Scott Galloway · 24:44
Advertising. I mean, how do you know you're how do you know you're wealthy? You don't have to subject yourself to this shitty thing called advertising. Advertising has become a tax. The poor and the technologically illiterate have to pay, but you still have to go into stores. Mhmm. Not as often, but still 80% of the time. Maybe 85% of the time.
Kara Swisher · 25:00
I still like it. I was there yesterday.
Scott Galloway · 25:01
Oh, they're wonderful. They're wonderful. The question is have they changed
Kara Swisher · 25:04
No. They need to be a little more exciting. I think they're... They need to be clean. They need a little refresh, as they say.
Scott Galloway · 25:09
And people are catching up. Some there's some really interesting innovations
Kara Swisher · 25:13
refresh. So we'll see.
Scott Galloway · 25:15
What is the one thing you would do in an Apple store?
Kara Swisher · 25:17
What would you do? Shop.
Scott Galloway · 25:19
Yeah. High margin.
Kara Swisher · 25:20
Coffee shop. Their coffee. The best coffee. The most delicious.
Scott Galloway · 25:25
And then who's ever... Whoever is overseeing the coffee should run as a centrist candidate for president. Alright.
Kara Swisher · 25:30
Who's that? Scott, we're gonna go... We can back.
Scott Galloway · 25:32
We're gonna take an
Kara Swisher · 25:33
ad break now. When we get back, we're gonna do wins and fails and predictions.
[Ad break]
— Predictions segment begins —
Kara Swisher · 27:35
Okay. We're here with Scott Galloway. He keeps saying boom and called me Carmela. I don't know why.
Scott Galloway · 27:40
Carla. Carla.
Kara Swisher · 27:41
You know what? Stop. We're gonna stay on this idea of That's awesome. Rich people. Let's let's let's trash the rich. Let's trash the rich right now. So Howard Schultz, who I do like very much, is still going around talking about, rich people in a bad way. May... He's giving billionaires a bad name, I think. And he wants to to, to change the way we talk about billionaires. So let's listen to what he has to say.
[Ad break]
Speaker · 28:14
I I... You know, the the moniker billionaire now has become the the catchphrase. I would rephrase that, and I would say that people of of means have been able to leverage their wealth and their interest.
Kara Swisher · 28:31
Alright. So he doesn't like moniker billionaire, and he wants to be called people of means, which is like... Oh, Jesus. Mean, he's... Criminace, Howard. He's so thoughtful. He really is. He read some of those thoughtful emails. He's he's a very thoughtful man. But, man, is he not going... He just, oh god. Lordy Lou. What what do you think about people of means?
Scott Galloway · 28:54
Yeah. Look. Everybody's piling on. He's he's he's about to figure out he's about to figure out that it's pretty hot in the kitchen. Right? Okay. People... Oh, let me put it this way. People of means tend to surround themselves with people of brown noses because you have people around you who kiss your ass and tell you how awesome you are, laugh at your bad jokes. And when you say something like, don't refer to people as billionaires but people of means, he's used to people around him going, that's genius Howard. You're absolutely right. We need to change that. And the wonderful thing about our process is people get put through the ringer in the kitchen and the ones that emerge, emerge stronger. I mean this is the mother of all vetting processes, right? And my prediction, and I'll use this as my prediction, think he's gonna decide not to run. If he were to really wanna make a difference, he would probably decide what issues are important to him and then go out and be... Use some of his capital and his star power to support candidates who are willing to put up with the bullshit that I think he's gonna decide he is not willing to put up with.
Kara Swisher · 29:59
Alright. Okay. Because he because he wants to get back in his thing. Alright. Okay. And and your fail or win of the week?
Scott Galloway · 30:05
My fail or win? Oh, my fail is I'm angry at Jack Dorsey again. I'm
Kara Swisher · 30:10
Me too. Did you see my pipe with him on Twitter? Right?
[Ad break]
Kara Swisher · 30:12
see his response to me? His obnoxious response about me asking him to do an interview.
Scott Galloway · 30:17
He actually responds to you?
Kara Swisher · 30:18
Oh, yeah. It was a whole big thing. He goes... I... He wrote, I love... I... Podcasts are fun or something like that. And I wrote, I have a podcast because I've been asking him to do an interview. And he wrote back. He's like, you know, I've talked to you many times. I'm trying to branch out. And I was like, you're... Yeah. You gotta be Branch out. And most people were like, you're just too scared to get on... Get... To get an interview.
Scott Galloway · 30:35
100%.
Kara Swisher · 30:36
You know what I mean? And so... And then he responded with something else. And then I then I went... Every day, I'm gonna just pillory him. But go ahead.
Scott Galloway · 30:43
Hey, Jack. Reach down, feel those round things, and come on the show. Yeah. Anyways Don't So look. I don't wanna deal I'm on Twitter, and I tweeted out. I've been thinking a lot about there's so much noise around how San Francisco and New York need to be made more affordable. And a lot of navel gazing and thought pieces. My feeling is that that's a ridiculous conversation. I've never understood how you make a city more affordable. And I also think that's actually in many ways a function. It has negative externalities. You've got to address low income housing. But I think the objective should be to make Detroit and St. Louis more expensive or figure out a way to invest in those categories so more businesses and more people or those cities want to move there thereby, if you will, driving up prices. And I basically put out a tweet saying the problem isn't SF and New York affordability. The problem is St. Louis and Detroit should be more expensive. And a bunch of tweets, of good arguments back saying, Scott, that's the wrong problem. A lot of thoughtful things. Some of the things I love about Twitter. And then a comment from somebody that said, so translation, I've got mine, fuck the rest of you. And I thought, wow, that's a really incendiary thing to say. That's not what I meant at all. And I looked at the person, I looked at the account and I went on to their Twitter page. And they had been sending out AOC 70% tax rate. All these very, very kind of far left statements. And then all these far right statements. And I'm like, okay, this is an arsonist. This is an account run by somebody else, whether it's a troll farm in Albania or whether it's somebody trying to get somebody elected or suppress the vote, who's identified me as one of the, I don't know, 7,000,000 most influential people on Twitter, who's probably... Maybe, and is purposely trying to pick fights and divide us. And if I can figure this out in about thirty seconds, then the notion that Jack Dorsey is trying to figure it out is just a lie. And when he stands in front of Congress and raises his right hand and says we have a responsibility to promote a positive dialogue, he is lying to Congress. So my fail or my my my loser is Jack Dorsey, who despite the silence retreats, despite the namaste bullshit, despite the beard, despite the nose ring, is making America a worst place.
Kara Swisher · 33:01
Alright then. Okay.
Scott Galloway · 33:03
Boom. Boom. Where are my antidepressants?
Kara Swisher · 33:06
I wanna know if you think it's a loser win, Gimlet, maybe. I'm moving on to another thing. I I really appreciate your endorsement.
Speaker · 33:13
But come on the show, Jack. Yeah. But come on the show.
Kara Swisher · 33:16
I'm trying to get him to come on the show. You know what? Work with Elon. I just kept texting at him. I'm doing it to Alexandria Ocasio. I'm being nice to her because I like her. But Jack, I'm being somewhat aggressive with.
Scott Galloway · 33:26
Yeah. He's not coming on the show.
Kara Swisher · 33:29
Whatever. Whatever. He's coming. He's he's gonna do it. Or maybe. I'm sorry. When he does, you're gonna give me, like, $10. So Gimlet Media, the Spotify thing. What do think? Peter Kafka broke the story, talked to Alex Blumberbug about the deal. You can hear the rest of the interview on Peter's podcast, but here's a little short short little tape.
Speaker · 33:47
Like, our basic idea, the thing that motivates us is that we're at the second golden age of... Or at the dawn of the second golden age of audio. And there's just this explosion, this flourishing of new kinds of storytelling, new kinds of programming that's made possible by on demand audio. And that's growing quite fast, just globally. And it's growing really fast on Spotify. But the actual size of the industry is still very small. It's... You know, podcasts are probably $500,000,000 industry this year. And there's basically a disconnect between the number of people who are listening and the amount of shows they're listening to and the amount of money coming into podcasting.
Kara Swisher · 34:25
What do you think about this,
Scott Galloway · 34:27
Scott? Well, Kara, you're the the king and queen of podcasts. What do you think?
Kara Swisher · 34:31
I think I need 400,000,000 million dollars. I'm thinking I should have gone and done only podcasting.
Scott Galloway · 34:37
To be a person
Kara Swisher · 34:37
of means? To be a person of means, and I should have done... I had the sense of podcasts early, and I should have built a a company like Alex's. I think I was capable of it. I feel stupid. No. No. I'm kidding. No. I'm not kidding. I think it's I think it's interesting. I think it's... Podcasts are really good businesses right now, and the really good ones are gonna rise to the top. So I'm pretty excited about it. I think there'll probably be a shakeout.
Scott Galloway · 34:57
Yeah. So the total market for podcasts is $350,000,000 or about one quarter of the... One quarter's worth of bads in the Super Bowl is the entire market for all podcasts. That's the bad news. The good news is it's growing fast. What's interesting about podcasts is the audience over indexes on young and wealthy, which advertisers love. And the really interesting thing about podcasts, and I'm new to this whole medium, is that I find the advertising less offensive and interruptive than in other formats, which might be what what what makes podcasting the only growth medium that is ad supported.
Kara Swisher · 35:35
Yeah. Are. They're kind of fun too. We've done some fun ads and stuff. You know what's interesting? I'll tell you. My take on it is I have never had such fervent fans. Like, literally, last night, I was speaking at Johns Hopkins Center for Advanced whatever whatever, something... Some fancy think tank thing. And two people hugged me. Hugged me. Like, I love you. Like, it was like, okay. Like, I'm... No. I do not get that when I was a writer and... Or do my conference. Same thing. It happens every day. Someone comes up to me and wants to talk to me and is excited to meet me, and it's really... And they say that... How is Galloway? Like, they they see you as a a a character that they like. And then I was at the... Down at Anthem in... Down at The Wharf in Washington DC, John Lovett had a sold out show of 3,200 people for Love It or Leave It. It was just really interesting. You know, dollars 30 a pop, that's a really good business. Anyway.
Scott Galloway · 36:27
Yeah. You know how, to be honest, Cara, know how it feels when someone comes up and interrupts me in the middle of the day and says, oh, I really like what you do. You know how it really feels?
Kara Swisher · 36:35
What?
Scott Galloway · 36:36
It feels wonderful. Feels wonderful. Wonderful. Love it. We makes me feel enjoy it. People act as... They're embarrassed because they're literally thinking to interrupt me. I'm like, I'm sorry. Do that again. What did you say? You like me? You really like me?
Kara Swisher · 36:51
Right.
Scott Galloway · 36:52
Yeah. I really like it. It's nice. Absolutely. It's really nice.
Kara Swisher · 36:54
So Scott, very quickly prediction. We gotta go.
Scott Galloway · 37:00
So Snap had, I think their stock bumped 20% because they're not losing users. It was the first time that they reported flat So I'm user
Kara Swisher · 37:10
you're for them.
Scott Galloway · 37:11
You're pulling for them? Yes. My prediction is that when people are near death, oftentimes there's this effect where they will literally have a burst of energy and get up and go garden or cook a meal and then they go back to the room and die. This was literally, snap, getting a burst of energy going into the kitchen and cooking. The deceleration Okay. The decline, the death the death rattle of snap is about to resume.
Kara Swisher · 37:40
You're wrong. I think they've got some really interesting people, including several really prominent women who were just hired. I think I think they can do something. I think he's a very creative guy, he's gotta gotta he's gotta he's gotta professionalize that company. But, you know, I like I like what they're doing, and we'll see if they can do it. I agree with you. It's hard. It's gonna be hard. It's gonna be super hard. But I do like... It's so... I was at their headquarters in New York, and literally, even the room was creative. This room they had that you're not supposed to talk about, but it has all the Snapchats on the walls and stuff like that. It was a wonderful place to be. And I just... They have a they have a creativity that is very enjoyable whenever you're around them. Thank you very much. I think you're wrong. I think they can pull it
— Predictions segment ends —
Speaker · 38:18
out.
Scott Galloway · 38:19
Prominent... They're gonna need more than prominent women in an in an escape room.
Kara Swisher · 38:22
They just hired some executives I really like. I'm gonna go on.
Scott Galloway · 38:25
He is so he is so number two your man crush. First is Elon. The second is Evan.
Kara Swisher · 38:30
Man crush
Scott Galloway · 38:30
on him. And the third is John Lovett.
Kara Swisher · 38:32
Do you know do you know... I love John Lovett,
Scott Galloway · 38:34
Lovett? Lovett.
Kara Swisher · 38:34
No. Lovett. Lovett or leave it. Lovett. You know who I have a man crush on? Paul Pelosi. That's what have a man crush on. Thank you very much.
Scott Galloway · 38:40
Paul Pelosi?
Kara Swisher · 38:41
Yeah. Nancy
Scott Galloway · 38:42
I know nothing about Paul Pelosi. No. Look. No. No. No. No.
Kara Swisher · 38:55
Scott, No. Thank you so much. I'm looking forward to seeing you next week. Where will you be coming from? I'll be in New York maybe, I think. New York.
Scott Galloway · 39:02
You know, it's a bad sign, but I have absolutely no idea where I'm gonna be next week.
Kara Swisher · 39:06
Alright. Then I won't see you in New York when I'm there. But I'm looking forward to talking. There's gonna be lots to talk about, coming up. Rebecca Sinanis produces the show. Nishat Kerwa is executive producer. Thanks also to Eric Johnson. Thanks for listening to Pivot from Vox Media. We'll be back next week for more of a breakdown of all things tech and business. If you like what you heard, please subscribe on Apple Podcasts or wherever you're listening.
