Pivot · Mar 27, 2020

Zoom stock surpasses airlines; MLB, NBA, Olympics are on pause — what happens to the media that covers them? And a Listener Mail about relief package guardrails.

Automatic transcript of the end of the episode, from 43:43. Speakers are labeled by software and may contain errors. Highlighted passages are Scott’s predictions.

Kara Swisher · 43:43 We're having, Esther Perel on to talk about relationships. I think relationships will be an interesting thing just to be... You're talking about. We're gonna take one more quick break. We'll be back for your prediction, Scott, because we need a prediction, mister hopeful, when we get back. [Ad break] Kara Swisher · 44:23 Chronic migraine, 15 or more headache days a month, each lasting four hours or more, can make me feel like a spectator in my own life. [Ad break] Kara Swisher · 45:17 Why wait? Ask your doctor, visit botoxchronicmigraine.com, or call 1844 to learn more. We're back, Scott. What can you predict for us? What is — Predictions segment begins — Scott Galloway · 45:28 in your crystal ball side? We usually end with a prediction. We're not Kara Swisher · 45:30 No. No. That's that's on Monday. We're gonna do it today as predictions. Scott Galloway · 45:34 Oh, well, I have a win and fail, though, and a prediction. Kara Swisher · 45:36 Can I do Scott Galloway · 45:36 all of them? Quickly. Okay. Okay. Kara Swisher · 45:37 Yes. Go ahead. Go right Scott Galloway · 45:39 ahead. So my fail is this back to work movement being sponsored by the president and Fox and this this lieutenant governor, Dan Patrick, trying to position this seniors Kara Swisher · 45:51 Nice guy. Scott Galloway · 45:51 That seniors are caring that if you want to express love for your children and your grandchildren, should go back to work because it's more important. The risk to your health is compensated by ensuring that Johnny and Jenny have a four zero one k. I just find that so insane. Kara Swisher · 46:08 He can go right ahead and die. Scott Galloway · 46:10 That's why Kara Swisher · 46:10 I mean, my mother... I read it to my mother who's Ms. Fox News still, and she's like, I'm not dying. What an idiot. He's crazy. Scott Galloway · 46:18 Like, that's not gonna put a stress on us. So Jack's dying. But ginkgo. My Samsung is up. Kara Swisher · 46:22 Glenn Beck. Glenn Beck said the same thing. Scott Galloway · 46:24 Oh, yeah. And you know what? It's not just them. I have a lot of friends who are who are business owners and private equity guys saying that we should think about certain people getting back to work sooner. If you had Dracula come into town and start killing people, and hopefully and this hasn't even happened yet, we still haven't flattened the curve, but let's assume we flattened the curve. Let's assume we injured Dracula and you saw him leaving town. You wouldn't just say, okay, let's wait till he gets back. He'd hunt his he'd hunt his ass down and put a stake through his heart. So we absolutely... This the notion that some people should go back to work under the auspices of some bullshit protective paternal notion of the economic well-being of our grandparents. You know you know what our kids want? They want us to be alive. That that... They don't... I mean, that is just so insane. And I would I would urge Kara Swisher · 47:12 He's a Trump supporter. Even the governor of Texas, this guy's the lieutenant governor, is sort of backing away from killing... My god. Also, they're killing off their they're killing off their constituents, which is amazing. This is like the Fox News group. But, you know, this was this was the new message on... After Fox has... Let me just say, Fox News is... Really needs to think hard about what it's... It's culpability in this whole thing. And and now they're double... Now they they sort of got okay for five minutes just like the president, and now they're moving into this ridiculous narrative. It's just... I I... You know, Tucker Carlson for five seconds was was decent. And so now he's not. He's indecent in this regard bringing this guy on. It was on the Tucker Carlson show. So I need a prediction from you, Scott. Scott Galloway · 47:54 Well, I'm sorry. I'm not done. I'm not done. And by the Kara Swisher · 47:57 Keep going. Okay. Keep going. Speaker · 47:58 Keep going. Scott Galloway · 47:58 What a shocker Cara is disappointed in Fox News. The the Kara Swisher · 48:02 Oh, come on. Scott Galloway · 48:03 But think about this. Think about this. Right? If if we've... Let's assume we flatten the curve and keep socially distancing. If this thing comes back, it goes from being a pandemic to a plague. Think about most of us have had cancer in our lives. And it's meaningful when someone gets cancer. What's profound is when it recurs. That's when you go, okay, we got to really start thinking about what this means. And if this thing goes away and comes back because Lieutenant Governor Dan Patrick convinces some old people, the most vulnerable amongst our population, to go back to work, that could go from a pandemic to a plague. That could go from tragic to absolutely devastating on a on a global level. I just think that is the height of recklessness and irresponsibility. Kara Swisher · 48:47 But Dan Patrick, you certainly can die for the rest of us. Scott Galloway · 48:50 Dan Patrick, I make this offer now, just so you can get in touch with the risk adjusted risks you are asking people to take here. Go on a ventilator for an hour and just check out how much fun that is, and whether you think this is worth the risk. But anyways, that's a bit incendiary. My win is the Netflix series... This is a hard segue. My win is the Netflix series Tiger King. Have you seen this No. Oh my god. It's a... It's genius. It's this guy. He is a gay polygamist who carries a gun and has one of these big cat zoos. This guy has... This guy is living his best life. Quick fun fact. There are more big cats in captivity in The US than there are in the wild. It's a very strange segment of people. Also, people that own monkeys are weird, but people that own big cats are mean. I'm learning that now. But it's on Netflix. It's this fantastic series about just how strange America is. Anyways, that's my win, Tiger King on Netflix. My losers is back to work. You want a prediction, right? Kara Swisher · 49:52 Yes. I want a prediction. Scott Galloway · 49:53 Okay. A prediction. So... Kara Swisher · 49:56 What companies are gonna... Give me some companies. Scott Galloway · 49:58 Well, I'll go bigger than that. Kara Swisher · 50:00 You said Carnival before. I'm thinking maybe you're wrong on that. Scott Galloway · 50:03 I'll go bigger than that. I'm going meta here. The markets never form a V. If you look at all economic crises in the past, we usually bounce across the bottom, go up a little, and then retest the lows. And then about three to five months later, typically you have the market revert to its twenty week average that happened in '8. It happened in the seventies. It happened in the great depression. This two day run we've had for the first time since February, we've had two back to back obsessions. This is a head fake, Kara. We're gonna test new lows. It it just feels Wow. Where when you start to see some of the footage that's about to come from the surge, unfortunately, and some of the employment numbers and the recognition that government stimulus can only do so much. I think this is, I think the markets are gonna test new lows here. This is a head fake. We don't have a v here. We're gonna have something bounce along the bottom and then go down again, and then and then the markets will begin to recover. So anyways, and it's a... I don't like this prediction, but I think we're gonna test new lows in the Dow and the S and P Kara Swisher · 51:10 the Scott Galloway · 51:10 Test next new lows. Over the next fifteen to thirty Kara Swisher · 51:12 to Okay. 30 Well, that's a frigging bummer after a little hopeful thing. Anyway, — Predictions segment ends — Scott Galloway · 51:17 before It's just money. Kara Swisher · 51:18 Show. I just... You know what? I'm not gonna watch it. I'm just gonna wait. In twenty years from now, I'll I'll look again. That's what I'm gonna do when I need to actually retire, just look in twenty years. That's my that's my plan. That's my pandemic plan. It's like, hopefully, we'll be better in twenty years when I need to sell out. Anyway, before we end the show, I wanna talk about an interview I did with Deepak Chopra for Recode, Decode about the global pandemic. It is out today, and it's about how it is impacting society and what we can do. Let's give it a listen. Speaker · 51:47 I think what is not being addressed right now is the pandemic of extreme fear, perception of helplessness, panic and stress. And what is not being addressed is that this pandemic does not, the pandemic of panic, not respect social physical distancing. And it is much more dangerous because stress and helplessness and panic also create irrational behavior, but they also turn our biology into chaos. Kara Swisher · 52:31 Are you in chaos, Scott? This is it. It was a different interview. It was a little scary sometimes. Sometimes he suggests everyone what everyone can do to get through the good times, get good sleep, manage stress through anything, music, poetry, dance, meditation. Scott, please don't dance. Nutrition and investing in intimate relationships. Scott, I need you to listen to this. Scott Galloway · 52:50 Yeah, I do, and as long as we're now like whoring out our other podcasts, I interviewed Jonathan Hite yesterday, and he had Horing. Kara Swisher · 52:57 We're not whoring out. Scott Galloway · 52:58 Jesus Christ. Speaker · 52:59 What did Scott Galloway · 52:59 you do? What did you... Kara Swisher · 53:00 Talk about... Scott Galloway · 53:01 You're such listen to pimp. If I ever need money, I'm just gonna have you pimp me out. My god. Kara Swisher · 53:05 Listen to me. Jess, what did Jonathan Hite say? He was Scott Galloway · 53:09 said something interesting, and that is if you look throughout history, as a species, we're very good at recovery in terms of our groups rallying and cooperating when there's an enemy that sort of looks like us invade us. We rally together, war, invasion, or aliens showing up. What Reagan said about the notion that if aliens invaded or what he said to Gorbachev, we'd all be friends. Kara Swisher · 53:30 I wish aliens would invade. Scott Galloway · 53:32 But go ahead. They don't do is with pestilence or pathogens, tend to get very feral and selfish. So this is kind of the worst of all worlds. That is we are not our initial instinct here is not a positive one. Because when a pathogen comes along, we not only don't come together or unite sometimes instinctively, we, in fact, are afraid of each other. And what's really tragic on a human level, I was speaking to a friend whose son is being diagnosed with COVID and has some underlying health issues, and you could just hear in this guy's voice just how upset he is. And it goes against every instinct because if your son is not doing well, if one of your kids isn't doing well, your your initial... Your... Just your absolute reflex instinct is to go be with them and wrap your arms around them. And you can't Speaker · 54:20 do that. Scott Galloway · 54:20 This guy's Right. This guy's in his sixties. He has to distance from them. So it's just... It's kinda like tragedy on top of a counter, you know, counterintuition to your most basic instincts. But we have never had, at least as far as I can tell in a while, this type of... Okay. Hold on. I seriously hear someone doing dishes in Speaker · 54:39 know. The Kara Swisher · 54:40 Alex, you have to stop. You have to stop for a second. We're almost done. It's my son. He's cooking, and he's not listening to me when I told him not to. You're gonna have to stop for five minutes, and I'll be done. Speaker · 54:50 It's not gonna stop, isn't it? Kara Swisher · 54:52 Can you just take it off the thing? Speaker · 54:53 Take it off. Scott Galloway · 54:54 I'll just turn Speaker · 54:55 off the heat. It's just sitting. Kara Swisher · 54:56 Okay. Alright. Okay. Just don't move for five minutes. Okay? We'll be done in five minutes. Sorry about that, Scott. Go ahead. Scott Galloway · 55:01 Oh, I hope we're recording this. I hope we're recording this. You are. Big hitter Kara Swisher can't get her son to turn off the tits. Can't cut her son to stop washing dishes. Kara Swisher · 55:09 You know what? My son is cooking his own food, mister Scott Galloway · 55:12 I'm telling you. One word. Minivan. Drive them all into Kara Swisher · 55:15 a lane. Scott Galloway · 55:16 All into a lane. Kara Swisher · 55:17 No, he's cooking his own food. My son is a great cook. Both my sons are great cooks and they take care of themselves because that's the kind of men they are. So you better start growing your own that way. Scott Galloway · 55:25 I do need to grow Anyway, up there, so what we were talking about, I totally lost my train of thought. Kara Swisher · 55:31 You sang Jonathan Haid on Listen, your just listen. Okay, so you can't be with them and that is a scary situation. Scott Galloway · 55:39 Yeah, it's very, it's just counter, it's obviously counter to all all our natural instincts. But I just wanna leave with a message. You know, I don't... I've been saying to everybody where I've been loud and proud saying, okay, fourteen days, six feet, it ends up that it's probably gonna be longer than fourteen days. And just this notion that... This notion that we're thinking about back to work, I really find that scary. And the best thing we can do for the economy, the best thing we can do such we don't have been in a situation that is totally counter to our instincts, would be to continue to distance. And I hope that everybody recognizes every time they don't they don't embrace someone physically, but embrace them digitally. That's a form of love here. We need to love people we have not met yet by ensuring this thing... We need to hunt down Dracula and put a stake in its fucking heart and make sure that the sun comes up and this thing turns to dust. That's Kara Swisher · 56:31 my piece. I think so. And you should listen to that on Professor Gene, is his new podcast that he's cheating on me with. Anyway, don't forget if you have a story in the news and you're curious about what you wanna hear opinion on, email us at pivot@voxmedia.com to be featured on the show. Scott, please read us out. Professor G, please lead Scott Galloway · 56:46 us... Today's episode was produced by Rebecca Sinanis. Erica Anderson is our executive producer. Special thanks to Drew Burrows and Rebecca Castro. If you like what you heard, please subscribe or download. This is such an important time. This is our generation's test. Let's live up to the let's live up to the memory of so many people who made such bigger, more dramatic sacrifices than us, such that we could have the freedoms and the opportunities to be... To to to live this wonderful life in such a wonderful country. Your parents were called or your grandparents were called to Vietnam or World War two. We've been called to sit on our couch and reach out to people via Zoom. We've got this, Kara. We've got this. Kara Swisher · 57:31 Alright. Thanks for listening to Pivot from Vox Media. We'll be back next week with another breakdown of all things tech and business. Okay. Stop talking now. Okay. Go ahead. Sorry. Scott Galloway · 57:40 You are so much more patient than me. I'd be like, who pays for that fucking cereal, jackass? Shut it up. 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