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Podcast

Asking Scott Galloway 10 Questions We’re Not Allowed to Ask

My First Million

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  • Davos Encounter With Gavin Newsom
    • Scott describes meeting Gavin Newsom at Davos and feeling validated when Newsom hugged him and said, “keep doing what you’re doing.”
    • He contrasts that with seeing Lindsey Graham ignored, which gave him unexpected joy. Transcript: Scott Galloway Who had the most gravity towards them? Who were you drawn to? Oh, hands down, Governor Newsom. Wow. I walked down, there’s this, in the Congress hall, first off, I haven’t been back to Davos in 27 years. I peaked early. Like I came out of the gate strong and then divorce, dot-com implosion, great financial recession. My career went sideways for 10 or 15 years. So it’s taken me 27 years to get back to Davos. And I’m walking around. I’m like, I’m not running for office. I’m not raising money. I don’t have, I’m not pitching anything. Why the f*** am I here? And my favorite moment, I walked down into the main area of the Congress Hall. Gavin Newsom was walking around like I’m the president, and everyone believed him. He had an entourage. That guy has such star power. And this was the nicest moment for me because I’m desperate for other people’s affirmation. He’s walking with an entourage. He spots me in the corner of his eye, and he comes over to me, and he hugs me, and he says, keep doing what you’re doing. Governor Newsom has that star power. Hands down, star power. On the other side of the spectrum, I saw this old man with a pod belly walking around desperate to find someone to talk to. (Time 0:01:10)
  • Davos Shows America’s Brand Shift
    • Scott says Davos shifted from e-commerce in 1999 to AI now, reflecting how the global brand of the U.S. has changed.
    • He concludes the U.S. brand fell from ‘capitalism and consumption’ to ‘chaos and coercion.’ Transcript: Scott Galloway The things I walked away from Davos with is that the last time I was there in 99, it was about e-commerce. And the U.S. Brand was capitalism, consumption, and Bill Clinton. Now it’s about AI. Everyone was talking about AI, and it’s about the American brand is chaos, coercion, and, I don’t know, compliance. I find the U.S. Brand has fallen so far so fast. I came away from Davos unsettled about how unsettled the world is right now, But I don’t think I Jew any. I personally, and people hate this, the billionaires I know, I know about a dozen, are actually really good people. The Bernie Sanders, Elizabeth Warren, like, you can’t be a billionaire unless you’re a bad person. Well, okay, Elizabeth Warren, you were 20 million. Does that mean you’re only a 50th is bad, but you’re 20 times worse than a millionaire? I don’t buy the rich people are bad. I have generally found that distinct of the Epstein files, which I understand gives people the impression that once men get to this point, they feel like they’re no subject to the rules. I think that’s a really interesting discussion. I personally have found that billionaires are generally very high character people because the key to being really successful is to create allies along the way such that you’re put In a room of opportunities when you’re not physically there. (Time 0:02:34)
  • Define A Financial Threshold And Act
    • Scott defines his purpose as raising good men and achieving ‘surplus value’ after giving back to the country.
    • He says once his net worth passes a set threshold he either spends the incremental amount or gives it away. Transcript: Scott Galloway From the country and from taxpayers and from the freedoms I’ve enjoyed than I’ve given back. So I want to get to a point of surplus value. And my purpose is I want to raise good men. I want to know that when I’m towards the end that I’ve raised really confident, loving men. Did you always think in terms of purpose? No. I mean, let me put this away. My purpose, I had two purposes. I wanted to be really fing rich and really fing awesome so I could take care of my mom and be more attractive to strange women. That was my purpose the first 40 years of my life. And so you have this perspective flip in your 40s. Sam Parr You know, if you’re influential to a bunch of guys today, who was that for you? Like, who influenced you to kind of change the way you were approaching things or shift your mindset or, you know, change your approach to life? Scott Galloway I’ve been really lucky. I’ve had a lot of male mentors in my life that have, you know, they usually say one thing that really sticks with me. But the big pivot for me in my life, hands down, was when my mom got really sick and I couldn’t take care of her. That just sort of changed everything for me. And that was money as a means of protecting people, not of having an awesome life. And it just sort of changed everything for me. Because up until that point in my life was prom, Star Wars, getting up with friends. And then this happens to everybody. I don’t know if it’s happened to the two of you. When someone you know and love gets really sick or, you know, and loves you a great deal, gets sick and dies, it just kind of, for me, it kind of changed everything. And not necessarily in a good way. I still feel like, you know, I’m a middle-aged man who hasn’t gotten over the death of his mother. And also, I mean, it sounds very passe, but it’s true. The death of my mother and the birth of my boys. And it wasn’t a Hallmark Channel moment when my boys were born. I’m like, I need to make more money. And I, it was 2008. I’d lost everything. And I just felt this like, it wasn’t angels singing and bright lights. By the way, I don’t think men should be in the delivery room. It’s gross. Bring, bring me the thing cleaned up with a bow in its hair while I’m smoking a cigarette. I think it’s just so woke and stupid that they allow men into the delivery room. But anyways, I felt shame. I’m like, I’ve been so successful. I’ve had so many blessings and I’m near broke. And now I’m responsible for this little science experiment. But it really rattled me. It was also very motivating. So it’s no one person. It was very birth and death as they’re supposed to be, have been the biggest influences on my life. Shaan Puri That’s a great answer. That’s pretty awesome. Scott Galloway Did you say you stopped worrying about making money in your forties? We talked about this. I decided that once I got to a number from 25 to 45, maybe 48, I did nothing but work. I did nothing but work. I wasn’t a good person. I wasn’t going out of my way to save the whales. I wasn’t investing in relationships. I wasn’t, I’m just like when, when, again, going back to when my mom got sick and I couldn’t take care of her, I was so traumatized by a capitalist society that doesn’t protect people who Are underinsured. I’m like, the only thing I can control is how hard I work. And you can’t decide to be economically secure, but you can decide how much of your own time and energy. I don’t remember anything from the age of 25 to 45 other than working. There was like a couple of trips to Hawaii, I think, but other than that, I don’t remember anything but working. But I decided, all right, if I get to this number, and the problem is your number keeps going up. And we talked about this, I think, in our last podcast. I said, when I hit this number, I’m done, and I’m going to do two things. Whenever I meet with my financial advisors and I do this once a year, they tell me, this is your net worth. And if it’s above that number, which it has been the last 12 years because it’s been an amazing economy, I do one of two things with the incremental number above that. I either spend it. I love to spend money. I’m great at it. I am so good at spending money. I spend money like a 50s gangster just diagnosed with ass cancer. I am living large and I love it. Or two, and then anything above that, I give away. And I don’t do it because I’m philanthropic. I do it because it makes me feel (Time 0:06:00)
  • Buy Time With Fractional Private Flights
    • Scott recommends a private plane (fractional ownership) to drastically reduce travel friction and increase family time.
    • He says it can add 17 extra meaningful days per year by avoiding commercial hassles. Transcript: Scott Galloway That. Oh, hands down, a private plane. Hands down. It lowers the bar for fun. You buy or you charter when you need it? I’ve owned a plane. That was a ton of fun, but it’s a ton of work because your pilots get divorced and there’s safety checks and all this bullshit. It’s like managing a small business. Charter is difficult because you end up comparing the prices and it’s a lot of work. Hands down, fractional is the way to go because you essentially can arbitrage scale up or down based on the mission if it’s just you flying somewhere you don’t want to belch that much Shit into the air so you go smaller plane if you’re taking two families to india which i’m doing you get a big plane and you don’t you basically just text them yeah it’s about i spend about One and a half or two million dollars a year but a friend of mine from high school i really like a Mormon kid getting married in a weird place. I’m gone. Why? Because I have a private plane. I figured it out. I can spend another 17 days a year either with my family or doing something fun because I’m not going to, I’m not connecting you know, through Dallas-Fort Worth and getting delayed. I’m also a bit of a nervous flyer, but yeah, I mean, I hate to say it, take my house, don’t take my plane. (Time 0:11:20)
  • U.S. Markets May Be Overpriced Now
    • Scott argues U.S. markets are overvalued after a 17-year outperformance and recommends diversification outside America.
    • He highlights the Buffett index showing the S&P at unusually high valuation versus GDP. Transcript: Scott Galloway Yeah, I’m selling down my American stocks, mostly because I’m diversifying, because I don’t want to lose. I’ve been rich three times, which means I’ve lost it twice. I can’t go back. You guys are young and have good hair. I’m neither of those things. I can’t make it back again. So I’m diversifying. And if you just look at the cycle of American markets or the global markets, typically the U.S. Outperforms for eight years, then emerging markets outperform for eight years. It goes back and forth. We’ve been outperforming emerging markets for 17 years. I still believe the market’s a cyclical. The Buffett index, stock market valuation versus GDP, he likes it at about 90%. It’s at 210%. The S&P is trading at historic highs. 97% of the time, the S&P has traded at lower valuations relative to earnings. So it’s not a criticism of America. I just think America is an asset. The rest of the world is an asset. There’s America as an asset, everything, every public company in America, every public company outside of America. They’re equally priced right now. They’re both, you can own every public company in America for $100, or you can own every public company outside of America for $100. What do you think is the better value right now? I mean, that’s a leading question, but I would have always assumed America. Oh, see, I think if you take, okay, every public company in China, Europe, Latin America, you think is worth less than the public companies in America? Shaan Puri I think that when you look at the SAP, I think that the big American companies, to me, aren’t American companies. Well, they’re international. Scott Galloway That’s fair. That’s fair. Shaan Puri So like Apple’s not an American company. It has its major office in Cupertino, but I don’t think of it as an American company at this point. Scott Galloway I think that’s a thoughtful response. Yeah. I think America is too expensive right now. I think Europe’s on sale. And by virtue of the fact that I am an American and basically the majority of my advertiser, I’m always going to be very invested in America because I own a bunch of real estate in America. And my company is largely driven by American human capital and American advertisers. So what I’m trying to do is, I think the most powerful word I didn’t learn until I was in my 40s was diversification. I just think America is expensive right now. It’s not even a statement on the judgment on America or American companies. I just think America is overvalued right now. (Time 0:14:45)
  • Deploy GLP-1s To Improve Public Health
    • Scott calls GLP-1 drugs the most transformative technology in decades and proposes distributing them widely to cut healthcare costs.
    • He says free distribution to rural households could halve certain healthcare costs and reduce the deficit. Transcript: Scott Galloway Think GLP-1 is a more transformative technology than AI. I’ve said this for a couple of years. So Sean, we were talking about microdosing or whatever it is. I’m going to assume you are microdosing GLP-1 drugs. Let me ask you, what’s had a bigger impact on your life, GLP-1 drugs or AI? I don’t microdose. What do you mean? I don’t microdose GLP-1s. So I can’t. Oh, I just assumed. Since I’ve seen you, you’re fit and trim, which I assume means you’re on McGovey. But we’ll go with the notion you’re not. Sam Parr You just Gavin or Newsom? Sure. Scott Galloway You just Newsom’d me. By the way, I don’t take ED drugs, just so you know. I don’t. I absolutely, I don’t know what you’re talking about. I don’t take Viagra before it’s go time every fourth Sunday during the summer solstice when my partner agrees to have sex with me. I absolutely don’t take Viagra. Anyways, let me ask you this then more broadly. If someone is on a GLP-1 and they’re using AI all the time, what do you think has a bigger impact on their life? For sure, the GLP-1. The fastest way to deficit reduction, if I could be president for a day or king for a day and add a magic wand, mandatory national service, let me say that right now, $25 an hour minimum Wage. But the third thing I would do, I would put out the mother of all RFPs, DeNova Nordisk, Eli Lilly, and say, I need a billion doses of GLP-1s. And then I would distribute it for free to every rural household in America. And I would take healthcare costs from $13,000 to $6,500. And boom, we have a deficit solved. GLP-1 is the most transformative technology of the last 20 or 30 years. (Time 0:17:55)
  • Build Third Places To Combat Male Loneliness
    • Scott sees a business opportunity in ‘third places’ like bars, sports leagues, and experiential centers to reduce male loneliness.
    • He also predicts developers will be incentivized to build more housing to ease youth entry into adult life. Transcript: Scott Galloway That’s a really helpful question. The first thing that comes to mind is third places. I think you’re going to see, you’re already seeing a massive uptick and unfortunately it manifests itself because there’s a monopoly ticket master in ticket prices to go see Taylor Swift or, you know, whoever it is. But I think third places, I think we need more bars. I think we need more sports leagues. I think we need, you know, Putt Shack, Wave Garden, Topgolf. I think we should provide subsidies to third places. I also think we need to unlock, I think, developers in the U.S. I think you’re going to see a huge counter-cyclical movement against NIMBY laws and that the government will probably come out with subsidies. Rent control makes no sense. That just makes housing more expensive because you limit supply. We need, instead of drill, baby, drill, it should be build, baby, build. I think the development companies are going to get government-sponsored subsidies to encourage them to build more, and we’re going to start doing away with NIMBY laws, such as what They’ve done in Minneapolis, what they’ve done in Austin. But housing has gotten way too expensive for young people for the entrance. And I think that being fewer to invest in developers right now or great third places where people meet, I think that’s a way to make money. Unfortunately, I hate to say it, the guys who are going to clean up here are the guys tapping into young men’s worst instincts. You’re going to see the speculation markets boom. Gaming is out of f***ing control because if you’re a 19-year dude in a French class at Cal State Northridge, it’d just be more fun to bet on whether the next pitch is going to be 90 miles An hour or greater. The most profitable companies are going to be the ones tapping into an immature prefrontal cortex of an American male. So unfortunately, the way to make money off the loneliness epidemic is probably meta because they’re exploiting it. In terms of how to solve it, I think that’s more public policy. I’d like to think there’s a great way to make money doing it. But unfortunately, all the profit incentives around making young men lonelier and lonelier. (Time 0:25:06)
  • Sexy Ideas Often Underperform Boring Bets
    • Scott’s best investments were in boring, unloved sectors like recurring-revenue benchmarking and retail shopping centers.
    • He notes returns correlate inversely with how ‘sexy’ an industry sounds. Transcript: Scott Galloway Working there sounds like I want to put a gun in my mouth. Take my money. The more boring and less sexy an investment is, that’s where you invest. The other shit you consume, but you don’t invest in it. Your return on your invested capital is inversely correlated to how sexy and cool an industry sounds. Shaan Puri But your big career win was L2, which I started watching you years and years ago on L2 because you would do No Mercy, No Malice, these amazing YouTube videos. I think I never, to be honest, I never understood exactly what L2 was. I didn’t know if it was like a consultancy or software, but it was basically helping brands look at different data to decide where they rank and what they need to do to improve. But you made that pretty, I mean, that on paper does not sound exciting. You made it pretty sexy and cool. I loved watching your YouTube videos. That was pretty awesome. Scott Galloway You’re being generous. It was digital benchmarking where we used software and scraping tools to aggregate 1,200 data points on a brand, and then we’d compare them to their peers. Shaan Puri Ooh, make it be weak at my knees just saying that. Oh, yeah. Just because you like money. Scott Galloway But yeah, that, and then recurring revenue model, you know, we ultimately ended up selling for eight times revenues. When I was doing strategy consulting, which sounded much cooler, I would charge William Snow or Levi’s half a million bucks to do their internet strategy. And then like two thirds of the way through the engagement, come up with new problems that only I could solve. So they would pay me more. But the recurring revenue, international benchmarking, you know, I think it sounds cool. (Time 0:27:43)
  • Test Partnership Before Marriage
    • To avoid marrying the wrong person, Scott advises living together first and aligning on money before marriage.
    • He also urges choosing a partner where you can be your true self and they still like you. Transcript: Scott Galloway Really thoughtful question. When I was a young man and I was trying to find romantic or sexual partners, I was constantly trying to figure out what person do I need to be that will get them to like me. I was trying to constantly figure it out. Do I need to act indifferent? Like I don’t care. I, uh, I was just, it wasn’t me establishing a relationship with this person or on a date with this person. It was my representative who tried to figure out what I thought this person would want from me or specifically how I could convince this person to have sex with me. And what you realize is the person you want to end up with is the person where you get to be you and they like you despite the real you. Like, and the best relationships I’ve ever had are people that I, like, I can be me around and they just really like me for me. I look back on sources of confidence. My first serious relationship with a woman named Melanie Kagan, and I was crazy about her and she was crazy about me. And I think that confidence of someone who actually knows you and you can be honest with and call and who sees your insecurities and still really is into you. I just think if I could wish anything on a young person, it would be the opportunity to be who you are around somebody and find out that people, there are people out there who will love you For that. I just think that I didn’t figure that out. I was constantly trying to put on a mask of who I thought would be the most attracted or interested in me and bragging and boasting. And also, I think the ultimate weapon, the ultimate aphrodisiac for young men to give to women is this strange thing called follow-up questions. For me, it was always controlled boasting. To actually just take an interest in someone’s life and notice them, I found was really powerful later in my life. I would also recommend probably being very careful about getting married young. I think you’re a different person at 32 than you are at 22. I would always suggest living together first to see what it’s like to have that kind of roommate. I think you need to get alignment around money. I’ve been the best man at four weddings, and I give the same toast every time, and it’s a sincere toast. There are three things to being a successful husband. The first is put the scorecard away. Decide what kind of husband, son, friend, partner, investor you want to be. Hold yourself to that standard. Don’t keep score. I’ve kept score my whole life with relationships. It’s been a disaster for me because you will naturally inflate your own contribution and minimize theirs and you always feel unhappy. Decide the kind of person you want to be, hold yourself to that standard. Two, always express physical and sexual desire. (Time 0:31:50)
  • Collect Ideas And Practice Writing
    • Scott credits his communication skill to ‘IP theft’: collecting and repeating good ideas, plus constant writing and practice.
    • He emphasizes writing well as the core of good communication. Transcript: Scott Galloway Mostly IP theft. I get most of my ideas from other people and I’ll pause when I see something really interesting or that kind of moves me and I’ll repeat it a bunch of times and try to apply it such that I remember It. I’ve just found this thing, I forget who even said it, but it really moved me. And it was that everything does not demand your judgment. You don’t have, you are entitled to not have opinions on things. And it, I just paused and I thought about it over and over and over. And I’ve used that, I’ve used that line a bunch of times because I was falling into this trap of Dunning-Kruger. I thought, okay, because I have some insight around a couple of things that everyone demands to deserve and wants my opinion on everything. And I do all these hot takes on the podcast and videos. And, you know, it’s like the Epstein files come out. And I’m like, all right, how do I wrap my hands around that? I’m like, you know what? Maybe the world isn’t dying to hear from me about the Epstein files. Maybe the world isn’t dying to hear about my views on Iran, although I have a lot of views on Iran. It’s like, okay, it’s okay to occasionally sit back and just shut the f*** up. Anyways, my point is, if I see something that I find really insightful and interesting, I stop, I read it a bunch of times, I try and apply it, and I try to cement it into my gray manner. So I don’t think I’m that insightful. I think I’m good at identifying thoughtful ideas. And I try to reference where I got the idea from, but there’s so much amazing material out there. (Time 0:35:54)
  • Scott’s Creative Routine And Team
    • Scott explains his output: seven podcast recordings a week, a weekly newsletter, and a book every 18 months supported by a 28-person team.
    • He says his creative ‘flow’ happens late at night between 11pm and 2am with dogs and an edible. Transcript: Scott Galloway I do seven podcasts a week. I put out a newsletter every week. Seven recordings a week? Seven recordings a week across different podcasts. I do two to three media hits, either radio or television a week. And I try not to work more than 30 or 40 hours. And storytelling is my core competence, but my superpower is I’ve always been able to attract and retain really good people. People come up to me and say i’m so impressed with your content i love your graphs and your doodles they think it’s me they think it’s me in my kitchen with a camcorder and doodling on a napkin I have 28 people at prop g media yeah i have some talent but the key between a practice and an enterprise that creates real money is to find outstanding people and get and get them to leverage Your time and your talent. But are you sitting down and actually writing this, these 1,000 or 2,000 words, and then they’re going to take that and help you turn it into more stuff? On Monday mornings, we do an editorial team with all the producers, all the data analysts, all the podcast hosts. And I have several writers. And we go through stories. So Epstein files, biggest story. I’m like, do we have anything original to say here? What’s the angle? No, we don’t have an angle here. Then I’m not interested in talking about it. Oh, let’s write about, um, the power of national or economic strikes, why it’s so powerful. And that the Trump administration only listens to markets, doesn’t lose to listen to protests, citizenry. That’s an interesting angle. All right. You’re writing the newsletter this week. You draft these paragraphs. I’ll draft these three paragraphs. I’ll edit it Thursday night. We need, oh, we have Josh Shapiro coming on the podcast tomorrow. What are the questions? We just go through all the different stories and content, and then we try and come up with original things, and then we start producing the content. And then when it’s good, we have great editors, we snake it through our channels. It might be the newsletter. It might be our Instagram posts. It might be our LinkedIn. It might be, if I really like something, I’m like, okay, that’s going to be chapter seven of a book called Project 2028, which is my next book, which is a response to Project 2025, more Of a progressive policy book. But we do an editorial meeting and people get to work. They pitch stories. They pitch me on all these stories. And I say, what’s the angle here? What’s the data or the insight we’re bringing to the story? And if you can’t answer that question, I’m like, well, let’s CNBC or CNN cover it. And what about your solo creative time? Sam Parr So, you know, Disney would wake up and doodle. Sure. Seinfeld wakes up, goes to the kitchen table and writes jokes for two hours. It’s the solitude part where you’re going to have your original ideas outside of the team. Scott Galloway I generally go to sleep around 2 or 3 a.m. And I sleep till about 10. And my creative time is usually my best hours are between 11 p.m. And 2 a.m. With the dogs. Everyone’s asleep. I feel at peace. I know my boys are safe. I turn on my fireplace sometimes I have a drink sometimes I have an edible and my dogs are with me and I do some surfing online I think about something that’s inspired me and I’ll either Go downstairs and do a video and a fur coat or I’ll start writing and then the next morning I look at it and go this is shit or I go oh this is pretty good and I start pinging it around and I say, Okay, add some data here. I’ll send it to our illustration people and say, start thinking about charts for this. We’re going to put it out in newsletter form or as a video. But I’m constantly thinking about and producing data. (Time 0:39:59)
  • Use 25x Burn To Define Economic Security
    • To calculate economic security, multiply your annual ‘burn’ by 25 assuming a 4% post-tax return.
    • Once you hit that number you can eliminate ‘should’ obligations and focus on wants and musts. Transcript: Sam Parr And it’s obviously somewhat different for everybody, but walk the listener through what is economic security? How should they think about that? Because I know guys who’ve got a lot who still need more. I know people who don’t have much that should probably fight a little harder to get a little bit more because they’d have more free time. Give me the milestones of the benchmarks and ideally with numbers that you can think of. Scott Galloway Sure. The number’s easy. Take your burn, take what you think you need every year to be happy. For some people, that’s 60,000 a year. My dad with social security needed like another 10 or 20 grand a year to live the way he wanted live. Some people need a million bucks a year. And then times it by 25. Assume a post-tax return of 4%. And once you have 25 times the burn you think you’ll need, you can start eliminating the should bucket. And does that change over time? Sam Parr Because, you know, your burn at the time when you probably first got secure was different than now if you’re spending $3 million a year? Scott Galloway I’ve been very open about this. I think not talking about your money is an attempt to keep middle and lower income homes down. Rich people talk about money to each other all the time. I spend $300,000 to $400,000 a month. So if you take that at $5 million times 25, I need $125 million to be economically secure. (Time 0:51:10)
  • Moving To Reduce Burn And Invest
    • Scott recounts moving from Manhattan to Florida in 2010 to cut expenses dramatically after his child’s school rejections.
    • He used the savings to invest and change their financial trajectory. Transcript: Scott Galloway You’re exactly right no one feels sorry for you but if you live i lived in manhattan and in 2010 i was just starting to get speaking gigs i was just starting to get sort of real money from Being a professor. My partner was working at Goldman. I think we were making seven or 800 grand a year. That felt like a lot of money to me. We couldn’t afford to live in Manhattan. We had just had two kids. Granted, we didn’t need to send our kids to private school, but we were going to. We were renting. Our rent was $14,000 a month. We needed a three-bedroom because we had to live in because she worked and so did I. We had no money. You know, it’s not your birthright to live in Manhattan. So what we did was, and the thing that sent us over the edge was my kid applied to seven schools at the age of four and got rejected from all seven because he was speech delayed. By the way, story ends well. He just got into UVA, early decision. So things worked out for him. But when he couldn’t speak at the age of four, all seven schools we applied to said no. So when schools that you’re going to pay $58,000 to, for the kid to play with blocks, decide they don’t want your son, I’m like, that’s it. We’re out of here. I moved to Florida back when it was inexpensive in 2010. And I’m not exaggerating. I cut my burn by probably 50%. I rented a place on the intercoastal for $5,000 a month instead of paying $14,000. The school was $14,000 instead of $58,000. And we were very disciplined. We took all of our savings, including the 13% of top line in tax savings, and we invested in the market. (Time 0:53:15)
  • Trade-Offs for Lifestyle
    • Have an honest conversation about what it takes to live the lifestyle you want in your desired location.
    • If you want to live in Manhattan, L.A., San Francisco, or Miami and have a fabulous lifestyle, you will need to make a lot of money.
    • This often means working all the time, unless you are wealthy.
    • There are many ways to be happy, such as living in a suburb, joining a country club, and coaching Little League. Transcript: Scott Galloway And kind of the rest is history. It’s fine to be ambitious. I find young people don’t want to have an honest conversation around what’s required to live the lifestyle they want to live where they want to live it. And people are really, there’s a lot of really happy people living in a suburb of St. Louis who join a country club, coach Little League, and make $100,000 a year. Their husband is a nurse. Maybe they work part-time. He works part-time at a nonprofit. There’s a lot of different ways to be happy. But be clear, if you want to live in Manhattan or L.A. (Time 0:54:44)