Scott Galloway · 35:54
You become very generous, and that is big severance packages. You try and do it in a way that is dignified because people should be disappointed, but they shouldn't be scared. They shouldn't be like, oh, fuck. How am I gonna pay my mortgage? Especially if you're a company that is doing well and has cash. I don't know the specifics. I think the severance is gonna be more than that. If it's just four weeks before the holidays, that too is a fuck up on top of a fuck up. Mhmm. The strange thing is as soon as I heard the story, I went on Google, and I I love tracking the number of news hits.
Kara Swisher · 36:30
Mhmm.
Scott Galloway · 36:30
And this is what's really sad about this, and this isn't a comment about Better, but a comment about our society. You know what's going happen to their business in the next thirty
Kara Swisher · 36:37
days? What?
Scott Galloway · 36:38
It's going to go up. Because we live in a society now where awareness is kind of the key attribute because people are like, oh, they've heard of a company called Better. Oh, I'm thinking about an online mortgage. Can I get a lower interest rate? And now they've heard of this company. I'm not excusing it in any way, but I think part of the innovator's dilemma here, what's dangerous about our society, is it's more important to be in the news than it is what you're in the news for when you're a tech company. Just... You're just part of the narrative. But there's just no getting... I... Just no getting around it. I know Vishal. I like him. Brilliant product guy. It's an amazing company. It's despacking with SoftBank. It's an it's just an incredible company. He's done an amazing job. God, did he fuck up. I mean Yeah. You just... That was so tone deaf. And around the holidays, the company has the money. Don't think it's gonna be four week severance. I'm almost entirely positive it's gonna be much more than that. But compare and contrast it with what Brian Chesky did around his layoffs. He did.
Kara Swisher · 37:39
And and they were... People were unhappy anyway. You know, I got a lot of pushback when I complimented They were like, I didn't do this. I was like, boys, lot... No one's gonna be happy with everything.
Scott Galloway · 37:49
Yeah. I don't... I mean, what are your thoughts on this? I don't... I I think it's a speed bump. I don't really think it's gonna affect the company long term. That doesn't excuse it. But there's a lot of lessons here around Lang. I remember when my first company... We've gone ten seconds without talking about Scott, so let's fix that. But my first company, Profit, we... Brand strategy firm, brought in a CEO, raised some money, and immediately went from 60 to 120 people. Hired, huge massive hiring. Business softens. I think it was the 2000 and... I forget which recession it was. And And I had to call 40 people into a room and say everybody in this room is being laid off. Yeah. And it's just... And these are these are kids who just got out of business school, who had a lot of opportunity, a lot of options, bought into our vision, moved to moved to San Francisco.
Kara Swisher · 38:40
Mhmm.
Scott Galloway · 38:40
And twelve weeks later, some some guy who lives in, you know, Noe Valley is telling me, sorry, because I'm an idiot, and I approve this plan. Yeah. I've gotta let you go. And and here's... I think all you can do is... There's no it's like there's no easy way to kill someone. We've taken cameras out of Yeah. War zones because we realize when we get a number back that we've killed half a million Iraqis, we like to think that they just floated away into Iraqi heaven. And we don't. It's it's... War is fucking gruesome. And the reason... One of the reasons, and it was a worthwhile reason, and I think we should have cameras in ICUs and on every battlefield, is that there's just no elegant way to kill someone. And quite frankly, there's no really elegant, humane way to fire someone. Yeah. I've had I You know one of reasons I'm not CEO of my ed tech company right now?
Kara Swisher · 39:25
Because you
Scott Galloway · 39:25
don't I'm done firing people.
Kara Swisher · 39:27
Yep. I've done only a few, and I didn't like any of them. Of the best one of the best explanations of firing, I would point everyone to one of my favorite movies, broadcast news, where they're they're firing people in the in the the in the station.
Scott Galloway · 39:42
Well, you could die. When he says, is there
Kara Swisher · 39:43
anything I could do for you? Well, you could die. And it was a great line.
Scott Galloway · 39:47
Great. Great. Albert Brooks? Come on.
Kara Swisher · 39:50
Yeah. What a great movie.
Scott Galloway · 39:51
Come on. Holly Hunter?
Kara Swisher · 39:52
It's such... I love Albert Brooks.
Scott Galloway · 39:53
William Heard, Tall Drinking Lemonade.
Kara Swisher · 39:55
It's my favorite movie. I actually own the movie. I physically still
Scott Galloway · 39:58
own it. Totally see you love it.
Kara Swisher · 39:59
Holly Hunter. Yeah. Yeah. In any case, there's a line where he goes, Jack Jack Nicholson is the is the anchor for the whole broadcast, and he comes in only for a minute. He only has a few short, scenes, and he goes, all this because they couldn't program Tuesday night. It's just like, you know, you
Scott Galloway · 40:17
fucked up. Best line of the movie? Best line of the... William Hurt says to Albert Brooks, he says, what happens when your reality exceeds your dreams? And you know what Albert Brooks says? Yourself. It
Kara Swisher · 40:28
That movie is full of great
Scott Galloway · 40:31
lines, James.
Kara Swisher · 40:31
James O'Brooks is fantastic.
Scott Galloway · 40:33
He loves The Newsroom. James O'Brooks loves
Kara Swisher · 40:35
The Newsroom. Loves it. It's such a good movie. It's a great film. I'll tell you, influenced me a great deal. Anyway, he he fucked up. But let's just say he fucked up, he... Here's an investor telling you that he fucked up. I also think he fucked up. Alright, Scott. One more quick break. We'll be back for predictions. Maybe you can give me one of your fancy predictions that you couldn't get out to the people.
[Ad break]
— Predictions segment begins —
Kara Swisher · 41:42
Okay, Scott. Give us this week's predictions. You must have... You have a, like, a a a boatload since you didn't get them out to the people in your in your AWS ruined situation that you were working on.
Scott Galloway · 41:53
So I have a bevy of them, but I'm going to
Kara Swisher · 41:55
You have a bevy?
Scott Galloway · 41:56
I'm going to be a coy little minx here.
Kara Swisher · 41:58
Okay. Give me one of your bevy. Just peel peel off a grape, please.
Scott Galloway · 42:02
Go ahead. What I'm gonna do what I'm gonna do, and this is almost as much fun, is I'm gonna review verbatim my predictions from December 20
Kara Swisher · 42:11
back part of the show? Okay.
Scott Galloway · 42:13
Well, I got some wrong too. Alright. Okay. So we'll go through them. I predicted when Bitcoin was at $22,000 that it would hit 50,000. And so I got that right.
Kara Swisher · 42:23
Right.
Scott Galloway · 42:24
I put that we might work. I was especially fond of the the the the language there, that they would get public. I think I got that right.
Kara Swisher · 42:32
Okay.
Scott Galloway · 42:33
I put... And this was when Airbnb was a private company. I put Airbnb was gonna hit $200 a share. They priced at 68, and I said it's gonna hit $200 a share. I got that right. Mhmm. I said CNN was gonna go behind a paywall. I got that right.
Kara Swisher · 42:47
Sort
Scott Galloway · 42:48
of. I said restoration hardware would hit a thousand dollars and Sonos would reach $40 because I thought there'd be such a massive dispersion of value and assets that would that would decentralize from offices to homes. I got that half right. So Sonos hit $40. Resto never hit a thousand, although it's up about 40% for the year. Okay. I I said, and you've heard this over and over, I predicted that Apple would acquire Peloton. I got that wrong. Yeah. Predicted Roblox gonna
Kara Swisher · 43:14
be like your Jack Dorsey thing.
Scott Galloway · 43:15
We'll see. Okay. Alright. We'll see. Broken clock. Right? Broken clock. I predicted Roblox stock would double from its offer price within six months. I was wrong. It's gone up about fivefold. And this one, you've... I think you've heard this before. Twitter hit $60, and Dorsey is ousted. Hello, champagne
[Ad break]
Kara Swisher · 43:32
Though there was some report that he wasn't ousted. Whatever. Hello. He's gone. Yep.
Scott Galloway · 43:37
And, oh, and I... My my... I always get political and angry. I... My prediction was Robin Hood is the new is the new menace, and you can decide if that's right or wrong. Anyways, last year was one of my better years for predictions.
Kara Swisher · 43:47
We'll see. We'll see. Very good. Okay. Give me one... Give me... Peel off a little grape here. By the way, Airbnb stock is now at $182.26, but it did hit $20.06 in November.
Scott Galloway · 43:57
And I made the prediction. Was it 68? Give a little love to the dog. Rub his belly. Rub his belly.
Kara Swisher · 44:02
Rub your belly.
Scott Galloway · 44:03
Rub his belly.
Kara Swisher · 44:03
Yeah. Was By
Scott Galloway · 44:04
the way, we just just spay Leia, and she has this big incision along
Kara Swisher · 44:08
Alright.
Scott Galloway · 44:09
Her torso. So we have to wrap her in... She loves to go to the beach, obviously, does every dog. And she literally sits... She cries when we don't get her out. And so we wrapped her in dish towels and diapers to create, like, a makeshift Spanx bodysuit. It's a great conversation starter. That's a great conversation starter.
Kara Swisher · 44:27
Prediction? Get us a prediction.
Scott Galloway · 44:28
Great Dane and Snakes. No, my prediction is the following, and it could get us canceled off of Pivot.
Kara Swisher · 44:32
Oh, no.
Scott Galloway · 44:32
Okay. This is... And this is just human nature. I don't know anything. I don't think it's any accident that Bret Taylor was made co CEO of Salesforce and chairman of Twitter at the same time.
Kara Swisher · 44:43
Okay.
Scott Galloway · 44:44
I'm pretty sure... First off, this notion that that, oh, it was Jack's idea. Elliott came in, I'm pretty sure, and said, okay, this is fucking ridiculous. You're out of here. We'll make it dignified, but you're leaving.
Kara Swisher · 44:54
Alright.
Scott Galloway · 44:55
And I'm pretty sure... Think this guy Brett is a really talented manager. He is. I'm pretty sure Twitter... This is a pure conjecture. I have absolutely no idea what happened here, but I... That's my conjecture because I think I understand humans and the way they see this play out. I would bet the Twitter board said, Brett, would you consider being CEO? And then Brett pointed out back to Mark and said, hey, Mark, by the way, Twitter wants me to be CEO. And he's like, hello, Mr. Co CEO of Salesforce, and you can be chairman. But the prediction is simple. The prediction is simple. Salesforce is going to acquire Twitter. We know Marc Benioff wants it. We Has know that
Kara Swisher · 45:27
wanted it in the past.
Scott Galloway · 45:28
Has wanted it. And here's the thing. This is why things are different this time, Kara. When they wanted it in 2016, and supposedly his board threw up on it, Salesforce had about a 70,000,000,000 or $80,000,000,000 market cap, and Twitter was at 25, meaning there would be like a 25 or 30% dilution, kind of a bent the ranch. Now Salesforce, because of outstanding execution, has a $275,000,000,000 market cap, and Twitter has a $38,000,000,000 market cap, meaning this is no longer a Bet the Ranch acquisition. Alright. Meaning that Twitter, by virtue of a percentage of dilution, is now 50% to 70% less expensive in
Kara Swisher · 46:05
terms thought you were of the predicting that Jack Dorsey was gonna buy it Square because he's at a similar
Scott Galloway · 46:09
That might happen. It'll be it'll be... My prediction is Salesforce or a fintech company is gonna acquire Alright. Twitter by the end of two thousand and twenty two.
Kara Swisher · 46:16
But I now meet said this at dinner with Mark, didn't you, and and caused the room
Scott Galloway · 46:19
to suck And everyone just went quiet. Lovely dinner. Yo yo Ma then played. I thought it was, like, prom in 1998.
Kara Swisher · 46:26
Okay. Alright. So glad that you're doing this. I I should have gone to that dinner. We'll see where it goes. I think it's it's interesting to lay it out. You... Is not... This is Scott's predictions, people. So don't give... Don't, like, bend my ear of whether he's right or wrong. This is his analysis. It's called analysis.
Scott Galloway · 46:42
Lucky pom... Palmer lucky. Go get lucky on your palmer somewhere else.
Kara Swisher · 46:45
He did not insult you. Let me be fair. He did not insult you. He insulted you.
Scott Galloway · 46:48
I like him.
Kara Swisher · 46:49
Should be Okay. Nicer to him I'm going to try. I'm going to try.
Scott Galloway · 46:52
Nicer to him then.
Kara Swisher · 46:53
I don't even know him. I do. Let's... I'm just gonna... We're just gonna remove each other from our consideration. Anyway You're
Scott Galloway · 46:59
so not used to getting attacked.
Kara Swisher · 47:01
You are so... You have gone bullshit. It's just... No. No.
Scott Galloway · 47:03
You've gone from...
Kara Swisher · 47:04
I'm used to it. A group
Scott Galloway · 47:05
that took too much shit, you are now a protected class, just
Kara Swisher · 47:07
so you know. I am used
Scott Galloway · 47:08
to being it's open season on the 50 something white class.
Kara Swisher · 47:11
Have my mother. I'm used to being attacked. I'm very good at being attacked.
Scott Galloway · 47:14
Lucky.
Kara Swisher · 47:18
Lucky. I I was made... I am made for being attacked. Anyway, yes. She's coming down for Christmas. That should be... That's an... That'll be an interesting time.
Scott Galloway · 47:26
Coming down for the holidays?
Kara Swisher · 47:27
Oh, yeah.
Scott Galloway · 47:28
It's beginning to look a lot like Lucky.
Kara Swisher · 47:31
Yeah. It is indeed. Anyway, we we will see your prediction. I think it's really interesting. I think I like these creative analysis of these things, and I look forward to when your prediction show is, and then we will do it. And I thank you for going over your predictions. Those were very interesting. Anyway, let us... Read us out, and we will be back on Tuesday for for Tuesday for more. Yes. Absolutely.
— Predictions segment ends —
Scott Galloway · 47:52
Oh, that's right. We're coming back. Right? What what is our holiday schedule? Do we need to give the viewers a look?
Kara Swisher · 47:57
Look. We are we are next Tuesday. I think there's some episodes coming up of of year end things that we've already taped, and then we'll be back live again on the sixth of... We'll tape on the January 6 for the seventh. So so we'll have a little time off, but we have taped some very lively and saucy shows for you for year end.
Scott Galloway · 48:16
Saucy. Saucy. You know what I'm doing on Wednesday?
Kara Swisher · 48:18
You know what
Scott Galloway · 48:19
I'm doing on Wednesday? What? I'm taking my boys to the Chelsea Everton match in Uh-huh. London to see Belgian striker Romelu Lukaku. Oh my god.
Kara Swisher · 48:28
Where are you going? Life is good. You're going to London?
Scott Galloway · 48:30
I'm going to London. Yeah.
Kara Swisher · 48:31
When? I don't Over the weekend?
Scott Galloway · 48:32
And then I'm going to Thailand. Oh, they didn't tell you? Oh, wait. Should I give our producers a heads up?
Kara Swisher · 48:37
Okay.
Scott Galloway · 48:38
Bring in Katie Couric.
Kara Swisher · 48:39
So you're not flying in for my birthday.
Scott Galloway · 48:41
Yeah. It's your birthday? Well, then I'm not going.
Kara Swisher · 48:43
Yeah. You're not bringing in the jet, scrambling the jets for Kara Swisher. That's right. I'm going to see West Side Story by myself. That is my gift to myself, by the way. It got great reviews.
Scott Galloway · 48:52
West Side
Kara Swisher · 48:53
Story by yourself. Steven Spielberg did it. It's been written. Kushner, who did Angels of America. Mhmm. And I am so looking forward to it. I'm going by myself. My son is gonna cook me dinner. Amanda's gonna make dessert, my favorite dinner, which is he makes fresh clam sauce and fresh pasta. And then I'm going to the movies by myself to see my favorite musical of all time, and it got stellar reviews. Stellar reviews.
Scott Galloway · 49:19
That's gonna be great.
Kara Swisher · 49:19
You're going to London. I'm going to West Side Story. In any case, I will be doing the dinners from now on, Mark Benioff. I apologize. I'm so sorry, but that's that's... It is what it is, as they say. It is what it is.
Scott Galloway · 49:33
Who produced today's show, you may ask? Lara Naaman, Evan Engel, and Taylor Griffin. Thanks also to Drew Burrows and Mio Silverio. Ernie Entertod engineered this s... Episode. Make sure you subscribe to the show on Apple Podcasts. Or if you're an Android user, check us out on Spotify or, frankly, wherever you listen to podcasts. Thanks for listening to Pivot from Vox Media. We'll be back next Tuesday for another breakdown of all things tech and business. Roma Lou Lukaku.
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Kara Swisher · 50:53
only.
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