Kara Swisher · 48:10
Scott, we're back with earnings news. Microsoft just reported a blockbuster quarter with total revenue surging 18% year over year to $76,000,000,000. But as Microsoft doubles down on AI, the capital spending is climbing up 27%. Meta also had a huge q two with $47,000,000,000 in revenue, up 22%, and 18,000,000,000 in profit, up 36%. Meta's AI hiring spree also acknowledged in the earnings with compensation for technical talent in priority areas cited as the second largest driver of cost growth. These big deals are paying all these AI researchers. What... How do you look at this? Are these AI bets paying off, or it's it's advertising for Meta? That's their old business that's doing well, probably helped by AI, but not in the way Zuckerberg is spending. Any thoughts on on this? They're really... They're really doubling down on AI, obviously, whether it's it's research costs or talent costs or just simple investment in compute. Any thoughts on these two earnings?
Scott Galloway · 49:09
So you forwarded me an article from The Wall Street Journal that was really fascinated, and it said basically, this is the weirdest GDP report we've seen in a while because when imports go down 30%, it sort of artificially juices GDP. And if you're thinking about these numbers, well, one, okay. So the numbers of traditional business is just staggering. They continue to perform. They're using AI for better targeting, and I think every media planner in the world is throwing up their arms and saying, just spend more money on Meta or on Alphabet. They also have the benefit of the market has decided that it loves CapEx in AI. The market has decided that AI is going to be enormous, and whoever wins the war, it's going be a function of brute force and that is as represented by CapEx. So Oracle... When Oracle went public, Larry Ellison, I think, owned about 24%. He now owns closer to 41%. Well, how is that possible? They would use their cash flow to buy back shares, thereby decreasing the amount of shares and increasing the relative ownership of people who own shares. Except about two years ago, he decided, nope, It's now a capital war in AI. We need to be a distant number two of infrastructure to NVIDIA. We're gonna massively spend in CapEx. Arguably, that was one of the better business decisions of the last ten years. And Larry Ellison, you wanna talk about elephants can dance, is now the second wealthiest person in the world. And the most crazy stat from that article, and I still can't believe it's true, but it stated in that article that there was more spending last quarter on AI investments than there was consumer spending. So think about this. 355,000,000 people in The US, everything they're spending money on, their Netflix, their Starbucks, going to see f one, all the all consumer spending was less than the investments in AI? I mean, my god. That is
Kara Swisher · 51:12
I know. The numbers are that massive.
Scott Galloway · 51:14
That is just staggering. But meta up 12% in premarket. Earnings beat a massive earnings beat, seven fourteen versus five eighty nine. Revenue of 47,500,000,000, expected 44.8, a 22% year on year. And one of the things that was so impressive is they grew their customer. They they grew their customer base or their users by 6%, which may not sound like a lot. But when your base is 3,500,000,000, that's
Kara Swisher · 51:40
too There's no other game in town. There's no other game in They
Scott Galloway · 51:43
added they added the population of Brazil to their user base year on year. So... And in addition, the market loves this CapEx. They... Their CapEx spending was $17,000,000,000. By the way, that's double what it was last year. It isn't... And the market just loves it.
Kara Swisher · 52:03
Well, someone has to pay for all those those young men that they're... I mean, billion dollar deals. They... You know, whatever you say about Marco Zuckerberg, he goes for it. Right? And even if he made a mistake with with Meta. And the same thing over at Microsoft. The question is, what... When does it not pay off? Like, here you have Grok doing it. You've got Amazon doing it. Amazon just paid even the New York Times $20,000,000 a year for its stuff, which is nothing, which is peanuts. You know, I just think that this is a this is a arms race for these people, and and it... There... It's being paid off in the market right now for them, and they're using that in order to to, like, goose themselves rather. And you're right. There... Everything is being shifted over to these seven tech companies and nobody else. And so Ford and GM who have made strides are gonna suffer, so will John Deere, so will all the other companies at the expense of these people. Now, interestingly, Zuckerberg had to put out one of his essays. These people love to put out essays and letters and vision manifestos. He loves to do this, and and they're always long and badly edited. But, he said AI super intelligence is now in sight. He put out this letter and video outlining his vision for it. It was described by one outlet as a mini manifesto. Let's listen to Mark Zuckerberg if we have to.
Speaker · 53:21
A lot has been written about the scientific and economic advances that AI can bring, and I'm really optimistic about this. But I think an even more meaningful impact in our lives is going to come from everyone having a personal superintelligence that helps you achieve your goals, create what you wanna see in the world, be a better friend, and grow to become the person that you aspire to be. This vision is different from others in the industry who wanna direct AI at automating all of the valuable work.
Kara Swisher · 53:49
Blather. This is the Road to the
Scott Galloway · 53:51
person you aspire to be.
Kara Swisher · 53:53
Ugh. It's such... Did he this before on his
Speaker · 53:56
guy that's gonna... I'm gonna be the person I aspire to be
Scott Galloway · 54:00
Honestly, it's of Mark Zuckerberg.
Kara Swisher · 54:02
One time he called me when he wrote one of these ridiculous manifestos. He called me and asked me when I... When he was speaking to me, what I thought of it. And I said, one, you need an editor. Two, I don't understand this. This whole thing about community. He just was like, social media will bring us together. Like, such fuck... And, of course, it didn't. And I I was... At the time, I was like, this is such bullshit. Just just say you just wanna make money on automating all our valuable work. I'm fine with that. Right? But this is... These people just aspire to be these visionaries, and they are the smallest intellect... They have the smallest intellects and the least amount. They just love to put these things out. You know, Jamie... You don't hear this from Jamie Dimon much. Right? And who is... By the way, he's been meeting with president Trump, is a good thing. Like, you don't hear this nonsense from our smarter people in... On our society because they don't feel the need to do... Remember when Gates put these essays, the road ahead? It was so nonsensical, like, to do this. Now one thing Zuckerberg did say, which I agreed with, but I didn't think he had to put on such such thing, is he said smart glasses will be the primary way people interact with AI. Of course, he said that because he has a smart glass business. And without them, people will be at a cognitive disadvantage. Do you think you're gonna be at a cognitive disadvantage without, you know, AI glasses?
Scott Galloway · 55:20
Well, I mean, the idea... So these LLMs, I've always said that the LLM is just a function of who we are, but unfortunately, we are in a certain medium. And I wish the LLMs could crawl the real world because I think generally speaking in the real world, that people are lovely. But the fact is they're crawling our complexion, our personality online, and it gets really ugly really fast. And if this AI... I've always said that companies were the closest thing I had to kids before I had kids, and that is you conceive of them. They look, smell, and feel like you. They're sort of a corporate embodiment of the personality. And if if Lama, the LLM from from Zuck, ends up being anything anything like him, it'll be emotionally stunted, brilliantly efficient, and constantly urging you to reconnect with your ex. I mean, it's just gonna be such a weird... If this thing ends up... Like, when you heard that, didn't it sound AI generated? It's like the nonhuman human?
Kara Swisher · 56:23
Oh, it's just... No. Because he's done it before. It's, like, so anodyne. It is so... I literally had this bad memory for... I was at my ex's house, like, spleaking on a couch, and he called me.
Scott Galloway · 56:35
And I was kicked out on the couch? Talk to me about that.
Kara Swisher · 56:37
Because we were broken up.
Scott Galloway · 56:38
Was too?
Kara Swisher · 56:39
No. We no. So it was just so fucking ridiculous. It was like, I remember going, oh my god. How can I get off this fucking phone call with this idiot who just thinks who? Just thinks he's a visionary? Like, literally, no... There's so many visionaries. Like, John Malone's recently written a book. He's a visionary. Like, he doesn't talk that much, and what he says is choice. These guys can't stop fucking talking and giving you their predictions of the future. It's ex... Like, I wanna hear it from you, Scott. I don't wanna hear it from this.
Scott Galloway · 57:08
Yeah. I like this guy. You gotta give... He is a visionary. He really is. But his vision is a legless universe where people are cutting themselves. That's his vision.
Kara Swisher · 57:16
But, like, then he says, like, I'm here to help you achieve your goals, be a better friend, and grow a person you aspire to be. It's not about automating all your value work, Mark. It's about automating all your valuable work and so you can make money off of it. Could you say that? Like like, honestly, this this nonsense of being... Facebook is not gonna make you... A is not gonna make you a better friend. Facebook isn't gonna allow you to create what you wanna see in the world and grow to be a better person, and neither does Mark Zuckerberg care about that. Like... And then... Oh, by the way, buy my glasses. Like
Scott Galloway · 57:47
If if I asked AI to give me an image of Mark Zuckerberg that defines who he is, I feel like it would be... Granted, I I... This might be the Edible speaking, but it would be a guy at a really sad malt shop sucking up the world's user data through a straw. And every time he made eye contact with you, he'd apologize and look away. I just think this guy is so unusual, so strange.
Kara Swisher · 58:13
Dangerous.
Scott Galloway · 58:14
And and he, to his credit, he is really... He is actually smart enough to... I think he notes... He realizes it, so he brings in really likable people, whether it's Nick Clegg or Sheryl Sandberg. But just getting back to... I just wanna talk a little bit about earnings. I I was so blown away by this quarter's earnings, just the amount of CapEx these guys are throwing at it. I think Microsoft may be the organization as of today that has invested more money, more capital in the future than any organization in history with the exception of countries during war. And by the way, it's paying off. They're up 8% of premarket trading. They blew away their earnings, $3.65 versus $3.37. The revenue was 76,500,000,000 versus 73.8 expected. Revenue was up 18 year on year, and then its cloud based unit Azure grew 39% this year. This... That is just... So if Microsoft basically... If you applied the same price to sales ratio to its cloud unit, it would be a $1,000,000,000,000 business. And right now, it's it's a $75,000,000,000 revenue business. And they're planning to spend 30,000,000,000 on capital next quarter. That's up 50% from the same time last year. And if it kept constant, it would work out to be a $120,000,000,000. And that means right now, the the category that is getting the most CapEx of any category in the world is AI, and the company spending the most is is Microsoft. Microsoft is right now spending more money on AI than I think almost any organization in history has spent on anything with maybe the exception of a percentage of GDP what Britain and Russia have spent during wartime or something like this. It is... This is... Meta's quarter, I think, is the biggest investment by a private company in history on anything, and it's paying off. This company... These companies... I mean, it's just this tariff bullshit. These companies... While Ford is trying to figure out how many times a windshield wiper comes across or not from Canada or Mexico and how to fucking build their business and estimate it
Kara Swisher · 1:00:21
and spend any is me capping them while these guys
Scott Galloway · 1:00:23
Then you have these guys that are just running flat out and just killing it, just literally running away with
Kara Swisher · 1:00:31
they kill? They have nothing in their way. Like, they never have anything in their way. Like, Ford and GM and John Deere, they have things in their way. These guys have no obstacles. So... Or they have no regulatory obstacles. They have no... Like, they just buy their way into some... Seamlessness, which is their favorite part.
Scott Galloway · 1:00:49
But but think about This is what these guys do. They're like, okay. The two of them added $550,000,000,000 in market cap since 4PM last night. Since they announced their earnings last night, they've added $550,000,000,000 in market capitalization. So they just added, oh, let's add Netflix. Let's add... I would imagine the French stock market. I mean, people don't get
Speaker · 1:01:15
a sense of the scale.
Kara Swisher · 1:01:17
It's working for them. It's machine. Anyway, speaking of things that aren't a machine, let me... Let's finish up. Novo Nordisk shares are plummeting after the company slashed its full year guidance, citing weaker than expected US growth for Ozempic and Wegovy. The stock dropped 30% at one point on Tuesday, wiping out nearly $93,000,000,000 in market value. Novo Nordisk is blaming the downturn on increased competition from Eli Lilly's Mounjaro and Zepbound as well as, I think, more significantly cheaper GLP one knockoffs and which are not going away. They thought they were going away when the things got settled in terms of manufacturing. The company also named a new CEO, replacing previous CEO who was ousted by the board in May as the stock was sliding. This is incredible. A product that is going to be so big, and the company at the top of it is just losing it. This to me is just one of these amazing stories because of all kinds of, you know, pressures from... Of course, competition was gonna get in here. It's only gonna get bigger in the GLP one market. But very quick thoughts on this because it's the opposite here. Right? An amazing opportunity that's been blown, I guess.
Scott Galloway · 1:02:20
Well, speaking of tariffs, the number one, import into United States from Europe is pharmaceuticals. And I said two years ago, I was mocked for this, that I thought the more important technology in terms of on the ground change to society was not AI, it was GLP one. And what's happened here is that because of a shortage and kind of a loophole, some companies have been able to offer compounded GLP one, which is basically like saying generics. And HIM stock went crazy because they were able to basically sell GLP one drugs for a fraction of the price. And then as you mentioned, Eli Lilly's GLP one offering, Zepbound, is now more popular than Begovy. I absolutely love this. I still think the category is gonna grow like crazy. Only eight percent of Americans have taken a GLP one, but about but about a third of them are interested. I think if you want it, I think the most accretive thing you could do for our economy right now would be to offer access to GLP one drugs for everybody. I think if you look at the obesity industrial complex that wants people to buy a sugar bomb, eat shitty food, take advantage of the lowest calories to cost that people have to turn to in food deserts, and then hand these people over to the companies producing statins, hip replacements, knee replacements, kidney dialysis. They effectively were monetizing people's health, and so much of it is obesity related. The obesity related healthcare costs are 1 to 1,500,000,000,000 a year. Similar to what the equivalent of the FDA did in The UK, I think it's the UK Health Ministry, they said, If you are smoking, we'll send you for free an electronic nicotine delivery service because while that is not good for you, it's much less bad for you than tobacco. I think over the medium and long term, if you really wanted to have an impact on health care costs, you would make GLP one drugs accessible to absolutely everybody.
Kara Swisher · 1:04:09
Correct. So what did this company, which is the front... Forefront of it, do wrong?
Scott Galloway · 1:04:13
Well, the honest answer is I don't know. I don't know if it's distribution or branding, but I would argue right now it's a great value because this is, if not the market leader, one of the market leaders in what is a... An unbelievable business and category, and it's trading at a PE because it's been hammered because it's not performing well.
Kara Swisher · 1:04:35
Well, interesting. They did a deal with him and hers. Right? And then they continued to sell the knockoff, so then they got in a fight with him and hers. Right? So him and hers was selling the knockoff, then Novo Nordisk did a deal with them, and then it fell apart because they were all... They... The continued selling of the compounds, which need to be regulated, by the way, is really something that loophole really has... You know, these guys should have been riding off into the sunset because they kind of... But they don't because of these GLP one knockoffs. That... It's fascinating that this is what got them, that they didn't anticipate this.
Scott Galloway · 1:05:07
The market has a tendency to over punish and over reward, and the momentum right now is against these guys. So with their five year average PE has been 33, it's been as high as 50. Today, it's gonna open at 14.6. And when you think about the average S and P company trades at a PE of 26, to get the market leader, even though it is underperforming expectations in GLP one at 14.6 times earnings, I actually think the stock is a buy right now, but there's no doubt about it. This is a national champion for Europe that is quote unquote faltering or not living up to the expectations, but I actually think the stock has been over punished. And I have... Of all the technologies of the last ten years, the one I'm most excited about is GLP one. I think it's a game changer.
Kara Swisher · 1:05:49
Absolutely. In fact, in doing this secret documentary, one of the things that every doctor has said is I asked them what they think the most important developments of technology in pharmaceutical, and they're always like mRNA vaccines.
Scott Galloway · 1:06:00
That's interesting.
Kara Swisher · 1:06:02
CRISPR CRISPR and GLP ones. Every one... They make... They're like, I don't know which one's more important. And they all mention GLP ones on a range of things because it's it's just beginning. We're beginning to understand it. I would agree with you. Alright. We have to move on. One more quick break, but we'll be back for predictions.
[Ad break]
Speaker · 1:07:10
Off of value, October 21, US only. See you tomorrow online for details.
Kara Swisher · 1:07:13
I get so many headaches every month.
[Ad break]
— Predictions segment begins —
Kara Swisher · 1:08:18
Okay, Scott. Let's hear a prediction. I have a very quick one very quickly. Kamala Harris announced this week she's not running for governor of California. She also revealed she's written a book about her campaign called a hundred and seven days. I'm not so sure she's gonna run for president. I didn't think... As I told you, I didn't think she was gonna run for governor. I I don't think she's gonna run for president. I think she knows that she can't win, and she has enough responsibility to understand that. And and so I predict she will also not run for president.
Scott Galloway · 1:08:47
Well, I'm good at running other people's lives. If I was the vice president, I would go be the chairman of a hedge fund, make a shit ton of money, and just wait for the next Democratic administration and be a supreme court justice. Yeah. I don't think That's
Kara Swisher · 1:08:58
what I'm
Scott Galloway · 1:08:59
always saying. I don't think she needs the risk of potentially lose. I'm not sure she'd win governor, and she just doesn't need that.
Kara Swisher · 1:09:05
And does she really win by a lot if she wins. Right? So if she even... If she wins and doesn't win by enough, she'll be she'll be tarred in that regard.
Scott Galloway · 1:09:13
And Cal... A lot of people describe California as ungovernable, that it's just... That special interest groups are so entrant... People say this is a... Even even Republican governors will say, I would not want that job. Right? That it's a very difficult I think I think it's the right move.
Kara Swisher · 1:09:29
I don't think she wanted to do. I don't... I think she... As as an executive, she didn't want... She she didn't have the fire. When I talked to her, I could tell. Like, mm-mm. It was like she's supposed to versus she wants to. So... I don't
Scott Galloway · 1:09:40
She's probably sick of running. I I I hope... Yeah. I don't I don't think she should, and and, you know, I thought she did.
Kara Swisher · 1:09:48
Good try. She did. She had a good try.
Scott Galloway · 1:09:50
Given the hand she was dealt, I think one of the greatest performances in history by any athlete or person, when I saw her walking into that debate with the president and the amount of pressure on her shoulders and the way she handled herself, I thought
Kara Swisher · 1:10:04
Good job. Great job.
Scott Galloway · 1:10:05
Yeah. She deserves a lot of credit for trying to run a US style race hamstrung by what was, you know, British election.
Kara Swisher · 1:10:15
Biden. Yeah.
Scott Galloway · 1:10:16
Yeah. British election cycle time. I mean, she had what? A hundred and eleven days or something to try
Kara Swisher · 1:10:20
to put on? She had Biden hanging
Scott Galloway · 1:10:22
around her. I hope she's happy. I don't I don't know.
Kara Swisher · 1:10:24
I hope so too. I think she's a... She's been a great public servant. I don't... I just don't think she's gonna remember.
Scott Galloway · 1:10:28
But she... She'll be a... She's literally the first supreme court justice appointee of a democratic presidency. She'll be
Speaker · 1:10:34
She'll be she's needs
Scott Galloway · 1:10:35
a of work.
Kara Swisher · 1:10:36
Yeah. That's a lot of work. Okay. What's your prediction very briefly?
Scott Galloway · 1:10:39
So each year I pick an IPO of the year, and that is an IPO I think is gonna do really well. Airbnb, last year it was Reddit. Today, I believe will be the IPO of the year, and I think that IPO is a company called Figma.
Kara Swisher · 1:10:52
Figma.
Scott Galloway · 1:10:52
And it's a design company, and I've been building these. My son's been trying to find a business and building these sites, and it is just so obvious that design is the salsa to the chip of all AI. And that is whenever AI returns anything, it just looks so, you know, anodyne, generic, just... And if you look at designers, if you look at... For example, IBM used to hire one designer for every 70 programmers. Now it's Now it's one to 10. Design is a booming field and seems to be somewhat so far immune from AI. Figma is essentially this kind of collaborative software company. It's great for design. The thing that got me looking at it was my partner at Prop G, Catherine Dillon, is a professor of the visual arts at Tisch or professor of the arts, teaches a very popular course called design language. And the first thing she does for her students is she asks them to download Figma. And this company... So there's this thing called the rule of 40 in SaaS, and that is you take your growth rate plus your profit margins. The rule of 40 for Figma, its profit margins around 20% and its growth this year is 44%, giving it a rule of 40 of 64, which puts it in the top five of SaaS companies. And just to give you a sense of how profitable and how economically efficient this company is, Uber spent $21,000,000,000 between two thousand and nine and twenty twenty one. Figma has raised 750,000,000, but has 1,500,000,000 on its balance sheet, meaning that it is a... It has accreted $750,000,000. It works with between seven and eight of the 10 of every Fortune 2,000 companies. Adobe is sort of the Mercedes, a little bit overengineered, an amazing company. They have responded with competition with Adobe Express because Figma is known as being more collaborative, but Figma is a little bit easier to use. Figma, I think, is more like Toyota. It's going out at 18 times revenues. And the most interesting, I think, think about this, is this was the IPO that wasn't supposed to happen, and this IPO, which I think will offer investors an opportunity to invest in a great company, more competition, corporations will be able to have better products for a lower price.
Kara Swisher · 1:13:13
It's great that Adobe didn't get it. I think that was a great move by the government.
Scott Galloway · 1:13:16
Exactly right. And we'll come back
Kara Swisher · 1:13:17
to billion dollar valuation right now.
Scott Galloway · 1:13:19
Also, from an employee standpoint, we're worried, you know, obviously about employees. When companies are acquired, generally speaking, within a year, 18% of the employees have left of the company that was acquired. When a company goes public, usually, they hire... Increase their hiring in year one of 23%. And the reason this company is going public is not because of our antitrust, not because of our regulation, but because of EU antitrust, which blocked this merger. So while we're sitting on our hands, letting companies concentrate power and become... Create a less competitive market. The EU regulators said, no. This makes no sense to take the numbers one and two player and let them... Let, you know, let the upstart. Figma is sort of to Adobe what AI is to search. Adobe's still gonna be an amazing business, but this is the new stuff. These guys are kind of the the the new guys, and the EU blocked this. And as a result, Figma got a breakup fee of a billion dollars.
Kara Swisher · 1:14:13
It's just... It's still shy of the Adobe deal, but in terms of creating more billionaires, in terms of creating more economic value for people, this is the right way to go, as you're saying.
Scott Galloway · 1:14:23
Anyways, my prediction is the following. So as as... Yesterday, I was literally calling everybody I could to try and get shares in this thing for the IPO. Typically, they want to build a book of somewhere between eight and twelve times demand. And the way it works is institutions call and say, want a million shares. And they always vastly overestimate how much they want because any decent IPO, you're going to get cut back. Right? You're going to get trimmed back. So you put in an overallocation. A really good IPO builds a book of eight to 12 times the request for the number of outstanding shares or the shares being issued. I found out yesterday that Figma was 40 x oversubscribed. And if you look at the companies going out this year, not only have IPOs, there's been fewer of them, but the companies that have performed well are what I call... It's not that they're not great companies. It's that they're fashionable, like Chime or Circle, like stable coin shit. This is, in my opinion, a real company that's a great company that's killing it, that has amazing economics, great products. We haven't had many of those, if any this year. So, anyways, my predictions are following. Always dangerous to make predictions about stocks. This is not financial advice, but this is what I have been trying to do. I have been trying my damnedest to try and find shares in this thing because I think the first trade today... I think this thing closes up monstrously today, and we're recording on a Thursday morning. But I think Figma is what I'll call the first great company to go public in 2025, and I think it's going to be seen as one of the better IPOs of the year. I'm really excited about this company. Also, it's a lesson on the importance of antitrust and regulation. Who wins here? More employment. Investors have an opportunity to invest in a pure play, amazing company. Corporations, more competition, more tax revenue. And thank you, EU. They actually said, no. This is not a good idea. We would be better with two great companies, not one here. And as a result, this company is now going public. It was supposed to be acquired two and a half years ago for 20,000,000,000. It was gonna be acquired for 50 times revenues, but now investors will get a chance to invest at about 18 times revenues. So this is just a win win win.
Kara Swisher · 1:16:35
Win win win. And I hope you got shares, professor Gao. Anyway, thank you. That's an excellent prediction. I love that one. We wanna hear from you. Send us your questions about business tech or whatever's on your mind. Go to nymag.com/pivot to submit a question for the show or call 85551 Elsewhere in the Kara and Scott universe this week, this week on prof g conversation, Scott was with Ezra Klein, a New York Times columnist and host of the Ezra Klein show. Let's listen to a clip.
— Predictions segment ends —
Speaker · 1:17:00
What's not working is the Democratic Party being leaderless and rudderless. I'm not shocked that at the moment, if you ask people in a poll who they'd vote for, like, they don't really know what to say. Like, which Democrat? What do they know about them? But the Democratic Party is in a pretty shattered place, and so one of the reasons Democratic Party is very unpopular right now is Democrats do not like it.
Scott Galloway · 1:17:20
Now those people are not
Speaker · 1:17:20
gonna vote Republican, but they are pissed off at the Democratic Party, which has to them been ineffectual, which has to them been unable to stop, the worst of what Trump is doing, which is to them not come up with a message or come up with a set of leaders.
Scott Galloway · 1:17:34
Ezra's the kind of guy that wants to talk to you about his mushroom microdosing, but first asks if he can share his screen. You know?
Kara Swisher · 1:17:42
That was a good interview. He's really smart. He's really smart. I don't agree with him on everything, but he's really smart. Now, Scott, the time has come. The time has come. You usually get testy by this time of year, but Scott free August is upon us.
Scott Galloway · 1:17:55
It is.
Kara Swisher · 1:17:56
It is. Upon us. You're... I think you're, like, happier this year. You you usually get real testy and, like
Scott Galloway · 1:18:01
I'm a good place. No. I'm in a good place. I think it's Ezra Klein. Every time I listen to Ezra Klein, it's like listening to a meditation app describing the the collapse of democracy.
Kara Swisher · 1:18:15
But how much are you gonna miss me, Scott? How much are gonna miss me, really? A lot? A little?
Scott Galloway · 1:18:19
I don't miss anybody. I'm... I miss people when I see them. Like, I saw you this
Kara Swisher · 1:18:22
morning. You're always ready to see me stopping.
Scott Galloway · 1:18:24
I miss my boys. Those are the only people I've ever missed in my life.
Kara Swisher · 1:18:26
Okay. You miss me.
Scott Galloway · 1:18:27
What I do, Are you this way?
Speaker · 1:18:29
I don't miss people, and then I see them, and I think, oh, I miss them. I was like,
Scott Galloway · 1:18:32
good to see
Kara Swisher · 1:18:33
them. I I miss when you're not there. But we have some amazing cohosts coming up, guest cohosts. Mel Robbins, Let Them Lady, who's amazing. She has one of the top podcasts. Anthony Scaramucci, who was a big hitter last year, is coming back. Rachel Maddow is coming and being... Replacing you, Scott, and I feel like, you know, things could happen.
Scott Galloway · 1:18:52
Rachel Maddow.
Kara Swisher · 1:18:53
Rachel Maddow and more.
Scott Galloway · 1:18:54
Isn't it weird? People wanna replace me, but they don't wanna be on with me. Like, our guest quality goes up so dramatically.
Kara Swisher · 1:19:02
When you're not
Scott Galloway · 1:19:03
here this year's a big Yeah. I'm fine to replace him because I know I'll do better. It's a low bar, but no one wants to come on. Yeah. Secretary Clinton is gonna be Jessica's cohost at Raging Moderates when I'm gone.
Kara Swisher · 1:19:16
Oh, that's great. Yeah. I know. It's just amazing. Do you have any advice for these folks at all while you're away?
Scott Galloway · 1:19:21
Just a lot of lesbian jokes. Just the... That's that's my go to. By the way, if you listen to Ezra Klein's podcast
Kara Swisher · 1:19:31
Yeah.
Scott Galloway · 1:19:31
On one and a half speed, Okay. It's like listening to
Speaker · 1:19:34
a I'm
Kara Swisher · 1:19:35
gonna call you.
Scott Galloway · 1:19:35
Ask you. It's like listening to a normal person describe how to ruin a dinner party.
Kara Swisher · 1:19:40
Alright. Any advice for cohosts? Just lesbian jokes?
Scott Galloway · 1:19:44
A little nod to the dog and a totally profane, not that funny, but because it's profane and not that funny, it's funny joke. It's just the left... All of these people these people are somewhat left of the head of HR from the National Park Service. Yeah. So our job on this podcast is to grab humor back for the progressives. So be inappropriate. Show some humor. All gonna be dead soon. Yeah. Whoever you offend will get over it. Let them on that emotion, and just have some fun. Have have a great
Kara Swisher · 1:20:15
time. People will miss you. Anyway, I do. I always miss you. I'm... I always wonder what you think of things, so I'm I'm excited to... For you to get back in September.
Scott Galloway · 1:20:22
I'm not. Here's the answer. I'm not. Occasionally, people make
Speaker · 1:20:25
the mistake of going, what are
Scott Galloway · 1:20:26
you thinking? And I'm like, I'm not. What am I thinking about?
Kara Swisher · 1:20:29
Like, things happen, and, like, we'll catch up when you get back and stuff like that. And I will I will I will somehow come back. I'm gonna stay at your apartment while you're away. Anyway, that's the show. Thanks for listening to Pivot, and be sure to like and subscribe to our YouTube channel. I'll be back next week with a special cohost, and they will do their best to replace Scott, but nobody can replace the irreplaceable Scott Galloway. Scott, read us out.
Scott Galloway · 1:20:54
Today's show is produced by Lara Nayman, Zoe Marcus, Taylor Griffin, and Kevin Oliver. Ernie and her Todd engineered this episode. Thanks also to Drew Burrows, miss Severio, and Dan Shalon. Nishat Kura is Vox Media's executive producer of podcast. Make sure to follow Pivot on your favorite podcast platform. Thanks for listening to Pivot from New York Magazine and Vox Media. You can subscribe to the magazine at nymag.com/pod. We'll be back next week for another breakdown of all things tech and business. Cara, have a wonderful August and thanks for thanks for continuing to bring great work. And at some point, I trust you will take a long weekend or something. Anyways, have a great August, everybody.
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Speaker · 1:22:34
Home Depot. Off of value, October 21. US only. See store online for details.
Kara Swisher · 1:22:37
We just moved into our new house and I didn't realize just how close we were to the neighbors. That's when my friend told me about blinds.com.
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