Kara Swisher · 41:19
The people don't. They've gotta make these workplaces better for the people because they've been taking advantage of the And car too Uber's gonna cost more. Everything's gonna cost more. And that's that's why the inflation worries. But people don't want are reevaluating. And so people should also reevaluate their business plans in terms of how they're gonna misuse people's sweat equity, essentially.
Scott Galloway · 41:41
Yeah. But this is a wonder... This is a wonderful thing. We have said, and I think the Biden administration deserves credit for this most recent bailout, which is more than 50% is going to individuals, whereas the previous CARES package where more than 50% was going to corporations and organizations. And finally, there's an effective union in America, and it's called the US government. And it said that it is better, we're going to give people enough money so they don't starve, and it's going to force... But you summarized this perfectly. If you're a cool little restaurant, Doing a great job offering consumers great tapas, well, good for you. But if the only way that business can run is by finding people who need flexible work, and because they have no other options, they will take $7.08 dollars an hour, then that taparia should go away. That's fine. That's fine. And there's certain businesses that just shouldn't be around if they need to be driven on software that circumvents minimum wage laws. Lyft and Uber should be much smaller businesses. Boomers don't need not boomers, millennials don't need to take SUVs to the airport. We need to reinvest in public infrastructure. So I think this is wonderful what's going on and bringing up finally the wages of lower income workers. And it was the government that finally stepped in and said, you know what? We're the union. Unions are totally ineffective and have been ineffective and have been a fantastic foe for corporate America because they're so fucking weak and stupid and poorly managed and corrupt. Hello, unions.
Kara Swisher · 43:02
Yeah. Okay. Alright.
Scott Galloway · 43:03
And finally finally, wages are rising. Finally, the economy is starting to recognize that they're gonna be the wealthiest nation in the world. They gotta start acting like that.
Kara Swisher · 43:12
What I find interesting is Republicans always say people don't wanna work, and they'd rather just take the hand out. You know what? They're... Know, rich people do this, reevaluate their life, where people who have degrees reevaluate. I'm gonna make a pivot. Everybody gets, you know, great idea, good idea, find... You know, do something fresh and new and entrepreneurial. When other people say, this is not... What we're being paid is shitty, and we want better terms, they call them lazy. Like, oh, and we're not gonna work because we're getting money over here. They... The the ability to make choices is the sign of a real society of... On all levels, the ability
Scott Galloway · 43:44
to choices. Very American too. Our our... One of our core competencies in America is we leave. Yep. And that is we're not afraid to leave a country and come for something better. My dad's core competence is leaving. Whenever he was in a company or a state where things weren't going well for him, he packed his bags and he moved to Phoenix. He just said, I'm out. And Americans, if you look at European or even other cultures like in Japan, they tend to stay with the same employer. They tend to stay in the same geography. In America, the fluidity of capital, your ability to allocate capital to where it'll be most productive, is an unbelievable component of an innovative society. And our human capital here is not afraid to get on a plane or in a car and just drive west.
Kara Swisher · 44:29
This is true. Although, don't think we take as good care as we can over the things like health care. So we don't... We we really leave them no, like, if you mess up or you get injured.
Scott Galloway · 44:38
We're slowing down the fluidity of human capital because people can't leave because of No.
Kara Swisher · 44:42
I get that. That's what I'm saying. We should we should protect them more to be able to use this thing. It's an interesting talent. I have this similar talent. I go. I go. In fact, recently, I was working
Scott Galloway · 44:50
You go.
Kara Swisher · 44:51
And something was awesome.
Scott Galloway · 44:52
Your career... Kianya, don't
Kara Swisher · 44:53
look back. Look back. I... Someone was, like, saying that do this, and I I just... I literally wrote back a one word answer to a negotiator. I went no. I just was like, no. I didn't know what to do. I was like, no. Thanks.
Scott Galloway · 45:05
Occasionally, like, after a long weekend with my kids, I sometimes just wanna get in my car and drive.
Kara Swisher · 45:09
Said that to you, man. Car and stuff. To Amanda. I was like, I would like to be in Hawaii in a shack. I was like, we were getting some oysters at this really wonderful oyster bar called the Matunik Oyster Bar here. And there was a little house across the way, and this guy was getting his little rowboat in his little house. And I'm like, I would like to be that person. I...
Scott Galloway · 45:28
Having... I just wanna say having kids is hugely overrated on a day to day basis. Enough... Some more advice to 27 year olds. It's not. Condoms.
Kara Swisher · 45:35
No. Wrong. Condoms. Daddy, don't
Scott Galloway · 45:37
listen to past fall. No. Not have kids
Kara Swisher · 45:39
in audience. They're great. They're great. We're gonna
Scott Galloway · 45:42
When you're older. No. When you're older, and you can lubricate it with a lot of help.
Kara Swisher · 45:46
No. No. No. This is not true. I do care. No. No. I have help. I don't do that much much of the time. Anyway, I do have a lot of
Scott Galloway · 45:53
needs to sleep in.
Kara Swisher · 45:54
Alright. Okay.
Scott Galloway · 45:55
Daddy needs to sleep in. Have someone you can hand them to. You wanna love your kids and love yourself?
Kara Swisher · 46:00
Listen. You've gotten canceled 12 times during the show, and I'd like to limit it to 12 if you don't mind. We're gonna go through... We have one more
Scott Galloway · 46:07
quick is gonna call me.
Kara Swisher · 46:09
Alright. Okay. Yeah. They're not. Okay. Scott, one more quick break. We'll be back for predictions, and my prediction is they're not gonna call you.
[Ad break]
— Predictions segment begins —
Kara Swisher · 47:34
Hey, Scott. We're gonna go through a lot of predictions next week, including the fact that you're not gonna be chair of the FTC, which I'll tell you more about in a minute. But give us one for this week, a very short one, because we've got a very important close this week.
Scott Galloway · 47:46
Record year for new business startups. Just to every point we've been talking about, people are reevaluating their lives. There's more venture capital available than ever. When people come out of a crisis in an organization, they're much more open to doing things differently. We have between commercial office space, health care, education, you have $5 or $6,000,000,000,000 being thrown up in the air, it's gonna land in different places. This is really exciting. This is a new era of entrepreneurship. We're gonna see new business formation go back to where it was in the Carter administration. It has been in a huge slump where only people of a certain gender, ethnicity, certification could start companies or really successful companies. Venture capital is recognizing they want to evaluate CEOs based on their skills and their grit, not necessarily there was a profile. Drop out of Harvard, go to work for a hedge fund, then you can raise money. And now they're saying, well, it's more than that. So I think this is very exciting. This is a great one of the wonderful things about America and the reason we always seem to get through things, we're like that Terminator guy that can remorph when an arm gets cut off. We adapt faster to economic changes in any country in the world. This is a great era of entrepreneurship. We're going to see more new business started in the second half of twenty twenty one in six months. Alright. Period in the last thirty or forty years.
— Predictions segment ends —
Kara Swisher · 49:05
We are gonna hold you to that, and I'll explain that later. But before we go, today is Rebecca's last day producing pivot. We love Rebecca. Rebecca, come on and tell us where you're going because this is quite a doozy.
Scott Galloway · 49:18
This is exciting.
Speaker · 49:19
Yeah. It's bittersweet, but I'm going to be the head of audio for Archwell overseeing the creative partnership between the duke and duchess of Sussex and Spotify.
Kara Swisher · 49:31
So Megan and Harry, why don't you
Scott Galloway · 49:33
say More than that. Don't be... Oh, aren't you a little? Yeah. Oh, you're so coy. Come on. Don't be so coy.
Kara Swisher · 49:40
This is Megan and Harry. What?
Speaker · 49:43
Will never be royal. Royal.
Kara Swisher · 49:46
Like, this is so cool. Can we meet them? That's the first time. But can they come on can they come on our show?
Scott Galloway · 49:51
Talk about the mother of all upgrades. Harris Swisher and Scott Galloway to Megan and Harry. Yeah. That must have been a tough decision whether to leave or not. That took her all of a quarter of a second. I'm in. Yes. We haven't made the offer yet. I'm in. I'm in.
Kara Swisher · 50:03
They're doing it with Spotify. Fascinating. Spotify and Netflix and all those are hiring all the fancy people like the Obamas, etcetera. So what are they doing? You know what?
Speaker · 50:11
We haven't... We're we're still working on it. I'm gonna start in August, and I'm gonna be moving to LA. Mhmm. I'm... New York girl is going to LA. Wow. And, you know, I don't really have anything specific to share. Oh, okay. Oh, looks good. Take this time to talk about how handsome Scott is. No. But wait. I really don't think we spend nearly enough time talking about how handsome Scott is.
Kara Swisher · 50:33
Alright. Alright. Rebecca, what would you like? Let's see if Rebecca's.
Scott Galloway · 50:36
Let's stop. I can't believe someone in our universe is going to work for Megan and Barry. How did that happen?
Kara Swisher · 50:41
I don't know. We don't know.
Scott Galloway · 50:42
How did that But it
Kara Swisher · 50:43
did happen, and we feel great about it. Now, Rebecca, let's give Rebecca the stage for 14, essentially.
Scott Galloway · 50:50
Know Well done.
Speaker · 50:51
You're gonna call me sappy, but I really, really do wanna go on a mini rant about just, like, watching the two of you as leaders over the past couple years because, like, I started this show when it was, like, just the two of you. And I just... So, Kara, you are just like an absolute emblem of breaking the glass ceiling for all of us. And, like, I wanna thank you for personally believing in me because that meant so much in my life. And, like, all women in media are just following in your footsteps.
Kara Swisher · 51:22
Oh, thank you.
Speaker · 51:23
And we all owe you a debt of gratitude, and your place in the world has given me permission to be my fullest, most ambitious self in a world that, like, consistently asks me to shrink. Oh, ask me don't shrink. Scott, what I wanna say to you is I had no financial education. I was, like, a waitress stuffing dollar bills into my pockets until pretty recently. And you have given me the tools to really understand how money works in my personal life, and then also how money works, like, on a macro level and how it transfers power and really what it means. And with that knowledge, it's made me better at understanding sort of, like, what our responsibility is to one another and to the government. And I just... You know, by watching you guys do these things that you just do because you're just you, I've gained so much that maybe you couldn't know on a day to day basis. And then one final thing, which is that I listen to all the listener mail questions. I really do, genuinely. All the listeners, and they come from New Zealand. They come from Germany. They come from Hawaii. They come from all over the world. And I... We only get to pick one, but they're so good. Our listeners are so smart, and I believe that smart questions are better than smart answers. So go to newyorkmag.com/pivot to submit your questions to the show, And that's it. Rant over.
Kara Swisher · 52:45
Oh. Boom. Thank you.
Scott Galloway · 52:47
Wait. So just let me get this.
Kara Swisher · 52:48
Okay.
Scott Galloway · 52:49
Kara helps you be a more courageous woman, and I've helped you balance your checkbook. I was looking for something. I don't get anything more than that?
Kara Swisher · 52:59
No. Literally?
Speaker · 53:02
Well, so this is what I was actually going to say. Oh my god. Is the truth is
Kara Swisher · 53:06
the first
Speaker · 53:06
day of the pandemic.
Kara Swisher · 53:08
Compliments. Go ahead.
Scott Galloway · 53:09
First day of pandemic,
Speaker · 53:11
When it was... When the pandemic shut down, Scott called me, and I was like, oh, crap. Like, what did I do? What did the show miss? Like, what happened? And Scott called me, and he said, hey, Rebecca. I just wanna see how you're doing. And if anything... If your family needs anything, if you need anything, I want you to call me. And that was it. And I I didn't say need anything because But I had this he's a softy, and he's a good one. And for anybody out there who's like, you know, like, Scott's more of a feminist than you'd think he is. I'm gonna say it. Yeah. Yeah. I'm gonna say it's not
Kara Swisher · 53:44
much a feminist. He is indeed. In any case, Rebecca, you've been a wonderful... Not just employee. Listen. No more compliments for Scott. Rebecca, you've been a wonderful employee, and you've been a wonderful, producer, and you've saved Scott's ass numerous times. Let's just be clear.
Scott Galloway · 53:58
Yes. Thank you from... Thank you for saving me from myself, Rebecca, and thank you for building this.
Kara Swisher · 54:02
And We're in big trouble
Scott Galloway · 54:03
now. Putting up with us.
Kara Swisher · 54:04
Don't think you're gonna have the same problems with Harry and Meghan. In any case, we can't wait to hear hear these shows that you make. We think we we... One of the things that Scott and I like to do, and Scott can finish up talking about it, is we love when people leave us. I know it sounds crazy, but I've had a lot of employees over time, and I love seeing them be successful. I love seeing them move on. We never... I never get mad when people move on. I think people should always pursue what what the next thing is. And you... You've had your learnings here, and you've you've improved drastically, and now you're ready And for your next so we think that's great. And anyone who employs, especially young people, be generous when they're going off. I... That's one thing I have to say is be be happy for people leaving you and moving on and doing better things, and we feel good about that situation. Mhmm. But, anyway, Rekka, you're you're a treasure, and they are lucky to have you. That's right. May say the final words.
Scott Galloway · 54:55
Plus plus one on everything Kara said.
Speaker · 54:58
Thank you for everything, guys. Thank you.
Kara Swisher · 55:01
Alright. So pivot marches on, as we say. We'll actually actually be be off off this Tuesday enjoying the long weekend, but next week, we're gonna kick off something a little different, our quarterly review series. Oh, fun. Like any good business, it's good to take stock of how well you've done so far and forecast what the future might look like. So going forward, every quarter, we're gonna round up our biggest wins and fails and see how well we did with our predictions. We are accountable to you. That's how we feel. And unlike some other companies, we are accountable, to the the mistakes we made and the good things we made. We don't just wanna tout ourselves. We wanna also reflect. And we'll also make some new ones. Catch that episode next Friday. Scott, read us out.
Scott Galloway · 55:40
Today's show was produced by Rebecca Sinan. Is there any Entertaine engineered in this episode? Thanks also to Drew Bros. Make sure you subscribe to the show on Apple Podcasts. If you're an Android user, check us out on Spotify, frankly, wherever you listen to podcasts. If you like the show, please recommend it to a friend. Thanks for listening to Pivot from Vox Media. We'll be back next week for another breakdown of all things tech and business. Thank you for your support, your expertise, and your grace. Rebecca Sinanis, we will miss you. We will, part of that compensation for our disappointment will be watching you progress. Make us proud.
Speaker · 56:11
Thank you so much, guys. Thank you.
