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Scott Galloway- Why I'm Selling My American Stocks

My First Million

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  • Shaan’s GLP-1 Experience
    • Shaan Puri shared his experience using GLP-1 drugs five years ago after discovering them on a Reddit forum.
    • He experienced weight loss and a reduction in cravings for alcohol and ice cream.
    • Shaan also noticed he bit his nails less while taking the drug.
    • He still microdoses occasionally and finds the new varieties interesting. Transcript: Sam Parr He’s like, yeah, I’m losing weight. He’s like, but I also, I don’t have any cravings. Scott Galloway You told me, you said on the podcast, you go, I think this is going to cure alcoholism. What technology tells you to stop eating ice cream and eat more kale? Shaan Puri Well, okay. So I, I, I’ve been sober for 12 years or so, but when I took it five years ago, I was like, you know, what’s crazy is I walked by a brewery the other day. And sometimes when I walk by breweries and I smell like hops, you guys ever like smell that in the middle of the day? I’m like, oh, that’s amazing. I wish I was there. I remember smelling it. And I was like, I don’t like wish I would, like, I don’t want to go there and like drink this stuff. And then I remember eating like a scoop of ice cream or just a bite of ice cream. And I was like, that was lovely. I don’t want it anymore. I’m done. And then I also bit my nails less. It was, it was a magical drug. It was a very magical drug. And people like me, I’m a fairly fit person. I don’t know if it’s entirely, it’s, it’s not necessary for people like me, but if you’re obese, I think it’s, uh, it’s really amazing. But yeah, I, I, and I, and I’ll microdose it every once in a while because I just think it’s interesting. And there’s always like new varieties, you know, it’s like getting the latest and greatest car. There’s all these like new varieties that are just like wild. It is pretty amazing. I think metformin’s really interesting too. But there’s a bunch of these drugs, man. They are pretty crazy. Scott Galloway I think it’s, I’d give that out. I really enjoy this president thing. I would eliminate capital gains and mortgage interest rate deductions. Shaan Puri Actually, I need to correct myself. We said dictator. You’re a dictator. Scott Galloway Oh, better, much better. So this was- If you have a benign, the best-ranked countries in the world, i.e. Singapore, it’s a benign dictator. If you get a good dictator, that’s absolutely the way to go. You could argue that China, in a lot of ways—I mean, we hate anything that’s not democratic. I get it. The Uyghurs, a lot of people describe Xi as a murderous autocrat. The life expectancy 40 years ago in China was 47. (Time 0:21:05)
  • Intergenerational Wealth Transfer
    • Fiscal policies over the last 50 years have transferred wealth from younger generations to older generations.
    • The average 70-year-old is 72% wealthier than they were 40 years ago, while the average 25-year-old is 42% less wealthy.
    • Scott Galloway advocates for tax reform, including eliminating capital gains tax deductions and mortgage interest rate deductions, and a tax holiday for those under 30.
    • He suggests mandatory national service to foster unity among young Americans.
    • Scott believes we should stop transferring wealth from young people to the wealthiest generation.
    • Scott says, “Old people are basically raping our economy for the last 30 or 40 years.” Transcript: Scott Galloway Because every fiscal policy we’ve made over the last 50 years is to transfer money from people Ari’s age to people my age. We have slowly but surely, old people have figured out a way to vote themselves more money. And the average 70-year is 72% wealthier than they were 40 years ago. And the average 25-year is 42% less wealthy. And what do you know? Young people aren’t having kids and are fed up with America. We are constantly over-investing in seniors. Sam Parr But how does that tie to the capital gains? Because don’t older people own the assets that would benefit from no capital gains tax? Scott Galloway No, no, no. I’m sorry. What I mean is they pay current income. They don’t get a tax deduction. It should be Reagan. There should be one income tax rate for all income you make. And by the way, anyone under the age of 30, like Portugal, should have a tax holiday for the first $100,000. We desperately need to level up young people who don’t like America and have mandatory national service such that they start meeting other great Americans. The tax holiday is a great idea. We need to level up. I mean, it’s pretty simple. We need to put more money in the pockets of young people and stop transferring $1.2 trillion from young people to the wealthiest generation in the history of planet, old people. Old people are basically raping our economy for the last 30 or 40 years. It needs to stop. And what do you know? Washington, D.C. Is a cross between the golden girls and the land of the dead, they keep voting themselves more money. $40 billion child tax credit that would benefit young families stripped out of the infrastructure bill, but the $120 billion cost of living adjustment for Social Security flies right Through. (Time 0:23:10)
  • Invest in Boring Businesses
    • Scott Galloway says to join sexy businesses, but don’t invest in them.
    • He prefers to invest in unsexy and boring businesses.
    • Your return on invested capital is inversely correlated to how sexy and cool an industry sounds.
    • He gives an example of being asked to invest in a cool downtown Manhattan musician’s club and declined.
    • He then says he would invest in a SaaS platform for healthcare maintenance scheduling. Transcript: Scott Galloway The sexier it is, I want to join. I won’t get near it with a check. A friend of mine is opening a members club in downtown Manhattan musicians and artists. Sounds amazing. I went great opening party people. I need to be the oldest, least attractive person wherever I am. Then I know I’m at the right place. And this was that. So I join, I’ll join it. He asked me to be an investor. I’m like, no way, no way. Another friend of mine is starting a SaaS platform for healthcare maintenance scheduling. 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. (Time 0:27:15)
  • Invest in Boring
    • Scott Galloway says the less sexy an industry, the greater the return on your human and financial capital.
    • Sam Parr highlights his investment in retail shopping centers, which contrasts with the popular AI investments in San Francisco.
    • Despite the perception that brick-and-mortar stores are dead, Sam’s retail investment has yielded significant returns.
    • Sam’s boring investment has been far more profitable than his venture investments, which generate zero cash flow. Transcript: Scott Galloway I didn’t think I’d be in digital benchmarking or analytics. But yeah, the less sexy an industry, the greater the return on your human and financial capital. Sam Parr I live in San Francisco. And in the last four years, the most sexy thing to be investing in is AI. And my biggest investment has been put millions and millions of dollars into retail shopping centers, which if you walk around San Francisco, anybody here will tell you that’s dead. What are you talking about? People don’t go to brick and mortar stores anymore. I think it’s going to be a great investment. But it’s been phenomenal. Like I’m basically compounding like 44% a year. And I get the tax benefits of real estate and it’s passive. And I don’t like, and it’s like retail, which everyone thinks is dead. There’s I think less than 4% vacancy rates, like nationally. Simon Properties is killing it right now. Nobody builds anymore. It’s just supply constraint. And so, you know, my investor updates are not about AI. It’s about how Burlington Co. Factory signed, you know, extended their 10-year lease and how we just put in a home goods or, you know, like into these centers. And it’s been the least sexy, but the most profitable investment I made. All of my venture investing is giving (Time 0:29:12)
  • Marry the Right Person
    • Be yourself so you can find someone who likes the real you, insecurities and all.
    • Focus on genuinely taking an interest in the other person’s life instead of controlled boasting.
    • Be careful about getting married too young because you change a lot between 22 and 32.
    • Live together before marrying to experience what it’s like to have them as a roommate.
    • Align with them around money before marrying.
    • Put the scorecard away and decide what kind of person you want to be. Transcript: Scott Galloway 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)
  • Be Yourself
    • Early in life, Scott Galloway tried to be someone else to attract romantic partners.
    • He focused on figuring out what others wanted from him, instead of being authentic.
    • The key is to find someone who likes you for who you truly are.
    • The best relationships are with people you can be yourself around and they appreciate you. Transcript: Scott Galloway 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. (Time 0:31:50)
  • Relationship Advice
    • Be careful about getting married young, as you change significantly between 22 and 32.
    • Live together first to understand the dynamics of sharing a space.
    • Align on financial matters to avoid future conflicts.
    • Put the scorecard away and focus on the standards you set for yourself as a partner.
    • Express physical and sexual desire regularly to show your partner they are wanted. Transcript: Scott Galloway 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. Sex says in affection, whether it’s holding a hand or fooling around with your partner in the bathroom at a party, it says, I choose you, I want you. I think women want to be wanted. And I just think that animal instinct expressing desire is super important in a partnership. (Time 0:33:51)
  • Keys to a Successful Marriage
    • Be careful about getting married young because you change so much between 22 and 32.
    • Live together first to understand what it’s like to live together.
    • Align on finances before getting married.
    • Put the scorecard away in your relationship and focus on being the kind of partner you want to be.
    • Express physical and sexual desire to show your partner you choose and want them.
    • Never let a woman be cold or hungry. Transcript: Scott Galloway 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. Sex says in affection, whether it’s holding a hand or fooling around with your partner in the bathroom at a party, it says, I choose you, I want you. I think women want to be wanted. And I just think that animal instinct expressing desire is super important in a partnership. And I think it’s a wonderful thing. I think we’re physical beings. And the third thing is never, ever let a woman be cold or hungry. Pashminas and power bars, you are. Shaan Puri You are just so full of sound bites. Like the best aphrodisiac to give a woman is a follow-up question. (Time 0:33:51)
  • Being a Good Boss
    • Scott Galloway reflects on his past as a boss, admitting he was just okay.
    • He aimed to provide economic security but adopted a flawed Silicon Valley mindset.
    • He observed that being talented and an ‘asshole’ was often misconstrued as genius, influencing his behavior.
    • Now, he realizes the importance of positive reinforcement and the impact of simple gestures like praising someone’s work. Transcript: Scott Galloway Were you a good boss? I think I was just okay. I was good in the sense that I think I created economic security for a lot of people. I was raised in a generation in San Francisco where Steve Jobs is our mentor. And there was this terrible gestalt that infected a bunch of young tech executives, including myself, that if you were talented and nice, you were talented. If you were talented and an asshole, you were Steve Jobs and you were a genius. And so I wasn’t nearly as kind. I was never mean to people, but I wasn’t nearly as kind as I should have been. And what happens when you get older is you realize you have this capital. Sometimes it’s just financial capital. (Time 0:44:35)
  • Offer Help Directly
    • Early in his career, Scott Galloway wasn’t as kind as he should have been to employees, thinking being tough was effective leadership.
    • Now, he realizes the value of using his position to positively impact others, even with small gestures.
    • Instead of just offering help, Galloway now proactively provides it, understanding that people are often reluctant to admit they need assistance.
    • Provide help directly, without making people ask for it. Transcript: Scott Galloway I was never mean to people, but I wasn’t nearly as kind as I should have been. And what happens when you get older is you realize you have this capital. Sometimes it’s just financial capital. You can pay people well. But if you’re a senior level exec and someone they respect, grabbing someone and sending them and pulling them into a room or sending them an email saying, you are outstanding here. I’m so impressed with you. It changes their life for a day. And I never did that shit. And now I do it all the time. I’m trying to catch up. But I also, on the negative side, occasionally would say something stupid in a meeting. And rather than taking them aside and saying, that makes no sense, I would say in the meeting, that makes no sense. And the person would be humiliated. I’m not proud of that. That was not a kind thing to do. But I thought, that’s leadership. I could have been so much kinder. I am now. I try to be really thoughtful and proactive. And I hear about someone getting divorced, and I just call them and say, I’m giving you money. I had a friend of mine who’s fairly famous get arrested a few days ago in Minneapolis. And I’m like, just send me your bank details. Everyone needs money when they get arrested. Like, don’t talk about it. There’s something I’ve learned. Don’t ask people if they need help. Help them. But don’t ask. No one wants to say, yeah, I need help. You’re more powerful than me and I f***ed up and you’re on top. (Time 0:45:05)
  • Life Changes After Moving
    • Scott Galloway described a significant life change when he moved from Manhattan to Florida.
    • He cut his monthly expenses dramatically, reducing his rent from $14,000 to $5,000.
    • This move allowed him to invest more savings into the market and led to overall financial improvement.
    • Galloway emphasized the need for young people to understand the reality of lifestyle choices and living costs. 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 (Time 0:54:44)
  • Make Bold Moves And Pay On Dates
    • Scott bluntly advises men to ‘drink more’ and make bold mistakes early, arguing risk can pay off.
    • He also recommends men pay for dates to demonstrate valor and remove awkwardness. Transcript: Scott Galloway Drink more. Go out. Drink more. Make a series of bad decisions. It might pay off. When you’re in the company of women, you pay for everything always. No woman is ever going to kiss you who splits the check with you. All mammals have a mating process. The downside of sex is much greater for a woman. Her fertility window is much shorter. Men benefit more from relationships. The asymmetry and advantage of going on a date with a woman, one way you restore that asymmetry and demonstrate valor is to pay with absolutely no expectation. It’s just a given. And my kids are like, dad, you’re so boomer. And I’m like, just be clear, no one’s ever going to kiss you who you don’t pay for. Shaan Puri Is that what you said to the woman on your first date when she’s like, oh, no, let’s split it? And you’re like, listen. Scott Galloway I think that is something that TikTokers talk about. I’ve never seen a woman grab for a check. And I know that sounds sexist. I’ve never in my life had a woman pay for anything. And not only that, I like to pay before I get there so it’s not awkward with like nine pages and I can’t read the tip. Shaan Puri That’s a baller move. Scott Galloway Just, we’re done. There’s no expectation. I’m not a John. You’re not a prostitute. But I appreciate your time. I am hoping at some point to have sex with you so I want to demonstrate strength and that I can take care of your kids versus the guy wearing a Casio watch who talks about sending you a Venmo Request. I don’t care what anyone says. One way you demonstrate valor and masculinity, if you can’t pay, I hate it when men split checks. Dude, man the up. You get this one, I get the next one. You don’t split checks. You’re going to make some waiter go back and figure out how to split the check and who’s going to give them 14% or 17%. I’ve done this from a young age. I did not have money until I was in my 40s. If I couldn’t afford to pay, I didn’t go. I didn’t go. (Time 0:56:47)
  • Ego and friendships
    • Scott Galloway’s partner pointed out that his insistence on always paying might be an ego thing.
    • Friends with economic security may perceive it as an assertion of power rather than generosity.
    • True friendships involve vulnerability and the ability to ask for help.
    • Not allowing friends to reciprocate or offer support can create transactional relationships instead of genuine connections.
    • Exposing insecurities and weaknesses fosters deeper bonds. Transcript: Scott Galloway Some nuance here. And my partner reminded me of this. I always pay for every dinner. And she’s like, you realize this is an ego thing and it’s about control. And she goes, I get where you’re coming from, but people who are your friends and also have their own economic security don’t want you constantly asserting your ego and your power over Them by paying for everything all the time. That this is about your insecurity. It’s no longer about your generosity. It’s about your insecurity and trying to express some sort of weird f***ed up dominance. And I got so angry when she said this because I think some of it is true. And the reality is your friends, like I always used to be, don’t ask my friends for it. Once I got success, don’t ask my friends for anything, them advice, help them out. And the reality is that’s not a friendship. Yeah. That’s sort of obnoxious. Shaan Puri That’s like, yeah, that’s like I’m on top. Yeah. Scott Galloway Occasionally you need to call your friends and say, I’m struggling with my marriage. I just got diagnosed with high blood pressure. I’m really upset about it. Your friends want to comfort you. Your friends don’t want to be just your, know, beneficiary. They want occasionally to say, no, I’m doing well. I can pay for dinner. I get that. I think that if you’re not letting occasionally asking your friends for help and being vulnerable and exposing your insecurities and your weaknesses and your anxiety, then you don’t Have a friendship. And what I realized was a lot of it was ego with me trying to, know, thump my chest. I don’t need anyone’s help. (Time 1:00:02)
  • Generosity Can Mask Ego; Ask For Help
    • Scott admits always paying can be ego-driven and warns generosity can become transactional dominance.
    • He says true friendship requires vulnerability and occasional asking for help, not constant one-way giving. Transcript: Scott Galloway I always pay for every dinner. And she’s like, you realize this is an ego thing and it’s about control. And she goes, I get where you’re coming from, but people who are your friends and also have their own economic security don’t want you constantly asserting your ego and your power over Them by paying for everything all the time. That this is about your insecurity. It’s no longer about your generosity. It’s about your insecurity and trying to express some sort of weird f***ed up dominance. And I got so angry when she said this because I think some of it is true. And the reality is your friends, like I always used to be, don’t ask my friends for it. Once I got success, don’t ask my friends for anything, them advice, help them out. And the reality is that’s not a friendship. Yeah. That’s sort of obnoxious. Shaan Puri That’s like, yeah, that’s like I’m on top. Yeah. Scott Galloway Occasionally you need to call your friends and say, I’m struggling with my marriage. I just got diagnosed with high blood pressure. I’m really upset about it. Your friends want to comfort you. Your friends don’t want to be just your, know, beneficiary. They want occasionally to say, no, I’m doing well. I can pay for dinner. I get that. I think that if you’re not letting occasionally asking your friends for help and being vulnerable and exposing your insecurities and your weaknesses and your anxiety, then you don’t Have a friendship. And what I realized was a lot of it was ego with me trying to, know, thump my chest. I don’t need anyone’s help. I just help everybody else. Then you don’t have friendships. You have a series of transactions, but I go back to what I’m saying. (Time 1:00:05)
  • Use Purchasing Power To Send Political Signals
    • Scott launched ResistAndUnsubscribe to pressure tech companies by cutting subscriptions and consumer spending.
    • He argues single-digit millions unsubscribing could impact market caps and push corporate responses. Transcript: Scott Galloway Am horrified by what’s going on in Minneapolis and across our nation. I think there’s an interest between being right and being effective. I want to move to being effective. What I’ve noticed is the Trump administration only walks back things when the markets move, and the fastest way to make the markets move right now is to go after the companies that are 40% of the S&P by unsubscribing from Amazon, from Apple, from Microsoft platforms, from… I have a whole list of what I call ground zero, and then going after and holding the power of the purse from companies providing infrastructure, whether it’s AT&T or Hilton. But I have a site called Resist and Unsubscribe, and I’m trying to convince people that the weapon hiding in plain sight is their spending. 70% of our economy is consumer spending. And if you just, in 2020, the greatest political action in history was the first quarter of 2020, and it wasn’t because hundreds of thousands of people were dying, it was because the GDP crashed 31%. If we can put a dent in the Magnificent Ten’s economic power, the president will hear about that and he will respond. And the fastest way to do that, if you unsubscribe from ChatGPT, they’re trading at 40 times revenues, $240. That’s $10,000 in market cap you take away from OpenAI. If you try to do that with Kroger’s, you would need five families to stop buying all groceries for a year. So go after the soft tissue, and that is tech companies subscription. And you’re going to find, as I did, you have three subscriptions to Anthropic. You don’t need three. I have seven streaming media platforms. I don’t need seven. I was on Amazon One, the healthcare company paying $199 a year. I don’t need that. Unsubscribed February is a great time to take stock of all the money you were spending at the hands of millions of people and billions of capital. They convince you to spend more money than you need. And it sends a message to the markets and the administration. Resist and unsubscribe. Sam Parr And these companies, they are specifically contributing to the problem? Or you’re just saying the whole market has to shake for the administration to move? It’s not that these individual companies did anything wrong. Is that what you’re saying? Oh, no. They’re enabling this bullshit. Scott Galloway When Tim Cook shows up with inscribed hard drives and goes to the Melania premiere, when Jeff Bezos pays $45 million for a documentary that brightens up the room by f***ing leaving it. So you’re picking companies that have kissed the ring is what you’re talking about. These are the enablers. These are the people who’ve said, okay, kiss his ass. I mean, there’s some historical precedents here. In the early 30s, Germany, the captains of the manufacturing industry turned to buy and die to Hitler and the rise of fascism because he said, if you don’t come out against me, they were Very worried about him. I will crush the trade unions and you will make a shit ton of money. There’s an apt analogy here. And that is I get text messages from these guys saying, I hate myself. I don’t want to go to the White House. I’m like, well, I hate you too, because you’re not willing to speak up. And the very values and principles, rule of law, capitalism, competition, free markets that built these amazing companies and made these guys billionaires is under attack right Now. And they don’t want to speak up because they think they’re going to make money. Well, be careful what you ask for, but these are the enablers. And your free gift with purchase, spend less money, send a message to the people who, you know, tell them to put away the knee pads and speak your mind. They probably have to do it collectively because he goes after people who go first. But this is a great way to send a message to the president, to the markets, and to these individuals that what is happening here is un-American, and you are desecrating the values that Made you so goddamn rich. Shaan Puri And earlier you had said you have researchers, and you were talking about your editorial process, and the example you used was like the power of a boycott. When I hear you talk about this, I think my $10 YouTube subscription doesn’t move the needle, but it sounds like you have some data that shows otherwise. Scott Galloway If Microsoft misses its expectations by one percentage point, it loses 10% of its value. Other companies go down in sympathy. The NASDAQ 100 lost one and a half percent in one day. The only time the president has walked back the annexation of Greenland or tariffs is when the markets have moved. How many people do you need to participate for this to matter? The reality is, okay, so these are my objectives. My objectives is to send a signal to the markets and to consumers that they have power with their purchases and that they should be thoughtful about where they spend money and where they Decide not to spend money. I’m trying to assemble infrastructure. Part of my infrastructure is a website that makes it easy for people to unsubscribe from big tech platforms. I would love it if enough people collectively canceled such that all of a sudden, amongst a variety of reasons, the CEOs of these companies say, maybe we should be a little less sycophantic. Maybe we should push back. Is that happening right now? Probably not. I’m getting 100,000 uniques a day to my site. I’m getting thousands of screenshots. But is OpenAI changing its plans because of what I’m doing? Probably not. But here’s the thing as you get older. (Time 1:03:07)
  • Markets React Disproportionately To Small Signals
    • Scott highlights market sensitivity: a one-point miss can erase double-digit market value and move the president politically.
    • He suggests targeting big tech subscriptions as the most efficient way to influence markets. Transcript: Scott Galloway Microsoft misses its expectations by one percentage point, it loses 10% of its value. Other companies go down in sympathy. The NASDAQ 100 lost one and a half percent in one day. The only time the president has walked back the annexation of Greenland or tariffs is when the markets have moved. How many people do you need to participate for this to matter? The reality is, okay, so these are my objectives. My objectives is to send a signal to the markets and to consumers that they have power with their purchases and that they should be thoughtful about where they spend money and where they Decide not to spend money. I’m trying to assemble infrastructure. Part of my infrastructure is a website that makes it easy for people to unsubscribe from big tech platforms. I would love it if enough people collectively canceled such that all of a sudden, amongst a variety of reasons, the CEOs of these companies say, maybe we should be a little less sycophantic. Maybe we should push back. Is that happening right now? Probably not. I’m getting 100,000 uniques a day to my site. I’m getting thousands of screenshots. But is OpenAI changing its plans because of what I’m doing? Probably not. But here’s the thing as you get older. I’m sick of heckling from the cheap seats. I want to be on the field. I want to be doing something. When I was a younger man, I used to take public risks, and now I just get angry at everybody else. So I wanted to do something, but I’ll be honest, it’s gonna take a lot, but it would take less unsubscribing from big tech to have an impact than anything else. And one day protests are powerful, but there’s more symbolic, they’re more cinematic than powerful. I think if single digit millions of people unsubscribed from tech platforms, one, they’d find out that they’re saving a lot of money and spending money where they didn’t think to. And I think these guys would notice. (Time 1:06:50)