00:00:00
And then the last line is Cara Swisser had cracked the case. Like I'm [ __ ] like Encyclopedia Brown, but the case of
00:00:06
the make it [ __ ] stop you two. And so I got dragged into their ridiculous drama.
00:00:16
Hi everyone, this is Pivot from New York Magazine and the Vox Media Podcast Network. I'm Carara Swisser
00:00:22
and I'm Scott Galloway. Scott, I just want to tell you my mother-in-law agrees with you. She's a
00:00:28
psychologist. And you remember I said she was going to be mad at you um about your therapy uh rant the other day.
00:00:34
Well, it's it turns out she agrees with you. Go on. I would like to tell you it's
00:00:40
incredible. So, I'm going to just read it to you cuz she's so thoughtful about everything. And she goes, "My thought is
00:00:45
I agree with Scott on every point he makes. I know you were joking about your mother-in-law coming after him. I
00:00:52
listened to that part about therapy twice to make sure I heard understood what he was saying. He was a little too
00:00:57
strong at first, maybe understandable to me because of the off criticisms from people who didn't get or even read his
00:01:02
book. And he has good points about the therapy industrial complex, too. Anyone who listens to Scott knows he isn't
00:01:09
blaming women, and that criticism is [ __ ] The interpersonal therapy we think of as discovering and addressing
00:01:15
unconscious conflicts and deep hurts can be helpful in freeing people to be their fuller selves, working through and
00:01:21
accepting loss, disappointments, etc. And so she goes on um and she said certainly as Scott also points out
00:01:27
therapy is of this kind is not even remotely available to the vast majority of people. She agrees with you everyone.
00:01:34
And the last thing she said um I don't believe Scott is saying that the competent ethical therapists are overselling the benefits of therapy or
00:01:41
thinking that structural economic vulnerabilities, insecure food, housing, income, chronically inexperienced trauma
00:01:47
are healed through talk therapies. But as the other marketed efforts, uh, unscrupulous practitioners may and do
00:01:53
take advantage of struggling people. And I'm sure Scott would agree that health care, including mental health care, needs to be broadly affordable and
00:02:00
available, not just for the wellto-do. Boom. There you go. you're now getting married
00:02:05
to Amanda because Yeah, I'm trying to think like um because I know you were upset by the by
00:02:11
the therapeutic response and well well hearing that my my instincts or my muscle memory is to come up with a a snarky comment but the reality is and you should pass this along to your
00:02:21
mother-in-law. I really needed to hear that because when you just constantly getting comments on Tik Tok, I mean the
00:02:27
reviews of the book have been 98% positive, but when you get a significant number of Tik Toks and reals in your
00:02:33
feed from people who clearly haven't read the book saying this guy has a pipeline to the red pill, I like to
00:02:39
think of myself as an offer from the red pill. And that and the thing that really hurts is
00:02:44
here's another man blaming women. And I'm like, oh my god, I'm not blaming women anyways. So, please pass along or
00:02:51
I trust your mother-in-law is listening to this. It I I needed to hear that. It feels really good. So, thank you.
00:02:57
No problem. I mean, I think what was she's an avid listener, Pivot, and I think I think as I was thinking of it, I
00:03:03
thought a therapist would be mad, but you know, people are much more thoughtful. And I think what you're dealing with is people that just do
00:03:09
these 5-second takes, like hot takes on Scott Galloway. And I get that from people about you, and I'm like, no,
00:03:15
that's not true. like that's not what the the blaming women thing I have gotten from a lot of people and I'm like that you didn't read it then you didn't
00:03:22
read it then that's my usually my well what's interesting is that and if you look at big tech algorithms and if you look at headlines we do a lot of AB testing around titles to see what
00:03:33
YouTube YouTube title or thumbnail will get garner the most headlines or the most downloads the the one trend that is
00:03:41
overwhelmingly clear the more incendiary negative comments ments are words and titles, the more clicks. And also, they did an analysis, inflammatory,
00:03:53
negative commentary uh in headlines, in the media is up 140%. It's true. It's true. You know, if someone wants to say in reviewing a book, this is what he gets right and what he gets wrong, that's not
00:04:05
nearly as powerful as, I can't stand this misogynist. Yeah. I mean, it's just it's just every algorithm and profit incentive is to be as over-the-top and
00:04:17
quite frankly not over the top positive. I, you know, to say I just love love love this. Uh, no, say why this is, you
00:04:26
know, why this is dangerous. You know, I I I nearly almost got in a fist fight. Someone said, "Oh, he's sort of like Jordan Peterson. Like he's the
00:04:32
anti-fucking Jordan Peterson." I'm like, they're they're adj they're in the same category. But Jordan Peterson, I think,
00:04:38
is quite ne I mean, I know you like parts of his stuff, but I was like, couldn't be more different. Anyway,
00:04:44
anyway, thank you. Thank you for coming to my defense. Thank you for protecting me. I appreciate it. When we walk down the
00:04:50
street, I need you to walk on the street side to protect me from splashes from carriages. With my shiv, I shall shiv people, but I
00:04:56
have issue. You cheated on me with Oprah. Um, you go ahead. I I didn't know she'd fall in love with
00:05:03
me, Cara. I I didn't It wasn't planned. We met. Did it started innocent? Let's listen. I think she did a little bit. This was a very strange little uh thing she put up. I think it was on Instagram. Let's listen to what she said
00:05:16
about you. Scott Galloway has written a book called Notes on Being a Man. You know, he's a
00:05:22
great podcaster and one of the thought leaders of our time. And I think he has his finger, his thumb, his whole hand on the pulse of what's happening with men
00:05:34
in our society today. So Scott, you had your whole hand on men. That was interesting to hear.
00:05:40
Yeah. And then my forearm and then my full my full torso is is on the scale. You were upset. Not upset when you left. You were sort of equivocal, I would say.
00:05:51
Yeah. Well, let me just say I'm really enjoying this podcast so far, but when I left Oprah, I don't know about you, I have trouble processing stuff in the
00:05:57
moment. People say, "How'd it go?" I'm like, "I'm not sure." I walked out of there. First off, the, you know, Oprah
00:06:03
herself individually is clearly a genius. But she surrounds herself with real pros. And you could tell they spent a month recruiting the audience. They had these videos, the lighting, the the
00:06:17
venue. I mean, these people give really good TV. And I walked out of there and I maybe even have called you and I'm like
00:06:23
I have no idea how that work. I did. I was sort of like oh that's too bad. You didn't have a good time. I usually walk out of things and go I
00:06:29
killed it once again. Yet again. I was right. Hello. Fantastic. Beautiful. That reminds me so much when I knew my I
00:06:40
of course I got to turn this back to me. I remember I took my, you know, in in Delray Beach, Florida, every weekend is on the sidelines of a soccer game and my son was so excited he got put in goal.
00:06:51
He wanted to be a goalie. And within like I barely even like they kicked off the ball and there was a goal on him and
00:06:57
then another goal and I was texting his mom going, "Oh my god, another goal." And finally she said, "Stop it. Stop it." And I'm like, "Oh my god, he is
00:07:04
going to be so traumatized." Like it was like 11 to one. Yeah. And at one point I went to the
00:07:10
coach and like can you just get him out of goal? I was it was one of the most painful 90 minutes I've ever spent.
00:07:15
We walk off the field and I'm trying to think about okay how do I be in reinforcement? I put my arm around him
00:07:21
like so how'd it go out there and he's like great. Did you see the save I made? He made one save.
00:07:26
I love that's fantastic. I'm like this kid's going to be fine. He did great out there. Yeah, you would focus on the 11. Yeah.
00:07:32
Well, good for him. That's good. Anyway, you were great. I watched the whole thing. I've decided she's making you into the new uh whatever her person, you
00:07:40
know, she like she so far her record's not great. I like the Nate guy who does the decorating. But Dr. Phil and Dr. I
00:07:47
tolerate Dr. Phil asked me to come down to Dallas actually. I think they saw me. That's not happening. You may not go.
00:07:53
He's a terrible person. He follows around ice raids and uses. No, that's not good. Yeah, that's not good.
00:07:58
His company just You know Oprah? She feel you know actually who I owe is Gail King set me
00:08:04
up with Oprah. So Gail King is is really generous and nice and she is you're perfect for Oprah. I mean
00:08:10
I do I met her at Cheryl Samberg's house at at one of these things that Cheryl put together and she uh I didn't know
00:08:16
what a vision board was and it was it was a moment because I wasn't fully in the Oprah camp.
00:08:21
She looks great. But I have to say she's like she's like a a tractor beam. like she she touches
00:08:27
your arm and she goes, you know, and I apologize for not knowing what it was. And I said, I'm sorry, I didn't know
00:08:33
what a vision board was. And then she touched me on the arm and she put her hand in front of my face and she goes,
00:08:38
"That's cuz you have a vision board in your hair and did this." She has that she has that Bill Clinton
00:08:44
magnetism where you get the sense you meet her and she's like, "Oh my god, this woman really likes me." And the fastest way
00:08:50
to get someone to like you is to like them. So you're immediately like, "Oh, she really likes me." which makes me
00:08:56
like her. She has that Bill Clinton. She just touches the arm like uh looks you right in the sheer beam. I was like, "Oh, no. I'm being Opra." Anyway, you were great. Of course. Well, you're
00:09:07
getting fame and fortune from my mother-in-law and Oprah. Uh I am Swiss is in the news. I'm in the news with I'm a swizzle
00:09:13
stick. You're a swizzle stick. Yeah. The New York Times referred to the Olivia Nudie Ryan Liza drama as a
00:09:19
cocktail of cockami with a swizzle stick of Carara Swisser. Uh, give us the cliff notes. Like, give the
00:09:25
list back super quick. Olivia Niy had a digital affair with Ryan with RFK Jr. Wasn't it more than digital? Uh, I don't know that she says digital. He's denying it completely. He's a big
00:09:37
Does that mean online or fingers? I don't know, Scott. It's pictures, I think. I don't know. I don't know. Here.
00:09:42
You're dragging me into this. I don't want to know about it. So, here's the It was not good for a What hotels did they check into?
00:09:49
What did they wear? I get it. Listen, it's none of our beeswax, but it was wrong for a journalist to do this and
00:09:55
then not disclose it since she was covering the presidential campaign and he was a candidate, right? Kind of an issue. This it's fine if you're, you
00:10:01
know, an episode of Scandal, but not if you're living in the real world. Anyway, I found out about it through means
00:10:08
nothing to do with Ryan, nothing to do with her, and Ryan is her ex ex her fiance. They were getting
00:10:14
married. They were getting married. Oh, yeah. I wasn't even told by him that they broke up. Um uh in any case, I found out
00:10:22
and it was through other means because it was getting out and I was worried about this and the minute I found out I
00:10:28
knew I had to tell New York Magazine and I was hoping that Olivia would do that and I was hoping
00:10:34
or Ryan or one of them would would do it, but nobody did it. And so I called um I I confirmed it. I made sure it was accurate and did reporting on it. And
00:10:45
then I um and then I told David Haskell. It's the only person I told at Vox. Uh later I did talk to Jim Bankov, but it but I well thought the editor was the right way to handle it and I didn't want business involved.
00:10:57
And you told me and I had no idea what No. No, I didn't. Exactly. I had because I wanted him out.
00:11:03
Um so, so anyway, that was later. I actually told you later. So I told them and I said, "You need to talk to Olivia.
00:11:08
She can't cover the presidential campaign if this is true." And I said, "You need to investigate and you need to
00:11:14
uh figure this out and and then disclose it to our audience." And that's all I said. I moved on and I've been dragged
00:11:20
back in one because Olivia has put me in her book um calling me her mentor and essentially I ratted her out, but I I
00:11:27
didn't I did the right thing. Um and then Ryan has now has doing a ser in retaliation for her book which got very badly reviewed um deservedly I will say
00:11:38
uh having read it. Um I um I I she should have written it and put in a drawer. That's how I feel about this book. Like written it and put it in a way. Feels like Kla Harris's book.
00:11:49
Yeah. No, Kla Harris's is really good in comparison, but I would agree with you on that too. Um so, uh so he's started
00:11:55
to write a series on his Substack trying to attract readers. I don't know what he's doing. I've told him I think it's
00:12:01
he should have written one piece if he felt he had to and moved on, but he's decided to do this. And in this newest
00:12:07
episode of like the really grotesque Pwick papers as I like to call it um as someone told me um he has put me at the he has all these hot kickers at the end and the last kicker is a well-known
00:12:21
journalist just texted me three letters RFK and then the last line is Cara Swisser had cracked the case like I'm [ __ ] like Encyclopedia Brown but the case of the make it [ __ ] stop you two
00:12:33
and so I got dragged into their ridiculous drama. Thank you. That's it. So, a couple things. One,
00:12:39
um I I teach a course on crisis management, and there's only three things you have to remember, but they're really hard and people end up not doing
00:12:45
it. The first is you have to acknowledge the problem. If she had just come out and said, "Uh, I'm human. The heart
00:12:52
sometimes override overrides the brain, as it does to a lot of men, uh, and a lot of women. I [ __ ] up here." Uh, and
00:13:00
then two, take responsibility. My fault. I'm not going to accuse my, you know, my
00:13:05
fiance or even RFK. This is on me. And then third, overcorrect. And I'm not entirely sure how you do other than other than showing contrition. You just try to overcorrect. She's done none of
00:13:18
that. And the And then one of the many damaging things about this is like I don't know that many emerging journalists. I She caught my eye cuz I
00:13:24
thought her work on Biden and other people was fantastic. She is clearly a rare talent and she has really shot
00:13:30
herself in the foot here. And if you look at the damage done in crisis, it's typically not the detonation, the crisis
00:13:36
itself, it's the shrapnel. And the shrapnel is your attempt to cover up, excuse it, not take accountability for it. That's when people get really angry. And the other kind of sad
00:13:49
thing about this, and it does represent a dual standard and sexism in our society, it's almost like we kind of expect RFK
00:13:56
Jr. just to be a pretty low character human being. But the reality is it just how Olivia handled this sort of plays into the worst cartoon of women not
00:14:08
having control over their emotions in a professional context. And I'm not saying I don't think that's I don't think
00:14:14
that's reality. I don't think they have any less or more control than men. I I've never bought Oh, there's so many
00:14:19
people out there saying women are better managers. I'm like, well, show me the data. I don't think they're any better or any worse. Actually, it's probably
00:14:24
not true. They're probably better relationally and better managers. But anyways, this just plays into this trope
00:14:30
of how it feels like it's setting women back like 2 minutes on the cosmic clock of women's progress.
00:14:36
Agree cuz she just looks terrible here. Yeah. And she keeps doubling down and he does too. And the whole I I literally I
00:14:43
hate being a side character in this. And I hate that now they're using like now now they made me a character which I'm
00:14:49
like I just did the right thing and I'd like to leave please. Like make it [ __ ] stop. But but it's I'm sorry. And the book's
00:14:55
not selling, by the way. It's not like I don't know how many how many substacks he's selling either, but I it's the
00:15:02
whole thing is just not a good look for journalists. It's not a good look you write for women. Uh it's just it makes
00:15:07
us look like [ __ ] idiots. Like instead of we made a mistake and we're going to tell the audience
00:15:12
Exactly. Right. You know that it's as if they don't have friends because a good friend with any reasonable perspective
00:15:19
would have sat her down and said, "This is exactly what you do. I [ __ ] up next. Don't talk about it.
00:15:26
Don't write books about it. Don't go on Don't go on Morning Joe or Substack interviews and try and position it that
00:15:32
it was your fiance's fault and drag other people into it. Just I [ __ ] up. I take responsibility
00:15:39
next. I'm going to continue. If New York Magazine doesn't want me around, I'm going to continue to try and make a living as a journalist.
00:15:45
She'll see. I always thought the way she corrected is by doing good work again. Just doing good work. Work right through it. That's exactly
00:15:51
right. Good work. not about you. Like we're through it and not about this scandal cuz she's just digging herself
00:15:56
unless you did a different deeper and deeper. Yeah, I would recommend reading the reviews cuz I thought even though
00:16:02
everyone's like, "Oh, they're so mean." I'm like, "No, no, they're quite kind. It's what the editor should have done." Like especially Becca Rothfeld, who I
00:16:08
think is amazing at the um at at the Washington Post did a great review. I thought it was incredibly fair. Um these
00:16:16
people actually said it was it was lack of honesty. Anyway, I again I don't want to talk. It's one of these topics I'm
00:16:22
like, let's [ __ ] move on from this. Stop like stop doing the all of you stop doing the [ __ ] fan dance and leave me
00:16:28
out of it because I'm a swizzle stick. Anyway, um we've got a lot to get to, including what's going on these Trump
00:16:34
accounts for kids, uh and why investors are worried about a crypto winter. Things are going bad with Bitcoin. But
00:16:41
first, Anthropic is exploring an IPO as early as next year, according to the Financial Times, tapping the law firm
00:16:47
that advised on Google's and LinkedIn's IPOs. That's interesting, though. The official word from Anthropic is that it
00:16:52
hasn't decided when or if it will go public, but it feels like it is. Anthropic is also reportedly pursuing a private funding round that would value
00:16:58
it at above $300 billion. Anthropic CEO uh Daario Amodi was at New York Times Dealbook Summit on Wednesday. While he didn't talk about the IPO directly, he did discuss the risks at play with all
00:17:09
this AI spending. Uh let's listen. When the timing of the economic value is is uncertain, there's an inherent risk
00:17:16
of of underreacting or overextension. And because the companies are competing with each other and frankly we genuinely need to compete with you know our authoritarian adversaries um uh there
00:17:28
there's there's kind of a lot of pressure to push things. So I think there's some amount of irreducible risk
00:17:34
here and I absolutely don't want to deny this but at the same time is that I think there are some players who are not managing that risk well. I like him a lot. I have to say I like
00:17:44
his product. I like the way he talks about safety. I talked about him last week when David Saxs uh was insulting
00:17:51
the company for talking about safety as if there was some thing. Um what do you um I'm going to add on one more thing
00:17:56
and speaking of other AI players, Sam Alman is clearly feeling the heat from Google Anthropic and others. He told employees this week that the company was
00:18:03
declaring a code red to improve chat GPT delaying other products in the process like an advertising product. So um do we
00:18:10
do you think we see an anthropic IPO before an OpenAI IPO and how talk about the bubble fears? I know you're a fan of
00:18:17
Anthropic as a product as Claude. Um, but talk a little bit about this. I really think Daario is one of the people
00:18:23
I appreciate because he I don't always agree with him on everything, but at least he's he seems to be telling the
00:18:29
truth. That's I know it's that's like a it's like the lowest bar of all time, but he's positioned himself really well as
00:18:35
sort of the more measured, honest, less cheerleading. You know, he even said he even acknowledged that this is
00:18:42
probably going to, at least in the short and medium term, destroy a lot of jobs. and he offered up the notion that maybe
00:18:48
the exceptional market share or uh increases in shareholder value should be taxed to help pay for some of the
00:18:54
retraining and he's been pretty I feel like he's a pretty honest broker here and he's been a nice a little bit of a nice antidote to Sam Alman who I think is a little bit overexposed
00:19:05
and Anthropic's positioning is a little bit different it it has a much smaller consumer footprint no mass market
00:19:11
product like a chat GPT it primarily is in the business of enterprise APIs and it's really deeply integrated into finance, legal, healthcare, super strong partnerships with Amazon.
00:19:23
And so they're trying to position themselves as sort of high trust enterprise first LLM provider. And I
00:19:29
like that positioning because in my experience, and I'm biased because I like B2B, but B2B typically is more consistent. If a company signs an
00:19:40
enterprise or a sitewide license, they tend to not consumers are fickle on the upside. Something can get hot. You don't even know why. Like why is you know libu
00:19:51
like explain to me the logic behind that. But they're positioning themselves. But go ahead. they're positioning
00:19:57
themselves as um sort of the enterprise AI and it's you know open AI is sort of universal AI platform and anthropic is sort of enterprise safety and reliability leader and I think that's a
00:20:10
really good positioning and it sounds basic um and they have the trade-off is they
00:20:15
have slower consumer adoption and less cultural buzz but um some of the things they have tried to do is reduce
00:20:22
hallucination rates better model control better governance better regulator regy comfort,
00:20:27
better safety. I mean, again, and they stepped on, I mean, it sounds basic, but they basically stepped on
00:20:32
Open AI and said, "We're thinking about going public, and they've got a ton of attention." Uh, so I I think this was a
00:20:40
really smart move. Did settle with copyright, shareholders, if you remember. That's right. He's trying to Yeah.
00:20:45
Right. Right. too. So, you know, whereas chat GBT is about subscriptions and API usage and
00:20:51
enterprise licenses and integration fees through Microsofts and Azure, Anthropic is really about API usage and enterprise
00:20:58
contracts with long-term commitments and also cloud partnerships. So, I like it's also priced premium relative to
00:21:04
competitors. It's and marketed as a safer alternative for regulated Open AI. Now, uh you know this I've
00:21:11
always talked about this idea of what if it becomes Netscape, right? this is my fear and not Google. And that
00:21:18
feels like that feels like Google's gonna stay Google or or or whatever it happens to be. Which one's going to have
00:21:23
the IPO first? You know, the honest answers, I don't know. It comes down, it's a lot about um
00:21:29
the cap table, your shareholders. Um but you got to think that OpenAI's bankers are saying, "Let's file tomorrow. Let's go." Wouldn't it be good if they went together? Wouldn't Would it be a bad
00:21:40
thing? What would be the best thing for both companies is if one goes out and rockets and gives everyone a chance to
00:21:46
breathe and then institutional investors look at the 80% first trade up on Xfirm
00:21:52
and pile into Y. I don't think they want to go public too close to each other because they'll soak up all of the quote
00:21:58
unquote uh LLM IPO capital, right? And there's worry at the same time among investors. I think Anthropics
00:22:05
should probably go fast. That's what I would do. Well, it's it it is quote it's an instance where they quite frankly can
00:22:13
establish a leadership position because open AI right now is pretty dominant in almost every you know I mean open AI is
00:22:20
trying to become a full operating system for AI with consumer and enterprise ubiquity. Yeah. and and even
00:22:26
anthropic is trying to focus on enterprise and also the safety and uh more nod to the regulatory environment of different of different um verticals in enterprise
00:22:37
open is doing too much stuff that's what I feel like I'm like turducken we have a turducken problem here like and maybe
00:22:43
just focus on the product itself I I don't know I always worry when they're oh we're going to do this and now we're
00:22:48
opening a store and selling t-shirts and why by the way we hired Johnny I was like great but can you say no no to
00:22:54
something Like that's, you know, being very disciplined. Anyway, we'll see what happens. Uh, that was a great interview.
00:22:59
I recommend it. And our favorite Canadian, Andrew Ross Circin, had a good day yesterday. Did a bunch of really good interviews. He's great, isn't he?
00:23:05
Yeah, he did a great job. And he was he had a little more teeth, Andrew. I appreciate it. You were a little more te
00:23:10
toothy with people, which is great. Uh, I thought they were great and very uh insightful interviews. Um, another
00:23:17
story. The latest bids are in for Warner Brothers Discovery. Netflix has come back with a mostly cash offer after leaning uh on its stock for the initial
00:23:24
bid, but the stock has been a little bit down actually. Paramount is also putting together an allcash bid financed by
00:23:30
Apollo and some Middle Eastern sovereign wealth funds despite denying that involvement a few weeks ago. That'll
00:23:35
tell you everything you need to know about these people. And Comcast has reportedly made a cash and stock bid that would merge NBC Universal with
00:23:42
Warner Brothers Discovery. Up next, Warner Brothers would either accept one of the offers or move to a third round
00:23:47
of bids or break itself up like it was going to. Um, one thing that I find really particularly disturbing is that
00:23:54
well, first of all, um, the Paramount bid has a $5 billion breakup thing because they're so confident in their
00:24:00
closeness with Trump and White House officials and some Republicans already raising antitrust concerns about
00:24:05
Netflix. They're they're part of their main strategy is Trump loves us and we'll do whatever it takes. uh which is really horrible. I I you know whatever
00:24:16
that's their strategy. It's so non-economic what they're doing here. And then involving the Saudis is really
00:24:21
I can't believe that that they would be big in any any foreign country would be a big investor in owning this much of news and entertainment. I find that troubling. I don't mind them owning the
00:24:33
golf things, but this is a whole another story. Uh your thoughts? Emerson Junior High School, ninth grade.
00:24:39
We had the ninth grade prom. Oh dear. Buckle up. Where's Ann? Where's Where's Anne? And you know, you have your route. You have your pattern.
00:24:50
Yeah. And how you walk to school. And my junior high school was not a hallmark. There were just certain routes you
00:24:56
didn't go down because there'd be a kid there that got used to sort of beating you up or or asking you for money. Were you beaten up?
00:25:02
Oh, I was pulled into bathrooms in and beaten. Yeah. No, it wasn't. Not me. I mean, not a lot, but uh yeah, a lot of
00:25:10
a lot of that. Um, and by the way, I'm I'm not going to in a weird way, I think some of it was probably good. You learn
00:25:15
negotiation skills and and adversity. Don't break my face. Yeah. There's a reason my nose goes to
00:25:20
the right. Anyways, I can't wait to see how this relates. Going from going from home economics to
00:25:26
Spanish class, me and my best friend Brett Jarvis would pass Kelly Mayhew and Lynn Sugamura. And Lynn was this beautiful, intelligent u 14-year-old. And we neither of us had
00:25:38
dates. And I just yelled out as Lynn was passing me by, "Lynn, will you go to prom with me?" And they both laughed.
00:25:44
And the next day, she cornered me outside and said, "Were you serious about me going to prom?" And I'm like, "You don't have a date?" I mean, Lynn
00:25:50
was beautiful. And she said, "No." I'm like, "Yeah, yeah. Will you go to the prom with me?" And she said, "Yes." And then immediata.
00:26:00
And within like uh the next day, she's like, "Five guys have asked me to the prom in the last day." So once people
00:26:07
knew Lynn was actually going to go to the prom. Oh. And would go with Scott Galloway,
00:26:13
all of a sudden everyone decided to bid for Lynn Sugamore at the prom. Wow. Okay. All right. I can see it.
00:26:19
Okay. By the way, why do I understand this? She left the dance. She left the dance with Ashley Tucker. Broke my heart.
00:26:26
Oh, but she went with you. Yeah, she did go. You got her a cor. Okay. Oh, yeah. The big thing we wrap around
00:26:31
and and like a tuxedo that I didn't know how to put on. Um, and I didn't know how to tie. Anyway, back to Warner Brothers.
00:26:38
I got this wrong. I thought the Ellison's were going to show up with the biggest bank and get this done. And it
00:26:44
appears what has happened is that Ted Sarandos and the Roberts family have said, you know, these assets kind of are singular. We should pull out our pencils. And it's like to a certain
00:26:56
extent and this is one of the failures managers make and that is they typically don't appreciate an employes value until
00:27:03
about the day after they leave right and that is they think of they have a tendency to look at people through the
00:27:08
lens of which they entered the organization rather than saying if you really want to know what someone is worth imagine they're leaving
00:27:14
and what you would pay them and the same thing's happening here and that is there are a set of assets and also you know
00:27:21
streaming platform and uh HBO Which, by the way, HBO still is the premier the premier draw for talent. Whenever I've been involved in any type of
00:27:33
Hollywood thing or series, if if the producer, the actors could pick the distribution platform of all of them,
00:27:40
they would pick HBO. Mhm. Talent loves HBO. Anyways, and also with Warner, there's just some singular
00:27:46
aspect. Yeah, they decided, what the [ __ ] I'm getting in here. and everyone's showing up
00:27:51
with what I would argue it seems right now kind of an irrational amount of money. And I think it's like, well,
00:27:58
okay, except for Comcast, our stocks are up. Netflix on a on a balance sheet level makes a lot of sense because they
00:28:04
have so much freaking money and shareholder value right now. But I am surprised and and I got this wrong. I
00:28:11
thought the Ellison's were going to walk away with this. Here's what I find offensive is that the their whole strategy is we're friends
00:28:16
with Trump. Here's I did talk to someone from Comcast. I'm like, you know what? Just [ __ ] sue them and win. Like
00:28:23
because by the way, Trump the last time tried to stop the AT&T merger, remember with um with Warner? They lost. Trump has maybe seven, eight months left on
00:28:35
this thing that he has any real power, right? If he loses the that last election, they just very troubling for
00:28:42
the for the Republicans. And so to me, I'd lean into Yeah. your your your entire strategy is we're
00:28:48
friends with the president and we're we can we can make a stupid rush hour four forum because we're big [ __ ] suckups
00:28:54
and by the way let's drag in some people from let's drag in some people from the Middle East who shouldn't be in this in
00:29:00
this thing at all and they lied about it they denied it and they're there like this group of people is the sketchiest
00:29:07
group of people you could think of by the way the best owner probably is Comcast on on a on basic level if I had
00:29:15
to pick and then spin off the news things into Versent or whatever you want to do. Netflix is definitely is
00:29:21
frightening for both Paramount and Comcast because they would own everything as you know. So I there are
00:29:26
antirust concerns. At the same time the the doing this non-economically because you're pals with the president is about the most non-c capitalist thing I can think of. And
00:29:38
100%. It's like really, you know, I I I hate to say this, but you know, just cuz your
00:29:44
dad is friends with the president doesn't mean you get to own everything. Like, sorry. Like, and I I feel like the
00:29:49
others are better are better suited. Now, I get the Warner people are going to want to take the best deal. Um, but
00:29:55
if they keep larding this Donald Trump's my best friend, it's going to bite them so hard uh later. That's my feeling. I I
00:30:03
mean, I I don't know. We'll see. We'll see what happens. We'll see. Let me let me just break it. I find it's all quite
00:30:09
confusing. So, I just want to give a bit of a a breakdown or an unpack of what's going on around the bids.
00:30:14
Paramount has made five bids so far, all cash. And this is the interesting part with a $5 billion breakup fee, which is
00:30:21
them saying, "Trust us, we're butt buddies with the president. This will go through. No one
00:30:27
else is going to offer a $5 billion." That's I think that's probably the largest breakup fee I've ever That was a tell to me. That was like, you're not going to win this.
00:30:33
We're on the inside track. Yeah. Yeah, but it also is we're insecure and they're also looking to buy the
00:30:38
entire business and they argue a spin-off would be a taxable event. And the stock, by the way, when they announced all this was down 7%. Netflix
00:30:45
has submitted two mostly cash bids. That's obviously attractive. They're looking to spin off the cable networks.
00:30:50
The stock again fell 5% yesterday. By the way, folks, the reason stocks fall when they get into the M&A race as the
00:30:57
on top acquirer is that twothirds of acquisitions do not pay off. Comcast has also submitted two bids which are a mixture of cash and stock like Netflix. They would also spin off the cable
00:31:08
networks and their stock was up about 1%. Or put another way, Paramount has submitted the best and most aggressive
00:31:15
bid on the table, which doesn't mean it won't be bested, but so far they look like they're in the lead. Now, let's
00:31:20
talk briefly about what each company would get from Warner Brothers, why they're attractive. Paramount's looking
00:31:26
to absorb Warner's streaming subscribers. And combined a Paramount Warner streaming service would have
00:31:31
about 200 million subscribers, making it roughly even with Disney, but still behind Netflix at 300 million.
00:31:37
Yeah, they got to get it. They would also, the combined entity would be the most watched broadcast network and two of the five legacy film
00:31:44
studios and eventually possibly even Tik Tok with the Ellison's. Netflix wants Warner Brothers uh content studio and subscribers by absorbing by absorbing
00:31:55
kind of the high-end content. You know, things like The Sopranos, Game of Thrones, The Wires, Harry Potter, DC Comics. Netflix could
00:32:02
force some subscribers to switch over. And Warner also holds rights in various markets for near for almost every sports
00:32:08
league, which would bolster Netflix's entrance into live sports. Netflix, though looks at this and
00:32:14
thinks, you know, we've done really well staying focused. you might be overpaying and as a result Netflix shares fell 6%
00:32:21
uh on Wednesday and then Comcast wants Warner subscribers. Uh but mostly it's IP. One of Comcast's biggest long-term weaknesses is a lack of modern IP. They've got lots of legacy hits, films
00:32:33
like ET, King Kong, Jaws, but nothing on the scale of Disney, like a Marvel or Star Wars or Pixar or
00:32:40
also for its parks and Yeah. Harry Potter, Game of Thrones and theme parks are also one of
00:32:45
Comcast's most profitable businesses. This acquisition would give them a lot of IP for, you know, Game of Thrones
00:32:50
ride, right? So, this is I I find this fascinating. I got this wrong. I thought the Ellison's were going to walk away. It appears that
00:32:57
that everyone wants to take Lin Sugamura to the junior prom. Okay, we'll end on that. Let me just say if I was comp
00:33:04
bring it on to Trump. That's what I would say. Go ahead. And by the way, let me make a little point here and it's someone I happen to like, but the person
00:33:11
who the lawyer the general counsel for Paramount here is Megan Delrahee who was the person who lost the case for the
00:33:18
Trump ad. He was at the Justice Department and he was so he's the one doing this. So, it's a really
00:33:25
interesting situation. Sorry, Megan, but uh call return my call. Anyway, um he won't because he's probably scared of Niss's being mad at him, but he's a he's a very smart guy, but he didn't win that case. So, push back on this guy. Don't
00:33:38
like pu just push back. It there's you might be able to win by pushing back. It's enough. Um it's enough saying
00:33:44
daddy's friend daddy's friend is going to help us. Um okay, Scott, let's go on a quick break. When we come back very
00:33:50
quickly, we're going to talk about Michael Dell's $6 billion donation for so-called Trump accounts.
00:33:55
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at odo.com. That's odo.com. Scott, we're back. Techmobile Michael Dell and his wife Susan Dell have pledged $6.25 billion to fund 25 million
00:35:04
Trump accounts for kids. The donation will extend the reach of the new child investment accounts beyond the pool made eligible by the big beautiful bill. Now,
00:35:12
most children uh 10 and under who were born prior to the qualifying federal date will receive just $250.
00:35:18
Um, I I don't know what you think of this. I feel like why don't we just tax Mel Goodell properly as his fair share
00:35:25
and then decide where to put the money, including towards kids. This is symbolic. He did one of those White
00:35:31
House things calling it Trump accounts. The whole thing feels rather grotesque to me, but go for it. Yeah, I think the
00:35:38
Dell's Look, I I think if you give $6 billion to try and inspire saving and investing in the markets for kids, I think they deserve praise for this. I I I realize I buy into the notion of what
00:35:52
Anon Giridas says that if we're just relying on the generosity of billionaires, they get to dictate social policy, not our elected leaders. And
00:35:59
you're right, we should have a progressive tax structure such that we could figure out a long-term solution. Uh, but I I I really find the criticism
00:36:06
of the Dells unfair and really unproductive because at some point billionaires just say, "Okay, you win. I'm just not giving anymore." I I don't think it's I I I think they should be
00:36:18
praised for this type of philanthropy. I feel like it's it's the company man giving out company, you know, you know,
00:36:25
company towns, they're run by one oligarch essentially in a lot of places. I'm going to let I'm going to let three
00:36:30
people go to college and I'll decide. meanwhile keeping everybody down. Like I I just I'm sorry. That's
00:36:36
But do you think they're I think the system is [ __ ] up. I agree that we need structural reform, but I don't I
00:36:42
don't think the Dells are trying to keep anybody down. I don't think it's just like why don't you just get taxed normally and let our
00:36:48
our structural issue I get that. But I this whole like performative calling them Trump accounts, you didn't have to
00:36:54
call it that. I agree. Like it's just like gross. It's just gross. If you want to give money, give money the way
00:36:59
Mackenzie Scott does it. I'm sorry. By the way, Mackenzie Scott gave $40 million to a teen um suicide prevention
00:37:07
uh charity I'm involved with. And I I don't know her, so I in no way do I want to in any in any way say that I was in
00:37:13
any way had anything to do with this. She might be listening to you, but she is well, three years ago, who
00:37:18
was my person of the year? Mackenzie Scott. I got to say that's that's who I want billionaires to be. There's just no
00:37:23
denying that when these the female side of the partnership gets divorced from these these 100 billionaires, they immediately start giving money away. Yeah. I mean, there is there does appear to be
00:37:36
a difference in the way men and women approach their wealth. Yeah. And I would argue one is much healthier.
00:37:42
Anyways, the I love the idea in theory and that is I think one of the advantages that China has over the US is they think in 50-year increments. And I believe social security is totally
00:37:54
unsustainable and because it's so popular because of the age of Congress and old people keep voting that I think
00:38:00
we need to do similar to what Australia did and other places do. I would give $7,000 to every baby born. That's 40 billion.
00:38:08
And then and then basically not let them touch it until they were 65 and it's a million bucks. And then within 30 years
00:38:15
when you saw the end of social security because we no longer need it, interest rates would come down and pay for the program. So, I would want something on a
00:38:22
bigger scale. Australia has something super return. I forget what it's called. But this stuff, I like it. I think we
00:38:29
need something bigger and bolder that has a structural shift to get rid of social security in the long term such
00:38:35
that interest rates start coming down in the medium term. These all sound great, but honestly, this is just for sucking up another suck
00:38:40
up to Trump. That's what I feel like. Anyway, uh on to crypto. I don't think it's the best way to do it. That's all. And again, it's not capitalism as I see
00:38:47
it, but uh let's go on to crypto. Bitcoin remains turbulent despite the crypto president being in office, down
00:38:52
30% from its peak at one point this week. Bitcoin and other crypto assets have endured bigger drops, losing as
00:38:58
much as 80% of value and then turning around as we know. But the market appears spooked and worried about a crypto winter. Billionaire Michael
00:39:05
Sailor's firm Strategy, which pioneered selling corporate debt to buy Bitcoin, announced it raised $1.4 billion to
00:39:11
ensure meet future payments. Harvard who had gotten at the wrong time. The school increased its Bitcoin investments to
00:39:17
$500 million last quarter, potentially leading to a 14% loss. Um, very briefly, let's do this real quick. What What do you think about this? This is an ongoing story we really need to be paying
00:39:27
attention to. I like to call balls and strikes and I talk a lot about my personal finances to hopefully um educate people and I like
00:39:34
to call out my losses as my fails. I have not had any Bitcoin exposure and then a few months ago I said, "Fuck, I
00:39:40
need some exposure. I bought one of these Bitcoin Treasury stocks at 14 bucks a share.
00:39:45
It think it closed today or at $5.50. So, I've had my stock I got in at exactly me and Harvard got in exactly the wrong time. Call you Harvard. But having said that, I'm actually
00:39:57
thinking about adding to the position because essentially Bitcoin is an incredibly volatile asset.
00:40:04
It and that's what young people like about it or young people think this system's rigged. that have invented their own asset classes, but it's off
00:40:11
roughly 25% from its peak in October. It's down 12% in the last month, but it's essentially flat from where it
00:40:17
started at the beginning of the year, and it's the result of kind of a d-risking trade that has been ripping
00:40:23
through the markets. And Bitcoin is an especially risky asset. It's a bit of a canary in the coal mine regarding how
00:40:32
risk sentiment, risk on, Bitcoin goes off, up, risk off, Bitcoin goes down. Very good point. It's three times more volatile than the S&P 500. Retail participation in crypto
00:40:42
is roughly two times that of US stocks. And the top 100 Bitcoin holders control about 15% of total supply.
00:40:48
That's incredible. Did you see the military is getting like regular like like privates are getting into Bitcoin.
00:40:55
That made me like, okay, this reminds me. Oh, young man. Risk aggressive. The risk aggressive brain trade and all that
00:41:02
stuff. Day traders. I felt like oh uhoh. Yeah. Actually, I think the next big one I think Bitcoin is going to have oxygen
00:41:09
taken out of it because I think the next Bitcoin, the next crypto is going to be prediction markets.
00:41:14
But anyways, this also people use So, here's a stat. 18 to 34 year olds make up 51% of all crypto holders. Adults 45 and older make up just 22%. So, it's the
00:41:26
opposite of stocks. And male users are about twothirds of all crypto owners. And 73% of male holders uh report active
00:41:33
trading versus just 48% of women. I folks at some point we have to acknowledge generally speaking women are
00:41:39
different than men. Yes. The way they approach philanthropy investing every you know when you talked about that a couple of months ago you
00:41:45
were investing I thought I should maybe and then I didn't. I thought too volatile for Cara Swisser. I'm going to keep my I'm going to sit on my pile of
00:41:52
money and I didn't. So a friend of mine named Eric Jackson who's sort of this he's this really interesting
00:41:57
I love investor nice guy. Um he and I became friendly back when I started L2. He's
00:42:04
like pounding the table saying that this is an incredible buying opportunity and
00:42:09
it's not financial advice, but I'm going to ask Scaramucci. Ouch. Scaramucci, where's
00:42:14
the Look, you live by the sword, you die by the sword. So, yeah, it's off 25% in 60
00:42:19
days, but that takes it back to where it was at the beginning of the year. And uh I'm actually thinking about adding. I do
00:42:25
think I don't like these shitcoins, but I do think Bitcoin has become a legitimate asset class. We'll consider it, Scott. Probably not.
00:42:33
You know what? For me, it's a divers it's a diversification play. Although it's not as diversified as people would like to believe. It's probably pretty
00:42:39
correlated to the NASDAQ. But it's been this is a highly levered asset. So, when
00:42:44
things are good, everything's very good. And when things get the sentiment turns against it, it gets especially it's kind
00:42:50
of the tail of the whip of risk aggressive investing. Uh I would argue though that the new crypto and I've been
00:42:56
thinking a lot about this is going to be these prediction markets. Oh, that's a really smart. We'll talk about that more. That that's an interesting I agree with you. All right,
00:43:02
Scott, let's go on a quick break. When we come back, we'll talk about Costco coming after the Trump administration. Speaking of like that, we've had enough.
00:43:08
Scott, we're back with more news. Costco has sued the US government for a full refund on tariffs that is paid if the Supreme Court rules them illegal. The
00:43:15
complaint argues that the Trump administration misused emergency powers to implement tariffs. Two lower courts have already ruled that Trump exceeded
00:43:21
his authority. Uh I love Costco. I love Costco every bit of Costco. And I love how they're just like, "Yeah, we're
00:43:28
liberal and that's the way we're going to stay." And same thing with there's several companies like that, like Patagonia and others. And they do rather
00:43:34
well, both of them. Um, what do you uh what do you think of this? This is really interesting. I feel like it's
00:43:40
time to fight back. It's time to like, that's enough, my friend. That's enough of your antics, your ridiculous taco
00:43:45
antics. If Hobby Lobby wants to take a more conservative approach to their business or if Target doesn't want to uh
00:43:52
sell merchandise celebrating Pride, consumers have the right to boycott them, they have the right to do that. I
00:43:57
think private enterprise, unless it's it's discriminating against your your consu your customers or your employees,
00:44:04
I think private enterprise gets to do what it wants. Yeah. And Chick-fil-A has always been known as
00:44:09
being more conservative. You don't like Chick-fil-A, don't eat a Chick-fil-A. I got that from you. So, as
00:44:14
long as you're not discriminating based on, you know, employees or customers, and I think companies should have
00:44:21
companies now, unfortunately, for many of them, get positioned politically whether they want to or not. The smart
00:44:27
ones try to stay out of that mess. That's correct. But you're going to have Trump, a guy
00:44:32
who left a trail of unpaid subcontractors and bankrupt casinos, tell Costco how to run business. I mean, Costco, Costco's one of the most impressive retail companies in the last
00:44:44
100 years. I love that they're suing him, though. Like, you know what? And do do you realize that only I think it's only 2% of the revenues come from
00:44:50
membership? Basically, Costco is we sell you everything at our cost and then you pay us whatever it is, our 180 bucks a
00:44:57
year, and that's where we make all our money is membership. It's only 2% of the revenues, but it's like half their
00:45:02
operating profits. And the model is so genius. It's so simple, but it's fun to shop. It's also a great It's also
00:45:08
a great product. Like I don't just think like if it was kind of a shitty product you and you have to drag your way through it. It's actually so much fun to
00:45:15
go to a Costco and they have good hot dogs. But it's the only place where I go in for paper towels and I leave with a kayak, a
00:45:22
gallon of salsa, and a financial 900 croissants. No, I leave with a kayak. I need peanut
00:45:27
butter. I got to buy this kayak. Um where's your kayak? I love kayaking. Yeah. Do you have a kayak? No, I've been kaying. That's the closest I think I've came to death. My buddy
00:45:39
Doug Telture at Berkeley decided we should go kayaking and I took one lesson in the pool at
00:45:45
the flippy kind of kayak or the flat kayak. Oh, no, no, no. The hardcore like down a
00:45:50
river kayak. That is that is And I went down the American River and it had rained and I flipped over
00:45:58
immediately and started hitting my head almost unconscious. No. And um Wow. And you were in one of those little skirts, things like that. Oh, you got to do a wet exit. If you don't get out fast, you can drown.
00:46:10
I know. It's true. Oh my god. Anyways, Doug Teltra almost killed me. No. Got caught in an Eddie, as they say.
00:46:16
I like I like getting gas at Costco. I like to save 11 cents and wait half an hour. Um,
00:46:21
I love Costco. Good for Costco. There should be more of this. Get get in there. Get up your lawyers. When I was joking about Margie Taylor Green, she has the energy of a woman who returns a
00:46:32
halfeaten rotisserie chicken to Costco. Love that. Okay, so just so you know, but Costco,
00:46:38
like Nordstrom, has basically no matter what people return or how stupid it is, take it back. You could you could literally show up and hand them the ashes of your broken dreams and they'll
00:46:49
still refund you. I mean, it's like it's uh By the way, one I I can't help this. One of my favorite retail stories is about Nordstrom. Okay. And this guy uh every year they have an
00:47:02
annual meeting. They bring all the managers and they're supposed to tell the most outrageous customer service story for a prize.
00:47:07
Yeah. And one guy stood up and said, "Old man shows up brought brings tires we bought
00:47:13
at the store and they're bald and asked for a a refund and we gave it to them." And someone stood up and said, "We refund you [ __ ] all the time." He's like, "We don't sell tires." And it ends
00:47:24
up, it's the most lovely story. It was an old man struggling with dementia and he showed up with tires and obviously
00:47:30
didn't know where he was and the manager came down and gave him a $50 certificate and said, "We're taking these backs. Here's the certificate. Can we call your
00:47:37
daughter?" Can you imagine how loyal you are to Nordstrom? If you that family got to get I spent time a lot of time with the
00:47:43
Nordstroms back in the day. The original Nordstrom Pico I used to go to the one in Pico. I used to Nordstrom was where
00:47:49
the rich people and it had a piano player. Yeah, it had but you know the one in Seattle, one of the the original
00:47:54
that's where it was founded. Yeah, I spent a lot of time with the Nordstrom. I loved dealing with them. I have to say they were just love I went
00:48:00
up to visit Jeff Bezos and I was like gh and then I visited the Nordstrom like yay that was my day. Um and then over to
00:48:07
Microsoft which wasn't a pleasant place and got yelled at by Steve Bomber. See that was my life back then. And uh
00:48:12
anyway uh all right Scott one more quick break. We'll be back for predictions. Okay Scott let's hear predictions. We've
00:48:19
been saying predicty stuff, but um by the way, another lawsuit I predict New York Times just sued the Pentagon for infringing on First Amendment rights of being able to cover stuff. There's going
00:48:30
to be a lot more lawsuits again by companies now against Trump. That's my prediction. Everyone's like, "That's
00:48:36
[ __ ] enough, dude." I call it the this [ __ ] guy situation. This [ __ ] guy. I'm gonna sue him. Anyway, sorry.
00:48:42
Go ahead. when I was living at home with my mother and had no nothing going on when I was like 24.
00:48:49
Um, by the way, I was one of those men I talk about all the time. I used to go to Nordstrom and cosplay someone who had
00:48:55
their [ __ ] together. You just feel like when you're in there, you must have your act together. Yeah. Cuz you're buying like $90
00:49:01
sweaters and you're like, I must have my act together. I'm a Nordstrom. Yeah. And yeah, it was or my favorite was
00:49:08
I would go into the fragrance section and just take every fragrance and I would it was like a chemical ambush. I'd
00:49:14
start seeing my ancestors and my credit score at the same time. Oh, fragrance masking.
00:49:19
All right. My prediction is the following. Uh Heg Seth Patel and RFK are out within the next 30 days. I think
00:49:26
Trump has absolutely no loyalty. His administration is tanking. He's going to have to face potential, you know,
00:49:34
allegations of war crimes. The economy sucks. Uh tariffs aren't working. And so Patel headset and no, I think he's going to I think he's going to do one fell swoop. I think he's going to within like a week of each other, I
00:49:46
think. And a lot of presidents have done this. Presidents usually kind of go a year, two years, and they say, "Okay, it's
00:49:52
time to calibrate." And they let some people go. Uh I think Patel has got sort of an
00:49:57
internal re vault on his hand. ton of ton of former and current FBI professionals are saying this is
00:50:04
dangerous. We we are focusing on the wrong things and this organization which is one of the most competent, professional and effective organizations
00:50:10
in history has been essentially neutered and then I think he's he's going to find
00:50:16
I I think he's why not do three at once and uh Haggath Patel RFK I think are all
00:50:23
out with not interesting. I'm gonna go with Gnome. I think he likes Yeah, maybe. Okay,
00:50:30
I'll go three of the four. That's a good one. Well, RFK would be great because he's paid no price. All these other people
00:50:35
have paid a price, including Cara Swizzlestick. Well, okay. And I mean, it's hard to pick which one is your favorite. How
00:50:41
about the guy who took $50,000 in cash in a paper make him the head of Homeland Security. That's what it'll do. That's a Doritos
00:50:48
bag or whatever the [ __ ] you Anyway. Okay, that's a great predict. I like it. I like that. Stick with that. I like it.
00:50:53
I think you're right. All right, we want to hear from you. Just send us your questions about business, tech, or whatever is on your
00:50:58
mind. Go to or go to nymag.com/pivot to submit a question for the show or call 85551 pivot. Elsewhere in the Cara
00:51:05
and Scott universe this week on ProfG Conversations, Scott spoke with Anne Applebomb, one of my favorite staff writer at the Atlantic about the
00:51:12
business interests driving US-Russia negotiations, European power, and America's slide into kleptocracy. Let's
00:51:18
listen to a clip. What's disturbing about this episode is that it shows something very ugly about this administration. Namely,
00:51:29
um, and it raises a question, you know, in whose name are they conducting American foreign policy? Is this for the
00:51:37
security and prosperity of America and our allies? Or is this something that's happening on behalf of companies, maybe
00:51:45
even some involving the family of Trump or of Whit um who are hoping to make money out of this negotiation? You think? Yeah. Yeah. There you go. Anyway, I like I love Ann. That was a
00:51:58
great interview, by the way. Okay, that's the show. Thanks for listening to Pivot and be sure to like and subscribe to our YouTube channel. We'll be back
00:52:04
next week. Uh, by the way, happy birthday to Dr. Jeffrey Swisser. He's 65. Scott
00:52:10
J. Swish. J Swish. D Swish. Medicare. Jeff, go for it. Scott, read us out. Today's show was produced by Larara Neon, Zoe Marcus, Taylor Griffin, and Kate Gallagher. Learn Todd in this
00:52:20
episode. Manola Moreno edited the video. Thanks also to Drew Bros, Miss Smith, and Dan Shalon, the shot Kuras, Vox
00:52:26
Media's executive producer podcast. Make sure to follow Pivot on your favorite podcast platform. Thank you for listening to Pivot from New York
00:52:32
Magazine and Vox Media. You can subscribe to the magazine at nymag.com/pod. We'll be back next week for another
00:52:38
breakdown of all things tech and business. Cara, have a great rest of the week and weekend.