00:00:00
I was right. I was [ __ ] dead right.
00:00:02
>> We predicted this.
00:00:04
>> Scott, you and I predicted in March that
00:00:06
we would see a deal like this.
00:00:07
>> We predicted he would exit.
00:00:09
>> As I predicted last week,
00:00:10
>> as I predicted, I knew this day was
00:00:11
coming and how it would go down.
00:00:13
>> You did. You predicted it.
00:00:14
>> I did.
00:00:15
>> A new biography from Cara Swisser. And
00:00:17
dot dot dot. I was right.
00:00:19
>> But the thing is, I was right.
00:00:30
Hi everyone, this is Pivot from New York
00:00:32
Magazine and the Vox Media Podcast
00:00:34
Network. I'm Cara Swisser
00:00:35
>> and I'm Scott Galloway.
00:00:36
>> Scott, we're here for your Super Bowl,
00:00:39
our annual predictions episode where we
00:00:41
look past some of our past predictions
00:00:43
and make some new ones. Are you ready?
00:00:46
>> So ready. Yeah.
00:00:47
>> Okay. You have a lot. I know I've got a
00:00:48
few, too. So listen up to both of us.
00:00:51
Okay. We're starting things off on the
00:00:53
subject of AI because we have to. were
00:00:55
obligated by legally to do so. Uh first
00:00:57
let's listen to a prediction you made on
00:00:59
last year's prediction podcast.
00:01:02
>> Okay. So briefly 2025 will be the year
00:01:05
of a new duopoly. It'll be open video.
00:01:07
Open AAI and Nvidia. Right now control
00:01:10
arguably 90% of all traffic and AI 90%
00:01:13
of the queries 90% of the queries are
00:01:15
the processors that are powering those
00:01:17
answers to those queries are those two
00:01:19
firms. And so it'll be kind of the new
00:01:21
windel and people will start referring
00:01:23
it to it as the most powerful duopoly in
00:01:25
the world.
00:01:25
>> Well, interesting. That was absolutely
00:01:27
true except now it's code red at open
00:01:30
how things have moved and obviously
00:01:32
Nvidia is still on top but facing some
00:01:34
possible competition in 2026. Any
00:01:37
thoughts on that?
00:01:38
>> Yeah, I don't know if that was that
00:01:41
um provocative a prediction because it
00:01:43
was already shaping up. The prediction
00:01:44
I'm most proud of from last year is I I
00:01:46
every year I have a big tech stock pick
00:01:48
and last year I picked Alphabet and it's
00:01:50
up 68% since the prediction.
00:01:52
>> Mhm.
00:01:53
>> But it was already sort of forming.
00:01:55
>> Um and it it but yeah it it continues
00:02:00
they continue to sort of be the the
00:02:02
duopoly
00:02:03
>> but not going forward. What's
00:02:05
interesting is similar to Winel people
00:02:07
are coming for them um across uh you
00:02:11
know on both dimensions but especially
00:02:13
open AI uh and I like your analogy that
00:02:16
open AI might be the Netscape of um of
00:02:20
our generation.
00:02:21
>> Yeah, I'm always waiting. Was it
00:02:22
Netscape or Google? I think we're at
00:02:24
that moment right now. Um it was Google
00:02:27
for a little bit but now it looks like
00:02:28
Google's decided to be Google. Any you
00:02:30
were right about that stock. Great one.
00:02:32
Okay, time for both of us to have an AI
00:02:34
prediction for 2026. Uh Scott, you got a
00:02:37
prediction about AI stocks.
00:02:39
>> Yeah, I think there's going to be a
00:02:40
major draw down and it's because uh it
00:02:43
all goes back to geopolitics. Uh
00:02:46
essentially Trump has adjusted tariff
00:02:48
policy with China 17 times so far in his
00:02:51
second term. I think they've pretty much
00:02:52
had it with this guy and they've now
00:02:54
said they're now in the closest thing
00:02:56
they could get into short of a hot war.
00:03:00
And so basically China is totally
00:03:02
diversifying away from the US in terms
00:03:04
of exports. Their export volumes are up
00:03:07
40% since 2019 while imports are only up
00:03:09
1% and over the same period the US share
00:03:11
of China's exports fell from 17 to 10%.
00:03:14
And the reason that that sets the
00:03:16
context here and that it's I think
00:03:17
China's about to go for the jugular here
00:03:19
and I think that they're going to
00:03:21
massively engage in what I'll refer to
00:03:23
as AI dumping and that is these openw
00:03:25
weight models including QN3 Max. um the
00:03:30
these models are just much cheaper,
00:03:33
lower power consumption, and everyone
00:03:35
from Airbnb to other Fortune 500 firms
00:03:37
are starting to recognize that these
00:03:39
things are lower cost. And uh I think
00:03:43
essentially China is going to say,
00:03:44
"Okay, the fastest way to kick this guy
00:03:47
in the nuts is that he's made a giant
00:03:48
bet on AI, including the S&P and his
00:03:50
entire economy on AI, and we're just
00:03:52
going to start dumping AI into the US
00:03:54
market." And as a result, I think you're
00:03:57
going to see a massive rerating down.
00:03:58
And also the the the harsh truth is
00:04:01
these open weight models coming out of
00:04:03
China are getting to technical parody
00:04:05
and the fastest way to build a big
00:04:06
business is to offer 80% of the leader
00:04:08
at 50% of the price and that's what
00:04:10
they're doing. Uh, so I think you're
00:04:12
going to see massive pressure placed on
00:04:14
Open AI and I think that is going to um
00:04:17
and other US-based models and I think
00:04:19
that's going to cause a rerating down of
00:04:21
these stocks and even 80% of A16 uh Z
00:04:26
startups use Chinese open source models.
00:04:28
So anyways, I think we're going to see a
00:04:31
massive rerating down of the Magnificent
00:04:33
7 at the hands of uh AI dumping from
00:04:36
China.
00:04:36
>> Yeah, that means data centers go down
00:04:37
the whole thing. Ouch.
00:04:40
Watch out below. All right. Mine is um
00:04:42
in an area that I keep thinking about a
00:04:44
lot. I've spent a lot of time thinking
00:04:45
about it, which is robotics. And I think
00:04:47
the combination of AI and robotics has
00:04:49
not been fully plumbed enough. And I
00:04:51
really do think the um that we are not
00:04:54
paying attention to what all the
00:04:56
innovations happening there is because
00:04:57
we get focused on Elon's stupid optimist
00:05:00
robots that are running around doing our
00:05:01
laundry. I think there in manufacturing
00:05:04
in all kinds of areas, robotics are
00:05:06
going to really start to become really
00:05:08
interesting. cars. I consider that
00:05:10
robotics. Um the smarts of them with
00:05:13
combined with robotics is really where
00:05:15
the big changes we're going to see in
00:05:16
our society. I just do. I don't mean
00:05:18
again a a bot making your coffee, but
00:05:21
it's not going to look like what you
00:05:22
think that you know because I think it's
00:05:24
really hard as many robotics people tell
00:05:26
you to make a hand work. And where we're
00:05:29
focusing is so anthropomorphic um that I
00:05:32
think it's a mistake. I think there'll
00:05:33
be robotics in lots and lots and lots
00:05:35
and lots of things and and especially
00:05:37
when combined with AI and one of the
00:05:39
things I tested was in Korea these um
00:05:41
these these essentially ectokeletons now
00:05:44
have AI embedded in them and they work
00:05:46
so much better and so you can see it
00:05:48
being applied all over the place and
00:05:50
these are braces they look like braces
00:05:52
and before they were mechanical that
00:05:54
would help you walk now AI helps decide
00:05:56
how you do it and I think they're
00:05:57
nothing short of miraculous and so
00:05:59
that's where you're going to see some
00:06:00
that's that's my area and AI is focusing
00:06:03
on its applications in a wide range of
00:06:06
different products across robotics.
00:06:08
>> I love that and and just to add some
00:06:10
texture to that I think where you will
00:06:12
see shareholder gains from AI won't be
00:06:15
in AI it'll be an AI application
00:06:17
specifically autonomous specifically
00:06:19
Whimo
00:06:20
>> and as you said a the chocolate and
00:06:22
peanut butter of AI and robotics
00:06:24
specifically Amazon and we'll come back
00:06:25
to that.
00:06:26
>> Yeah absolutely and they have been early
00:06:28
to that by the way. Okay, next category
00:06:30
business. Scott, let's listen to a
00:06:32
prediction you made back in April.
00:06:34
>> I think you're going to see in the next
00:06:36
one or two weeks a cadra of Fortune 500
00:06:39
CEOs, Republicans
00:06:42
stand up, business leaders stand up and
00:06:44
say, "Okay, enough already." While you
00:06:47
all claim he's playing 4D chess, at this
00:06:48
point we're worried he's going to start
00:06:50
eating the pieces.
00:06:52
>> Not so much. Although Jamie Diamond sort
00:06:54
of yelled at Maria Baroma the other day,
00:06:56
but not so much.
00:06:58
>> Yeah.
00:06:59
Um, yeah. Let me comment.
00:07:02
>> Yeah, they really have turned out to be
00:07:04
profiles and non-courage. That's really
00:07:06
something else.
00:07:06
>> I just don't and I still don't get it.
00:07:09
Quite frankly, I still don't understand
00:07:12
what's the point of having all this
00:07:14
money. And if you don't nod to the
00:07:16
principles that got you this wealthy, I
00:07:18
I don't I just don't I don't get it. I
00:07:21
don't understand it. These guys are
00:07:23
bulletproof. Why are they What are they
00:07:24
worried about?
00:07:25
>> Yep. Agree. I think it's just the one of
00:07:27
the most disappointing things you've
00:07:28
seen here. I think it surprised
00:07:29
everybody, a lot of people. Anyway,
00:07:31
you've got an investment prediction here
00:07:33
and then I have one. Go ahead.
00:07:35
>> Uh you mean my stock pick?
00:07:37
>> Yes.
00:07:38
>> So my big tech stock pick every year I
00:07:40
pick a big tech stock pick and my stock
00:07:42
pick this year is uh and when I say
00:07:45
outperform if if AI if AI throws up,
00:07:48
everything's going down, folks. So what
00:07:50
I'm saying is this stock will perform
00:07:52
better. That might be down 10 instead of
00:07:54
down 50. But my big tech pick for 2026
00:07:57
is Amazon. It's been an underperformer
00:08:00
year to date. It's only up 7%. I like
00:08:03
it.
00:08:03
>> And also its revenue per employee is
00:08:05
down 28% versus up 49, 56, and 62 at
00:08:10
Metal Alphabet and Microsoft
00:08:12
respectively because they have made
00:08:14
massive investments that have not yet
00:08:17
yielded payoffs in see above what Cara
00:08:20
said, robotics.
00:08:22
Um, but what you're going to see here is
00:08:24
that uh they've started laying off
00:08:26
employees. I'm not saying that's a good
00:08:27
thing, but Google's laid off 2500, Meta
00:08:30
4600, Tesla 14,000, Amazon's laid off
00:08:33
18,000. And what's just so striking is
00:08:36
that Amazon is predicting it can double
00:08:39
the revenue at its retail group, which
00:08:41
is as big as topline revenue business,
00:08:43
with no increase in employees. And I
00:08:45
think the chocolate and peanut butter of
00:08:48
AI and robotics at Amazon is huge. And
00:08:51
Amazon is really the Ford of the 21st
00:08:54
century. And that is over several years,
00:08:57
Ford was able to take the the time to to
00:09:00
manufacture a car down um 90% and Amazon
00:09:06
just since its acquisition of Kea Robots
00:09:09
has been able to take down click to
00:09:11
fulfill or to ship down by 80%. And if
00:09:14
you want to talk about your prediction
00:09:17
around investment in robotics, here is
00:09:19
the number of operational industrial
00:09:21
robots. Uh, China has 2 million. The US
00:09:26
excluding Amazon has 400,000. Amazon has
00:09:30
a million operational industrial robots.
00:09:33
So Amazon has 2 and a half times the
00:09:36
number of operational robots, industrial
00:09:39
robots is the rest of the nation
00:09:41
combined. So they have made an enormous
00:09:45
bet and typically more margin expansion
00:09:47
from Amazon has come from its media
00:09:50
group where you have forced to advertise
00:09:53
or from its cloud group but you're going
00:09:55
to see a margin expansion at the hands
00:09:58
of operational efficiencies from
00:10:00
robotics and AI in its retail group.
00:10:03
It's also I don't want to say cheap
00:10:05
right now but reasonably priced. It
00:10:07
typically trains at a P multiple over
00:10:09
the last five years of 58. Now it's at
00:10:11
33 and its enterprise value to ibitta is
00:10:14
usually 23 and now it's 17. So in some
00:10:18
my I I think it's fairly it's not it's a
00:10:22
fair value right now and I think you're
00:10:23
about to see the mother of all margin
00:10:25
expansion at the hands of AI and
00:10:26
robotics. So my big tech stock pick for
00:10:28
26 is Amazon.
00:10:30
>> Yeah like it. So Amazon it is really
00:10:33
interesting. Um I'm gonna you know
00:10:35
there's a lot of IPOs coming up. We've
00:10:37
talked about them. SpaceX, a bunch of
00:10:38
others. Um, and uh, I think that's all
00:10:41
very interesting. But, you know, you
00:10:43
talked about that there was a lot of
00:10:44
worry about the stock market declines
00:10:47
couple years ahead of the the the
00:10:49
decline, right?
00:10:51
>> I just feel like with this midterm
00:10:53
election coming up, we may have a more
00:10:55
of a stock market downturn before that.
00:10:58
Like I I don't like to call these. I'm
00:11:00
not an expert in this way, but the it
00:11:03
feel investors feel very fragile, it
00:11:05
seems like, and anything affects them.
00:11:07
And I know it's been a surging stock
00:11:09
market. It really has. Sort of against
00:11:11
all the odds and all the deficits and
00:11:14
every it seems to like ignore that, but
00:11:16
I don't think it could ignore it for two
00:11:18
or three more years. I think sometime in
00:11:20
2026, maybe at right after the midterms,
00:11:23
which I think everyone needs to be
00:11:24
paying attention to obviously, um, this
00:11:27
year we may start to see like maybe the
00:11:29
stock market not being so good for
00:11:31
Trump. Uh, I think that's has helped
00:11:33
buoy him. And as you said, if China does
00:11:36
things like you were talking about,
00:11:37
you're going to see where you're going
00:11:38
to see the declines are in these tech
00:11:40
companies. So, I just feel like there's
00:11:42
there's going to be a real a lot of
00:11:44
volatility around the companies that you
00:11:46
talked about at the first place. All
00:11:49
right, Scott, let's go on a quick break.
00:11:50
We come back, more predictions. Okay,
00:11:53
Scott, let's talk politics. I'm not sure
00:11:55
we could have predicted most of the mess
00:11:57
that was the 2025 politics. We did okay.
00:11:59
We did get one thing right about a
00:12:00
certain breakup. Let's listen to what uh
00:12:02
I said on in November of 2024.
00:12:06
>> I think these people can't coexist
00:12:08
together in the same room for much for
00:12:11
too long. That's my that's my sense.
00:12:13
Maybe I'll be completely wrong, but I
00:12:15
feel like that Trump likes the attention
00:12:18
and Elon likes the attention and there's
00:12:20
only so much attention to go around.
00:12:23
>> And I had a cold end. Let's hear what
00:12:24
you had to say on the matter in
00:12:26
February.
00:12:26
>> I think Doge is going to be over and
00:12:28
done by the end of the year.
00:12:30
Okay, we got that one right. We just
00:12:32
did. We just knew it. He's sort of back,
00:12:34
I guess.
00:12:35
>> Yeah, but they it they saved $2 billion.
00:12:37
>> Yeah, you know, he saved nothing. He
00:12:39
killed people.
00:12:39
>> He's about to unwittingly, and I'm not
00:12:41
saying he meant to do this, but he will
00:12:43
probably end up on some lists along with
00:12:46
Stalin, Paul, Hitler. Uh there will
00:12:49
people people will start to aggregate
00:12:51
lists. I don't know if Trump or Musk
00:12:52
will be on that list, but when you look
00:12:54
at the hundreds of thousands of people
00:12:55
who can be direct whose fatality or
00:12:57
death can be directly linked to a lack
00:12:59
or a cut off of USA ID,
00:13:02
>> they're going to end up on some of those
00:13:03
lists.
00:13:03
>> Yeah. And I think we got the Doge thing
00:13:05
right. They're still there. Some of them
00:13:06
are still there, but you know, you know,
00:13:08
look, it's fine to want to save money
00:13:10
and be more efficient, but the way he
00:13:11
did it was so ham-handed and cruel and
00:13:14
and pointless. I I met some USA ID
00:13:17
people last night at an event and they
00:13:19
were doing astonishing work and it was
00:13:20
all soft diplomacy, you know, soft uh
00:13:23
power and stuff. Just the the damage
00:13:25
he's done cuz he's such a like demented
00:13:28
addict of some sort. It was really
00:13:31
really stupid. And I think he just
00:13:32
wanted to break like me break thing by
00:13:36
kind of thing. And it wasn't thoughtful.
00:13:37
There's a thoughtful ways to figure out
00:13:39
how to be more efficient and he didn't
00:13:40
use none of them. And it was inevitable
00:13:42
that he would fight with Trump. He'll
00:13:43
still be hanging around the basket cuz
00:13:45
he's such a toxic figure and Trump will
00:13:48
use him as he wants. But Trump certainly
00:13:50
uh if only if he has use for him will he
00:13:53
be around. Um okay, I've already made
00:13:56
one politics prediction for 2026. Let's
00:13:58
play a clip as a reminder.
00:14:00
>> You know, I'm a big believer as people
00:14:01
know when I covered Silicon Valley and
00:14:03
the leak and I think there's going to be
00:14:05
people leaking this stuff over and it's
00:14:08
going to be drip drip drip. And this is
00:14:09
something I think, you know, it would be
00:14:11
super ironic that this guy gets taken
00:14:14
down by emails.
00:14:20
>> You love that.
00:14:21
>> I feel like we're going to have
00:14:22
President JD Vance by the end of 2026.
00:14:26
>> I get it.
00:14:27
>> So, wait, hold on. You think this ends
00:14:28
his presidency prematurely?
00:14:30
>> Yes.
00:14:31
>> He'll be sick. He'll be
00:14:34
Yeah,
00:14:34
>> I do. I think he's not going to make it
00:14:36
to the end. Be careful what you wish
00:14:37
for.
00:14:38
>> Okay. Well, I still think that
00:14:40
>> that would So, I can see him being
00:14:43
impeached in Congress. He would need 66
00:14:46
votes or 67 in the Senate.
00:14:48
>> I don't mean like that. I just think
00:14:50
>> you mean he resigns.
00:14:51
>> I think he's sicker than we than we
00:14:53
realize. I think he's very robust
00:14:54
looking, but I think there's all manner
00:14:56
of I've seen more and more doctors like
00:14:59
this is like
00:15:00
>> Oh, you think it's a health issue?
00:15:01
>> I don't know. Look, his family stuck
00:15:03
around for a while being his dad stuck
00:15:06
around for a while with dementia. That's
00:15:08
for sure. But I do think there's I just
00:15:12
I don't know. I just feel like I think
00:15:14
they're going to try to give Vance an
00:15:16
attempt to be president. And uh I think
00:15:18
the I think that they'll run out of
00:15:20
reasons to keep him there. And I I think
00:15:23
if he loses badly in the midterms, I
00:15:26
think that's he's no no longer useful,
00:15:29
let's just say. And so I don't mean
00:15:31
killing or anything like that. I just
00:15:32
think he's old. He's just old. Scott, as
00:15:34
you said, biology is undefeated. Okay,
00:15:36
Scott. Um, uh, give us I I have one
00:15:39
more, but let Well, actually, I'll do
00:15:40
mine.
00:15:41
>> Sure.
00:15:41
>> I would like to see in politics the
00:15:43
shutting up of tech CEOs everywhere. I
00:15:46
mean, when have we seen like can you
00:15:48
imagine the head of Lockhee behaving
00:15:50
like Alex Karp did in that recent New
00:15:53
York Times thing with our favorite
00:15:54
Canadian, uh, Andrew Ross Circin? He
00:15:56
looked demented screaming on the stage.
00:15:59
Did you see that performance? Um
00:16:02
>> I something was like what was going on
00:16:04
there?
00:16:05
>> Well, they thought he was on cocaine. I
00:16:06
have no idea. He looked crazy. That's
00:16:08
all I know. Like, who knows? Um they
00:16:10
were making all kinds of cocaine jokes,
00:16:11
but um I he is not I don't believe
00:16:14
that's the case. And he's just like
00:16:15
that.
00:16:16
>> A little of the Bolivian marching
00:16:18
powder.
00:16:18
>> No, I just think he's just like a little
00:16:19
devil's dandruff.
00:16:20
>> My experience is he's just like that.
00:16:22
And now you're getting a [ __ ] taste
00:16:23
of what I've had to listen to over the
00:16:25
decades. But I think these people, like
00:16:27
if I see Jensen Wong in his stupid coat
00:16:29
anymore, like when did we when was the
00:16:31
head of Locked around all this time?
00:16:33
When was the head of like these people
00:16:34
need to sit down and shut up for a
00:16:37
little while? Like seriously, they just
00:16:40
can't stop making giant asses of
00:16:42
themselves almost continually. And so I
00:16:45
would predict they need to shut up. They
00:16:47
won't, but that's what I would like to
00:16:48
happen. What is your prediction for um
00:16:51
you have an interesting one about the
00:16:52
predictions market?
00:16:55
Yeah. So, well, one, I think the next
00:16:57
bailout is coming. Uh, there was a
00:16:58
bailout of the banks. Actually, I think
00:17:00
that was a good idea. There was a
00:17:01
bailout of the airlines, which was
00:17:02
socialism and stupid. We should have let
00:17:04
them go out of business. All these
00:17:05
airline CEOs who used all their excess
00:17:08
cash flow when things were good to do
00:17:09
stock buybacks and collect 150 million
00:17:11
in compensation. And then COVID hits and
00:17:14
we're all in this together and they got
00:17:16
bailouts. But the next bailout is going
00:17:18
to be the bailout of Sam Alman, Jensen
00:17:20
Hong, Sachi Nadala. Basically,
00:17:23
the S&P is now 40%, the magnificent 10.
00:17:27
Uh, Trump is only able to get away with
00:17:28
the [ __ ] he's getting away with because
00:17:30
the S&P is up 13%. So, his entire
00:17:33
presidency and our entire economy is now
00:17:35
one big giant bet on AI. There is no way
00:17:39
they can keep up with these
00:17:40
expectations. And so what they will do
00:17:41
is come to Washington hat in hand and
00:17:44
they will call it something else like a
00:17:46
ships act and they will have
00:17:47
governmentbacked debt purchases of these
00:17:49
chips in these data centers to prop up
00:17:52
an AI market.
00:17:53
>> Can we get Jensen Wong's leather coat in
00:17:56
exchange? I should have it.
00:17:58
>> It's about to become a multi- trillion
00:17:59
dollar leather coat.
00:18:00
>> But I mean every industry now the energy
00:18:04
industry 10% of the earnings call
00:18:05
mention mention AI. financials one in
00:18:09
five earnings calls are now talking
00:18:10
about it and also if you look at the big
00:18:13
the biggest tech stocks from peak to
00:18:16
trough Alphabet was down 65% Microsoft
00:18:19
70% Meta lost 3/4 of its value from 2021
00:18:22
to 2022 Apple lost 83% of its value in
00:18:26
the dot implosion Nvidia lost 90% in dot
00:18:30
Amazon lost 95% peaked to trough the
00:18:34
problem is is if if these companies do
00:18:36
what these companies do in a volatile
00:18:39
environment.
00:18:40
The economy goes into a tail spin and
00:18:42
Trump is no longer allowed to bomb or to
00:18:45
murder people in the water or send in a
00:18:47
mass secret police into American towns.
00:18:50
So, he will decide to prop up this
00:18:52
industry with what is effectively a
00:18:54
bailout that'll be positioned as growth,
00:18:57
but essentially this the next bailout is
00:19:00
coming. Poly Market and Khi I I just
00:19:03
can't get over how genius these
00:19:04
businesses are because you have the
00:19:06
ultimate u marketing and that is
00:19:09
whenever there's a big decision to be
00:19:11
made or or a big issue we we're starting
00:19:14
to look at what these companies think
00:19:16
>> except they can be so game Scott I'm so
00:19:18
nervous about the gaming aspect and kind
00:19:20
of the sick ass like let's bet how many
00:19:21
kids are die have died in this shooting
00:19:24
that kind of stuff. Well, oh no, there's
00:19:27
bigger concern. Well, okay, first off,
00:19:30
let's look at the opportunity for
00:19:31
insider trading.
00:19:32
>> It's getting down to will this pitch be
00:19:35
faster or slower than 90 mph?
00:19:38
>> So, okay, Eric Adams, will Eric Adams
00:19:40
drop out of the race in the next seven
00:19:41
days?
00:19:42
>> And they say, oh no, it's 3 to one. He
00:19:44
doesn't. If I'm Eric Adams and I'm
00:19:46
eventually going to drop out, why don't
00:19:48
I raise 10 million bucks and drop out
00:19:49
the next day and as a severance payment
00:19:51
collect $20 million?
00:19:53
>> Right. Exactly. I mean it's just and the
00:19:55
the unfortunate thing is most of us
00:19:57
don't have access in this insider
00:19:59
information. So we are on the wrong end
00:20:01
of a trade asymmetrically. And also when
00:20:03
states legalize gambling and this is
00:20:07
it's not really gambling. I like these
00:20:09
things. I don't I I can't decide if I
00:20:10
like these things or I don't like these
00:20:12
things.
00:20:12
>> I agree. I agree. Some of it's really
00:20:14
interesting. At the same time I'm like
00:20:15
so easy to game, so easy to go sick,
00:20:18
right? Like bet on.
00:20:19
>> Well, and again it's it's attempting to
00:20:21
legitimize gambling. you're not
00:20:23
investing here, you're gambling. But at
00:20:24
the same time, I just appreciate how
00:20:26
powerful these businesses are. Also, I'm
00:20:28
going to start incorporating either Poly
00:20:31
Market or Cali data into a lot of my
00:20:33
media. I just think it's fascinating
00:20:36
what the wisdom of crowds thinks. And if
00:20:37
you look at these things, they are
00:20:39
fantastic. They are fantastic prediction
00:20:42
engines. They usually get it. They
00:20:44
usually get it right. So,
00:20:45
>> or now, like, you know what I mean? I
00:20:47
feel like the Russian mob is like, "How
00:20:49
should we handle this? This is a perk.
00:20:51
>> Well, okay. Along those lines, the
00:20:54
majority of the bets in the New York
00:20:55
mayoral race came out of the Middle
00:20:57
East.
00:21:00
>> So, you don't think we're they're going
00:21:01
to start using because if you say mom
00:21:03
Donnie is up 95%. That is really good
00:21:06
for mom Donnie.
00:21:07
>> Yeah.
00:21:08
>> And so, why wouldn't you weigh in and
00:21:10
start manipulating these things,
00:21:12
>> right?
00:21:13
>> Anyways, and
00:21:14
>> pay attention people.
00:21:16
>> There is and also just the downside.
00:21:18
First off, my mom was a dosent at the
00:21:20
Bellagio Hotel.
00:21:21
>> I love that word dosent. Go ahead.
00:21:23
>> She used to come home armed with these
00:21:25
fun facts and one of them was kind of
00:21:26
sad is that gambling has the highest
00:21:28
suicide rate.
00:21:29
>> So one in seven men who are who gamble
00:21:32
are addicted. It's got the highest
00:21:34
suicide rate because if you develop an
00:21:36
addiction to meth, people start to
00:21:38
notice and they weigh in. You can
00:21:40
leverage your homestead your kids
00:21:42
college fund and nobody knows and people
00:21:44
feel as if they have no way out. In
00:21:46
addition, bankruptcies go up by a third
00:21:48
the moment a state legalizes gambling.
00:21:51
So there some real externalities here.
00:21:53
But having said that, I am fascinated by
00:21:55
these markets. It's going to be the vice
00:21:57
of the year is going to be the
00:21:59
predictions market. And I also think
00:22:01
that they will be two of the biggest one
00:22:04
or both of them is going to go public in
00:22:06
2026 and it's going to be one of the
00:22:08
biggest. It's going to be one of the
00:22:09
best IPOs of 26. These things are
00:22:11
phenomena.
00:22:12
>> Yeah. I just I'm like, can you see this
00:22:15
going so [ __ ] sideways? I'm going to
00:22:17
bet on if Cara or Scott is going to die
00:22:19
first
00:22:21
>> and then I'll kill you.
00:22:24
>> Well,
00:22:25
>> or Larara, I'll have Lara kill you, our
00:22:26
producer. For see what I mean? I'm
00:22:29
>> the opportunity for insider tra and is
00:22:31
it even insider trading? How does sports
00:22:33
betting? If you're a pitcher on your
00:22:35
last leg here and you're about to like
00:22:36
not make any more money and you're
00:22:37
finally up from triple A ball and you're
00:22:39
not going to make any more money,
00:22:40
>> you just have your brother in the stands
00:22:41
go pitch it slower than 90 mph on this
00:22:44
one. Pitch it faster,
00:22:46
>> right?
00:22:46
>> And you walk you can probably walk away
00:22:48
with another million bucks on that game.
00:22:50
And I'm not even sure if it's illegal
00:22:52
yet.
00:22:52
>> I like that you go to sports and you
00:22:54
don't go to murder murder like I do.
00:22:56
>> Yeah. I don't I think there's cheaper
00:22:58
ways to get someone killed probably, but
00:23:00
>> I know. just game everything's gamified
00:23:02
in a
00:23:02
>> but you want to talk about it's already
00:23:04
impacting okay Caesars
00:23:06
>> down 38% this year Vegas every Vegas
00:23:10
company that's publicly traded is down
00:23:12
between 19 and 38% this year because why
00:23:14
>> betting markets
00:23:15
>> oh and by the way I just love the fact
00:23:17
that we've lost $4 billion in Vegas
00:23:19
because Canadians are no longer going
00:23:21
but it's our manufacturing base has been
00:23:23
absolutely reinvigorated Jesus Christ
00:23:25
what [ __ ] idiots
00:23:26
>> [ __ ] idiots
00:23:27
>> by the way folks 80% of people don't
00:23:28
want to be in manufacturing you can't
00:23:30
bring your dog to the factory floor.
00:23:31
Anyway, where I was headed with this is
00:23:34
>> there's few there's fewer people in
00:23:36
Vegas because now Vegas is in you. Vegas
00:23:39
>> Vegas is everywhere now. So, you're
00:23:42
really going to see these firms struggle
00:23:43
and you're going to see an enormous
00:23:45
transition of capital.
00:23:46
>> Yeah. Though you can't get a massive
00:23:49
breakfast bar. That's true. Anyway, uh
00:23:51
for for $2. All right, Scott, let's go
00:23:54
on a quick break. We come back,
00:23:55
entertainment predictions.
00:23:58
Okay, Scott. Next up, we're talking
00:23:59
about media and entertainment. Last
00:24:00
year, you appreciate it would be a
00:24:02
banner year for podcast. Let's listen to
00:24:03
what I said about our favorite movie.
00:24:06
>> Wicked for Good was amazing. I have to
00:24:08
say
00:24:08
>> it's a play.
00:24:09
>> It's a movie. It's a sequel. It's like
00:24:11
going to be an enormous huge box office
00:24:14
this year.
00:24:16
>> Yeah, it's not quite It hasn't quite
00:24:17
reached this the first one, but yeah,
00:24:19
it's huge. Just so you know, I think
00:24:21
it's $375 million and and less good
00:24:25
songs. Both those chicks are just
00:24:26
[ __ ] awful.
00:24:28
>> No, they're not. That may be. I don't
00:24:30
care. I'm always right.
00:24:32
>> Oh my god, it's a helicopter.
00:24:33
>> We're in a quasi d demi parasocial
00:24:36
relation. These people and they weigh 45
00:24:38
[ __ ] pounds. Yeah, they're great role
00:24:40
models for $15.
00:24:41
>> That is I would say that is an issue
00:24:43
worth discussing. I don't usually like
00:24:44
to talk about people's looks, but in
00:24:46
that case,
00:24:47
>> they're disappearing.
00:24:48
>> All of them. The entire cast. It's
00:24:50
really weird. Anyway, uh I agree. It's
00:24:52
concerning. Let's say concerning. But
00:24:54
let me say I was right. I You were never
00:24:56
right about what's popular
00:24:58
>> about media. Oh no.
00:24:59
>> Except Pluribabus.
00:25:00
>> My prediction is that all World War II
00:25:02
and color documentaries are the people.
00:25:04
>> Okay, I understand Grant. But listen,
00:25:06
you're right about Pluribabus. Oh my
00:25:08
god.
00:25:08
>> Plurus is good.
00:25:09
>> Vince Gilligan or Gallagan. Vince
00:25:11
Gallian.
00:25:11
>> HDP. HDP and John Cena. I'm not We're
00:25:15
This is going in many.
00:25:16
>> HDP I think I'm on it. Is that human
00:25:18
growth hormone? No.
00:25:19
>> I mean I have longer erections, a little
00:25:21
stronger. See your doctor. See your
00:25:23
doctor. derived protein. You're not
00:25:24
caught up, I guess. Anyway,
00:25:26
>> human what? Oh, this is this is from
00:25:27
your secret show on CNN.
00:25:29
>> No, this is this is Plurbus.
00:25:32
>> Oh, Plurbus. Okay,
00:25:34
>> people. Soilent green is people. Anyway,
00:25:35
we're by the time this airs, we'll know
00:25:38
more. But let me just say it's also a
00:25:40
banner year for dispic lesbians on
00:25:43
television. So, that's really good.
00:25:45
Difficult lesbians are the trend and and
00:25:48
I and I sort of pioneered that. Anyway,
00:25:52
um,
00:25:52
>> speaking of lesbians, has Emily Rodicaus
00:25:54
asked about me?
00:25:55
>> Not yet. Not yet. Not yet. I'll let you
00:25:57
know. I'll let you know, though. Anyway,
00:25:58
probably sometime in
00:25:59
>> She's going to play it that way. Huh?
00:26:01
>> How about sometime in the 12th of Never?
00:26:03
>> She's going to play it that way. I
00:26:04
>> Scott, you've got a prediction about the
00:26:05
future of Hollywood. And so do I. You go
00:26:07
first.
00:26:08
>> Uh, okay. So, short short form video and
00:26:12
AI meteor strike Hollywood AI one,
00:26:14
especially if the Ellison's get a hold
00:26:16
of Warner. Uh, you have to wait 7
00:26:19
minutes after the Fantastic 4 just to
00:26:22
get through the credits. More people
00:26:23
worked on the Fantastic 4 than work at
00:26:26
Reddit and slightly fewer than
00:26:28
Palunteer. The means of production has
00:26:30
to come way down and AI is just going to
00:26:34
I mean everybody is so sentimental for
00:26:36
theaters. Theaters have not come back.
00:26:39
Basically, theaters are down by a third
00:26:41
since co. It just hasn't recovered.
00:26:43
You're also going to see 70% of
00:26:46
Americans 10 to 24 years old watch TV or
00:26:49
movies on YouTube or Tik Tok. And then
00:26:51
what's crazy is these um short form
00:26:54
video platforms. The Kids Diana Show has
00:26:58
137 million subscribers, which is uh I
00:27:01
think more subscribers than Disney Plus.
00:27:02
What's weird is that Meg Whitman and
00:27:04
Jeff Kzenberg might have been right
00:27:06
about short form video. They were just
00:27:08
kind of ahead of their time and didn't
00:27:09
have the capital. Mhm.
00:27:10
>> But we have trained our brains to be so
00:27:14
short form and dopey hungry that these
00:27:17
short form video series of three and six
00:27:20
minute little mini episodes out of China
00:27:23
seem to be taking off and getting real
00:27:24
share. But back to the original one, AI
00:27:27
is coming for Hollywood and all the
00:27:29
virtue signaling and and how precious
00:27:31
they are. It's not going to mean a
00:27:32
[ __ ] thing. Economics to your point
00:27:35
and capitalism will win out here. But
00:27:37
basically AI, which everyone is
00:27:40
expecting, is about to accelerate in
00:27:41
terms of reducing the cost of the means
00:27:43
of production in Hollywood. And B, I
00:27:46
think these short form video platforms
00:27:47
that I had not heard of before are about
00:27:50
to make a real dent. And just some of
00:27:52
the titles, my favorite titles of some
00:27:54
of the people who worked on the
00:27:56
Fantastic 4. Molly Cook was an assistant
00:27:58
data wrangler.
00:28:00
>> You know what? She's going to call you.
00:28:01
>> They had a home economist. They had I
00:28:03
mean, it's just it's just hilarious. Um,
00:28:06
vehicles art director, a junior petty
00:28:09
cash buyer. Oh, no. No. Olivia Olivia
00:28:12
Smurray was a food stylist.
00:28:15
>> Oh my god. Is it all women that you want
00:28:17
to get out of work? But go ahead. Go
00:28:18
ahead. Have a man. Have a man. Is there
00:28:21
a man in your
00:28:21
>> I don't see gender. I'm not looking at
00:28:23
this and going man or woman. You're
00:28:25
obsessed with sex and race.
00:28:28
>> Now, I think you're right about both.
00:28:30
Oh, food styling is also important. just
00:28:33
so but it will be all AIed. Just so you
00:28:35
know, food stylist, they're going to AI
00:28:37
this [ __ ] Um, but I would agree with
00:28:39
you on all both these things. You know
00:28:40
what's interesting? Many years ago,
00:28:42
there was a show called uh Quarter Life.
00:28:45
You've never heard of it. The guy who
00:28:46
did 30ome, Ed Zwick, I think that's who
00:28:48
did it.
00:28:49
>> That show,
00:28:50
>> right? 30ome. But he had a show that was
00:28:52
I think YouTube only um called Quarter
00:28:55
Life. And it was short 15minute shows.
00:28:57
And at the time it failed. But boy, I
00:29:00
remember thinking this is the way, you
00:29:01
know, and I same thing with Jeff um
00:29:04
Katzenberg. Like it was right. It just
00:29:06
was wrong at the time. But this quarter
00:29:08
life was really go back and find it if
00:29:10
you can because it was an attempt at
00:29:12
short form video drama at over these
00:29:15
quarter life was people who were 25
00:29:16
years old. So, and they were all
00:29:18
attractive and [ __ ] each other. But
00:29:20
um it was really interesting and it was
00:29:22
far too early for people's tastes to get
00:29:25
there. But now it has. I watch mostly uh
00:29:27
short form video now. I have to say.
00:29:29
>> Where do you watch it?
00:29:30
>> Oh, on on uh threads or Instagram
00:29:33
usually. I don't like Tik Tok. It's too
00:29:36
um but I I I like the pace of Instagram,
00:29:39
I have to say. Um anyway, if I'm
00:29:41
watching short form video and they're
00:29:42
quite good. I love
00:29:43
>> the sexiest thing you can say in your
00:29:45
30s is I already took tomorrow off.
00:29:50
>> Anyway, I have a prediction. It's it
00:29:52
sort of dubtales because of what Scott
00:29:53
was talking about and because the
00:29:55
economics just don't work. it they don't
00:29:57
work everybody Hollywood consolidation
00:30:00
just you know not just AI but how
00:30:03
everything is made is going to with
00:30:04
these new owners and there's going to be
00:30:06
more deals and I know you're all
00:30:08
horrified about Netflix but get ready my
00:30:10
friends there's so much going to happen
00:30:12
and there are questions of creativity
00:30:14
and how people get paid but there's just
00:30:16
going to be less people and h to make it
00:30:19
um and it's the end this is this is that
00:30:22
that moment for Hollywood there it
00:30:24
happened already but it's really
00:30:26
happening now and you're going to see
00:30:28
enormous consolidation. The government
00:30:29
could push it back as much as you want,
00:30:31
but you're not farmers, by the way.
00:30:33
You're not getting $12 billion in
00:30:34
bailouts the way Trump will do that. Um,
00:30:37
you will not get bailouts. You will just
00:30:40
be get gone. And so, I think this this
00:30:43
Netflix Warner thing is inevitable,
00:30:45
Paramount. If it doesn't get is going to
00:30:46
have to merge, Comcast's going to have
00:30:48
to buy something else. Disney's got to
00:30:49
move, you know, and all the tech
00:30:50
companies if they want to stay in this
00:30:52
area need more stuff for AI. Imagine a
00:30:55
world like Scott talks about this AI
00:30:56
meter like hey I like West Wing I'd like
00:30:59
another season like they can do that
00:31:02
they will be able to do that and it will
00:31:03
be at first stupid and then later be
00:31:05
very good and so you're going to see all
00:31:07
manner of stuff having to do with AI
00:31:09
being fed into all these things and you
00:31:11
know even though the Paramount people
00:31:13
can't give specifics of what's happening
00:31:15
because they haven't thought of it they
00:31:16
just like to say the word AI a lot over
00:31:17
and over again. This is an industry ripe
00:31:20
for this kind of thing. Too bad. I'm
00:31:22
sorry. I feel bad for you, but and
00:31:24
thanks for the movies. And by the way,
00:31:26
Wicked 375 million. Ricked. Okay.
00:31:29
Wicked, too.
00:31:30
>> Streaming is sort of been the zeitgeist
00:31:32
of my life. It used to be Netflix and
00:31:33
chill. And now my age, it's HBO Max and
00:31:35
lower your expectations.
00:31:38
>> You know, I think you're online a lot
00:31:39
more. You watch a lot of short form
00:31:40
video. I can tell. You know, you you put
00:31:43
them out a lot. And so do I. 100%. I
00:31:46
could watch I can't I can't sit for a
00:31:48
show now. I like to watch them on TV. I
00:31:50
have a harder time. Although again,
00:31:52
Plurabus, I love it.
00:31:53
>> Oh my god. I' I've been forced to watch
00:31:55
the worst program in the world. It's
00:31:57
with um Shiv from Succession about a
00:31:59
kidnapping.
00:32:00
>> Oh, I heard that was good.
00:32:02
>> Oh, it's awful. These people are so
00:32:03
awful. It's all these rich. It's like
00:32:05
it's like a Chamber of Commerce show on
00:32:08
everyone in Chicago is rich and has
00:32:09
amazing homes. It's like it's an ad for
00:32:11
Chicago.
00:32:12
>> Okay, but who forced you? Who has put
00:32:14
you a coffee or orange in front of me?
00:32:16
>> Someone keeps putting it on my [ __ ]
00:32:17
TV and I I get drawn into it.
00:32:20
Don't watch it.
00:32:21
>> And then and then and then I got sucked
00:32:24
into another one. The evil or the devil
00:32:25
inside of me where I got to give it
00:32:27
Claire Danes.
00:32:28
>> Oh yeah. The beast in me.
00:32:30
>> Her chin should be nominated for an
00:32:32
Oscar. Her chin starts vibrating when
00:32:34
she's emotional.
00:32:35
>> It's literally it is her such her go-to.
00:32:38
>> I love it. I love everything Claire
00:32:40
Jane's done is practically. Yeah.
00:32:42
Anyway.
00:32:43
>> Anyhow, I'm so sorry you're being forced
00:32:45
to watch these things. All right, Scott.
00:32:47
One someday you will be. Actually,
00:32:48
that's another trend. Uh, that will be
00:32:50
for next year. Uh, one more quick break
00:32:52
and then it's time for predictions.
00:32:54
Hosts choice. Okay, Scott. Now is the
00:32:57
time to make a prediction on whatever we
00:32:59
want. The world is our oysters. By the
00:33:01
way, you send oysters. We love them. Uh,
00:33:03
I'm going to go first. Okay. I'm going
00:33:05
to go first. Uh, as I said, as you
00:33:08
noted, Claire Danes on the beast in me.
00:33:09
You got Ria Seahhorn in uh Plurabus. Uh,
00:33:13
and there's a new hunting wives coming.
00:33:15
They're not just difficult. Lesbians are
00:33:18
murderous. Okay, there is gonna there's
00:33:21
going to be so much lesbian content.
00:33:23
Angry lesbians with guns, angry lesbians
00:33:26
who are upset, angry lesbians who are
00:33:28
fighting the hive mind. I just this is a
00:33:31
trend that I like. I like lesbians
00:33:34
running [ __ ] and taking names and
00:33:37
shutting people down. And I love Ria
00:33:40
Seahhorn on as Carol. Hello Carol is my
00:33:43
favorite character of all time. I
00:33:45
everyone's like, "Oh, she's such an
00:33:46
ass." And I'm like, I love her. So, more
00:33:49
angry, dispic. Go [ __ ] yourself lesbians
00:33:54
for 2026. That's how I feel. Thank you.
00:33:57
>> I know lesbians get divorced faster. Do
00:34:00
they show up on the second date with a
00:34:01
U-Haul?
00:34:02
>> Oh, stop it. Such an old trope. Now
00:34:04
we're angry with guns. You understand?
00:34:06
We're murderers and having a lot of sex.
00:34:08
>> I didn't know you guys dated. I thought
00:34:09
you just watched Riverdale hug for two
00:34:11
hours and then agreed never to see each
00:34:12
other again.
00:34:13
>> No, not these lesbians. Oh, no. Not
00:34:15
these lesbians. Go watch Hunting Wise.
00:34:17
Can you please put that on your thing?
00:34:19
>> I'm a big fan of uh streaming video with
00:34:21
lesbian content. Um
00:34:23
>> well, go watch it cuz it's sexy as [ __ ]
00:34:25
Let me just say yes. Who's in it?
00:34:28
>> Malin Arian and Britney Snow. There are
00:34:31
guns. There is a lot of lesbian sex. The
00:34:34
way kind you like.
00:34:35
>> I see it twice.
00:34:36
>> I'm just saying. I'm just saying. Angry
00:34:38
gun toteen
00:34:40
despectic. [ __ ] the hive mind. I don't
00:34:43
like Li AI. Lesbians are the trend of
00:34:47
2026. Thank you.
00:34:49
>> All right. Mine Mine's not as cool as
00:34:50
this. Um
00:34:52
>> uh best investment you don't have access
00:34:54
to is Tik Tok.
00:34:55
>> Oh, yeah.
00:34:56
>> Essentially, uh
00:34:58
>> did you get Sears? Have you gotten in
00:34:59
there yet?
00:34:59
>> Well, no. I'm a Democrat. So,
00:35:02
>> it's going to Dell. Uh some Saudi
00:35:04
person. I forget who it's going to, but
00:35:07
it's not going to it's not going to
00:35:08
anyone who wants it or anyone who's a
00:35:09
Democrat. They're basically Trump's
00:35:11
forcing them
00:35:12
>> to sell it for 14 billion. If you think
00:35:15
about the fact that 50% of the earnings
00:35:17
have to go back to China, it's
00:35:18
effectively a valuation of 28 billion.
00:35:20
If you assign the same multiple that you
00:35:22
would assign to Alphabet or Meta, it's
00:35:24
worth 120 billion. So effectively, these
00:35:27
guys are going to buy something and then
00:35:29
get 3 to 400% return within 12 months.
00:35:32
Um, this is pure socialism meets
00:35:35
cronyism meets autocracy.
00:35:37
>> Uh, but again, it's You know, it's
00:35:40
unfair for the Ellison's not to get
00:35:42
everything. Anyway, sorry.
00:35:44
>> There you go. Um,
00:35:45
>> that's a good one. So, you won't get
00:35:47
any. There's no way you can scooch your
00:35:48
way in there. You usually scoot your way
00:35:50
in.
00:35:51
>> No,
00:35:51
>> really.
00:35:52
>> Not on this one.
00:35:53
>> Oh, it's only for like
00:35:55
>> Friends of Trump. Uh,
00:35:57
>> literally ds. Yeah, it's um
00:36:01
>> Yeah,
00:36:02
>> amazing.
00:36:03
>> We don't have access.
00:36:04
>> You don't even get a little bit a little
00:36:05
taste.
00:36:05
>> Not Not even No, I I'm I'm allowed to be
00:36:08
on TikTok. Yeah, I'm
00:36:09
>> starting to [ __ ] hate Tik Tok, by the
00:36:11
way.
00:36:11
>> I got to tell you, that's another
00:36:13
prediction.
00:36:14
I think Mark Zuckerberg, it makes a
00:36:16
better product. I hate to say it, but he
00:36:17
does.
00:36:18
>> Yeah. You like threads and real
00:36:20
>> They're very pleasing. They're very
00:36:22
pleasant. I have a great time. I find
00:36:23
news. I I still like Blue Sky, too. But,
00:36:26
uh, I have to say, uh, I
00:36:28
>> I'm on Blue Sky almost never now. I
00:36:30
know. As
00:36:31
>> you're yell at you a lot. They yell at
00:36:32
you. It's I'm using
00:36:34
>> Do they yell at me? God, thank god I'm
00:36:35
not on there. I can't handle it right
00:36:36
now. Yeah, it's the left yelling at you
00:36:38
over there. The right is yelling us over
00:36:40
at Twitter. The right is actually
00:36:41
threatening us over at Twitter. I
00:36:44
dropped in the other I was like, "Oh,
00:36:45
you fuckers." Like, "Oh, go away. We
00:36:48
don't care about you. We broke up with
00:36:49
you."
00:36:49
>> So, just back to Tik Tok
00:36:51
>> US at the price that these investors,
00:36:54
these Republican donors are getting it.
00:36:56
It valuing Tik Tok US at less than this
00:36:59
company called Extra Space Storage,
00:37:01
7-Eleven, Carnival Cruises, Ryanire
00:37:05
>> or Kellocks. So, wow, what a great deal,
00:37:08
right?
00:37:08
>> And if you look at this thing again, if
00:37:11
you just do the math here, it's just
00:37:13
it's just insane what they're going to
00:37:15
get to buy this thing at. Anyways, I'm
00:37:17
really pissed off about this.
00:37:18
>> Let's please by all means give Warner to
00:37:20
the Ellisons because they don't get
00:37:21
enough.
00:37:22
>> Their their US ad revenue is 12 billion.
00:37:24
You get a a 10x multiple price of sales
00:37:27
of Alphabet, which isn't growing as fast
00:37:28
as Tik Tok US. It's worth $120 billion,
00:37:31
and they're getting it for 28. These
00:37:33
grifters, these gri Scott's mad he's not
00:37:36
in on it really. Anyway,
00:37:39
>> uh Scott, that is the show. Your
00:37:41
instructions are to go watch Hunting
00:37:43
Wise. You'll be happy. Um please read us
00:37:46
out.
00:37:46
>> Today's show was produced by Larara
00:37:48
Neon, Zoe Marcus, Taylor Griffin, and
00:37:49
Christine Driscoll. Ernie Todd
00:37:51
engineered this episode. Ronnie Padaro
00:37:53
edited the video. Thanks also to Drew
00:37:55
Bros, Miss Vera, and Dan Shalon to Shak
00:37:56
Cross Vox Media's executive producer
00:37:58
podcast. Make sure to follow Pivot on
00:38:00
your favorite podcast platform. Thanks
00:38:02
for listening to Pivot from New York
00:38:03
Magazine and Vox Media. You can
00:38:04
subscribe to the magazine nymag.com/pod.
00:38:07
We'll be back later this week for
00:38:08
another breakdown of all things tech and
00:38:10
business.
00:38:10
>> And Scott forgot in that energetic uh
00:38:14
departure here of this episode. Happy
00:38:15
New Year to everybody. We've had a great
00:38:17
year this year at Pivot and we love you
00:38:19
and we look forward to more in 2026.