Scott Galloway · 44:24
Or what what is your... We we all have to make a living. We all... You you talk about the importance of economic security, but how does this play into your career?
Guest · 44:33
So I like to look at... And I advise anybody in any industry to do this. Think about what you would be doing in your industry ten years from now. So I'm in accounting and I already see it at my day job. We are instilling a lot of different technology and these days you have to be very technology, you know, and that's right. You have to understand technology and what it's doing and where things are moving. And the trend for education is going online. With the pandemic, we all were forced to be in our houses and many of these kids had to learn online. But now I think that it's because the internet has made online learning so much easily accessible, I see that people are gonna be on the internet looking for this information, which I actually will provide in courses. So I have a bunch of courses in the pipeline. One is actually releasing next week, and it's about just money management. Okay? And then as these courses build, we are gonna increase things. So I'll have current events, Discords, way that people can actually communicate and be up to date about current economic trends that are not biased because you wanna have the education piece, then you make your own decision from there.
Kara Swisher · 45:32
Mhmm. So you have categories of videos. You have money hacks. What's your number one money hack?
Guest · 45:37
My favorite one is... Piece of advice is there is risk in everything, so I don't want that deter you from from investing. You know, maybe back in the day, you could have your money in a savings account, and then you could retire, and you could live off that savings. That that world has long gone. Okay? And now in order to actually make a living and become more financially successful, you have to step out into that risk curve. So not being afraid and actually researching everything you know and taking time to educate yourself so you can make sounds... Make sound financial decisions is very, very crucial, and it's the best thing I can tell anybody to do. Don't ever just listen to someone on the Internet. I say it on my videos all the time. I'm just a random girl on the Internet. Right? Go do your own due diligence.
Kara Swisher · 46:17
I don't think so, but okay. Sorry. I don't think you are. Thanks, Kat. In that way, you know, you also cover investing, and one of the things Scott's been talking a lot about, not... I wanna get... I want Scott to talk about buy now pay later, but when people don't have experience in investing and wanna jump in with a small amount, they sort of get sucked up into whatever it's an AMC meme or whatever it happens to be. How... What what what is your... How do you recommend for someone who doesn't have experience?
Guest · 46:43
To start and get started? Okay. It depends. So I believe that at the very least, you should be investing in something every single month because as I said, if you're saving, you're losing. And we all see inflation now. I mean, I've been preaching from the mountains since 2019, but this has been going on for years and now we're actually seeing a lot of traction. So people are talking about it a lot. Right? So inflation has taken over and we need to make sure we're figuring out ways to keep our money secure and sound. So when you're first starting out, having something that's automatic, maybe if you're not so comfortable yet, but you know you wanna get started, you can try ETFs, right? So these are gonna be exchange traded funds that are gonna be a collection of different bonds or stocks and whatever kind of entry you're interested in. Right? So I would say, since what you're interested in, something that you can actually research and you won't get tired of, and then you can from there pick an ETF, which would be something that you could invest in every single month. Mhmm. And that'll be like your passive investments. But you can also get active out here. Right? And you can also target companies that you actually like. So if you like Amazon, just throwing that out there, look at their financials, get an understanding of what's coming up next. Every quarter, these companies have conversations with their investors and they let them know what's exactly in the pipeline for them. So get comfortable with these companies and then actually put some money in. So a lot of times people will say, I wanna invest. And then they just sit there with the money in their savings account. If you actually just put something in there, now you have some sweat equity, right? You have some skin in the game, and that'll motivate you to look into it deeper. At least that was my experience, especially with, like, precious metals, for example. Definitely wasn't on board with that at first, but I said, let me just invest something in there. And then as you see it growing a little bit, you get excited, and then you put more effort into it.
Scott Galloway · 48:22
I'm curious if you see a difference between the financial literacy of boys versus girls. And I think a lot about this. I think that boys have this problem when they think, I don't need to save because I'm gonna be a baller and someday make a $100,000,000. How do boys think about it differently than girls in high school, or have you found a difference?
Guest · 48:42
Yes. I've absolutely found a difference. And and even when women are actually into these things, a lot of times they're into, like, the cute budget planners. This is... I hate to to do this because obviously I'm a woman too, but I can't help but notice what I notice. Right? So in... On the YouTube realm, I'll have plenty of men commenting, and a lot of them actually do know their stuff. Right? So a lot of them are engaged. They're talking about more complex matters. And I only really see the women get excited when I'm doing budgeting stuff. So I don't know what that... Why that is necessarily, but it's very interesting. I think women don't take on these more complex problems enough and actually wanna learn about these more complex financial, you know, situations. And the men seem a little bit more... So maybe to a full. Maybe they think they they know it all. Right? So then they're on my channel like, you're wrong because blah blah blah blah.
Kara Swisher · 49:32
You know? Me let me...
Scott Galloway · 49:34
Crystal, just just on the subject, let me put forward a thesis and you respond to it. We all see DOPA hits at that age. And boys get DOPA from gambling, and they approach investing as a gambler, and girls get DOPA from buying. And they think about saving money as a means to an... Such that they can buy something really fabulous. Your thoughts?
Guest · 49:53
Yeah. No. I think it's absolutely true. And and even sometimes the guys will fall victim to just, you know, like, lifestyle creep or just buying things frivolously for no reason. Yeah. But definitely women, I'm guilty of it. I like to have my nails done. I like to go out to eat and things like that. So, yeah, we're we're we're victims of our society.
Kara Swisher · 50:12
We have two more questions.
Guest · 50:13
One of
Kara Swisher · 50:13
the things that Scott's talked about and written a lot is buy now, pay later
Scott Galloway · 50:16
Mhmm.
Kara Swisher · 50:17
Which is a trend, you know, all these apps, they when they do that in instant credit and things like that. You've had a video talking about how minimum payments and credit cards are designed to keep us in debt forever. Obviously, there's been a lot of attention given to student debt right now, And it gets amplified by the Internet in a lot of ways. How how do you look at that? That... Because because people get... They're sucked up into Robin Hood in a gamified way. Right. You're you're trying to make investing fun, but there is a danger to making it too fun. Correct?
Guest · 50:45
Yes. And we have just repackaged layaway in so many different ways. These buy now, pay later, like, know, after pay Klarna, and even fractional shares, in my opinion, is definitely a form of layaway. You can't afford the whole stock, so you're just buying piece by piece. Mhmm. While on one hand, it is great because it does open up, I guess, more accessibility for those who cannot buy full shares of stocks, but it is teaching us how to be a very, you know, debt hungry society buying off of margins. So you're basically taking out loans just to get stocks and, you know, getting into really high risk things. So I definitely don't encourage these type of buy now pay later, especially with clothes. A lot of it is buying clothes or buying just random things that in your house. If you can't afford it, you probably should not be buying it. That's just a stark reality. You know? So these these type of companies are encouraging us to get into more debt. Debt makes the world go round, so someone has to be in debt, honestly. But the more people that we can actually convert to not really following the system, the better.
Scott Galloway · 51:47
One of the biggest reasons for divorce is financial disagreement. Have you... I I think you have such an important voice. Have you thought about bridging financial security and financial literacy to relationships and how important it is to start having those conversations earlier in a relationship?
Guest · 52:04
Oh my goodness. No. I actually made a video about relationships and money Mhmm. Years ago, and it was, like, one of the worst performing videos I've ever had on my channel.
Scott Galloway · 52:12
Never mind.
Kara Swisher · 52:14
Some of
Guest · 52:14
the people are not interested.
Kara Swisher · 52:16
Yeah. I'm active. Well, see, you know, I have one last question. Should we get on TikTok? Crystal, you made a jump. We... We'd be terrible on TikTok.
Guest · 52:25
No. You guys would be awesome on TikTok. Are you kidding me? Get on there. We do. What should we do?
Scott Galloway · 52:29
I would slip and break a hip on TikTok.
Guest · 52:32
No. You guys should definitely post pieces of your podcast on TikTok. Even just, like, you recording on TikTok, people... I mean, oh my god. The engagement on TikTok is so awesome. It's becoming, like, a more fast paced YouTube, and there's a wealth of information on there. And I really see a need for, you the political things that you guys and talk the finance business things that we talk about on there. There's a there's a need for it on there. That's A lot so times, just like a whole bunch of billionaires talking about how great they're doing and how you should buy their course. And yes, I'm gonna sell them a course too, but my focus is on accessibility and helping raise awareness about these financial topics.
Kara Swisher · 53:05
Well, in any case, we find Crystal fantastic. You should follow her. You can find her on TikTok at Crystal Todd CPA. That's Crystal with a k. Where are you on YouTube? What's the same thing?
Guest · 53:15
It's the Cash Compass.
Kara Swisher · 53:17
The Cash Compass. Alright. Anyway, she's fantastic. I watch not that much TikTok, but I... You were someone I found. I I... As I tell you
Scott Galloway · 53:25
The math and mathing, Kara. Math...
Kara Swisher · 53:27
Math and math and math.
Scott Galloway · 53:28
Math math
Kara Swisher · 53:29
Anyhow, we're big
[Ad break]
— Predictions segment begins —
Kara Swisher · 54:47
Okay, Scott. Let's hear some predictions.
Scott Galloway · 54:50
So I just have one, and it's always dangerous to make stock predictions. So I'm trying to avoid it and just talk about what I buy and what I sell, but that's not gonna stop me today. Twitter right now is at about $40 a share, which is way off the supposed closing price of $54.20. It's gonna be in the twenties, in the next, I don't know, thirty to sixty days as it becomes... Two things become increasingly clear. The person who agreed to buy it is not going to buy it, and it's very difficult to enforce. It's very difficult to get someone to show up with $45,000,000,000. You can fine them. This is all about the fine now, but people are gonna wake up and realize, okay, he started acquiring shares at $32 a share. And since he began acquiring shares at $32 a share, the peer group is off 20 to 50%, meaning the natural level of Twitter is either in the high teens or the low twenties. And when people realize that it's just increasingly unlikely this individual is gonna show up with the funds and the next stage of realization will be people realizing there really isn't another deal here done at a lower price because the board can't accept a lower price from a guy whose agreement or commitments mean nothing. So I think you're gonna see huge pressure on Twitter stock as all of a sudden the stock price begins falling to its natural level as a independent Could Elon then return?
Kara Swisher · 56:21
That's the thing with the hostile.
Scott Galloway · 56:22
I think he's outed himself as someone who's not a credible acquirer.
Kara Swisher · 56:25
I know, but a hostile thing. Go over. He could do a tender offer.
Scott Galloway · 56:27
He could do a tender. That's an interesting one. I think he's got his eyebrows pretty badly burned off here. Know. I I mean, has not been good for him.
Kara Swisher · 56:38
The bloom is off the rose, as they say, but we'll see where it goes. We'll see. We'll see.
Scott Galloway · 56:42
Any predictions from you, Kara?
Kara Swisher · 56:43
I do not. I just predict what do I predict? I don't have any predictions.
Scott Galloway · 56:48
There you go.
Kara Swisher · 56:48
I don't have any predictions.
Scott Galloway · 56:49
By the way, it's a shitty business. You're smart not to do it because when you get them wrong, people remind you. When you get them right, they're like, well, of course, because all they've been signing
Kara Swisher · 56:55
up for I'll one. I'll do one, not a stock one. I think Sheryl Sandberg's gonna get a CEO job if she wants one. I'm gonna tell you that. You were talking about
Scott Galloway · 57:03
Do you... Okay. But does she want one? I think she wants to run
Kara Swisher · 57:06
for I don't know. I'm just saying, a lot of people talked about this this weekend. I tend to agree with them. And actually, Bill Cohen wrote a really good piece about it. I think it's very hard to find experienced CEOs that have the experience she has in all the stuff she has. I think they will look the other way. Certain companies will go, you know what? She's really good at what she does. We'll see. Anyway, I don't know. If she wanted to, she certainly could. Alright. That's the show. Don't forget, to send us your dating questions, by the way, because we're gonna have a special on that. Go to nymag.com/pivot to submit your questions for us, or call 85551 Although, Crystal shut our our our relationship money thing down rather quickly. Mhmm. In any case, we're going for it. We're gonna have that as one of the questions. Anyway, the link is also in our show notes. Okay, Scott. That's the show. We'll be back on Friday for more. Please read us out.
— Predictions segment ends —
Scott Galloway · 57:56
Today's show was produced by Lara Nayman, Evan Engel, and Taylor Griffin. Ernie and Jertod engineered the episode. Thanks also to Drew Rose and Miele Severio. Make sure you subscribe to the show wherever you listen to podcasts. Thanks for listening to Pivot from New York Magazine and Vox Media. We'll be back later this week for another breakdown of all things tech and business. The math ain't math in Kara. Have a great week.
Kara Swisher · 58:16
Okay. Great.
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Guest · 59:23
See you
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Scott Galloway · 59:23
for details.
