Kara Swisher · 34:03
It's a really
Scott Galloway · 34:05
Bitcoin, usually.
Kara Swisher · 34:06
Yeah. It's it's really... It's through Bitcoin. Exactly. And it's been talked about a little bit, but it's... I think it's more prevalent than people realize. And what to do about it? Obviously, there's gonna be companies that pop up, but it's... To to to help you defend against it. But usually, it's after something's been stolen. Mhmm. Scott?
Scott Galloway · 34:25
Well, it's like a hostage taking, and that is you know that the solution would be to make it illegal to pay ransom, and then it happens to your kid, and you're like, fuck that. Pay them and get your kid back. And in this instance, and I know several small businesses where this has happened, you come in one morning, your computers are locked, you can't access your data, and they're not even talking about distributing this data. They're talking about you're not be able to access it yourself unless you pay a $250,000, and then they settle somewhere at $85,000 It's a niche industry where people who negotiate this, And you're like, Okay, it sucks to be a grown up. I'm going to pay the $85,000 in Bitcoin, and boom, I'm back in business. And this is one of the flaws or one of the disappointing things about the state of America. And that is when we had global crime syndicates around drugs or the sale of armaments from a collapsed Soviet Union, we created Interpol, and that is we had an international police to address crime that was in The Nether Netherland and extended across border and had real negative impacts on the world. And we've cooperated, and it's been I don't know if it's been effective, but, well, I think it's been effective. And if we hadn't had such a shit show called the Trump administration, we could have formed, in my opinion, some sort of global force totally focused on cybercrime. Quite frankly, I think the way you go about this, I think the way you solve it, is you play to the lack of morality and the greed, obviously, of these individuals, and you create a billion dollar fund and you say, somewhere between 1 and $10,000,000 for people who knock these people out, and we have an agency that takes these calls and somebody in I don't know, I don't want to name the country because I want to come across as being disparaging of specific cultures. But I think these people will get ratted out if you're organized about it. I don't see any other way to handle it other than security measures, I and think the lowest find workarounds. But this is another example of because we don't embrace our brothers and sisters and create the equivalent of a global interpoleneato focused on cybercrime because we're so focused on the dumpster fires we have to deal with every day,
Kara Swisher · 36:27
Mhmm.
Scott Galloway · 36:27
You know, global cooperation or lack thereof has real consequences, and it's time for global cooperation around cybercrime.
Kara Swisher · 36:34
Yeah. It's not unlike... You know, it's not really weird. I watched the Thomas Crown affair the other night because I love that movie, the one that With Pierce Brosnan? Pierce Brosnan and
Scott Galloway · 36:42
Renee What's name of his
Kara Swisher · 36:45
Renee Russell.
Scott Galloway · 36:46
Oh, she's very good.
Kara Swisher · 36:47
She was good. And it was about art. You know? It's it's the same kind of thing. It's like this sort of keeping things for... Like, doing things like that. And I I just was thinking this is a... This is something that really does get to the heart. It's not just... It's it's so targeted. It's so criminal in terms of hacking sometimes is very just let's just wreck things, that it's really... It does require a police force is what it is. You know? It requires a police force that we we take seriously and fund seriously to to deal with this because it is like breaking and entering and stealing someone safe. And I I don't know why it's any less. And I do I do know why people pay these things. It makes perfect sense. But there has to be not just people hiring private companies, and again, there'll be... There's a zillion of these you can hire and and how to deal with them. But how do you... It should be... The Department of Homeland Security and the FBI have got to be able to beat back this threat. So
Scott Galloway · 37:40
we need global cooperation. We need everyone from the Mossad to MI six to the the Japanese security force. And not only that, we need the Chinese and the Russians to buy into this. And I I actually think they probably would if we had anything resembling. Anyways, this is just another failure that everyone talks about how globalization has been bad for the world. At least a lot of people have come up with arguments on it. No, it's not. Globalization, cooperation, you're less likely to declare war on people you're trading with. There are shared victories around, joint police force and enforcement that we can celebrate together, and this is one of them. The biggest the biggest economies in the world should all bind together to try and eradicate this. It's it's bad for... My sense is it's bad for everybody, but a few bad actors.
Kara Swisher · 38:22
Yeah. And what it is is it attacks a certain size business. It is like constant series of robberies.
Scott Galloway · 38:27
And a software company, stocks have skyrocketed. Cybersecurity stocks have skyrocketed this year. If there's a group... If you were to say, alright, in a year we know, or in two years, we know this group of stocks that have crashed, and you think, well, that's probably a good thing, it'd be cybersecurity, right? If their stocks went way down, that would probably reflect a positive in our society. But not to say they're not wonderful people and good companies, but that whole industry has has gotten bigger and bigger every year.
Kara Swisher · 38:53
Probably somewhere you need to invest. Anyway, Scott. Yeah. One more... Thank you very much, Jonathan. One more quick break. We'll be back for predictions.
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— Predictions segment begins —
Kara Swisher · 40:02
Okay, Scott. The only thing that seems predictable in 2020 is we'll continue to be a dumpster fire inside of whatever Jake Tapper said. Well, how about a more concrete prediction?
Scott Galloway · 40:11
So I'm allowing myself to say that I do think that, I do think and it's dangerous to say this out loud, but when I saw that debate and I see the polls and this isn't my prediction I do think Biden looks like it looks like the landing lights are on for a Biden victory. And I think my prediction is, based on the calls I've received, that as we get closer and a Biden victory looks more likely, I think that Palantir stock is going to crash. If you look at... AOC sent a letter to the SEC asking And it's like, how many times is arguably the most powerful congressperson under the age of 40 sent a letter concerned about a company about to go public? Former, you know, they have people, they... Peter Thiel has made the ultimate oligarch's rookie move, and that is he has become too close to the source of power, and Palantir has been contaminated. And if Biden gets in, I just can't imagine they're gonna have a lot of open arms and and very receptive people, the people who are in power who make funding decisions around government. And I think as we get closer to a Biden administration, people are going to go, is this thing worth 20 times revenues given the risks of of people like AOC being in any meeting going, no, we're not allocating any capital. I wouldn't be surprised if anytime she's in a meeting today, she would go, does this agency spend any money on Palantir? I I just think those kinds of questions are coming for them. So I think I think that goes down. Also, other prediction is around... So I think the stock gets cut in half somewhere in and around a Biden victory. The other prediction is Disney, and we talked about this, mother of all recurring revenue bundles lying fallow here. The stock, despite the incredible assets here, has been pretty middling because of some of the issues you talked around the parks. A super impressive opportunity for an impressive activist here is gonna show up at Disney. There's too much opportunity. There's too many fallow assets. There's too
Kara Swisher · 42:13
Ask much for what, Scott Galloway, who is somewhat of an activist, recall. What who who... What what would they say? What are they... What is their argument?
Scott Galloway · 42:20
They're gonna they're gonna start with the ultimate opening line, which I start with every activist letter I've ever wrote. There's nothing wrong with Disney that can't be fixed with what's right with Disney, and we need to take advantage of this crisis to move to a recurring revenue bundle instead of trying to get people to come in for $120 or buy a movie for $4.99. We need to move to the ultimate Amazon PrimeLight bundle called Disney plus plus, and that activism
Kara Swisher · 42:43
written that letter, Scott Galloway?
Scott Galloway · 42:48
Oh, you're you're such a pointed journalist. You are so good. You are so good.
Kara Swisher · 42:54
I'm a very famous podcaster on the Sway podcast.
Scott Galloway · 42:57
Kara, let me put it this way. Yeah. The best way to predict the future is to make it. This is gonna happen.
Kara Swisher · 43:02
Scott Galloway is
Scott Galloway · 43:03
a pain in the activist. This is gonna happen. No. It'll be someone more talented who quite frankly has has a deeper pockets than
Kara Swisher · 43:10
contacted?
Scott Galloway · 43:12
Have I been contacted? No. I just I just have discussions
Kara Swisher · 43:15
with people. Start trouble.
Scott Galloway · 43:16
This is this idea is so obvious. This idea... We've... This isn't new. I've been talking about a recurring revenue bundle at Disney for a year now. Alright. Okay. Mean, we've been talking about this for a year, but it is so ripe because while the market has screamed higher, you have a company with incredible assets whose stock has gone sideways. Alright. It's time. It's time.
Kara Swisher · 43:36
Would you recommend people buying it
Scott Galloway · 43:37
then? Yeah. Think about this. Think about this. The guy in charge is the guy at the parks. You have you have Kevin Mayer kind of floating around out there who's an incredibly talented executive. This company this company just is needs to command the space it occupies. This is one of the... This company has more assets than any consumer company in the world. Name a consumer company
Kara Swisher · 43:59
back. He's there still.
Scott Galloway · 44:00
Name a consumer company that has more assets.
Kara Swisher · 44:03
I agree with you. What about Bob Iger then? You have the other Bob, Park Bob.
Scott Galloway · 44:07
I don't know the relationship.
Kara Swisher · 44:08
Who left TikTok.
Scott Galloway · 44:09
Yeah. But Bob Iger has more credibility other than Doug McMillan. Doug McMillan and Bob Iger have more credibility, than any old economy or what you call traditional economy company in the world. Okay. Bob McMillan is taking advantage of that. And by the way, what did... What did... What has he done? Oh, he's announced a Rundle called Walmart Plus. He's differentiated with health care, not media. Iger and McMillan have more AI would I would kill for either of them. That's like the presidential ticket I was hoping for. But anyways
Kara Swisher · 44:38
Oh, aren't
Scott Galloway · 44:39
But anyways, both of them Sounds have more great. Have more credibility than any corporate executives in the world. Doug has taken taken that baton and is running it with it with Walmart Plus. I think you should differentiate with health care and that would mean that.
Kara Swisher · 44:52
I think if you could put a Rundle in in a shot, you would give it to people. That's what I think. Rundle is your favorite thing.
Scott Galloway · 45:01
Look. It's... It is the only
Kara Swisher · 45:03
way speechless.
Scott Galloway · 45:04
It is the only way it is the only way you can double your market capitalization double your market capitalization with no increase in revenues.
Kara Swisher · 45:11
Alright. Okay. Well, then it is. There's gonna be a run at Disney by an activist now that we know. Alright, Scott. That's a good one. That's alright. Okay. We'll see what happens, but I agree with you. It's a great asset. Alright. Before we go, we've been getting great questions from our listeners, and we want more. What do you think is being underreported in tech and business? That's our question this week. We're gonna we're gonna spur you to give us a question. What do think is being underreported? Email us at pivot@VoxMedia.com. Not anything about Scott Galloway, obviously, because there's just one kiss ass profile after the next.
— Predictions segment ends —
Scott Galloway · 45:45
Who did you blow? That's the way I like to start my podcast. Who did you... Hi, Scott. Who did you blow?
Kara Swisher · 45:50
Off. And then, of course, you bring it. You bring our dirty laundry into the main. Fine. Whatever. It's on the lawn.
Scott Galloway · 45:56
We're on the lawn. So political.
Kara Swisher · 45:57
We're on lawn yelling at each other, and that's not a Brad Parscale comment. That sounds like a very
Scott Galloway · 46:02
tragic situation. I...
Kara Swisher · 46:04
You know what? I'm staying away. Not a fan, but I feel bad when someone's obviously... Whatever is going on there between those two people, it's just terrible. It's a terrible situation.
Scott Galloway · 46:16
What do know? Another another disturbing item from the Trump administration.
Kara Swisher · 46:20
Yeah. I know. Everyone. Like, Maggie Haberman wrote something like every... Still another traffic accident. Everybody who gets near that president gets Yeah. Burned. So he's not strong, Scott. Let me ask him make out from strong. He's a drunk uncle you need to throw out of the house. That's what
Scott Galloway · 46:35
he is. So with you.
Kara Swisher · 46:37
Druncle. Alright. Email us at pivot@voxmedia.com. Not if you're a drunkle. Don't even think about
Scott Galloway · 46:43
it if
Kara Swisher · 46:43
you're a drunkle. Anyway, Scott, please read us out.
Scott Galloway · 46:45
Today's episode was produced by Rebecca Simonas. Fernando Finite engineered this episode. 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 like this show, please recommend it to a friend. We'll be back next week with a breakdown of all things tech and all things business. The nightmare can be over. Voting has started. Voting has started. Do something do something I haven't done in a decade. Open your mail, and if it says, hi. Here's your ballot. Vote. If you don't get that mail requested, let's let's send them in. By the way, 10 times the number of people have voted by mail to date than have the same point in 2016. Embrace the mail. The mail is gangster. It's Mangster. Kara Kara, who did I blow? Who did I blow?
Kara Swisher · 47:36
Alright. Now, you know, we've just become the debate. We literally just became an I am Biden, and obviously you're Trump.
Scott Galloway · 47:42
Alright.
Kara Swisher · 47:43
Chris I'm so glad. Thanks for... No. You are not Chris Wallace. He has amazing hair. Yeah. 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 and and... Unless Scott breaks down
Scott Galloway · 47:56
before go. Weekend.
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Kara Swisher · 49:02
only.
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