Scott Galloway · 39:20
Top of the funnel to drive drive traffic to something else you can monetize. I've never been able to figure out a way to monetize it, but I find it's an incredible way to create awareness for another business.
Kara Swisher · 39:29
What about Facebook? You don't use Facebook as much, do you?
Scott Galloway · 39:31
No, I don't. I I... First off, I was one of the idiots that put my videos Facebook, and I got this reporting back that said you had 3,000,000 views, and it ends up, what a shocker, that the reporting was not accurate.
Kara Swisher · 39:41
Yeah.
Scott Galloway · 39:42
And that, you know, companies took a ton of money and put it on Facebook video thinking that they
Kara Swisher · 39:47
And then jumped, and then jumped. Yeah. And what they did is they went out, they attracted... Listen. I had a I had a really interesting dinner once in Las Vegas with this creepy old ad guy. I... I'll never forget it because he's very famous creepy old ad guy.
Scott Galloway · 40:00
You, Vegas creepy old ad guy. Those are three things I didn't expect in the same
Kara Swisher · 40:06
after discussing how he put all kinds of wireless stuff in his house, which I was like, I'm gonna kill myself at this moment. He was explaining how he would buy an ad on our show, like our thing, and then it would jump, and then it would... Or on our website. And then it it would attract the kind of people they wanted to, and then they would go where they go next. And they buy the next and the next one because that was a a quantum level of cheaper. So we're just using you. And I was like, what? Like, and he explained it so perfectly to me that I was like, oh, I'm like the, you know, the honeypot, and then they go off and buy cheaper sides. He goes, yeah, it's really easy. It's the best thing to do. And I was like, oh, right.
Scott Galloway · 40:48
But most importantly, where did you have dinner in Vegas?
Kara Swisher · 40:51
I don't remember. One of the... Don't remember. One of those steak houses that are just, like, awful and large giant steaks. I don't remember.
Scott Galloway · 40:59
Oh, I love Vegas. God. Love
Kara Swisher · 41:00
it. Well, we... You and I will go back together.
Scott Galloway · 41:09
There we go again. More promises. More promises.
Kara Swisher · 41:12
Just saying.
Scott Galloway · 41:12
Yeah.
Kara Swisher · 41:12
I am gonna do something in D... Who was I gonna interest you to in DC? I forget.
Scott Galloway · 41:16
I don't know. I'm in.
Kara Swisher · 41:17
I don't know. Someone. Alright. We're gonna
Scott Galloway · 41:18
do that. Okay. For the dog. Yeah. Anyway, we'll socialized.
Kara Swisher · 41:22
You'll Anyone. Alright, Scott. We're gonna take a quick break.
Scott Galloway · 41:26
Great.
Kara Swisher · 41:26
This has been a fascinating discussion today. As you... What is going on with us? We're having fascinating discussions. Anyway, we'll take one more quick break, we'll be back for your prediction.
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— Predictions segment begins —
Kara Swisher · 42:25
Okay, Scott. Fonts have a lot of wisdom today. We've really missed your predictions on the podcast this We...
Scott Galloway · 42:32
What? I'm fonted. Font.
Kara Swisher · 42:34
Fonted. Yeah. Font. You're a font. You're a font. You're an oracle. Not Larry Ellison's oracle, but an oracle. Anyway, we've missed your predictions in the podcast last month, so let's give us something juicy. And by the way, let me just... Before you do that, you are correct. There still is no deal announced for TikTok, as you said it's going to
Scott Galloway · 42:53
Right. There was supposed rumor that it
Kara Swisher · 42:54
was Yeah. Announced the next think the Chinese put a put a wrench in it. You know?
Scott Galloway · 42:59
They're gonna put wrench the size of an aircraft carrier in it.
Kara Swisher · 43:02
Yeah. Think with with their export. Nobody wants to buy a TikTok without the algorithm. Nobody wants it.
Scott Galloway · 43:07
And it really... I I feel as if I have to understand these things. I went on TikTok, and you've always said this. That algorithm is... Just wake up two hours later, and you're like Yeah. Am I still watching these things?
Kara Swisher · 43:17
Tie dye. I wanna tie dye something. Speaking of which, my tie dye wear... You should have answered my son's question, by the way, because it was a good question. You talked about how professors teach better online. You gave them tips. But how do students use the platform better when they have to constantly be in a Zoom meeting? How do you concentrate? I didn't say he couldn't concentrate. You should have answered this question. You were just obsessed with his hair.
Scott Galloway · 43:37
Oh my god.
Kara Swisher · 43:38
By the way, he got a he got a haircut, and he still has more hair
Scott Galloway · 43:42
than you
Kara Swisher · 43:42
will ever have. He still got a massive haircut and
Scott Galloway · 43:45
still has a lot of I literally see him at the NYU dorms right now as we speak saying, ladies, do you want to come over and check out my vintage collection of curling irons? I heard nothing when I saw that young man's hair. Oh, I am so jealous. It is so good to be Louis Swisher for a lot
Kara Swisher · 44:01
of reasons. He literally got half that hair taken off, and he still has a huge curly head of hair. I was like
Scott Galloway · 44:08
Good god.
Kara Swisher · 44:08
It's still long. It's still beautiful.
Scott Galloway · 44:10
All I know is... The only thing I know that he is not doing at NYU is distancing. If I had that hair
Kara Swisher · 44:16
Yes. He is. He is. I'm telling you. He is. He just wanted, like, how do you how do you study online better than offline? That's was his question.
Scott Galloway · 44:24
And you've given chance to teach for you. Next week. The locker's top.
Kara Swisher · 44:28
Week. I want you to come up with it thoughtful instead of making fun of his beautiful locks, which are stunning. I told him to send the bag of hair to you. Anyway, alright. So your would prediction here. Is know.
Scott Galloway · 44:39
What is this? What's a bag of hair? Where's my bag of stoop? Anyways, okay. Predictions. Look. When you have I remember going to Hungary in the early '90s after business school changing 100 Deutschmarks, and I got a suitcase of money and thinking, Oh my god, I gotta go shopping. Once I get that mugger, I gotta go shopping. Then you got to Hungary and you realize there's nothing to buy. But essentially, Shopify and Zoom have a bag full of forints, which is the old Hungarian currency, and they need to go shopping. Forints. The currency, any acquisition, they could literally buy the most, they could buy Peloton and it would be accretive. They could buy...
Kara Swisher · 45:23
It's going to Apple according to you.
Scott Galloway · 45:25
Yeah. Well, think Peloton... Well, that's... From a brand fit, it's the most logical one. We'll see. Apple doesn't like to make acquisitions. But, anyways, Apple's gonna be in the connected fitness space. It's a question of whether they go in personally or if they make an acquisition. But, anyways, the two companies that are going to make really some really bold, you could see a Shopify acquire FedEx. That's the kind of currency they have now. It's just so striking how how much these firms are worth. So Shopify, my prediction is Shopify and or Zoom are going to make just these titanic acquisitions. Okay.
Kara Swisher · 46:00
FedEx. I like FedEx. That's interesting. Alright. You still have not given me... You said you said a telco for Zoom, but you didn't... There isn't one.
Scott Galloway · 46:07
Hard to imagine. Yeah. There's just... It's Yeah. There isn't one available.
Kara Swisher · 46:10
So what else if not a telco, what else is there?
Scott Galloway · 46:13
It's a really interesting company. You could say a question. You think, well, should... Could they forward integrate into hardware to try and control the But there's very few things available there. Right,
Kara Swisher · 46:25
it's Apple and Google, right?
Scott Galloway · 46:26
They could reverse engineer into content and decide that they're offering things like, I mean, example, LinkedIn is getting into education and they could go into content. I don't know, they're going to forward, obviously go forward or go backward. Okay. I don't know. Cable company? Something... Cable. Cable. We'll see. Something in communications or hardware. I...
Kara Swisher · 46:44
Alright. And then and then Shopify, FedEx, love. But not FedEx. That guy's not gonna sell.
Scott Galloway · 46:49
Yeah, yeah, but what about Shopify could do some very interesting things. What if Shopify I mean, I don't think you would sell, but what if Shopify acquired Simon Properties? What if they acquired Simon spun their BNC loan.
Kara Swisher · 47:06
Yeah, saw that.
Scott Galloway · 47:07
Yeah. Basically, they're good bank, bad bank. There's the stuff where wealthy people go that's on amazing land.
Kara Swisher · 47:13
So for distribution, not for retail, for distribution.
Scott Galloway · 47:16
Basically, as a service, providing tools to small and medium sized business. What if they provided 7,000,000 feet on short term leases to people? Say you want a store for six months?
Kara Swisher · 47:28
Yeah. Just
Scott Galloway · 47:29
test it, we're very good at this, we'll put you in six markets around.
Kara Swisher · 47:32
Can I get in that vent? That thing, I was just walking down the street in DC and I walked, it was in New York. So many empty, empty, empty storefronts. What is gonna happen with all of those?
Scott Galloway · 47:42
Well, we've been, people ask us it's
Kara Swisher · 47:44
Downtown DC, just empty.
Scott Galloway · 47:46
Yeah, the down, so essentially people are asking the destruction in retail, we're gonna lose I think 25,000 stores this year. Yeah. Is it structural or is it cyclical? And the answer is yes. It's going to come back, but it's not gonna return to the levels we were at. We've been saying for ten years that
Kara Swisher · 48:01
Sandwich shops, it's all sandwich shops that stayed.
Scott Galloway · 48:03
America's overstored and regression to the mean is still the most powerful force in the universe and we're regressing to the mean in a very, very violent way. But retail is still going to be, I mean we're still going to have, we're still gonna be
Kara Swisher · 48:16
What six retail is gonna be in these, and who's gonna be in these office space? I just was like, this is like...
Scott Galloway · 48:21
It's an interesting question.
Kara Swisher · 48:23
Let's think about that next week. It's an interesting question because now we've sort of like hollowed out retail and delivery. Was just thinking about my relationship with Amazon. I order... I try to go to stores, so they just don't have the stuff. Right? Right. Like, they don't have what I'm looking for. And Amazon always has a choice. Right? There's, like, six things to choose from. So I was like, I I order far too much stuff from Amazon. Or, you know, I do other sites, but I tend to do Amazon because you... The return policy is so easy. I hope other retailers do a better return policy because I bought something from a store that wasn't Amazon, and it was, like, onerous to return it because it wasn't quite wrote. Amazon is so easy. It's printing out something and sending it back via UPS, calling UPS.
Scott Galloway · 49:04
Yeah. But think of it a different way. Think of it as they're not stores, they're distribution centers, they're warehouses. Yeah. Really interesting company that hasn't been in the news much, I wonder if it ends up, for example, an interesting company for Shopify to purchase would be Prologis.
Kara Swisher · 49:22
Oh, Which is
Scott Galloway · 49:23
the largest, one of the most valuable REITs in the world, run by kind of the biggest brain in the real estate industry, Hamid Mogadam. But they basically set up warehouses next to every transportation hub or airport in the world. Yeah. And they're a beneficiary of all of this, right?
Kara Swisher · 49:37
Yep. That's a great idea. Logistics, it's gotta be logistics.
Scott Galloway · 49:43
One of the best pivots in history, Best Buy, that was supposed, was written off for dead on one of the best performing stocks in last ten years, a very, very impressive visionary CEO there said, Let's stop thinking about our stores as liabilities. Let's think of them as assets and distribution centers. And now if you order a flat screen television in Delray Beach, it's a filled out of the Boca Raton store, Best Buy, faster than if you ordered it from Amazon. I'm actually, I think there's probably from an investment standpoint, a lot of the retailers that have been so beaten down, or a lot of, I would just say, owners of real estate are actually probably pretty interesting places to look right now. Anyways, we'll see.
Kara Swisher · 50:19
Alright. Okay. Good. These are really good predictions. Scott, this is a substantive show because, by the way, we're not gonna be on on Monday because it's Labor Day.
— Predictions segment ends —
Scott Galloway · 50:26
Labor Day.
Kara Swisher · 50:27
We're... And so next Thursday, we're gonna read from the Palantir thing. You're gonna come back with some thoughts on on what Zoom should buy. We've got a lot of assignments for the weekend. Okay? Homework.
Scott Galloway · 50:37
Not going. Homework.
Kara Swisher · 50:38
What are you doing what are you doing for Labor Day weekend?
Scott Galloway · 50:40
When I'm ready for Labor Day, I'm going... I'm packing up the car and heading back to, Florida where hopefully Back
Kara Swisher · 50:48
in Florida? You escaped Florida when coronavirus was going crazy.
Scott Galloway · 50:52
From Florida? Jeez.
Kara Swisher · 50:53
I never go to Florida. My son calls things the Florida man. He's like, he doesn't love Florida. Yeah. Like something dumb happens. He's like, did it happen in Florida? And I'm like, in fact, it did.
Scott Galloway · 51:02
I know.
Kara Swisher · 51:04
No. I'm I'm at the beach. I'm at the beach right now.
Scott Galloway · 51:06
Where where... What beach?
Kara Swisher · 51:09
Rehoboth. Rehoboth. Friend of mine has a house. It's an empty house.
Scott Galloway · 51:12
Right out of college, just go down there and get shitty Beautiful.
Kara Swisher · 51:15
No. It's beautiful. It's very It's very pretty. I'm here with one of my children, and two of my children, excuse me. And then, and then we'll go back to work on Monday because my podcast is starting soon, but I'll tell you about that
Scott Galloway · 51:28
next What's the official launch date of the New York Times podcast?
Kara Swisher · 51:31
It's called Sway. Just so you know, that that that was out in New York Magazine. Yes. Necroix wrote about it. Swage.
Scott Galloway · 51:38
A gay club or launching a podcast.
Kara Swisher · 51:40
What You know what? You made fun of school. You made fun of the name Pivot. I cannot listen to you on naming. Okay?
Scott Galloway · 51:46
Naming is not... You have a lot of strengths. Naming is not one of them.
Kara Swisher · 51:49
I mean, I'm to say, is Pivot working out for you though? I haven't thought about I thought of that one. I thought of Pivot Schooled. I'm going to stick with my... Sway. This was my idea. Yes. Yeah. You'll see. They're doing amazing marketing around it, The New York Times doing. It's gonna be great. Sway. Yeah. Because I have it. Look it up. Look up the word and start to... You'll see. You'll see. It'll become a thing. It'll become a thing.
Scott Galloway · 52:11
Alright.
Kara Swisher · 52:11
Yeah. I'm gonna make fetch happen. I'm gonna make Sway happen. Anyway, alright. So just so you know, we'll be airing a recording of Pivot Schooled, which Carys was your name, episode The Sharing Capitalist featuring an interview with Uber CEO Dara Khosrushahi in place of Tuesday's regular episode. It's a great episode. It's really interesting. Although Scott declined to say that Dark Hostess Scotty put lipstick on cancer. I was hoping for that to happen, but it didn't. It was a really great show. And you... And and so so were the rest, and especially last week's... This past week's was really great. And we hope you'll listen to it. It's for free, and and please listen. Scott, will you read us out?
Scott Galloway · 52:52
Today's show was produced by Rebecca Simonis. Fernando Finete engineered this episode, and Erica Anderson is Pivot's executive producer. Make sure you're subscribed to the show on Apple Podcasts. Or if you're an Android user, check us out on Spotify or wherever you listen to podcasts. 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. Vintage curling irons, come to my room.
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