Kara Swisher · 32:56
Lee and Lauren Bacall were walking in because he was giving her a tour. He was dressed in a tuxedo. She was dressed to the nines. And and he was like, hey, kid. Did you finish this tour? And I'm like, yes, sir. And then it was Lauren Bacall. It was like, wow, this is amazing that I stayed up all night and did this work.
Scott Galloway · 33:11
I find it more amazing you're that old. But anyways, go ahead.
Kara Swisher · 33:14
Know I'm that old. Nonetheless, I think there is a change in the workplace that if managers don't pay attention
Scott Galloway · 33:19
to Good point.
Kara Swisher · 33:19
Could get in big trouble.
Scott Galloway · 33:20
So so if it's just if it's just an abusive culture, right? So when I was at Morgan Stanley, you weren't allowed to leave literally. You weren't kind of as unwritten law. You couldn't leave before everyone senior to you, which was everyone had already left. And it felt like once a week, so it was probably once every other week. Wasn't as quite frankly, I just wasn't as good as the other analysts. I wasn't as well educated. I got a 2.27 GPA coming out of UCLA. And I decided that once every week, every other week, I'd go to work on a Tuesday morning, and I would stay till Wednesday night. I wouldn't go home. I'd work through the night to show that I was strong and try and impress people. And that that type of behavior was rewarded. And there was an abused children syndrome, and that is I have a little bit of that. I've created some of that culture in my companies because I was abused. And the reality is that's not healthy. And you're right. And there's more recognition that just grinding people for the sake of grinding people and for bragging rights and some sort of corporate macho bullshit, that's unhealthy. But the reason why I think that these guys right now, these men and women are working this hard right now, is that between SPACs and M and A, it is time to print money if you're an investment bank. And the rains don't last forever. So I think a lot of this... I don't think this is abused child syndrome. I think it's they don't have enough resources and the general viewpoint as well. If we have an opportunity to do a deal, we are going to do a deal. And if it means you work ninety hours instead of seventy hours. But again, there are two sides of this trade. If they wanna go to work for Deloitte or Ernst and Young and make half as much, they can have much more balance in their life. And my message to young people is this work life balanced up is a myth. There's only trade offs. And if you expect to be making a $500,000 a year by the time you're 30, which almost every analyst at Goldman does, get, you know, get used to it. Get used to
Kara Swisher · 34:59
it. Tough love from Scott Galloway. Tough love.
Scott Galloway · 35:03
Easy for me to say. Room service. Room service.
Kara Swisher · 35:05
There's a lot more coming on this. I don't know. I just feel there's a lot of pressures. Anyway... And probably lawsuits, etcetera. Alright. Listener mail, we're gonna listen to a question.
Scott Galloway · 35:14
You've got you've got
Kara Swisher · 35:15
I can't believe I'm gonna be a mailman.
Scott Galloway · 35:17
You've got mail.
Guest · 35:19
Hi, Kara and Scott. My name's Liam. I'm calling you from outside Boston. My question revolves around news consumption. I'm at the early stages of my career. I'm 27, and I'm curious how each of you consume the news today and how that's evolved over the course of your careers. I've really tried to make the switch from algorithmically served news in social media or news aggregators to going directly to the publishers I trust and choosing what articles I want to read. I'm also curious what percentage of the news you consume is directly related to your day to day work. For me, I only find it's 15% to 20%, and the rest is about becoming a more well rounded person. Thanks so much, and keep up the great work.
Scott Galloway · 36:01
It's an interesting question.
Kara Swisher · 36:02
It's a great question. Scott?
Scott Galloway · 36:05
You go first. I wanna think
Kara Swisher · 36:06
about it. Well, I I I actually read the major news news... Wall Street Journal, New York Times.
Scott Galloway · 36:11
How do you read them? You read them online?
Kara Swisher · 36:13
Online on an app. Mhmm. And I read them a lot, like a lot a lot all day. I also... I have to say Twitter has become my news... Go to news place. And I just... It just is. It's a... It works. It it has signal to noise ratio is excellent, and I find a lot of stuff I wouldn't have noticed. I wouldn't go, say, to the Atlantic that much. I just wouldn't. I just don't. But I do see a lot of Atlantic stuff there. I see things like, you know, a lot of these Substack, some of them that I like, like Casey Newton is one that I really like, and some others. So I do find them... And I wouldn't have necessarily gone to Taste Craziest Thing, I see him tweet it and then I'm interested. So I would say Twitter would be the place where I get on. I use... I consume so much news, it's crazy. And I do it for work, I guess, and also my... Because I love it. And, you know, I have a thing with Amanda where she's like, oh, you're gonna you're gonna read your news now. I have to like, it calms me down at night to to just consume Twitter information. Some of it's just jokes and memes and stuff like that. What about you?
Scott Galloway · 37:10
It disenthralls you.
Kara Swisher · 37:11
Yes. No, it enthralls me.
Scott Galloway · 37:15
Yeah, so Hudson or whatever it was called, DHS, the most valuable retail per square foot in the world used to be those stores in the airport where you'd pick up your newspapers and your magazines and your candy and your water before you got on a plane. And they're really hurting because people are no longer buying print before they get on a plane. I used to love newspapers and now I find I have this emotional attachment and I pick up newspaper papers, but I never actually read them. And so yeah, Twitter, absolutely. I like those email things you get in the morning saying five things you need to know about the market. But what's interesting is it's gone from broadcast. I think I just never watch television anymore unless it's The Queen's Gambit. And I used to get news from Dan Rather or whatever it was or Peter Jennings. That's just gone. And then it's no longer print, it's online. And it went to algorithmically driven. But you said something that fascinated me. You talked to someone, a survivalist or some and they asked the question, what is the one thing you would take into
Kara Swisher · 38:14
Blair Braverman.
Scott Galloway · 38:15
The jungle or a remote area, kind of naked and afraid kind of question. And I thought it was brilliant when she said another person. And I think about it now, the majority of the really good information I get is from other people. And that is, there's a group of people I work with who I just think are incredibly smart and have their pulse. Maria Petrova, Danielle Tia, Catherine Dillon, Jason Stavers, Emil Savaria. And they will forward me an article. And when they forward me an article, I read it. So I have my own personal editorial staff. When we pass around notes for Pivot the night before, I learn from that. Because I think it's interesting what you and Rebecca find interesting. And so I would say it's interesting. I've kind of moved to algorithm and then pass algorithmic to curation. And also if something's getting a ton of heat on Twitter, I click on it and I read it.
Kara Swisher · 39:03
Right, right, right. Rebecca, very briefly, what do you... How do you consume the news?
Guest · 39:08
I trust people. Like I find journalists that I like their work consistently and I follow them. And when they elevate something or they have an opinion, I think similar to what Scott is saying is like... Twitter. Yeah.
Scott Galloway · 39:21
Okay. Kara and I have decided that you clearly have too much time on your hands and we need you to
Kara Swisher · 39:25
work ninety five hours a week. Yeah. I have said already. This is
Scott Galloway · 39:31
this is the point where you say, fine. Pay me a $128,000 a year, bitch.
Kara Swisher · 39:36
That's... Just let
Scott Galloway · 39:37
me put words in your mouth.
Kara Swisher · 39:38
Alright. It's it's tough when you love your job. Yeah.
Guest · 39:41
It's hard to say... Like, I hear what Kara was saying. It's like, was always hard for me. It's like when you love what you do, it's hard to find that trade off. But yeah, pay me a $128,000 a year.
Kara Swisher · 39:51
Good luck on that one. Okay. Alright. Here's the deal.
Scott Galloway · 39:53
On the Vox Media Network.
Kara Swisher · 39:55
Vox Media Network. I have to say, getting back to both of them, I work all the time, and I like it. I I don't don't dislike it. And I make the choice, and I work harder than most people, and mostly everybody actually, and make more stuff, and I like it, and I make the choices for myself. So it's interesting. But not everybody does. Not
Scott Galloway · 40:14
everybody's That's the key point in there. And that is, I don't know, there are some people who have such genius that they can work forty or fifty hours a week while they're young and get to a certain level of economic success and relevance in their industry. Assume you are not that person. Because I don't know, I know some really talented people. I don't know anybody who's achieved a level of success and relevance and economic security that a lot
Kara Swisher · 40:41
of the
Scott Galloway · 40:42
people I know want to achieve that hasn't kind of given up a solid two decades to pretty much nothing but work. Nothing And but nothing. Well, pretty... I mean, when I look... I mean, when you really look back on it, when you look at hours, it's it's...
Kara Swisher · 40:56
It's a lot.
Scott Galloway · 40:57
And by the way, there's nothing wrong with deciding that's not for you to moving to a lower... Look. If you The bottom line is if you wanna live in New York and or raise a family in DC, you gotta make a 500,000 to a million bucks. And the only people that can make that are people who are outstanding at what they do. And I've never met anyone that's outstanding at what they do that doesn't pretty much work all the time for a good two decades.
Kara Swisher · 41:17
That's an interesting When I had a stroke, actually, someone said now you can work less. And I'm like, I'm gonna work more. I love it. I didn't like it. You won't... That old saying like on your deathbed, you're not gonna remember work. I'm like, I liked my work. I loved it. And I loved, of course I have a very big family and a lot of kids, and I love that too. But it was interesting that old sort of trope. I love what I do. I love it. And I think Scott does, and I think you do.
Scott Galloway · 41:42
But I've gotten there though. That's not what quite frankly, that's a better story and I believe it. Mine's not as romantic or as admirable, that is we didn't have any money growing up. And it was me and my mom, and I noticed our lives could have been a lot nicer if we'd had a little bit more money. I became very economically driven. My mom got sick, it really threw in my face that we didn't have money. And it was just, I've been just, I'm not proud to say this, I just decided at an early age, I am going to be economically secure. This is really important to me.
Kara Swisher · 42:16
It's a big driver for a lot of people.
Scott Galloway · 42:17
And those have been the embers that have burned. I worry about my kids, because my kids pretty much have everything. And if I were my kids, the only two things I'd know I have in my life as an adult male would be a Range Rover and a cocaine habit. So I don't Let
Kara Swisher · 42:33
me give you... Let me reassure you. I grew up really rich and I work and my brothers work harder than anybody else.
Scott Galloway · 42:39
There are people like you and you're exceptional and something, there's something and Lucky did something there.
Kara Swisher · 42:44
It wasn't Lucky. Lucky lies around and like eats cookies and
Scott Galloway · 42:47
eats And looks fabulous.
Kara Swisher · 42:48
Yeah. He doesn't have great fashion.
Scott Galloway · 42:50
I'm just saying I wouldn't have that drive. I wasn't trying to find something I loved. I was like, that's it. Yeah. I am never gonna be economically, vulnerable again. I'm just
Kara Swisher · 42:59
not here to say all rich kids don't end up, like, laying And it's...
Scott Galloway · 43:03
But I'm... What I'm saying is it's really admirable. I think it's really impressive. I I just wouldn't have been like... I wouldn't have been you.
Kara Swisher · 43:08
My mom was like, why are y'all working so much? I was like, I don't know. Anyway, this is a fascinating experience.
Scott Galloway · 43:13
Come to Barneys for lunch with me.
Kara Swisher · 43:15
She did. That's exactly right. Why are they, what are you doing?
Scott Galloway · 43:17
Come to, to lunch at Barneys.
Kara Swisher · 43:20
Same thing as my brother's. We all worked really hard and we didn't have to.
Scott Galloway · 43:23
Carol, let's go buy you a dress.
Kara Swisher · 43:25
Make sure it's yellow. I hate yellow. I had one discussion with my mother. I'm gonna repeat this. She goes, she goes, she goes, I got you a yellow dress. And I said, I hate dresses and I hate yellow. And she said, no, you don't. That is what she The
Scott Galloway · 43:39
buildup was better than that actual story, All just so you
Kara Swisher · 43:42
right, Scott.
Scott Galloway · 43:42
I'm gonna disenthrall you of the yellow dress story being Abraham being
Kara Swisher · 43:47
Lincoln is brilliant. Everybody watch.
Scott Galloway · 43:49
Yeah, Lincoln is brilliant.
Kara Swisher · 43:50
I agree. Got See, if me divide we fall or divided we would ever stand. It was so good. I I was shocked that it was so good, and Sterling, Sterling is amazing. Alright. Scott, one more quick break. We'll be back for predictions.
[Ad break]
— Predictions segment begins —
Kara Swisher · 45:39
Okay, Scott. Prediction time. It's all your... It's... The floor is yours.
Scott Galloway · 45:44
Microsoft will be the most valuable company in the world again. This Cool. Is like the only company in the world that's going to have a top 10 B2C and B2B Rundle. That's where the world is heading. Also Dispersion, they'll have both. They'll have the benefits of the huge studio game production industrial complex, which still has value. They'll still put out these huge iconic games. And... But they're also... They've got a platform now for community. They miss the whole social wave. This might be their way to kind of get back in more elegantly and tap into dispersion where you take developers and give them direct access to the end audience. Just think the more you read this thing, you're just like, this is just you know how occasionally you put on something and this never happens to me? Wow, this just feels right and I look good in it. I just keep reading about this. I'm like, god, this is just smart. This is smart. Anyways, Microsoft, most valuable company in the world.
Kara Swisher · 46:33
I think we should... That's a perfect. That's perfect. That's a great prediction. Yeah. I would agree with you. They already had passed that and they go back and forth with Amazon and I think Apple. There's a couple of them up in the top there. But, yes, I agree. I've always been surprised they've been the most valuable, and there they are. But he's just very quietly done a very good job as CEO, Tatu Nadella. Not flashy, not fancy, but making a lot of good decisions. And let me just say there were a lot of bad acquisitions Microsoft made for many years, if you recall all of them. And so this is really interesting. And they don't... They haven't attracted the attention of regulators, speaking of which, which we'll talk about on Monday what happened in in congress, today, which is happening right now, which is probably zip. But, anyway, we'll talk about it anyway. Okay. That's the show. We'll be back on Tuesday. Go to nymag.com/pivot to submit your questions for the podcast. The link is also in our show notes. Scott, read us out.
— Predictions segment ends —
Scott Galloway · 47:25
Today's episode was produced by Rebecca Sinanis. It was engineered by Ernie Indratot. If you like what you heard, please download, subscribe, recommend it to a friend. Also, thanks to Hannah Rosen and Drew Burrows. Thanks for listening to Pivot from New York Magazine and Box Media. We'll be back next week for a breakdown of all things tech and business where we will disenthrall your assets.
Kara Swisher · 47:47
Stop making fun of my hero Abraham Lincoln. How dare you?
