What happens when a Gen Z podcast host from New York City goes head-to-head with a seasoned analyst on AI, economic angst, and the generational wealth gap?

In this episode of The Horse’s Mouth, Phil Fersht sits down with Ed Elson, the Gen Z co-host of the Prof G Markets podcast with Scott Galloway. Ed brings his sharp, fast-talking take on why Gen Z feels economically betrayed, why AI is fueling more layoffs than we think, and why America is facing a generational reckoning.

This is not your average macroeconomic chat, expect rants, facts, and fire. From sky-high college costs and housing absurdity to the real reason Gen Z isn’t having kids. Ed and Phil go all in on the emotional and economic realities of a generation trying to survive the age of AI and market chaos.

What You’ll Hear in 30 Minutes

Why Gen Z is worse off than their parents and pissed about it
The AI lie: It’s not co-piloting, it’s replacing
Why entry-level jobs are vanishing and who’s to blame
The illusion of opportunity in a private AI economy
Why Google might win the long game, and OpenAI may implode
How New York became unaffordable for all but the 1%
Why the AI stock narrative is at a breaking point

Guest Snapshots

Ed Elson is a business writer, analyst, and co-host of the Prof G Markets podcast with Scott Galloway. He is also host of the First Time Founders podcast. In 2024 he won the Webby honoree award for “Best Co-Host” and won the Webby Award for “Best Business Podcast” in 2025. His podcast has consistently ranked number one in Business in the U.S. His work has been featured in multiple New York Times bestsellers, including The Algebra of Wealth, Adrift, and Siege. He has appeared on various news outlets, including MSNBC and Financial Times. In 2021 he was the commencement speaker for Princeton University, where he graduated summa cum laude with a degree in Classics.

Timestamps

00:00 – Welcome and Intro: Meet Ed Elson
01:42 – Gen Z in NYC: Privilege vs. Reality
04:45 – The K-Shaped Economy: Winners and Left Behind
07:10 – Housing and College: Gen Z’s Cost Crisis
09:50 – Parents Paying the Bills: Dependency Metrics
11:30 – AI and the Disappearing Entry-Level Job
15:00 – Who Owns the AI Revolution (Hint: Not You)
19:30 – OpenAI’s “Code Red” vs Google’s Quiet Comeback
25:00 – AI Market Whiplash: Bubbles, Circular Deals, and Hype Fatigue
27:30 – From Exuberance to Sobriety: The New AI Narrative
33:00 – Why Google’s Under-the-Radar Assets Matter
34:45 – Wrap-Up: See Ed at the HFS Summit in NYC

Explore More

Prof G Markets Podcast: https://profgmedia.com/podcasts/
Ed Elson on LinkedIn: https://www.linkedin.com/in/ed-elson-314283158/
Phil Fersht on LinkedIn: https://www.linkedin.com/in/pfersht/
HFS Research: https://www.hfsresearch.com/
The Horse’s Mouth Podcast Series: https://horsesmouthpodcast.com/