00:00:00
I think Patel is all of the incompetence
00:00:03
with none of the stature or bravado. I
00:00:06
just think he looks stupid.
00:00:13
Let's get into today's news. Scott, FBI
00:00:16
Director Cash Patel just filed a $250
00:00:19
million defamation suit against The
00:00:20
Atlantic over an article he called a
00:00:22
quote hit piece. It was not a hit piece.
00:00:25
The Atlantic is calling the suit
00:00:27
meritless. The story is based on
00:00:28
interviews with more than two dozen
00:00:30
current and former officials about
00:00:32
Patel's time at the FBI. It alleges
00:00:34
excessive drinking, frequent absences,
00:00:36
and erratic freakouts, including over
00:00:39
computer signin. There were reportedly
00:00:41
multiple times over the past year where
00:00:43
Patel's security detail had trouble
00:00:44
waking him because he appeared to be
00:00:46
intoxicated. One incident involved a
00:00:48
request for breaching equipment, the
00:00:50
kind a SWAT team use, uh, after Patel
00:00:53
was unreachable behind locked doors. it.
00:00:56
This is all true, everybody. It's
00:00:57
repulsive when you read it. So, what do
00:01:00
you think's happening here? What's going
00:01:01
on? And as to the lawsuit,
00:01:03
>> look, I I think The Atlantic, my sense
00:01:06
is this is thoughtful reporting and his
00:01:09
It seems like his drinking is sort of an
00:01:11
open secret. It's not about alcoholism
00:01:14
in my view. It's incompetence. I I don't
00:01:17
doubt that the alcohol hurts them. But
00:01:18
generally speaking, this is an
00:01:20
incompetent person
00:01:21
>> who has lacks judgment, doesn't show up
00:01:24
for work on time,
00:01:25
>> panics, you know, he's so skittish. He
00:01:29
thinks that he thinks that he's not um
00:01:32
that he's being fired. I don't mind you
00:01:34
drinking during the week night if you
00:01:35
work for me, but be at work the next
00:01:37
morning. And if you're not drinking and
00:01:39
you don't show up at work, it doesn't
00:01:40
matter. It doesn't matter why you aren't
00:01:41
showing up for work. This guy doesn't
00:01:43
appear to be showing up.
00:01:44
>> Right. Right. totally focused on this
00:01:46
was alleging that drinking had a lot to
00:01:47
do with it is he drinks so much he
00:01:49
drinks to excess that he doesn't he's
00:01:51
also it creates a national security risk
00:01:53
which is I think why all these people
00:01:54
are leaking right it's not because
00:01:56
>> they dislike him but he also is a huge
00:02:00
national security risk he's also abusing
00:02:02
his privileges very Christine gnome here
00:02:04
right this is the version of Christy
00:02:06
Gnome and obviously it's sort of who's
00:02:09
going to Christy who's going to take him
00:02:11
down right
00:02:12
>> well I like the idea him and Axather
00:02:14
They're now referred to as the liquor
00:02:16
cabinet. That's a good one.
00:02:18
>> Yeah, there was a good one. They said a
00:02:20
defense secretary, uh, FBI head and a
00:02:25
lead prosecutor go into a bar. Oh, wait.
00:02:28
That happens every day. It was for
00:02:29
Janine Pro is the other one they were
00:02:31
talking about. This group is really kind
00:02:34
of just like so not in control of
00:02:36
themselves. Let me just say the LA the
00:02:37
one thing that really was the most
00:02:39
disturbing in that entire story was that
00:02:41
he then will try to do something to
00:02:43
please Trump. like try to prosecute
00:02:45
people who prosecuted January 6th people
00:02:48
or do election denial. He's going to try
00:02:51
to serve up like a little a little mouse
00:02:53
to Trump in order to save his job. And
00:02:56
the only thing that Trump hates is
00:02:59
drinking cuz his brother was an
00:03:00
alcoholic and died. Um but it'll be
00:03:04
interesting if Trump will not fire him
00:03:06
because of this piece, if that makes
00:03:07
sense.
00:03:08
>> Yeah. My first girlfriend was um Mexican
00:03:12
and an alcoholic and I she used to order
00:03:14
drinks called um and I asked her what
00:03:17
her favorite book was and she said
00:03:18
tequila mockingb bird.
00:03:20
>> Oh my god. Okay. Well, anyway, do you
00:03:23
think Trump will fire him?
00:03:25
>> Very good, isn't it?
00:03:26
>> I think Trump's going to fire he's going
00:03:27
to fire a couple of these people.
00:03:29
>> Three guys walking into a bar. An
00:03:30
alcoholic, a priest, and a child
00:03:31
molester.
00:03:32
>> And that's just the first guy.
00:03:36
>> All right. All right. I need your
00:03:38
thoughts on whether Trump's going to
00:03:39
fire him. All right, we're done with the
00:03:41
drunk jokes. Go ahead.
00:03:43
>> Is he going to fire?
00:03:44
>> Okay. According according to Okay.
00:03:46
>> What did you just What did you just
00:03:49
really
00:03:50
>> Okay, go ahead.
00:03:51
>> Everything. Um I no longer think for
00:03:54
myself. Um so, get this. According to
00:03:58
according to Kelsey, there's now a
00:04:01
something like a 70 or 80% chance that
00:04:05
um Patel is fired by June 1st. The other
00:04:08
one that just blew my mind, which I
00:04:09
would take the over under on or whatever
00:04:11
you call it,
00:04:12
>> that there's about a 70% chance that
00:04:14
Trump is impeached by January 1st.
00:04:17
>> Oh,
00:04:17
>> no. That Trump is impeached.
00:04:19
>> Oh, wow. So these markets are saying
00:04:21
these markets are predicting that um the
00:04:24
wheels are coming off uh the bus here
00:04:26
which you know I find uh really unlikely
00:04:30
here.
00:04:31
>> What does Scott Galloway think? Not
00:04:33
Cali.
00:04:33
>> Oh, Patel's out. But I've thought that
00:04:35
for a while. I think he reflects poorly.
00:04:39
I I think Hagath the president likes
00:04:42
because when He Hagsth gets up on stage
00:04:45
he is so strident. He's very handsome. I
00:04:48
think that uh Trump really values
00:04:50
aesthetics. He's indignant. He's back in
00:04:53
their face. I think Trump really likes
00:04:55
that. And he's very resolute.
00:04:59
Trump doesn't like thoughtfulness. He
00:05:01
likes someone who's resolute. And I
00:05:03
think he kind of likes that sort of
00:05:05
brazen, arrogant approach. I think Patel
00:05:09
is all of the incompetence with none of
00:05:11
the stature or bravado. I just think he
00:05:14
looks stupid
00:05:15
>> and he's making the Trump administration
00:05:17
look stupid. And also it it feels like
00:05:19
and I mean you know this better than me
00:05:21
but it feels like everyone at the FBI is
00:05:24
dying to get on the phone with a
00:05:26
reporter and [ __ ] post Patel. Uh it just
00:05:30
seems like the whole I mean there's
00:05:33
there's been such an I think the two
00:05:35
biggest brand erosions over the last 12
00:05:36
months have been number one the brand US
00:05:39
number two the brand AI. If you think
00:05:41
about what's happened to that brand in
00:05:42
the last 12 months, it's gone from 70 to
00:05:44
80% people being optimistic to like now
00:05:46
it's one in 10 are optimistic.
00:05:49
But the the brand of the FBI, I would
00:05:52
argue the Gmen, you know, the X-Files,
00:05:56
um, these were pe these were people that
00:05:58
put on suits but knew how to handle a
00:06:01
firearm. We're very measured. We're all
00:06:03
about serving in the agency of others.
00:06:05
We're optimized for security, not for
00:06:08
performance. or not for attention. This
00:06:11
was a great job with a ton of prestige
00:06:13
and I think Cash Patel has literally
00:06:14
trashed this brand.
00:06:16
>> He's turned it into a Joey bag of
00:06:17
donuts.
00:06:18
>> Y
00:06:19
>> uh you know, two for one coyote ugly MMA
00:06:22
meets, you know, it's like a it's like a
00:06:25
bar fight minus the charm.
00:06:27
>> Yep. All right. All right. Well, he's
00:06:28
out. I agree with you.
00:06:29
>> What are your thoughts?
00:06:30
>> I think he's going I think this was a
00:06:31
beautiful piece of reporting and I think
00:06:33
they're going to go through the cabinet
00:06:35
with next is Lutnik and his corruption,
00:06:37
right? that's going to and his like
00:06:39
thirsty attention seeking. Anyway, we'll
00:06:42
see. I think there's there's it's a
00:06:43
moment now, especially after Swallwall.
00:06:46
It's a moment for all of them.
00:06:47
>> How does the head of the FBI have their
00:06:50
email hacked by an Iranian group? Right.
00:06:52
>> How does that happen?
00:06:54
>> He's drunk.
00:06:55
>> How does that happen?
00:06:56
>> Cuz he's drunk. Cuz he's drinking too
00:06:57
much. Cuz he's an idiot. Well, idiot and
00:07:00
drunk. He's stupid. You remember the
00:07:01
line from Minimal House? Don't How can
00:07:04
you? Although that was done by Dean
00:07:05
Wormer, but going through life stupid
00:07:08
and drunk is not is no way to live or
00:07:10
something like that. Anyway, that's
00:07:11
>> when someone asked me if when someone
00:07:13
asked me if I ever drink in the morning,
00:07:15
I'm like, "No, cuz I don't wake up till
00:07:16
noon."
00:07:17
>> Oh my god. Okay, enough with the
00:07:18
drinking drugs. Iran is threatening to
00:07:20
retaliate after the US military seized
00:07:22
an Iranian flagged um cargo ship trying
00:07:24
to bypass the blockade in the Straight
00:07:26
of Hormuz. Iran is calling it an act of
00:07:28
piracy. Meanwhile, JD Vance, Steve Whit,
00:07:31
and Jared Kushner are headed back to P
00:07:33
Pakistan for more peace talks, though
00:07:35
it's unclear if Iran will even show up.
00:07:37
Uh, first JD wasn't going, then he was
00:07:39
going, and Trump was saying all manner
00:07:41
of things. Trump's, of course, is once
00:07:42
again threatening to take out Iran's
00:07:44
power plants and bridges, which I know
00:07:46
it feels like Groundhog Day, but he's
00:07:48
doing it again. The ceasefire is due to
00:07:50
end this week. Um, I'll also note energy
00:07:53
secretary Chris Wright thinks gas prices
00:07:55
might stay above $3 until 2027, though
00:07:58
Trump is saying that's totally wrong.
00:08:00
California was six. It was crazy. It was
00:08:03
six or in the mid sixes, which is
00:08:05
because they have more taxes there
00:08:07
obviously. But, um, any thoughts what's
00:08:10
happening here? Because it seems like
00:08:11
again still they still haven't gotten
00:08:13
their act together. This gang that can't
00:08:14
shoot straight.
00:08:17
There's so many things that are bubbling
00:08:19
up in terms of incompetence and
00:08:20
institutions in a general approach to
00:08:22
government that took immense resources
00:08:24
that Americans have taken for granted.
00:08:27
And one of those things is our
00:08:28
incredible diplomatic core. We gutted
00:08:30
the diplomats. We gutted the
00:08:32
anti-terrorist group. So
00:08:35
when you have these summits or peace
00:08:37
talks, 95 to 98% of the work is done
00:08:40
done before the person lands on the
00:08:42
ground. And that's the problem is 0% has
00:08:45
been done here. He might as well. He
00:08:47
This is the most It is so easy to
00:08:49
predict nothing is going to come out of
00:08:51
this. And I was uh you know I I've been
00:08:54
saying that masculinity a decent proxy
00:08:56
for masculinity is are you optimizing
00:08:57
for attention versus service? If so,
00:09:00
that's the opposite of masculinity. That
00:09:03
defines this ridiculous trip to
00:09:04
Pakistan. There's been no diplomatic
00:09:07
work done. He's going to land. He's
00:09:09
going to make an indignant speech. He's
00:09:10
going to look for a Tik Tok moment that
00:09:12
he attempts to make him look make
00:09:13
himself look presidential. He'll make
00:09:16
further irresponsible, incendiary,
00:09:18
unnecessary comments. He'll leave and
00:09:20
nothing will have happened. And you
00:09:23
know, the the only other what I've been
00:09:26
thinking a lot about lately is kind of
00:09:27
the winners and losers here.
00:09:30
Initially, China is a loser because of
00:09:32
the the security threat around not
00:09:34
having the free flow of energy. They are
00:09:36
such a big winner long term because I
00:09:38
was thinking about how does the world
00:09:39
structurally change on the demand side.
00:09:42
You got to think that in addition to the
00:09:43
economic costs of the Straits of Hormuz
00:09:46
being um sequestered or blocked, every
00:09:50
nation in the world must be thinking,
00:09:51
you know, we don't want to be dependent
00:09:53
upon [ __ ] straits that can be
00:09:55
controlled by the IRGC or by Trump.
00:09:57
>> By the way, there's
00:09:59
there's a couple there's a really good
00:10:00
online um thing that was about there's
00:10:03
not just the straits of Hormuz. There's
00:10:04
an area near China that 40% of the
00:10:07
shipping goes through. There's a number
00:10:08
of places around the world where this
00:10:11
happens. the straight of Malikica or
00:10:12
Singapore, the Sewish Canal.
00:10:14
>> Right. Exactly.
00:10:15
>> Freedom of navigation.
00:10:18
Again, see above things we've taken for
00:10:19
granted. Freedom of navigation was
00:10:21
something that had been embraced by the
00:10:23
entire world that said everyone's going
00:10:26
to pay more. Everyone's going to have
00:10:27
insecure energy policy if we don't
00:10:29
enforce freedom of navigation around the
00:10:31
world. But you got to think that every
00:10:33
nation is thinking not only
00:10:34
economically, but from a defense
00:10:35
standpoint, we need to have energy
00:10:38
security. What is all roads and energy
00:10:40
security lead to one place? Renewables.
00:10:43
And let's talk about renewables. The
00:10:45
advanced manufacturing and long-term
00:10:46
thinking of China. Get this. What is the
00:10:50
global share that China controls of
00:10:52
windmill production? Any guesses?
00:10:54
>> No, probably a lot. All of it.
00:10:57
>> A lot. Correct. 60%.
00:10:59
>> Mhm.
00:10:59
>> The percentage of EVs sold glo globally?
00:11:02
>> China.
00:11:03
>> 70%.
00:11:04
>> Yeah.
00:11:05
>> China. the percentage of solar panels
00:11:09
produced in the world
00:11:10
>> drones
00:11:11
>> 80% in China.
00:11:14
>> So while we're sending diplomatic
00:11:16
missions and Canada's announcing they're
00:11:18
divorcing from us because we're an
00:11:20
absentee irresponsible player in the
00:11:22
marriage, China is using advanced
00:11:24
manufacturing to say, "Okay, long-term
00:11:26
everyone's going to start investing in
00:11:27
renewables and we're going to be the
00:11:29
place they come to buy it all." And
00:11:30
they're not only offering the
00:11:32
manufacturing and the products, they're
00:11:33
offering safe distribution. They're
00:11:35
offering financing for these things and
00:11:38
they're saying you can count on us. So
00:11:40
if you don't want to be subject to the
00:11:41
IRGC or President Trump's whims that
00:11:44
day, enter into an economic relationship
00:11:47
with China.
00:11:48
>> Yeah, I agree. I agree. Anyway, it's a
00:11:50
real it's it's just this is this is not
00:11:53
good from a political point of view,
00:11:54
from a world point of view. And a lot of
00:11:56
like there's a lot of very high level
00:11:58
people predicting a real collapse of
00:12:01
lots of of countries in terms of because
00:12:04
of the slowdowns and the problems that
00:12:07
they're just on the edge. I mean the UAE
00:12:10
was asking for some money. This is they
00:12:12
have to solve this yesterday. They
00:12:13
shouldn't have done it in the first
00:12:14
place but now they have to solve it
00:12:16
yesterday because there's a lot of other
00:12:18
c all these countries are
00:12:19
interconnected. Whether you like it or
00:12:21
not MAGA folks, this is how it works.
00:12:24
And you're going to you're going to see
00:12:26
collapses all around if the UAE is
00:12:28
asking for what what do they want? They
00:12:30
need money is really because of the
00:12:31
situation. All these luxury brands
00:12:33
throughout the Middle East and that's
00:12:35
just small small ball. It's like all
00:12:37
these countries are dependent on this.
00:12:39
And so he is reordering the world for
00:12:42
sure, but not in the way that favors the
00:12:44
United States. Uh and of course they're
00:12:46
sending this team of Wickoff. Steve
00:12:48
Wickoff. Honestly, this is not our best
00:12:51
and brightest with Jared Kushner, Steve
00:12:52
Wickoff, and JD Vance.
00:12:54
>> If you want to understand what's going
00:12:55
to happen to negotiate with Wickoff,
00:12:56
just ask how is he going to get his kids
00:12:58
rich? Like what? That's essentially what
00:13:00
is driving
00:13:01
>> such a negotiations. But you brought up
00:13:03
something you brought up something
00:13:04
really important and that it's the UAE
00:13:06
and something that really shocked me. I
00:13:07
was looking at analysis of projectiles
00:13:09
that have come out of Iran. Do you
00:13:11
realize that Iran has shot more
00:13:13
projectiles at the UAE than Israel?
00:13:17
And you know, the UAE really is a model
00:13:20
of what it means to not be the IRGC.
00:13:23
It's they they have built an
00:13:25
unbelievable modern economy. They
00:13:27
respect alliances. They in many ways are
00:13:30
trying to be more progressive around
00:13:32
around civil rights. They have made real
00:13:34
progress around um uh around women's
00:13:38
rights. They are everything that the
00:13:40
IRGC is not. And it's interesting that
00:13:43
of all the nations
00:13:45
um the IRGC has decided to go after the
00:13:47
UAE u most aggressively. That really
00:13:50
surprised me. More projectiles into the
00:13:52
UAE than Israel.
00:13:54
>> But they're asking they said they're
00:13:55
going to be forced to use Chinese money
00:13:57
or other currencies if they don't they
00:13:58
don't get a financial lifeline. This is
00:14:00
just and that's just one country.
00:14:02
There's so many that are just going to
00:14:03
be affected. And then let me just say
00:14:06
lots and lots of people live daytoday in
00:14:09
this country and cannot afford these
00:14:11
prices, these gas prices. And so with
00:14:13
Chris Wright just half-hazardly saying,
00:14:15
I'll stay above three and it's even
00:14:17
above three. It's above four in DC. It's
00:14:19
above like give me a [ __ ] break. It
00:14:21
was six in in this is just these
00:14:24
cavalier [ __ ] And then that that
00:14:26
smiling idiot Kevin Hassid gets on and
00:14:29
acts like it's no big deal. There's
00:14:31
something really broken about these
00:14:33
people that is just doesn't understand
00:14:35
the implications of anything they do.
00:14:37
Anyway, uh we have to go on a quick
00:14:39
break. When we come back, we'll talk
00:14:40
about Joe Rogan's influence on executive
00:14:43
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00:17:00
Scott, we're back with more news. Trump
00:17:02
signed an executive order fast-tracking
00:17:03
FDA review of psychedelic drugs like
00:17:05
psilocybin and I think it's ibogane for
00:17:08
mental health treatment all thanks to a
00:17:10
text from Joe Rogan. Rogan texted Trump
00:17:12
about Ibagain research in reducing
00:17:14
opioid addiction. And the president
00:17:16
immediately replied, "Sounds great. Do
00:17:17
you want FDA approval? Let's do it." The
00:17:19
order directs the FDA to expedite review
00:17:22
of the breakthrough therapy and
00:17:23
encourage data sharing between the
00:17:24
health and veterans affairs department.
00:17:27
Um, you know, honestly, this look,
00:17:30
Rogan's been turning on Trump and this
00:17:32
was a gimme to Joe Rogan. I I as you
00:17:35
know, I talk about psych use of
00:17:37
psychedelics in this series. It's very
00:17:39
promising, but certainly shouldn't be
00:17:40
expedited cuz some some podcaster who
00:17:44
has very not the best information
00:17:47
because they need to do the safety
00:17:48
checks if these things are going to be
00:17:50
good for people. Um, but if I mean, what
00:17:54
would you text Trump for? what would you
00:17:56
like if you could? But this is how it's
00:17:58
done in this country. He texts him, he
00:18:00
wants him back. It's the most thirsty
00:18:03
and thirsty way to get Rogan's approval.
00:18:06
And Rogan is dumb enough to take it and
00:18:09
then shift on these things that he cared
00:18:11
about allegedly war and um the Epstein
00:18:15
things. So the whole thing is just
00:18:17
demented. I thought this was the most
00:18:19
demented thing given how important this
00:18:21
psychedelic research should be taken
00:18:24
throughout this country. your thoughts?
00:18:27
>> Well, I gain is is the there's real
00:18:30
potential here. A Stanford study found a
00:18:32
single Ibagane dose reduced veterans
00:18:34
disability ratings from 30.2 to 5.1 with
00:18:37
effects sustained at least a month out.
00:18:39
>> Almost nine and 10 participants
00:18:41
experienced um a reduction in PTSD
00:18:44
symptoms. Nine and 10 uh decrease in
00:18:47
depression. 8 and 10 reducing anxiety.
00:18:50
So, this has real potential. This is
00:18:54
this is a great move, but here's the
00:18:56
problem. This is
00:18:56
>> they've been running they've been
00:18:57
running this for a year. They could have
00:18:59
done this a year ago, but go ahead. Go
00:19:00
ahead.
00:19:02
>> Well, okay. So, I'm a big believer in
00:19:04
prison reform. I think they're we're the
00:19:06
most incarcerated nation in the world.
00:19:07
And I think that a hugely accreative
00:19:09
move would be uh early prison release
00:19:13
and a review of of people who are
00:19:16
currently incarcerated. And when the
00:19:18
Trump administration decides that it
00:19:20
would be great to have the Kardashian on
00:19:21
boards and she she takes this on as an
00:19:24
issue, they then get a pardon.
00:19:27
>> He does these things, but he doesn't for
00:19:29
political reasons and they're not
00:19:30
systemic in nature. And when it comes to
00:19:32
the when it comes to taking something
00:19:34
from a class 2 or class one drug,
00:19:36
>> I want someone who has domain expertise.
00:19:38
I want correct double blind tests. I
00:19:40
think the again another thing we have
00:19:42
taken for granted here is the good
00:19:45
people at the CDC, our FDA, uh, double
00:19:48
blind studies, doctors with actual
00:19:51
credentials. I mean, they do they do a
00:19:53
really good job. It's been a huge, uh,
00:19:55
benefit to us economically. The drugs
00:19:58
you take are, you know, they they do
00:20:00
mistakes, but you can feel fairly
00:20:02
certain that if you take something
00:20:03
that's FDA approved, it's approved for
00:20:05
>> it's also too slow. absolutely too slow
00:20:08
on these therapies, but they're still
00:20:10
early. And the fact that this very not
00:20:14
smart podcaster who's very lovely in
00:20:16
some ways and nutty in some ways and but
00:20:18
doesn't operate in a factual environment
00:20:20
all the time is getting to get this
00:20:24
because he's was mean to Trump and was
00:20:26
turning on him and then for the next
00:20:28
couple of months he'll be nice to Trump,
00:20:30
right? The whole thing is just grotesque
00:20:33
in the This is not how we need
00:20:35
>> health policy.
00:20:36
>> This is not health policy. That's
00:20:37
correct. It's not legal policy. It's
00:20:41
it's it's purely political. And for
00:20:42
Rogan to get used like this on an
00:20:44
important issue, maybe if it's important
00:20:46
to him, he should demand that Trump not
00:20:49
not just cuz he can go to the Oval
00:20:51
Office and hug Trump, but it's just just
00:20:53
oh god, it could hurt veterans if it's
00:20:56
not done correctly. The whole Yay. Just
00:21:00
And it's, by the way, it's also going to
00:21:01
take this.
00:21:03
>> It's also going to take forever anyway.
00:21:05
>> Let's play the game. Let's be
00:21:07
increasingly mean and grow our platform
00:21:09
10x. And then what is the one thing you
00:21:11
want from Trump? What is the one policy
00:21:13
you would want from Trump?
00:21:14
>> $25 minimum wage.
00:21:17
>> Oh, I love that.
00:21:18
>> Universal health.
00:21:19
>> I love that.
00:21:21
>> Child care. Universal child care. All
00:21:23
those things. Any of those.
00:21:24
>> Check. Check. Check.
00:21:26
>> Mhm. What about you? Besides,
00:21:29
>> besides like a missile,
00:21:33
>> um, uh, I would want
00:21:37
mandatory national service.
00:21:39
>> Oh, I like that.
00:21:40
>> Um, distribution of GLP1 to any
00:21:44
household with less than $50,000
00:21:47
>> in household income
00:21:49
>> with good medical stuff attached to it,
00:21:51
nutritional.
00:21:53
>> That's right. and uh incremental like
00:21:56
you said, singlepayer
00:21:58
um health coverage and oh gosh, I could
00:22:01
I could I mean
00:22:03
>> I could go on and lower the estate tax
00:22:05
exemption to 1 million. There's going to
00:22:07
be $72 trillion in wealth passed on.
00:22:09
We're not a dynastic population. We're
00:22:11
meritocratic population and we need to
00:22:13
tax
00:22:14
>> inherited wealth.
00:22:15
>> Really?
00:22:15
>> Anyways, I got about another 15.
00:22:17
>> Okay. Well, there we go. We're not We
00:22:19
don't have his I know. Actually, I could
00:22:20
probably get Trump's cell phone.
00:22:22
>> Let's get on it. Let's be a pain in the
00:22:23
ass.
00:22:23
>> I'm serious. Why don't we do an
00:22:24
experiment? Say, "This is Scott
00:22:26
Galloway. I would like you to do an
00:22:27
executive order on Young Men or whatever
00:22:29
the [ __ ] you want. I'm going to get his
00:22:31
cell phone. You're going to text him."
00:22:32
Okay, you're doing it.
00:22:34
>> I think it's getting I think it's
00:22:35
getting the wiring information of
00:22:37
someone in his family and sending a few
00:22:39
million dollars. I'm serious. I think
00:22:41
there's a direct pipeline. I've heard
00:22:44
>> I've heard from cred credible resources
00:22:46
around around specific things around
00:22:49
pardons and trying to get funding for
00:22:51
certain things that there's an entire
00:22:53
infrastructure consultants who launder
00:22:56
the money get it to the Trump
00:22:57
administration and you get [ __ ] passed.
00:22:59
This is and to be clear what they would
00:23:02
say is this has always been going on.
00:23:04
We're just more we're less we're more
00:23:05
transparent about it.
00:23:06
>> No, not like this. I'm going to get his
00:23:09
number. You're going to text him. Okay.
00:23:10
That's what we're doing this week. Okay.
00:23:12
Um,
00:23:12
>> I was invited to the UFC fight at the
00:23:14
White House.
00:23:14
>> You need to go. You need to go. You need
00:23:16
to say yes. I just
00:23:17
>> You need to cidle up to him and like
00:23:20
>> pet him.
00:23:21
>> I don't like watching young men beat
00:23:22
each other up.
00:23:23
>> I don't look at that part. Just go pet
00:23:24
Trump. That's what you need to do and
00:23:26
get universal healthcare for everybody.
00:23:28
>> You need to do it. You need to go in
00:23:30
there. I They're not inviting me. Even
00:23:32
though Did you hear about this study?
00:23:34
This this thing,
00:23:36
>> the influencers.
00:23:38
>> Oh. Oh, it's really interesting. So,
00:23:40
there's a poll that Ipsos did um about
00:23:43
influencers essentially and um I am the
00:23:46
most purple. I first of all, I'm in the
00:23:49
top influencers, which is weird. I'm up
00:23:50
there with Candace Owen and Tucker
00:23:52
Carlson and all manner of people, but
00:23:54
I'm the most purple.
00:23:56
>> You're the most centrist.
00:23:58
>> Yes. I don't think the word is I think
00:24:00
it's independent. Like I I don't know
00:24:03
cuz they don't all agree, right? But in
00:24:05
terms of impact shock, I'm shocked that
00:24:07
I was even in these lists, but
00:24:09
independence love Swissard. It's weird.
00:24:12
It's so weird. But it's good. Good.
00:24:14
That's very exciting.
00:24:15
>> Which means that I should be at the OC
00:24:17
fight cuz I'd actually enjoy it. But you
00:24:19
need to go.
00:24:19
>> You're an influencer. We got to take you
00:24:21
to Coachella and just have you take
00:24:22
pictures and not enjoy the music.
00:24:23
>> I'm surprised you didn't go to
00:24:24
Coachella. But listen, this is what you
00:24:27
have to do. You have to take one for the
00:24:28
team or you're going to You also have to
00:24:29
text Trump because he's not taking my
00:24:31
texts even though I am the person who's
00:24:33
the most represents the independents
00:24:35
apparently, which is ridiculous cuz I'm
00:24:37
really liberal.
00:24:38
>> Influence.
00:24:39
>> Yeah, but I'm really liberal, which is
00:24:40
kind of funny. Um, all right. The NSA is
00:24:43
using Anthropics uh mythos even after
00:24:45
the Department of Defense called the
00:24:47
company a supply chain risk. Um,
00:24:49
Anthropic CEO Dario Emodi met with the
00:24:52
White House officials on Friday to work
00:24:54
towards a compromise to bring the
00:24:55
company's technology back to government
00:24:56
use. Both sides described the meeting as
00:24:58
productive. However, when President
00:25:00
Trump was asked about Emod's visit, he
00:25:01
said he had no idea about the meeting.
00:25:03
He was meeting with Susie Wilds. If a
00:25:05
compromise is reached would likely
00:25:06
exclude the Pentagon because Pett Heath
00:25:09
is a [ __ ] and so is Emil Michael who
00:25:12
works for him. Um, so it's again it's
00:25:15
like everyone everyone I have talked to
00:25:17
in the other departments think the HEG
00:25:20
thing is insane and that they want to
00:25:23
use it because it's a better model. So
00:25:24
the NSA wants to use it um and
00:25:27
everything else. And it's just it's kind
00:25:29
of ridiculous that Amodi has to go hat
00:25:31
in hand to deal with these children. And
00:25:34
by the way, over at Open AI, more kind
00:25:36
of problems. The company lost three
00:25:38
executives on Friday. The leader of the
00:25:39
defunct Sora, the VP of Open AI for
00:25:42
science, who used to work for Twitter,
00:25:44
Kevin Wild, and the company's CTO for
00:25:47
B2B applications. Um, so they're losing
00:25:51
there's a lot of it's more it's more um
00:25:54
dramatic than Google back in the day or
00:25:56
Twitter. It just it's really quite a
00:25:58
dramatic little company. Um, so any
00:26:01
thoughts on anthropic or open AI again?
00:26:04
>> Well, you know, history or the world
00:26:08
hates a vacuum and one of the biggest
00:26:10
vacuums or voids right now that's
00:26:12
creating chaos is the vacuum around
00:26:13
regulation and guardrails around AI. And
00:26:16
when Dario Emote, who is supposed to be
00:26:19
head of a private company charged with
00:26:20
just using every tool in his toolkit
00:26:22
possible to create leverage and margin
00:26:25
for shareholders, gets so worried about
00:26:27
something that he pulls it back and I'm
00:26:29
not, you know, and says he's only going
00:26:30
to give it to JP Morgan and Apple, you
00:26:32
know, the good guys. Um, and you'd like
00:26:35
to think he's sincere about it and he's
00:26:38
generally concerned, but he shouldn't be
00:26:40
making those calls. If we're trusting or
00:26:43
hoping that the US and existential
00:26:44
threats are going to be dependent upon
00:26:46
the kindness and wisdom of CEOs, we are
00:26:48
[ __ ] because these people have so many
00:26:51
incentives and pressure to just deliver
00:26:54
value.
00:26:54
>> I was with some people and they're like,
00:26:55
"Amod's good." I'm like, "It's a low
00:26:57
[ __ ] bar." And I don't still don't
00:26:59
want him to decide. And still, you know,
00:27:02
even at this point anyway,
00:27:05
But in the one of millions of text
00:27:07
chains that get copied on between you
00:27:08
and Rom, I was going to suggest to Rahm
00:27:11
and any other Democratic presidential
00:27:13
candidate, I was actually going to uh
00:27:15
for some reason I think John Oaf is and
00:27:17
you wrote about this is giving off real
00:27:19
presidential energy right now. But I
00:27:20
think the opportunity among a Democratic
00:27:23
candidate right now quite frankly is to
00:27:24
have a very thoughtful get some
00:27:26
academics together and have a very
00:27:27
thoughtful
00:27:29
10page or less summarized in a one or
00:27:31
two page cover um summary is uh
00:27:36
regulation for AI. Do you realize no
00:27:38
one's even proposing what it would mean?
00:27:41
What does it look like? How do you
00:27:43
regulate it? What is it about security?
00:27:45
Is it about privacy? Is it about how do
00:27:48
you thread the needle between regulation
00:27:50
and also m letting our thoroughbreds run
00:27:52
such that China does not get out ahead
00:27:54
of us which is a legitimate concern. Who
00:27:56
running for president i.e. You know,
00:27:59
everyone has put out anything thoughtful
00:28:02
that has said, I mean, Senator Warner
00:28:05
has put out something with Senator Holly
00:28:07
about retraining and trying to support
00:28:09
job destruction, but no one has really
00:28:12
put out a thoughtful, you know, 3, five,
00:28:14
12point plan on this is what we should
00:28:17
implement immediately in by executive
00:28:19
order that lets the economic growth run
00:28:22
mostly. It'll cost some economic growth,
00:28:25
but gives people some level of certainty
00:28:27
that the government has some feel around
00:28:30
the risks here and outlines them. But
00:28:32
there's nothing right now. It's just the
00:28:34
wild west. And that vacuum is being
00:28:35
filled by a bunch of arguments, virtue
00:28:38
signaling, false signals, comms
00:28:41
releases, press releases. So the vacuum
00:28:44
is being filled by chaos around
00:28:46
something that people aren't sure. Is it
00:28:49
a big threat? Is it is it not? And it
00:28:51
really hurts the industry cuz see above
00:28:53
>> it's gone from nine and 10 people being
00:28:55
optimistic about this to one in 10.
00:28:57
>> Yeah, they've really [ __ ] it up. And
00:28:58
it's not the fault of like me
00:29:00
complaining that I I got that from one
00:29:02
of them. It's like it's cuz you're so
00:29:04
negative. I'm like get the [ __ ] out of
00:29:05
here. Like it's not our fault. You I
00:29:08
said that. That's what I actually said.
00:29:09
>> I'm an influencer.
00:29:11
>> I'm in a big in the indies agree with
00:29:13
you're right. It's worse by the way.
00:29:15
>> Influencer.
00:29:16
>> But um it was so weird.
00:29:19
Anyway, um it's just they have done it
00:29:22
to themselves. They've done it to
00:29:24
themselves because they're so and you
00:29:26
know what drove me crazy then you get
00:29:28
not this this isn't isn't an AI company
00:29:31
but it's all stuck in there Palanteer
00:29:32
posting its manifesto on X over the
00:29:34
weekend which one outlet it was points
00:29:37
from Alex Karps the CEO's book the
00:29:39
technological republic one outlet
00:29:41
likened it to the ramblings of a comic
00:29:43
book villain and the points include
00:29:45
postwar neutering of Germany and Japan
00:29:47
must be undone I mean it's already been
00:29:49
undone you dumbass we should applaud
00:29:52
those who attempt to build where the
00:29:54
market failed to act and we must resist
00:29:56
shallow temptation of vacant and hollow
00:29:58
pluralism. The whole thing is just so I
00:30:01
need them to shut up. I need all the AI
00:30:04
people to shut up even the good ones and
00:30:06
just like like put in good things in
00:30:09
place because they literally have they
00:30:11
keep shooting themselves in the foot
00:30:13
about a technology that's possibly
00:30:15
dangerous, possibly amazing and
00:30:18
everybody hates it, right? Everyone
00:30:20
who's normal hates it, not them. And
00:30:22
then they blame us for that. So
00:30:25
>> yeah, I don't get it. I know I I
00:30:26
consider myself an influencer, but I
00:30:28
suffer from paranoia. I believe that
00:30:30
nobody is following me.
00:30:32
>> Can I ask you if you went in there to
00:30:33
them? They said, "Scott Galloway, we
00:30:36
need we need you to fix this. What would
00:30:39
be your first three moves? Mr. Brand,
00:30:41
we're having you in. We're paying you a
00:30:43
bajillion dollars." Because they have
00:30:45
>> Yeah. The AI companies are like, "Look,
00:30:47
>> AI
00:30:48
>> people [ __ ] hate us."
00:30:49
>> Yeah. I'd want to I'd want to
00:30:50
>> three things
00:30:51
>> I'd want to assemble a list of
00:30:53
technologists, ethicists, and economic
00:30:56
adviserss. And I'd want I would demand a
00:30:58
30-day uh period where no model, no
00:31:01
updated model is ever released without
00:31:02
thorough review that that AB tests the
00:31:05
[ __ ] out of the thing in terms of
00:31:06
existential risks. And it has if the FD
00:31:10
if it takes [ __ ] a decade to get a
00:31:12
drug through the FDA,
00:31:13
>> right? Exactly.
00:31:14
>> Why wouldn't we mandate that the
00:31:15
government gets to play with any new
00:31:17
model for 30 days?
00:31:18
>> Mhm. and then says, "We have found that
00:31:20
this could absolutely hack the NSA or
00:31:23
even our nuclear launch codes."
00:31:26
>> So, you need to tweak the following
00:31:27
things. We're going to assemble a blue
00:31:29
ribbon panel. Anyone on this panel
00:31:31
>> will be paid a lot of money, have
00:31:33
tremendous prestige, and by the way, for
00:31:35
3 years, there's a sunshine period, and
00:31:36
you cannot go on the board of any of
00:31:37
these companies because we don't want
00:31:39
you trading off speaking engagements in
00:31:42
and stock options for security. But at a
00:31:45
minimum, we should have a 30-day
00:31:48
screening blue, you know, blue ribbon
00:31:50
panel that includes Europeans, that
00:31:52
includes G6 nations, that includes stock
00:31:54
market analysts and say, "Okay, there
00:31:56
has to be a balance between safety and
00:31:58
economic growth." Instead, it's just
00:32:00
like put it out there and see what
00:32:02
happens.
00:32:02
>> I know. What from a marketing, if you
00:32:05
were doing an ad, what would it be? We
00:32:07
know we suck or what?
00:32:10
>> What what's the message
00:32:11
>> for for
00:32:12
>> for the AI companies?
00:32:16
Oh, but here's the bottom line, Cara.
00:32:17
The markets love a winner. The the worst
00:32:19
thing that's happening to Sam Alman
00:32:21
right now is he's proving himself to be
00:32:22
a not a great CEO and he's let Anthropic
00:32:26
literally leaprog him. The markets are
00:32:28
immoral. Open uh Anthropic is going to
00:32:31
get out at a trillion dollar plus
00:32:32
valuation because it is executing like
00:32:34
no one's business and Co-work is on
00:32:37
fire. They are doing such a great job. I
00:32:40
think Daario is managing his brand
00:32:43
fairly well. I think if I were Daario
00:32:45
and I think he's going to do this given
00:32:46
that he god I can't imagine has much on
00:32:48
his own plate. I would I would almost I
00:32:51
don't want to say circumvent the
00:32:52
government but I would be putting
00:32:53
together an industry consortium across
00:32:56
all of them and saying these are our
00:32:58
recommendations.
00:32:59
>> Yeah.
00:32:59
>> And even critics trying to thoughtful.
00:33:03
>> Yeah. I will
00:33:04
>> I would also offer a bunch of LLMs for
00:33:06
free to researchers and academics and
00:33:08
say have at it. We think this could cure
00:33:10
cancer. Have at it.
00:33:11
>> Yeah, I have to say I I do like I I
00:33:14
think he's messaging well, but he never
00:33:16
comes up with solutions. Like he just
00:33:18
tells us it's all falling apart. So, you
00:33:20
know, David Saxs went after him this
00:33:21
week for being too negative. And I don't
00:33:23
think he is. I just think he while he's
00:33:26
offering these scary scenarios, he needs
00:33:28
to say, "Okay, here's what we can do."
00:33:30
Like, he doesn't do that enough. That's
00:33:32
my that's my that's what I would say
00:33:34
about him.
00:33:34
>> But why wouldn't they why would they
00:33:36
coordin I mean, they have a lot of
00:33:37
money. Why wouldn't they take, I don't
00:33:39
know, a billion dollars and start a
00:33:40
center of Berkeley and say this center
00:33:43
is going to be focused on
00:33:45
>> on um incurable diseases and we're going
00:33:49
to we're going to give them all the
00:33:50
models for free. We're going to get
00:33:52
we're going to give them compute
00:33:53
inference. And a lot of people would say
00:33:54
no, it's the profit motive, but just
00:33:57
from a I don't want to sound a
00:33:58
perception standpoint, but why wouldn't
00:34:00
you say we're we're we're starting a
00:34:03
center for diplomatic prevention of
00:34:05
conflict using AI?
00:34:07
>> They could just do so many interesting
00:34:09
things concerned about the
00:34:11
>> but yeah, their their brand is really
00:34:13
bad. And listen, Dario is going to be
00:34:15
dragged down with the rest of them if
00:34:16
they don't do something about it.
00:34:17
>> Every journey is the same from Anakin
00:34:19
Skywalker to Darth Vader. We think
00:34:21
they're the ones that are going to save
00:34:22
us, that they should be president. And
00:34:24
then we find out like the rest of them,
00:34:26
their job is to do do and say whatever
00:34:28
will get their share price
00:34:29
>> of clay, feet of clay.
00:34:33
>> There you go. It's a it's the villain's
00:34:34
journey. They always end up a Bond
00:34:36
villain. And I like Dario. I don't know
00:34:38
him personally, but I think he's made a
00:34:39
series of really good moves. He's
00:34:41
clearly an outstanding CEO. But here's
00:34:43
an easy prediction. in 24 months we'll
00:34:45
hate him too
00:34:47
>> because we we will fall into the trap of
00:34:49
believing that these people are
00:34:51
responsible for our well-being.
00:34:53
>> They're not. They're responsible for
00:34:54
shareholder value and that comes at a
00:34:56
cost and when no one's home see above
00:34:58
that void.
00:34:59
>> Yeah, but brand declines.
00:35:00
>> Who is proposing anything resembling AI
00:35:02
regulation right now?
00:35:03
>> Well, they say it and then they it's a
00:35:04
one-off kind of thing. Anyway, they do
00:35:07
say it. They do say it.
00:35:08
>> What would you do? What would you want
00:35:09
to see? I would I would put I think
00:35:12
that's I actually hadn't thought about
00:35:13
it, but I would not not ads saying how
00:35:16
good we are. I would have an well I you
00:35:19
know I had a back and forth with Dario's
00:35:21
people. I'm going to see him this week.
00:35:22
Um but one of the one of the things I
00:35:25
said is you're doing all these soft
00:35:26
interviews. Do some [ __ ] hard ones.
00:35:28
Like and I was of course pitching for me
00:35:30
but you know like get out there and do
00:35:33
some like do a lot. And it doesn't have
00:35:35
to just be him. It has to be a lot of
00:35:37
people. like instead we're doing you
00:35:40
know Sam Alman's sort of had a series of
00:35:42
bad interviews but it's got to be a
00:35:44
broader discussion among a lot more
00:35:46
people right and demand that your
00:35:47
critics are right in front of you and
00:35:49
don't wilt when a critic says something
00:35:52
um instead of like they just they just
00:35:55
they just don't want bad news and it
00:35:57
doesn't matter people hate them they
00:35:58
really hate them and so look at the
00:36:00
polls look at young people I mean it's
00:36:02
just the brand destruction is going to
00:36:05
take them all down and and there's so
00:36:07
any promising things with AI? I mean,
00:36:08
look what happened to Reese Witherspoon
00:36:10
this week. I got slammed cuz I said,
00:36:12
"What was she saying?" That was cuz they
00:36:14
thought she was being paid by Chad GPT
00:36:16
or Charles Porch or whatever it happened
00:36:17
to be. But did you see all that like cuz
00:36:20
she was saying women need to
00:36:21
>> I didn't understand why she got so much
00:36:23
hate for that
00:36:24
>> cuz they thought it was an ad. I think
00:36:25
that they and maybe it was. I don't
00:36:27
really care. What she was saying was
00:36:28
accurate. It doesn't I mean they said
00:36:30
she's bought and paid for and she must
00:36:32
be getting money cuz she has Blackstone
00:36:34
money through the whatever. Honestly, it
00:36:37
was so innocuous and people cuz she does
00:36:40
books and so all the people it just was
00:36:43
it was innocuous what she said.
00:36:44
Seriously innocuous and I got slammed
00:36:46
for I wasn't really even defending her.
00:36:48
I'm like, what is she saying that's so
00:36:50
weird? Even again, even if she was paid,
00:36:53
I don't think it was the message was the
00:36:56
a bad one. But I guess and then
00:36:58
everybody's like, well, I'm not going to
00:36:59
use AI. So there. And I'm like, well,
00:37:02
don't then. What do you want? But if you
00:37:03
if you care about where it's going, you
00:37:05
need it's like in the early internet,
00:37:07
there were all these people who said,
00:37:08
I'm not using the web. I'm like, knock
00:37:11
yourself out. But it's it's happening,
00:37:13
my friends. Don't turn on that flash
00:37:15
that electric light. I I don't care.
00:37:18
It's just Anyway, it's a bad there's a
00:37:20
lot of rage. There's the rage at her was
00:37:23
in insane I thought. Anyway, um let's go
00:37:26
on a quick break. When we come back, uh
00:37:28
why Netflix stock plummeted after its
00:37:30
latest earnings. I'm eager to hear what
00:37:32
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00:39:58
Scott, we're back with more news.
00:40:00
Netflix is out with its first earnings
00:40:01
report since walking away from the
00:40:03
Warner Brothers deal back in February.
00:40:04
The company beat expectations on revenue
00:40:06
and earnings driven by membership
00:40:08
growth, ad sales, and higher
00:40:10
subscription prices, plus that $2.8
00:40:12
billion breakup fee. Thanks, uh,
00:40:14
Ellison's. Thanks Paramount. But the Q2
00:40:16
forecast was below analyst expectations.
00:40:19
It sent shares down 10%. The earnings
00:40:22
also came with a few announcements. A
00:40:24
deeper push into AI and the launch of a
00:40:27
Tik Tok-like vertical video feed within
00:40:29
the app. They're trying to do a lot
00:40:30
more. AI makes total sense in that
00:40:32
regard. And notably Netflix co-founder
00:40:34
and chairman of the board Reed Hastings
00:40:36
is leaving the company when his term
00:40:37
expires in June. He wants to do a lot of
00:40:39
other things. Um talk first about the
00:40:42
earnings. We're going to get into the
00:40:43
Netflix's podcast plans in a in just a
00:40:46
second. Um, I can go over what they're
00:40:49
doing, but why don't you talk about the
00:40:50
earnings himself? And by the way, can I
00:40:51
just take a moment? I met Reed Hastings
00:40:53
right at the beginning of this company
00:40:55
and I have known him for a long time. I
00:40:57
got to say an amazing entrepreneur. What
00:41:00
he did and shifted deserves enormous
00:41:03
credit and he was the real engine. And
00:41:05
Ted is doing a great job. So is Bella
00:41:07
Bajaria. So are the new people there.
00:41:09
But Reed Hastings is a one is a
00:41:12
generational uh entrepreneur and
00:41:14
congratulations on your tenure.
00:41:16
>> Yeah, agreed. Uh look, the earnings were
00:41:19
uh fantastic. Their revenue was up 16%
00:41:23
year-over-year, beating expectations.
00:41:26
Their earnings uh was nearly double what
00:41:28
analysts expected. There was a bit of a
00:41:31
sugar high though because of the $3
00:41:33
billion termination fee from the
00:41:34
collapse Warner Brothers deal. What
00:41:37
shocked me was the ad tier now drives
00:41:39
over 60% of new signups in ad supported
00:41:41
markets. And
00:41:44
>> uh they're they're on track to hit $3
00:41:46
billion in ad revenue this year. So now
00:41:48
they're becoming a big media player, ad
00:41:50
supported media player with a business
00:41:51
that barely even existed two years ago.
00:41:54
And the fullear guidance held at about
00:41:56
51 to 52 billion, but uh Q2 guidance of
00:42:00
13% growth came in below what the bulls
00:42:02
wanted to see. So I think that I guess I
00:42:06
I looked at these earnings. I mean this
00:42:07
is the weird and the beautiful thing
00:42:09
about the market. If I'd seen these
00:42:10
earnings before the market's reaction, I
00:42:12
would have guessed the market would be
00:42:13
flat to up. So I don't know if they're
00:42:16
taking Reed's departure as a signal this
00:42:17
is no longer a growth company or that
00:42:19
that just some air was coming out of the
00:42:21
stock. Um I don't get it. I don't you
00:42:25
know I there was some speculation that
00:42:27
Reed was leaving because of the botched
00:42:28
Warner Brothers deal. I think that's
00:42:29
[ __ ] But I think like you said, he
00:42:31
just wants to do different things.
00:42:33
>> He has a lot of
00:42:34
>> the stock was up 18% year to date
00:42:36
heading into the print. Now it's just up
00:42:38
7% but that's not bad. The I did meet
00:42:42
with Ted Sarandos two years ago and I
00:42:44
told him I thought they should launch a
00:42:45
Tik Tok competitor because the long tale
00:42:49
of Netflix content doesn't get viewed
00:42:51
very much.
00:42:52
>> Yeah. And I thought have an open-source
00:42:54
opportunity for artists and creators to
00:42:56
slice it up and it would be incredible
00:42:58
marketing and I think they could have a
00:42:59
viable competitor to Tik Tok
00:43:01
>> and at that point
00:43:04
by the way
00:43:05
>> it looks like they're getting into the
00:43:06
business. um they're launching a Tik Tok
00:43:09
style vertical video feed this month and
00:43:12
YouTube has 13% of all US TV viewing
00:43:15
versus Netflix at 9% but YouTube shorts
00:43:18
has grown 186% in 15 months with shorts
00:43:22
on connected TV accounting for part of
00:43:24
their growth and then Meta recently
00:43:26
announced that Reals for TV
00:43:29
uh
00:43:31
they're doing Reels for TV where users
00:43:33
can watch short form content on
00:43:34
television and Reels already has a 50
00:43:37
billion ion dollar annual run rate in ad
00:43:38
revenue. That's more revenue than WBD
00:43:40
and NBC Universal combined. And
00:43:43
basically everyone now, 95% of consumers
00:43:45
now watch some some form of short form
00:43:47
video.
00:43:47
>> Cara Swisser, don't you?
00:43:49
>> Oh, I I I hate to admit it, most of
00:43:52
people ask me what my media sources
00:43:53
were, and I used to say the FT and the
00:43:54
Economist to sound smart. The bottom
00:43:56
line is I'm getting most of my content
00:43:58
from short form video right now.
00:43:59
>> Me, too. Me too.
00:44:00
>> And time spent watching video content on
00:44:02
social media has more than doubled since
00:44:04
the pandemic. and Meta's revenues have
00:44:07
nearly tripled and Tik Toks have grown
00:44:08
10fold. So I think that what what
00:44:12
Netflix has is they have proprietary
00:44:14
content. So proprietary content that's
00:44:17
not user generated but useredited.
00:44:20
What could you do? There's some been
00:44:22
some amazing Netflix content that never
00:44:24
bubbles up and never gets seen. Put it
00:44:26
out and say, "Guys, have at it. Slice it
00:44:30
into twominute things. Create new
00:44:31
stories. Add in different effects. add
00:44:34
in different humor, different subtitles,
00:44:36
have added I my what I pitched what I
00:44:40
pitched um uh uh Ted, I'm like, start
00:44:43
something called Net Vibes and basically
00:44:45
say it's a Tik Tok competitor with all
00:44:46
the proprietary content of the longtail
00:44:48
stuff
00:44:49
>> and 90% that gets 2% of your viewership
00:44:52
time.
00:44:53
>> Why did you just give away that great
00:44:54
name? That was really good. You're
00:44:56
talented.
00:44:57
>> That was good. You said two very smart
00:44:59
things today. It's
00:45:00
>> I have to tell you,
00:45:01
>> it's because I was under I was under the
00:45:02
influence. Anyways, but Ted just sort of
00:45:05
rolled his eyes and said, "Why would we
00:45:06
do that when Tik Tok is such a great
00:45:08
marketing engine for us right now?" But
00:45:10
it looks like they're saying, "Okay, we
00:45:12
no longer we need we need a growth
00:45:14
story." I think this is a great idea. I
00:45:17
think they're doing it. And with the
00:45:19
case of Netflix, the second mouse may
00:45:20
get the cheese here. I think it's a
00:45:22
great idea for
00:45:22
>> Oh, interesting. All right. So, I'm
00:45:23
going to let me just tell you the second
00:45:25
thing is they're going all in on
00:45:27
podcast, which is interesting. Um, and I
00:45:30
have a lot of information about this
00:45:31
because I immediately started looking
00:45:32
into it. Netflix has announced five more
00:45:35
shows coming to its platforms. These are
00:45:36
exclusive shows, including a new weekly
00:45:38
interview show with Brian Williams. Hulu
00:45:40
has also announced four more podcasts,
00:45:42
including Handsome and three others
00:45:43
based on TV shows. Hulu's um is not as
00:45:47
strict um as Netflix. Netflix requires
00:45:50
the shows to forego YouTube entirely and
00:45:53
Hulu does not, it looks like. Um, so
00:45:56
this is really interesting. So I asked
00:45:57
what the deals were and someone said
00:45:58
deal structure looks like this. Episodic
00:46:01
fee lowend of 25k an episode averaging
00:46:04
average range 50 to 75k an episodes
00:46:07
higher celeb for celeb talent. Uh
00:46:10
production budget on top 6 to 12 month
00:46:14
initial terms with 206 to 52 episodes
00:46:17
depending on term length ownership
00:46:19
Netflix but sometimes they are given um
00:46:23
uh revision rights reversion rights
00:46:26
excuse me. So, IP maybe if they're
00:46:28
making them. Um, I wasn't tremendously
00:46:32
impressed with the choices they made. I
00:46:34
like Brian Williams, but it seems like
00:46:36
they should really go for a much more um
00:46:39
younger demo, I guess, or more online
00:46:42
demo, influencer demo, but that was just
00:46:44
me. Um, what are your thoughts here?
00:46:46
What do you think? That's a lot of
00:46:48
money. 50, you know, if you got $50,000
00:46:50
an episode, that's that's a buttload of
00:46:52
money. 2.5 million. Well, we've been
00:46:55
talking in our own book, but it doesn't
00:46:56
mean I don't believe it. Every political
00:46:59
cycle, there's a technology uh Obama
00:47:03
weaponized search, um Trump, Facebook, I
00:47:07
would say the second one was about
00:47:08
social. A lot of people would say this
00:47:10
is now these midterms are going to be
00:47:11
the AI midterms with a ton of
00:47:12
misinformation. But I think in general,
00:47:15
this election or the last election was
00:47:17
really the podcast election. And do you
00:47:20
remember that graph that showed that
00:47:21
newspapers were getting 30% of all ad
00:47:24
revenue but they only had 8% readership
00:47:26
and the internet was getting 10% of
00:47:27
revenue but had 50% of all time. Those
00:47:29
two tend to calibrate and the fastest
00:47:34
growing ads supported medium in the
00:47:35
nation is not meta or alphabet. It's
00:47:37
podcasting
00:47:39
>> u
00:47:39
>> which is video casting really but go
00:47:41
ahead
00:47:42
>> it's it's television with a lower cost
00:47:44
of means of production. It's 80% of
00:47:47
>> a closer relationship with fans that you
00:47:49
have you can't leave that out. It's not
00:47:51
just because it's cheap
00:47:52
>> and it's not starched. It's it's not
00:47:54
it's not a handsome guy saying save
00:47:56
content for 22 minutes and then showing
00:47:58
a video about a butterfly garden. It's
00:48:00
just it's people who are willing and
00:48:02
some people like the conspiracy [ __ ] and
00:48:05
some people want people calling heth a
00:48:09
drunk. it. And sometimes people are just
00:48:11
so [ __ ] talented that they bubble up
00:48:14
past the means of production that have
00:48:15
sequestered some of this talent.
00:48:17
Anyways, podcasting, you know, the
00:48:20
Golden Globes now has it as as a
00:48:22
category. Um, we're up Pivot is up 25 or
00:48:27
30% this year. Propy Media is up 46%
00:48:31
this year. Podcasts are growing like
00:48:34
crazy. And what's what's even more
00:48:36
interesting is the the chaser effects
00:48:39
are the following. The average age of a
00:48:42
Fox viewer is 69, CNN 67, CNBC 64. The
00:48:46
average podcast listener is 34.
00:48:49
And when you're 34, it means you're
00:48:51
you're buying houses, cars, getting
00:48:54
kids, which are very expensive, and
00:48:55
dogs. So this is this is quote unquote
00:48:58
the core demographic. So in and in
00:49:01
addition as evidenced by the fact that
00:49:04
the easiest guest for Cara Swisser and
00:49:06
Scott Galloway to get on their show is
00:49:08
someone running for president.
00:49:10
>> Yeah.
00:49:12
>> Anyone who's thinking quote unquote not
00:49:14
going to make the decision in a year or
00:49:16
two year with their family. Yeah.
00:49:18
>> They're calling us and they want to come
00:49:20
on because they're running for president
00:49:21
because
00:49:23
>> because the what's interesting is that
00:49:25
you know I don't know if you found this
00:49:26
but on property they don't perform that
00:49:28
well. I find that really interesting.
00:49:31
>> Buddha judge did great. I'll tell you
00:49:32
that Nome did well.
00:49:34
>> He's exceptional.
00:49:35
>> Newsome did well. That's not true. It's
00:49:37
not true. Some of them do well. It dep
00:49:39
I'm going to I'm going to pay attention
00:49:40
to what does well, which is
00:49:42
>> I find on average politicians don't
00:49:44
score nearly as well as some of the
00:49:45
other guests we have. But anyways,
00:49:47
audience
00:49:48
>> the in terms of downloads or viewership.
00:49:50
But my point is the new people actually
00:49:53
listen to the ads. The other innovation
00:49:56
that no traditional media company wanted
00:49:58
to do because they decided their talent
00:49:59
was too precious is host readovers. That
00:50:02
gets if you do a if you just do an
00:50:04
insert ad on YouTube or just an insert
00:50:06
ad, you get between three and 10 bucks
00:50:07
CPMs. You reading over an ad, you
00:50:10
talking about your Chevy Bolt and how
00:50:12
much you like it, which you really do.
00:50:13
That gets a CPM of 45 or 50 bucks.
00:50:16
Chevy,
00:50:17
>> the media company at General Motors is
00:50:19
like they're they're allocating more and
00:50:22
more money. And now these things finally
00:50:23
have the scale. So Netflix is could be
00:50:27
the new Netflix is late on short form
00:50:30
video. They're late on podcast, but when
00:50:32
you have direct relationship with 80% of
00:50:35
households, you can play catchup pretty
00:50:38
fast. One of the things that drives me
00:50:39
crazy with the media reporters when they
00:50:41
were talking about the Vox thing, I was
00:50:43
like, "You all don't get where the money
00:50:46
is now, where the voices are, where the
00:50:49
like it just drives me crazy cuz they're
00:50:51
living in a different world." Like when
00:50:53
I not all of them, by the way, but but
00:50:56
when I I've been doing a lot of press
00:50:57
for this scene, I'm think and I'm like
00:50:59
they're like, "Oh, is Vox trying to, you
00:51:01
know, just save itself?" I'm like, "No,
00:51:03
it has valuable a thing that's valuable,
00:51:06
you idiots." And so, you know, and and
00:51:09
the same thing with these deals. They
00:51:10
were sort of pooing. I'm like, you don't
00:51:12
understand what's happening here. And I
00:51:14
can't say it enough. Just sitting at a
00:51:17
table in on a street in San Francisco
00:51:19
with my son, the kind of pe the people
00:51:22
that stopped people that stop me on the
00:51:24
street now, it's really astonishing like
00:51:27
nothing I've ever done. And it's it's
00:51:30
and most of people Scott tell me thank
00:51:32
you for doing what you and Scott are
00:51:34
doing or thank you for doing that
00:51:35
interview. They thank you for your
00:51:38
content. That never happened to me
00:51:39
before in my life. So I don't know how
00:51:41
you feel about that. But you got to
00:51:43
figure out
00:51:44
>> the most rewarding thing about it. I
00:51:46
mean look the the money's great but the
00:51:49
most rewarding thing about it is that
00:51:53
when people come up to you they start
00:51:54
speaking to you as if they're they're
00:51:56
your friend. And it's really nice.
00:51:58
People feel a parasocial they have a
00:52:00
parasocial relationship with you and
00:52:02
they're they feel good about you. I
00:52:04
think it's because you're physically in
00:52:06
their ears often times so it creates
00:52:08
intimacy and also you're talking to them
00:52:11
as they're doing something quite
00:52:12
personal. They're walking the dog,
00:52:14
they're doing the dishes, it's their
00:52:15
morning routine. But I think the most
00:52:18
rewarding thing about being a podcaster
00:52:20
like if you get to a certain point, it's
00:52:21
a little bit like the NBA.
00:52:24
The analogy I use is that when I rode
00:52:25
crew at UCLA, there's been 2,000 people
00:52:28
who have rode crew. 10 10 went to the
00:52:32
Olympics. So what is that like a.5%
00:52:36
not even.5% went to the Olympics? It's
00:52:39
it's.1%
00:52:41
of podcasters are self-sustaining
00:52:43
economically. So you are five times more
00:52:46
likely to go to the Olympics if you
00:52:47
wrote at UCLA than have a successful
00:52:49
podcast. This is a difficult business,
00:52:52
but once you get once you get to break
00:52:54
even, the economics here are incredible
00:52:56
because there's what do we have? We have
00:52:59
we have three producers. We have we
00:53:01
outsource our ad sales to to um to Vox
00:53:06
and this is a $15 million business
00:53:09
growing to 25 probably in the next 24
00:53:11
months. Like just do the math. This is
00:53:13
an incredibly this is creates as much
00:53:16
IBIDA. Pivot will probably create as
00:53:17
much IBIDA as one of the most successful
00:53:21
shows on MS now or Fox or anywhere else.
00:53:24
It won't be as big topline, but the
00:53:26
IBITA margins are just incredibly
00:53:28
dramatic, but hands down the most
00:53:30
rewarding thing from a host standpoint.
00:53:33
>> It's the relationship with fans.
00:53:34
>> These really lovely people come up to
00:53:36
you and they start talking to you about
00:53:37
their kids.
00:53:38
>> Yeah. And it's all
00:53:39
>> I mean, maybe they do that.
00:53:41
>> Maybe they do that.
00:53:42
>> I've never had it happen my whole
00:53:43
career. I have had a long and pretty
00:53:45
like well-known prayer. But I'll tell
00:53:47
you, a very famous author was on my
00:53:49
plane today and he texted he had my
00:53:52
number. He texted me just thank you for
00:53:54
what you're doing. And I he he didn't
00:53:56
want to say hi because he felt like he
00:53:58
was bothering me, which he wasn't.
00:53:59
>> But but what I'll say is we have we have
00:54:01
a responsibility and I think our
00:54:03
responsibility I'm trying to live up to
00:54:05
this is the medium is creating good
00:54:07
vibes. I think mostly because, and I do
00:54:10
think this is true of most podcasts,
00:54:12
when you go on cable TV, and this
00:54:14
happened to me when I went on Pierce
00:54:16
Morgan or a couple times when I've gone
00:54:17
on Fox, they're trying to engage a
00:54:19
little bit and call out culture and
00:54:20
create antagonism. I have found the vast
00:54:23
majority of podcasters when I go on
00:54:25
their podcast, even if they disagree
00:54:27
with me, even if they're conservative,
00:54:29
they're trying to present you in a fair
00:54:31
and positive light. And I think as
00:54:33
podcasters we have an obligation to
00:54:35
maintain that cultural zeitgeist
00:54:38
to be to show some grace to even if you
00:54:40
disagree with people. We're not in the
00:54:42
business of calling them out. You want a
00:54:43
thoughtful nuance conversation. Let them
00:54:45
run with their
00:54:46
>> views. It's okay to disagree and it's
00:54:48
okay to push back. I do think you have
00:54:50
to informational and like let's hear
00:54:52
this person is what I'm trying to do and
00:54:54
like what your goal isn't to make them
00:54:56
look stupid,
00:54:57
>> right? Your your goal is to have a
00:55:00
thoughtful discourse such that your
00:55:01
listeners your listeners learn, but also
00:55:04
to demonstrate the people from different
00:55:06
sides of the political spectrum,
00:55:08
>> but you don't
00:55:08
>> can demonstrate some grace towards each
00:55:10
other.
00:55:10
>> I agree. I agree with you. All right,
00:55:12
Scott. One more quick break. We'll be
00:55:14
back for wins and fails. Support for
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00:56:22
Okay, Scott, we're going to do some wins
00:56:24
and fails. I'm gonna I'm gonna go first
00:56:25
if you don't mind. I already talked
00:56:26
about Palunteer's stupid manifesto. But
00:56:29
two people um Ron Conway, a really
00:56:31
well-known figure in Silicon Valley who
00:56:33
I like very much. He was the one that
00:56:35
was pushing back on he's been I just
00:56:38
really like him. He and I have had lots
00:56:40
of beefs over the years, but he's a
00:56:41
really legendary venture capitalist. He
00:56:43
announced he had a cancer. He's not
00:56:44
giving specifics about it. Um and he's
00:56:47
fighting it. He's given so much money to
00:56:49
medical stuff in San Francisco.
00:56:51
incredibly generous and unusual for a
00:56:53
lot of these VCs who just only think
00:56:55
about themselves, but Ron's a very
00:56:57
civic-minded person in San Francisco.
00:56:59
Um, and people have different views with
00:57:01
him, but I I really adore him and uh
00:57:04
he's he's struggling with some cancer
00:57:06
and he wrote me a series of very joyful
00:57:09
texts over the weekend. I love you.
00:57:11
Thank you so much. cuz I wrote him a
00:57:13
note and I just hope he he has all the
00:57:16
he has all the money and to to do and
00:57:18
all the connections and science because
00:57:19
he's done so much fundraising. Um I hope
00:57:23
for the best for him. And then second
00:57:25
one is um so that's a fail for mine and
00:57:28
same thing is uh Senator Warner's
00:57:29
daughter died. Uh she had juvenile
00:57:32
diabetes and a series of health issues.
00:57:34
And I both Scott and I love talking to
00:57:37
him. We find him very thoughtful. Um and
00:57:40
so I just we are my condolences go to
00:57:43
him. Um she's 36 years old and again
00:57:45
struggled with um struggled with
00:57:48
juvenile diabetes and ensuing bunches of
00:57:50
issues. Um and my win um is this
00:57:54
Atlantic piece. It's a little bit of a
00:57:56
dunker, but everyone is getting on board
00:57:59
with this idea that maybe the tech
00:58:00
billionaires aren't here to help us,
00:58:02
which I think um is is a is a narrative
00:58:05
I've tried to get through a little bit.
00:58:08
Um, but I thought that this guy Noah
00:58:10
Holly, who was responsible for Fargo and
00:58:11
a bunch of other things I love online,
00:58:14
he's been writing for The Atlantic, and
00:58:16
I just really, really enjoy his work.
00:58:19
Um, but I really, uh, let me just read
00:58:23
two quotes from this piece in the
00:58:25
Atlantic. Uh, it's called What I Learned
00:58:27
about Billionaires at Jeff Bezos's
00:58:28
private retreat. These guys are having
00:58:30
their own retreats. That Bezos's is
00:58:32
called Campfire. And it's it's a
00:58:35
devastating piece actually, and I think
00:58:36
very true. unfair. Um, this is the
00:58:39
hubris of accomplishment. To be declared
00:58:41
a genius at one thing is to begin to
00:58:43
believe you are a genius at everything.
00:58:46
It's not that the wealthy become evil.
00:58:48
It's that their environment stops
00:58:49
teaching them the things that
00:58:50
non-wealthy people are forced to learn
00:58:53
simply by living in a world that pushes
00:58:55
back. When when you can buy your way out
00:58:58
of any mistake, when you can fire anyone
00:59:00
who disagrees with you. When your social
00:59:01
circle consists entirely of people who
00:59:04
need something from you. The basic
00:59:06
mechanism by which humans learn that
00:59:08
other people are real goes dark.
00:59:11
Fantastic piece, Noah Holly. I recommend
00:59:14
it. It's beautifully written and
00:59:16
incredibly fair. And um so anyway, yours
00:59:21
>> I'm just gonna I'm just paring your
00:59:23
comments. I did not know that about Ron
00:59:25
Conway and I'm sorry to hear that. Ron
00:59:28
invested uh in two of my companies back
00:59:30
in the 90s when I was playing in traffic
00:59:32
and starting e-commerce companies. He
00:59:34
invested he was one of my first
00:59:35
investors in Red Envelope and one of my
00:59:38
first investors in my e-commerce
00:59:40
incubator, Brand Farm.
00:59:41
>> I didn't know that. Wow.
00:59:42
>> Yeah. And I'll say this about Ron. You
00:59:45
know, you have good investors and you
00:59:47
have bad investors. And Ron uh I would
00:59:51
just describe as incredibly supportive
00:59:53
no matter what was going on was
00:59:56
emotionally and financially just like
00:59:58
really on the side of entrepreneurs and
01:00:01
uh
01:00:01
>> I'm sorry to hear that and I share I
01:00:03
share your warm wishes. Also share
01:00:06
>> your condolences and sympathies with
01:00:07
Senator Warner. Obviously every parent's
01:00:10
>> worst nightmare. I'm not I I know
01:00:13
Senator Warner. I would consider myself
01:00:15
friendly but I'm not close friends with
01:00:16
him. But I have a close friend who's
01:00:18
very close with Senator Warner and the
01:00:20
senator has been approached by any
01:00:22
number of people on a regular basis uh
01:00:24
about running for president and a lot of
01:00:26
people felt that he brought the
01:00:27
gravitas, the credentials and quite
01:00:30
frankly the kind of mo the moderate
01:00:32
positioning that they thought would be
01:00:34
uh a great candidate for president and
01:00:37
uh what I have heard is that he he never
01:00:39
ever ever seriously concern considered
01:00:42
it because he was always very focused on
01:00:43
his family. Uh, so he is that guy, not
01:00:46
the one who was performative. Oh, I'm
01:00:48
going to check with my family. He was
01:00:50
oftentimes people wanted to draft him,
01:00:52
but he was always kind of uh family
01:00:54
first. Anyways, share your share your uh
01:00:57
condolences. My my win is much more
01:01:00
boring. I just wanted to talk a little
01:01:01
bit about Reed Hastings and just the
01:01:04
incredible tenure uh 99 to 2023,
01:01:09
founded in 1997. So, he's there 30
01:01:12
years. So you want to talk about uh from
01:01:15
a startup to global giant.
01:01:17
>> In 2000 they had 300,000 subscribers.
01:01:20
>> This year they'll have 300 million.
01:01:23
>> The revenue went from the revenue went
01:01:25
from three billion in 2011. This year it
01:01:27
will do 45 billion.
01:01:29
>> Terms of market value. They rejected a
01:01:32
$50 million acquisition offer in 2000.
01:01:34
This year they'll they're now worth
01:01:36
about 400 billion. um one of the largest
01:01:40
value creations in tech history in terms
01:01:42
of business transformation.
01:01:44
Talk about the mother of all, you know,
01:01:47
big ball pivots from DVD rentals to
01:01:49
streaming in 2007, from streaming to
01:01:51
original content, House of Cards, and
01:01:54
then he's gone from the US to 190 plus
01:01:57
countries globally. Their profitability,
01:02:00
tons of losses in the 2000s,
01:02:02
multi-billions in annual profits. And
01:02:04
then the cultural impact uh that people
01:02:07
don't talk enough about was that Netflix
01:02:09
deck they put out on their culture. They
01:02:12
talk about freedom and responsibility,
01:02:14
no vacation limits, high performance
01:02:16
culture. And the thing I did actually
01:02:18
take something from them. They stated
01:02:19
out loud that they wanted to be a
01:02:21
company known for exceptional
01:02:23
compensation. And I' I've tried to adopt
01:02:25
the same thing. I've always tried to pay
01:02:27
my people more than market or I
01:02:29
shouldn't say it's the last 10 years. Uh
01:02:31
but this company
01:02:33
um they took a DVD by mail startup. They
01:02:36
pivoted into streaming. They scaled it
01:02:37
globally and they turned it into a half
01:02:39
a trillion dollar media platform.
01:02:42
30 years, 1,000x
01:02:44
user growth, 15x revenue growth, and you
01:02:48
know, redefined or defined the category.
01:02:53
I I would argue one of the top five to
01:02:54
10 tech CEO careers of the last 30
01:02:56
years. And you know what? He did it with
01:02:58
a lot of grace. He was never in
01:03:00
>> absolutely
01:03:01
>> he was never scandal. Never [ __ ] posting
01:03:03
other people. Never
01:03:06
>> found drunk driving. Never
01:03:09
>> shitty tweets he had to erase or delete
01:03:12
>> attention on himself. I have I can I
01:03:15
just add that I've had him on stage many
01:03:17
times but I have to say of all the
01:03:19
people I would rather spend time with
01:03:21
Reed Hastings and I know Hollywood all
01:03:23
hates their miss system but it's not
01:03:25
their fault that they found a way to do
01:03:27
a different system. It's Hollywood's
01:03:29
fault for having a bad economic system
01:03:31
that was no longer sustainable. They
01:03:33
like to sort of blame Netflix. I think
01:03:34
that's unfair. Um they they do what they
01:03:37
do. That's what they make. And I don't
01:03:39
think they're diminishing it. You just
01:03:40
you don't have to watch it if you don't
01:03:42
like it in that regard. And I think they
01:03:43
put out a lot of great content.
01:03:45
Actually, they put a lot of silly
01:03:46
content, too. But I got to tell you,
01:03:48
what a he's a [ __ ] class act. He's So
01:03:51
is Ron. They're class acts. All these
01:03:54
guys you're talking about. and he
01:03:56
clearly imprinted really solid DNA. The
01:03:58
co-c now, Greg Peters and Ted Sandos. I
01:04:01
don't know Greg, but I know Ted, but
01:04:03
they're both have a reputation for being
01:04:05
not only very intelligent, but very
01:04:07
decent men.
01:04:08
>> So Netflix, a great company, great
01:04:10
leadership, and this guy historic run is
01:04:12
is historic. So my win is the tenure of
01:04:16
>> of Reed Hastings. By the way, one of the
01:04:18
things I was thinking about, Scott, was
01:04:20
you talked about that is the decency and
01:04:22
we started with the incompetence like a
01:04:23
cash patelling
01:04:26
sick of these incompetents and these
01:04:27
like look at me performative [ __ ]
01:04:31
liars. Like I don't know what else to
01:04:33
say, but I was watching Obama and
01:04:35
Mandami thing. Uh they were promoting
01:04:38
universal free child care and singing
01:04:40
wheels on the bus. Did you see that
01:04:42
video?
01:04:43
>> It was it was it was very it was very
01:04:45
likable, human humane. It was really
01:04:48
nice.
01:04:48
>> Yes, it was so nice. I was like enough
01:04:50
of that the other [ __ ] the cash patells
01:04:53
and more of that. More wheels on the
01:04:55
bus. That's all I have to say. Anyway,
01:04:57
we want to hear from you. Send us your
01:04:58
questions about business tech or
01:04:59
whatever's on your mind. Go to
01:05:01
nymag.com/pivot
01:05:03
to submit a question for the show or
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call 85551 pivot. Elsewhere in the Karen
01:05:08
Scott universe, this week on On with
01:05:09
Caris Wisher, I spoke with comedian
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Nikki Glazer uh who is a new stand-up
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special called Good Girl coming out
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Friday on Hulu. She talked about uh how
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overcoming fear pushes her to be the
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best. Let's listen to a clip.
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>> I love fear. I run into fear. Picture
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fear as like a wall that you have to run
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into. And so I was I kind of go into
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that of like I know that my self-esteem
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is built upon doing things that are hard
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and conquering them. So I know that on
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the other side of doing this horribly
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uncomfortable thing is uh is me feeling
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better about myself.
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>> It's a great interview. Scott, you
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reminded me of you a little bit. It was
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interesting. I was I was talking to her.
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It was interesting. I think
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>> I like her because it's dirty.
01:05:47
>> She's also dirty. She talked about that.
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Anyway, uh the the show is called Good
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Girl and uh she's not always good in the
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show, but actually she is. It's a she's
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a really talented comic. I like her a
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lot and very thoughtful and very funny.
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That's the most important part. Uh okay,
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that's the show. Let's thanks for
01:06:03
listening to Pivot and be sure to like
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and subscribe to our YouTube channel.
01:06:06
We'll be back on Friday.
