28 Burst results for "scott galloway"
Business is booming for tech companies during the coronavirus pandemic
"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
What Will Amazon Do Next in 2021?
"The other day announced a new ceo. And so we're is amazon. Going in two thousand twenty one and how can small business owners actually participate hit. Help is jason boys. A season entrepreneur and nationally rise x. nationally recognized expert on amazon. He's considered the world's leading expert in dot com third party sellers. He's the founder and ceo of avenue seven media llc a seller group that harnesses the power of amazon for direct to consumer product brands. He's also the co author of the amazon jungle. The truth about amazon and the sellers guide to thriving on the world's most perilous e commerce marketplace jason. Welcome to the show. Thank you bury. Congratulations to you. Six hundred and twenty six show twelve years you know. He started with just one person. So tell me how you've been doing during this pandemic. Our business has been booming Amazon scott galloway came out and wrote a book about The pandemic amazon a company that was built for something like a worldwide pandemic and they've benefited greatly and frankly so's my business. Because so many small businesses that had regional brick and mortar retail store outlets that. Just shut down on him and folks were were kind of on the fence prior to the pandemic called and said jason get amazon tomorrow. Can you help me so our business has been. I mean we keep up very hits been it's been You know a bittersweet story. It's good news that our businesses doing great as results pandemic. But it's been a really difficult time for everyone. Any recession is always winners. And there's losers. But i tell you one thing jason happen. This year that i never thought could happen in relation to amazon. I couldn't believe they couldn't deliver in two days. Came buried i. I made some predictions in early october. That fda and amazon delivery network was going to break. It ended up not breaking but they broke the post office. They bury them with so met much volume that they literally couldn't couldn't handle it and you're absolutely right. There were very few packages that were delivered to people's doors within two day window within that one day window even still though what they did. This holiday in terms of ramping up delivery final mile warehousing added fifty percent of square footage and like four months. I mean it's historic area. It's pretty incredible what they did so just recently announced. Jeff bezos is going to step down. Ceo and there was a joke on facebook. That says well i guess he's fully invested 401k. Now that's why he's stepping down. But one predictions you have for twenty twenty one with amazon given a new ceo and the hopefully the winding down of the pandemic. Yeah well you know. I hope jeff vases is going to be okay with the pay reduction. Moving from fulltime. Ceo to just executive chairman. You think you'll be okay hope but yeah you look i. I don't think that amazon is going to miss a beat. You know the minute. The announcement came out which by the way was interesting enough announced around the same time as their blow out. Q four earnings call Historic in its own right Potentially to deflect which amazon's pr department is really good at About how great they have benefited in his really tough time for our country But look amazon's not going to miss a beat andy jazzy. Jeff clone bleeds amazon. Blew has been basically attached to jeff bezos hip for more than twenty years. He's an incredibly talented competency. Oh who took. Aws from zero to fifty percent market share in the cloud. Space according to gartner so He's incredibly talented. He will help Execute on jeff bezos division. Basil's we'll take a back seat behind. The curtain is gonna shove jesse in front of congress and answer. All those difficult antitrust questions and basis is going to work on what he loves doing which is invention and future technology. Whatever amazon looks like five ten years from now will have been developed from. Basil's mind so he's not going anywhere. He's just removing himself from some of the shall we say more uncomfortable task. It's going to land on jesse's lap in the next You know one to ten years. As i trust drums or are beating louder and louder. So let's talk about some of the trends that you've been discussing Tell us about how you think. Amazon is getting into healthcare. They are already in healthcare. I mean they're providing primary care for you know scores of their own employees tens of thousands of their employees they They famously removed themselves from joint venture with jamie diamond and berkshire hathaway recently In the rumors from within inside amazon at the reason they did that is because they were holding back and the amazon pharmacy group which spun up recently. we're saying we can't move fast you know. We can't move fast because we're being held up by chasing in berkshire hathaway. So i saw that. A lot of a lot of people in the press came out berry and said oh. This means amazon can't figure out healthcare. It's too difficult. It's too challenging. I didn't see that at all. I just saw that you know amazon. Saw this as cutting weight so that they can really focus on what they do. And that's innovate
Big Tech Funds a Think Tank Pushing for Fewer Rules. For Big Tech.
"Dig. Tech firms are schmoozing regulators into to not doing their jobs. Thirty four anti-trust officials were wined and nine last year by the global anti-trust into the suit, a part of the Antonin Scalia Law School at George. Mason University in Fairfax Virginia basically don't regulate us. Please enjoy this delicious meal. Global Antitrust Institute is funded mostly entirely by big companies affiliated foundations including Amazon Google qualcomm George Mason I covered it when I was at the Washington, Post they were always doing this kind of thing like putting up, you know. Being very friendly to corporate corporate citizens as I recall during this time when they were just getting started. Trying to attract a bigger level of professor there and so talk about this Mr Academics in terms of these things that get funded at universities, you institute Scott. Galloway Institute of Jabal Thank for example. That's right. like it's it's were. Universities are not immune from the lure of capitalism and a big component of. Your ability to get tenure is to get research funded, and it's difficult if you WANNA know. If. You WanNa. Know the outcome and a conclusion of research. Just find who's paid for it. Yeah, and in the case of most academic research. It's a lot of times it's funded. By nonpartisan sources are the university itself, and so if there is a a lease bad version of peer reviewed research, you're GONNA. Find it typically universities, but these think tanks if they're funded by. Certain And we have him on the left care we fund. We found groups to do research to basically support our know our narrative so i. don't think this is anything unusual. The question is abound power in that is. In addition to this think tank Sarah now more fulltime Amazon. Lobbyists making I would bet somewhere between four hundred eight hundred thousand dollars a year. Then there are sitting US senators now one hundred full time lobbyist from Amazon living in DC, taking all of these nice women and men to to golf into dinner and saying hey, we just a big fan of your leadership. We fight to get involved in your campaign by the way when this whole antitrust off comes up. We assume that you're you're for capitalism. Your four consumer lower consumer prices. And this is the danger, but I don't think these think tanks. We have on both sides nervous now whenever I time talking to one today and I was like Oh, where did you get your money? Like I never thought this like in terms of. The university and I was like I'm going to have to check in case, I'm. Saying something that sounded reasonable, but it was sort of like who's paying your bills and you know there was some controversy around some of this Kobe testing of where these these researchers have, it just feels like a lot of steph feels. Bogus like. It feels bogus when they're doing this and they're trying to influence, but I think many some universities are doing real research. Others are much more pay for play and I think that's that's really when I was a does. You've inspired her synapse farmer talking about this when I was? Five years into my Nyu Kerr invited me to a meeting where they were talking about doing some research about around financial markets and the impact on IPO's and They admitted meeting. And there was someone from the Nasdaq, and they were willing to fund it Funds Research and fund even fund center, and as one of the guys in the meeting Professor Bruce Buchanan who I think's one of the clear blue flame thinking economists in the world you know at the end of the meeting, said a not comfortable with the Nasdaq taking money. Money from the Nasdaq for research around the financial markets, because ultimately we're. GonNa end up saying that that the Nasdaq has the right you know. He just wasn't comfortable with private enterprise being injected into academic research, and then the meeting ended and I was like what the hell are you thinking? We have an opportunity to go great research here. Don't so pedantic. And as I've thought about it I'm wrong and he was right. Yeah, you can't help it. You can't help, but if they're paying for like all the smoking ones so much damage in terms of like smoking wants. We're like cigarettes aren't bad. That went on for a long time and Whatever the whatever the research is, it just seems like if it's cooked, it's cooked then. How do you pay for like the university should presumably just pay. Pay For right and live and die on the quality of the research, but that's sort of naive. I suspect you in the majority of about any sort of fifteen year overdue apology to a Professor Buchanan Vice. Chancellor Ingo Walter felt the same way that this was just. This creates too much opportunity for bias research so anyways. Net Net in it's a sample size of one, but Nyu takes that got role being a neutral arbiter very seriously. and. You have these funding you know. I'm thinking of all the different organizations are they seem like the like their criminal justice stuff Very Friedman! It feels like it's really good research right now, and that's the thing it's like who you have. They should at least be very clear about who's paying for it, so you know and and what they might turf. What what the what reports they might put in the drawer like the government is doing right now,
How the Crisis Could Embolden Big Tech
"This week. Microsoft Apple Amazon Alphabet and facebook all reported their quarterly earnings typically investors view. These numbers as a way to measure how companies doing and the prospect of money to be made in the future but with the economy in disarray. These numbers tell pretty singular story yes things have slowed but they're nowhere near as dire as what other industries are seeing. Do you think these tech companies view earnings right now as as a one off you know just sort of a singular news event or are they something that can tell a broader story about where the companies are now in time. I think they're probably not beating their chests from what I've talked to people inside the companies. There is caution because nobody knows when the bottom is gonNA fall out. No one knows what's going to happen to the economy in on that creates anxiety for companies like Google and facebook that make all their money from advertising and the big advertisers are the brick and mortar world. You know the department stores. Even though they're failing the travel industry will there? That's tanking but at the same time like I'm unlinked in job alerts for Google and they're adding thirty jobs a day and facebook saying it's GonNa hire ten thousand people well if you're working at that kind of company are you gonNa feel versus anywhere else in America right now. Well that's the weird irony and you wrote about this saying that the pandemic is sort of a once in a lifetime opportunity for these companies. What are the I? Guess the specifics of that why they are able to do things like hire ten thousand people if your facebook well for one goes back to the cash reserve that they're sitting on Microsoft alone. I think is worth one point three trillion dollars to give some perspective that is bigger than the economy of forty seven. Us states these companies have just amassed the level at which they have profited since the great recession is just. It's really profound. You Know Amazon. Could buy all boutique retailers in the US right now if they wanted to so they're sitting on all this cash so they have a fallback. I mean look at Boeing. It's a major. Us company they're cutting tens of thousands of jobs. That says that. Tekken away in a class of by itself when you look at other major American companies and how they're faring. It's not just the mom and pop. Businesses that are laying off people. It's major American companies. That don't have the cash runway to withstand a crisis. These enormous cash reserves held by just a few big tech companies are the result of years of growth. Elizabeth says if you trace these reserves back to their source. The story begins during the last economic crisis in two thousand eight during the great recession the whole economy the whole market took its lex but what happened afterwards is very interesting because the great recession also coincided with the advent of the smartphone so just remember like smartphones. Come about people start using their phones for everything. Two Thousand and nine people start developing apps years later. People are using APPS for this and that but no one's really shopping on their phones and this is a big question around. Will people buy things on their smartphone? Well that is something that facebook and Google figured out to great effect and once they solve that question you really see their revenues just start to completely accelerate and kind of just catapult ahead of the rest of the digital advertising industry the tech platforms become the hubs for all of our reading habits and material and also on the back end all of the measurement and delivery of ads. And so people woke up to that. I want to say twenty and fifteen twenty sixteen all of a sudden you have these tech giants and everyone else's failing and the recession. That's Kinda come because of Cova is going to accelerate that so it's a lot of the same industries when we think about you know who was decimated during the great recession brick and mortar retail. Hospitality Media That are laying people off right now and tech is really taking over a lot of those spaces and certainly did back then. Do you think these industries can can weather this or is this. Just a truly transformational moment. Oh I think it's a truly transformational moment. I think I have to paraphrase Professor Scott. Galloway of nyu is so stupid on all these topics and he said you know. It's a tale of two Americas right now. So it's big tacking. It's everyone else. Everyone else includes not just other parts of the economy but smaller companies within the tech industry. Not only the giants have the cash to outlasted economy put on pause but also the ability to work actively to edge out competition for the services that people are still using when we think about other parts of the Silicon Valley ecosystem. That aren't the big four. What happens to these smaller companies? You wrote that you know a bunch of startup jobs. I think thirty thousand have been lost since March eleventh and yet at the same time we've seen companies like zoom. You know really flourish right now. What happens to all of them? So zoom is a great example because right now in this moment everyone's like zooms. The you know the success story of the you know the the the poster child of Success Story. Yeah during Cova. Not that anyone wants to say we're profiting off cove. It and I know they don't feel that way but certainly there's that exhilaration of their business just exploding. I think it exclude ninety percent just during the lockdowns but just look at. What's also happened in the last week that speaks to the power of giants? Google has announced. Hangouts meet they've created their own version of it and facebook is launching their own competitor to zoom into house. Party another APP that has exploded. I think I wrote in the Story House Party. According to APP Annie has grown fifteen hundred percent and so right. Now you're saying well. No one's heard of no one's using hangout. Google hangouts meat and no one's using facebook's thing but just three years from now we'll zoom exist will house party exist. Elizabeth says this moment gives tech giant's both the opportunity to push out smaller competition and capitalize on our new habits and also a chance to deflect or at least delay new regulations that were supposed to take effect this year. One place where you can see this happening is in California. At the end of last year the state passed a new law that would give people control of their data. It's called the California Consumer Privacy Act Law went into effect in January of this year and in California. The law says you can go to any tech company. You can ask them for your data. What data do you have on me? And if you don't like it you can have some to delete it. And so companies have said that there's a lot of cost of compliance with that law and so for a while they've been asking for a delay in the enforcement of the law because if you don't follow the law it comes with big penalties and you see the lobbying groups already for tech saying there's no way that we can comply with this on time. The enforcement goes into effect in July. There's no way we can make it by July. We need an extension and really kind of making that argument and at the same time increasingly on the other end becoming effectively. Essential Services for governments essential because governments are now relying on that same data to track the disease. I used the example in the story of Gavin. Newsom press conferences and he's holding up modeling for the Charting the course of the disease and those models some of them are coming from underlying data from companies like Google and facebook and so especially in California you see it because of the relationship of the tech companies to the state before the state was adversarial with big tax. I mean even when Governor Newsom came on came on board as governor one of the first things he talked about was like data bill of rights for people and it's and yet they're using the data that is collected now to model the course of Corona virus so that minutes office is is a big reversal
Quibi says 'Quit it' - and tells a fan podcaster to stop
"The latest from our newsletter pod News Dot net is a noun or verb query is definitely a noun. I honestly don't know what a noun or is maybe. We'll never find out because a show by fans of quite a mobile video platform has been told to cease and desist hosts of the podcast. Say That quivers lawyers got in contact insisting you can't use the name Qube. You can't tell anyone that you're about qube. You can talk about Quebec but no one can know through your title and you can't have any artwork that resembles our stuff. The show which is about Qube has a new name. Off Streamers search engine optimization has never been more important for podcasting a PODCAST SEO PRODUCT. Poddar has been launched. Today it allows you to ensure you're choosing the right names and keywords feel podcast promises your search rank keywords you want and allows you to check your competitors. Appearance to pricing is from seven dollars a month after a fourteen day trial. Palooza life has announced. Its lineup for this weekend including Kara Swisher Corey doctor. Oh and Scott Galloway. It's a covert nineteen relief fundraiser. Forgive directly tickets as much or as little as you'd like Paul Tracks says the daily has seen a yearly increase in. Us audience of seventy three percent monthly audiences increased by seven percent in the month of March. It's part of their paid for category report Patriot. A crowd funding service used by podcasters and used by US has laid off thirty employees which is thirteen. Percent OF THEIR WORKFORCE ONLY LAST MONTH. The company was claiming record growth for the platform. We by the way our pod mused on net slash Patriot and Edison research and NPR releasing. This smart audio reports which looks at the usage of smart speakers a little earlier this year and a free Webinar. On April the thirtieth changing times mean changing consumption. Vox Nest of released an update on Cova. Nineteen podcast listening across their network. The main claim is global. Podcast lessons are out by forty two percent for comparison to listening in the first week of January a time when many people especially in your holiday the graphs appears to show that all territories of increased though since the end of March and that categories around people's hobbies and passions are doing well. The company does note that as a whole. Us podcast listens had down by over twenty percent however Pacific Content Steve. Pratt highlights different ways. Their podcast production company is thinking. The pandemic has changed marketing. Effective speed to market and highlighted the benefit of topicality and head come has seen a ten percent decrease according to deadline the piece also includes ill-will Fu claim a small decline as well and Paul Cost News. Keeping up with corona is a new podcast on airlines. Iheart podcast network Australia. It's all about how to navigate life and keep the kids sane while dealing with isolation might be interested to know podcasts. Evergreen content is being augmented with the latest information using dynamic content insertion clever radio survival. Podcast has an interview with me. If you're interested in radio across the world and this one might be few if you're off it probably isn't and Iheartradio is getting into audio fiction in the states with the release this week of lighthouse ten part scripted horror thriller
The Tesla Model Y is sized just right, and this will help it stand tall against rivals - Teslarati
"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.
What the Streaming Wars Mean for the Future of Advertising
"Right. So we're heading twenty twenty You've been doing an amazing job In a biased way. Say This uncovering the rise of volley streaming platforms and what we sort of think of the future of TV. I want to look forward to to twenty twenty but I like what what do you think. Twenty nine thousand nine was the year of if you will is your growth like there was a lot of growth of everyone obviously talks about the growth. A lot of people were moving industry mean and and I think that kind of sets up twenty two thousand for that's when the growing pains are going to start but like what's Gimme specifics. Well so in the upfront this year with advertisers and the TV now works digital played a bigger part in getting those budgets because in the past digital had been an add on for the networks and the also the prices had been higher then especially when it comes to like the cable networks. Their digital inventory was priced a lot higher than their linear inventory and so that had been a pain point but now with linear viewership decline Kline in they had to lower the prices for the digital inventory in order to get the bigger volume commitments. So it seems like when we're talking about the streaming wars and a a lot of people talk about distributors. We're actually talking about a bunch of different worse right. This is like what is it the thirteen years war. I don't remember but there. There's a lot of different people fighting writing. So how do you group them. What I'm thinking about is like I'm thinking net flicks is going up against Disney and interest and that is like this Inter Galactic Battle But then there are other battles going on. Yeah because then you have like the Nisha Suad Services and s fat come on subscription streamers But then then there's the free ad supported streaming TV services like the Pluto. TV's Zuma's Samsung TV plus roku channel. I N BTV and that's becoming more of of a war because right now there they all look the same. They all have the same old programming the same like movies that you would normally watch on like yeah Sunday afternoon on cable. TV So when you're looking at twenty twenty. Are we looking at a typical middle market crunch. I mean we're seeing this across pretty much every area we cover in in cross glossy with fashion and beauty and in Monterey retail with retail. I mean we're seeing the middle get crunched everywhere and that's going to happen and folks folks are concerned about it like BEEN MEETING WITH TV network executives and also you know digital entertainment executives and they're concerned about it because they they recognize that that's going to be the case that with connected TV. It's like mobile all over again for publishers where it doesn't really make sense for a lot of these companies to have their own connected. TV CBS because people aren't gonNA use them. They're going to stick with like a Netflix at Disney Youtube Pluto the aggregate. There's right and so there. It's the bundle all over again cowboy What about on the advertiser's side I think we've been doing a lot of coverage around you know some very core basic issues when it comes to connected. TV advertising. Like why the hell do I see the same ad repeatedly and why can And I thought you got into like a lot of the good details but why that what's happening. What what kind of growing pains you expect to see for the industry In Two thousand twenty when it comes to to connected. TV advertising a think the growth is still an issue there when it comes to getting more dollars because there was Someone Outta Holding Agency. I was talking to saying that you don't have to spend and is much when it comes to connected TV because you can be more targeted and because the ad loads are lighter to there just isn't as much inventory to be buy in so for anyone who's expecting gene TV dollars to shift entirely into digital. That's not gonNA happen because they don't have to shift entirely. You actually save money. If you're not retired Sir I mean as a a too simplistic to say that I mean there's so much of this viewing is going on That you there's no advertising involved everyone wants subscriptions right Yeah who has a different model but Scott Galloway talks about advertising becoming a tax on the poor I are we. We seen this actually play out Where there just isn't places for this TV advertising to move to because so much of the streaming viewing is an Anon- at environment? Well you have. I mean who the interesting thing with them is. They're limited commercials. Subscriptions since here is their most popular beer and with like their sprint and their spotify deals they've been doing a lot to push subscribers specifically for that here and so that that serves as something of a model but again then it's an aggregate or thing where people can sign up for Hulu because they'll get a bunch of different shows and movies that they can watch for someone WHO's smaller publisher. I don't know if people are going to be as tolerant of that okay so final thing Working on all these bold calls Going into two thousand twenty predictions right but Give us Keeps winning bowl calls. I think this martine manufacturers will band together and try to negotiate harder carriage deals when it comes to connected. TV with the different media companies. Okay so give me an example of that Well well it's already the case in the cable market where you have like the regional cable providers who they negotiate together as a group and I think the SMART ATV manufacturers are going to start doing that because you have Samsung already selling ads on its smart TV platform Now starting to same and I think more and more of them are seeing. There's an opportunity there because people don't buy. TV's they buy TV's like once every seven years or so and so these smart TV manufacturers have to figure out okay where can we get revenue in between. Ah People buy new. TV's okay cool. Thanks Tom Thank you.
Edward Snowden And Mass Surveillance At the start of this decade
"A federal judge ruled that proceeds from Edward Jones Memoir permanent record to be paid to the US this government because he violated the terms of his employment contract with the US government in publishing the book. You clearly don't follow me on twitter. You're GONNA love this. I wrote real quickly on twitter. There's so many it's with someone. Summarize twitter perfectly as does not pay. I know I wrote espionage a bitch and I know you don't like it when I used that word and so many people weighed in against against me and it's inspired me and as you to learn more about Edward Stone because a lot of people who unless they're bought as far as I know the Russian show is trying to gain my trust but who seem thoughtful weighed in and said you got this wrong. Edward Snowden is a patriot. It's there's much great podcasts. You could read the book. I'm sending you the the book I am sending you the book I'm going to learn more about Edward Snowden. That's your Christmas present. The free book I got from it again here. We go again and going to give it to me an intermission at cats right anyway. So what I'm GONNA we're going out here. We can't Handy Randy. Who Might Not Randy? Were coming to your show. All right. So Edward Snowden you think he should not be paid for the for the money to go to government because he violated the terms of his employment contract. That's what thank you will be going to be more measured here. I need to learn more about Edward Snowden because a lot of people that I respect said turn got it. Got It wrong on this one. So I'm going to try and learn. Learn more about how a guy decides to state secrets. Shove a thumb drive up his ass and moved to China and Russia's a hero so I'm going to try to understand how that makes my hero but anyways anyways and I'm sure the Russians anything cube there was no shoving with the thumb drive. I'm sorry there was a Rubik's cube that he took in and out so there you have it
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"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..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"I should probably be angry that it's take so long to get to the airports and vote for people and be willing to pay taxes such that there's public transportation to these places like they've done in Europe for the last US fifty years so I'd like to think the workers get a little bit more dignity the wages go up that we go to by the way remember all those all the fear mongering about what happens if if you raise minimum wage to fifteen bucks yeah that hasn't panned out anywhere hasn't panned out anywhere so I hope I hope it just across the board that gig workers and everybody everybody else just California legislation goes national. Do you think it's going to do what I do. I think you know it's interesting. I did have a discussion with Gavin Newsom News Lieutenant Governor. They didn't have anything to do all day so he had lunch with me. We talked about this a lot this idea of reclassifying workers in creating a new kind of worker so I do think this in California. I'll be writing about this next week. Times is really the de facto national legislator for everything whether it's a privacy Ville whether it's ABC or five with the car deal the deals are making with car so I think in Weird Way Gavin newsom loose in the Senate there is determining a lot of our regulations for tech and marguerite agreed vestige who just got a giant job. She got quantum leap more scary for she's Fan. She's a bad ass speaking swimming in a union over here in the Union when I was I went to Ucla. I was really not now but so junior. UCLA EVERY SUMMER MOORE UCLA I had basically twelve weeks to make twenty three hundred bucks so I could afford to go back to school. I worked as a box boy at Sanderson foods and this this guy took an interest interest in me and he said do this do this this and he had me fill out a bunch of paperwork and he said it's GonNa cost eighty bucks up front. I'm like I don't have eighty dollars. We're putting you in the union and I went from four dollars an hour our to eleven dollars an hour someone taking an interest in me and the power of unions and by the way everybody seemed to be fine shopping in Belair at sandy foods and literally early pay for my junior year of college. was somebody saying there's there's dignity and work and anyone who shows up here in pack other people's Grocery should pay get paid eight or nine bucks an hour our in one thousand nine hundred six as opposed to four bucks an hour and it so I got to my junior year of college and I think that needs to happen across millions of households. We need to raise on my soapbox now but I think it's I would really love to see a reinvigoration of unions interesting that it's happening actually Internet maybe a company. There's been unionization efforts more anywhere else than will but internet media companies vox when unionized working on it buzzfeed John and vice news and stuff like that so it's a really interesting time because it's the it's the media companies that are doing that the Internet media companies and I know it was a struggle at box they ultimately came to a deal with with the unions and it was interesting but I also did not in the designation for the Union but but but it's an interesting trend we'll see unions are have been so kneecapped. It's kind of hard to imagine all right last two twenty twenty tech. IPO predictions actions Scott Galloway the biggest Ip are the most successful IPO twenty twenty s Airbnb Airbnb. We're going to see bullish Sean. This one or AIRBNB is gangster. AIRBNB is an incredible concept because with Uber Uber has moats the core business has low margins AIRBNB. CBS exact opposite global supply that means you have to have people who are not airbnb coming in from copenhagen-tokyo so it has an incredible note. It's well run..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"What are you doing to get your your your fix of endorphins endorphins now that you're not doing cell cycle you talking everywhere when that's not going to. Do you have a pelivan yes i do. I have that was left to me by the people who's house. I bought they just wanna want to move it and so they just left the peleton very my my real estate and good for me and in the deal and <hes> and i <hes> i have not put it together yet. It's still dad. They're sitting there but i'm gonna. I'm gonna now when we get back to washington d._c. That's where it is. I'm gonna try somehow sign up. I like it. It looks great. It looks like it's a great. It looks people love it. Who use it so. Basically you spent two million dollars for peleton bike and got a house with your purchase okay so essentially yes yes. Yes i will come to that that much but nonetheless i have one. I haven't used it. I've heard people who use it love it. But of course it's it's thing for rich people right so talk to me about this thoughts the peleton 'swan because again they said in john foley's public letter to told investors on a most basic level peleton's sells happiness openess hundred percents <hes> okay so what was one thing that was interesting about this is that you and i both received e mails twitter saying i can't wait for the takedown taliban by karen scott. Everyone was expecting us to come out and and do a full you know. Go go go gangster on on these guys the same way we did on we were. I actually salihi peleton stupid happiness thing. That's why so peleton pelivan is not. We were peleton. I have appellate. I have participated autopay. The twenty bucks a month. I mostly pay the twenty bucks a month to sit and stare at a screen that has a really hot person bouncing up and down yelling at me which is sort of the information manage then. I'll pay twenty bucks a month for that but this is <hes>. This is actually a pretty good business now. Let's let's talk about. Here's why break it down. Scott scott galloway on your pelivan as you paddle away. Everybody is trying to be a sas business because recurring revenues that you can predict is just a better business. That gets incorporated. Someone's kind of workflow or daily user becomes addictive and tell a thanh actually does have a lot of the dynamics of a softwares of service firm in that it has has first off the hardware which constructs about comprise about eighty percent of its revenue. It's a two thousand dollar piece of equipment in an as forty five percent margins which which is really impressive when you figure that the highest margin tech hardware company traditionally has been apple at thirty points of gross margin the fact they're able to get forty. Five points of gross margin is really impressive oppressive in and among itself in addition the subscription side of the business. The twenty to forty five bucks a month..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"What if we could diagnose diseases before we got sick? Technology is changing healthcare and making good doctors integrate ones Samsung next explains how in their new series the end of the beginning watch it at Samsung next dot com slash beginning hi everyone this pivot from the vox media podcast network. I'm Cara Swisher Scott Galloway Scott. We're together. We are together together district of Columbia on our nation's capital the thank you very much you and Tammi out Avid Hillary Rosendahl ups right through party for me last night and I not only felt very American. I felt very loved. Yes yes party for the Algebra of happiness but you you had an rant you rancid in front of the power elite of Washington. It was nice. I loved it but everyone seems so shocked ranters downhill. Everyone literally seemed like they were going to swallow their tongue insure if they were horrified or turned on the mix it was like sex with me when I was a younger man. I'm horrified yet. Slightly compelled L. Like first of all you trashed all the tech companies and then blamed everyone here for not doing their job right like they're doing their job but you're not doing yours. If it walks like a duck yeah exactly exactly likely and then you talked about happiness how they can be happy which which may sound so that's right angry depress professor on happiness that makes sense yeah quite something. There was silence in the room Steve Case. They're a bunch of people you had a a lot of it was very executive producer for meet the press and you're gonNA. Are you gonNA go on now. Do you think the press that's what's called good judgment yeah bring the craze. Now we should know who's that woman with perfect skin crazy Z. smart. WHO's on there all the time? She was there last night. Oh yeah yeah yeah she was on R. M. E. J. Alcindor Code. She's amazing yeah yeah. She had been to the Acosta press conference. He was telling me about it and he was there too although he looks fourteen what's what all these young people seriously. Jim Acosta's yeah. They look fourteen the former wonder what was that was really great you in Washington party yeah and it's one of the one of the things I thought about after meeting wonder woman is that it's so easy to have stereotypes I would have thought that she'd be Kinda preserved and like wonder woman and I kind of coy and she runs up to you and hugs and she's delightful rightful and nice and friendly and anyway we had a good time and now you're tricked out with swag from Tammy democracy Washington Post shirts all this he's wearing a democracy dies darkness. The Washington imposed which is good. I'm glad you had a good time and here we are in Washington. There's lots of talk about in Washington right now. As we speak I think president trump is having a social media summit will work. We'll get to that well. Actually let's start with that so I wrote this week about out <hes> the decision that really big decision actually that he cannot block people on twitter. He's got everyone. He can't block people. He doesn't like essentially neither can other public officials. They wrote a column about how he's more tethered to twitter than ever. This is sort of the marriage the marriage made in reality heaven and that he how he uses it and what would he do without it and one of the things he's having of course even though he's indebted to twitter and indebted to the Internet and and others in the tech space he's having the social media summit which he didn't invite twitter and didn't bite facebook to nor do they wanna come and it's packed full with people who are GonNa wind about shadow banning and this and that what what anything well we talked about this.
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"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..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"Buber has assets. Uber is a global brand globally. Affluent typically, the first and last brand they see when we're on the road is Uber and it's shown a fly wheel effect. It spun out ubereats, which is a great business so Uber. Could execute perfectly and take advantage of all the great assets and be worth half. What it's worth right now evaluation make no seeing the Lawrenson third. Surf's problems, or you go onto, but we don't seem to be that, that Jones up to fix it lift could literally go away lift is there's no justification for lifts business. It's the number two without the global brand without the flywheel effect. It's terrible business. All right, any prediction, the audience. I don't know if we do any predictions, and they send them for. All right. One, more prediction, Scott gallery and then we'll get out of the way for the other podcasts. I just prediction yesterday. The markets got a wrong when they announced the FTC and DOJ said, okay, you take Amazon and Facebook, we'll take a Google, and we'll take alphabet an apple and the markets hammered these companies they gotta wrong. These companies are going to skyrocket in value over the next six months, because analysts are going to start recognizing that these companies, what's app is going to be an incredible company as an independent company, and can't this is a stock call. I think if you were to buy for those stocks, I think they're up between ten and twenty percent in the next six months as the market start to realize that spins they're going to be amazing for shareholders. Okay. We have this little time, gotta do instant predictions, with Scott Galloway, miss Cleo of my life. All right. Know that. Okay, forget it. Don't worry about it. It's perfect. Okay. Prediction on Wednesday suck. We'll get removed as CEO to make short answers you. I think it's within. I'm always early. I think it's within twelve months. I think it'll be within twelve months. We have come to accept, and this is a general unfortunately problem in our, I think, in our society that we just have to accept it that the world is what it is. No, it's not the world is what we make of it put pressure on the board. Leaderships down. We can absolutely remove this guy. All right. When will Trump getting paged, or will he win in two thousand twentieth? Scott galloway. What do you think I get this wrong? Terrible politics. No idea. No idea know either either. I don't think they will do the impeachment Nancy gross. He's not going to bend, and she's, she's making a political calculation, and she's getting in the way she's taking the flak for it. She knows. She has to protect those, those areas that are pro-trump bird are concerned about other things besides the impeachment. And so she's going to just take all the flack from her left and, and not doing she's, she's a very savvy political calculator, whether you, whether it's the right thing or not, she wants to win back the She win. wants to win. All right. Well, he went twenty twenty I don't know. I don't know. I don't know either is Kevin system, Jon snow back from the dead. That's gonna end on that good one. That's good..
Explainer: Should Big Tech fear US antitrust enforcers?
"But first top story our continued look at the US government's antitrust investigations into big tech, and we're looking at one market dominated, in particular, by apple, and Google, specifically, abstainers combine, they run the world's two biggest apps stores counting for more than one hundred billion dollars last year. Apple has about forty five percent of the market and Google at twenty five percent and according to censor tower the to control more than ninety five percent of all mobile app spending by US consumers. Now apple CEO, Tim cook denied that his company has any sort of monopoly telling CBS news that quote, I don't think anybody reasonable is gonna come to the conclusion that Apple's monopoly our share is much more modest. We don't have a dominant position in any market. You know, our share of smartphones in the US typically the high thirties, or so mid thirties on PC's. It's much lower than that. Joining us in San Francisco to discuss. John, berkey, the CEO, and founder of Brighton is software companies specializing in artificial intelligence for Thomas vehicles, and before that he served on the Syria. Advanced development group at apple Jim, great to have, you know, we've been talking about the apps store. I let's take a step back, and walk me through why these companies have been monopoly and make your case for why they should be broken up, of course. So I think the market share numbers are really interesting. Within the enterprise mobile market, which were a lot of this value is the EPA market share. If you sort of Google it, it's quite a bit higher than thirty percent. When I did my research it was eighty five ninety percent. I'm not a satisfaction. But these are big numbers, and I think also we have to look at thirty percent. There's no cost bases to thirty percent, and you have to ask yourself why Google and apple both have the same rates. Are they really competing or sort of an agreement that we're just going to charge thirty percent? Everything's gonna be good as you know, they're making big money out of this in until this moment. Nobody's really pressed very hard. And John talk me through, what is the standard if you will. I mean, even on the government's website, they say being monopoly is not a legal and these companies have every right to pursue aggressive pricing in order to maintain a monopoly and really only till consumers get hurt. Is this a problem our consumers hurt? These prices are free. Amazon arguably has been lowering prices for consumers. What is that? Like. Good question. I think to your point Amazon is another thing I think. Google and Facebook and those kind of companies that are a little different to those are more like advertising companies. But I think talking about apple. I think the thing is, is that they didn't, you know, they've done really well back in the old days when I was the first time we were almost dead. It was the mid nineties and Steven just come back. And a lot of the guys are still there from those moments. And they've done really really well. And I think a lot of the way the reason why this is complicated for them emotionally is used to be dominant position. The question is, is for a company like Spotify, should they be paying apple probably more than they pay the US government. Right. Because apple gets thirty percent revenue not thirty percent profit, there's no deductions right. It seems. If you're Spotify, seems rough to compete with your competitor and hand them thirty percent of your cash. So I think that's sort of put a fine point on it. I think there's some cases like that. I think in terms of customers being harmed without putting two point in this not a lot of companies like Netflix rearranged, their whole way to charge customers, just to get around the apple tax, and that's kind of strange, right? I think we all want to concentrate and making great products for the customer. And if apple didn't have that big tax net flicks the other companies would make it much easier to purchase their products while giving your history and experience with apple. You know, I have to ask, what does sort of an apple break-up look like to you is it separating hardware, and software. How does the apps store come into play? What are the concerns of how apple could be split up? If at all. Yeah, you're gonna make me really popular with my friends. Apple. That's our job here. Right. Of course. So I think, as you know, in these kind of cases, I think, is a lot of remedies. You can imagine. For example. After some discussion, these companies just agreeing to lower their prices lower there percentages. Or you could say. Does really need to have the app store. Right. Apple could be asked to let go the app store and be the platform company. Just not do the store. Right. And not charge that percentage, and then they could have some other model, right? You can see that can happen. I don't think that would be particularly damaging to apple. And in fact, if there's a market for apps stores that these super interesting, I think one of the things that we noticed, when we use the app store is it's not particularly good at what it does. It's hard to find products. If you don't know what you're looking for, and you can imagine if there were more specialized apps stores, actually might be a better place. So John, generally speaking, what does this mean for the future of innovation and thinking of a small company who expects that in a few years, they could be looked at being bought out by a big company like an apple or an Amazon? Does this make them a little bit more nervous about developing that big innovation if there, isn't a good exit path for them? Good question. I honestly I think both companies that you are talking about. We'll never not in the foreseeable future. Have an issue with cash, you may remember their fears ago during one of America's financial crises apple had more money in the Bank than states of America. So I think that it will still be true that they'll be plenty of money to purchase startups. I think on the other side with a couple of changes, maybe it'd be more open markets for smaller companies. Some of the things that apple does as part of its muscle memory to protect, which is a really good muscle memory. I think one of the things I want to say about this week is apple came out really strong about privacy, and I'm personally, probably did that because, as you know, not everybody does that in. This is really clearly in Tim's DNA. So I think that's really good. So I think some of that muscle memory though, is a bit overprotective. We all do that with our children other things. Right. So apple could open. A little easier to do some of these things. There's a bunch of cases, that are some of them are kind of technical around services and apps and things, but you could actually have more innovative place. John, I spoke with Scott Galloway professor over at NYU and studied a lot of these big tech companies, he may sort of, bold, prediction that within the next five to ten years. Instead of these big four, we really could see smaller six to ten companies through your research, and analysis, any idea of how many companies, this could be a we looking at what could potentially up to ten different companies. I think it's a good question. I think when you look at the remedies for a company like Google or Facebook, you can easily see those being split up in several companies along with some remedies around, I think, in Facebook, you could see. Digital accounting, stepping in a company like TWA or some other companies stepping in and providing audits, so that their user data's handle better and then you could see that maybe that would be split. I think we have to begin with the end in mind. What do we want? You know, I think we want. We're proud of these amazing companies. They're big part of America's so strong today. But we don't wanna wreck that right? But we also want to continue to have innovation, right? And I think also, we're all struggling America with the digital divide, not just inner cities and others, but also mainstream America that's out in the middle of Iowa somewhere, you know, so part of the stuff we're talking about here is how to make that continue to be better. Right. Because we know that one of the things we're worried about with companies like Amazon is that old thing. We used to call the wal mart effect, right. Which is these big companies can accidentally make small main streets worse. Right. They can accidentally shut down some stores. They don't mean to do these things. So part of the remedies that we've seen in the past as well are things like. The cable companies. The phone companies are forced to run lines out to the country. Right. So every American gets a chance. Right. So you could see that happening with some of these things too. So you can see splitting off from the big four big five you can see. Yes, sure, you can see eight ten and then you can see, though, second level. You know, maybe you have four or five companies, maybe you have maybe AWS is no longer part of Amazon. Right. You know who knows? But I think. All of us Americans do like capitalism, right all of this. But capitalism's a good thing, generally. And so what we wanted to work, right? We know that we have stories from our history books where a big company too powerful. Right. As I said, apple is, I think, one of those cases where they've done really well, which let them have a victory lap, and then we should find a way playing checkers with your kid, and you're doing two wells sort of back off, you know. So some of those cases are for apple they can just change the field a little bit. Make it a little more open. Well, wonderful insights, and thank you. That was John berkey CEO of Brighton. Good insights
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"Okay. We're here with Lauryn good. My old partnered crime who has left me, and I had to find a new one Scott Galloway was I dunno. Where Scott Eric who is the scar? Was this good? You must like him. You don't even know where he is. He's in Dubai think he's in some awful country abuses citizens. Anyway, we we we do wins and fails Lorne wins and Pilsen pivot. We call out the people who are making fools themselves and talking to people doing good in the world, we try to be fair pivot pivot. Exactly they can do. Pivots and stuff like that. What is your what of the many fails this week are your fails? And then I would like to know your wins. A we have a whole list here do here. But I wonder if you don't have to pick these brought these up the first one is obvious Matt our value pronounce his name gate states. I think Republican congressman for calling on Twitter. I just call him that asshole. But go ahead. You like that all I know. I don't get in trouble. So so. Go ahead. The whole Coen thing was just did you watch it yesterday. I did I watched a piecemeal his really had to be somewhat productive. Although tell you the best way to watch Highlander yet, bits and pieces. Yeah, I guess, you know, Republican Matt gaetz tweeted this beforehand threatening Cohen and about an affair, right? Right. Saying saying he's threatening. He says what the threat is. And says you better be careful. It's like. Just let us know what the threat was here suppose say you're supposed to oh something's coming out secret. It was just like you're an idiot and a bully and a Bob Stor bad one like on a bad episode of the sopranos. But what what did you think that was a fail? I did certainly fail. I would have kicked him off fell. Jacked that's really have to save. All right. Okay. All right. You think about Michael Cohen test testimony? Well, you thought of it. But I will say I thought he was compelling. I thought it was interesting. I thought I was surprised Republicans didn't try to defend Trump more. But how could you give him? Michael komo's saying I think, you know, trying to impute him with that. He's a liar only serves to hurt Trump because he point for ten years. So if he's such a liar. What was he doing the head of the deputy, chairman of the RMC only a few years ago? So I thought he came off while I thought some of the stuff that he was alleging this disturbing as usual and sort of bears out a lot of the reporting that's been going on for years now major institutions, and and I say win is all these media companies new. Times Washington Post feed all these others who've been reporting on this stuff and doing a great job. And then I thought that that most of them most of the people were a little bit most the congress people were very trying to make grandstanding a little bit on both sides. I think except for Alexander Cossio who I thought did a great job. She she's the total of the week is that again, she's proven that. She's not just really good on Twitter, but she substantive and she did a substantive non showy it was showy. But not showing it was really fascinating..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"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..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"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.
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"This is pivot from the vox media podcast network. I'm CARA Swisher. And I'm here in freezing DC where the government is back up and running for the moment. And this is Scott Galloway coming from the polar vortex of Delray Beach, Florida where it is sixty five degrees. It's unbearable Keira. You know, what stop don't because people mid western dying. Don't make. No, no, no, no, white walkers loud. I just wrote. Okay. I'd start a scooter here to get here on time. I wrote leaving has fast, and I gotta stop. Wli? It really did. I love the scooter. Good. You're going to slip and break ahead. People shouldn't be on scooters. We shouldn't be on scooter. You should be home watching murder very fit. Eater very fit. I'm very fit do soul cycle. I had a lovely soul cycle yesterday. It was great. I'm very good this morning. I did cross fifth. Did you like that stuff? All the internet people of. That's how you can tell someone does cross it. How they tell you damage tell you, they tell you. That's right. It's like going to Harvard. Okay. That's right. I went to school and got lots of stories this week. We have so many stories this week there. So many let's dirt like, no we had to Facebook. Again. Once again had apple beginning the week by doing something that was not good by having. It wasn't a bug. It was a mistake in the FaceTime would cause allowed people to listen in privacy snafu, right? And then they didn't tell toil about it for a week. They did. But they did talk about it. They did turn it off. They did all the things you're supposed to do. And that emitted it took them a long time. And they're right in the middle of that also announcing pretty, you know, earnings that people were not thrilled with and then Facebook is out. It again. And this time they were caught paying teenagers to collect their date on an app and app and in doing so even though they got consent of teenagers. How that works to start with they violated Apple's very strict terms of service on the kind of certificate. They called it enterprise ticket. I'm not gonna go into technical. But it's they they were they were using the consumer facing way. So so apple, you know, shut them down including internal apps that Facebook uses on the on their on their staffs iphones. You know? I wanna parking apricot at I don't know what apps they're using. But there's a whole bunch of internal apps that these companies use and now these book isn't allowed to use them. And so apple pulled all their rights to do that. Which was so what's making apple sort of the regulator Facebook? So the first one was the apple bug were on Facebook. You got to listen to the conversation before people actually answered the phone. I'm sorry FaceTime. Excuse me. Thank you. Yeah. I think it's actually a little bit of a nothing burger, and the and the only thing I take away from it is that there's kind of universal karmic response. When you go on and any dignity too about privacy. You're gonna you're gonna start violating people's privacy. It's it's sorta when they kind of had a calming. I don't think it's a big deal. I think they've fixed it, I don't I really I think it makes for an interesting headline. But I don't I think it's a it's it's a big nothing appropriately. When it happened. Next. The thing the fight between. I mean, the other stuff the I actually think Facebook what they Facebook didn't as you know, neither I think our big huge fans of Facebook companies. Do this all the time. And I and it was about ten percent of the people were teenagers around at the age of eighteen they did get parental consent. What's research? What's more interesting? It's not clear, they got parental consent. They've shown that they the parents did were in fact contacted and that there was a consent flow as the term they use. I love the terms that Facebook puts out there. But it's not I don't I don't. I don't I don't know. They all do them and Facebook does a lot of it off. They want a lot of Google does them where you have is. What's interesting is that, sir?.
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"Hi, everyone this is pivot from the vox media podcast network. I'm CARA Swisher back from Hawaii and now in frigid Washington DC, and I'm Scott Galloway here to publicly disclose for the first time that I am in a relationship with Jeff Bezos. Hey, alive girl happen, by the way. I don't know what it means. But I think I've been upgraded to the next level of prime membership because I just got a picture of someone's junk. Oh, you know, what as usual? You take very delegates version, and they get horrible. You're in Paris. I'm only going to give you time off because you're you're in Paris. I am. And I'm in a basement somewhere in the city of lights. But by the way, I just back to the whole the whole bays today's okay, sorry. I'm so excited about that. I can't I can't back. I'm so ready for what have you heard? What's going on here? He's well, he's not a very good. Texter, right. Let's just be clear about it. Although I I'm going to get to that in a second. I, you know, I I know I used to know them very well. And I haven't spent a lot of time with them since they both become zillionaires or anytime. And but in the early days, I did I spent a lot of time with them and MacKenzie basis is a wonderful and smart and very integral part of the beginning of Amazon as I recall, and she also I don't see that she will be this will be very diff-. I I'd be surprised if it burst out into a horrible fight. She's not her nature, and it's not his nature. Either seem to have gotten ahead of. It it looks like they were married, and he met someone else or not, you know, I don't want to go into the who who did what to whom because I think marriages are complicated. Really don't know what happened. But it's I think the focus for me is that I don't think it will affect the business. I think the the issues I think probably anyone who's investor is is the focus like where he needs his focus, whereas his focus and stuff like that. And so when you anytime you have personal issues, and he's got four kids, and obviously new relationship there's going to be questions about where focuses, and I think the same thing happened with Sergei Brennan Google that he was not nearly in fact, not at all part of the critical management staff at at Google. But you know, you see these this happened to be seized to Zeos and things like that. And I think the only thing businesspeople thing is where's the focus? What will how will affect? How will affect the stock? I don't think it will the stock at all or anything else. So that's how I come down. Got it appears appears are mutually have mutual shared interest in that they don't want their both are shareholders of company they don't want. They don't want this to spill out into the public. I thought the release was awfully strange thing that he posted on his Facebook page. He did that to get ahead of the, you know, the nationally, but it was so economy something was up because I don't know. I'm sure you read it. But there was a sense. And they're saying we look forward to new ventures and adventures together. And I thought that describes divorce perfectly. You know that it's not it probably own a lot of stuff together. I'm guessing they do have a lot of. But it's Sergei Brin. And would just do they own half a town, and they have investments all over the place. So they have to state and they have children, obviously besides which is the best investment. But but I think yeah, I know it was I think they were just rushing. I think that was a rush job. You know what I mean? Like, what are we going to do what I found fascinating is that he didn't imagine that he was going to be the subject of scrutiny by Trump tie, affiliated people especially with the Washington Post ownership and sort of show. I think they were probably a little caught like, oh, they're following us in. He, you know, these the subject of interest, and that and the fact that a man who puts echoes in everybody's home, and you know, listening devices, and everyone's home doesn't realize he could be easily hacked in some way. You're just goes to show, You you know. know, everyone's human, right..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"Network. I'm CARA Swisher. And I'm Scott Galloway. And we're just about through with two thousand eighteen on the show. We usually break down the big news stories of the week. But this week we're going to take on the whole year. Scott. Let's talk about all kinds of issues for two thousand eighteen. Let's so let's start with the top. Which was obviously Facebook in Cambridge analytic in the whole thing. Right. Would you say that was the top story this year? I think so I think that no doubt about it. The notion that this might lead to the break-up in in the beginning of eighteen so I do a series of predictions. I get a lot of them wrong. But they're fun to talk about one of the predictions was that the break-up of big tech begins in eighteen and I'm curious you, do you think. That's would you say that's correct or incorrect that the break-up of big tech has begun the contemplation about the strength the big taking whether they should be regulated has begun. I don't think there's any break-up. So you think you think the immunity that will kick in here or the blowback will deform, it'll take will be regulation. Not antitrust. Yeah. I don't know. I don't know. I think certain companies antitrust isn't. But I I it's your only have one shot at these companies. And so which company do you shoot out which one is the right one is Amazon is a Google is it, you know, Google hasn't been shot at yet by any of the regulators. If you think about it, and they've been around much longer than Facebook and other companies other the lug is so I mean, they have ultimate heat shield and Zakian and MS Sandberg Facebook's the best thing that happened to them because they're probably more. Lightning. Right. They would be. So let's talk a little bit about Google and Facebook, and I want to propose a solution. You tell me why this does or doesn't work. But one of the scariest things about our economy right now is the fastest growing. Parts of our economy are in technically star. Search cloud mobile, you know, hardware in social, and you can't start companies because in those industries because there's a big dominant player or a duopoly. So we have innovation being cauterize d-. I feel this is the air of non innovation. So the notion of breaking them up. Let's start with Google ninety three percent of intention to action is controlled by one company, which I think is a bad idea. Accidentally okay, I type in how to overthrow my government is but first of content. I get a voter registration form or instructions on how to build a dirty bomb. And I'm not suggesting we put search back in a bottle. But is a cooler we down with one company controlling ninety three percent of that process. What's the most? I'm going to get existential here. What's the most? Portent process is when a solar flare comes off the sun and heats us. Yeah. That's pretty important is at the moment of life. Our conception a lot of dispute over that. That's pretty important but intention to action three billion times a day. That's a pretty important process. Right. And we don't know how they're figuring it out. And they don't want to tell us and one company controls ninety three percent of it. So the question is will how do you? How do you break up that concentration in my answer here? And I want to hear your feedback is that you spend you force a break up of YouTube in the first corporate strategy meeting of you to they decide that the way they all get homes in the Hamptons are nap or whatever it is. They do with their stock option appreciation is they start doing text based search and in the first corporate meeting of Google San's YouTube, they decide to start doing video search because they're no longer coordinating, and we have two liable players overnight..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"CARA Swisher that I'm Scott Galloway staring at. Moment an enormous tree in the same room. So you can probably feel the banter and the electricity. Yes, here we are here city. So there's a lot to talk about. So let's get into it. Because we only got a few more shows before the new year. But obviously, again, we're talking about Facebook another story from the New York Times again about Facebook's violation of privacy. Which is something they've been doing since the beginning. But a really bad one again selective. Handing out of of information to different groups depending on partnerships and things like that. And what what is your sense of? How was was as pure oversight? Or was it a pay to play? Thank who got special different people got different things for different partnerships. I think that's the thing is that they were sort of. They were giving special me they weren't selling the data. They were giving away as part of partnerships. And then it depended on whether it was the Royal Bank of Canada or Netflix or Spotify or being or things like that. And so various they gave away various bits of privacy. And sometimes the the the the partners didn't even use it or didn't intend to use it. Yeah. They were just, you know, they they had this partnerships thing, I think it was under Dan, ROY. Who has since left Facebook. And I think they were making partnership that for partnership to to to to advantage Facebook and part of the deal as they did with the Cambridge analytic information to give to third parties to track. People the platform, they give away different benny's, essentially. Consumers love friction Lewis content and things for free and in this part of the downside. But we have you heard have you reached out to Facebook. What's their official responsible responses that we have been trying to be transparent? We I think the issue is that it piles onto other things face for misusing data. And whether you know, it's interesting because I put up something like this more than any of these shows kind of sloppy management of partnerships. Really people were like, no, it's criminal. No, it's this. It's not criminal necessarily in. The question is who's going to decide whether people gave consent whether they should've gave consent. I, you know, I think the get all people on the hill all mad because angry about the Russia stuff. And we'll get to that. Because it's something else came out earlier this week about Facebook and Twitter and Google, but I think it's a question of their their sort of sloppy management of data and their voracious sucking in of data at the same time. So so my question is this feels a little bit Trump in in the sense that when there's so many dumpster fires. You just see a fire and one dumpster fire. Doesn't look any brighter than the other. Are we just becoming inoculated or numbness people? I think this kind of stuff does get congress going and get get regulators going, and you just saw today the district of Columbia is L suing Facebook based on the camera Janelle Lyrica stuff. So I think just what happens is a pile on which has happened to them before when they had beacon if you remember it just was a much smaller environment, and now everybody is piling on. And it's not just what's interesting is there's one sort of attack from the privacy angle, and what people gave consent to and the misuse of data or the use of data properly, but not in ways people thought it was being used and whether that was a legal or not illegal. And then there's the question of malevolent actors using the platform as it was built. And then there's an issue addiction. And then there's an just it all sort of missed mush up together and gets away from the fact is are people using this product. Then did they like using this product even at the cost of privacy? But it is point. I would argue there doesn't seem to be any evidence that consumers care. Yet. I don't agree with that. I didn't young people don't wanna use Facebook. I don't know if it's because of privacy issues, I think it's others uncool. I think pretty pretty much, but the issue is can they facing all these various things can they continue to innovate and run their company when they're facing so many inquiries, which.
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"We're back. I'm back with Scott Galloway on pivot. We were talking about a wide range of things, including Microsoft and some other stories of the week. But I got your in Florida last week. My kids were in Cuba where and I got a lecture on soft communism from them along with cigars, and it's safe to say smoke cigars, a lot of us were not reading the news over the holiday. But it doesn't mean there wasn't a lot of news happening. There really was besides everything Trump said like there was so many things in that regard, which let's not go over one of the things that I thought was interesting was this. You know, I bang this China drum that frightening. They are as a country from an internet point of view from a surmount view. And so this new story came out about China. Itching citizens scores, you know, like credit scores this this was an episode of black near by the way, and it's a national reputation system being developed like credit scores and some internet companies. I'm trying to think firm does look at your social media thing to decide whether to give. You money or not? But they're they're trying to assess their economic and social reputation, it makes them easier to do business, essentially, it's a reputation system. But to me, it's a form of mass surveillance that they've been doing already and the citizens are quite welcoming to do it and how they shop where they go. What do you think of this? I mean, I think it's it's inevitable. But what is your thoughts on this? Because I think it's a I I am banging this drum on on surveillance economies. And I think they're disturbing in becoming increasingly disturbing. Well, it's it's typically not the idea that freaks people out when organizations get really good at it. And so the idea of we've had a credit score more capitalist society. So we want private information on people's ability to pay their bills, which you could argue is you know, as a violation of the privacy. And you have a credit score from a very early age. They're starting at perfect when you're this new system in China, you started a thousand I think it is. But it's really interesting. So for example, if you buy diapers your credit score goes up because their sumptuous you're responsible in your taking care of children. If you buy video games, your.
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"Now back to our show with Scott Galloway. All right, Scott that was the overplayed so and it's not overplayed by any stretch. But what's the most under reported story this week? So I think a pretty big deal is that apple has decided to officially distribute there. I phones on Amazon that isn't big deal. I didn't get attention. You're right. It did not. Yeah. Yeah. So effectively one of the keys to building a brand is your distribution right air, mas- doesn't distribute WalMart Levi's, red tab won't even distribute through JC Penney's, they'll or actually dependence, but they won't distribute through orange tab through different points distribution because you wanna lineup right aspirin. Macy's won't carry anything. That's Sears distribution has a big impact on a consumer's perception of your brand. And apple the ultimate luxury. Brand is now on. On Amazon, and that's a big move. I believe I believe that. It's another signal that apple has jumped the shark peak. Apple really, okay. I mean good if you were to say, what is the most value accretive decision in the history of business. Most people would say it's Apple's introduction of the iphone the rocket ship that took him to a trillion. I think they I think they get the brand right? But the decision wrong, I think the ultimate gangster moved here. The created the first trillion dollar company was Apple's decision to take literally billions of dollars out of broadcast advertising actually under index on advertising and deport into this dying medium called stores, and they have made these just temples to the brain. That are just they're just mind blowing in terms of how good they are. And how good you feel about him happy apple store just in their wonderful. And then if you buy.
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"Box media podcast network. I'm carissa Swisher, Scott Galloway. And here we are face to face in New York City. I'd like to thank you finally decided to invest in this relationship, you're here because of me maybe about now. Now now, nobody Hillary Clinton Hillary Clinton. I'm running to see you. I answer coffee with her. Yes, I'm going to see her because we have a big interview tomorrow night at the ninety second street, y it's our third interview to charm, there time's a charm. I'm having lunch with hill. Now, Hillary Clinton, No, MR Oatley. Yeah. Who is that I named ship. Okay. Who sat whose ship les? Come on. Marijuana. He let me just go doing. All right. Here's the deal. I was just a Google at Google news group, I giving a speech for among a panel thing. And I was coming down in the elevator. And this guy was like, I love you. And Scott that Scott guy cracks me up. I like when you riff with him. It was on. This guy was like a huge fan. This Intuit while he works out. It was all guys. It was interesting. But I'm just telling you we were two times in one place. It was exciting. So so they like us they really like us at Google at least so big stories this week. Let's go. Let's go right to them. Tim cook the CEO of apple gave an impassioned speech on data privacy. In brussels. He said that Apple's supports a federal privacy law in the US. Let's take a listen to some of what he said. For the average age. He's being weaponized stuff with military. You'll change him in countless decisions on the basis of our lights. Our relationships in conversation. She. Our hope and green. And so he said he's sports US federal privacy law, which there's one in California. What do you think? What do you think about this portent speech? Yeah. Well, he's he's got a ton of moral authority. He's likable. I think he's principled but him taking a stand for privacy is like Sergei or Cheryl taking a stand against devices that are addictive to the young male. Okay. Google and taste attack on his competitive. So what smart thing to do? It smart thing to do. Doing it for a while. It's it's I think it's principle. But the where I think he he kind of misses the Mark or loses the script is when a terrorist uses an iphone the FBI says we'd like to get into the siphon to see if other acts of terror unfolding gets a court order and then apple waves. It's middle finger in the face of the corridor. That I'm on the other side, you're wrong there. You know, what you think the government is what What if if it it had had been? been a black care? I don't think I like the stance. I like this one of our kids doesn't show up. Into that. That's a different that's an emotional reaction. That's an emotionally. No, no. They should not do that. Guess what? The government has way through your house. If your spouse doesn't show up. That's what happens. Yes. Oh, so your iphone is more sacred. They have made a promise with the user of that phone and get it to the user of that phone, even if it's like, I'm sorry. I'm with Tim on this into the trunk. Research. Hold on the iphone. You've bought into this religion Jesus Christ. It is not. Here's the deal. The government has other ways of catching if the if if not getting into an iphone is the only way the government can catch a terrorist getting information. No, it is not no. There are lots of this. It's called intelligence. It's called the CIA. It's called all kinds of ways they have lots of ways to get this information. Whatever, you know..
"scott galloway" Discussed on Pivot with Kara Swisher and Scott Galloway
"Carissa Swisher editor at large Recode and I'm Scott Galloway. Professor of marketing at NYU stern school of business and founder of Gartner l. to and also kind of easy lawn care us. No, no, I'm sorry. I'm the Kimball. You're the eel. I'm here because of the cowboy hat because you like me. Let's me that's about it except I one hundred percent less marijuana smoking, but we we're talking a little bit early this week than we usually do. Things might change, but I haven't been here that, but Scott, so wise predictor of outcomes. What's happening this week is going to keep haunting the world of tech in business for months to come. So let's start with the big topic. Yeah, Facebook, the data breach. What are you hearing? What's what's the skinny. Well, I think it's a lot worse than people. You know, it's really interesting. Cavenaugh has sort of pushed everything off the front pages, and if you could imagine a big data breach like this, not being that big a deal at people just jump all Japan. I it because of the news cycle is so crazy. It's kind of fascinating. I think it's a major thing. And once again marks were is apologized said he's going to do better next time and and I think it was problematic as far as I can tell you about it is it's only gonna get worse, right? Yeah. A couple of things. These guys never say as one your privacy standards are accidentally strengthened. You never hear that and to you. Never hear. Oh, wasn't as bad as we originally reported. My understanding is he's already come out a second time and on that call, he sounded tired. And my sense is you shouldn't feel that way. He should sound scared. This is just getting, you know, I wrote a blog posts on this. I feel is if Facebook's turning into the information age, KGB minus the charm. Now, at least the KGB has a code their little of their country the little to each other. As far as I can tell you only glue here is boundless greed and a willingness to lie over. Over and over that too much CARA. Is that much? Yeah, it is. But here's the thing you last week, you called it a great vibe. I think it is because why does capitalist economy and people would rather we now worship at the altar of innovators and billionaires, people are going to be outraged by this. There'll be some foot-stamping and congress. Maybe something happened, maybe one and they're gonna nounce the best numbers ever. They're gonna continue to grow thirty percent a year despite this hacking and then the phone number scandal to explain that explained that they they, they use it to party authentication. I wanted Ishmael security. Facebook says, fine. Give us your phone number. You give them your phone number, and then we found out that Dunkin donuts was using those phone numbers to cross reference and target us. So if Dunkin donuts has your phone number, they can say, hey, we have cares. Phone number, can you do you have it? And they say, oh, yes, we did. So these people, I mean, technically, you think, okay, this isn't that bad, but it's it reflects, oh my God, he kidding. I didn't want to give them my number for that. I gave him a better security on this service that has made the general could stall. You know, they say the saying is if you're not paying for something you are the product. And that's how they treat us. They treat us like a product that's an animate, and I just they aren't showing a certain level of respect. I think for their consumers feel from from the cancer part of this world, there's nothing safe really, but the fact that this is a company that has had so many failures this year that it's hard to count them at this point and hack is, you know, before we when when people are online, they're like, oh, this is just like the rushing them like, no, the Russians wasn't a hack. It was the way they were using the system the way it was used. This is a hack. What do you? What do you do from a marketing point of you? Inside of Facebook when this stuff is over to your crisis, man, there's only three things you have to remember..
Under fire Danske Bank faces fresh money laundering inquiry
"Power of these tech companies. Now you bring up the fact that they're becoming a media company. And of course we had AT and t. Time Warner merger which included CNN and of what the judge said in his ruling was looking at the outsized power of these companies in the digital advertising space. You see that response, but is regulation. The right strategy are finds the right strategy is any of that going to make a difference when you consider how large the market capitalization of these four or five companies are. So when you have a company like Google with one hundred billion dollars in cash and you find five billion dollars, what you're actively telling Google to do is to continue to break the law. If you had a parking meter in front of your house, that cost one hundred dollars an hour, but the ticket was twenty five cents. You would continue to break the law and that's what we've been telling these companies to do with fines. That might sound large dollar terms, but in terms of impact aren't that large, you ask what we should do. I believe regulation has unintended consequences. I think GDP are has actually emboli. And strengthen these companies position. I believe that the future to oxygen eight, the marketplace is to break these guys up. I think antitrust action is the way to go that there is a real risk of that. Now, I know that the US attorney general Jeff Sessions having a meeting with states attorneys generals next week to discuss this very topic restarting to hear that word, antitrust rebates starting to hear the word monopoly associated with some of these companies. Is that a growing regulatory risk for these mega tech companies? Could you actually see them getting broken up? I used to think there was no way because Amazon is eighty eight fulltime lobbyists in DC. We in the US I would say suffer a little bit from what I call this gross idolatry of innovators and billionaires. We see them as our heroes, but I do think there is a movement of foot now, whether it happens out of DC, I would say most likely, no. I think the pushback is gonna come out of Brussels and possibly a red state. We're an attorney general in that state's he's at the brightest blue line path. The governor's mansion is to make an argument against these tech. Companies to quite frankly probably haven't been good. Have they been going for California? Yes, New York s? Has it been good for Kansas? What's happened to the ad agencies? The retailers, the businesses in those states. I think a lot of these red states have decided, you know, big tech it. We've been net losers here, so I don't think it's going to come out at DC at might the DOJ should absolutely do its job. The call to restrain. The acquisition of this company was read in comparison to the power of these other companies. So I actually do believe there's there is a non zero probability now that the DOJ or the FTC or a state AG Michael after these companies and accused him of anticompetitive behavior and propose antitrust and breaking up as a solution. It's an interesting paradox because you have Amazon yet to announce the second location for its headquarters, and you have, you know, local mayors and governors of morning Amazon at the same time. You see it coming under increasing potential enemy trust scrutiny and other bad headlines following it as well. Do you. You see public opinion changing at all toward the power of these big tough tech companies. While at the same time, we're also dependent on the warm is absolutely turned two years ago. The only argument was is more Christ. Like we're going to be the next president among their see is really the weaponization of the Facebook platform by the GRU of the Russian government changed everything. And now. Oh, citizens. Citizens have are starting to feel a lot more wary about these firms, but you brought up an interesting point the competition to be the host of the next age. Q. and regulation are linked Stephanie because the next headquarters for Amazon will be Washington DC, the metro area, and the reason why, and it was always going to be DC is one the basis have a home there, and CEO gets to pick with a company. Second headquarters are going to be. And so the only thing standing in between Amazon, Amazon's valuation of one trillion in two trillion is regulation, and no one is going to regulate the individual. The throws out the first pitch at the two thousand nineteen opening game of the Washington nationals which will be Jeff Bezos. This competition was a Reuss to transfer wealth from fire departments and school departments to this shareholders of Amazon. It was always going to be DC. This has been a terrible abuse of the Commonwealth. And how many lobbyists does Amazon have in DC right now. Last check Eighty-eight fulltime lobbyists in DC, Scott Galloway. We're gonna have to see if you're right on that. It's going to be embarrassing of announce big Indianapolis. Well, DC could certainly use the jobs, Scott. Thank you so much. Thank you. Let's turn to Europe and the massive money laundering case that shaking the financial world is he? Oh, of Dansk of Bank is out a new report from the firm details. It's employee's failure to conduct basic due diligence on customers and managers, failure to heed warning signs. The tentacles of the investigation and the alleged wrongdoing are spreading regulators in the United States, Denmark and Estonia, or all probing, dansko bank's operations and the probes center on the banks, tiny subsidiary in Stony a- lax controls. They're allowed through more than two hundred thirty billion dollars. They came from thousands of suspicious customers outside Estonia and that dollar amount is nearly twice what was previously reported. The Bank is alleged to have become a conduit for money coming from Russia and former Soviet states. The allegations are linked with fraud cases exposed by Bill. Browder anti-us former lawyer Sergei Magnitsky who was murdered in a Russian prison. Bill Browder himself was kicked out of Russia. He has since filed several criminal complaints over dansko banks. Behavior Bill is the CEO of Hermitage
Stocks end mostly lower, tech shares drag Nasdaq down 0.9%
"Thickness after the close of US trade, and we're going to pick up the conversation in just a few minutes again with Scott Galloway from NYU stern school business. Talking tech talking his book. We'll wait a minute. He said the worst brand which he talked about of the year. And he's gonna give us the best. Best friend decision. Best brand moment. The single moment happened this week, we witnessed it. But we don't know what it is yet before we get to that. Let's get to Charlie Pellett. And I thank you very much. Here's what's going on game. Stop posting disappointing. Second quarter earnings putting pressure on the beleaguered video game retailers management has it weighs a possible sale. Shares of game stop now. Lower by four point