Guest · 1:05:43
If Zoom wouldn't have just sold to one of the big guys if it started today?
Kara Swisher · 1:05:47
That's a really good question. That's an excellent... So we're gonna... Walt, you're gonna stay with us. It's time for listener mail. First, we have a video question from Roman Rubenstein.
Speaker · 1:05:56
Scott, you separated the value of colleges into three broad categories of credentials, experience, and education. The first two, credentials and experience, can be measured in real time or immediately upon graduation. But measuring the value of education takes decades. You've used thirty year NPV to measure the monetary benefits. This could also be extended to societal benefits and personal self actualization. All of this makes it really hard to measure impact of new innovations in education ex ante. Instead, professors, students, and parents fall back on centuries of proven data and approaches. So the question is, how can innovators in the space break out of this conundrum?
Kara Swisher · 1:06:40
Okay. Quick answer from both of you. Scott?
Scott Galloway · 1:06:43
Walt, you go first.
Kara Swisher · 1:06:45
Give him the hard one.
Guest · 1:06:46
I think it's... Thanks, God. You're learning. I honestly think you don't know the value of your education until you're maybe 30. I don't know what the metrics are that would allow you to justify that. Do you justify it by income? I don't think so. I mean, it's part of it, but it's not most of it. Do you justify it by what job title you have? I mean, I I just think you have to look at what kind of person has been turned out and how the part of that person that is represented by education factors into their life and work.
Kara Swisher · 1:07:24
All right. Scott?
Scott Galloway · 1:07:26
Yeah. One of my favorite books, The Little Prince says, the essential is invisible to the eye. The curiosity, the empathy, falling in love for the first time, getting your heart broken, having your heart grow back stronger, realizing you'll you'll be okay with the resilience, testing your limits, you know, all of these things. What is essential is invisible to the eye. There's an impossible to measure joyous exploration in a safe place that is college. And, and I don't wanna pretend that we're gonna replace that virtually. The question is, can we can we expand access to that incredibly joyous experience even if it's less leafy or less Rolexified to more and more kids. How do we give more... You know, I just wanna go back to the future. I wanna go back to the shitty buildings at UCLA where I could afford to go for $400. But he's right. That stuff is really difficult to measure, and I don't want to underestimate how important it is.
Kara Swisher · 1:08:26
All right. Next video question was sent in by, I hope I'm pronouncing this right, Louis Swisher in New York.
Speaker · 1:08:32
Uh-oh. Hello, Professor Galloway. I'm here in my dorm at NYU. Just completed my quarantine. I'm very excited to be over with it. I have been wondering. It's been hard for me to focus on my schoolwork mostly because my mind's just in an absent space during this quarantine. But going forward with online education and distance learning and all these measures that are just so new to us, what advice can you give someone like me who just has a bit of, like, an attention problem and, like, who has trouble being engaged in stuff like this. I just... I I really wanna get the most out of my education. Sometimes I find
Scott Galloway · 1:09:05
it hard too. So I'm
Speaker · 1:09:06
just wondering any advice you have going forward. Thank you. Hope all is well.
Kara Swisher · 1:09:09
Fantastic hair from Swisher. Go ahead. Go ahead, Scott.
Scott Galloway · 1:09:14
Think of... I literally knew. All I could think about... I could barely listen to what he was saying. All I could think about is like, Jesus Christ. Look at that hair. Look at that hair. He's a cross between he's a cross between Cher and AC Grain from Oregon who went on to be an amazing basketball player. God. If I had that hair, I'd literally have it out to here. I would look like He'll
Kara Swisher · 1:09:34
lend you his shirt. He's getting hit cut this
Scott Galloway · 1:09:36
week. You
Kara Swisher · 1:09:37
go ahead.
Guest · 1:09:37
You go.
Scott Galloway · 1:09:38
Don't know. How does he focus? Well, boss, it it sucks to be a grown up. You're at NYU. You're gonna have to learn how hard it is to focus. Other than that, get some ADHD drugs and call me back. You're like, learning how to focus and do shit you don't wanna do, that's called being an adult. Suck it up.
Kara Swisher · 1:09:52
Just online. Online. Online. It's a very different experience. A lot of kids are, you know, having trouble.
Scott Galloway · 1:09:58
Been in my class. It's not easy to focus in my class today. I'm sorry. Go ahead, Will.
Guest · 1:10:02
Let let me let me just say, first first of all, on the on the crappy buildings, my first building, my first dorm was just a cinder block. It was like a prison cell, but I loved it because I wasn't living with my parents. Right. Secondly, Louie, who I will tell you I first saw the day she brought him home from the hospital, Louie looks like all the other students when I went to college in the sixties. Yeah. That's when I went to college. Tie dye's Tie a thing because it's Tie dye and long
Scott Galloway · 1:10:37
I'm sorry. Let me... Kara, I just gotta say, with that hair, that guy is not distancing. That guy is that guy is not... That is groovy hair. That guy is
Guest · 1:10:44
not distancing.
Scott Galloway · 1:10:46
Oh, no way.
Kara Swisher · 1:10:46
Stop. No way. I know you're jealous of the hair.
Scott Galloway · 1:10:50
Give him give
Kara Swisher · 1:10:51
students. He's a great
Scott Galloway · 1:10:53
kid. Play.
Guest · 1:10:54
He's a good guy. He's a great guy.
Scott Galloway · 1:10:56
Yeah. He seems like a good kid.
Kara Swisher · 1:10:57
What do you do if we're moving to a virtual education? The the the
Scott Galloway · 1:11:01
We're not moving there. It'll be hybrid.
Kara Swisher · 1:11:03
Alright. Okay. So it doesn't matter? Because Austin Austin Neutner was saying, you can't learn to read in a virtual environment. I'm trying to
Scott Galloway · 1:11:09
get you
Guest · 1:11:09
to the both k to 12. That's a much more serious problem.
Scott Galloway · 1:11:13
Yeah. He's gonna
Guest · 1:11:14
College students should be able to handle it unless it goes on forever.
Scott Galloway · 1:11:17
Mark my words. Within six months, I will bump into a place that neither of us should be at. I will bump into Louie at some ridiculous underground bar where neither of us should be within six months. He'll be fine.
Kara Swisher · 1:11:31
Alright. You two are useless having these... Okay. So don't go to class. It doesn't matter. Suck it up, Louie. That is sucking up all you college students.
Scott Galloway · 1:11:38
A question. Well, just a comment. What Walt said hit it right on the head. When I went to UCLA, the buildings were falling apart. When I went to Berkeley, the HUS School of Business was a terrible building. And you know what? These beautiful buildings, they aren't there for the students. They're there for alumni and for donors and for recruiters. Because I I had good hair like Louie, and daddy was getting
Guest · 1:12:15
it done on on top ramen. Yeah.
Kara Swisher · 1:12:18
Right. Walt had mutton chops. Just That's one of chops. Anyway... Okay. I I I
Guest · 1:12:23
had I had hair, and I had long hair.
Kara Swisher · 1:12:25
Yeah. Okay. This meeting of my ex exit... My ex and my current whatever is is ending now. Okay, Walt? This is not... This was a mistake, obviously.
Scott Galloway · 1:12:35
Three and four.
Kara Swisher · 1:12:36
Alright. I appreciate it. Walt, thank you so much for all the work you're doing.
Scott Galloway · 1:12:40
Thanks, Walt.
Kara Swisher · 1:12:41
We appreciate it.
Guest · 1:12:42
You're welcome, Kara.
Kara Swisher · 1:12:43
Alright. You're welcome. Great day. We'll Scott. I'll talk... We'll talk soon. We'll talk soon. We'll have a lovely socially distanced dinner very soon.
Scott Galloway · 1:12:50
We will.
Kara Swisher · 1:12:50
Okay. Okay. Bye, sir. Oh my god, Scott. That was really a mistake on my part. Okay. One more thing to do before we wrap up today's show, and that's for Scott.
Scott Galloway · 1:13:00
That's why you're here with me. I am to you what you were to him. I... My sense is that you draft off of his brand, and I'm drafting off of yours.
— Predictions segment begins —
Kara Swisher · 1:13:08
That's right. And you're moving along. Okay. So, anyway, special guest to make some predictions. Okay. Predictions is our final episode, and it's our final, thing here. I know we've kept people here a long time, but too bad. It's good stuff. Okay. Before we get to your predictions, professor Galli, we have another special guest who sent in a video with their prediction. Let's play it.
Guest · 1:13:33
There's been a lot of discussion about the implications of remote education for the underserved communities in dense urban areas that can't afford laptops and Zoom and be able to Internet connections, to be able to do this thing from home. Think the bigger intermediate and long term implication for K-twelve education in The United States is that as the workforce in this country realizes that it can be productive from anywhere and there's a move out of dense urban locations to more remote locations in the country such as where I am right now, the tax base in states like California and New York whose education systems rely so heavily on public funding are really going to come under even more pressure than they've been under. They're already under intense pressure, because of the, funding pensions and and so forth. But that's gonna be a real problem, think, in the intermediate term that we're gonna have to solve at the national level.
Kara Swisher · 1:14:32
Man, that was a serious one. I'm expecting a joke from Dick Costello. He's the former CEO of Twitter and my second favorite bald white man in tech. Scott, that's an interesting prediction that he made there. That's a very serious one and of course we've talked about it
Scott Galloway · 1:14:45
with crossroads here. People are constantly asking what happens to New York. And you can see that if wealthy people continue to leave, become tax pats in Florida or Texas, and as a result, social services get cut. There's already been a noticeable uptick in homelessness. Crime hasn't risen, but homicides have increased dramatically in New York. You could see it basically a downward spiral where we go back to New York in the seventies. At the same time, at the same time, if New York becomes more affordable, some of those Midtown offices are converted to condos, and kids can start moving to New York again without their parents putting them through New York, and New York gets younger, and it becomes a place where you you only have to make a good living versus an outrageous living, you could see it being another golden age, and typically cities do really well post pandemic. So it's a really... We're at a really interesting crossroads I think New York, and I'm just talking about New York, becomes, you know, it's such a singular city and I'm biased. But the bottom line is that migration of The US can be described very simply, and Dick spoke to this, it was a very thoughtful question. Basically, low taxes and sunshine are getting people and high taxes and cold are losing people. And it feels like we're gonna need some sort of federal legislation because some of these states are just gonna get... They're on a downward spiral. When one man, David Tepper, leaves, moves from Short Hills, New Jersey to Miami, and the treasurer of New Jersey has to call an emergency meeting because they have a $110,000,000 hole in their budget, which means closing schools and food banks. Mhmm. It's a real issue. The bottom line is I don't I don't have a I don't have an answer. It's a thoughtful question. It'll be very interesting to see what happens in the last twelve months.
Kara Swisher · 1:16:22
Alright. So your prediction, we're gonna end on your prediction, Scott Galloway.
Scott Galloway · 1:16:27
Okay. So I was thinking, I'm just fascinated. By the way, TikTok was supposed to announce who they were gonna be acquired by yesterday. Did you see how that came and went, Kara? It didn't happen?
Kara Swisher · 1:16:36
Yeah, I did. You are correct. We discussed
Scott Galloway · 1:16:38
that. You think about what's happening, essentially Facebook, Google and Amazon are sequestering the entire consumer world into one of three buckets. And that is every retailer, every services company is going to be denied oxygen from these three companies that are developing such strong vertical integration that they capture the consumer. And if you want to download your, if you want them to download your app, or you want them to buy your product, or you want them to see your ad, you have to go through these arbiters of all commerce media. And the company that probably realizes this and has the currency to go do something about it is number two is Twitter, but number one, and it's the least talked about company that'll probably make the most dramatic acquisition or play because I think these guys not only have the currency, but they have the vision is Shopify. And I think it's a $120,000,000 markup. I think Shopify is either gonna get into the content business. I'll stop there. I think they're going get into the media business because they see over time Amazon will be continue to sequester consumers and unless they can offer their customers, which are mom and pop retailers who don't want to enter the ecosystem, the strangulation relationship, the partnership where they're the virus and you're the host relationship that any retailer enters into with Amazon. They're going to have to figure out a way, a funnel to move consumers to their small and medium sized retailers. So I think Shopify has the currency and the will and the vision to go make a big acquisition in media or something around customer acquisition. So anyway, Shopify, a dramatic acquisition no one is expecting by the end of the year.
Kara Swisher · 1:18:16
Alright. Okay. Alright. Do you have any choice for the TikTok purchase, or you think it's gonna be the slow roll of China as you discussed?
Scott Galloway · 1:18:22
I I love what you said, and I hadn't thought about it. They announced something, and it never closes. Yeah. Never closes.
Kara Swisher · 1:18:27
Endless non deal. Okay. That's what's gonna happen. Anyway, Scott, as usual, this is all the time we have for today's pivot school.
— Predictions segment ends —
Scott Galloway · 1:18:34
This was my favorite.
Kara Swisher · 1:18:35
We're gonna... This was my favorite. Absolutely. Me too. They're all good. They're all... All our children are lovely. Listen. We're gonna come back and do more pivot schools live as soon as we get this vaccine. Think we're gonna do a work.
Scott Galloway · 1:18:46
My god.
Kara Swisher · 1:18:47
Louis' He's gonna give you some... I'm gonna have him put some in a bag and send it to... Deliver it to your lovely home, and you can put... You can paste it on. It's beautiful hair. At the same time. It's gorgeous.
Scott Galloway · 1:18:57
It's Definitely start a color.
Kara Swisher · 1:18:58
That hair lives. Anyway Oh my god. That's it for... You can't have my son's hair. That's that's where we are in our relationship. Anyway, this... Listen listen, Rapunzel. That's the end of this. I wanna thank our amazing editorial and events team for putting the series together, Shannon Thompson, Erica Anderson, Michelle Berg, Eric Johnson, Devin Brisky, Adam Tau, Drew Burrows, Mia Silvario, Rebecca Castro, and so many more. We couldn't do this great work without you. Scott, any final words of wisdom before we turn off the lights?
Scott Galloway · 1:19:33
Greatness is in the agency of others. I didn't think this was gonna work, and there are so many people behind the scenes making us look better than we deserve. This was an online conference. There's a ton of innovation from crisis to opportunity conferences, online learning, the opportunity to lower costs and education. All we need is a lot more empathy, lot more concern for the bottom 50% of our population that find themselves in But wealthy country I think the people behind the scenes here, I did not think this was going to work. It's worked. We did something different. Donated a decent amount of cash. It wasn't $300,000,000, but at least what we're doing is not a fucking lie. We're actually trying to help people. So look. Thanks to everyone behind the scenes. Thank you, Kara, for having the vision to do this. I didn't wanna do this. So... And thanks everyone for showing up and listening. Thanks so much to everyone who joined us live for Pivot Schooled. Remember that if you paid for a ticket to the live show, you can watch the video replays of all five episodes at pivotschooled.com. You can also buy Pivot Schooled swag at pivotschooled.com/shop.
