll be nice. I'll just be quiet next to eat Kreps quietly in the corner. Anyway, thank you got a week. You're gone, put help back. You man. That's the nicest thing you've ever said to me do mean that to really mean that, yes I do. I hope oh, that makes me feel nice. I feel warm all over, you know, I'm just trying to lull. You know just go. And hang out with Charleston had a hard year. Children, Cheryl and share share. A Rosa was Charleston. You know, it's been hard, it's been hard. It's been hard on me. You can pay for with libra very short with libra. It's all going to be, it's all you make Scott have a good time. Thank you so much, Camilo Salazar, produced our show today. Nishad Kerr is pivots executive producer. Thanks. Also, Eric Johnson. Thanks for listening to pivot from box media will back next week for another breakdown of all things tech, and business, make sure you subscribe to the show on apple podcast. And if you liked this week's episode leave us a review. Hi, it's CARA. I want to tell you about the newest season of the thread, a podcast from Ozzy that I think you'll enjoy the summer marks the twentieth anniversary of the nineteen ninety nine US women's World Cup. One of the most memorable moments in sports history. There are other podcasts about the World Cup. But while most cater to soccer fanatics, the thread goes beyond the sports altogether, highlighting, the women who paved the way from Brooklyn teacher, who helped pass title nine to the black gay civil rights attorney who made that possible. Go check out the newest season of the thread by Ozzy on apple podcasts or on your favorite podcast app.

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Sharks, WeWork & Tumblr's tumble from grace

Pivot with Kara Swisher and Scott Galloway

50:05 min | 1 year ago

Sharks, WeWork & Tumblr's tumble from grace

"There's no room for idle chat and business. So if email is your only moneymaker make room for something new intercom intercom calm the only business messenger that starts with real time chat then keeps growing your business with conversational bots and guided product towards take entercom customer unity and just twelve months they converted forty five percent more visitors through intercom messenger make room for a new revenue channel go to intercom dot com slash podcast broadcast. That's entercom dot com slash podcast hi everyone this is pivot kibet from the vox media podcast network. I'm scott galloway scott. We are in new england right now together but not great shark fades. We'll get the sharks in a minute. You are on nantucket where all the fancy people are and i am up in province town where all the interesting artists and people different people are and that's that's essentially our relationship but let's rephrase that your lame i'm cool. My name is carlos fisher said yes. I believe that's what i just said. I'm with the drag queens so great drag but the sharks we referring to is all over the cape and tugging martha's vineyard. There's been sharks everywhere. Cited needed everywhere all kinds of stuff on the internet great. White sharks are everywhere and you're scared to go in the water andrew stand while i'm not gonna say this has had any impact on me but i refuse to go in the pool. <hes> i'm literally. I am so freaked out it system because here's the thing about sharks they they don't. You're not part of the natural food supply they don't. I know way too much about them. There's unfortunately this great website. You can go to to track all these great whites which is going to air disaster dot com and that is after you. Do you wish you had not done it yeah but effectively these guys don't want to eat us and most of the time you survive a shark attack. Some dana florida has more shark attacks every year than the wrestling russell combined but they just take a small by realize you're not their food supply and they leave but the idea of a of a refrigerator with teeth coming up and taking a bite out of me. I'd rather just die. I instantly than survive to experience jaws. We're the same we saw josh. Josh was a formative movie for us correct. One of the great films of all time roy scheider robert shaw cinematic peak probably richard dreyfuss a cinematic spielberg started as a director one hundred percent of second movie after duel with dennis weaver anyway the enough about enough about sharks. I'm scared shitless. Can we segue into we were because we were excited. Speaking of sharks speaking things sharks shark speaking. You're obsessed szeswith. We works to first of all. Let's just make it clear. You've been talking about that. We work business model as being less than sound for a long time. Why don't you go into that. I and of course their i._p._o. Joe is coming so go for it will first. Let's talk about their mission and their mission is to elevate the world's consciousness which they say that like it's a good thing i've got an appointment here tomorrow at the sink called the green lady dispensary and my entire all my disposable income lately is going to try to dampen my consciousness justness but they're talking about elevating it. Whether it's a coppa or trips to the dispensary. My wife was complaining this morning. I'm not president enough. I'm gonna go trust me on this. You do not want me president. I need to be less conscious anyways elevating our consciousness. It's a fucking it's it's real estate and this is literally. We kinda continues this culture. Let's find the words and the positioning of the highest multiple companies in the world and let's try and masquerade as one of those companies so they're calling themselves spaces service and they talk about themselves being a tech company. They mention the word technology one hundred hundred twenty three times in perspective they talk about. You're not a renter carazo. You're a member so when i stay at <hes> you know the holiday inn next week. I'm not a guest on a member and they also talk about <hes> <hes> they're trying to position of newman is the next step as they mentioned his name one hundred sixty nine times yes and if you read the a related party transaction section it's like literally reading lesson in poor corporate governance and it's an intolerable indictment edmund on the board that they let their shit go down so for example done well for example out of newman owned the term we he called his family office and investment holdings the we group and they decided or we they decided that would be a better name for the company so in his generosity he sold the term we which i did not be trademark back to the company for a cool five point nine million that was supposedly validated by outside <hes> third party so seven hundred million in loans constant and to step in the in the prospectus and what we have here is a company. I it's an interesting company. It should be worse like two or three billion dollars colors similar to its competitors but they're trying to position it as something that's worth forty five and with this really is this is a test of how of whether or not the markets finally when we say enough i mean uber and lift got out. They probably shouldn't have but the markets are starting to sober up and take both to the woodshed. It'll be interesting if the consensual show who has nation continues and we were can even get out. What do you think this business is worth. And what do you think the business is away from all this you know renting as a service or whatever it is cassette <unk>. What do you think it is well. It did one point eight billion in revenue for two thousand eighteen and granted. It's explosive growth one hundred five percent year on year but it also reported losses of about one point nine billion. If you look at other companies that are in the business of renting offices they get anywhere between point five and three times so let's look at this and say it trays trays at the upper range of this. This is a company and let's assume that at some point they get some scale and can at <hes> you know somewhere along. The lines look profitability. This is a company that if you really excited about about it you could justify maybe five to ten billion dollar valuation because it is a great brand. They do a great job but let me start a company where i can lose one hundred you now i can i can lose fifty cents on the dollar and i'll build a great co working space. I don't think that's i think it's an interesting concept. By the way like uber. Every consumer in the world should use we work and take uber to we work because you're investors or investors are financing. What is a non economical value proposition but i think this company ultimately is worth five to ten billion dollars and i think the public markets after some time should it even get public will register that value and the problem is one of the issues is these these these companies are supposedly worth and they use it as a proxy and a benchmark their most recent private round valuation which for we work around forty seven billion dollars and what they fail to realize is is that in the private markets the most recent investors usually got a press meaning that if they put in a billion dollars in there the last ones to put it in even at the sky high valuation the first billion out of the company they get back so exactly so that number is sort of a fake number but it serves a a a very useful purpose for the people trying to pump and dump it in that they can say to the public markets. Hey joe lunchbox. You should pay this value for this company because it's cool. They're smart people behind it. It's an interesting concept that your son uses or your daughter uses and smart people paid this number four not realizing that the public market investor the retail investor doesn't have that same downside protection so this is another for example and we'll go into the ultimate i agree. I think this guy taken this much. Money out was unprecedented. It's such a lack of board oversight in terms of this guy taking how much you take out. It's like seven hundred million dollars that says every single thing to me. I'm sorry you take up seven hundred million. You just signaled exactly what you think of this company. You know what i mean. It's it's just he's take. It's happened before several times and it's the same bullshit essentially in addition one of the keys. She's when you're on a ideally when you're looking at when you're staring down the barrel of a recession you wanna company you wanna company where you can variable is the cost meaning that okay okay. If if our revenues go down we can variable is our cost structure down and survive and if you think of we work is almost like an investment vehicle dubai's real estate and then tries arbiter short-term at a higher number which is different than hurts or really winter. A real estate landlord does it by a company long term and then they and they sell it short term. That's that's not a a different business model but where these companies go out of business is what escape jim clark ice work with gave me this great term <hes> the reason out of business is mismatched rations and that is they borrow money short and they invest long in other words. Their customers need to give them twenty four hours notice. Sometimes sometimes they have leases as long as eight months but their revenues are are can can leave fast whereas their expenses they're signing tenure leases so you had you had into a recession and you have a twenty or thirty percent down members but you're still stuck with the long term leases yep. This is a company that is this especially vulnerable during the downturn which this inverted you did why curve is like freaking people out. It sounds like this is just to me. You can't slap nice wallpaper and khumbu fresh kabukicho coach on it and think that that's going to survive the recession it just it's just not true. It's just that's where it gets me. Is the this recession that is clearly headed this way that most people most smart people i think <hes> caused by a lot of things we'll get to that in a second but i agree i think you would you do short this company or would you. I don't buy and sell stocks like this. I don't typically either and also. I don't ever short companies one because i think it's bad karma. The natural trajectory of the markets is up. You have to be professional shortcomings. You gotta spend end all day watching the stock. I think shorting really is for the pros but if you look at this company i mean let's look at some comparable hurts which is effectively the same business model for cars cars except there's not a you know a tap of i._p. In the passenger seat which by the way i think is a really good idea anyways trades they traded point two x times revenues amazon on who clearly we work if you believe their perspectives is trying to be the next amazon saying that they're a tech company for some reason amazon trades at four times revenues and based based on the most recent evaluation of we work. There's basically there's real estate. Company traits twenty-sixth. It's it's being flashing. Accident didn't sign. I think that sounds right have you have you talked to anybody. Investors are people if they keep they kept offering me him for interviews and i just was like i just think this is just bullshit like you know what i mean like. I didn't feel like beating them up like internet. I mean i you know i just didn't and there's this whole like hey. I'm more in a t shirt and my hair is flowing and hey. It's all cool. I just like you rent office space right like i it's not a tech company is sort of like theranos in that way. It's like you're. You're not a tech company. I'm pretty and then that was more tech company in its fake that whatever that edison machine was. It's not a tech company's not attack and it's just not and so. I don't know why i would speak to him. That's how you use the t word. I don't know i just watched all hours low documentary which was fascinating. What a good good. I was at least what a good idea that was. This one is just renting office space like that. That's that's where it comes down to and it's a very lovely office but you know whatever in any way well speaking of which real companies that are getting hurt by economics is this trade wars with china affecting tech companies obviously trump who is doubling down on these terrorists now pull back a little bit for christmas. I think largely for political reasons so that the economy doesn't get you know bashed a lot but a lot of these electronic firms are seeing a sharp slowdown in revenue growth for the quarter because of because of this including the ones in china to everybody. Everybody on both sides of the of the ocean are seeing the troubles else any impact you think well i unfortunately i think we've lost this one and that is <hes>. I believe that the actually think the president got it right that the the the the agreement or the approach of the chinese kind of this mercantile trading gestalt is bad for you know as symmetrically manages them but we should have gone into this discussion russian with the full half of our allies and had a more thoughtful conversation and here's the problem in a world war the americans lost a quarter of a million people germans last five hundred and fifty thousand thousand and the russians lost twenty million people and they were lost another twenty million because the competence of russians is the ability to to basically suffer and the chinese this will close towns down they will say oh sorry you need to be relocated because we're no longer making this widget because of the trade war with our enemy the u._s. and we have a soybean farmer in wisconsin that is all of a sudden struggling and m._s._n._b._c. is out there talking about a bailout so we just don't have the same tolerance to endure the sort of suffering suffering despite the fact that on a kind of perry assu level. We're in better shape or can hurt them more than hurt us but we gonna hangnail and we're gonna freak out. The u._s. is is just so incredibly our soldiers needed chocolate playboy magazine's cigarettes. The chinese and world war two needed a handful of rice ago a week. It's interesting resting. I saw this movie the farewell here which was not about that it's with aquafina but they actually talked about those issues the the difference and it was i was thinking this sounds like the trade wars like they can. They can wait way to south. They can wait. Wait us out all right good tenure they think in ten and twenty or anchorman we think an election cycle increments but the companies it will affect intech robs the apple probably the most significantly and we'll see how that goes speaking of a tech companies <hes> i wrote this week in the new york times about tumbler and how sold the company behind wordpress mellon league. It's called automatic for a fraction of what it was sold for. Marissa mayer bought it for one point one billion dollars in two thousand thirteen a story that i actually actually broke and now i think it's maybe three million dollars to ten million dollars. They don't really quite know the but it's hardly anything. Even though it's relatively still a big site compared to a lot of other social media platforms <hes> tumbler was i wrote about how it was the thing and it was when it was when things were sort of they were the most creative of all these companies companies these social media companies and sort of they fell on hard times because of a range of things both external and internal <hes> and including you know pornography the priority on the site <hes> all kinds of different issues. So what do you think about that sale the number you have a different take on this. I mean first off ninety nine. I'm point seven percent decline destruction value. That's just unprecedented yeah. <hes> i think tumble was always a porn site and i think that because venture capitalists and nice nice people from silicon valley <unk> opportunity to make money they tried to recast it something else somewhere between twenty three and twenty eight percent of the cox. Even from the early days was adult content and then when they decided to turn off the porn after all these people had sold their shares <hes> they lost a third of their their traffic overnight so when you're a platform whose primary primary domain is adult content euro porn site in my my question would be the following <hes> you know union square ventures and the general limited partners there who invested four hundred thousand dollars and got two hundred and forty million back. Have there ever been any individuals in the history of business that have made more money from pornography than news individuals fred wilson. Oh you mean king of porn okay and doc an email on that one all right. You know it's an interesting thing. I don't agree with that. It was all fully porn when it started. I think it was really the difference between safe havens dukes presage research quality and porn. I mean i think it started off followed her to express. Some of it is important. It was scott galloway's enjoyment. It was a way express. Dan sells you name. It was and then it got to that you add absolutely did and then obviously when they got corporate owners that couldn't have couldn't stay and they tried all kinds of coleman home and as long as they on shares yes but i'm saying win the companies that when it finally yahu for that incredible amount of money honey which i thought was incredible at the time 'cause they weren't making that much money in their advertising. They had a problem with average. I remember them talking. We don't like advertising. It was like what are you gonna do well porn selborne. They started to crack down. They first started by trying to bam things or moves things or put a safe default on it save watching default but then when verizon got it it was like no no <hes> and then their mobile app child porn got into you know apple wouldn't tolerate that and so i think it's you know it's series of owners because it went from yahu and yahoo got bought by a._o._l. Became oath well got bob. I you know it just went one after you know it just was one corporate owner after the next <hes> that really just it was wrong. Place where it is now is a really interesting place. Manmohan wag is one of the sort of the the original type of people all who should have owned a site like this who did understand all these problems so i think it'll be interesting what he does and it was sort of a solid for verizon to sell him versus porn hub was interested in it as you talk about <hes> buying it and it was kind of solve that they didn't go for the most money here because it was like a diminishing amount of money but one thing i would love your commentary on is like mercer mayer at one one point. One billion is what she paid for it. Look the worst deal in history. I'm patting myself on the back and we'll hopefully have find the tape and roll tape tape here another loser tumbler. We believe that instagram is the best acquisition of the last five years and tumbler is the worst both costs about a billion dollars both have the same user base instagram instagram. We'll be do between two hundred fifty million and four hundred and fifty million this year tumbler was noticeably absent from yahoo's earnings call which means likely the revenue somewhat negligible but five years ago five years ago i said <hes> in a very public conference that instagram and tumbler with the best more sock was in the last decade and tech. I said that a p._n._g. Signals conference the four marissa mayer took the stage so i had to sit behind stage after saying that this was the worst acquisition acquisition and technology and if you wanna talk about pump and dump the backstory on tumblers really interesting because you had dan logo. I know you're friends with come in my oh my god no him anyways he basically took a large stake in yahoo agitated get seats on the board and then fired a guy named scott thompson for saying that he had a minor in computer science from his university on his resume whereas shell sambergen mark zuckerberg weaponized election dick artnews scott thomsen gets fired for the exaggerating his resume that makes sense anyway. I broke a lot of the stories he more than he more okay so he gets fired and then download comes out about that stuff go download unload comes in and hypes marissa mayer who was very compelling figure brings her in clearly in the first two board meetings realizes she has no idea what the fox. She's doing doing and sells all his shares. Once the stock is up and then marissa mayer goes on to do some of the some of the lowlights her tenure hire someone to head sales from her old company google through she fires within fourteen months and gives one hundred twenty million dollars severance family to checks almost queers the tax structure of the asset worth ninety seven comprise ninety six percent of the value of the company that was their stake in alibaba took revenues down twenty percent eva down fifty percent santo and by the way walked out the door with a quarter of a billion dollars. I mean they are few people who have done more damage while making more money the mark zuckerberg sheryl sandberg but there's very few people who have made paid more money while destroying more shareholder value than marissa mayer that was my coverage was like you know how i wrote about the at particular tenure not in your out in front of this when everyone had decided that no one wanted to say anything bad brummer smear but she had to fill this this void of hype and inflationary expectations and the way she filled it was with pumpers and dumpers of the modern era union square ventures by the way. If you wanna see you ed bullshit. Private companies are being hyped right now just go to a._b._c. dot com and see what blockchain or crypto bullshit. It's totally overvalued. It'd be forced it on some unwitting corporate executive -secutive anyway so they foisted they foisted tumbler into the void of inflated expectations one point one billion dollars and it was blaming them. Are you blaming them. They got. They got out there smart smart. Let's be clear this is this company. The core competence these individuals is they are masters pumpers and dumpers and i when i said this was the worst acquisition the last ten years there's five backstage wasn't it was very awkward uncomfortable because he seemed like a nice woman. Anyways i wasn't present. I just could do math. They had absolutely absolutely no advertising. A third of their content was porn and they paid one point one billion dollars for it. I mean it was just anyways. This was it was really just massive inflated expectations pump and dump everywhere and you say okay. It's interesting. What's happened here. The fucking bike rental shop down the road talk. It is worth more than tumbler right now and it's it's a joke was that at silicon valley house of middling silicon valley house was worth more than tumblers there. It's still down now aside from all your thing. It's still has is quite large. It's still quite large. There's not that many big sites and some of it is good and so there will be interesting to see what matt molin alan wake does with this. There's no downside to him for this. <hes> wordpress used to be a competitor in a lot of ways and tumbler and so it's interesting to see what he'll do with n._c. If he can salvage the really very create there were enormous creativity tumbler in the beginning. I understand the porn part. I do did degenerate into that was twenty one percent actually <hes> of never degenerated generated though that's what i'm saying it was always a porn site until a bunch of knights v._c.'s and silicon valley people while they were holding shares tried to recast it as something else born on it early. You were not using it early. I'm telling you i was using it. Almost every day. Care andros. I easy to post pictures of graffiti. You were doing something else and i'm just saying two things can be not mutually exclusive my hobbies myabe where here it is. Now is the right place for it and i'm hoping that mad who is a very has been a very quiet successful entrepreneur will do something with it he's not he doesn't toot his own horn born. He's made a very successful. You know blogging platform very quietly could've sold a million times. I think it'll be interesting to see if he can get to the heart of what was good about it and remove the parts that you like and perhaps sell it to you so you can run such a sight anyway. We'll see birds. We'll see what happens lastly before we get to a break you know. There was a story in the new york times this week. Supposedly <hes> which james stewart wrote from a meeting he apparently edge jeffrey epstein was going around to tech reporters but not this one one <hes> and meeting them talking people that are interested in tech <hes> about how he was advisors to a lot of tech people and specifically in this column mid alleged epstein alleged inch that he was helping elon musk compile lists for new chairman candidates to oversee the tesla board at the same time epstein alleged that you know most tech a lot of tech moguls or very hedonistic and wild and he knew all the stories but of course never said anything. I thought it was a tiny bit irresponsible to let this dead guy. It was an off the record meeting but he's dead so oh. I'm fine with them. Running there was no backup on whether any of this was true and leading this this lying dead guy pedophile have his last words words seemed to be problematic as far as i'm concerned so we'll see if there really were links between tech people and epstein when these federal investigations get going and if they were problematic matic or up there were just gross but it was an interesting question. He seemed to have his you know anywhere. Powerful people were guy shows up like zelic which is kind of disturbing ping but there's a there's a subject economy boutique industry now into shaming people and it's gotten to the point where oh you you're at the same party with jeffrey obscene that means you're guilty or something. It's like enough already. Jefferson just went a little further. This was a little further. You know there was a story. The daily mail that bill gates took a plane ride with them. They say that i understand stand that. I'm just saying that what i'd like to see is the federal investigators actually find out anything that is actually legal and that's my i agree with you. I think we're on the same page on this. It's like could be but hinge just investing is that how would you know it's gross it gross if you knew about his if you had done this after he was convicted is just gross to the to have done that at the same time you're right just adjacency does not it's a problematic adjacency unless you have proof of of something more more sinister star it reminds me of when bill clinton was accused of being a manchurian type figure because in college he done an internship in russia and james carville adroitly responded for god's sakes as we were planning on basketball. I mean just at what point is like you said adjacent adjacent associations just become that adjacent associations and nothing more that said i think people are are very upset by this sort of very clear power structure that look that sits on the top of society at some of whose members are super super abusive like epstein right so i think there is this. You're going to hear more about this. I think this idea of this power structure that you know <hes> sort of back back rubbing dubbing kind of backslapping group is the same thing as the you know the cigar smoke firms that everyone knows about is that these there's these elite centers of power that other people don't get into <hes> and i think you're gonna see you know all of a sudden. There's a worst society that happened in you know but i'm just saying i think you're gonna see a lot of people. Disrupting thing shows the very ugly ugliest side of that. It'll be interesting to see a federal investigators really do come up with some more significant things. We'll see hundred percent. We'll see but you know on the shaming culture continues. Don't complain about the shaming cultures sitting on time scared of sharks giving you a hard time. I'm scared of the raiders with fins. We're coming for you scott. We're going to bite you and then just leave you alive. That's damp in my conscious. Elevate my consciousness fucking we work. That's what i need and easy wears context break when we get back windsor and you know i'm ready to turn you can drink soon. We'll talk soon about wins and fails in our predictions for the next week. We'll be back after after this hai daniel hi amanda we get to tell everyone about the new pod eaters i jazz digest that is right are brand. New podcast is available now. It's everything you need to know about the world of food every week with a little help from the biggest names names in the industry and food journalists from the newsroom. We're gonna talk about everything from the worst things that diners do in restaurants too big meat. We're gonna talk about delivery tack. We are are going to argue a lot about how to behave in restaurants. Oh yeah big time so many things politics food and politics. Yes comes comes up. It might make you laugh. It might make you think it might even make you hungry. Daniel so subscribe to eaters digest for free on apple podcasts or in your favorite podcast in this episode is brought to you by a._t. And t. business the products you use to manage your business should make you more competitive not not slow you down but that's exactly what happens when your business technology is silo d- edge to edge intelligence from a._t. And t. business gives you the power to see every corner of your growing doing business so you can make your next move with near real time information on everything from inventory to cybersecurity to customer feedback whether you're collaborating with remote teams to introduce new products to market faster managing your fleet so you can out deliver your competition or monitoring network bandwith to meet spikes in demand edge to edge intelligence gives as you in edge over the competition helping you see opportunity adapt available resources and pursue the idea that will grow your business. That's the power of edge to edge. Intelligence learn learn more at a._t._t. Dot com slash edge to edge back with scott galloway. He was on target where all the elite people are gathering secretly to make deals that the rest of us are not party to. I am here in the more democratic pronoun. Ah scott wins and fails. You've got a big win this week this week. Come on you can say it. You can yell it. Are you know who i'm just just blown away by is what i do. You know this guy raj chetty. He's an economist at harvard and the youngest is basically a shoo in for the nobel prize is at one point and he gets government data and he looks at income inequality and income mobility and as you know occasionally you just see an academic and he's his whole tagline tagline is big data as a force of moral good and i just love this guy and he's looking at basically income ability income inequality and i. I've learned so much as reading his day so i i've always thought that affirmative action should be economically based on race base and what he's found is that for example well <hes> person of color born into wealth as twice as likely to end up in poverty than white person born into wealth which i thought was fascinating also done this incredible research around where you live has a huge component of income ability so for example poor person born in the bottom quintile and salt lake as an eleven percent chance of getting the upper quintile where someone someone born in charlotte has half that in his whole attitude is if we can find data and connect them to an issue we can manage the data we can adapt it and we can manipulate if you late it and i think this guy is taking an incredible brain incredible discipline incredible immigrants story and is changing the world for the better and is just brings out the best in what we're supposed to do in academia pursue that truth for the betterment of of the comments i saw my my winners professor <hes> rosh steady future nobel prize winner who who is taking very boring data and turning into very important seminal work downtown. That's so brainy. I thought you were going to scream rundle's back baby. Oh nike we didn't talk about that. Yes come away win. Only one word to describe that gangster nike swoosh coming in plain what rundle's are for the people who do not follow us okay so it's a little bit. I'm trying to think i don't i don't know if i'm conflicted. Disclose it because it makes me look good but i i've done some work work with nike and talking to them a lot about recurring revenue bundles or rundle's but basically nike has decided to go after effectively subscription products with kids who have this terrible habit of growing kids age two to five feet right now they grow one and a half millimeter is a moth they need six pairs of shoes then they need about four paris ars from five to seven and then it goes down to like two pairs but they're essentially offering a subscription service where you can pick any of these shoes and not have to worry about cost and some even some predictive addictive technology to good shoes though are they choose the good shoes and here's the thing it only makes economic sense because on average they're charging about fifty or sixty bucks a shoe when you can get them for about the same price on zappa's it only makes sense if you go for the higher price shoes and you get the shoes more often than your kids feed or growing but what they but that doesn't take into account as a it's fun to be a part of the community and be it's more convenient than trying to figure out the constant price trade off and figure out what am i kids. Mike sue just have them order but you can see this as a trend where great brands like nike nike begin to attack individual cohorts with a subscription offering that takes friction out of the process and just says all right you don't have to constantly measure off price versus quality holiday. Just get your damn shoes because you're entitled to them but this is. I think this is a fantastic move. An indicator of where our consumer economy is heading so thanks for bringing the next next rundle that you're not involved with planning what's the next rundle or maybe the one you're involved with planning so loosely speaking and i will mention the brand but i think that <hes> <hes> <hes> travel so unfortunately the top one percent garnering all the incremental incumbent. I think travel involves a lot of decisions and a lot of uncertainty and one of the biggest mistakes that brands in the economy <hes> consumer brands in a consumer exec because that s professor anger says a columbia university is a total gangster consumers. Don't want more choice. They just wanna fewer choices but they wanna be more confident in the few choices are presented with and i think something around travel where fantastic iconic brand comes in and says we're going to handle everything. Pay one fee and we're literally gonna take your hospitality your travel your your airplanes your hotels off the table and we're going gonna tell you where to go. You're going to pay one fee so for example at four seasons just to give you an app anytime you landed at says you either pay four or six hundred dollars a night depending upon the city and we send you a q._r. Code and you're done and you pay ten thousand dollars a year or something like that. I think there's huge opportunity. What did they give you because people are plagued by choices at the same time. I'm your also like this one better. Did i miss this but i think there's a lot of people that were just love to land somewhere and have the confidence of knowing okay. This is my brand. They're putting me at the right hotel. I don't have to do the trade off of cost versus everything they just know what i want. I pay an annual fee. May maybe give it to me a cost where they give me the best hotel room in the hotel l. and pay an annual fee and i'm just done this. There were all those every rich. I belong to some vacation properties. I can't remember what it is. They were all in it and they got the nice raw. Aww yeah whatever that so. It's just virtually any else no. I don't think so i think this is going to be a bigger grand. Bargain where somebody's going to be the lead dog here enroll upper upper coordinate a bunch of other brands and just say okay you try. I mean to a certain extent amazon has done this and e-commerce. You trust that you just default. Is there now if amazon go into predictive modeling and to start sending me stuff <hes> proactively or speculatively. That's what i think we're talking about but i think there's gonna be a series of brands across our major consumer categories travel travel health apparel and it just going to be one brand and says we know you better than you know. You and we're just gonna start proactively sending you stuff so you don't have to make choice. We're going to tell you you tell l._s._u. Want to go to africa. We'll tell you where stay how to get there and we'll charge you wholesale and every year. We'll just charge you one big fee and we'll get to know each other. It's what it's the difference between whatever called serial dating and monogamy. The most marketplace wants monogamy. It's a better way to run a business so i think you're gonna see a series of monogamous recurring revenue bundle relationships emerged yeah. You're so deep this week. It's deep. You're not as shout. I haven't even been to the dispensary. Talk show hours. What's your fail. What's your fail then my fail assist this pump open dumb culture then. I just wonder when it's gonna end. I wonder if we were ever nether said the person who's the most human race until the human race is blown off this earth but go ahead go ahead is but as we work the next tumbler at some point does the manufacturing of hype in the nomenclature of the fraudulent nomenclature in using the word tech one hundred and twenty seven times in a prospectus and then claiming that someone evaluation of forty seven billion and then foisting it on the unwinding retail investor at some point point does the pump and dump culture to somebody call bullshit on it and so my fail is the pump and <hes> you know we'll see but tumblers is such a cautionary tail and we work could potentially be. I think the next tumbler manages to get out. I think you're gonna see an extraordinary destruction of value if the bankers are actually able all to force this thing. Do you think the chances you know care. I don't know because my thought. I didn't think i thought uber and lift it was a chance they minute. Get out and granted. They're they're slowly but surely the ariza being led out of that balloon those companies rob. I think twenty or thirty percent but look at you know. The bankers got their money. The founder scott their money. The investors got their money and it's the guy that gal holding shares an e._t._f. Especially recession yes. We are cautioning watching you. People just the way there are sharp cautioning on the beach where we are. We're sharks out there. You're going to get bit and you're going to lie on the shore in pain and not dead. That's a nice image jesus christ. What are you doing to me. My kids are running around the house or wetsuits basically they might as well be flapping flapping. Bring their fans and asking for for you know asking for feels this week. I went to fishing with my kids. We caught fish and then my son cook them all and and we gave the carcasses the seals as we were filleting them on the dock stanford from sales food chain food chains sherman hate the seals here because they take all the fish. I i like the sales because i have one. That's a win on a fail and it's anthony scaramucci fight with the president go on. I haven't talked to them yeah. I'm gonna i didn't have enough energy to text them this week but i think it's interesting that he's now suddenly you know and this concept and he and i have argued about this this ala carte liking and disliking the president is the same thing with stephen the hudson yards do ross right like he's an all cart method of liking someone. I don't agree with this racism but i like tax breaks. I'm like it's not at all a car. You can't pick and choose between this guy like it. All goes together. You have to take the centrebacks you gotta take the raises tweets. You gotta take what's obviously you know a declining mental situation which i think scare mucci quite specifically referred to in which george conway also people close to those groups are referring to like a continuing decline in mental facility. I mean it's it's. They're not even being you know sort of oh. He's a little bit off. It's like crazy easy in that way i kind of welcomed the message and at the fail thing it's never our friends before like now you're worried and now you say brave of you. And what took you so long so that's i think that sort of of the double mines and so i do want to have a discussion with him about it because like what they tend to try to do is get you to dismiss the people who oppose them with these people sort of breakout and start actually telling the truth is that they try to undercut them by saying things like oh well you know he wants to a contract. He wants he wants to be on c._n._n. He wants to be liked by the lip cards whatever i don't care if he's telling the truth who cares if he wants to benefit from it and what is the real benefit. Is there a real benefit and so i'm fascinated by if there's going to be he was saying that the cabinet members think this that he's crazy easy and this and that and so i'm wondering will there be a moment when everyone goes okay like a cannot do anymore but i don't think there is a bottom for the republican party with this situation they seem to do and now they're comfortable defending the indefensible and so it was fascinating. I thought it was a win and lose. I don't i don't know quite how i feel about it. So that's that's my win and lose. Okay one and you brought up the kind of the irony or the i don't know the the inconsistency of wind cloudflare all of a sudden decided they had enough with age and you're like well look. We've been having this conversation for a while. Now all of a sudden you've found religion which was a fair point but the mooch there's a term to describe the march and that is totally full of shit and that is when a white supremacists ran over a woman you know he was okay with that. He was talking about tax cuts but all of a sudden. He's fed up with president trump. You know what the mu has no no tolerance for being out of the media cycle. That is the only thing he gives a shit about and all of a sudden. It's popped up and decided he's had enough of the president. Well show me anything the thing the president has done recently that has any different than what he was doing while you were carrying water and the notion that all of a sudden he's he's found religion he hasn't he just wasn't on on m._s._n._b._c. enough and remodel but people can also tell the truth at the same time. They may be in it for themselves. That's that's my problem with all this. It's like that's. That's the issue. I think katherine ram fell from the washington. Post had a very good thing is that he i think it all came from an appearance on bill maher where he was on bill marr he was defending the president actually quite handily and saying. I have some disagreement any voiced his concerns about the racist tweets but they were. I'm concerned about these racist. I don't like them and what happened was trump then reacted did saying you you use trader as he always does and then and then that's where he then then by sunday he was like fuck you like you know. Do you know what i mean. It was like an episode of goodfellas but which i feel like it is like we're living in goodfellas almost continually and he's the i guess the joe pesci character but it's a really i find it fast but at the same time i'm like well. I kind of want these people to say this because they know like like so so on some level. At least he's saying it and the others aren't so they're eleven days. You know they're all part of the same gangs. They're all there in the same. It's just so i i welcome the truth and at the same time i'm like what took you selling exactly and i think i had this discussion with him a million times on this issue and so it's a fascinating i bring him back on the podcast. Just and maybe i'll have you join. Maybe we'll have you join them well but what if someone is actually telling the truth that do just discount as he that's. That's how the trump the group works. That's how they flood these people so you know i. I don't know i don't know i don't know i'm confused and an i don't know what to do about thinking. This is what should be said at the same time. Do we like the people saying it sometimes we are. We don't get the people we want to tell the truth so i think what we all need to do is to elevate vader consciousness seven hundred dollars a day for a desk in i._p. Tap here <hes> so we work for fourteen point two seconds recode was was it's fine. They do a great job by the way we worked. It was an inexpensive slightly better than a key desk and i was irritated by number of things there. I didn't didn't did not spend much time there. Two or three billion addiction got to get to the beach. I gotta get to the beach predictions okay so i'm going to choose my words carefully here because this is such a hot topic but <hes> i think the playoff right by the way if i'm not risking my career every forty eight hours. I'm not i'm doing my job. <hes> okay look i think the the story of the year and maybe even the story of the next several years is going to be abstains apparent suicide and if you have ever ever been in a situation where it feels like there's a non shoe but a ten ton truck about to drop and it's not even i'm not even curious around this. I'm kind of scared because the notion that an individual who was about to spend the rest of his life in prison and the the only way he wasn't gonna spend the rest of his life in prison was to drop a dime on some of the world's most powerful people somehow ends up hanging himself in an eight by twelve cell after his on suicide watch. I mean it's like an land or something yeah yeah so i want to thank you episode of homeland but go ahead. I want to engage the same software investigators estimators. The president trump engaged to investigate ted cruz his father's a role in the assassination of j._f._k. Or the fact that he alleged that president obama was born in kenya. Yeah i wanna get those same crack investigators on this because if you were to basically look at all the conspiracy theories the white house laid out over the last four years and then talk about the fact you had this guy who now that is dead most powerful people in the world all sleeping better and how how if i tried to hang myself on fifth avenue with the cameras somebody would stop me yet. They couldn't who figure out a way to not let sky hang himself in an eight by twelve cell and there's all list will the guard wasn't around. There is either just such incredibly gross negligence or malfeasance here that it makes me sad because some some of the most talented people i know in some of my closest friends come to the united states not only for freedom's not only for economic opportunities but because of the rule of law that our government agencies are are not only seen as competent but they're trying to do the right thing and keira dish just stink. It makes me feel like a conspiracy theories. I'm like this is insane. Gene like this can't be incompetent. This is like so planned like the problem is which one of them kill them because there's so many there's on so many sides. It's like maybe it's someone was like. It's like the agatha christie mover murder on the orange county. It's like that's what it's like. All of them like over here. The clintons over here the trumps the clintons the the he musk is wandering somewhere around. You know it's like literally feels like there's so many deep and who knows what the russians it does feel like. We live in russia right now. It feels like oh they just fell. They just got a cold and died like what like what you know like the they. They took an umbrella and poked him or something right. I feel like the president's criminal defense attorney amelie comes out and says he's outraged like thou protest too much and the president tries to create a diversionary tactic accusing the clinton so this it's just i now the thing about this group of people on the top who are running being everything. I'm just telling you so. I look i'm not i'm not even sort of curious here. I'm just really disappointed that we're now that nation that it can seem probably were always that nation in case you're interested. There was always listen. I'm near the top and i'm scared of the people at the top. That's just saying they just they. They have a thing going on up there where they do bad things and that's the thing you gotta downgrade to the little dog park with the big. We don't have to worry about that. Ship balls and smell other dogs you are. I i am up on province greater dog park. I have nothing to worry about. Eight would be right where you are one big giant giant wave and it would be over for most of that is an elite island there. I've been there. I have just on your houses there because it doesn't anyway whatever kids who love me me. I have netflix a dispensary. I'm just going to enjoy myself that until we ask cancer shows up go. The good news is we're going to be seeing a whole lot of each other next week. We we have a live for the people of my gosh. We're we're hosting alive pivot show in new york and we're gonna do live predictions or we're going to assess ask people's predictions and it's just so am just totally shocked. People want to show up and see us live but or that casting is a thing. I just still can't figure out that that is a thing. It seems like it's sort of an oxymoron a thing i have been stopped on the street a dozen times here in providence town where no yeah that's it whereas sean hayes from <hes> will and grace. He's a friend of mine like three of his yeah we were hanging out with. Jack is a friend of mine so that that is so awesome this jack ask about me. Ask about me doesn't but he brought over like appa dozen other gay guys who loved it like i'm just thinking like oh hi. This person's a huge fan. They like rico decode too but they're like. They love the whole shtick they anyway. I suggested a jack another empty. Promise as another rabbit in l._a. Rava coat sweetheart yeah. We're gonna we're gonna send you a video then. You'll feel better and say hi scott anyway. We'll be in new york mark next week. It will also be on pivot. It'll be two pivots bonus episode galore next week. We're going to a regular pivot and this pivot. It's going to be great and i can't wait to see you scott. Wha- what are you wearing. Sorry you know what i was saying we do. I think we should go at least what i'm gonna. Do i want to go as meghan re pinot. We should dress. Don't you think you need hair for that but okay. We're okay you do whatever you want to you. I was thinking jumpsuits matching jumpsuits but anyway we'll figure it out on the phone separately separately. Thank you for dialing in to get back to the water. Take a dip no way no way jump in this home scrabble. That's my we have the dog rolls. You don't have to outrun the bear. You just have to faster than the other people running away from the bear. That's what i said anyway. Today's show was produced by rebecca synonymous honest and eric johnson erika anderson pivots executive producer. Thanks also to rebecca. Castro drew boroughs in his shot kirwa. Make sure you subscribe to the show on apple podcast. If you like this week's episode leave us a review. If you have any suggestions for what you want to hear us talk about on a future show send us an e mail hit at vox media dot com. Thanks for listening to pivot from vox media. We'll be back next week for another breakdown of all things tech and business the high medically editor in chief of eater and i'm daniel gene producer here at meter and we are here to tell you about our brand randy podcasts yours digest every week on the show we dive into the weirdest funniest and most important stories in the world of food with the the inside scoop from the biggest names in the industry expert insights from the eater newsroom. It's really fun time so i would say subscribe to digest for free today on apple podcasts or in your favorite podcast app. I hate this. Matthew yglesias host the weeds podcast here at box. I wanna let you know we're doing a new thing. On fridays. I sit down one on one with experts from academia think tanks advocacy groups around town to go sort of really in-depth particular issues in their expertise. I think you can and enjoy a lot. <hes> please check it out. We'd podcast every friday.

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LIVE! From SXSW it's Kara and Scott

Pivot with Kara Swisher and Scott Galloway

50:25 min | 2 years ago

LIVE! From SXSW it's Kara and Scott

"This episode of pivot is brought to you by on the shoe company that developed these super high tech souls that make you feel like you're running on clouds, take them for a spin. And you'll see why on is the fastest growing running brand in the world. Try a pair for free for thirty days at on dash running dot com slash pivot. Today's show is brought to you by HBO. What if there were a machine that could detect over two hundred diseases from a finger prick, Elizabeth homes, founder of theranos said there was the inventor out for blood in Silicon Valley follows homes and our companies fraud. See it when it premieres on Monday, March eighteenth on HBO. Howdy, everyone. This is pivot from the box media podcast network. I'm CARA Swisher. Why did I say holidays got Galloway because we're here in the great state of Texas. Yep. And what are we what are we at? We are at the we're in the deep end of vox deepened talking to friends here in the south and hanging at south by south west. So this week we decided to do pivot live in front of the audience here at the vox media house. It's out by south west we recorded in front of an audience and took some questions glisten. Very citing is our first live pivots. Or are you drunk? It's a key aspect to. Okay. All right, Scott. So we're gonna we usually do our regular pivot. We're usually far away from each other. You'll be real selective right now. It's coming on what's going on. Okay. All right. Why I am who I am. Okay. All right. We. We usually it won't take long. We usually do this from faraway, usually. This is the third or fourth time we've been together to lie. Exactly. And we have a lot to talk about. We have a lot of things to talk about. And we're gonna do a regular show. We've already taped the beginnings and endings of thanking everybody in the hi CARA Swisher, kind of stuff, and he's Scott Galloway. And so we're going to talk about a range of things that are happening here at south by southwest. And then we'll take questions from the audience which were also getting clued in the podcast. So please think of good questions for us. Whatever you want to ask us about whatever topic in tech and media, I think we really do have to start with Elizabeth warrants proposal to kill all tests. So I think what you're trying to say as you're just very excited to see me. Yes. I am. Okay. So Senator Warren, I think most of you have seen. She's come out with she's the first candidate to sort of articulate what she means by breaking up big tech. And it was really a gangster move because it was a ninja move whatever you wanna call it. Because a she's got a ton of traction because she's the first candidate that's gone beyond saying tech has too much influence, and we need to look into that. She's actually articulated she's adopting sort of the Indian model the Indian government has decided that if you own the rails, you can't compete with the company if your platform, you can't be in the business, which makes a lot of sense. And she said that Facebook should spend what's up and Instagram and that Google should spend double click, which would be enormously damaging also didn't stop with them. She said apple should spin off the app store. Also is that right? Yes. She did. Also, add a lot of these these these groupings together she wants to break up. Lately. So in addition, it has the luxury of being the right thing. But in addition to that in terms of her ability, I think it's semester as the intellectual leader of the Democratic Party. Also believe is somebody who probably joins the majority of people in this audience would like to see a change in the White House. It is really where the Democrats should focus because if they're key issue is breaking up big tech in order to oxygenates the market in order to double down on capitalism. In order to reinvest in America in order to say we are about competition. We are about oxygenating the middle class as opposed to as opposed to having our lead. If you will in the story around white Democrats will take back the White House being the new green deal, regardless of what you think of it distinctive. What you think is the right thing to do the way we get elected or the way we retake the White House a gangster move from an actual gangster is to focus on capitalism, and that is capitalism works. We just need to double down. On it. And the key to capitalism is it was the rule of thera play. Let me was I going on way too long. That's all right. I'm used to it. So. I agree with you on some of the things she was saying, this is the most over bring she did in much more. I need to look into it way. She she had more of I need to study it. I said, do you think these should be broken up? She did say when I asked directly I just interviewed Amy klobuchar Senator from Minnesota has also run for president. She was a prosecutor. She's obviously going to be less. She's just I'm going to study it I'm going to investigate it. And then we'll decide it's basically. But when I said, do you trust big tech? She said, no, she did very she didn't say well on one hand on the other. Would I think is interesting things about Elizabeth Warren? I agree. She's she's come out with the most the star the starkest proposal, so far she also freebie ously had done the billionaire taxing thing, which is a book to book ends to this is we're going to tax them and also big tech. And a lot of the billionaires happen to be big tech people. So she's not obviously the favorite candidate of Silicon Valley right now. And what I said to what I think they saw the the war in proposal. I was saying they vomited in their all birds. But and then someone's Simtek persons like, we don't know where all sorts, and I was like you. Whatever you know, what I'm saying. You're all awful people in the way, you dress is important. So is it what was interesting about two things. I had her at code a couple of years ago, and we get feedback stuff from the audience, and it literally was the worst feedback. I've ever gotten largely on her tone the way, she talk to them. I'd never gotten so much to someone that was so like, I hate her. She's the worst. I don't want to hear from her. And she was articulating a lot of these ideas is the jigs up boys. Essentially, we're going to start testing you. We're gonna start this. And they of course, the argument was you're going to kill innovation. You're going to kill everything that is good. And all the goodness we have done. So how do you when they come back with that ideas, you're gonna you're gonna get China's going to take over you're trying to ruin us. China's just going to be ascended, and they have terrible values compared to us. How how does she can answer that? So I I think where we lose the scrip. To lose. The argument is the note when you start using words like terms like seventy percent if I were the Republican party. I would just wanna add saying seventy percent is this what you want with the Democrats because that's what AFC and some other people have proposed in terms of the super tax. And I think the byline needs to be we don't want to raise taxes, we want enforce them sort of equity around taxes Amazon. Walmart's paid sixty billion dollars in taxes since two thousand and eight WalMart's paid one point four billion in Europe, Google has paid more in fines than they have paid taxes. So it capital gains tax, the two largest academicians in America are capital gains taxes when you sell assets and then mortgage tax deduction. Let's talk about each of those who owns assets and stocks the top one percent own eighty percent of the stocks young people get all their income from current income. And for some reason we decided in America that the money. That's sweat makes is less honorable than the money. The money makes so our current tax structure is nothing but a transfer of wealth from the young and middle. Class old rich people who own homes and own stocks. So we don't need to raise tax rates. We need to go back to Reagan. And that is any money you make whether it's from capital gains. And let me be clear do as I say not as I do. I'm an entrepreneur I so my business two years ago. Do you realize the first ten million dollars and a capital gain? When an entrepreneur sells his or her business tax free. That's ridiculous. Why that is ridiculous at do. You realize last year Amazon again paid no taxes. So we have those taxes them where we institutionalized regressive corporate tax. Meaning that if the world's most successful companies don't pay any taxes, the less successful companies have to pay taxes, and we have this weird system tax system where it goes like this. It's progressive until you hit the ninety nine percent, and then your taxes plummet. So the people who actually get screwed people people simplified. It's a nuanced argument are probably the people in this room. And that is a few make say between eighty grand and five hundred grand a year. What I call a workhorse in the majority of your income comes from a Kern current com utes pay between thirty percent and Texas or Florida and about fifty percent in New Jersey, Connecticut, or New York, you're paying a much higher tax rate. It's not. So you make the jump two light speed and become a multimillionaire that your taxes go down. I'm sorry. Okay. All right. So you didn't get text very much. That's the message there. Pretty much pretty much. And by the way, let's be on us. I'm not going to disarm unilaterally. And so we're not so in most wealthy people are not equities was bought yourself, a congressman more. Yeah. Okay. All right. So regardless this happening. These are the messages are coming from the key candidates. And of course, I think Warren is the candidate with the most volt the boldest ideas, and she's setting the tone. We were just talking about this idea, which is like her very much like how much success is this going to have because one thing coach did talk about is antitrust. And I think that's her area of expertise. She's happens to be on that committee and the government and that obviously we talked last week about Alina Kahn joining the subcommittee, how likely is going the three days ago actually Clova char proposed that the FTC relook at the Google your investigation, which I think most people agree. They got off Scot free. In this country. Meanwhile, Margaret vestigal interview tomorrow, slam them, you know, the US government decided it wasn't an issue even though yelp and others had testified sh- clovinger wanted to reopen that investigation which didn't get a lot of attention. How successful are any of these efforts going to be sure I think that's where we're winter's coming. I think we're we're setting up for the mother of all battles because. The big tech has learned from the sense of the father bomber and gates decided we're above all that. And they didn't invest in Washington and the DOJ knocked on their door fairly early. So Google the fastest growing expense line at all of these firms is not human capital, it's not artificial intelligence. It's lobbying. They're smart. They figured out. The Washington is pretty much paid for play. It's sin citizens United. It's you can pretty much by your way out of stuff in Washington, and they'd figure that out. So when there's ninety seven to one in the Senate, an anti sex trafficking act Qassams. So we haven't had any sort of bipartisan legislation like that. And the last ten years, do you think? Okay. That makes sense and then back page remember them, they got closed down. There is now an entity fighting that ruling and taking it to the supreme court a lot of money a lot of experts and that entity is a front for Google who is decided the Communications Decency Act section two thirty who's decided that any threat that inhibits any platform might be a threat to Google so Amazon has eight full time lobbyists in DC eight fulltime, very well paid very smart people showing up and every congressmen and senators office and saying you're the with us you're against us. And if you're with us, I. It you re elected because let's be honest. This is all about the Benjamins and you need money to get reelected. So we're waging we are gearing up for the mother of all battles. But let's be clear. In all of us. I generally believe this. We cameras on ourselves say, you know, it's it's too much. It's they're gonna they're gonna do it. They're going to do the world isn't the world. We live in the world is the world we make of it. We can absolutely sit break these guys that is going to happen realistically, realistically. There will be legislation maybe some antitrust rotation. But and maybe they can't buy stuff anymore. You're up to you, imagine them. I mean, the reason I think Mark Zuckerberg. I wrote a story that's in the today the print edition of times published the other day, which was he did it for a lot of reasons data that he wants to fully steel stamp jets ideas completely after shoplifting. Most of the good ideas over there. But what what I think the reason he put it together and Machar did reference this. So you can't pull them apart so easily he's putting together WhatsApp Instagram and Facebook and on the properties and the seventeen people who use Oculus. He's doing it to keep them together. So that they're in they're hard to pull apart or stick was they should have gone porn anyways. Struggle back on antitrust. The gangster antitrust guy was teddy Roosevelt. A Republican basically today. You're basically turned on the people who elected in the railroads and said, I love you. But I got a break you up when AT and T when they proposed breaking up AT and T they said, well, you need one big capital player to make the requisite investments. If you break us up NTT from Japan is coming with us because everyone was worried about the tra- pan taking over and doing to a second omically where they couldn't do us to us militarily. And now you hear the same thing. This is a narrative you're gonna hear from big tech the Chinese and their AI warriors are coming for us. You need big people every time we broken companies up shareholders employs middle-class innovation when we broke up AT and T we literally unlocked thirty years of stakeholder value mobile analytics, optics, fiber. It was all sitting. It was all sitting dormant anti-trust was one of the few government actions that kind of always works. It's hard to go back and say when did it not work? Well, this is the second part, Microsoft, it was another break up the monopoly thing it did bring broaden ushered in Google funderburk. Sent if the DOJ hadn't shown up and said stop killing comes. The crib. Like he did with Netscape. We'd all be saying. Hey, everybody. I don't know. Do you think Google dealing do? You think? Do you think Microsoft wouldn't have used its economic and bundling power to kill Google in the crib yet? But they did it. And so now seventy five thousand high paying jobs seven hundred fifty billion dollars the object of Oliver affection because of government interaction antitrust is in socialist. It's fucking games through its capitalist. That's the we are doubled down on capitalism. Dish hitler's. Thank you for that amazing rant. I was on stage with bomber and he introduced being one of our conferences. And he actually said it like that. Always an awkward God. Yeah. It was bad. It was especially from him. Because he was like, you know, he stood up and yelled it didn't work developers. It was like developed, but that was so good. That was barely. So. So again, the trust is probably the way this is going to go down. But who's going? I who's going to get is it Amazon is Google is. I'm going to go with Google. Why do you think it's scruple? What what gets broken up? I think they pull apart the advertising from search. Maybe something like that. Because I think they have the most history of being investigated. I think they've got they've got a it's hard to end with Facebook. I suppose Snapchat will have to turn on them in some way, improve you'd have to use Snapchat is the Netscape of that. Because in this latest round with Mark we've been talking about it with Mark proposed? It's literally Sam Chet. He's like private messaging is really important and pope public hosting is not as good, and I'm like what it's called Snapchat. Right. Like, I'm pretty sure that's a so he's going right for their. If you were more, honest recall, the next version of Instagram, Snapchat, right? Right. I always say Evan Spiegel is Facebook's chief product officer. But speaking of of antitrust and Facebook and snap. So I don't know if you saw that T mobile and sprint are threatening. I've said we want to merge to create a third competitor. And the DOJ and attorneys general in Florida, Tennessee and New York of said, we've got to look into this. This is a threat the total user base combined. Sprint and T mobile is one hundred thirty million people integrating across one communications platform, Facebook, Instagram and messenger is two point seven billion people. So one of two things that's happening. Either the call to restrain the merger of T mobile and sprint is insane. Or we should have been looking about this crazy notion that one man who's a college dropout who started his career with a website evaluating women on their physical appearance is in my view of broken sociopath. We're going to give him and cannot be removed from his job. The way cannot be fired cannot be booted out of office cannot be disinfected and billionaires never go to jail. So he will be around. We are going to put him in charge of the communications backbone of a population greater than the sum, some the southern hemisphere, but no, no don't let T mobile and sprint merge. Broken socio fair. That's kind right? I mean, seriously, I wrote about this in my view, my I wrote I have read this in my blog today. I had I had an individual a word last week go out with me and start start got so upset with me this person started crying because I had really let her down and I'm getting emotional. It's totally fucked with me, I couldn't sleep the next day. I felt you know, when you feel a little the press your feet or hollow. And you just feel a little light and insecure and like you're gonna faint at like the wind could blow you over. Here are these people you don't know that. Okay. I know that. Hold me. Hold me anyways. Anyways. And here people are like oh, the Miami. The Miami Marie is military is using our platform to incense genocide. Oh, a guy an innocent guy was pulled out of a car in India and hang because of a rumor, that's Fred on WhatsApp. And we could have limited the number of. I mean, how the fuck are these people get up in the morning? I think it is. I truly admire this about them. I would be a walking set of insecure Dzhambul nerves have any two individuals done more damage while making more money than March, DACA Berg, or Sheryl Sandberg in the history of mankind. You know, I asked him about this. And we wouldn't answer, you know, I had the blog with him. And I asked him six times about this. I said, how do you feel about kind of you know, I said, no, he did not say, I feel fine. He wouldn't answer it. So I said how do you feel about what happened in Myanmar India? And he goes, you know, what I liked CARA fixing things that are broken. And I was like, okay. But you broke them. So how how did how did that happen? How did you break? He goes I like to look at the future. I like to lean into the future and figure out solutions. I'm a solutions based guy that was like I got that part. But you broke it. So I'd like to know how you broke it. And then we can figure out how to fix it. And he goes together, we should all try to fix it. I said, yeah. But I didn't break it, you broke it like you. I know it went on like that. It was kind of is like talking to like one of my teams like you made the mess of the room smoking pot, or whatever the hell topic is of the week at my house. And and and so he literally wouldn't do it in six times. He finally did get frustrated goes. Well, what do you want me to say? And I send you might start with. I feel terrible. And then we can go from there like. Better young. We're proud of the progress. We've made and care what kind of internet. Do we? I want it off walk. Only about an internet that doesn't oppress our tunes about an internet that doesn't count allies genocide. How about an internet that doesn't hollow out the middle class? Let's start with those euros. I'm down with that. Okay. Thank you, you running from president that everyone else who I know. That's true. I just literally had that conversation of we're that what you just said at the beginning of that. I literally just just had that conversation with someone rather prominent on that we're working as hard as we can. And we know that we made mistakes dude as much as we can all right time to take a quick break. We'll be right back from our live show in Austin, Texas. On understands that you're running routine is deeply personal. That's why their shoes aren't out to correct your stride. But to support your run with high-tech. Adaptive cushioning was soles that make you feel like you're running on clouds. It's no wonder that they're the fastest growing running brand in the world. Head to on dash running dot com slash pivot to try their shoes commitment free for thirty days. Go ahead running them, get them dirty. And if you're not convinced than send them back again, that's oh. En dash running dot com slash pivot. Today's show is brought to you by HBO, Elizabeth homes found theranos at age nineteen. She was described as a genius a twenty-first-century Thomas Edison and the next Steve Jobs a woman who would change healthcare forever. She secured over seven hundred million dollars from high profile investors, and at one point she was the world's youngest self made female billionaire fifteen years after theranos began it shut its doors, and now homes faces criminal charges for massive. Fraud investigations by the FDA, an F B I revealed that her technology, not only didn't work, but was risking patient's lives. Where was the line between the truth and the lies is Elizabeth homes genius a con artist? Or maybe some of both follow the rise and fall of homes, her culture of secrecy and our companies massive scale medical fraud in the inventor out for blood in Silicon Valley a documentary by the Academy Award winning director, Alex Gibney, see it when it premieres Monday March eighteenth on HBO. Welcome back to pivot listeners. Now back to our live show at south by south west from Austin, Texas. I we're going to move onto one thinks we're going to have questioned the audience wins. And fails this week. What are your what are your wins? And fails I'm going to do one. I just didn't even Kathy Griffin. I recommend that you watch that. It was an astonishing interview about what happened to her after she put up the photo of Donald Trump where she was holding his head to which was may some people the worst. You could say it's a tasteless joke. She was investigated. But she's a comic they do them all the time. Right. She was she's on the no fly list. She was investigated by the Justice department and hasn't been able to make a living. She was utterly cancelled by the internet. She's been stocked by Nazi in stock. But it was an incredibly fascinating conversation. And it's shifted her viewpoint, and what kind of comic she is. She's like I used to be able to talk about desperate housewives and make fun of them. And now she's talking about politics and things like that incredibly funny. I think this is she's trying. She's not no one will will run this amazing documentary that she's made which I love it's a great. It's a great documentary, and none of the people in Hollywood will touch it right now. But it was it was I was super surprised because most people think of her in a certain way, she really is talking about these issues of cancelling people. Because of something in how the Trump right wing thing went into full full gear, and sort of just ruined. That we have become we created this environment where we have this Gacek culture where you get virtually points for being offended, and it's very easy to be offended. And the moment, you're offended. You're right. And so there's a certain status in being upset indignant around. What people say I think, especially with comedians comedians should be a protected class. I think they should allow to be vulgar, say inappropriate things and realize when Lenny Bruce have really inappropriate things was arrested these people ended up being cultural. Yeah. Well, he was by police departments not targeted by the left are the first to get very indignant or angry and at anything. So when someone says something about the right? They hold us accountable and say, you know, what Kathy Griffin shouldn't be doing that. So my sense is we have to your beliefs are Alex trebek's who's dying? I don't know why I'm just like a huge fan of Alexander back. And I started reading about him, and he's had this. Great quote. He said don't tell me what you believe I'm going to observe your behavior. And I'll make a decision around what you believe and we spend so much time getting angry at other people and being indignant just like thinking just in after sweating at some point. I'm going to say something stupid and fuck up on this show. And my career is going to be over. I literally think there's a ten percent chance anytime, I'm onstage about end at all. And and the reality is if we don't be a little bit more generous with people. And so yeah, it was a stupid thing to say call them out. And then move on not call for them to be fired not have petitions that they should be able to perform then the right is going to hold us to the same standards. So we all need to. I think we need to move out of this. Well in her case, though, she got death threats, and they were stonning death threat. And Andrew definitely that. She got like mailbags full of death threats, and what was fascinating. Because now she's best friends with the FBI because they bring her all the threats and stuff like that. And she loves the FBI. But she's said man, this is Kathy Griffin. But Samantha b also had had had a some we were walking in New York. And there was someone Vong said who is that? Usually, that's my security because of one errant feckless. We know what the word checklist. So she called she called a market concern. Well, I if I were bred we also, right? You're a straight white guy never ever ever Seda in case. I don't think you have to say it anytime recently. That's okay. That's beside the point the point. I was making. She's she's what was fascinating she got a lot of she decided Trump people like stamps, and so they sent her a lot of letters and a lot of them put their return address with these death threats. And so the Trinidad sensations. Yes, exactly says she would give it to the FBI and they're like, oh, we'll look into this. She goes, well, the return address is right there. And they're like, oh, okay. This'll take three minutes. Okay. It was it was kind of an odd thing are your win win when fail. I think. So. I think Senator Warren, I don't I personally, unfortunately, don't think that. Progressive from a blue state can take the election. I think we're going to need someone from Colorado. I think I think it's going to be difficult for someone who is seen as very liberal to win Pennsylvania, and Colorado and Florida state's we need. But I think Senator Warren's actually putting some meat on the bones me on the planet. I think that's the win. And I think she's identified herself as the intellectual the intellectual leader of. Of the Democratic Party. But I want to go back to the media tax because we you and I haven't talked about this. But do you realize the right, specifically news corps? There's a very dangerous thing going on right now. And I think it happened to Samantha b I think it happened to cash ribbon. And I think it's happened to you a little bit. And that is emerging progressive powerful female voices come under a coordinated attack from media on the right? There was a there was a I don't want even dignify the story. But there was there was a story about a media executive progressive emerging female voice, and there was a coordinated attack against her from the Wall Street Journal, the New York Post, and and FOX, and it's no accident. It was all three of them. So there is what I would call. And I I was trying to think does the left do that do progressive. Do they all coordinate and go after emerging Republican quite so I nice. It's really it's Jimmy. It's only Tucker fucking Carlson. I mean. Such a douche. Seri- I've been on Tucker Carlson. I know you love him. Would it? Stop. Very good looking. I think he's the guy that everyone. I just think he's got a bow tie kinda I would make out with Tucker. He knew what I always said about him. He's the guy I dated before it became a lesbian anyway. Instead of move me row. Yeah. Okay. For sure. Over the right over the edge. I mean. Ten miles into the boards about it. But now, I'm sure. Now, I'm sure I've also found that I think it's fun to objectify people. And I find as long as I object to finan-, I'm fine. Okay. But I don't agree with you. I had I had some wrangling with News Corp and their tactics. Just with Walton? I I've gone. I haven't gone into them in detail. But it was an someone warned me. So very high ranking News Corp executive when we were leaving. They said they're going to come and get you. And I was like how ridiculous we're so small, and they did so many dirty sneaky tactics. It was really it was riveting, but could we start? I think there should I don't the classes. But I think it's important comedians or given the cloud cover to say an appropriate thing. Okay. I think it's important. Journalists have a certain code that. We're out there trying to protect journalists job is to protect the govern not to protect the governors, and in order to do that you have to give them a little bit of license and credibility, and there was a whole industry set up to make a lot of people on the right? Just look stupid every day. And so now they've adopted that industry, and they go after coordinated tax people on the left, and I. The media has been the most effective FBI not to carry guns and badges and the history of mankind and when too much of their energy is spent going after each other. I just think it's then we need more reverence. What I'll call the media in the journalists, and I've sort of loosely include you in that care fish. Anyways. I don't know where we're going. All right. So predictions very quickly and then questions from the audience. We just have fifteen minutes up prediction sort of this year. The test laps implodes. The and I've just been reading about all the people in accounting finance? I've run companies big companies, but I've run small medium sized companies. And it's really true. This isn't a platitude the team of the best players wins. And if you look at how many people are leaving that company. I mean at some point there's no one even drive the damn cars off the assembly line. So I think this is the in addition to key the key to a successful, Kita, Google and Facebook was a genius and their technology talent. But it was also the fact that the media industry had been raising prices faster than inflation while viewership went down. So kademi awards commercial thirty seconds spot thirty years ago to reach fifty five million people was a quarter of a million dollars to reach twenty five million people three million. So they set themselves up for disruption and came these fists stone called Facebook and Google. The auto industry is not ripe for disruption. Cars are amazing. They're better than the less expensive than they were. So a combination of a robust industry and individual who the. Key to a manager. Really the key at some point is you're just all about pretension. It's all about figuring out. How you keep people in your company, which is failing. Okay. What did you say though? He's moved forward. The idea of the self driving car and stuff, but he has been the source of the question is tesla gonna fail or will tesla change the world for the better the answer is yes, okay. For both of them. All right. I okay. All right. I'm going to predict I last week last week. I had the I was at lesbian tech which was. Lesbian suit tech yellow W twos. That hot ticket. It is a hot ticket. It is a it's a great. It's actually it's up in the Castro theatre. It's a thousand screaming geek lesbians. It's fantastic. It's wonderful. It's great. Anyway, I've interviewed Mark off there. I've been Sheryl Sandberg. They all like the audience and stuff like that. And this year, I did Susan would just interviewed her and also Lorraine Powell, and she I'm going to predict this because she said it out loud that she will be buying some more big media properties. She said that she's open open. I don't know. I don't know. I think she's looking for some big, you know, big even bigger investments than she's made in the Atlantic. Another mark. Time that's the weakest flex in the world, isn't it? I mean, do do it any good midlife crisis guy does. And by the Mavericks. I mean, but I mean, buying time is gonna get you to the med ball or gets David Carley Kloss. I don't think. So if you're going to have a midlife crisis. Do it right, right? What do you think she should buy? I don't know. What's loved what what are some great media properties? That are a lot of and see I don't know. You know, the the times won't be sold. Washington post. It's been purchased. I I was sincere. My question. I don't know a big investment in something I've been trying to get her to get a billion dollars to New York Times York media. I think New York magazine does a fantastic job. Yeah. Conde nast will begin selling it. So they are rumors of New York magazine getting invested by Williams. She could she could do that. That's right. There's some great Conde nast properties. At some point the new houses will get sick of the shit show. That's been Conde nast for the last twenty years can years start selling iconic properties. They're befuddling Vanity Fair. Right. Right. I don't know. All right. That'd be but she's invested in the Atlanta Atlantic pup magazine and several several others smaller ones. She's been doing a lot. Yeah. Yeah. All right. So questions from the audience. We would like some great ones let's start here. And then go here and then in the back. This is a question for Scott. Can you stand up and identify? My name is Mark I worked for John. This is a question for Scott how dear? By the way. I just want to be clear loved prime Amazon. And I'm Sarah. So Amazon is the biggest recruiter out of my class. One hundred ninety kids seventeen we'll go to Amazon this year. I was run over by the recession economically in two thousand eight I took with little money. I had left and I divided between apple and Amazon restored economic security. My household I love Amazon, I just think you're bad for the planet and Batra society. All right. Then have you spoken with Jeff have I with you could if I what would you tell him? What should he do to if he was to be broken up? What would I tell them? I I've never put your finger on a picture on your phone. Give me a fucking great. Let me get this super supposedly literally literally the brightest minded technologies, sending out pictures of his junk. I mean, I've done some really stupid fucking bank's never have all I'm going to pick a big EDNA twins. It's literally it's literally never crossed my mom winter. There's the winter. Never just had that moment on that. Okay. My advice. My advice would be on a business level. I don't know. The man would be spin AWS. I think AWS on this, and it would prophylactically protect from anti-trust and on the spin. It would be one of the ten most valuable company world. I don't have any vice him as a person. I don't I don't know him. I'm so I don't, but I am AWS. I did any gasoline. He was sort of pushing down that idea to me pretty pretty clearly say everyone, I talked to says absolutely no, no way. That's Eddie set it on stage. Danny. Was I think eighteen years old? I can't see your reaction. So I don't know if you'd like this don't like this. I did see your silhouette. I think I think one of the things we'll get to the next question. I think one of the things about Jeff who I who. I did use to talk to a lot is he's much more stubborn, and he seems like a laughing friendly guy. He's a tough customer. And I think he doesn't listen to very about a win of the year. Best Hamill PR crisis. Probably Johnson Johnson. He did a great job turning around and showing courage around that, and he really I mean, this is mother of alternative chicken shit at a chicken salad and a lot of it. Because there was this reservoir goodwill from every journalist because he's largely seen as someone who turn around. This national treasure the Washington. Yeah. That's not why I think he just did a good job. I think that's that was very much like him. That was a lot like what he would do. Like fuck you like that. I can even if even if it wasn't the world's richest man that's kind of his own. I don't know. He's should spend off eight of. Yeah. And go on talk to every journalist like myself. My name is extra. I live in San Marcus acts are ex-. Okay. By the way. Are you literally threes in my next life coming back as you look? Quick six minutes. Did this guy? The name x are out here. Dude. I have your looks my rap. We're the junior bucket Senator from Pennsylvania. Okay. All right. Blah, blah, blah. That's. I'm a reporter for a small paper in county which is south of Boston. I'm not here for work. But because I love listening Chowdhury Friday. But we'll say the big news of the week was marked circuit Burks blockposts. Yeah. When it comes to private communication about Instagram Facebook messenger. What's up what's up when faced body already had intended Christian? But my biggest thing is someone who uses all threes. I don't know if I trust Facebook. When you don't you don't. I don't trust Facebook with enter ending krypton when it comes to the other platforms. Now, I know y'all been very critical, but given their track record and Mark Zadran were his his rhetoric his speech about ending criminal with his other platforms. Do you trust that his company can provide that on the other platforms besides conquer at Bursa? No. Thanks. So I'm gonna bum. Everybody out. I was just in Africa. And I went to the genocide museum. And so as a species, we're really good genocide. We like to think it happened once in the middle of the twentieth century. And then we learned and we got over. It keeps happening keeps happening literally one hundred days in Rwanda. They killed a million people stayed the wonderful thing about this memorial is that they also revisit all the different genocides for our media Abbasi Hercegovina, and the one thing that's come that, you have in common with all genocides is you have a centralized media that someone takes control of centralized media is bad bad. And the idea I'm not I'm not saying anything negative in. This instance, about marker Cheryl no-one individual organization should control two point seven billion private Glenn injuries. Say is it's very hard for individual people to run it's gotten beyond them in a way that is so far beyond that. It's really a little frightening. Years ago. I was talking to one of the founders of Google like usually couldn't tell them apart. And and I said I said they were I think I wrote something when they were trying to take over. Yahoo search, and I wrote a piece saying I the line I wrote which is a little not nice at least Microsoft knew they were thugs and that was tough. And and I was saying that Google thugs essentially, and they call them all hurt. And like so so mean care, which I get a lot. And and I said, we're nice people. We're nice people. We're trying our best. That's what they tend to do. And I said they said, that's fine. But I have been a student of the holocaust the germinal because and and I said, I don't know we're nice people. We have good intentions, and I said, I just wonder if someone like Hitler gotten a hold of a power like this. What would happen? I said I think about that all the time. And of course, they were like, whoa. That's not going to happen. I'm like, how do you know? Like, it was it was the centralization power among. A small group of people is frightening. And it's something that we have to think about so they're they've proven themselves time and again to not care about your data. They since the very beginning. And they continue to do it. And then apologize for it. And if it happened once maybe twice it happened. It's happened dozen times and it continues to happen. And so at some point you have to say, they're either willfully ignorant of what they're doing or they're they're just doing it. They don't care, and I think it's not inbred in that company to care about your data. I just I think there's a lot of nice people there, and they're lovely. And when they give you the hangdog look of victims Bill when billionaires act like victims, you just you know, it's just stop it. Stop. It started lovely or think about what is the most important processes in the world is a solar plane. The sun source of all life is at the moment of conception to create so much controversy. I would argue that perhaps the most porn process in our species is one intention becomes action. When you're thinking something. And you're angry or your prostate? You're happy or and then how does that translate to actual actions? And right now, the company that decides ninety three percent of the time three billion times a day when people are trying to figure out how intention is going to become action. When people go on and say, how do I over throw my government? That's an intention is the recommended action a voter registration form or instructions on how to build a dirty bomb and one company decides ninety three percent of the time how your intention to translate to action, and I'm not saying, they're evil. But should we have avoided entity deciding that face, right? It's facetime. It's Facebook and Google together. Goba Google search has its own unique intention and back antitrust split up YouTube because in the first corporate strategy strategy meeting of YouTube, they're all trying to get their own jets. How are we going to grow? This thin simple. Let's start doing tech space search results, and then Google says, you know, let's get into video. And then we have competitor. Competition is just a wonderful thing for diversity of new point. And what about my raise our hand into go. And you know, what in order to get a and g and care. Switch on our side. We're going to be thoughtful safe ones that will never ever have controversial content next to kids searches. We just won't do it. We will make sure we'll spend billions of dollars making sure and intelligence of a foreign government. Can't weaponize our data. Someone will do it right now. PNG CARA Swisher. We have no choice. You have no choice think that it took them. So long to do. This thing is just the comments anyone. It's just you. They're not thinking about it. And because one of the things we talked about recently was proximity. They they aren't feeling unsafe. These people don't feel unsafe. They've never been attacked and one of the big Twitter. What are the big Twitter executives was attacked a couple years ago on Twitter and said a hope that was hard? And it was like welcome to the world of women people of color, gay people people marginalized because that's what they get every day on your shitty platform. And so you know, what I'm. I like it was you know, some of us can take it. You know, some of us can take it, but other shouldn't have to. So it's not that we want to baby people any less last question the back right there right over here. The recycling amber, I'm professor of digital advertising. SMU kind to me off your book is textbook. Scott, scott. He has a new book coming out called the what does it go algorithm? Algebra snacks. It's clear. You haven't read it. Now. I have. The algorithm of happiness. We're going to do a whole Rico decode on and I'll read it before that probably not the algebra. I will read it. You need to start up fasting in this relationship. All right. Go ahead. The aggressive rhetoric against tech by the democratic candidates. We'll just signal to tech to funnel money to the Republicans out of self preservation could question. Thank you, amber. That's an excellent question. I don't know. So I I don't think there's so much controversy. I wrote an article in Esquire talking about the size of big tech. And I heard from the same day Senator Warren and Senator cruises office. And I thought this really is bipartisan issue, they all hate tack. They hate them for different for different reasons in the thing that people have to realize about tack on the right? They say that will their bias against conservative voices. And I think we've talked about this. We know these guys when they come into work, they'd only left they don't lean down. They only left it only. Right. They lean down. They would they they are all about the Benjamins. They don't care it's far, right or far left content. So the notion that they're being biased, but I don't see money being funneling attack is geographies important the majority of taxes on San Francisco, which was crazily left. So I still think you're gonna see they're not as left as you think there. I think you'll live there. I don't know they're more libertarian light this kind of libertarian. They're not even smart about it. I'm socially liberal. It's like, it's. So it doesn't make any sense talk to them large largely because nobody nobody's taking the humanities course in their life. But but very job when we start when we smoothly stuck when we when we replaced in high schools civics courses with CS courses, you get Mark soccer. Okay. But one of the things I think they I think they will not I think they will not I think they'll sit it out like they think they did sit it out in the Clinton. They didn't give her a lot of money, but they obviously not going to fund Trump. There's no way a lot target executives are getting pretty hop. And a lot of getting involved in trying. Yes, they will some of them will we'll we'll put a lot of money towards it some of them will. But some of them will. I think sit out is what you're going to see a little bit more. And and you know, you're not gonna see Cheryl Sam refunding a Republican ever. I don't think that is going to you're going to see that happening or or or some of the others. So I doubt that what I what I what I think is that they are. I don't think they know where they belong. But what's interesting? There was a great story than your times this week about all the IPO's coming. There's going to be a lot more millionaires and billionaires coming and some of the new ones are quite kindly apparently. But but I'm thinking about Airbnb pinchers Uber, and let's see Airbnb is most certainly leaning left like Brian chess ski, and he's been very thoughtful about him tomorrow. So there's more money coming from not necessarily those companies from other places. I think the Uber executives might be more seventy percent of the senators elected by Rudd states. Because a lot of the smaller states that people don't want to live in get two senators, and because they don't have the economic opportunity to lead to leave. You're going to see this enormous woke as a business strategy, which leads into the most money is I think had to go to Democrats this time because it show me all the two-thirds the economic growth is moving to ten cities in the US. And it's scary. But show me someone is an urban dweller showing someone who lives in a same sex households headed by same sex couple show. Me college grads show me women who are increasingly economically independent. I'm going to show you democrat. So you're gonna see in the corporate world all of these companies discovering their new Wilk values. They're all gonna decide they want to they want to support capper, Nick, I all going to not not all of them. But you're about to see corporate America get in touch with its woke side as nothing to do with their principles. It's just the right thing. But go ahead. Whatever he would keep going keep going. Anyway, they're more progressive Bill. Probably you're going to be progressive with theme allows lesbians who conference. What was that Taffer sent that was rolling? Okay. Maybe that's the last time. We heard from. US cute. If it's from last let's beans are so far beyond y'all. It's not even funny. You were interviewing the cast was supposed to interview the cast. Our how many people here would like me to interview the cast of the l word. Said a lot of question. I have said no one never. I'm not even letting you near Jennifer beals. I'm just going to tell you that. Right. Be okay. Stop. And on that note. Thank you very much. Thank you. Thank you very much. We'll be doing. We'll be doing more of these live shows a lot because obviously. Hello. But thank you so much for coming, and please listen to pivot and tell your friends about thank you. All right, everyone this with our first pivot in front of a live audience at south by south west. We'll be back next week in the studio Rebecca synonymous produces show. Nishad Kirwa is the executive producer. Thanks also to Eric Johnson. Thanks to all the extra south by south west production crew. Thanks. You're listening to pivot from vox media. We'll be back next week for more of a breakdown in all things tech and business. If you like what you heard please subscribe on apple podcast or wherever you're listening. Hi, this is Karen Swisher editor at large Recode. I want to tell you about something, my friend, Casey Newton is working on as you probably know Casey is the Silicon Valley editor of the verge, and he has a fantastic newsletter that you should subscribe to. And it's just a really smart witty look into the cultural reckoning over tech platforms and the way they're affecting everything we do.

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Ep. #558: Annabelle Gurwitch, Scott Galloway, Larry Wilmore

Real Time with Bill Maher

56:36 min | Last month

Ep. #558: Annabelle Gurwitch, Scott Galloway, Larry Wilmore

"Welcome to an. Hbo podcast from the hbo layton series real time with bill maher vermont. So are you recovering near the end of the terrible. I feel and i feel thank you. Yeah i could see. I always i always say i know why you're happy but i feel the actual happy to that. I his biggest well. President biden made us speechless. Did you watch speech. He said By may first vaccines everybody and he says july fourth we look like we'll be back to normalcy. Wow that's yes. I mean it's been a while and also looks like the schools will begin reopening. I know that means a lot to a lot of people. Young teachers around the country already practicing crying in their car in the morning so and also they passed the big relief. Bill stimulus checks guy. Needs it tomorrow. They're going out like going out. Reparations are being stuck with your family. That's what i all other republicans. Every single one of them voted against the house and the senate all every one of them of course now there's benefits already taking credit for the benefits that are coming like that guy the office. Forget your birthday and then somebody gives you a gift and he goes. That's from all of us both so this week. We finally got some clarity on the most pressing issue of our time. Did megan make kate cry or kate make make an cry. Tell me now. So i know we're not talking do at lunch this. I've never understood this fixation with the royal family but boy this week you're talking about it We you can't avoid it. Oprah did a big interview. Harry and meghan on cbs Which makes sense. Because when i turned it on boy did i. C b s You can you can hate the racism but not loved them for everything else i mean. Megan did claim that before dating harry. She'd she'd never googled him and she said she didn't know much about the royal family on the first three days. She thought it was ed sheeran. That's how much she didn't. I'm making you fill your television show for years in toronto. Every time you bought a market chino us coins with your law's face on it. I think but of course. The big bombshell not that. It's not a big bombshell that horrible. Racism it is terrible in the royal family. And i'm sure it was very painful and members of the royal hierarchy. She said We're actually asking her when she was pregnant. How dark the baby's skin would be and the queen said it problematic. She said this is why. We've always discouraged sex outside the family. That i'm who else. Who else is on the shitless. This week old biden's dog major major fuck up. He's back in delaware. He's like mon malania left. She spent the first six months of new york. It's just a common thing now but Biden's dog bit somebody in the secret services. This is the first biting incident. They can remember that they did once. Have to pull lindsey graham off trump's leg ally but i'm so glad you're in a good mood are corona versity. It was almost exactly a year ago that we did our last show here. And you'll remember what happened then and so we have a lot of interesting stats now about what happened during the last year. People's weight is up drinking more mental health issues and less sex a condition previously known as marriage. I can i go. This thought that this was an interesting. Also men have development inflated sense of how often step mom's have sex with their steps. I think pornhub fans know what that means but it is amazing when you think about it in just twelve months. Covert went around the world. Touching everyone like andrew cuomo. He's just he's in big trouble. He's in big trouble last week. Just one of those stories every week. The numbers go up. now it's six women And it's starting to look the only way we're going to be able to stop. Him is herd immunity. The latest is that apparently he called an aide to help. This is his way you know making out with the ladies called an aide to help come into his office privately to help with his cell phone this is the second accuser who says that was helped with my cell phone was the reuss because nothing makes women hotter than older guy who can't figure out his phone. Stop it. governor. Governor stop it. I'm so wet. Me and rice got a great show. Larry scott galloway hair i. She has a new york times bestselling author. Whose latest book is. You're leaving when adventures in downward mobility also host. A new podcast called tiny victories. My friend annabelle gurwitch you. Look you look fantastic. Look like the day we met on the condition for pizza and and yes. We are both like. You're one of the last boomers right. That's your generation. I really relate to being a. They call us like cuss people. Were on the cusp between gen x. And boomers bloomers have a really different experience and people born in the year as me. You remember bonanza. I barely bill. That's the difference. That's a big big difference. Got me there then. Great show kind off. That's the cat. But i feel like people our age you know. You're obviously making a point of being younger. But around our age. I mean you find out at a certain point that all the sadness and badness in life not all i mean. I had shitty times when i was young. That's true but a lot of it. The real bad stuff is kinda backloaded towards getting older. Yes you know. You don't look better You know people have less used for you. This is a country that has should he to older people in my book. I call us. The never tire meant generate. Never no one. I know thinks they're going to retire. We also we're not allowed to get tired because we are all working several jobs on the gig economy right. Yes it's it's one thing to to be in your twenties. We all had the shitty apartment you know with the roaches when you woke up on your face and eating blimpy's and when you're in your twenty or you don't give a shit at for. I'm not sure doesn't hurt you. You can eat blimpy's every day like i did. Not when you're older. You want comfort. That's the key thing and this is what your book is about downward mobility is we really fuck the older people and not in a good way. Not in a way. That's enjoyable for everyone. There's no contention that fucking that's right now in. This book was written at a time. When there were many destabilizing events in my life right and their events that have happened to write divorce. Divorce always divorced i. I was caretaking for my parents. I and that destabilizes people's economy and that primarily of women who are the caretakers right so then also the biggest destabilizer of all besides the fact that. I've now a freelancer and i've always said. Oh my god you know. If i don't die of a worst disease you know it just be like death by a thousand invoices. It's so hard to be a freelancer without benefits. That's the issue. And that was the breaking point for me was healthcare and and this gig economy name. People doing things i mean. I read in the book. It's hysterical. I see so many movie scenes in this book but became a landlady debt. You'll became someone who took in homeless people. Yes so people. Experiencing homelessness people experiencing phil off again. Apologize and resign. Just tell you the so this thing. I decided that the best way for me to stop hemorrhaging funds in the world to stabiliser was losing my health insurance and going out into the free market and at the same time that happened to me this time last year. March twenty twenty five point. Four million americans lost their employer sponsored health insurance of course doubt hence our mobility right so i became a landlady sir taking my rent help. I look here. The homeless people you took and they weren't helping with ren that's not exactly true. So what happened. Was i lost a tenant at the last minute right and i heard about a program which is a rapid rehousing program which is actually going on in eleven cities around the country. Now where you take in people experiencing homelessness young berkeley and you get a stipend a small stipend. I mean no one's getting rich doing this. You're not going to the top one percent by doing a every bit helps you know. I thought it would be better than nothing. And you know i. I first heard that phrase. I just wanna say on housed or experiencing homelessness. I thought okay. Is this the new thing but really when you look at who is slipping in and out of homelessness in america really describes as. We're talking about teachers. Marie living in their cars. We're talking about young people. One out of four community college students have housing instability in the whole country. So this is a condition and new became kinda closer to these people. I mean at first. It seemed like obviously. We're going to murder me right. I was worried they were going to murder me and my sleeping. But that's because i didn't understand who was housing insecure so they they're coming to my house and i wanna be nice and friendly but i'm hiding my jewelry. Mother's silver in the closet and they get to my house and they start doing very suspicious things. they start cooking salads. They start darning socks. They're reading. they're calling their mothers and honestly build. That blew my mind. Because i didn't imagine i had words. They were normal. People people want to do. And in fact and in fact i was so convinced that they were sketchy. You know that. I some point i thought okay. I'm going to put their names into a background. Search and i never had any experience during that. I put my name in two and it turned out. I was the person who was flagged. I was sketching person in the house. Why are you sketching well. Because i had unpaid parking host. This is what happens when you're worried about money. You start delaying paying your bills. I wasn't paying attention. So i had more red flags than they did. And the thing is they'd come to los angeles to be. You know artists right and i i mean in entertainment business. I have a problem with that right there. I never encourage probably people being artists. I have a problem with everyone in america needing to be an artist. And this is why. I'm gonna be outlook on life that it's it's maybe why you're homeless no impact. There's something because the thing is is that you know i thought okay first of all. It's a terrible idea to move to los angeles to work. I always don't do it right so you got to know them. I realized they had saved up money to move here. Almost the same amount as i had saved up right. They had done that working in factories they had worked menial labor jobs me. I moved here. I cashed in stocks. I got from my bought mitzvah. I mean who is more hard working you know and then when you look at at the difference between what they were facing and what i was facing right i got an apartment for seven hundred and fifty dollars when i moved here. The same apartment in the same zip code is twenty. Four hundred dollars now. I got a job in a restaurant right to move here and nineteen eighty-nine see. I moved here in eighty. Three line was three fifty in town and it was heaven. I moved from new york. We're had a bus outside my window every day. Now i had a fucking bird. I arrived in paradise excel relative. It is not even. That's the difference. that's an. that's an age difference respite. So now the thing is if wages had kept pace with housing costs that would be different. But so i got a job in a restaurant when i moved out here now that you can't get those jobs now. That job was even though it's not terribly high paid. You had shifts us dependable. You can't count on the money that you're making if you're working for food delivery at the bigger issue is you can't expand your social network right if you're if you're like delivering sandwiches from the back of your kia now. Not meeting people will help you later in your career you know. And that's what you do when you're working when when we were starting out all right so the thing is called thirty seconds. Give me. I love this this idea. You have a for small victories. Because i do feel that way. I mean maybe it is an age thing like oh. I found a roach in my pocket. I'm not even going to smoke it. Because i got even better stuff at home but the fact that i founded that. That's what i think of. When i think of and that's your thing thing it's tiny victories. It's a podcast. I started after my cat. Got a podcast. I'm like well. I guess i have to do right now. Jury launched this during kobe. And what i felt like was so many. Big pleasures have been stripped away from everyone. We just had small mercies. So i thought okay. We'll do a show where we celebrate small mercies and the whole thing is. I wanted to do a podcast. That was the same length as my attention span. So it's a fifteen minute. Long weekly podcast. You're always a pleasure. So glad i know you fighting the good fight other bell. Were ladies and gentlemen. I talk funny panel. Hey all right here. They are he's co-creator. Hbo's insecure and executive rooster. The netflix docu series amend the fight for america. Larry wilmore my palace over here to see you. Maybe the mets this year again. All right. i'll have to pay this time. He's a professor of marketing at nyu stern school of business and author of posts corona from crisis. Opportunity scott galloway. He's got all right. So it is the corona bursary Was a year ago minus two days where we did our last show here and i am boy at ended quick biden set at me the whole thing i mean i thought i was gonna come back next week. We had a panel book May i able to get a shot. July fourth biden says independence day yet. It we're going to be kind of independent. So i've been leading reading you know the year everybody's running recaps of this kind of stuff this dot. I have to start with that. I thought was most amazing. Jeff bezos law lost thirty eight million his divorce thirty eight billion divorced and he made it all back in a month may thirty five billion in one month. What does this tell us about america. Gentlemen it's worse than that. We've had one individual. Gdp of hungary to his net worth since the first virus. You on mosques just in time for him to peace out and moved to taxes so he doesn't have to pay taxes. We've seen billionaires go from one point nine trillion and wealth of four trillion. The dirty secret of this pandemic is at the top ten percent much less top. One percent are living best lives virus and that some be minute we see a lot of the we actually see places that went out of business by myself. Some of my favorite restaurant. Hey i drive by. And i wanna cry. Because they've been there for a log gone forever but the people who did if you're in the sit on your ass. Look at a screen business. Amazon apple google facebook right. They made their now worth twenty one percent of the whole economy. There we used we talk about the s. and p. five hundred it's the s. and p. seven there's now seven companies that have percent of the market cap amazon's since march has added more market capitalization than all of european retail. We have effectively four companies. That are so dominant. There's more we've been overrun. There's more lobbyists fulltime lobbyist in washington working for amazon than there are. Us senators there's more people working in pr and calms at facebook. Manicuring in march and cheryl's image than there are journalists at the washington post. Yeah we are so beyond any sense of balance in our economy. The eco-systems out of control. We absolutely need to break these companies up. Yeah it's almost like we're going to step ahead. I'm old school that stepping on a. It's almost like the way that you said there bill. It sounded nefarious. Almost like they plan or something you know not that they did of course but they took advantage of it but they took advantage of there's almost like an inevitability of this kind of progress. Let's let's call it. You know where how all that money just starts flowing in these these same directions. No matter what happens to the economy. It all keeps flowing that way but can ask this one question. When i read this about the amazon apple. Google facebook twenty one percent. I mean it was written. I forget where i read it. Maybe you yeah. It was written like oh my god. Twenty one percent of the economy four companies. Yeah but i was like. That's so bad. I thought it was eighty quite frankly. I hadn't read that. I mean the biggest four companies. Who really i mean this is. What's propping up. America as the rest of his goes to shit Is that such a big thing that those the four biggest companies are one fifth of the economy pennzoil. Not that alarmed at do we want one company deciding ninety three percent of the time when we type in overthrow government whether you get Instructions on how to build a dirty bomb or voter registration. Should one company control those decisions. Ninety three percent of the time should one person control the algorithms to decide the content that the southern hemisphere place. india rec- should one company effectively control ninety seven percent of all increase in value of all retail. The third and learn. I know you think healthcare is next right. Don't you think that walmart and is it is on. We're going to be battling to of course. Why wouldn't they want that. they own everything else. Where's the all the money going sick people. That's what america does best makes people look the fastest. The largest business in the world is us healthcare. it's seventy percent of gdp its prices. Keep going up. it's nps keeps going down. That spells here comes amazon but not only is it bad or morally corrupted these companies have so much power it's dangerous. the equivalent of the nasdaq and israel is down. Not up there vaccinating. Seven times the rate when the most powerful wealthiest people in the world are living their best lives. We don't show this virus the full-throated capitalist response. We are capable of if amazon amazon. Start if amazon stock had declined seventy percent instead of risen seventy percent in the last ten months when a van with a smile shows up in my driveway tomorrow morning someone with a somewhat jumped out in a lab coat and vaccinated us. We are living our best lives. This virus has not seen what with the. Us is capable of because stop. Stop at hurt so good. If you're the shareholder class but the other the other point is the every time you wanna talk. This guy's as usual. I said everything i wanted to say. No but the other side of it is providing a service that people like you know. I mean during the pandemic you wanted things delivered to you know so the. That's what i mean the confluence of them being there at exactly the right time with exactly the right service is was very convenient so i know so. Many people have signed up for amazon prime over the last five years because the all of the things that they come with it and amazon is amazing. The type of company that amazon is and how they position themselves to literally pacman. Every every type of that is out there. it really is. I don't think we've seen anything like that type that's He remember he cornered the diaper market. Lost like one hundred million. Just but i i don't care i want diapers to write something wrong with that guy anyway but it's not as bank account people living our best. I mean you have kids right. Yes absolutely say these are older now. Older like Like fifty now. No but they're probably a onscreen more than we are. Oh completely well. That's what that's what i worry about like as all these screen companies start doing better. We not an addiction already especially for the younger generation but living your best life virtually seems to be what they care more about than reality and i feel like that's something. The pandemic made worse. It's it's more important to look good as you're living on the instagram picture. And you actually are that i got. I mean there's there's always there's always a trade-off you know some people whose lives maybe they feel maybe their life is kinda shitty. They can represent a little better for themselves. You know sometimes people can reach out to people and have more opportunities for connections with people whereas maybe in their real life they wouldn't have those connections. They annabel saying the type of job they have may not allow them to network the way that the digital life can allow them to a network so there's pluses and minus with that type of thing okay. Is that your kid talking. You know it's true. We're just coming to the realization. That facebook is not going to take care of us when we're older concerned. With condition of our soul teen suicide skyrocketing because a concierge bulldozer. Parenting where we've created as princess and a piece engine with our youth. We've also acted them. Also addicted to them to social media it. There's all this talk about movements among young people whether it's game stop or other. I've just movements because they won't take away the phone but you wanna move the parents. I wanna movement acknowledged that the food industrial complex wants to make you fat and vulnerable to viruses. If you wanna movement realized that every social media platform is trying to divide you and enrage you you wanna movement. Instagram is trying to make you feel worse about yourself. You wanna movement then rebel against addiction divisiveness and a lack of self esteem and it means going after these companies and holding them accountable for the damage they are doing to the commonwealth into our kids. You have kids your world work. Your will to friends your rule. The kids something comes off the tracks and one of your kids your whole world shrinks down to those kids and a lotta times in covert. It's because the brain has been rewired because of these goddamn devices guys. Walking break told us how you really feel on your own dressing real but honestly you can go to any era rock and roll was was the double for white. Kids who were hearing black. Television was killing us socially every era. There's something you know I mean the thing's really didn't tv wasn't addictive like that. I didn't like have to watch mikhail's navy and it was on once a week on. I'm going to go back to you. Think you started with crony capitalism. But that's really we're talking about is okay with me. You'll get your applause in a minute. The night breaking. I'm not defending. I would defend capitalism. I feel like there's a rotation now on the left because people don't read history. They don't know what happened before they just live by slogans and they don't understand communism we tried it. Wasn't that long ago just too long ago. If you have that idea in your head. While i wasn't alive for it so i should know about it. Well maybe you should because we did try it. And it's i would say. Communism is worse than crony capitalism. Crony captain better than communism. Would you agree with that professor. Capitalism hands down the best system of it's kind when young people are seeing today not capitalism. We have rugged individualism on the way up. And then we have. We're all in this together on the way down. And we have socialism capitalism on the way up five. Ceo's of airline companies make one hundred and fifty million bucks other access cash flow to buy back stock so they can artificially inflate their own compensation and then she gets real and a pandemic comes and they don't have any money and all of a sudden we're in this together when you have capitalism on the way up and you have socialism on the way down. I'm not done yet. Have socialism on the way down. That's not capitalism or socialism. It is cronyism. It is the worst of all worlds. Capitalism capitalism is full body contact violence at a corporate level so we can create prosperity and progress. The restaurant abed of empathy. We have flipped the script here. We need to be more loving and empathetic with people and more harsh on companies capitalism. We are protecting. We should be protecting people not companies fucking delta burn. Baby burn fat. I got here i would. I would like to make a prediction right now before. This show is over sir. You will be the governor of new york state. I believe the that they're looking for one. And we got this speech. Ready bill on things is sometimes. We'd make too much either definitions and these things can be debated philosophically and that sort of thing but in the practical like for instance capitalism isn't even in our constitution. That word right. You know but our country. Since i would say teddy roosevelt we've expanded what capitalism and the government's role in trade. Is you know. And during the new deal. We redefined the government's role with the person you know the with security the government can can intervene directly with people you know and since then we've had not a we've never had a pure form of capitalism for good hundred and fifty years but it's always been expanding and redefining and stuff and now with The payments with the simmons payments. Once again we're expanding the role of government and how how people feel about that role the government directly in people's lives. Okay but again just but yeah okay. But if i could just reset from where. I was starting with the communism part. This flirtation and people are not really yes gentleman. I agree with everything that was said to great applause are capitalism has super big problems yeah but communism we did have this experiment for seventy years. It's not just bad. It's super bad it. Nobody killed more people than communist leaders. You know people were t shirts with castro and che guevara not good guys pol pot not a good guy stalin. They killed millions and millions of people and even the people who lived. We're living horrible lives because it doesn't work because it's against human nature you have to harness what is you have to graph institutions on what is real about people and what is real about fish. Nece absolutely all selfish. That's not something to apologize for when we have accessors yes of course but to think we can make the river flow in the opposite direction. We tried it didn't work. Let's reform capitalism and not go to mars. Make earthwork other. Companion gordon gecko. Those read is good. Gordon gecko. I wanna talk about this just for one second. This thing bothered me a lot. There was an ad in or is it tweet. I guess a both burger king was trying to be funny in an ad. And i think they were funny. They were talking about a program. They have to increase the number of women chefs. There aren't a comparative number of women chefs in the world. Maybe they should get more opportunities. Maybe there's a reason why they don't and we should address that that's what they were trying to say. So they had an ad. Women belong in the kitchen. Oh wow i didn't feel and of course you know the shit hit the fan usual suspects and i just wanna say this is what's wrong with us. It's like if you don't get the joke here then you're stupid. You don't get subtlety. Don't get humor. you don't get perspective and if you do and you're pretending that you don't just you can have something to be pissed off fat. Then you're both ways your gross. I'm gonna have to call a fallon that play. I don't think this is a joke. That's as good as it is. It's an ad. It's not a monologue. John but i mean i hadn't seen that if i saw like what the fuck is burger king do but then you would read it. And that's the point that's advertise. Nyu the right take on. This gesture should be taken with the intent that they're giving and this was meant i light. Yeah sexism exactly. Fortunately what we have in my industry is guilty of this. We've created an industrial shaming culture. Where there's money in dunking on people and saying making a caricature of comments and then using that to extract when ugly place so you can get virtue points whereas the moment you're offended on our country that means you're right and where we have. Universities is we need to be graduating not woke stores but warriors and that is people who are here jock. I'm giving you an applies now and and we need to look at those and we need to look at those ads and say does that humor work. Why didn't it work and have a thoughtful conversation and move on but not this industrial dunkin complicate. We'll hear it real time. We thought it did work. Thought it works so well that we created some other ones for other companies In the same style which elect these these are just people attendance and we thought other companies could for example oscar mayer could have nothing says summer like putting a winner in your bun. It's provocative and gets you thinking about it when you're here you're looking at tits great nuts. We have ways of making you shit the army. It's not murder if the people you killer foreign six flags are roller. Coasters are great for women with kids and pregnant ladies who don't want them american airlines. Let's get this. You don't like us upgrade pfizer. We vaccinated grandpa and made his dick harder. You're welcome man and of course the republican party no seriously a woman's place really is in the kitchen all right so i do have a breaking news because we always tape friday. We used to be exactly live. It's up and now we're a few hours earlier because of the virus. And i don't understand exactly what it is but i go along just happy to be Breaking news breaking news of friday afternoon schumer. Now and jill. Lebron the two senators from the are asking andrew. Cuomo to resign. We've talked about this last week but it is keep changing. I said it last week for me. These cases always case by case. But i find all these incredible. And i you know. Obviously if he was head of any corporation he would be gone. His arguments seems now to be. Can we just have the investigation. I and i think there is merit to that. It seems like we are in this old west mentality of you know just we heard something. Let's hang them right and can we just. Is that wrong putting aside what he did. Can we have the investigation. I well you can if you want to figure out what the criminal liability is part of. This is a political argument. What's the right thing to you know. There's always like the moral argument political argument legal argument. You know for legal purposes. Yeah stick it out of line you want. You see what happens. Politically is the right thing to do. I'm not sure you think trump being the guy who never backed down change this dynamic and it was sort of popular came to do. I didn't change the dynamic. One party acknowledged. We've never. I'll say as a sixty white male i've never had to endure the bullshit that women have endured at work for a long time. Let me just put that out there. But at the same time. This triggers me because women and people of color lost one of the most powerful advocates when kristen gillibrand decided to disappear al franken so she could have a seven minute run for president and we're in the midst of a pile and there's the reality out he he voters get to decide in eighteen months the majority of of Forty percent of white people sixty three percent of non whites believe he should not resign. We as democrats need to be the party of women but we also need to be the party of due process. We need to slow down. Let these women be heard and let due process and career and not just pile on. I think i think forget to be the party of women to. We can't just blame women for al franken leaving and al franken decided to do that himself up to make leave. That's that's she asked him to but he didn't have to the supposed things that he did had nothing to do with while he was in the office of being senator. You know that on the senate floor. No democrat with to him. It's ridiculous but the thing that was ridiculous without really america al franken's his transgressions happened him. Fut life supposedly when he was taking pictures and these sorts of things you know he could have stood up and said look you know or whatever his defense was. I don't think you can have a senate investigation over those things. Cuomo is a little different. These things happen while he's governing while he's in office. Those are sexual discrimination. Yes no this town issues. The today sounds very paula. Jones like you know. He saw someone across the room and called the next day to. Hey you look like someone who good to head up my waste management program. You know no. I just meant a government office. There was no reason to there was no reason why he would want but they also say he's surrounded by a lot of twenty something women. Yeah you know we should be hiring twenty something women but if if it's not for the right reasons yeah governor north them another example like we had recently a guy who stuck it out in virginia. If you don't remember governor north of man was accused of what he black face right at a at a party in eighties. Apparently there are all these black-faced parties in the eighties. I was never invited to. i never knew. They made sure they claimed the week. Movies soul man movie literally. You know. Billy crystal saturday night live. He sees sammy davis junior all the time all the time. Yeah i mean. That's i mean i think different times different times but also a specific character exactly but it wasn't like that again any black face and that type of thing we lost all sense of nuance. You were saying before but the point is governor. North was sort of assembly situation. You heard so many of the leading democrats at the time you could go through it right. Clinton hillary they all said governor. Northam should Quit yeah but go ahead. The difference was black. Said i managed you whatever you know. Because they said they liked the programs that he was implementing or that he was there to implement and they wanted to see that process happen. They wanted to see those things happen rather than you know. Roll the dice just a couple of pictures. That happened years ago. So and i say this all the time but this to me. The shining example of what white privilege is the ability to be impractical bega a privileged impractical. I think i think people miss that. All the time you have the luxury to be impractical about things and this is a pattern we see often in. I mean sixteen then this is march for so this is related but we give everyone a machine they're now talking about churchill. Statue has to be protected because he said some very racist things and the reality is the most non-racist thing of the twentieth century was turning back. Hitler and we're fond of taking a time machine and taking today's today's conventions norms and thank god. People should be held accountable. But should we put away the time machine because we like to travel back and apply today conventions to behavior fifty one hundred years ago and i just wonder if that's fair at some point high schools will have jfk and martin. Luther king's names ripped off because at some point there infidelity will be seen as misogynist. And at what point do we decide. That we need to be accountable. People need to be held accountable but we need to put away the time machine. Learn from the past as opposed to trying to revisit it and shame people. I just went just once. Got to make sure that he knows he's on the record for saying he won't use the time machine to kill baby. Hitler that's all i'm saying is i just went on the record per se. You know time machine killing baby. Hitler there is i turner classic now has they were showing movies from the past. That are problematic. Which by the way is every single moving. Yes look if you're saying. Every i mean even five years ago i mean i watch especially in the pandemic. I watched a lot of movies probably. I've seen before. Thank god. I smoked pot so i didn't remember. I saw them. And they're just run of the mill kind of moving there things that not away and they turn a classics. They're going to have somebody come on before the movie to explain why you're a bad person for watching it but we're going to show it and why can't look harrison. Ford looks a lot younger than he does. Now there's something in the movie you will like just go by that. I don't need to you. Don't have to walk me it. And we have lost all sense of subtlety and perspective. No yeah i like. It's there's a. There's a culture. It feels like everyone is by for k. Did and then. The far left has decided that being the opposite of what i think we've created no room for moderates because essentially the far right is in. My opinion embraced racism and bigotry and found that it is mobilizing weaponize a core base now. They've lost control of it right and on the far left at and on the far left we have decided into public has anointed us and said the most important thing you can do is be a self appointed police force for cultural issues and at the same time we have to find some ground in the middle to join hands and say look one out of five households with children as food insecure. We got bigger fish to fry than trying to create trying to dunk on each other as we totally lost. I think i'm with you. I don't want films like gone with the wind birth. i don't want those disappeared. Those to me are receipts. It's like any time somebody says they didn't know nigga turn that on. Turn that on. Okay watch that. Why are those people acting like that. Because that's how the world was back. Then i mean it was nine hundred thirty nine and then when you watch you watch through the ages like you see you know. I watched colombo recently alumnus. One guest leading guests are who's black but it's the seventies so black people are like very supporting roles right harboring criminals into the nineties. And you know the first kiss and but the black people that are like the friend a major role but not the leader. I mean yes and of course. People are shit but they get better. That's my slogan. You know that's all you you don't think things are getting better. People get better sometimes. We'll get some people. Don't but i think the arc moves. Yes but the art moves after pushing. Got the arc. Yes exactly the arc clear about that. You know these things happen because of the hard work that a lot of people put into make them happen quickly. Honestly watching the just have to say about the royal thing. Yeah because you in january last year right before the pandemic We did an editorial about it because they had just announced they were stepping back. And i said that you to just instead of just stepping back once you rounds the whole bullshit and lock stock and barrel of it. Just what is royal bullshit to begin with people calling each other. Your highness could be less woke than that where the woke people on that highness how gross and and then like the next day showed the headline. We have got a headline here. That just shows you there see and then like the next day they did it and i thought oh well they heard me. No i see that. They're just mad at their family was mean to them. They don't want to renounce royalty and they sell that kind of regal. Yeah it is interesting that that did come out that way and you know people were saying. What did they say that about. You know the baby and all that about making sure they didn't want you know wanted to know how dark the babies can be a thousand percent absolutely right not only just. Somebody said that they were all thinking. The royal family bridgeton in the tabloid press has to cover. This lady whistled down. Or whoever is why guys white guys hundred hundred year old grandparents who to hunt stags and range rovers racial bias. That's news and so let's say for everyone who's like racial bias. In the royal family there are other royal families in the world. Americans only seemed to be interested in the white one. All right i gotta go to new roles. Everybody rules all right now to rudy. Giuliani's daughter has written a piece about how she loves being the unicorn in threesomes and it's made a better person. Re to call family meeting where he gets dragged puts his hand down his pants and drips. Die down his face. While screaming you will not embarrass the guiliani family role. Someone must tell me what's up. What loss gold. There's lost civil war goal. Lost world war. Two gold laws gold of the incas wire people always losing gold. You don't do that with gold. Knew that acapulco gold new orleans. Today's stressful times. It's more important than ever to focus on good news. Like the heartwarming story out of japan. That one hundred eighteen year old connor tanaka will be torchbearer in made for this. Summer's olympic games. What a tribute to the human capacity to never mind saw your all americans the one year anniversary of code with the feast. Made up of the items in your pantry. You bought in a panic at the beginning of the lockdown and then never touched on each year on march eleven. This will become our traditional meal. Sardines a bag of black beans trader. Joe's chili spaghetti from a company. You've never heard failed attempt. It's our job read. neural now. That the city of paris has erected a giant clitoris in front of the eiffel tower to honor women's day. Don't tell your boyfriend to meet you there. Because there's a good chance he won't be able to find it and finally new rule. You're not going to win the battle for the twenty first century if you are a silly people and americans are silly people. That's the classic phrase from lawrence of arabia. Went lawrence tells his bed on allies as long as they stay a bunch of squabbling tribes. They will remain a silly people. Well we're the silly people now you who doesn't care that there's a stereotype of a chinese man and the dr seuss book china. All one point four billion of them could give a crouching tiger flying fuck because they're not silly people if anything they are as serious as a prison fight. Look we all know. China does bad stuff. They break promises about hong kong put liters and camps and punish descent. And we don't want to be that but it's got to be something between authoritarian government that tells everyone what to do and a representative government. That can't do anything at all. In two generations. china has built five hundred entire cities from scratch move the majority of their huge population from poverty to the middle class and mostly cornered the market and five g and pharmaceuticals. Oh when they bought africa their new silk road. Initiative is the biggest infrastructure project in history. Indebting not just that continent but large parts of asia europe and the middle east to the people who built their roads bridges and ports. If you want to go anywhere in the world these days you better have a yen for travel. Stop it in china alone. They have forty thousand kilometers of high speed rail. America has none are fastest trains. The train that goes around the zoo california wanted to build high speed rail connecting the entire state. But could not. We're six billion in the whole just trying to finish the track. Connecting the vital hubs of bakersfield and moore said one small step for nobody one giant leap if you're a raisin on a national level we've been having infrastructure week every week since two thousand nine but we never do anything half. The country's having a never ending woke competition deciding whether mr potato head hasn't dick and the other half believes we have to stop the lizard people because they're eating babies. We are silly people. Even when we all agree on something like getting rid of the penny no the inertia the ask covering the graph the lawyers the cowardice nothing ever moves in this impacted colin of a country. We see a problem and we ignore it. Lie about a fight about it. Endlessly litigated sunset clause kick it down the road. And they've got a bill or a half ass solution doesn't kick in for ten years china china's problem and they fix it. They build a dam. We debate what to rename it. That's why they're airports look like this and ours. Look like this in san francisco. It took ten years just to get to bus lines through environmental review. The big dig a tunnel in boston took sixteen years. And don't get me started on. My solar china wants put up a fifty seven story skyscraper in one thousand nine hundred days they demolished and rebuilt the sun yuan bridge in beijing and forty three hours. We binge-watch they binge build when cove hit wuhan. The city built a quarantine center with four thousand rooms in ten days and they barely had to use it because they quickly arrested the spread of the disease they were back to throwing raves in swimming pools. Well we were stuck at home surfing the dark web for black market sherman. We're not losing to china. We lost the returns. Just haven't come in yet. They made robots the cheka kids temperature got their asses back in school. Most of our kids are still pretending to take zoom classes while they watch tiktok and their brain cells slowly commit ritual suicide as george bush once said is our children learning. There's a progressive trend now to sacrifice merit for equity colleges or chucking the sat and act test and in new york. Mayor de blasio announced merit would no longer decide who gets into the schools for advanced learners. But rather a lottery system. You think china's doing that letting political correctness get in the way of nurturing. Their best and brightest think chinese colleges are offering courses in the philosophy of star trek the sociology of seinfeld and surviving the coming zombie apocalypse. Those are real and so china and they are eating our lunch and believe me in an hour. They'll they'll be hungry again. All right. that's our show. I want to thank my guest. Larry wilmore scott galloway hundred garage. We'll see you next week. Thank you only episodes of real time with bill. Maher every friday night team or watching any time on each peo- on demand for more information log on. Hbo dot com.

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Deepfake takedowns, white supremacy on Twitter, and the companies boycotting anti-abortion states

Pivot with Kara Swisher and Scott Galloway

36:31 min | 2 years ago

Deepfake takedowns, white supremacy on Twitter, and the companies boycotting anti-abortion states

"This episode is sponsored by China. A proud sponsor of this year's code conference, whether you've got ten employees or over five hundred your company culture is essential from the entrance to the C suite and trying to get that in addition to providing full service, HR solutions, try nets consulting practice can help you navigate the complexities of scale. So you're people stay supported through growth. Learn more at China dot com. That's TRI NET dot com. China incredible starts here. Hi everyone. This is pivot from the box media podcast network. I'm CARA Swisher, Scott Galloway. What's going on this week this week this week? I wrote about the deep pig. Pelosi thing it's not really a deep fake. It was a light fake, essentially, and I wrote a column saying got people all mad because they thought I was calling for the end of two thirty which is to remove immunity and stuff like that. I was and I was talking about, like what why did Facebook do this, so closely YouTube just took it down, and it was interesting. They didn't get any reaction. They're just made a decision. I think that's what it is. You just make a decision and you, you make good one. And then you act in the right way, and other people thought that, that far had Montjeu this today wrote novel forms of digital misinformation. Still pale in comparison with Fox News. It's fulltime hauled mirrors which like, okay, Nancy Pelosi thought they should take it down. Hillary Clinton, said it wasn't even a close. Call the videos, sexist trash and YouTube took it down. But Facebook kept it up. You know upper down. They should have handled it right. Whatever they did. And now Twitter's trying to decide. White supremacist belong on the platform was historian, motherboard. So what would think you of all this Scott Galloway? So this was an extraordinary week of lying for Facebook, even by Facebook standards. And the first live was when the spokesperson, so they're sort of in the same business, again, I this is the Trump administration of digital and that is they hire people. And they say look in exchange for millions of dollars. We want you to take your reputation, that you built your whole life and ruin it by lying repeatedly with us series of talking points that we'll provide to you because we're under the impression that for the most part, Facebook just generally believes that we're all fucking idiots. And so they sent a spokesperson on CNN to speak Anderson, Cooper and say things like, well we're not in the news business. We're in the social media business, and we want consumers to decide what is the truth after acknowledging that the doctor photo that makes Nancy Pelosi look like an alcoholic or disabled is not in fact true. So it's like saying you and I are in the I don't know the, the sound engineering. Business, not on the podcast or the tech business is just such an incredible falsehood. Forty percent of Americans get their news from Facebook. There has never been an organization that is a bigger news organization, so. What would you because they I lot of pushback, I put some loved my call him on this, too. So the question is are the immediate come there? They tech company are they what? And so I think one of their excuses was like, look, we don't take them down just because they're wrong. How can we differentiate there's lots of Trump versions of this, not quite, so obviously done for propaganda, like there's, and some of them are satire? So what's the difference in satire and propaganda? There's it, it reminds me of those decisions. I don't know. I can't define porn, but I know what it is kind of thing. That is. Okay. Thank you, in any case it. How do you what do what do you do if you're them? I mean, if you're going to be nice to them, you'll say, this is a really difficult problem that they it's not. It's not. He told me why. Okay, I'm gonna be them. It's like this is a real difficult problem, we face, and we are trying to best, and we don't take downfalls things and we labeled it. They labeled it badly. Let me just say they labeled a badly. So what would you have them because they'd have to like take a lot off. I'd have them do with housands of organizations around the world. Do every day with a fraction of the cash flow. And that ours, I would imply good judgment, and this incredible the greatest human the greatest processor and the history amount kind the greatest artificial intelligence. It's called the brain and discretion. When you are a media company, you have a special role in our society. Don't think there are media company. You have enough already. They are they spend who kind of media company that does that advocate them from. I don't know. I don't know. I just think we have to think about it go in dollars and original content. The majority of Americans now get their news from social media. They run content against against their consumers, and then run advertising against there has never been an organization in the history of mankind. That is more of a media company, and they have to do with the rest of media companies doing that, that is make discretionary call so satire is satire. So if you show Nancy Pelosi and bad, plastic surgery, which media companies do all the time. Okay. That's satire, she's a public figure. She deserves in his open to being mocked when you fool people into believing that the third most powerful person in the nation is, in fact, impaired or drunk, you make another judgment call. And that is to take it down in this organization, keeps defaulting to this notion of we aren't immediate company or now they're saying, we aren't news companies such that they can let chaos rain and not accept responsibility. But I'm gonna actually ask the question. What about far had Mongia's question that set small small issues with Facebook when FOX's doing this almost all the time? Fox did a similar thing edited a video nets. We'll make crazy. So it started off the Nancy Pelosi is crazy meme on cable network, and there were no repercussions for them. So I, I think I think it's a fair question, but I think FOX has essentially outed itself is someone that is very anti anti liberal conservative network. They have a media point of view, and the point of view of Facebook is that we want to have absolutely no import or no discretion or accept no responsibility, such that we can have more and more chew Bonyads, because white nationalist yogurt. And I don't think that works for media company. I thank you have to take a stand and be clear on your editorial stand because I think with FOX to a certain extent. I'd also people expect it, the people know what's going on. They're the same way. They know a little bit. What's going on? And if they do false videos. Oh, I don't I, I think that crosses the line, and I think, again, the key to all of this is it with media. We place on top of these decisions something the requires. New on something that requires a human, and what tack has been able to do is replace humans, what technology and they're paying the price, and what they need to reinvest some of that unbelievable gargantuan, you know, supernova profitability back into that human discretion. Be good for employment and might be bad for shareholders, but it would be good for employment and it would be good for society, and they ex- they refuse to make the requisite investments despite some of the incredible harm, that's taking place because they refuse to invest in that nuance that every other media company has invested in now don't you? Yes. I see an interesting question because then when I wrote, he's a lot of someone wrote cares, wishes wrong piece. Which, and then he's like I'm scared to say it and started with his crazy lied about how I made him drink coffee which was okay. Whatever you don't make a dull drink things. So one of the things was that, that, if they start making decisions they could start doing on religious stuff. They can start doing other speech. You don't want Mark in charge of this, and it damages the free and open internet, if they respond. For this, including the section thirty stuff. So it's got to be dealt with it. That's and I think smart, people should sit around and talk about it, interesting. I was at an event last night and us us I was an event last night at this fancy house called the Meridian house, it or not, it was like gorgeous home. One of these Washington DC homes, and it was, it's, it's some sort of organization that helps the State Department with foreign dignitaries. Anyway, someone got up someone who worked for a tech company, I'm going to say which one was like, how can you make all these tech people seem like villains. And I was like they were we're seeing the celebrities forever like isn't going to hurt innovation shouldn't we let them do whatever we want. Another person was like, shouldn't we let them do whatever we want? So we get the benefits and it was really it was fascinating for people to do that. And so that leads into Twitter trying to decide whether white supremacist belong on this platform. There's a new platform called parlay that parlor parlay. There's, there's deciding what to call it the people call it different things. But would you think Twitter's should do make a decision like that or just let it go yards? That we have been co opted into the notion that this is really hard or near impossible because of their scale and again, these guys can do it and actually Twitter has done. I think decent job, if you report abuse on Twitter, I think they do you know not a perfect job, but I think they're making a good faith effort, and I'm kind of lows to give Twitter and credit here. But I think they do if you do report abuse, something happens. You can block people I had problems that, but have you. Yeah. But the amount Facebook's power. The fact that they now are there. They are now speculating or proposing an encrypted backbone such that they can fully throw up their arms and say, we're not responsible and have one kind of broken sociopath aside, the algorithms to go privately and without any supervision. The algorithms to communicate the two point seven billion people immediate is media displays an incredibly informal and the notion, they can't figure it out like every other media company has done throughout. History, even if they have a bias, the Wall Street Journal, has a by it's impossible to have humans, and not have a bias, but we also get as a certain level of discretion where you can say, okay, this is clearly false. It clearly could have negative ramifications for not gonna let they're not the town square. They don't need to comply with the first amendment. And yes, they have to make the same hard decisions. Everyone makes every day at work around close calls, so this notion that it's again, we're not talking about the realm of the possible, we're talking about the realm of the profitable, and they've decided to communicate a narrative that said it would be impossible, or all this hand wringing or mental anguish. No, it's not media companies get wrong all the time, but they try and they get mostly right? Most of the time and Facebook needs to start getting mostly right most of the time, and it's going to be one thing and one thing, only, it's going to be expensive and the investment. And whatever hit the earnings take will be a fraction of, of the upside will get from not having an organization that spins violence, the communicates, hate the depresses our teens and your. Your article is exactly right. They should be subject to the same scrutiny as every other media company for some reason, we've decided. Oh, no. And again, a spokesperson said, we're on News Corporation, where the social media. Yes, interesting. It's so hard for me to say these things. I mean that's the thing. It's like it's gone too far. And you do decide what your business is. Are you going to be a business where all the mobsters go to eat or not like or you're going to have to go? There's no Luger's. Yeah. Yeah. Yeah. There several of them. Anyway, it's so LARs two and three we're on Facebook going. So the narrative from from shell Sandberg, is that only a company of their scale can solve these problems. And the problem is, it's the scale that created the problem in that is this organization has so much reach and has so much commentary and so much content that they have that it's gotten away from him. So it's not scales going to help them solve the problem scales, the thing that caused the problem and then my favorite lie that every organization, switches to when they realize the regulators are catching up to the damage they're doing they're making the Chinese phobic argument. Oh, that's panel about less than a weaponized Chinese companies are coming for us, and guess what EBay was able to push back on Chinese companies when they spun pal, you know, when the telco monopoly was AT, and T was more able to push back on Vodafone NTT when they split up into eleven companies the notion that one big company is needed. Only the only argument to make is capital in any of those companies, whether it's Instagram, whether it's WhatsApp that would that would be spun would be more nimble more innovative in my view more ethical because they'd be forced you to competition, and they would not have any trouble finding the requisite capital to push back on, we chat, or all the Chinese all the Chinese, you know, AI warriors that Mark Zuckerberg Michelle Sandberg are trying to convince us are coming for our children. It is just three lies and seven days, Facebook, your honor, roll, right that. All right. Speaking of difficult social issues. Netflix and Disney this week talked about if this Georgia abortion, Lagos in fact in pull their investments. And a lot of people are getting the business, boycotts, don't work. We're gonna have Stacey Abrams at at the Cote conference next week long with you. And she is like this. It often doesn't hit the right people. So, you know, Bob, I literally this morning just said the same thing, like we're not gonna be able to work there. If that's if this law goes new affect same thing with Netflix, others will probably say the. Same thing just today. Mark Benny off. Salesforce has said they're not going to help companies that sell automatic weapons with their software really waiting into all kinds of issues, the tech n media companies thoughts. You know it's a tough one. I'll ask you to go first because I find this is a tough on. What do you what do you think do you think this works? Do you think she's boycotts? Work business boycotts regions. I don't I don't know. It does it sends a signal. It definitely sends a signal. I think, yes, of course, it affects people it may affect the wrong people, but, you know, p pe- people get affected, but it's sort of, like anything else. I it's, it's difficult to decide who who is more my son this week was trying to the idea behind transgender athletes competing with women this topic. And I was like anywhere you go. Someone is gets hit if whatever choice you make. And so we were debating that and I was like, I can't even know what to decide in this case. And so, what was what was interesting here? Is that if you hit the wrong, people doesn't matter? I think. I think probably you do hit the wrong, people more than the right people. But at the same time, it does send a signal of Disney, if net flicks if Amazon, doesn't locate there, you know, I it says it says we don't want to do business with you all. This is an important thing to us. And I think it's the same thing as you're, I'm about Facebook because what kind of company do we want to be, what kind of choices do we wanna make what do we want to build? And I think that's a very legitimate, like what do we want to put on Recode? I think it was like I don't wanna put that. I couldn't I make choices like that. You know, I, I don't run the website anymore, but like that, and you do the same thing, do I wanna work for who do I not want to work for? And so, I think it's I think it'll probably have an impact because half the, you know, a lot of people are, are thrilled with this new abortion, law in Georgia, and they maybe won't go see endgame or, or probably they won't they love these movies are great, but I think see you have to make choices and today. I think it's impossible now not too. Yeah. We found that, you know, Indiana, when they when they started talking about, you know, in his Pence, and gay conversion to her p as a as a, you know, a legitimate a legitimate program to, to stem. I mean, there's so much crazy shit from so many crazy states, and then companies so right. That's that we're done. And I don't think there's any any evidence. It's active. It's, it's kind of it's a little bit of virtuous signaling from the company. I think the time to make these threats was much earlier to say, look, if this goes through because at the end of the day voters, don't like being told by those Damn Yankees or those people in Hollywood, how they should vote, and it feels to me like when you're talking about some thing as valuable as you know, family, planning and a woman's right to choose. This is supposedly settled law, and it means that we need to be down there in educating voters, and we need to be supporting Planned Parenthood. So that's a natural be doing. Well, I don't know. I just wondered does net flicks. Does any Georgia voter really changed her mind because Netflix. Successor not gonna fill their Disney's a bigger thing. Disney's, you know, you know, it's popular among everybody like so what do you as a really hard question? It's a real difficult. They do think they can't avoid it. And certainly they have to then if they do film there, they have to deal with their employees who are like or, or, you know, look with Emma Thompson, did around Pixar for like, I'm not going to work. I'm quitting. No. She had a really good interview near time saying, look, I know other people can't say what I can say because I can get another job. But you know it does I do think it matters and people's beak up, and especially like a Bob idir. It's a really interesting. I just think it says something. And it puts a line in the sand for sure on this issue. And a raises awareness, for example, I was thinking about taking my eight and eleven year olds to the what is supposed to be the world's largest and most impressive aquarium in Atlanta, and it actually gave me pause. Should I not be should I not be taking my kids and my dollars to Georgia in this period? And you're. It just it puts it into the news cycle. It's important. I don't know how effective it is. Although I will say I do think there's a shareholder reason to get much more woke all the money is going. Well, for conservatives are overrepresented in government controlling government, seventy one hundred senators come from twenty percent of the population, mostly in the middle of the red states. But all the money is flowing to the cities, it's flowing to young tech enabled information workers who are college graduates and show me those things, and I'll show you blue. So, you know, part of the reason one of the problems every income inequality is around all the money's kind of aggregating to a smaller and smaller cohort. But whereas it used to be the rich people, where these ritual white guy Republicans now it's kind of young white Democrats, that are gathering, all of the kind of disposable income. I mean walk into a company whose share prices up three hundred percent. And there's a thirty year old has made more than a million bucks. I'm gonna share a company that's eighty percent. Plus, democrat so companies are finding their woke values because that's where all the money. And so this is respond to employee's. There's no question. Yeah. It's just. Just changing and companies are taking more political stance. But, you know, you and I both live by Bob Eiger, so right on brother. The point where like me and my Kashmir way they're just gonna do whatever I feel like we hit rock church. Call Mr. cash. Mr kashmir. It's like why do you keep calling me that I'm like, you know, the other Mr.? You know, the other Mr. Kashmir was Peter who worked for blank, Peter ternan. He was also Mr. Kashmir. They look great in their Hashmira, but they're, they're very smart guys for sure. All right. Great brown. Yes. Exactly. Kootenai baby killing baby. I'll pack lambs for my for my sexy sweater. Guy's in Italy to talk about. Dreaming, whatever. Anyway, ineffable it when we get back we have to give back, but we're gonna talk about MacKenzie bazo and pledge and talked about billionaires, a bunch of other things. You're back after this. Axios on HBO is back for another season. There's limited run documentary series includes a unique mix of breaking news. Exclusive interviews and short profiles delivered in that signature, axios style. The mediocre innovation that coined the term smart. Brevity is bringing you all the news that's worthy of your time from revealing conversations with Elon Musk about Tesla's early struggles to an exclusive interview with President Trump at the White House each edition of axios helps you dispose of distraction. Tune out the noise and focus on news that matters. Most catch new episodes of axios on HBO at six pm on Sundays in June TV, streaming on demand. All right. So Winston fails Scott wins and fails you were talking about McKenzie basis, she's doing the giving pledge I like much, although I just interviewed on Garrod's us, and he was talking about the idea of just taxing rich people and not letting them give money. And this way, the giving pledge is a little different. I think it depends on how they give it away. And I don't think he thinks all charity is wrong. He just thinks the way charity is done by very wealthy, especially Tex people is problematic. Essentially, they get to make money any way they want, including damaging ways, and then they get to give it away. Anyway. They want. And so we sort of give them a pass, just like the Sackler with opiates and things like that mitt rethink it. So just taxing them his thing. But nonetheless, this is an enormous amount of money. And if it's done correctly there, could be I think there could be great benefits. But what do you think it's har-? It's hard to be critical of some places to give away money. That's the point. He makes you can't be critical. You're, you're, you're really is. I mean, there's different forms of giving. But it's what was most interesting about that announcement was the bigger story in the. Media wasn't that? She had signed it. What was the biggest story? It was at her husband had not. Yes. That's what everyone was focused on. He hadn't done an an anon-. I, I did listen to your podcast with the nominee. I thought was great. And I have a story about an on, but I call it the Pablo Escobar fact, and that is Pablo after, you know, wreaking terror on nation and killing civilians, and creating a culture of violence and crime. He would build parks, and then he would fund, the local soccer team and is, is in fact, philanthropy, a means of kind of, you know, orient -ment for is a new sporran for the people who, who didn't behavior appropriately to get those, those billions is the newest born for bad activity where people everybody, you know, all this, I think one venture capitalist is constantly talking about helping, you know, young girls code, and, and, and talking about, you know, barks at the moon at night, and then shits at the shits in the well all day long and it's just. How do we have a series of people is, is, is the American way be as repay shis as possible, and then trion the men is philanthropy? It's really, it's really interesting into a certain extent, I am care as I mentioned last week. It was capitalism vs socialism, no joke week on FOX and can you believe that spoiler alert, I think capitalism is going to win on FOX anyway. And I'm digressing here. But last week, I went on FOX, and they come on, and they introduced me as a socialist, but you know what socialism, philanthropy, socialism, because it's tax deductible philanthropy is consumption. Well, I didn't know either. But according to FOX IM anyways. So, but. Okay. So what is socialist talks to the tax deductibility philanthropy, philanthropies consumption, it should not be tax deductible social security, in my opinion? I I'm on this thing I have decided where every major economic activity in tax rate. Our entire taxes them is an economy is designed around one thing, and that is to take money from every single cohort. Whether it's millennials whether it's African Americans, whether it's women, it's to take every money from every single cohort and transfer it to baby boomers mortgage tax deduction, who owns homes, baby boomers capital gains tax deduction, who owns homes, baby boomers artificially suppressing. Artificially suppressing interest rates unsustainable, social security barring against the future to pay for these social programs that aren't meant to help the poor, but make it such, you can upgrade from Princess cruise to a silver see Cruz because you're getting social security. When you goddamn don't need it baby members literally Tom Brokaw talks about the greatest generation the greediest generation hands down in the history of mankind US, baby. Loves it ran from Scott. Okay. He's got what was a win then. What was the win win? Okay. So, so it's a little bit old. But both header and courts got sold one for one hundred twenty one hundred years ago, right? Yeah. It was well a few weeks, I guess I'm slow. I'm just getting caught up, by the way, have you seen this new show called cheers? It's so cute. It's so cute and my latest show. Everyone loves Raymond anyways anyways, the these guys got sold. I like I like it. When startups get sold and they do, okay. And don't necessarily have to be, you know, twelve billion dollar exits so cheers to cheddar and accords for getting sold. I think it's a good outcome. We've entered an economy where it's either usually you get beaned in the face and go down in a ball of flames or you become a unicorn and. Worth billions of dollars. I like kind of what I'll call these, you know, these triples. So congrats to both of them. All right. Now, I'm going to start with fails, I think covering up with John McCain, isn't yet another story. It's like everyone's like, oh, it's a distraction like it's awful, like explain to the fans would have happened is the someone in the White House sent a memo to the military to cover up the John McCain is a is a is a is a giant destroyer. I don't know what kind of boat. It is. But it's a big boat ship that we that the navy has navy ship, and it's for his father has his grandfather and him, I think, and so it has his name and the people who serve on it have their names on their on their uniforms, and the boat was in Japan where President Trump was visiting and apparently someone for the white has said we can't have it seen anywhere. Trump is like he doesn't want it within his vision or something like that. So they used a tarp it first and then they gave all the McCain a crew members the day off, so that you wouldn't, and then some of them tried to get into the event with President Trump, and they were. Aren't allowed because he couldn't possibly see the name McCain without going crazy. And so he is denying that he didn't. He never thought it said it was awful for one in this never apologize for it. And then he also said, well, the person who did it was. Well, meaning and the fact that these, minions, would, you know, preemptively deal with their baby. Huey tantrum of boss was stonning. So I thought it was it was. And then, of course it got tons of it was hard to hide. So the, the navy I was like social media exists. In pictures, go viral, you need like you can't hide this up at the fact that the media, the, the navy was being pulled into this political Dickey's was just sad to start is that is some my fail was in the navy, by the way, what is your doing the name he's dead? But he was a. I forget, whatever he was a doctor. He's a Star Trek maneuver. Yeah. He was he put him through school. He was. It wasn't didn't have a lot of money. And so we'd put him through college and medical school. And then he served until he he died just after he got out in his thirty it's his early thirties. So he was he loved the navy. He was. He looked great in the navy. I just have a lot of I wanted to be in the navy. But anyway, it it's, it's they did this on your father pass away in his thirties. Yes, he did. So lots of impasse. Thank you. We'll talk about that later over drinks, anyway. So sorry father was in the Royal Navy was a frogman really. We are you English. Yeah. Well, I, I used to be a dual citizen which explains my incredible wit humor and, and terrible design tastes and lack of cooking skills. But anyways, yeah, my both my parents are British. You know, you need to invest more in our relationship. We're going out next week. We're gonna talk about all you always say. What was your take on me out, and he's never do going going to? You're going to hate book party going to your party. I it's going to be awesome. Jay longer to go to your book part. I literally dozens. And dozens of my family. Wins. And then you can do your is Scott's book is what it's number thirteen on the apple bestsellers list. That's number four. Lucky? I talk about GRA happy. It is not. It is. I'm gonna trigonometry happy those of the ceremony people like growth through the door and say to the kids, the big dogs number today. I'm number thirteen man. I'm number thirteen. That's like that's typically to get to get you know what I'm about to have sex. Now we have to talk about this. You know what I yell out to put my partner in the mood. You know what I yell out? It's time to pay the rents. All right. Just to get everyone in the mood sky. Yeah, yeah, this is your fail this week. But what is your other fail? The my other fail number thirteen hearing. You say that he'll say that's what I have in my life, number thirteen. And by the way, you know, these bestseller lists, they something about it. So many ways, it's like hardcover nonfiction from an angry professor, who eats such a Bolay, and I'm number thirteen and it was my fail is the art fund. This is my new whipping boy of courses. We work. They've raised two point seven billion dollars. Yes, you know, in about four and a half billion out of Saudi money. By the way, great, he saw thanks vision on couldn't have been now table. They're now buying the building the that they rent the Florence. So they've started an investment fund, and it's, it's really unusual by any well I'm fascinated by the wheel. We work with model because most hedge funds go out of business because they invest long, invest in assets illiquid. And then they borrow short in that as their investors can pull out the money anytime in they end up in a mismatch, and that's what's going to happen with we work, and that's my prediction here is that they signed tenure leases, and they try and arbit- with short term short term rental rates that are greater similar to what you do in a hotel room where three hundred sixty five days of a hotel room. And I'm parroting the article in Recode is greater than the cost of rent similar apartment. But what happens when through a recession when people stop renting or going into these things, and they look at this just horrific balance-sheet, this company could literally semis? Someone's because it's going to be ugly and then the other the other thing that happened just went last week. When we talked about our predict prediction about tesla coming undone, I, I usually whenever I mentioned, tesla, the fan boys come and I have to I I'm Jason GO. It's so angry at you. And people are so passionate about this company, and this was the first time where I was critical of tesla and the majority of the comments were, now the stock isn't going below one hundred bucks come. He's not gonna get sold which was the discussion. They said a lot of people wrote me very thoughtful article saying, this is going bankrupt, because it's got eleven billion dollars in debt. And when you add in the liabilities around the warranties that this company against into a desk, Byrol will won't be worth the debt and it'll come out of a pre pack bankruptcy, which I thought was a it is a great car. Yeah. So you think it's going to go bankrupt that is your this week. I don't know. I still. No. I think there's real value. I think even with eleven billion dollars. It's there's tremendous value and also want to acknowledge Tusla has been good for the world. It's sort of he's checked box. It's, it's been a great thing for the world. But I just think economically at the end of the day, they bend metal terrible industry to be in very hard for independent player. It's like single titled publishing you can have an amazing magazine you can be whatever it is Vanity Fair couldn't survive on its own right now. It just doesn't it just doesn't work industry dynamics work, and it's the same industry dynamics here, and I think you're gonna see the Germans catch up in a big way. But my point is I got a lot of really thoughtful feedback from people talking about the balance sheet. So thank you. I have not heard from the biggie, and something tells me, I'm not going to, I don't know. I haven't looked at me. Yeah. Yeah. You know him I did. Although, you know who I want to by the way, he does think this is he thinks the survival, I did a podcast with him, but talked about this, a lot, the survival of companies like tesla. He says, tesla in particular is critical to the plan. I think he, he has a I mean, people have all kinds of opinions about him, but I do think he really is. You know it is linked with climate change is Lincoln with a lot of things. So whatever you think I think he's done something significant here new part of new segment on the show care before we go. And it's called who Scott wants to roll. I mentioned no joke about six months on this podcast that I wanted to roll with the CEO of big tech company in Coachella, and they called my bluff, and they said, you know, so, and so wants to meet you and coach L and I freaked out. I just couldn't handle the pressure. I not going to tell you, I just freaked out. But so I gotta aim lower. So the guy on a roll with. And if he's out there and if anybody knows them I'm going to take him out in New York. I think he and I would just slay in New York. I don't even know his name's Gary from veep. I wanna roll with that guy. I think that guy is one of the best actors, he was also interested development that guy. Let me think what's the word care. He's gangster, guys like the dirt the guy who he's an, he's a longtime actor, he's fantastic on one of my, I think him and me and low loss. Can you know if you Don Julio's on the rocks. That's gary. And who's that? Oh, that's an ugly angry professor. No, it's the people are gonna buy predictions predictions is, it's not going to happen. That's my prediction. So we'll go ahead. What is your prediction, so you into power couples, they seem you heard this juror Butterfield of slag and Jen Rubio the co founder of away or getting married? I wrote him a lovely note about it. We'll we'll hold on. Yes. Stewart and gender. Getting getting married getting married. They did a whole thing where it hold on the CO slack, and see of away or getting married. Oh, god. That's awful. Jesus christ. Lovely people God, I don't know them. And I hope it just. No, it's not. They're lovely people people that successful sweet non have children in any case. That's, that's awful. Yeah. That's I told you people just procreate. They say all right. What's your prediction? Addiction prediction. Side of my prediction is a breakout show, and this is a this is. I, I love television. I have a new breakout show. Okay. So I spouted killing you. I was going to be checked. The next big thing is this amazing show called fleabag. Right. You're looking at show. It's a great show. Experts thing. All right. Fleabag you like killing turns out there, lesbians, right? All things. Whatever I you said, I like it's a bad. It's not I'm just saying, I knew I'm told everyone that was totally everyone. I'm totally into lesbians. You know what kind of what kind of person is really into lesbians men, men? I got a lot of questions that's an entirely different show. But I got a lot of questions you're going to meet my lovely go from this, this listen at your book party, I'm bringing you, you have to be. Yes, I'm gonna bring a you're gonna be I think I met her. At southbound, I think so. And you're gonna meet her again, you'll see how she seemed very nicely. So I e you can talk to her about lesbianism, if you want, if you feel like I've got a lot of question you drinks open bar. This could get into heaven. No answers for you. Just say in. It doesn't get interesting. It gets dull two lesbians. You have to endure it so much. Anyhow. We'll try our hardest Detroit to talk to you soon. Amax has taught me different. It makes it seem very you go to a good place. You go to a bad place. Just like I am who I am. Okay. All right. We're going to go now. All right. Your son's poetry reading, and then my sons, go to my other one's going to the prom next week. There's all kinds of end of school things. Yeah. So it's very good. History presentation, we had to practice that I've been deep into end of school stuff a day for prominent. Course he does. They have a bus. They have a bus that goes, and we have picture taking a bus and they stay over one of the parents houses, and they all stay together. Which is seems nice. They don't drive and drink or whatever the heck they do. Anyway. He's very exciting as a beautiful jacket, and I got my other son beautiful Jack for his eighth grade graduation. So I am deep into moments with my son's anyway. These are the moments. So the days of good morning yesterday. The way I'm doing a Kodak commercials that I lived. We're still a granted sound on the blink and I follow this link matters prom. All right. I'll make sure I take a lot of pictures for you. Anyway. Camille Asala czar, directed pivot this week. She's new to us welcome Camilla, his shot Kirwa is the show's executive producer. Thanks. Also to Eric Johnson. Thanks for listening to pivot from box media would back next week for another breakdown of all things tech business. Please writes us on Twitter, Scott loves it. You do. Anyway. Thank you so much for coming. And I'll see you next week. I'm very excited for lunch party, and I promise I wear clothes, and everything will be. I wanna thank the sponsor of this episode and this year's code conference, China understands that your business would be nothing without your people. That's why they helped you with all things HR from payroll to compliance. So you can take care of all your employees from the insurance to the C, suite find a full range of HR solutions that grow your business at China dot com. That's T R. I N E T dot com. Trinet, incredible starts here.

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Hate on 8chan and why Scott's not quitting Equinox

Pivot with Kara Swisher and Scott Galloway

40:05 min | 1 year ago

Hate on 8chan and why Scott's not quitting Equinox

"Ever wondered when we're going to have true human level artificial intelligence or when we say machine learning what does that really mean anyway away and how will it shape our future get answers to those questions and more in the end of the beginning a new series from samsung next exploring the technology shaping tomorrow morrogh so you can learn what questions to ask today watching at samsung next dot com slash beginning on crooked media's weekly podcast keep it hosts ira madison the third and louis versatile discussed the latest on the ever colliding worlds of pop culture and politics recent gifts include kristen in bel jesus and merrill mandy moore big frieda and busy phillips listen now and get the hottest takes on what's happening in the world of pop culture and politics today new episodes of of keeping drop every wednesday subscribe on apple podcasts stitcher or in your favorite podcast app hi everyone this is pivot from the vox media podcast network. I'm cara swisher. This is scott galloway equinox member our first topic topic now. We have to talk about that. I'm very depressed long. <hes> there's a lot of we'll get to that i i we're gonna talk about the most depressing story obviously which was a man shot and killed twenty two people in a shopping center in el paso texas at a walmart in fact and is one of the several shootings this week. There are others in gilroy california and dayton ohio but we're talking about this this awful topic. There's a tech angle. The police say about half an hour before the el paso shooter opened fire. He posted an anti immigrant anti hispanic manifesto on h chan scott. What have you ever been on four chan or h. Any of these sites are having care and i'm barely. I normally even know what they are. Can you give a brief overview of what they are. Yeah what happens is these these sites. A lot of people have been sort of shoved off of other sites and so they they coalesce around a couple of these sites one of which was started by someone who wanted a full free sp uh-huh fortune was not free speech enough and so they went to a chan- <hes> and the guy who actually founded at once the once it closed down he thinks it's negative for the world and negative for the people who use use it but it's a place where they can post manifestos and trade in hate and you can say anything you want and so it's it's used for these killers as havens for killers to post their opinions about what they're about to do so should be shut down <hes> yes they do i think they're they're just havens for for killers alerts and racist and everything else and i don't know i don't know how you can shut them down but i don't think that other companies should be supporting them and there's a lot of companies <hes> ah that that support them essentially <hes> one of them which was cloudflare which is an internet infrastructure companies really a security company <hes> on sunday the company company cut off service to eight chan move that was only done once before for white supremacist site the daily storm or if you remember <hes> at at first cloud fair <hes> was saying hang. It wouldn't do anything this time. He the guy who runs it matthew prints <hes> was a staunch free speech advocate but then it changed its mind and critics have been asking king. Why is it so different than christ's church or any of the other awful things. Eight chen is hosted in the past so you know it's a really bad situation. It's a really problematic guan and let me just play this. I love to get your thoughts. Two years ago on my old podcast embarrassed to ask an interview the c._e._o. Of cloud for matthew prints who has done the shutdown this because after they pulled the plug on the daily stormer and even then he was deeply conflicted. Here's what he said. Analogize pre internet world where if hugh imagine that ma bell is listening in on your phone calls and decides at some point you're talking about something that doesn't serve either their political moral economic interest chris and they unplug you from the phone network that that doesn't feel right. I think we need to have a conversation about if we're going to regulate content online fine where is the right place to regulate it and and i am the son of a journalist. I believe deeply in free speech. That's what we talked about it around the dinner table. I it's one of the things that makes this country so so powerful but it doesn't have the same force around the rest of the world. What does on the other hand is an idea of due process an idea. There are a set of rules that you should follow and you should be able to know going into that and i don't think that the tech industry has set of due process arbitrary and and we didn't follow principles of due process in this case yeah so look i. I have a a a back story here. A few years ago a few years ago ten years ago i was put on the board of eddie bauer by the debt holders or somebody equity holders and it was about to go on a reorganization eddie bauer bad merchandise. Ah dusty brand poor execution that thing was going into bankruptcy but there was still value there so we went through this auction we try and get stalking horse bidder and then find someone to buy the firm trump and at that time the highest bidder was affirmed it just does licensing meaning that they would fire everybody and then just licensed the brand and produce reduce goods overseas and crappy well not always but typically not the same quality as vertical manufacturer and and twelve hundred people were going to lose their jobs and we decided to reopen the bidding process to see if we could find someone to buy the company and hold onto most of the employees and the hedge fund manager or a twenty four year old they gave me a great lecture about the invisible hand called and said you're not doing your job yeah the fiduciary obligation to shareholders full stop and you're not there to pretend you're social engineer and i called a guy named stuart stein and i think it's important that young people always have a kitchen cabinet people on their shoulder when they're trying when they're dealing with business or personal issues choosing this guy was part of my kitchen cabinet and he said well actually scott when a company goes towards bankruptcy anders what's called the zone of insolvency where your fiduciary obligations aren't just just to shareholders but there to the debt holders and to the community and the employees and i think slowly but surely companies have moved towards this notion that their board of directors producers serious for stakeholders not just shareholders and what i find him. Business in our society is that we have what's these kind of comfort absolutes where when we're faced with difficult decisions we go first amendment or oh just represent shareholders and the reality is the world's not that simple and you have to take into mind other stakeholder so i find that when people wrap themselves in the first amendment blanket or censorship blanket what they're really saying is. I don't wanna have to think about nor defend this really hard decision and i think in the case of these organizations stations especially something like h._r. Fortune if it's what you say it is unless it's a trap unless it's a meanest flytrap for domestic terrorists or pedophile. I say that companies have a responsibility to have a thoughtful conversation around whether they want to engage in supporting that organization so i i like the fact that we're moving away from what i'll call. These comfort absolutes yeah. I agree with you. I think it's a really difficult problem. What's interesting about matthew prison in his quote. It just drove me. He's an interesting man and i had a very good <hes> interview with him but he's very typical of the silicon valley types where they they don't want to take any responsibility for anything they want all the benefit and they don't they don't wanna make any hard decisions decisions and one of the things that he said in his coaches irked man i in fact i wrote a new york times column about it was that he he goes finally enough is enough and i was like whoa hey do do enough has been enough for a very long time and and they said we need to start a conversation about online hate him like we've been having it. It's just that you refuse to do anything about it and you're in a position a power here and so it was sort of the whole the whole encounter irritated me <hes> and i it's so typical of these tech companies which are just literally abrogating responsibility at every step of the game and benefiting from them at every step of the game and they have these things have impacted and the other thing is why dump daily the storm and not this one why do this and not this one and so <hes> you know they really have to have some rules that they keep in place where these these sites are either. They're toxic or they're. They're not going to support them or they're not and that's i don't know it just seems it needlessly difficult. We're gonna as consumers these. He's gonna have to recognize that occasionally. They got it wrong. You're times uh-huh got their headline wrong because they they have to make discretionary calls around the stuff. In discretionary calls means that you have to say all right if they're making discretion and crawls occasionally gonna get wrong. I knew no matthew he came and spoke to my class started as a pretty nice thoughtful guy and by the way just purely distinctive the ethics here. It was a brilliant move from a branding standpoint. I mean he's he's got. He is now or cloudflare is now seen as this kind of righteous. Start your wha household name. It was a brilliant move strictly from a p._r. Standpoint but going back to the gun issue and i promised myself we we keep we keep promising each other. We're not going to tell them the politics. Go right ahead you have. I mean obviously you hear these this these gripping stories about a woman who's bleeding out of her head because she's miss shot in the head face timing her husband and the only in a her last words. I need to get to my kids. Yeah i mean the unimaginable horror on this kind of i circle of victims but i i mean i want to somehow figure out a way for mitch mcconnell the feel the disaster the empathy and the stress that it literally did it creates across all parents. My kids school now has a guy as of six months ago on campus sitting around looking at his phone that has a sidearm and he just sits on campus hoping and waiting that some and i call him okay. You're now the guy you're the first guy that gets shot. That's what you are. If something terrible happens here but it's really it's not to protect the kids. It's to protect the parents who are in a state of hysteria area right now and the amount of stress. It's like i'm going to antarctica this week and of course the moment. I decided to go to nantucket. There's the beaches are cleared because there's a great white. My hi sean my son and his wetsuit. Literally looks like a dinner bell for shark week and all i can think about is okay. I can't how how do i. How do i not let my kid into the water and i'm just is totally stressed. Out the amount of stress the guns causes parents across this land is extraordinary and obviously the victims so you know those people's lives and the lives of their family room but the amount of stress and heartache this is causing across america is sort of a it's just assistant calculable arguable. It's this is so strange and i'm curious. I don't see a lot on okay. Well what can be done. We're sort of all outraged but what if you today decided i mean other than registering to vote or or making a donation to the to the the servicemember who's running against mitch mcconnell. It's what do i think if i was doing. Ban assault weapons woke here. But how do we get there you and i are they did. They did it in the clinton administration they did it. They did it they did it. They just let it laps and shootings went down considerably like no doubt it works more guns more guns less us. It's pretty straightforward. We don't have a monopoly -opoly on mental illness or video games. We have a monopoly on mentally. Ill people with access to weapons of war. I mean it's straight fucking math. Well anybody with them. I honestly it's it's just it's it just ban assault weapons to start with and you know they were able to. I mean trump was able to ban <hes> bump stock executive order. You know i don't know it. Just it's just the the whole thing is just it's it's what happens they rely on our ability to get exhausted by and not be so exhausted that we don't and that's the issue and i'm a right right chopping. Keep forgetting about it so that's why i find these people ultimately so cynical about what's happening now the same thing is this <hes> the thing you made a joke about economics and it's weird pivot to make but it's the same thing that that this guy who runs <hes> debrosse ross he owns hudson yards which everyone pours in new york apparently <hes> and <hes> he also owns a number of brands that are you've talked about this issue. I was thinking about you a lot. <hes> bluestone <hes>. I think it's creamery. He'll mahfoud girls. <hes> your yoga soul cycle cell cycle equinoxes you you use economics is so cycle and he is giving after the week of the racist rant tweets by trump. He's still giving this giant hamptons party the most elite place place on earth <hes> for for president trump and <hes> and his <hes> it set off a flurry on the internet yesterday among people who use these things because most of them. Are you know the elite lead the wealthy people who did not know this was going on and then people did thoughts well so let me ask you <hes> yeah well you go first and august second. Does it impact does it affect your affinity and likelihood tune patronize cycle. I know you anymore. You've done <hes> yeah. I just. It's dumb. It's it's it's a discretionary purchase. It's expensive. It's plenty of money and so i don't need to do it. I don't need and even though they tried very hard the c._e._o. Melanie whale and who i liked quite a bit <hes> had put out a statement that said you know none of we don't we don't agree with this and and we none of the money goes to politicians. You know he's a passive investor. He's the owner he's like. He makes like so. It's kind of really hard to the same thing. Equinox economic issues a crazy amount gay people and stuff like that like the whole soul cycle is supposed to be for diversity and women and you know i put it akin to like if rose macario cario of patagonia which has been selling its environmental record intern do lawsuits and stuff like that and you buy into that brand because of what you like about it <hes> suddenly it was an oil driller in like in like christine areas of the wilderness to to buy that stuff and everything. I don't know i'd so. I respect that i'm i i. I think you're walking the walk <hes> ma. I'm gonna continue to go to equinox. My decision is going to be i think indicative of most consumers now does talk a big game and then i don't want that little black dress for nine ninety nine from h m which means somebody in bangladesh is working for you know poverty wages and and the supply chain is polluting like like crazy i don i do think there's a distinction between something like equinoxes and soul cycle and patagonia who rests br. It's brand being overtly kind of socially conscious. Just i think equinoxes and soul cycle are trying to be progressive but it's basically just a gym where there's more good looking people wearing more lululemon so they charge a premium caceres they i it does bother me. I agree with you. I it's just it's like they they sell and sell and so they have neon so they still idea what they are in fact their owners complete then i'll go even further than that. I find with progressives like i. I think that we're very good at accepting people. Don't look like us. We're not very good. Accepting people people who don't think like us and forty nine percent of the nation voted for trump and if someone wants a fundraiser for him. I don't think we should be committing economic war against that person i and just on i i. I'm gonna work my ass off to get trump out of office. I'm going to give money. I'm gonna canvas. I'm going to do my part but i think bipartisanship has to go places if if you really think of it as a belief as opposed to just a word. I don't think you can commit economic war against people who happen to support the president and i i don't like them. I think they're stupid. I don't understand them but are there. Were people who hated obama and hillary in does that mean that they should not work with my my companies do they have boycotting is an age old tradition. Everybody it's been going on you know remember anita bryant in the orange juice with gays and this is not an unusual thing to do like chick-fil-a for example super anti gay my kids eat. I let my my kids eat it all the time. I tell them what it is. They make a decision right they they. They think the chickens the best ever so. I don't need it so i think people can make individualized decisions without when i think the left does all the time as we constantly the ones giving in and saying we'll try to be more partisan when the other sites never does look at their behavior of mitch mcconnell this week. He's just not gonna pass it so if he was feeling bipartisan and i think it's an important thing to do it and so it's we get played constantly on the left by the right constantly now that are vowed myself as someone who's gonna continue to go to equinox. I have to enter enter the fitness protection program character fitness protection program. You go ahead. I just think everyone should be able to choose. That's all people can make their choices and i think boycotts are an age old tradition addition the right does it. The left does hurt when a lot of people didn't want to go to disney because they had the gay days fine. That's that's your choice. I think it's good percent. Get it so <hes> you. I the apple cart. I'm going to pivot to something happy the appleford. Can we talk about apple cart. Yes please because i've been using it the past last couple of days i haven't used yet. I've just downloaded and think gave it to me early. It's <hes> did you get on the. Did you get on the thing. If you you see yeah that's right but i got on it because i know care swisher but it's great it's great. What are the things you like. I'll tell you about <hes> what i think i like about it. What do you like yeah and i tell you what i think. It came up short and let me do the negative parts which is apple. Pay is not available everywhere. You have the physical card with me because it hasn't been delivered a detainee a._m. Car which i love you because you can also kill people with it apparently <hes> but it's very sharp detaining him card. I don't have it yet so where it is not available which is several places sousse. I've noticed i it's a lot of places but not as many as i thought <hes> and so that's a problem not being able to use it. The thing i like about it is no numbers on it. I like the instant ability to see things where i purchase them. I like the the financial information. They given this app which is really well. Well done <hes>. I like the fact that they're not trading on your information that they don't have it that it's encrypted <hes> i liked that their business isn't marketing on top of making money from <hes> you no interest rates and late fees and stuff like that which exists on all credit cards obviously and i just like the at those of i just trust apple. That's i think that's what it is. I trust them more than other. Yeah that was a great summary. The <hes> and other incredible brand move is going after <hes> privacy and <hes> individual joel who helped me get signed up said we're all about simplicity transparency and privacy and i thought it was interesting that they're incorporating privacy really definitely into their kind of core identity the one feature you didn't mention that i really liked or i really like is that when you get your bill it uses artificial intelligence to badge the location instead of having some funky. Ah merchant code that you can't figure out. Where did i spend two hundred dollars. It says he spent two hundred dollars at this gas station in you know in in ontario wherever and however i asked the individual i said okay this morning. I was literally looking at my amex bill and i saw all these charges on. I tunes and i wanted to know. Are these legitimate what was being purchased because i'd like to know it's my kids use them. I i'd seems account but i want to know a as fraud and beyond into what they're buying and i said why haven't you been able pulled us active and it's a closed network in more than anybody know if they're downloading dora the explorer something else and she's like oh well. We haven't figured that out but which i think is bullshit in other words my senses transparency transparency is great for them until it might reduce the revenues right and the thing that the thing that would be easiest for them to tell you what has actually been purchased. They've decided decided a. We can't figure that out. I had an issue with that too but go ahead the other thing that <hes> i think really interesting is the security features where your numbers <hes> is. Not a numbers can change because credit card fraud. I get contacted probably two or three times a month. Via text message saying was this charge yours and if it's less than twenty or thirty bucks folks i just say yes because the idea of having my credit card shut down and then re-registering across all the different sides such a pain in the ass that i've decided attacks ex- worth pang is to have a little bit of fraud on my card a little bit of fried that doesn't that's where they test it and then they buy a big thing like a boat your here's the thing when they say they're calling you for your the protection. No they're not. They're calling for their own protection because you are not liable for more than fifty dollars. You're not liable for any fraudulent charges on your car so when they call you and say we're going to shut it down to make it a pain in the ass for you to reregister everywhere for your protection. It's not it's. They're covering their own ass. You're not liable for me in any case. It's really simple. Which is what i really liked about it. When we get back we will talk about facebook scott. I'm take a break and we'll talk about wins and fails predictions for the week. We'll be back after this. Today's show is brought to you by ziprecruiter when you're building a team. 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That's the power or of edge to edge intelligence learn more at a._t._t. Dot com slash edge to edge got back. Are you there scott galloway. I am working out at equinox because your your class traitor <hes>. I'm calling according to a non gear didata. I heard the call i heard i guess i am so facebook. Look we were discussing earlier. They're rebranding. It's what's happened is trump to be what's at by facebook and instagram by facebook speaking of brands like using the apple cart because i trust apple. Oh my god now. I wasn't using instagram. What's now. I'm really not using instagram and what's this isn't fail. What do you what do you think <hes> yeah. I my mind which which is blown ice because typically when you have brands with this type of equity you don't wanna pollute them and right now. Facebook has some baggage instagram and whatsapp are pretty clean queen brands and facebook's amazing brand because of its ubiquity and it does have a lot of positive associations and people interact with it every day but there's some baggage there right facebook has has been dented and banged up and creating sort of this master brand or sub brands turning what's up and instagram into sub brands. It usually would go the other way and and all so this doesn't make business sense except that what it does is it does two things wanted outsmart zuckerberg's. He clearly thinks facebook is kinda. The lead dog here and it's really really all he cares about and he doesn't have nearly affection for the other brands to the extent he's willing to damage kind of billions and brand equity but too i think there's more machiavellian than that and that is i think he's trying to again when conjoined the triplets and make them one entity such that if and when the or the f._t._c. and the d._o._j. Get their act together and come in and start talking talk about breaking them up. He didn't say well. If you're trying to separate us now you're gonna kill the entire baby <hes> so they're trying to pull things together such that they can claim well. The spat spaghetti can't be unwound otherwise it killed the entire company. I think this is a prophylactic moving against antitrust think the d._o._j. What is your thought stupid. It's really stupid. These these are such powerful brands either global. Each of these brands is probably one of the twenty or thirty strongest brands in the world right now in the idea that you would make them less distinct and and create that <hes> do away with that diversity of asset base is just it's just it's heresy in the world of branding that you would take three amazing brands <music> together. It's just weird. It's like i. I don't know what the equivalent would be. It's like lexus or toyota saying we're just going to call it. The toyota lexus well just has a distinct ain't identity and a ton of brand value. Why would you start polluting and confusing both brands so makes no sense from a business standpoint. I do think mark zuckerberg's brilliant businessman and i think he decided that the brand equity that they will sacrifice is <hes> weighed by his ability to claim that they're one company and you can't break us up or are you so. What is your failed the week. I think i know what he's doing and i think it's a bad idea. That's my fail. I think it was <hes> you know i. I think the facebook spoke brian i i it's a lesson in really poorly managed brand architecture. It just doesn't it doesn't make any sense and i hope that i hope the f._t._c. in the d._o._j. Send a letter going back around saying. I mean just because you've decided this is one brand doesn't mean we're not gonna come in and break it up. Should we decide. That's the right thing. I think that was one of the things that obviously off. Also this week facebook wrote to congressman. David cecil lean gene that tick tock is a serious competitor in two thousand eighteen it was installed more time than either facebook or instagram and obviously sizzling who's going to be on the podcast soon as one of the democrats who's thinking about with facebook should be broken up so they're now trying to make a competitor like that's again. That was a fail to me like facebook. You really have to stop like a._c. They're doing they're. They're definitely making moves because you know the government is <hes> is moving in on them one hundred percent. What's your what's your failed this week. Fail this week for me is is the the activity around google the accusation that google's traitorous again the continues by the trump administration the peter thiel <hes> and they were pushing the idea idea. They're gonna they're investigating google because they discriminate against right-wing employees and they focus on a right-wing employees kevin <hes> sir naqui who who is of course was on fox news which got donald trump attention <hes> you know and then he started on the suppressing negative stories about hillary clinton and trying to undermine him and i just think this this is just not a defender of google most of the time but in this case this ridiculous. It's a ridiculous attempt to do business to be a politics well in this guide overshadowed again with all the mushroom clouds and dumpster fires everywhere but supposedly trump is considering an executive order around these platforms add forms an executive order to try and diminish or or to try and reduce the amount of conservative bias at what it's like. Okay how what's that gonna. Look glad i mean you wanna talk about our head. Start spinning around first amendment in censorship when the president's gonna put out some sort of executive order yeah. I can't imagine the mechanism. I just don't see how on earth that would happen well the fact that he's doing. It's like between fox news and peter thiel. This is just insanity again to defend a giant. The company like google is not my easiest stance but in this case. I think it's just that that thing executive order to do that without any proof whatsoever except for this idiot who worked at <hes> google who you know whatever it's not. I'm sure it's not great to be there at yours at social hours. If you happen to love trump i so what yeah like so what works somewhere else or just you know say your piece and then argue with people but this idea that he was discriminating against just because he doesn't you know the there's such talk about like snowflakes snowflakes what else that's what they use the term snowflakes so <hes> that was a fail for me this i don't. I don't know where it's going to happen but it must be very concerning being to google. It has to be very concerned win. <hes> a win. Yes i actually <hes> the new. I tweeted about last night the beanie friedman. Did you see book smart. I love book smart so much. I'm so sorry didn't do better <hes> but she's an amazing actress she just holds the screen like nobody else she's also from lady bird and book smart and she's gonna play monica lewinsky in season three of american crime story about bill clinton's impeachment and monica lewinsky is one of the producers i just. I'm so excited about that. I i don't. I don't get excited about that much but i think it's great nice nice. You have to see book smart. What's your when you know. It's funny on the way over here. I was trying to think of a win. I don't have a win and i'm like it's my right not to have a win and my question is it's strange you mean when nine eleven happened. There was a pretty large cohort of people that had serious anxiety or couldn't fly. I never understood that. I was here when when it happened. I thought okay if you know someone that was heard or nationally known was her people were murdered. Very few people got injured. They were either survived or they're killed but it sent a large portion russian people into a funk right and which is understandable but i never really understood that in this these shootings. Everyone knew i saw i saw the buildings. Come down. I mean i was right there and i just i know that sounds terrible but i just thought it was obviously tragic but it didn't put me into any sort of depression or causing anxiety and this shooting. I don't know if it's because i'm getting older but this these shootings this week have really sort of rattled me and i'm trying to figure out is at the age is it having kids leads. Is we get to finally developing overseas sense of empathy. What is it about events. <hes> and i would love to find the you know the premier cycle. What is it about certain events that you're not close to have an impact on you versus those that don't but this feels like this one was different. I don't know why was it for you did this. Has this like i so now. It's just an ongoing feeling of depression over the fact that this is a depression corrected that this just doesn't and it gets it gets ratchet in ratchet up and you are constantly pushing back on. What is you know racism like you know and then and then you have a group of people like i don't like tucker carlson for example. I'm just gonna gergo. He should stay fishing <hes> who were just like. There's no such thing as and when it's so clear that it is you feel like you're being a pro propaganda being manipulated. You feel like you're living in soviet russia. Yeah and you know how i dress in fix my depression equinoxes. Here's the thing keira as long as he's white man we are happiest when we are in motion shen and surrounded by people we love and i wanna give a shout out and as you said you still have back fat number you go there you go but you know what when i got a equinoxes three the times a week i look fifty three and seven eighths nude as opposed to just fifty four. It's working. It's working but <hes> shoutout if you're feeling depressed like me. It's really l. e. easy get outdoors. Exercise sweat with people you love. That's where we are happiest. There's a space christie. Teagan said i'll meet you at the library with weight's going boogie boarding with my eight and eleven year olds truth be told we might be john. We might be a little tasty snack and opine away. What a great timing. I can't turn on the t._v. And see a great white shark like eating the shit out of a sealed. It looks like a little boy in a wet suit. I am a mess but i'm going to go into the water and go boogie boarding but my kids have a worse than you any predictions this week. Shame e. j. I oh i got in my life immigrants down in <hes> in just but i'm so upset for you that you can go now now anyway. What is your predictions equinoxes shame you but i think well for several weeks where we talked about <hes> so i like. There's a a i. I was talking about stocks that i don't that i think are going to get cut in half but the stock that i really like now and i'm looking at if you will or thinking about i i only buy stocks that can give to my kids is stock. We've talked about and i think a stock to watch. <hes> is the real real <hes> i went. They have oh yeah. I think this thing is a juggernaut. I think if you look at some of the companies have created tens of billions of dollars in value the monetize these fallow asset whether it's cars or apartments and the real real <hes> is i think there could be something i think this could be if you will <hes> thirty fifty hundred billion dollar market cap company and i think it's built some moats around. I don't think they're competitors of that strong. There's a network network fact explosive growth using the internet and they've also similar to what uber's done but in a better way figured out a way to assemble a group of <hes> <hes> humans or organic intelligence so my prediction is <hes> we talked about <hes> beyond me getting cut in half and i got a bunch of crap on twitter for always being debbie. The real real is <hes> is going to do really well julia wainwright. I covered her for many years but she had several companies where this including pets.com where she got killed <hes> and and what didn't really make a recovery for a long time i've not really she's actually coming to code commerce in new york <hes> in the big in september so i'll be interviewed there but i've known and her for a million years and this was an i d. I put up the email. She sent me when she started she was. I've got this kind of interesting idea finally and talked about it and said you should come visit our warehouse when we started doing it and so i'm really happy for her that this is worked out and it does meet a need that is a it's a nice clean company. That does like exactly a very very helpful thing to a lot of people the whole idea of clothes and i think i'd like to talk about this next week the idea of actually owning clothes and how you move what you own around. I'll be writing about that next week with that. You can rent everything scott but it's a great company right and she's really terrific interesting very interesting and one of the few female ceos <hes> in in tech related company <hes>. I'm gonna make a little prediction disney. The disney stock getting cut because of the earnings and stuff like that. I think is gonna do just fine and it the interested when they roll out this. They've had a bad history on the internet so i'm really excited to see what they do around this disney hulu e._s._p._n. Stuff and and and how well they're gonna do it. We'll see they're really great and content. They have seven of the top. What ten movies i. I think the worries about the or premature. I like your prediction more and i don't know if you saw but yes they announced. They're moving towards this grand bundle. They're bundling disney plus e._s._p._n. And hulu ad-supported hulu for what exactly exactly twelve ninety nine the same price as net flicks so they're moving towards us grand bargain prime life offering which is absolutely they should wait again <hes> the way to go but yeah. I like your prediction and more i think the i think the market got off five percent after the earnings call because let's be honest this bundling and recurring revenue bundles are just extraordinarily expensive but i agree with you. I think it's gonna come back. It's a they have had not much success on the internet. I've written about all dig and everything else but and they had to think starway. They had all kinds of they just had. They've never really really been that successful in internet offerings but i have to say bob eiger has been early to it. He's been trying at it and i think he's he will get it right. I if there's any f- there's any media executive -secutive who will get it right. I think it will be him. That's hundred percent sweet care whereas i'm on the cape with the sharks and i'm assuming that much so i'm i'm totally save <hes> i also the bill simmons podcast and trying to compete with all your podcast. You're dealing with other cheating on me so i cheated on you with bill simmons who was brilliant l. e. and also john lovett last week so i was i was around. I want i know but that's that's like okay. I go play tennis with my friends and you go to wimbledon. Simmons simmons and john levitt those interview a president saying that stop candy. We're we're teasing. Oh my mom was going to buy a rabbit coat. That's that was that was a luxury item. The gallery household a rabbit code. We're still waiting on that rabbit. <hes> you're going to have a rabbit code scott galloway. I'm going to get your ram. We're going to such a good time and you have to like behave and has good questions good. Let's let's see for. I'm an atheist economically secure. I have a core group of people who love me. What the what's the point of behaving narrator cancer mohammed ali kirk obey. My heroes all have one thing in common circle slash behave right okay that note have a beautiful talk to you next week have tried to be careful when you swim in china too bright colors kick with your little feat bait sharks. We have done so much crap to sharks. I'm terrible well. There's a big push back against and shark week for being sensationalist on the bottom line is for every for every individual. It's it's been by a shark about a hundred million. Sharks are killed by humans. We fucked with sharks arts and i feel like they're tired of it in any case <hes>. I don't want anyone to get bitten. Obviously but sharks have had a harder time than i think people have most for the most part the very lefty this week anyway. Today's show was produced by rebecca synonymous and eric johnson erika again. Anderson is pivots executive producer. Thanks also to rebecca. Castro drew boroughs in new shot kirwa. Make sure you subscribe to the show an apple podcasts. If you like this week's episode leave us a review view. If you have any suggestions for what you want to hear us talk about on a future show probably we won't listen to them but send us an e mail pivot at vox media dot com. Thanks for listening to pivot from vox media back next week with another breakdown of all things tech and business. Hey jason doray and i'm hosting a new podcast land of the giants season. One is called the rise of amazon masan and it's about how jeff bezos turn what was a little online bookseller into one of the biggest companies of our time. We'll ask why is amazon building microwaves wave powered by alexa and why is it making all these robots and we'll tackle the biggest question of our time is amazon too big too shoe powerful land of the giants from recode and the vox media podcast network new episodes come out every tuesday. Listen and subscribe for free on apple podcasts or in your favorite podcast app. I'm musicologist nate sloan and on songwriter charlie harding. We're the hosts of switched on pop a podcast about the making and meaning top music every week nate night breakdown. The most captivating hits trends and artists to understand dan what they're doing what they're saying what makes them so infectious. We speak with some of the world's most interesting musicians songwriters producers and journalists tells us better appreciate appreciate the songs that surround us and the ways they change our culture. If you love music you're going to discover something here opening and switched on pop so join us subscribed to switched on pop fur-free on apple podcasts spotify or in your favorite podcast app.

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