Kara Swisher · 23:26
Interesting is that the stock is going up. What do you think of that? They're just doing it again. They're doing another
Scott Galloway · 23:30
This is just fascinating.
Kara Swisher · 23:32
AMC too, right?
Scott Galloway · 23:34
There's a couple of things. One, I have a lot of thoughts on this. You're gonna have to give me some running room. Please don't trigger me. Do not use the word Sasha I'm Baron
Kara Swisher · 23:45
going to take a moment. We're going go on a quick break and when we get back, instead of talking about net neutrality, we're gonna talk about this.
Scott Galloway · 23:52
I tell you what's important to me and you're like, that's I'm
Kara Swisher · 23:54
gonna give you runs, Rose, you're right. You're gonna
Scott Galloway · 23:57
let Where's me my Great Dane?
Kara Swisher · 23:59
Great Dane, where's my Great Dane? I, even though Stephanie Ruhl called you a poodle, you are indeed a great day and sure, whatever you say.
Scott Galloway · 24:07
We're She gonna take a said I wasn't sexy, that hurt.
Kara Swisher · 24:09
She did not say that. She said you were more like a poodle, which I thought was
Scott Galloway · 24:13
I'm sobering more back. I'm sobering sexy.
Kara Swisher · 24:16
Scott, you on a quick break And when we come back, we're gonna talk about, GameStop instead of net neutrality in California. We'll mention that also. And a listener mail question. So let's go to break, and then when we get back, we'll talk about it. Okay.
[Ad break]
Kara Swisher · 25:31
All right, Scott, we're back. Time to run on GameStop. Go ahead.
Scott Galloway · 25:35
Well, so this is, if you could argue, you would argue this is an honest pump, meaning that... So for example, Dan Loeb took a big position in Yahoo, got Marissa Meyer to come in. Everyone was very excited posters that said, keep hope alive, put people on the board, talked about all the potential of Yahoo, and then put people on the board. And I'm fairly certain the people on the board observed Marissa Meyer and said she is a terrible executive. Yeah. And then perceived to watch her take EBITDA down 50%, revenues down 20%. And Dan, just as they were starting to take down the keep hope alive posters with a picture of Marissa Mayer, got the hell out of Dodge and sold all his money after, sold all his shares after what I would call an honest pump. That's what an activist does.
Kara Swisher · 26:22
Yeah, he did.
Scott Galloway · 26:23
And these individuals He
Kara Swisher · 26:24
got the previous CEO fired too.
Scott Galloway · 26:26
That's right. On what I would argue was to be Very
Kara Swisher · 26:31
fair.
Scott Galloway · 26:32
You thought that was very fair?
Kara Swisher · 26:33
That guy with the thing, I wrote a lot of those stories. Yeah, I think that guy lied about his
Scott Galloway · 26:38
He said he had a minor in computer science.
Kara Swisher · 26:41
That's where you fire it's more complicated than that.
Scott Galloway · 26:43
Okay, enough.
Kara Swisher · 26:43
There was no such course at his college. It was, he sort of lathered over his resume.
Scott Galloway · 26:49
Anyways, anyways, talk show. The honest pump of GameStop is a group of individuals and it's gonna be very interesting once forensic analysis is done here. I have a hunch or I speculate it's a group of people who aren't as retail or aren't as unsophisticated as we think who figured out algorithms for planting, getting a position and then catalyzing a lot of chatter and then pumping an honest pump of their position. Or it might be, and also getting people who believe it's part of a movement, maybe want to make a little bit of money, maybe enjoy it, maybe want to learn about stocks just fine. But here's the thing, it goes to a bigger issue. And that is volatility. It's sort of intergenerational warfare. And that is volatility plays to young people and is damaging to the incumbent wealthy. And that is the following. When 2009, the reason I'm somewhat economically secure now is because of the volatility coming out of the economic crisis where Apple and Amazon were allowed to fall to pretty serious lows. I was able to buy Apple at basically eleven bucks a share. I was able to buy Amazon at 160. They're all both up 10 to 20x. When you try and reduce volatility by flooding the market with quantitative easing, keeping interest rates low, or you find this type of volatility threatening and you want hearings, what you're basically saying is the incumbents want to hold onto their wealth. Because volatility creates risk that current asset holders don't want. And if you're a younger generation that has a little bit of money, and quite frankly, not as much to lose because your generation now controls nine percent of wealth versus 19%, and you see that the game isn't rigged, it's tilted, volatility isn't as scary to you. Yeah. It's not,
Kara Swisher · 28:33
so You have they embrace that profile. Younger people have that profile.
Scott Galloway · 28:36
Well, that, but volatility and change. You know what would happen if we let small business be more volatile and we let restaurants go out of business? We would shed skin and a lot of 50 year old restaurant owners would lose their restaurants, which would make room and opportunity for 30 year olds
Kara Swisher · 28:53
It's to true come men, Scott Gattaway.
Scott Galloway · 28:55
Yeah, but unless you let the winds of creative destruction gale, unless you let volatility run wild, all you're doing is protecting the existing asset holders. And younger people are like, we want some chaos. We want some volatility. We would like to see Brooklyn real estate prices maybe get cut in half. We would like the opportunity to have real volatility in the market because if it's just, we want the markets to go up 4% to 6% a year, that just plays to the existing asset holders. So I think this reflects, again, greater income inequality and a transfer of wealth from the young to the poor. And as a result, the young are ready to rock. They want volatility.
Kara Swisher · 29:42
So did you see how Jim Kramer went kind of crazy on this issue?
Scott Galloway · 29:46
Let's see, what did he say?
Kara Swisher · 29:48
Oh, he just wasn't liking it. He didn't like, he wanted the SEC to get in here and what's going on. Interesting, the different reactions.
Scott Galloway · 29:56
They're gonna come in. Is getting a little bit strange. The thing that worries me most about all of this is not Reddit. The thing that worries me most is Elon Musk. And that is the one truism throughout history. I think that is hard to deny is that power corrupts. And I'm not saying he's a corrupt person, but when one person can start moving, basically Bitcoin is moving towards a default currency. And when one person can take a default currency up or down 20%, 30% with one word tweets, that doesn't lead to good places. The reason why America to a certain extent, our greatness in America is all the checks and balances. And quite frankly, no one person has ever been able to corner the market. They get really hurt when they try and corner the market, whether it's the Hunt Brothers and Silver, whether it's Carnegie and Steel, what have you. And it strikes me that whether it's seven companies controlling 51% of the S and P by market capitalization, or an individual who has this kind of sway over the markets, that's frightening.
Kara Swisher · 30:57
It's true. It's sort of this cult, it's the cult of personality situation where you have, it's, you know, it's an autocracy does that a lot. Those are the sort of hallmarks of autocracy. But you're right, this is sort of... There's been a lot of stories about this that I read recently about this cult of how personalities can move things. Here's what Jim Kramer said. Obviously, Kramer is well known stock pundit. He said, we we need fair deep markets in an evening tweet. We want investing, good investing. We wanna trust prices. What happened at the end of the day was a mockery of what it was supposed to happen. Where is government? This is what he said, which I think a lot of people got, you know, slammed on. And then he wrote forty four minutes ago, I have been a polarizing figure all my life. So it isn't like I just turned into Jefferson or something. I do my homework. I try to outwork everyone. I say what I believe and for that I am hated by many, but I say game on. There you go from Jim Kramer.
Scott Galloway · 31:51
Well, here's the thing though. Where is Jim calling for legislation when he makes a comment about the fundamentals and the stock goes
Kara Swisher · 31:59
Well, he himself has been, you know, he runs stocks up and down too. Yeah. Well, point. Not quite the same way. We're just,
Scott Galloway · 32:07
the bottom line is the incumbent powers are just angry that we don't understand the mechanisms and the mediums that are, that these individuals are using to pump. What I think we're gonna find out though, is that the people who are doing the pumping and organizing it are more sophisticated and more the establishment than William Wallace than we'd like to believe.
Kara Swisher · 32:25
Interesting.
Scott Galloway · 32:26
Yeah. I think we're gonna find out it was the King's guard, not William Wallace, who was pumping this shit and making money. And they're leveraging a movement, they're leveraging this notion, people think they're sticking it to the man. But the note to say that to all of a sudden move in and say, all right, if there's systemic risk and volatility, then fine, let's look at the systemic risk and volatility that hedge funds who are able to short a stock to 140 of its outstanding shares, which I still don't understand how that happens.
Kara Swisher · 32:54
Yeah, they halted the stock. Again, if the stock's been halted, GameStop's been halted.
Scott Galloway · 32:58
This is again, and I would argue my word of caution all along is day trading is just a great way to lose money. And so if you're doing it for DOPA, fine, if you're doing it to learn fine, but don't kid yourself. When you sit down to day trade, you're sitting down at a poker table that doesn't take advantage of time. And two or three people at that table have super computers, PhDs, someone whispering in the ear and they have enough chips to ride out any bad hand. So just be sure that just be clear, you are at a poker table with the best players And in the typically if you looked at GameStop, I'm sorry, if you looked at Robinhood, they have this thing with the most popular stocks. If you just invested, if you kept buying the most popular stocks according to GameStop, there's been analysis that said you would have lost 80 to 95% of your capital. And here's the problem. When we have these platforms that are just quite frankly, trying to get you to create more activity because they sell your clicks, they sell your information, they sell your order flow, then that agency or that company is no longer a fiduciary. They no longer have your best interests at heart. They just want you to get to do more and more and more. Yeah. And that's what Robinhood is the new, in my opinion, Robinhood is the new Facebook. It is the new menace.
Kara Swisher · 34:12
Well, one of the things they... He was, you know, glad Tenev was all over the place in a lot of places talking about it because he was getting ahead of sort of all the insults that he endured and after when they closed trading, half of the trading down where you could... Where you couldn't buy Robinhood stock on their platform. Anyway, it's an interesting situation and I think the power dynamic is changing. It just... It's hard to know because you can also almost be on two sides of this thing. Like, well, you do need calm markets at the same time. Too bad. Like, this is what it is. So, it's certainly gonna... It's... We'll see where it ends. We will see where it ends. But I think you're right. Did you run far enough? Do you have enough running room there?
Scott Galloway · 34:51
Oh, thank you. Thank you for that. I feel loved. I feel loved.
Kara Swisher · 34:54
Okay.
Scott Galloway · 34:55
I feel good.
Kara Swisher · 34:56
Alright. You still have to listen to Sacha Baron Cohen. Anyway, moving on. Let's take a listener mail question.
Scott Galloway · 35:01
You've got you've got I can't believe I'm gonna be a mailman. You've got mail.
Speaker · 35:05
Hey. This is Colin calling from Austin, Texas where we have had six consecutive days with uninterrupted power. Do you think that companies that have relocated here in the last decade are going to be paying very close attention to what Texas leadership does to prevent another energy failure? If there's more Republican douchebaggery like blaming wind turbines, won't companies consider the potential damage to future recruiting? And won't other tech hubs like Miami leverage this disaster to lure businesses to their cities? Oh, and this question is 54.7% for Scott and 45.3% for Cara. Thank you.
Scott Galloway · 35:49
So primarily for Scott. Primarily
Kara Swisher · 35:52
for Primarily for think they were just throwing you a bone. That's called throwing you a Texas bone. I think that's interesting. I like Republican douchebaggery, but go right ahead, Scott. Do your 54.7%.
Scott Galloway · 36:02
Look, there's no doubt about it. Texas gets a black eye here and states like Florida and Texas that don't have, I'm of two minds about this. I to think, okay, anyone that doesn't have a state income tax has really weak infrastructure and really weak schools. And Florida quite frankly has weak public schools. Again, another transfer of wealth from
Kara Swisher · 36:21
the rich. And hurricanes.
Scott Galloway · 36:23
Texas Everybody hears comes out of this with a black eye. There's no doubt about it. In terms of his actual question of companies moving down, whether it'll force them to think twice, absolutely not. And you know why? These are the people that are immune from it. These are the people that can take off for Cancun. These are the people that can afford their own generators. So the reason people, the great migration in The U. S. Is driven by two things, sunshine and low taxes. And what you have is any individual that is sitting on an unrealized gain of greater than $10,000,000 and there's thousands, if not tens of thousands of people with SPACs and the markets accelerating thinks, you know what, if I have $130,000,000 a $13,000,000 unrealized gain because the stock market's gone crazy, or I was a shareholder in a SPAC, why don't I move to Miami and with my tax savings, I'll buy some big fat fucking house in Coral Gables, or I'll move Austin and buy some amazing home in the same neighborhood where Michael Dell lives on a golf course. So this, again, this stuff really impacts the lower income and middle income people. The rich are just fine. They're not boiling water in Austin.
Kara Swisher · 37:35
Well, it's interesting because I think one of the things that is true, though, is that I've had a lot of people who've made their... They're like, oh, this sucks. They called me. You know, like I was bragging about it. No, I'm not bragging about it. I do think Texas has got to figure out a way to get, you know, uninterrupted power is something... You know, they also have other weather issues, including all kinds of weather issues, and as does California, as does Florida, as does everybody. But I think it shows, like, Wall Street Journal had a great story about how much more expensive it's been power in
Scott Galloway · 38:03
Have you seen what's happened with these floating variable rate pricing?
Kara Swisher · 38:07
Not just that. Over the years, since they deregulated, people in Texas are paying more for power. The Wall Street Journal had a really interesting story. So they think they're being like, oh, we're Texas. We don't get regulated and they just get screwed. The consumer just gets screwed. That's what happens, through deregulation. And that these companies didn't upgrade, that they charge more. It's just sort of like, what a deal that you weren't on the national grid or you weren't regulated in any way. I do think it's it's it's something that Pete... It's not great. It's also not great. This is the second year that South by Southwest won't happen, won't be happening live as well. Much do we
Scott Galloway · 38:39
miss that? I miss South by Southwest. We're gonna be happy
Kara Swisher · 38:41
next year when we go and have a little barbecue together and do some lovely things there. But it's definitely a hit. That for example was a really good event for tech, like tech related stuff and you and I both went. So I think it's Elon's move there, which is interesting speaking of Elon. I don't think it's gonna be enormous hit. I just think it's Okay, something let's talk about it.
Scott Galloway · 39:06
Do you think Elon Musk has moved there?
Kara Swisher · 39:08
SpaceX probably.
Scott Galloway · 39:10
No, it has nothing to do with company
Kara Swisher · 39:11
The taxes. Okay.
Scott Galloway · 39:13
Okay. Elon Musk has added to his personal net worth the GDP of Hungary. He's gone from 10,000,000,000 to 160,000,000,000 in ten months. Oh, it's great to see that rich people are really feeling the pain of the pandemic. Anyways, dollars 150,000,000,000 in an unrealized gain because he hasn't sold the stock yet. In California, 13% of $150,000,000,000 is $19,500,000,000 So by moving to Texas, and when I say move to Texas, he buys a home there, he gets a vet there, he gets a dentist there, he registers to vote and he makes sure he's not in California more than one hundred and eighty three days a year, which by the way is easy for him because he's roaming the earth and his Gulfstream six fifty or he's in space or whatever he's doing. He gets $19,500,000,000 He can go out and say buy Williams Sonoma and Tiffany. I mean, it's just the amount of the, it's very simple. Find everyone with an enormous unrealized gain. And guess what? They got a hankering for Texas and Florida.
Kara Swisher · 40:12
Hankering. Where do you live, Scott? Florida.
Scott Galloway · 40:15
But I moved here when I was poor. I moved here in I've 20
Kara Swisher · 40:20
been paying heavy taxes for many years in both California, DC and Florida.
Scott Galloway · 40:23
My kids' grandparents are here. That's why we moved there.
Kara Swisher · 40:25
Oh, I see. It's nice. And my speech to late son couldn't The get into a Manhattan Republicans got to clean it up. You can't have this, you've got to clean up that energy market. It's just not
Scott Galloway · 40:35
They have their own grid. It's so strange. There's three grids. There's the Western, the Eastern and the Texas. The whole thing's strange.
Kara Swisher · 40:41
All the ERGOT board, they resigned. A whole bunch of them resigned. This is the board that runs this stuff. It's just... Read the Wall Street Journal. I recommend people reading this Wall Street Journal piece because it's sort of like, look looky here. This is not... This did not work out so well, the deregulation. In any case, things are settling. The weather is turning, but at the same time, thank you, Colin from Texas for
Scott Galloway · 41:02
But but just his question, it's not gonna slow. It's not gonna slow the migration of companies.
Kara Swisher · 41:07
Alright. I still don't see the Googles and the Facebooks moving yet. That's where I will be like, Oracle moves, yeah, whatever. I think that when you see the very big companies moving from California, that's when I'll pay attention.
Scott Galloway · 41:21
I don't know if I was gonna predict that one would move, then when I would predict it'll really rattle everybody.
Kara Swisher · 41:27
What, tell me.
Scott Galloway · 41:28
Salesforce. Mark Benioff spent a lot of time in Hawaii.
Kara Swisher · 41:34
Well, he does that already.
Scott Galloway · 41:35
Yeah, but so why not get anyways, I think Salesforce and they've embraced remote. Don't know.
Kara Swisher · 41:44
That's what they've done.
Scott Galloway · 41:45
He's a very, I don't know, a forward thinker. Also quite frankly, I think the governor has his head in the sand around this. I think both, I really don't think he's outlined
Kara Swisher · 41:54
state of political challenges.
Scott Galloway · 41:56
Yeah, but basically what they say is they break into some, when they're asked a legitimate question around how are you gonna stem the flow? Your state has basically become expensive but bad in the eyes of corporations. How are you gonna stem the exodus? And quite frankly, Governor Newsom's answers have been a bunch of California blah, blah, rah, rah. Rather than saying, acknowledging the issue and saying, this is our three step program to trying to fix this. I don't think he's
Kara Swisher · 42:22
sounding Well, like a not gonna defend some of the things he's done, but I have to say he's stymied by the proposition system. There's a lot that's stymies. A lot
Scott Galloway · 42:29
going on.
Kara Swisher · 42:30
In California. And they have been doing well for a decade, like under Jerry Brown, like it's been Agreed. Everybody gets hits their wall, every state. And so will Texas, by the way, and so will Florida. And probably much sooner, both of those. Think California, the California sort of miracle went on for a very long time.
Scott Galloway · 42:48
I'm telling you Kara, it is staggering, staggering. I'm going to an event that the mayor is hosting in Miami tonight, Mayor It is staggering the number of people and companies that feels like overnight have decamped to Florida. It is Well, just
Kara Swisher · 43:05
you give us a report on Monday how that party went.
Scott Galloway · 43:07
It's not a party, we're see him speak. We're gonna see him speak. I get arrested. Never been arrested.
Kara Swisher · 43:14
I'm teasing you. Florida's just Florida. We're gonna have a little event down there. Think. We're gonna have to... You talk to him about that. Yeah. See what we can do and kind of the interesting people we could, and and focus on the future. That's why I That's why him.
Scott Galloway · 43:26
That's dreamy Mayflora. He's
Kara Swisher · 43:29
a dreamy republican. Let's see. See if he's all Trumpy. Will you check that out? I don't think he is. He kinda...
Scott Galloway · 43:34
I don't think he is. He strikes me as practical and friendly and smart and
Kara Swisher · 43:37
I like him a lot. Speaking of Trumpy, Trumpy's gonna be in Orlando, like, trumping it up. And... No.
Scott Galloway · 43:42
Let's not even talk about it.
Kara Swisher · 43:43
Alright. Alright. Scott, one more quick break. We'll be back for predictions. I'm gonna let you really predict when we get back.
[Ad break]
— Predictions segment begins —
Kara Swisher · 44:54
Okay, Scott. Prediction time. Every year you make predictions, you make them all the time. And three have come true in 2021 so far. Bitcoin, which was trading at $18 now surpassed 50 or maybe 60 and there's more companies just announced, that they're gonna be buying it. Sonos was at $19 a share and you predicted it hit 40 and it happened. And also you said Twitter, which was at 40 is now at $60 a share when you said they'd moving to subscription. So take a little bow and tell me how you feel about each of these things or more stuff.
Scott Galloway · 45:24
Well, so actually Twitter's at, I think it's at 70, at 79.
Kara Swisher · 45:28
How long will you talk?
Scott Galloway · 45:29
No, it's at 79. I predicted it would go to 70. I was wrong, it's at 79. On a move to subscription. That's a novel idea. Look, so Bitcoin has tremendous heat around it. We've talked
Kara Swisher · 45:43
started about $79 almost.
Scott Galloway · 45:44
Yeah, $79.
Kara Swisher · 45:45
It's up 9%, 10% today. Woah, 78, 78, wow.
Scott Galloway · 45:50
Yeah, yeah. And why? Because they said they're finally getting serious about subscription. Anyway, and by the way, if they make an announcement, they should so buy CNN. Should so buy People
Kara Swisher · 45:59
love that idea. So many people have asked me about that, your prediction.
Scott Galloway · 46:03
Oh, it makes such perfect sense. AT and T needs to reduce their debt. If you look at what happened to Spotify and Netflix when they announced original content, if Jack Dorsey today announced they were acquiring CNN, the stock that day, that day the acquisition would be paid for in the stock increase. He could buy it for free right now. Anyway, so my prediction, I love this notion of who would benefit most. The most accretive actions in history in terms of shareholder value have been one verticalization. When you go right into content or your retailer, the reverse engineers back into the product itself and you go all vertical. And also move to a subscription model. And so I'm looking for great brands that could pull an Apple and go vertical into distribution like they did with stores or an Amazon. And I think that my prediction is that one of the strongest brands in the world, actually I think it's the strongest brand in the services economy globally and has underperformed all of its peers the last five years and would see an increase of 50 to 70% if they got serious about subscription or going vertical, is Goldman Sachs. I think Goldman Sachs is gonna attract an activist in the next nine months or, and by the way, full disclosure, I work with Goldman. I love them. I think they're great at what they do. I think there's a cartoon of them being weird, greedy, caricature, Monty Burns people. They have the core asset of any company in an information age. And that is they are seen and perceived in the marketplace by young people as an accelerant. The number of incredibly talented young people, mostly women now, because seven out of 10 high school valedictorians are women and and more women are graduating from college. The number of really impressive young people that continue to start their careers at Goldman is staggering. This is an incredible firm with incredible assets that has a head up their ass strategy that focuses on transactional deal based revenues. They go vertical, they buy a trading platform, and they start Like
Kara Swisher · 48:09
charging what? What trading platform?
Scott Galloway · 48:11
I don't know, the one I'm an investor in, public. Starts their hat wide. Don't take Robinhood public. What the fuck are you thinking? Go into trading. Do you know how many young people would pay $25 a month for advice, education, and investing advice and trading opportunities with Goldman Sachs? Call it GS plus Do a Disney plus move. If their revenue goes to 10% recurring revenue, and by the way, 400 of the 500 Fortune 500 would pay Goldman between 1 and $3,000,000 a year just for ongoing advice. Instead, what happens in a transactional business is when I'm on the board of Urban Outfitters, Goldman shows up and just tells us, says anything to get us to buy a company so they can get a fee. When I'm on the board of Gateway, Goldman shows up and says anything that leads us to selling Gateway so they can get their fee. They need to get on the side of subscription revenue. They need to go vertical. The thing goes up 50 to 80%.
Kara Swisher · 48:59
Okay.
Scott Galloway · 49:00
Goldman Sachs moves to subscription.
Kara Swisher · 49:04
What would be in their way for doing such a thing?
Scott Galloway · 49:07
Traditional poor strategic thinking and muscle memory around our model works.
Kara Swisher · 49:12
Muscle memory.
Scott Galloway · 49:12
We're paying our, you know, we're paying, we've always swung the golf club this way. We all make good money. Meanwhile, their shares have underperformed. Morgan Stanley's over performed. Do you realize Goldman Sachs is now worth less than, it's worth less than Wells Fargo, it's worth less than PayPal, It's worth less than Square. It's worth less than Airbnb. It has underperformed all its peers on a five year level and it has the best brand in the world.
Kara Swisher · 49:38
It does.
Scott Galloway · 49:38
The most
Kara Swisher · 49:38
talented- And it was with beautiful offices.
Scott Galloway · 49:41
The most talented young people in the world. Boom.
Kara Swisher · 49:45
Under failure. That's interesting.
Scott Galloway · 49:47
A failure of leadership around strategic thinking, a failure of
Kara Swisher · 49:50
Who the went board after DJ? DJ, whatever his name is.
Scott Galloway · 49:53
DJ Sol. You know, I think when you're talking about strategic thinking, you have to go back a generation because DJ Sol has actually been quite aggressive in moving into consumer businesses with Marcus and also with the Apple Card. I think he will be seen as somebody who said, I'm the one that took us to consumer, which is where they need to head. They need to go vertical into consumer. So I think he deserves some credit actually.
Kara Swisher · 50:15
Okay.
Scott Galloway · 50:15
But this has been the definition of baby boomer, encephalitic, I get paid a shit ton of money. I'm going to stick here. I
Kara Swisher · 50:23
compliment him, but baby boomer, encephalitic. Go ahead. Go ahead.
Scott Galloway · 50:27
Activists going into Goldman. Oh. And encourages them. And by the way, the best
Kara Swisher · 50:33
Which activist?
Scott Galloway · 50:34
Best Come way to you
Kara Swisher · 50:34
know something. Okay,
Scott Galloway · 50:35
hold on. I can't go there. Best way to predict the future is to make it happen. The best way to predict the future to make it happen. Goldman Sachs, Goldman Sachs, the most undervalued brand in the world right now.
Kara Swisher · 50:48
Well, that you just declared war on them, you understand?
Scott Galloway · 50:50
No, I didn't declare war on them. I'm gonna be a partner with them in this. I love Goldman. They manage my money. I love Goldman. Just think they're undervalued. Just think they're I massively
Kara Swisher · 50:58
think muscle memory is a very good, that's my takeaway from it is people doing, I I think about that a lot in media. This is the way we do it. Well, too bad. You know, like now this is the way we do. I think you talked... This is your theme today because you talked about it in GameStop. You talked about it here. Muscle memory is what you're talking about, getting rid of muscle memory. Correct?
Scott Galloway · 51:18
That's right.
Kara Swisher · 51:19
Stretching out, stretching those limbs.
Scott Galloway · 51:21
That's right.
Kara Swisher · 51:22
Stuff like that.
Scott Galloway · 51:22
The Yoganator.
Kara Swisher · 51:23
It's very Great Dane of you, I have to say.
Scott Galloway · 51:26
You like that, you like the Dane.
Kara Swisher · 51:27
Can't believe you're getting a Great Dane. Many dogs do you have, like 80?
Scott Galloway · 51:31
No, we have Zoe, our Vichla, who is 14.5 and is doing well, And really we have our Puerto Rican rescue Dachshund. We think it's a Dachshund, Felix, gangster.
Kara Swisher · 51:42
Okay, so you're ready for replacement for your older dog?
Scott Galloway · 51:46
100%. She's going soon. She's going.
Kara Swisher · 51:50
I'm readying a replacement for you. Which comes my that's so cruel
Scott Galloway · 51:57
to have
Kara Swisher · 51:58
this Dane just sitting there.
Scott Galloway · 51:59
Are you planning to adopt to rescue Sacha Baron Cohen? Are you already planning this? No, she's 14.5.
Kara Swisher · 52:08
She's such So let me ask you one last question. Who would really make you upset if I got an interview with? Just curious.
Scott Galloway · 52:14
We're still here. We're still here.
Kara Swisher · 52:16
Who would it be?
Scott Galloway · 52:17
No, I'm done.
Kara Swisher · 52:18
I'm done.
Scott Galloway · 52:18
I'm with... I'm playing this game.
Kara Swisher · 52:20
We would played it you be like, I cannot believe you talked
Scott Galloway · 52:22
to We that played it out.
Kara Swisher · 52:24
Just asking for a friend.
Scott Galloway · 52:25
If you could get it, if I say this person, have to, and you get this person, you have to put them on our show.
Kara Swisher · 52:34
Okay. Is it?
Scott Galloway · 52:35
Okay. You know who I would love, who is I think an incredible role model?
Kara Swisher · 52:39
Yeah, okay, tell me.
Scott Galloway · 52:40
I would love to have Mackenzie Phillips.
Kara Swisher · 52:42
Mackenzie
Scott Galloway · 52:43
Phillips. I'm sorry, Mackenzie Phillips, who the fuck's that? Oh, that's from Three's Company. Oh wait, no, that's from that old show. Remember her?
Kara Swisher · 52:47
Three's Company.
Scott Galloway · 52:48
From One Day at a Time.
Kara Swisher · 52:50
One Day at
Scott Galloway · 52:50
a That's who I want on this show. God, I'm literally... Hello.
Kara Swisher · 52:55
I know.
Scott Galloway · 52:56
Remember when we first started grandpa with dementia?
Kara Swisher · 52:59
Mackenzie Scott.
Scott Galloway · 53:00
Mackenzie Scott. Mackenzie's I famous
Kara Swisher · 53:02
get Mackenzie Scott. I'm doing a live interview in front of a thousand people.
Scott Galloway · 53:06
She's my hero. Not gonna do the whole big, like, look at me giving thing. I'm just gonna push money out to people who need it. Yeah. Like her. Think she has
Kara Swisher · 53:15
a of cannot make to that promise if I get Mackenzie Scott. I hung out with her many years ago. She's lovely.
Scott Galloway · 53:20
Yeah. Course she did.
Kara Swisher · 53:21
Is lovely. I haven't spoken to her in a million years.
Scott Galloway · 53:24
Love You literally said that just so you could get that person on sway, right?
Kara Swisher · 53:28
I don't know even how to reach her.
Scott Galloway · 53:29
Me too.
Kara Swisher · 53:29
Honestly, Mackenzie, if you're listening, hi, it's Kara again.
Scott Galloway · 53:32
We're huge fans.
Kara Swisher · 53:33
Spending the time we spent together.
Scott Galloway · 53:34
She was my twenty twenty person of the year.
Kara Swisher · 53:36
Okay. All right. Well, good. She's really great.
Scott Galloway · 53:38
What a thrill for
Kara Swisher · 53:39
her. Me just say, have picked a nice person, like who I always liked, who I always thought was a lovely, lovely, smart, erudite person, and now is doing really interesting,
Scott Galloway · 53:50
unusual Yeah, because she's not doing all this bullshit. You know what I can't stand, this whole movement towards space?
Kara Swisher · 53:55
What, space? Oh, might not Here's
Scott Galloway · 53:57
an idea.
Kara Swisher · 53:58
Love space.
Scott Galloway · 53:59
The most powerful people in the world shouldn't be talking about moving to Mars. They should be talking about making their home a better
Kara Swisher · 54:04
I... Well, you know, they think this is how to do it. Wrote about it because those pictures from Jupiter and and Mars were so beautiful. Did you see those?
Scott Galloway · 54:12
Yeah. I love the pictures.
Kara Swisher · 54:13
Literally, you could take, like, the zoom down to a rock. I was like, I'm looking at a rock 130,000,000 miles away.
Scott Galloway · 54:20
Don't you think it's kind of abdicating responsibility for making your home a better place?
Kara Swisher · 54:24
I don't know.
Scott Galloway · 54:25
I mean, granted sometimes, sometimes after arguments with my kids, I just want to get in my car and drive, but I decide to actually invest
Kara Swisher · 54:32
in I'm my house versus different than you. I think we should explore space. Think... But I think it shouldn't be by two billionaires, like Jeff Bezos and Elon Musk fighting it out. I think we should all invest in exploring the cosmos, not just for to bet to get our plan our... To be a multi planetary species, but that we... That there's things out there that would be great to explore. I know we've made a mess here, but it doesn't mean we shouldn't, go there.
Scott Galloway · 54:58
I think we should re explore steel towns and our manufacturing base and the red states and try and reinvigorate them instead of like all this sword fighting with their dicks. I'm going to Mars. No,
Kara Swisher · 55:09
There's I'm going to a lot of issues, but everything's not perfect at home and you still travel. I don't know. I just think it's part of the same thing.
Scott Galloway · 55:14
I think space travel, I'm I'm... One of my other predictions is I think, space travel and all the excitement around space, I think it's a technology that's gonna end in tears for investors. I think it's expensive and dangerous. It
Kara Swisher · 55:25
is expensive. The two... The the Mars mission was $2,700,000,000. I don't think it's meant to make money necessarily, but we know if they get...
Scott Galloway · 55:31
There are lot of people trying.
Kara Swisher · 55:33
There are lot people trying. You know, Musk is gonna put up a all civilian crew by the end of twenty twenty one. Bezos' Blue Origin, which we'll be focusing a lot more on people think, is gonna be putting humans in space for orbits at least, soon. So, yeah, we'll see. We'll see. We'll see. I'm I'm on the other side of that trade than you, but I don't know about the money part. Yeah. Okay. That's the show. That is Well, I the feel better. I feel better.
— Predictions segment ends —
Scott Galloway · 56:00
That is the show?
Kara Swisher · 56:01
I'm still on this planet without a vaccine like a lot of people, like way too many people. But anyway, I will get one. I will keep trying
Scott Galloway · 56:09
And... J and J coming out with a vaccine. Are.
Kara Swisher · 56:11
And J is coming out one that doesn't need to be refrigerated quite as,
Scott Galloway · 56:14
as much. One dose.
Kara Swisher · 56:16
One dose. True. Shows a lot of efficacy, which is going to be great. There's all kinds of good news, in lots of spaces. Israel, there's one last thing I'll say, which I didn't mention at the top was, you know, Israel's are showing huge rates of uptake, even though there's all kinds of still all kinds of problems there. And as you said, the J and J one dose has a 72% efficient at protecting against COVID-nineteen. That's pretty great. It's pretty great. Nice. All right, see we can do things. We can do things in this country and also, and also interview famous people like Mckenzie Scott.
Scott Galloway · 56:51
Alright. I'm I'm done. I'm done. Today's show was produced by Rebecca Sinanis. Ernie Indra Todd engineered this episode. Thanks also to Hana Rosen and Drew Burrows. Make sure you're subscribed to the show on Apple Podcasts or wherever you listen. If you liked our show, please recommend it to a friend. Thanks for listening to Pivot from New York Magazine and Vox Media. We'll be back next week for a breakdown of all things tech and business. Who gets mentioned by the most lovable Canadian in history, Andrew Ross Sorkin?
Kara Swisher · 57:15
The Doug where you get it.
Scott Galloway · 57:17
The dog
Kara Swisher · 57:18
when you get it.
Scott Galloway · 57:18
All I gotta say, Andrew, is woof.
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