AI Spending Spree, Crypto Winter, and Kara's Message to Jeff Bezos

Summary

Pivot Podcast Summary

Episode Title: AI Spending Spree, Crypto Winter, and Kara's Message to Jeff Bezos
Hosts: Kara Swisher & Scott Galloway
Date: February 10, 2026

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Overview

In this episode, Kara Swisher and Scott Galloway deliver sharp insights and signature banter on the biggest moves in tech, media, and economics. They tackle Amazon’s enormous AI/robotics investment, the new “crypto winter,” the state of Big Tech resistance campaigns, advertising—and culture wars—anchored around the Super Bowl, and, most pointedly, Kara’s direct message to Jeff Bezos about his media missteps. The episode offers a fast-paced blend of analysis, tough questions, and clever asides.

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Key Discussion Points & Insights

1. The Big Tech Resistance Movement

• Scott’s Unsubscribe Campaign:
  • Scott details his ongoing campaign encouraging unsubscribing from Big Tech services as a way to voice consumer pushback.
  • Initial surge: ~100,000 unique visits per day, trending back up after a strategic media push.
  • Conversion is “two to five unsubscribes per visitor,” translating to potentially $250M in Big Tech market cap impact.
  • Scott: "I think I can notionally take about a quarter of a billion dollars in market cap out of these companies.” [05:53]
  • Kara: “It gives you permission to do something you kind of were gonna do and it gives you a framework and instructions.” [06:10]
• Media Tactics: Scott discusses traditional vs. new media in driving protest effectiveness; media shaming still works for effecting corporate change.

2. Super Bowl Culture: Advertising, Halftime, and Social Contest

• AI and Advertising:
  • AI dominated Super Bowl ad spends, echoing past tech booms: 15 of 66 ads were AI-focused—comparable to the tech-heavy dot-com and crypto eras.
  • Scott: “If you look at economic history as a ratio of tech ads being above a certain amount, it implies this year is when AI crashes.” [13:40]
• Ad & Halftime Reactions:
  • Kara and Scott debate the impact, tone, and authenticity of the ads, from “virtue signaling” to nostalgia to brilliant. Kara singles out the AnthropiC AI spots and finds humor in even the most corny productions.
  • The Bad Bunny halftime show is lauded for its joy, innovation, and cultural significance.
  • Kara: “For them to attack it, it shows just what a bunch of fucking losers they are… so beautiful and so life affirming and forward thinking and it is where our country is in a lot of ways.” [17:04]
  • Scott: "The NFL is investing in the future because more than 50% for the first time ever of people under the age of 18 are nonwhite. ... Anyone can come to America and be an American. And that's uniquely what makes America America." [16:15]

3. Market Trends: AI Spending Spree

• Amazon’s $200B AI Bet:
  • Amazon plans a massive 60% capex increase, eyeing $200B in 2026 for AI, chips, robotics, and satellite buildout.
  • This matches Apple, Meta, Google, and Microsoft in a collective $660B splurge—triple global pharma R&D, and more than the Apollo and ISS programs.
  • Scott: "The problem with our economy ... there’s just a small number of companies that can allocate this sort of capital." [30:35]
  • Only Meta is showing immediate, reportable returns; Amazon’s unique analog+digital needs rationalize some of the spend but worry investors.
  • Fears of further market consolidation: "Once it's spent, nobody can catch them ever, ever, ever, ever." [32:32]
• Socioeconomic Impact:
  • AI may be a job eliminator in some sectors, an upskilling tool in others. Example: ATMs didn't kill bank tellers but transformed their roles.
  • Winner-take-most dynamics risk creating even more unassailable tech giants.

4. Crypto Winter Returns

• Market Downturn:
  • Bitcoin suffers its worst weekly crash in 3+ years, down ~45% from its 2025 high; MicroStrategy, Coinbase, and mining stocks plummet.
  • Scott: “I am easily the worst crypto investor in history. ... I bought it at 14 and within 45 days I sold it at $4.50.” [20:44]
  • Treasury signals no bailout for crypto; Trump White House delivered full industry deregulation, but the market still tanked.
  • Investor Advice: Scott leans toward a diversified, low-exposure stake in BTC only: “I would argue that a little bit of money, 1 to 3% of your portfolio in bitcoin may not be a bad idea.” [23:10]
  • Critique of “shitcoins” as a greater fool theory.

5. Corporate Tax Policy & Political Influence

• Amazon's Tax Bill Shrinking:
  • Amazon’s tax liability fell from $9B to $1.2B year-over-year, despite soaring profits—thanks to Trump's tax code overhaul.
  • Kara: “I can’t believe they went from 9 billion to 1.2 billion. That is savings.” [36:15]
  • Scott: "As a percentage of GDP, corporate taxes have never been lower. ... corporate profits have never been a higher percentage of GDP." [35:24]
  • Both hosts argue this comes at the direct expense of future generations.

6. Media News: Washington Post Crisis & Bezos Critique

• Bezos Under Fire:
  • Recent layoffs, leadership turnover, and Bezos' silence have battered morale and traffic.
  • Kara: “Jeff Bezos, let me speak to you directly. ... you don’t know squat about media at all. And to act like you’re an expert in this is really exhausting. And you’re not. You suck at it.” [42:54]
  • Discussion of business realities: Good journalism isn’t sustainable if it isn’t a good business.
  • Speculation: Is the Post fits for bankruptcy or acquisition by Bloomberg, NYT, WSJ, or another media house?
  • Scott: “No solution here is elegant… It’s almost a perfect candidate for a prepackaged bankruptcy.” [42:10]

7. Media Mergers, Political Leverage, and Regulatory Capture

• Trump’s Favoritism:
  • Trump blesses the Nexstar–Tegna merger, which could reach 80% of U.S. households—well above FCC limits.
  • Kara notes hypocrisy: “They’re allowing this merger and then opposing the Netflix one. … Every time they turn around, they like one thing but not the other.” [51:54]
  • Broad critique of politicization of antitrust, with both supporting more trust-busting, not consolidation.
• Netflix/Warner Bros and FCC/DOJ Politics:
  • Trump and GOP targeting perceived “media bias” even as Ellison-backed deal threatens mass layoffs and AI replacement in entertainment.
  • Scott: “Media companies are allowed to have a viewpoint. ... Netflix, as far as I can tell, is the most apolitical of all of them.” [53:13]

8. Higher Education – Access and Costs

• Scarcity and Rising Tuition:
  • Scott riffs on early-decision tactics and lack of competitive pressure among U.S. universities driving up costs.
  • Scott: "Our markets have become way too consolidated and the result is they have way too much... You know what we Have. We have two good schools in every major city. We need five." [57:47]
  • Both hosts bemoan how middle-class families are being squeezed, and how the system reinforces generational inequality.

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Notable Quotes & Memorable Moments

• On the Post-Bezos Era:
  • Kara to Bezos: “You really need to do something else and not sell it to a hedge fund or the wrong owners. Just do the right thing. Just for the last time, do the right thing.” [47:07]
• Scott's Cheeky Banter on Resistance Campaign:
  • “No, I'm not. I'm not a whore. I'm a horror. I'm a hoer. I'm a hoah.” [02:45]
• On the Bad Bunny Halftime Show:
  • “Let him sing, let him cook.” (Scott, [11:07])
• On the Culture Wars:
  • “They're so butthurt. Because they are not. The culture war is. They're not winning it. Nobody wants to watch Kid Rock.” (Kara, [16:15])
• On AI Investment:
  • “It's the equivalent of spending about $2 billion a day on AI.” (Scott, [31:18])
• On the Failure of American Corporate Tax Policy:
  • “The 3,600 paces, one by one. Kind of fuck the middle class.” (Scott, [36:33])
• On Tech and Economic Trends:
  • “If you look at economic history as a ratio ... this is when AI crashes.” (Scott, [13:40])
• On Antitrust:
  • “We need to go the other way.... You can't have three chicken companies, you can't have three pharmaceutical companies, you can't have four streaming media platforms. … You need to break all of these guys up.” (Scott, [52:17])
• On Education:
  • “How on earth does any middle class family send a good but not freakishly remarkable kid to college these days? How does that happen?” (Scott, [59:14])
• On Love as Public Policy:
  • “It sounds corny. It’s love. ... If any sort of discrimination is stopping people from loving each other ... we need to stop it.” (Scott, [65:00])

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Timestamps for Key Segments

• Resistance & Unsubscribe Update: 03:00–08:30
• Super Bowl Ad Breakdown: 09:43–14:13, 17:04–18:39
• AI and Market Capital Discussion: 29:16–36:33
• Crypto Winter Analysis: 19:45–24:27
• Corporate Taxes and Political Influence: 35:24–38:25
• Washington Post & Media Business: 38:25–47:41
• Mergers, Antitrust, Regulatory Politics: 50:52–56:48
• Higher Education Rant: 57:47–61:33
• Wins & Fails – Love, Media, Trump’s Rhetoric: 61:33–71:33

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Tone

The conversation blends incisive, data-driven analysis with wry, occasionally profane humor. Kara’s acerbic directness is counterbalanced by Scott’s satirical jabs and earnest economic takes. The episode is rich in skepticism toward Big Tech, Wall Street hype cycles, and political hypocrisy, with a recurring undercurrent of concern for social and generational fairness.

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Summary Takeaways

• Big Tech’s new arms race is reshaping the entire economy and will entrench them further unless checked by regulatory will.
• Crypto markets are in chaos despite prior deregulation—speculation is no substitute for a resilient investment strategy.
• The future of legacy media (especially the Washington Post) hinges on leadership that understands both creative and business imperatives, not just data, not just cost cuts.
• Political favoritism in mergers is rampant—true antitrust, not consolidation, should be a policy priority.
• Cultural battlegrounds (like the Super Bowl) show who is winning America’s future—hint: it’s not the aggrieved culture warriors.
• Higher education and housing systems are increasingly rigged in favor of entrenched interests—deep reforms are needed.
• Love and dignity—at every scale, including economic policy—are worth defending and prioritizing.

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Final Word

This high-density, wide-ranging episode offers everything from sharp investment analysis to media navel-gazing to old-school rants, proving once again that when it comes to tech, media, and business, no one banters (or bickers) quite like Kara & Scott.

Transcript

[Kara Swisher]

This episode is brought to you by.

[Scott Galloway]

On Investing, an original podcast from Charles Schwab.

[Kara Swisher]

I'm Kathy Jones, Schwab's chief fixed income strategist. And I'm Liz Ann Saunders, Schwab's chief investment strategist. Between us, we have decades of experience studying the indicators that drive the economy and how they can have a direct impact on your investments. We know that investors have a lot.

[Scott Galloway]

Of questions about the markets and the economy, and we're here to help.

[Kara Swisher]

So download the latest episode and [e-mail] oninvesting or wherever you get your podcasts.

[Scott Galloway]

Support for the show comes from coreweave. Everywhere you look, AI is expanding what we thought was possible. And at the center of it all is coreweave. Medical research and diagnosis, education, complex visual effects for movies, science and technology breakthroughs. CoreWeave powers AI pioneers around the world with purpose built tech building what's never been built before. CoreWeave Cloud is the essential cloud for AI. Ready for Anything, Ready for AI to learn more about how CoreWeave powers the world's best AI, go to CoreWeave.com ReadyFor Anything Foreign.

[Kara Swisher]

Rapinoe Here this week on A touch more, Gotham FC's Rose Lavelle joins us to talk about FIFA's very first Champions cup, her incredible year of wins, and some of her greatest pranks of all time. Unfortunately, on yours truly. Plus, with the WNBA CBA negotiations still stalled, I gotta ask the question, is it time to worry? Check out the latest episode of the Touch More wherever you get your podcasts and on YouTube. Jeff Bezos, let me speak to you directly. I don't like you. You don't like me. So what? Hi everyone, this is Pivot from New York Magazine and the Vox Media Podcast network. I'm Kara Swisher.

[Scott Galloway]

And I'm Scott Galloway.

[Kara Swisher]

Go Seahawks.

[Scott Galloway]

You like the Seahawks?

[Kara Swisher]

I like Jody Allen, the owner sister, Paul Allen. I know her a tiny bit. I Paul, her brother who died who was one of the Microsoft founders. Just cool lady. And I can't stand Robert Kraft. I think he's a terrible person. The whole Katz family was for the Patriots. It's only because they live there. Nobody likes Robert Kraft. So I was happy about that. I like the Seahawks.

[Scott Galloway]

Well, I'm happy you're happy. The thing that summarized how I feel about it was the Elmo account said I hope both teams have a really fun time. That's about how much I care about the Super Bowl. And the other one was Elmo, said he's not a Bad bunny. He's a good bunny.

[Kara Swisher]

He's a good bunny.

[Scott Galloway]

That's.

[Kara Swisher]

And Maga lost his fucking mind. We'll get to that. But first, let's have a little bit of Resist and Unsubscribe. How's it going, Scott? You everywhere. You're like. You are like the village whore, as they say, but go ahead.

[Scott Galloway]

No, I'm not. I'm not a whore. I'm a horror. I'm a hoer. I'm a hoah.

[Kara Swisher]

You are everywhere. We have a montage of Scott everywhere. Let's check it out. Resist and unsubscribe.

[Scott Galloway]

Resist and unsubscribe.

[Kara Swisher]

Expl.

[Scott Galloway]

Why I should unsubscribe from Amazon Prime. If you really want to hurt or send a message to the President, what he does listen to is the following. If you look at the times when he has really checked back, immediately responded and pulled back, it's been when one or two things has happened. The bond market yields have spiked or the S and P has gone down. This is when he backed off of his plans to annex Greenland. It's when he's backed off of tariffs. When you go after Big Tech platforms with just a small decline in spending, this is what moves the market. I think the string we can pull here is to go after the subscription revenues of Big Tech that now represents 40% of the S and P. You're hitting them with a $10,000 decrease in market cap with just one subscription cancellation. So this is a chance to go after the soft tissue of Big Tech whose leaders the president appears to be listening to.

[Kara Swisher]

Soft tissue you make hard Tell me so tell me where we are.

[Scott Galloway]

Came out of the gate strong. We're getting about 100,000 uniques a day. And I asked ChatGPT if I wanted to get a hundred thousand uniques with no paid or what would it cost me to drive 100,000 people to the.

[Kara Swisher]

But go ahead.

[Scott Galloway]

It was interesting. It said 100 to 200,000 for the site, but it would take four to $5 million. So we're getting quote unquote, $45 million in traffic to the site with. And I haven't paid a dime for anything.

[Kara Swisher]

No, just your time and your outcome.

[Scott Galloway]

But it started going down earlier in the week. So I did some research on the bus strike in Alabama and then the Kimmel thing, and what it ended up was that the study from Kellogg, which I'm really into about protests that are effective versus those that aren't, is the unsubscribed to Disney were Actually declining Dramat. The thing that got Disney to reverse course was a ton of media that was shaming them and creating dissent, and that the media that impacted that was traditional media. So I decided on Tuesday I was going to get on as much traditional media as I could, and I was able to do it. And then all of a sudden, the site visits are now back to about 100,000. But just to do the math, a good e commerce site gets 2 to 4% conversion. This gets more because these are people just coming to the site. People are unsubscribing two to five platforms, so let's call it three. So I'm thinking I'm getting about 10,000 unsubscribes a day or 300,000 subscribes over the course of. Anyways, I've done the math here. I think I can notionally take about a quarter of a billion dollars in market cap out of these companies. And does that change anything? It doesn't, but it's irritating. It's a voice in the choir. And I asked ChatGPT what it thought of the resistance movement so far. A one is you throw a party, no one shows up, it damages your reputation, makes other protests less successful. And 10 is the president and Sam Altman are, you know, forced to scale back some of this stuff. And it said right now you're at a six. And that is people in product management teams are probably talking about it, but not the executives yet.

[Kara Swisher]

Oh, they are.

[Scott Galloway]

And I thought that was sort of a fairly honest appraisal of where we are. But, yeah, I've been all over the place.

[Kara Swisher]

I've heard from a lot. My sons know about it. Like, I'm just telling you, it's got a lot more. I'm getting texts from people I haven't heard from in a while. So it's interesting. They all like it because here's why you can do something, right? Like, I can do that. That's easy, right? It's not easy. I just. I should do that. Like, it gives you permission to do something you kind of were gonna do and it gives you a framework and instructions. Right. So that's why it's successful, I think, in that regard. I think you have to do some more podcasts, maybe. Possibly.

[Scott Galloway]

Yeah.

[Kara Swisher]

Maybe Joe Rogan. That's where I would go.

[Scott Galloway]

Yeah. Well, Rogan has invited me, but yeah, next week. This week was traditional media. I'm sorry, Last week was traditional media. This week I'll start doing the AU Vaughan. Those people, more pods and stuff like that. So, yeah, I need to do. I was just on Piers Morgan and that digressed into a food fight with some ultra conservative gu. Calling me desperate and trying to tank the US Economy because we lost the election.

[Kara Swisher]

Yeah, that's what you're doing, idiots.

[Scott Galloway]

But anyways, yeah, I think you're right. I think I have to not food fight people.

[Kara Swisher]

Don't do the food fights. Don't go on any of those. Like, yeah, I'm not going to fight. I think you should go on like a Bret Baier or someone like that would be useful. But. Or any of the more reasonable people over there. Not a handy. Because it's a food fight. You don't need a food fight for this. You need a. Just let me explain it to you. I think Rogan would be good. Theo Vaughan, any of those people. And they like you.

[Scott Galloway]

Right?

[Kara Swisher]

Right. Go on the. Let them go on Mel's thing. Go on. Like, go on.

[Scott Galloway]

Yeah, but Mel makes you come up to Boston. That's the problem. Mel invited me on I really like Mel's podcast.

[Kara Swisher]

Then you have to hug everybody.

[Scott Galloway]

So I was invited to go on the PBD podcast. But similar to Mel, he makes you come to him and he's in Fort Lauderdale, so I don't know. I should probably make the effort.

[Kara Swisher]

Oh, not that guy. Well, he is constantly wrong.

[Scott Galloway]

If you want to be part of the resistance, you have to go behind anyone.

[Kara Swisher]

He's going to do a food fight with you. Whatever. You're going to end up doing a stupid food fight. You need to go on people that want to listen. And we'll have a normal debate with you. But not like, ooh, you don't want to be used as a chew toy for the. Right on this one. I'm sorry. It just doesn't.

[Scott Galloway]

Chew toy for the ride.

[Kara Swisher]

Yeah.

[Scott Galloway]

Yeah, I like that.

[Kara Swisher]

So I don't know. Well, I'll think of more ideas. I have some more ideas and stunts. I mean, you'd be better off on a Mr. Beast or something where there's more. That kind of stuff.

[Scott Galloway]

Like, just one of the. One of the ground zero CEOs called me Saturday morning, and they're so good. They're so smart. They're just like, I just want to understand it better. How are you? What could we do better? And like, I got off the phone and I'm like, maybe I should take them off the list. I'm like, oh, my God.

[Kara Swisher]

It's what.

[Scott Galloway]

It's what they do. It's what they do.

[Kara Swisher]

You start massaging your feet. That's what they're doing, they're massaging your feet. They're not like.

[Scott Galloway]

They're like, you know, we have some disagreements, but I really respect what you're trying to do here, Scott. I'm like, oh, my gosh, I saw the post.

[Kara Swisher]

Made you one of the 50.

[Scott Galloway]

You gotta believe I was number 49 right there. But hold on.

[Kara Swisher]

Oh, they're after you. They want to massage your face.

[Scott Galloway]

Kai Trump is one of the. I didn't even know there was a Kai in the Trump family.

[Kara Swisher]

Yeah, she's a good golfer. I guess that's fine.

[Scott Galloway]

Yeah, it's a pretty. It's a pretty random list.

[Kara Swisher]

You know what I say? You could smile more. You could smile more. No smiles in those pictures.

[Scott Galloway]

No. The reason I have a hundred thousand dollars in veneers is so I don't have to fucking smile.

[Kara Swisher]

I understand. I was just using the lady thing anyway. Let's get to the super bowl anyway. I'll think of more ideas. I'll think of.

[Scott Galloway]

I appreciate that.

[Kara Swisher]

More stunts. More stunts. We could. Let's figure out a stunt for south by Southwest, something like that to keep it going. That's coming up. You didn't watch the super bowl, right?

[Scott Galloway]

No, no. I have almost no interest in the super bowl, so.

[Kara Swisher]

Did you watch any. You watched the ads on other places where they have.

[Scott Galloway]

I watched some of the ads that people sent to me.

[Kara Swisher]

Yeah. Many of them stand out. I still like the anthropic ones.

[Scott Galloway]

I have to say, I thought they won the day. I didn't like the one on the Jewish kid being bullied.

[Kara Swisher]

You didn't?

[Scott Galloway]

I didn't. I don't.

[Kara Swisher]

Two virtue signaling.

[Scott Galloway]

I think there are better, more effective ways to talk about the risks of antisemitism. I actually don't. In a weird way, I feel like it almost normalizes it or raises the prospect of bullying a Jewish kid.

[Kara Swisher]

Little after school. Special kind of tone, that kind of thing.

[Scott Galloway]

Yeah. I don't know. I'm so far out of it, but I do see my kids at school. Shit, I don't know. This is like a. It's so funny what I noticed with. I don't know if you've noticed this. I went to my kid's school when he was a seventh grader in middle school, and there were ninth graders coming down the hall, and I was way behind him. And I thought, oh, this can be interesting. In the seventh grade, if I ran into ninth graders in an unsupervised environment, they would pants me and throw me in the trash and Take my lunch money. And instead, now they're like, hey, little man. And they high five them. I think things have changed a lot for some people in school.

[Kara Swisher]

Yeah.

[Scott Galloway]

Yeah. I don't anyways. But the ads are always fun to watch. I don't. I just could. The whole Bad Bunny thing. I'm like, he's the most popular entertainer in the world. Let him sing, let him cook.

[Kara Swisher]

We'll get to Bad Bunny in a second. But my favorite. I liked. I really liked the anthropic ads. I like the L Fad. I like the funny ones. The elf ad. There's a whole bunch of them that were super funny, and I prefer those. And of course, I have to say, the lay's potato chip ad got me. Got me, got me.

[Scott Galloway]

Oh, God. I thought that was so fucking ridiculous.

[Kara Swisher]

I know, but it got me. I agree.

[Scott Galloway]

I knew it was the family farm. We fetishized manufacturing and farmers. The family farm is a corporation that's bought out all these little farmers 30 years ago.

[Kara Swisher]

And yet it got me. I did. I was like, don't. Don't own.

[Scott Galloway]

How many college grad girls do you think are trying to help dad with the family?

[Kara Swisher]

I'm so taught to like.

[Scott Galloway]

Right? Yeah.

[Kara Swisher]

Yeah.

[Scott Galloway]

She's in PR for Prada, dating a hedge fund manager, and her father's put her through Hollywood and she's hoping to get a miniseries, but no, she's gonna go home to Iowa to farm with.

[Kara Swisher]

Her and wear a Carhartt. She had a beautiful. That Carhartt didn't have a speck of fucking dust on it. Did you notice that? She had like.

[Scott Galloway]

It was a Ralph Lauren ad.

[Podcast Advertiser/Host]

I know, I know.

[Scott Galloway]

Nothing to do with the family, but.

[Kara Swisher]

The potato chips are delicious. Let me just say, I like a lay's potato chip. They're quite good. They're good chips. They're a good chip. They're a fine chip. I'm trying to think which other one was funny. I didn't like the really good. I didn't like the Emma Stone one or the George Clooney one. They were weird. I don't want the weird ones. I like the funny ones. Like the Instacart. I thought the elf one was funny. I will have to say the Jesus one was good. The Christian, like, Jesus knows. I thought it was.

[Scott Galloway]

Oh, those are always nice.

[Kara Swisher]

Not always. That one was well done.

[Scott Galloway]

No, I thought the really powerful one. I don't know if it's the same people that Jesus washed their feet. That one. Remember that from a few years ago. This is A different one. Yeah, that kind of reminds me. And it's not totally related, but just FYI, Donald Trump is mentioned more times in the Epstein files than Jesus is mentioned in the Bible. Just saying. Or that the word meth is said in all eight seasons of Breaking Bad. Yeah, but anyways, not related.

[Kara Swisher]

Not related. Anyway, they were decent ads. They weren't. I would say the anthropic still head and friggin shoulders, open air had one that was somewhat effective a little bit, I guess.

[Scott Galloway]

And that was good.

[Kara Swisher]

It was solid. But not like the anthropic. They got knocked out by anthropic.

[Scott Galloway]

But if the thing I looked at or the only kind of insider thing I found really interesting is if you look at the ads, a quarter of them were AI. 15 of 66 were AI. The last time tech was as dominant in the super bowl in advertising. There's been two times in the last 50 years.

[Kara Swisher]

Oh, when they all went out of business.

[Scott Galloway]

One was in 2022 when it was called the Crypto bowl and it was Binance and ftx. And look what in that year. That was the year crypto blew up and there were a ton of bankruptcies. And then the time before that. What year?

[Kara Swisher]

The money coming out of my butt year. Remember that one?

[Scott Galloway]

It was 2000, January 2000. Quarter of the ads were from.com.com and the like. And look what happened. So if you look at economic history as a ratio or as the ratio of tech ads being above a certain amount, it implies this year is when AI crashes.

[Kara Swisher]

Yeah. I'll tell you when I hate. It was in my time. Tyson 1. I'm sorry. Just like it was my government money, like it was my dollars paying for Mike Tyson who has issues of his own to tell me to eat an apple. And that fat people are loathsome. I'm sorry, that was really grotesque.

[Scott Galloway]

I've met Mike Tyson. He's a chain smoker, perhaps.

[Kara Swisher]

I know. I was literally like, that's my fucking tax dollars telling me to eat an apple. Thanks. That was really gross. And of course these Maha people are such. You know, it was all their friends that made the ad. And of course, Brett Ratner was the director of sexual harasser with someone convicted of brain.

[Scott Galloway]

I think that's them waving their middle finger in our face, purposely trying to.

[Kara Swisher]

That's my money. That's my. Like, that's my money. Cut it out. Don't tell me to eat an apple, but let me just focus on the bad Bunny halftime show. It knocked it out of the park. With a projected 128 million viewers. Apple was the one did it and Roc Nation was the producer. They've been doing. That's. Jay Z's group has been doing a lot of the really great super bowl ones. And so Jay Z's been in charge of picking super bowl halftime for the last seven years. They've been really good. Turning Point usa, of course, had a live stream of an all American show featuring Kid Rock who looked like he was lip syncing. It seemed the reaction and re reaction to Bad Bunny show was so joyful and fun and it was so full of. If you wanted to go into it and look at the layers, you know, he's such an artist. Like he's. He's not just.

[Scott Galloway]

He's the biggest artist in the world.

[Kara Swisher]

But not just that it was so full of stuff, but you could also just enjoy it if you didn't know it was hopeful.

[Scott Galloway]

It was fun.

[Kara Swisher]

Right? And there was all.

[Scott Galloway]

And I realized, like, people ask me what I thought of the performance, I'm like, it's not for me if Tom Petty or George Michael can't be there, which they can't. But what I realized is it's not for me. And it was a brilliant move on behalf of Roger GOODELL because the NFL is investing in the future because more than 50% for the first time ever of people under the age of 18 are non white. And people identifying people saw it as anti American at Puerto Rican or Ecuador. No, Reagan said it best. Anyone can come to America and be an American. And that's uniquely what makes America America.

[Kara Swisher]

They're so butthurt. Because they are not. The culture war is. They're not winning it. Nobody wants to watch Kid Rock. And by the way, I should do a dramatic reading of Kid Rock's lyrics is, you know these people, they were defending that guy's show. You want to go on? They're like, oh, Kid Rock. I'm like, literally, he talks about putting balls in the mouth. Come put your balls in the mouth.

[Scott Galloway]

Okay. But the retort there is now do rap stars?

[Kara Swisher]

Of course. But this wasn't Bad Bunny. Like, fine, like, so it was a bunch of really.

[Scott Galloway]

It was pretty cle. I agree. You know who the other big winner was in the super bowl was the prediction market. Apps.

[Kara Swisher]

Yeah. What did they say?

[Scott Galloway]

Kalshi Download spike last month, the app recording 4 million downloads in January. That's up from less than 2 million in December. And not only that, it's going, you know, it's killing. It's killing the Gambling apps, the prediction market apps from DraftKings and FanDuel got just 100,000 downloads.

[Kara Swisher]

Certainly the more people that use it, the better. But let me just finish up on Bad Money. It was a great show. It was very like, you know, you had Pedro Pascal as a background person and Cardi b and a whole bunch of people. And I thought Ricky Martin was lovely looking, fantastic and Gaga was great. It was so joyful. And for them to attack it, it shows just what a bunch of fucking losers they are. I'm sorry. They just really are. It was so beautiful and so life affirming and forward thinking and it is where our country is in a lot of ways. I mean, all I wanted to do is. I've been trying to take Spanish myself.

[Scott Galloway]

It's a beautiful language. I took it for five years in high school or I took them to seventh or 12th grade. I can barely order at a Mexican restaurant.

[Kara Swisher]

Me too. I have to learn. This is the year I learned Spanish. This is the year.

[Scott Galloway]

But. But what I try to do is I try to take economic trends away from the super bowl, specifically the advertising. And the two trends are the following. One, it looks like this is the year that AI might crash because there's so much cheap capital going, going into it vis a vis the Super Bowl. And the second thing is there's been a huge transfer in economic value or market capitalization from the gaming apps to the prediction apps. In just the last three months, the earnings per share estimates for Flutter Entertainment, which is the gaming or the gambling apps, has been cut in half. And DraftKings earnings estimates are also down 29%. The biggest apps are the gambling apps. And now the speculation markets are taking their. Are eating their lunch.

[Kara Swisher]

Absolutely. And as you noted, the NFL made a great choice here in terms of how it handles.

[Scott Galloway]

Smart, really smart.

[Kara Swisher]

And the beautiful visual of San Francisco on the front, which was, I'm sorry to tell you, was a rainbow flag, kids. But also good for San Francisco. Looking great. All these people are like, what were they talking about? Looking great. San Francisco's on the upswing. And I have to say, oh, it was great for.

[Scott Galloway]

It was great for your city. It was like chamber of commerce. The only time I turned it on was late at night. It was like 11:30 and it started and it was this. Immediately this beautiful vista of the Golden Gate Bridge around the golden hour. And you're just like, wow. Occasionally there's a moment you're in California and you're like, why did I leave.

[Kara Swisher]

The gate all the time? Why did I leave the gas exactly every fucking day of the week. And twice on Sundays when I wake up at my house, the fog comes.

[Scott Galloway]

In over the Golden Gate, cleans all the shit out of the air and then it's crystal clear and sharp. And I mean, it is a beautiful city.

[Kara Swisher]

Every morning I wake up there, Scott. I weep. Louie's moving there. Just so you know, my son will be moving to San Francisco and working for someone who's in politics there. But I'm so jealous of him. Anyway, he's living in the cottage.

[Scott Galloway]

Elmo says bad bunny's a good bunny.

[Kara Swisher]

He's a good bunny. Anyway, let's move on to the speaking of crypto, while the Dow hit a milestone high of 50,000 last week, crypto has been heading the other way into a crypto winter again. Bitcoin has just had its worst weekly decline in more than three years, down roughly 45% from its all time high last October. The downturn is being blamed on a few things. Volatility in other markets, tariff fears, uncertainty around Fed chair nominee Kevin Marsh. I don't know about that. The ongo been brutal for some of crypto's biggest champions. Michael Saylor's strategy and I know earned admirer just reported a $12.4 billion quarterly loss. Wow. But don't expect a bitcoin bailout. Treasury Secretary Scott Besant said congressional hearing last week that he has no authority to do that. Of course, Trump was crypto president. Nice job. David Sachs, by the way. They got what they wanted, the crypto people from Trump. Everything they wanted. They got rid of the Gary Gensler, they got rid of Sherrod Brown, they got rid of critics. What's happening here?

[Scott Galloway]

Well, first off, I should just point out that I am easily the worst crypto investor in history.

[Kara Swisher]

Yes, because you just.

[Scott Galloway]

I finally threw in the towel and I bought some shares in a bitcoin treasury company. I bought it at 14 and within 45 days I sold it at $4.50.

[Kara Swisher]

Oh, nice done. Well done, well done.

[Scott Galloway]

Yeah, well done. Look. CoinMarketCap's crypto and fear greed index is now at a 9, indicating extreme fear. This is the highest reading in the index's nearly three years of existence. Bitcoin. Bitcoin's basically been cut in half since it's high and investors had two and a half billion dollars of bitcoin liquidated in just one day alone.

[Kara Swisher]

Even after Friday, certain bitcoin, bitcoin and then the others have gone down 99. Like the Melania coin, the Trump other Shit coins.

[Scott Galloway]

Yeah. Even after Friday's rebound, bitcoin is down 43% from its peak. And then the stocks related to bitcoin per year comments have been hammered. MicroStrategy is down nearly 70% from its peak last summer and down 15%. This Coinbase is down 60% from its summer peak, down 30% this year. And Tom Lee's Bit Mine is down 85% from its peak and 34% this year. Crypto volatility is currently about 8x higher than that of the S&P 500. But what I would say is the following. And I don't get this market. I respect that Bitcoin has established itself as a tangible asset because of scarcity, value because of its technology. I think the rest is pure speculation. But what typically has happened over the last decade is when bitcoin has these drawdowns and there's all this fear. Over the last 10 years, when we look back, those have been buying opportunities. So I don't. I mean, I always like to talk about what I'm thinking of doing. If bitcoin keeps getting hammered, I actually might buy a little bit. Not because I believe in crypto, but because I like diversification. And I do think this market is incredibly volatile. I do think bitcoin has established itself as a legitimate asset class. But there's just. What's unusual is typically bitcoin is meant to be. It should benefit from a weak dollar in inflation and it's not. And it ends up that it's not the default contraindicator of a weakening dollar.

[Kara Swisher]

Silver, gold.

[Scott Galloway]

That's kind of stuff we'll see. At the end of the day, the crypto is really. It's not investing, it is speculation. I would argue that a little bit of money, 1 to 3% of your portfolio in bitcoin may not be a bad idea.

[Kara Swisher]

And only bitcoin, not the other shitcoins.

[Scott Galloway]

I would not do any of the others. The others to me are just greater. Fool theory come to life.

[Kara Swisher]

Yeah, you sucker. I call them sucker coins. They're really sick.

[Scott Galloway]

And you have to watch it every day. And all this stuff it can take. A real volatility is fine. If you're willing to endure volatility, it means you'll get greater returns. But what you want to do is you want to diversify across multiple volatile asset classes such that your mental health is somewhat protected. You know, you just. One of the reasons I like owning real estate is I don't have a scorecard every day.

[Kara Swisher]

Yeah, you just hope for the best.

[Scott Galloway]

If you're looking at your phone too much and you're really good at this, if you're looking at your phone too much because you're checking your stocks all the time, A, that's a hit to your human capital, and B, you don't want to be. You never want to go all in on one thing because the market's Trump individual dynamics. And if you bought $10,000 worth of Amazon in 1999, it was worth $400 by the end of 2000. And that takes a huge emotional toll on you. So what you want to do is you want to be diversified and you want to be in good ETFs, good indexes, and then put them away and not look at them and think of them as things you want to hone for five or 10 years. Look at them once a quarter if you can. I don't look at all of them.

[Kara Swisher]

But you know that.

[Scott Galloway]

Yeah, I think your approach to investing is actually the right approach to investing.

[Kara Swisher]

I'm hoping when I'm. It doesn't really matter my kids. I was thinking, I was doing again the math again that I keep forgetting to do. And I'm like, well, when Saul is going to be able to drink, he'll be 21. Alex will be 37. I'll be 100 fucking 12. So it doesn't really matter to save for retirement. It doesn't matter.

[Scott Galloway]

You don't even buy green bananas anymore.

[Kara Swisher]

All I need is money to put me in a home and have nice nurses. That's all. And I can swing that with what I'm doing, even if I lost a lot anyway.

[Scott Galloway]

I'll be pushing you around.

[Kara Swisher]

No, no, wrong.

[Scott Galloway]

I'll be pushing you around.

[Kara Swisher]

Other way, other way.

[Scott Galloway]

And I'll hire really hot nurses. I'll manage that. I'll manage that side of your life.

[Kara Swisher]

I'll manage him for you. What are you talking about? I'm like, yes, he's a little handsy, but just, like, put up with it. I'll give you an extra ten.

[Scott Galloway]

A little handsy.

[Kara Swisher]

Little handsy.

[Scott Galloway]

Handsy. Ish.

[Kara Swisher]

Slap him.

[Scott Galloway]

Just slapish. I told you, I already have my nurse picked out. A guy named Manuelo. Very big, with very well manners.

[Kara Swisher]

I'll have some men there that manhandle you. Anyway, let's go on a break. We come back, Amazon spending spree. And what Jeff Bezos is saying about the Washington Post's future. All stupid things. Just FYI.

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[Kara Swisher]

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[Podcast Advertiser/Host]

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[Kara Swisher]

Support for this.

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[Kara Swisher]

Scott, we're back. Amazon spending plans are making waves on Wall street after the company signal massive capex ramp up. Amazon said it expects to spend about $200 billion in 2026, nearly a 60% increase from last year. CEO Andy Jassy justified the spending by sending strong demand for AI, robotics, chips and satellite makes sense for their business in a lot of ways. The announcement appears to spook investors though, sending stock down 10% and wiping $133 billion off of Amazon's market cap. What a massive amount. Let's talk about this. They are at the same time the suckuppery that Jeff Bezos has been doing and Andy Jassy too for Trump is reaping benefits under Trump's new tax on the company's corporate tax bill fell to about $1.2 billion last year, down from $9 billion the year before, even though profits jumped roughly 45%. So what Scott says is corporate taxes, just like this has been a boon for Trump, has been a boon for these people. So talk a little bit about these spending because they need to spend in robotics. They obviously need AI to go with the robotics and chips and of course satellites delivery. They have such an unusual business that it's both analog and advertising and where they market things. It seems like a company that should be spending here, but your thoughts well.

[Scott Galloway]

The problem with or one of the things that makes our economy so fragile is there's just a small number of companies that can make that can allocate this sort of capital. And this week and last Amazon, Google, Meta and Microsoft unveiled plans to spend a combined 660 billion on AI buildout this year. That's a 60% increase from last year. Apple is the only big tech company whose capex decreased from last year. And the sheer magnitude is just shocking. That's three times the global R and D of the pharmaceutical industry. So we're now spending more on data centers and chips. We're spending treble what we're spending on trying to research treatments for cancer and diabetes. They're spending more than it costs to build the U.S. interstate highway system. We're spending more. Those four companies are going to spend more than we spent on the Apollo Moon program and the International Space Station combined. And it's the equivalent of spending about $2 billion a day on AI. But what I think you're looking for, if I look at the stocks that are responding to the market positively versus negatively, it's okay. A big I is really impressive because it separates you from the rest. Snap can't spend billions of dollars to increase the AI targeting of its ad stack. Most companies just can't spend that kind of money. But the company that's really done well here is a company that not only has the huge I, huge capex, but also is right away showing that they can garner the return that justifies that eye. And that company is Meta. Meta is showing increased click through, increased advertising, increased arpu and it's saying this is working for us. So we're going to outspend every other media company in the world, maybe with the exception of Alphabet. But these types of investment, there's just no getting around them. They're absolutely staggering. I can't figure out if it's good or bad. I guess it's. I'm hoping it results in a lot of vocational jobs.

[Kara Swisher]

Wouldn't you imagine lots of their business does need this kind of stuff. Like you're thinking of speaking of advertising, they do a lot of it in marketing, right? So they have to understand what's effective to bring up for people when they search on Amazon, their logistics of their various centers where they, the fulfillment centers, the robotics. It seems like a lot of this stuff does lend itself to, to AI being more efficient in that or giving them efficient instructions. I would imagine their business lends itself to this. And you're right, they're the only ones that can spend this much. And then once it's spent, nobody can catch them ever, ever, ever, ever.

[Scott Galloway]

It's just going to have very weird second order effects. Because if you look at where the money's being spent, if you look at data centers, most of them could have their lights off during the day. A huge data center that costs hundreds of millions to build employs what Achilles employs and so obviously a huge burst in vocational skills. But then what happens? There's no really ongoing employment here. And what I look at is, all right, if you think about, I mean, people say, is AI going to affect me? And my standard line has been AI is not going to take your job. Someone who understands AI is going to take your job. And what you need to think about is, is AI complimentary to what I'm doing or is it a substitute? And Justin Woofers, the economist from Michigan, pointed this out. If you think about sec, my mother was a secretary. She would be out of work right now because AI came along. And word processors at the same time. Everyone thought ATMs was going to put bank tellers out of business. There are now more bank tellers than there were pre atm. Because what they said is, let's use technology to upskill you so you can give people mortgages, figure out their financial plan. So just at a ground level it's like, okay, how do I use AI as a weapon as opposed to being on the wrong end of the weapon. But the economic reshaping here is just staggering. But I do think we're at that point now with all great technologies that end up going on to be hugely important, that this is, I think we're overdue for a correction. And the technology I keep coming at and I'm about to buy stocks, talk is Novo Nordisk just hit a like a five year low. Novo Nordisk actually rebounded yesterday. But Novo Nordisk, the maker of. I think it's. I forget which one it is, Ozemperk or Wegovy. And I always tell people the most important technology is not AI, it's GLP1. And talk to somebody who loves AI and uses it.

[Kara Swisher]

There was an ad for Serena Williams, did Super bowl, by the way.

[Scott Galloway]

Well, talk to anyone who's someone who uses a lot of AI at their work, really enjoys it, gets a lot of use out of it. But that person is also on GLP1. Ask them what's having a more profound impact on their life.

[Kara Swisher]

Can you do a short rant about the corporate taxes and the benefits of being in the Trump Administration for these companies by sucking up.

[Scott Galloway]

Well, look, as a percentage of gdp, corporate taxes have never been lower. And as a percentage of gdp, wages have never been lower. And as a percentage of profits, corporate profits have never been a higher percentage of the essence of gdp. In sum, there's always a healthy tension between capital and labor. But basically what you have with AI, shareholders love AI because what you're seeing across all of these companies is margin expansion but no incremental increase in employment.

[Kara Swisher]

And then lower taxes.

[Scott Galloway]

That's great for shareholders. And then the lower tax argument is basically the strategy for the last 40 years. And the Republicans, if we just lower taxes, it'll trickle down. All it's doing is just pushing back debt on young, young people. But if you just look at the balance, if you just assume at some point we have to pay for our navy and our parks and for food snaps, the question is, well, who pays?

[Kara Swisher]

Yeah. I can't believe they went from 9 billion to 1.2 billion. That is savings. That is a. Oh, God, I wish my.

[Scott Galloway]

Repeat that. Kara.

[Kara Swisher]

Amazon's. Under the Trump's new tax law, the companies. This is Amazon's corporate tax bill fell to 1.25.

[Scott Galloway]

Automatic expensing. Yeah, yeah.

[Kara Swisher]

Profits jump 45%.

[Scott Galloway]

It's really. The tax code has gone from 400 pages to 4,000. And the 3,600 paces, one by one. Kind of fuck the middle class. And it wasn't. These aren't malicious people say let's fuck the middle class. What they are is really talented people on behalf of lobbies like Amazon that says let's figure out a way to expense all capital expenditure in year one.

[Kara Swisher]

But it's Trump's new tax law. It's even more advantageous to them. This was always the game, folks, is them getting more for themselves. It really was with Trump. Some of them don't like him, some of them do.

[Scott Galloway]

This has been happening across Democratic and Republican administration.

[Podcast Advertiser/Host]

Agreed.

[Kara Swisher]

But this new tax law is 1.2 from 9 billion. That's quite a lovely.

[Scott Galloway]

Okay, I agree with you. And two things can be true at once. Biden. For all the talk about progressive policies and the need to reduce the deficit, taxes on corporations went down during the Biden administration. So here's the bottom line. The only way you get reelected, which must include reservations and blow jobs because these people cling to power like an African dictator. So that was both offensive and a hate crime and racist. But these people have decided that they will do anything to stay in office. And the way they stay in office is with a thoughtful lobbyist who says, oh, just implement this one little tax change called 1202, where entrepreneurs and VCs get their first 10 million out. And incrementally what we have done is lower taxes on the 0.1% in corporations and we haven't raised taxes on the middle or low income. That's a myth. What we've done is we've raised taxes on Future Generations with $7 trillion in spending on $5 trillion in receipts. So the people who've had their taxes increase the Most are a 55 year old who is now 25. Because we have the full faith and credit to borrow that money. That full faith and credit and that borrowing power will go away. And at some point someone's gonna have to pay the piper either through massive inflation or revolution or much higher taxes.

[Kara Swisher]

Yep, absolutely. Yes, kissing up works. But speaking of kissing up, Jeff Bezos is finally speaking about the future of the Washington Post following last week's layoffs. He said in a statement the Post had an essential journalistic mission and an extraordinary opportunity. Bezos added that readers provided a roadmap to success and that data tells us what his value and where to focus. Well, data, they all left after he. He did any number of things. The Bezos statement came shortly after Post CEO and publisher Will Lewis announced his exit from the paper. I think it was exited from the paper. Allegedly Post CFO Jeff d'. Onofrio. I met him when he was at one of the tech companies it was CFO at is stepping in as acting CEO. I'm gonna comment on this. Data tells us what is valuable. You're kidding. No shit, Sherlock. At the same time, you have to create products that doesn't necessarily follow data. You have to use both data and creativity to create a journalist. I mean, anyone would tell you don't get together with Scott Galloway. Data speaking. And of course it worked out beautifully. You have to have lots and lots of things that go into media. Jeff Bezos has made a number of errors recently over the past two years. And that's the reason people have fled in droves from the Post as other places are doing much better. In the New York Times, Wall Street Journal, the numbers are up. Lots of really interesting independent media companies. It's not true that he couldn't do something better here. And of course he's never blamed him for this fuck up. Will Lewis, good riddance has been terrible. Bezos didn't. Bezos again did not step in and deal with this guy when he was very clearly fucking up. So that's my thoughts. You don't have to have any, but you can.

[Scott Galloway]

What I don't get is, and maybe you've done some reporting here, we have these ideas about putting together a new group. The bottom line is it's subscale. Why wouldn't the New York Times or even the Wall Street Journal take this on and starch out some of the overhead costs, but take that traffic and a great brand and try and do something with it?

[Kara Swisher]

They of kind could. They could, they could. I would think Bloomberg is always sort of the one.

[Scott Galloway]

Oh, Bloomberg, that's a great one.

[Kara Swisher]

Bloomberg to me would be the most. But he's, you know, he's getting on. I mean, I hate to say it, a younger Bloomberg, certainly. That's, that's always, that was one of the possible buyers way back when, when they were trying to keep it out of Rupert Murdoch's hands. But you're right, the, the, the Wall Street Journal would be interesting. The. But why? Why? I mean, I could, let's, I'll call Meredith Levine and ask her, and she'll probably just go, oh, what do I need that for?

[Scott Galloway]

Yeah, why do I need that headache?

[Kara Swisher]

What do I need that headache? Yeah, but they take, they, they've got a great Washington firm. What do they get? What are they getting? Nothing.

[Scott Galloway]

Well, I'm just going to be very. I'll tell you how this would work. They would go in, they buy the brand, they buy the subscription. They pick their 40 or 60% most talented journalists, most of whom they've hired.

[Kara Swisher]

But go ahead.

[Scott Galloway]

They, they'd clear out the admin, the sales teams. I mean, the bottom line is print journalism, or whatever you want to call this type of journalism is in structural decline. And it requires, and everyone wants to talk about reinvention. Sure, you have to miss innovation. But more than anything, it requires consolidation and cost cutting. And the Washington Post, I mean, why wouldn't. I would just think that the Washington Post would be an outstanding Washington bureau and they've built a lot of credibility. They have a decent subscriber base.

[Kara Swisher]

It's not a decent, it's not a decent. It was until this past year. It's, it's cratered because of decisions Jeff Bezos has made. Direct decisions by Jeff Bezos.

[Scott Galloway]

I've heard their traffic, their, their website traffic is off by nearly a half.

[Kara Swisher]

In the last three years anyway. It's, it's. But you're buying, yeah, you're buying a great brand. A vehicle is how I look at it.

[Scott Galloway]

But what you'd have to do is. I mean, to a certain. I hate to say this, it's almost. It's a perfect candidate for a prepackaged bankruptcy.

[Kara Swisher]

Oh, interesting.

[Scott Galloway]

And that is you declare bankruptcy, you clear out all the obligations, including probably of an overpriced headquarters, all the obligations they have, and you say, okay, 30% of you are keeping your job, and that's it. I mean, this is. No solution here is elegant. That's going to paint a brave new. Everyone's hoping. If there's some guy who comes in and thinks, you know What, I got five or six billion dollars, I'll waste a billion over the next 10 or 20 years. Fine. I don't know if that person. It's like they say in therapy, no one's coming to save you.

[Podcast Advertiser/Host]

It's a great.

[Kara Swisher]

It is a great brand. It's a great brand, and there's a lot you could do with it that's different. And if you had some of the breathing room, but you got this meddlesome owner who every time he meddles, does something stupid, he hires.

[Scott Galloway]

Do you think he's meddlesome?

[Kara Swisher]

I do. I think he is. I think he meddled in the Kamala thing. It was him. He meddled in all manner of things here. He's meddled in a lot of stuff. And you know what? Let me just tell you. Jeff Bezos, let me speak to you directly. You are an astonishing entrepreneur. You did amazing things with Amazon. You went left when everyone went right. Everyone didn't believe you. You really know how to run an e commerce company. And you're okay at space. I think it's a little bit more of a luxury for you, but whatever, go for it. I don't care if you spend your money there, but you don't know squat about media at all. And to act like you're an expert in this is really exhausting. And you're not. You suck at it. You should get out of it, and you're just not good at it. I don't know why we listen to you for five seconds on this topic. There's lots of smart people who know about this. You should put it in their hands or just sell it. Just sell it. You don't care. Buy Vogue, Jeff.

[Scott Galloway]

Yeah. Go. Bye. Bye. The problem is whoever buys this is inheriting an unsustainable cost structure.

[Kara Swisher]

Yes, I'm aware.

[Scott Galloway]

So it's either a prepackaged bankruptcy or you say to the current owner, you're going to have to do the hard work and clear out a lot of the Costs here, which he may be doing. And you probably have to bolt it on to another infrastructure, whether it's Bloomberg or the NYT or the Wall Street Journal. But if a bunch of people get jonesed up into raising money and finding people and try and reinvigorate the thing you're basically going to create, it's trying to bring Frankenstein back for a second time.

[Kara Swisher]

Well, I would agree. There's a lot of people who contact me and they get disappointed because I go, well, that's not economic. We need this. One of the things that the reporters do is they're like, we need this for democracy. I agree with that. But you still have to run a business. I say that. I'm like, don't make. Make that the argument. It's of course, the art. It's the understood. The press is very important for the future. It's always been. And it's part of the many things that help our democracy thrive. And that's not the argument you have to create. I always say I said it to someone, I think they were disappointed because they wanted me to be like, let us grab Joan of Arc. I was like, it's called the news business. You gotta make a business out of it and you gotta figure it out and get the costs in line. And what I think has happened here is, you know, it's been so distant and meddlesome at the same time. Will Lewis was incompetent and meddlesome at the same time and kind of cruel not to say anything while you did it. I mean, as you say, how you leave is how you. How you begin. Like, how you leave is critically important. And him showing up all ragged. Look at the NFL parties while he was laying off people. Just not a good look. It's just not a good. It's not respectful. And these people have worked hard, a lot of them, and so most of them, actually. And that's. I don't know. I don't know. You're right. It has to. Something, something fresh has happened. But to me, it's a great vehicle for somebody for including. I have some ideas. But, you know, it's a great vehicle. And it's still not a dead brand. That's my feeling. It's not, but it certainly could.

[Scott Galloway]

People will say that this is another example of how democracy dies or the Washington Post dies. And this is the bottom line. Without. There's a ton of. And a lot of these people will end up at places there's a ton of sharp, critical, anti establishment new media brands. The Intercept, Democracy Now. Jacobin, Chapo, Trap House. Citations needed. Navarro Media. The Bulwark, Truannon.

[Kara Swisher]

Well, a lot of them aren't doing original reporting, but go ahead. Yes, go ahead.

[Scott Galloway]

Well, that's the correct point. And that is there is no or little economic viability in hard hitting investigative journalism, especially at the local level. The amount of grift and corruption and like, name your local state capitol because there aren't any reporters covering any of this shit. But the notion somehow that we're not going to have any really thoughtful, interesting, progressive media if the Washington Post goes away, no, all of those people will go to smaller, cool little media firms that are doing a great job and quite frankly have figured out a way to be more economically relevant.

[Kara Swisher]

Total cash flow positive, apparently.

[Scott Galloway]

Does the Atlantic do well?

[Kara Swisher]

Yes, Very smart. Nick Thompson. Lorraine is a great owner. Jeff Goldberg, a great stuff. They're making products people want like it's not. This is the thing. Let's stop talking about this. Jeff, you're bad at this. Just at least have a talk with me. Just meet me. I don't like you, you don't like me. So what? What? Big deal. I'd love to have a talk. I know you're a smart person, but you really need to do something else and not sell it to a hedge fund or the wrong owners. Just do the right thing. Just for the last. For the last time, do the right thing.

[Scott Galloway]

I don't know. I can't handle the Atlantic. Every headline feels like it was written by someone who's disappointed in you but still wants to be invited to your wedding.

[Kara Swisher]

They've done some amazing reporting. It's not true. They've done. You don't read it enough. You just read headlines.

[Scott Galloway]

The Atlantic doesn't do hot takes. It does foreplay for a conclusion you already disagree with.

[Kara Swisher]

It does not. He's the only one that also has concern. Sometimes I call it Bad Atlantic and Good Atlantic. Sometimes they do the most irritating things that you would like it. They're contrarian.

[Scott Galloway]

I think. I think the Atlantic is what happens when someone at the bar who's like a woke person that's not that attractive, makes eye contact with you.

[Kara Swisher]

No, no, it's doing great. It's doing great. Anyway, let's go on a quick break. And we come back. The latest media merger gets Trump's seal of approval.

[Podcast Advertiser/Host]

When it comes to the new Melania movie. Here are some important numbers to remember. 40 million. That's how much Amazon paid Melania Trump's production studio for the rights to the film. It's the highest price ever paid for a documentary. 35 million. That's about how much Amazon spent marketing the film, 28 million. How much went to the first lady and 7 million. That's how much the Melania movie made on opening weekend, which is honestly pretty good and certainly more than many box office insiders projected. So how did this movie get made? Who's it for? And if this is finally Melania Trump's side of the story, what does she have to say? That's coming up on Today, explained from from Vox. Listen weekday afternoons, wherever you get your.

[Scott Galloway]

Podcasts.

[Podcast Advertiser/Host]

This week on Net Worth and chill. I'm talking about what happens after you've mastered the basics, how to build wealth that actually lasts for generations. With the top 1% holding nearly a third of the nation's wealth and 98% of them being men, breaking into generational wealth isn't just about getting rich. It's about changing who gets to stay rich. Plus, I'm explaining the great wealth transfer, a whole $124 trillion about to change hands over the next 25 years, and what it means for you. I'm answering your questions about calculating your net worth, whether you should rent or buy to build wealth, and how to pass your retirement accounts to your kids without losing them to probate court. Whether you're just getting started or already maxing out your 401k, this episode will show you how to think bigger than just making money today. Listen wherever you get your podcasts or watch on YouTube.com YourRich BFF.

Over the last several years, AI companies of all shapes and sizes have been desperately trying to get their hands on every bit of available data to make their models better. This week on the Vergecast we have the story of how Anthropic destroyed hundreds of thousands, maybe millions of books and fed them all to Claude. Plus, we have information on who in tech is in the Epstein files, what's going on with Netflix, whether it's woke, whether it's going to buy Warner Brothers and and whether Peloton is going to successfully sell you a treadmill ever again. All that on the Vergecast, wherever you get podcasts.

[Kara Swisher]

Scott, we're back with more news. This is interesting. Speaking of media stuff, this President Trump is now endorsing Nexstar Media's takeover $6 billion acquisition of Tegna, saying it will help knock out the fake news because there'll be more competition. These are two giant local firms back in November seem to be opposed to deal writing on Truth Social. No expansion of the fake News networks now. I guess they sucked up to him because of Jimmy Kimmel. Everything else Nexstar owns or partners with over 200 stations with the addition of Tegna would cover roughly 80% of the company country. Excuse me, I would call that a monopoly. The FCC currently prohibits companies from owning broadcast stations that reach over 39% of U.S. households. So that's double. So Trump obviously shifted because. I don't know, is there a donation somewhere or something else? I don't know, but it's a massive. They're allowing this merger and then opposing the Netflix one. It's so ridiculously hypocritical. Every time they turn around, they like one thing but not the other. Any thoughts on this Tegna nexstar thing?

[Scott Galloway]

Yeah, but the Atlantic is like the person that ruins brunch by asking about the long term implication of eggs.

[Kara Swisher]

Okay, move on. They're doing great without your insults.

[Scott Galloway]

Tell me about every Atlantic journalist thinks that sex is a phase you'll outgr.

[Kara Swisher]

Okay, let's move along. Next star Tegna. Much more significant, you and I are.

[Scott Galloway]

Both talking to Democratic candidates for president and one of the platforms I think they should adopt is trust busting. We need to go the other way. If you want to bring prices down. You can't have three chicken companies, you can't have three pharmaceutical companies, you can't have four streaming media platforms. You can't have one search engine. You need to break all of these guys up. We need to go the other way way. And we need to separate the whole point. I mean, let's. Can we talk about Ted Sarandos congressional testimony? Because I think it's related.

[Kara Swisher]

Sure.

[Scott Galloway]

You had some coin operated Republicans who are being funded by the Ellisons.

[Kara Swisher]

Tim Scott, particularly recently has been on a tear.

[Scott Galloway]

Try to say I'm worried about Netflix claiming that 50% of Netflix children's programming is LGBTQ content. Yeah, and just so you know, they.

[Kara Swisher]

Never cared about antitrust.

[Scott Galloway]

Media companies are allowed to have it viewpoint.

[Kara Swisher]

Yes, they are.

[Scott Galloway]

Fox has a viewpoint, it has a bias. CNN has a viewpoint, it has a bias. Netflix, as far as I can tell, is the most apolitical of all of them.

[Kara Swisher]

They agreed. They really are.

[Scott Galloway]

And the way it works in a capitalist society is the person with the biggest check shows up and then it goes under regulatory review around whether the concentration of power will ultimately be bad for consumers. It has nothing to fucking do with how much LGBTQ content you think incorrectly has been incorporated into kids content. And to see all of a sudden these Republican lawmakers start talking about media bias and free speech. It's just insane. It's like, okay, how much money are you getting from the Ellisons who don't want to do what you do in a capitalist society and just pay more for the prize you want. So this politicization or weaponization, Trump should have nothing to do with any of this. He should be, oh, well, as far as I understand, highest bidder wins. And I appointed the FTC and the DOJ to do a review. That's it.

[Kara Swisher]

Even the Ellison, he shifted. He shifts on everything depending on who gives him money. But that's, you know.

[Scott Galloway]

Yeah. So I don't. I hope that. And by the way, I've said, and I talked to Ted Sarandis over the weekend. I've said I hope neither of them get it. I think there's too much concentration of power here. I don't think. I don't think one man should control TikTok, CBS News and CNN. And I also don't think Ted should control what is kind of, I'll call it the Walmart of content. With Netflix and the lvmh, hbo. I'm like, ultimately that'll give you too much pricing power. Power. It'll be good for shareholders. If I were on your board, I would tell you to do exactly what you're doing. But we don't need one man owning TikTok, CBS and CNN and we don't need one person owning HBO.

[Kara Swisher]

And I mean, Ted is not the Ellisons. The Ellisons are owners.

[Scott Galloway]

Well, one company, but they'll all be focused on. You get my meaning here?

[Kara Swisher]

I get it. Except that the Ellisons have promised to change. Of all the people that are actually trying to change it, the Ellisons have promised Trump they'll make cnn.

[Scott Galloway]

Netflix is the least political correct. Their B is more subscribers and shareholder value. That's what their bias is. The Ellison seem to have more of a quote, unquote, political scale. Yeah, yeah, more of a political bias. Although at some point they're going to have to be. What I don't get, you know, what they've really missed. And I told Ted this on Saturday and he's just not like this because he's too much of kind of like a gentleman farmer. If Netflix wanted to go gangster, they do the following. They'd get every single labor union in Hollywood to recognize one fact. If Netflix takes over, let's assume one of them gets it. If Netflix takes over Time Warner, I think employment will be flat, maybe to a little bit down. If the Ellisons get this Thing at the price they're going to have to pay for it. And they're kind of ground 0 for AI. Do you know what's going to happen to the looks of the employees that these companies. Companies.

[Kara Swisher]

Yes, I do.

[Scott Galloway]

Dad is going to say, all right, we've got to figure out a way to justify this cost. By the way, I am huge into compute and inference and I'm buddies with Sam Altman. I have no love for Bryan Cranston or these directors or these precious screenwriters or script writers at SpongeBob SquarePants. How can we use AI to take out 80, 80%?

[Kara Swisher]

That is their big calling card. Even though I don't think they have any specific.

[Scott Galloway]

Hey, Riders Guild, AFTRA and sag. Do you realize the. Literally the ass fucking and not the good kind you are about to get if the Ellisons and AI have to justify the price that Zaslav has been able to get?

[Kara Swisher]

By the way, Larry's numbers are off rather significantly too. He's lost billions and billions. He's way down. I mean, he doesn't have the extra money to spend. So they're really going to cut. They're really going to. This is a ridiculous extravagance for them. This is an extravagance. This is a yacht that they're buying. I would agree. But on that topic, the fcc, under village idiot Brendan Carr has launched a probe into the View. The FCC is investigating whether the show broke equal time rules for interviewing political candidates after the show interviewed Democratic Texas Senate candidate James Talarico. I think what the View should do is invite Brendan Carr on and have them eat him, all those ladies, because they would take him apart bit by bit. Another thing that's stup like, just stupid like. What are you doing? This is not making the airwaves safer for anybody or better or more fair. This is just you playing politics for your next job, you dumbass. All right. That's all I have to say about Brendan Carr. Your thoughts?

[Scott Galloway]

We need an FLTC and a DOJ that do this.

[Kara Swisher]

FCC, but go ahead.

[Scott Galloway]

Yeah, well, okay, yes, all of the above. These aren't supposed to be weapons of enriching the President and his allies. This is all the same. This is all cut from the same cloth here. These are supposed to be independent agencies that think about the consumer, also think about shareholder value, also think about the health of US markets. But again, it's the boring shit nobody wants to talk about. Our markets have become way too consolidated and the result is they have way too much. You know what we Have. We have two good schools in every major city. We need five they need to be competing with. I just went through this early admissions bullshit. It they quote, unquote, take the admissions rate from 9% to 14%. So we all go early decisions. Do you know what that means? It means if you get in, you have to go. What do you think happens if you. The deal is the following. And this happened with my son. You pick one school, they tempt you with a higher admissions rate. If you get in, you have to immediately withdraw all applications from every other university. What does that do? It gives you no pricing power. Power. You can't ask for financial aid, you can't ask for a scholarship. So what do they get to do? They get to increase their prices faster than inflation, which education has done. And by the way, the agency that provides accreditation such that you can get debt from the government, low interest debt to pay for your student loans, has not admitted almost any new university. So in every major city, there are two great schools. And that's it? That's it.

[Kara Swisher]

Did the Galloways just get the bill for school?

[Scott Galloway]

Just feel like Jesus Christ.

[Kara Swisher]

I know, I know. I'm almost Kara.

[Scott Galloway]

It's lucky I'm a rich man. I sat my son down yesterday.

[Kara Swisher]

I'm on my last couple of months.

[Scott Galloway]

I want to give you a lesson in tuition and what it means to pay for tuition and post tax dollars and how much this meal plan is going to cost you and just how ridiculously blessed you are. And by the way, be fucking nicer to your mother after I go through these numbers with you. It is. Do you realize the Galloway's got the bill? When you think about about the means of getting ahead and the means of establishing a family and saving, you think about education, you think about housing, and what has my generation done? They have purposely created scarcity such that the houses and the degrees we already own skyrocket in value, which is absolutely fucking young people. How on earth does any middle class family send a good but not freakishly remarkable kid to college these days? How does that happen? You know, one of the reasons why these gambling sites are booming and gaming is booming? Because if you're not saving for a house, you're more inclined to buy crypto or do stupid shit with your money, and you're less inclined to stay in a relationship or taking a risk on a relationship because you're not saving for a house or building anything.

[Kara Swisher]

Yes, indeed. Yes, indeed. I did do a 529 many, many years ago for the boys. And I was Very aggressive. And I was glad I was. The stock market did well and was able to pay for their college using that. But I have to say, it's not. I know sometimes those 529s aren't the way to go, but that's what I did and it worked out for me. But got, I got the tuition.

[Scott Galloway]

This. I'm like, I said to my son, I'm like, this is a state school. Wait, hold on. What's going on here? This is a state.

[Kara Swisher]

I know. You haven't even gotten food and living.

[Scott Galloway]

Oh, my God.

[Kara Swisher]

I know, I know. Welcome. You know what? I'm gonna go down there with you when you go visit him.

[Scott Galloway]

Oh, we're gonna have so much fun.

[Kara Swisher]

We'll have so much fun.

[Scott Galloway]

We're going to the uva. We're gonna go to the UVA Cal game. It's gonna be amazing.

[Kara Swisher]

I'm coming down there. I love uva.

[Scott Galloway]

Oh, it's gonna be a ton of fun. He's already told me. I told him last night, I'm coming down for the UVA Cal game. You know what he said? And I'm like, oh, that's gonna be funny. He's like, I don't know if I can get your tickets to the football game. I don't know.

[Kara Swisher]

Doesn't matter. We just wanna come down. We can ride horses.

[Scott Galloway]

Something tells me I'm gonna figure out a way to get my own ticket. He's already making excuses. He's already envisioning me embarrassing him in front of his friends. He's already trying to discourage me from coming to a football game next or in fall. Anyways, we're going down.

[Kara Swisher]

All right, we're going. Scott and I are riding our horses down there. All right, one more quick break. We'll be back for wins and fails. Okay, Scott, let's hear some wins and fails. I think I'll go first. First my fail. As always. Elon seems to be abandoning his plans to go to Mars. He posted over the weekend that SpaceX has shifted his priorities to build a self growing city on the moon in order to get to Mars so that we can save the human race. This guy changes his tune so much, it's just like, oh my God, when are you going to stop believing this nonsense? He's done an amazing job with the things he's had here on Earth, but not compared to the lies he tells about what he's gonna be doing in the future. But he's going to the moon, folks. So that's what he's Doing again. Sounds good. He should go. I think it's a great idea. More elon off the planet, the better. Sounds great. My win is I got Scott Galloway to watch Heated Rivalry. How'd you like it, Scott?

[Scott Galloway]

I did it on edibles when I was jet lagged. And I am rethinking everything, Kara. I am absolutely rethinking everything. I thought it was wonderful. I really. It's just really well done. And I think it's important. I think young people need to have more sex and there's a lot of sex in it. Oh, my God. Crazy sex.

[Kara Swisher]

Well, sex is their way to get to intimacy. You do see that, right? That's how they move.

[Scott Galloway]

Dudes use sex or intimacy. Women use intimacy for. No, wait. Women use sex or intimacy. Men's use intimacy for sex. I think this stuff is important. You know, did some of it kind of shock me and like, I immediately had to go to that lesbian series just to get my mojo back. Yeah, a little bit. A little bit.

[Kara Swisher]

I'll tell you what's interesting. I interviewed the creators. You should go listen to that.

[Scott Galloway]

I saw that. They're Canadian, right?

[Kara Swisher]

Canadians. Yeah, yeah, yeah.

[Scott Galloway]

I want to do an erotic drama about the behind the scenes going on of the world's best badminton team.

[Kara Swisher]

That's what everyone's saying. Like, they're like, what about rugby? What about this? Can I make one other observation? I think one of the things about it and then you can get your win and fails is, is that there's this. There was one of the things they said in the interview, and I think there was this whole incredible market of people who like this particular book series. It's a romance novel for women. Right. This is a women, straight, women oriented romance novel that was hugely popular. And one thing they're like, how could it miss when it had such a massive market of fans? And people ignore these markets. And that's one of the reasons it's already caught on with everybody else. But the initial strength of it was for this romance novel market that all the these sort of guys that are like green lighting things did not understand. And I thought that was a real win for smart creators who understood, who understand where their fan bases and markets. So I thought that was. I talk a lot about the business of heated rivalry with these guys. And so I thought that was. It's just a real win on a business point of view too.

[Scott Galloway]

Yeah. And I go. I come back to when I was thinking about a heated rivalry because everyone's asking me, what is anybody? Um, I think A decent place to start an entire political platform or guidance for a political system, an economic system. It sounds corny. It's love. And that is all right. If. If people can't make enough money in a low employment economy such that they're so stressed out they can't raise their kids, well, that economic policy is getting in the way of love, and we need to revisit it. If the divorce rates are skyrocketing because of economic anxiety and because 40% of households have medical debt, that's getting in the way of love. We need to stop it. If any sort of discrimination is stopping people from loving each other, committing to each other. And I think marriage is a good thing because it stops you from exiting relationships just because they both have outdoor plumbing, that's getting in the way of love. I think you could reduce, I think, the whole idea of a prosperous nation. We tend to think it's the S and P. It's not. It's someone's ability to find someone else and to share their life with them and notice each other's life. And that's why I think the sex recession among young people is absolutely terrible. And I also think about all the men I grew up with who basically imposed. Society imposed on them a set of rules and standards that said, you're not supposed to. To be in love because your inclinations towards love are perverted according to our laws. But I think you could literally start from the notion of love or connecting with someone economically, spiritually, psychologically, financially, and reverse engineer into what makes good public policy.

[Podcast Advertiser/Host]

Yeah.

[Kara Swisher]

Anyway, there you go. Love, sweet love. That's what Bad Bunny said.

[Scott Galloway]

That's my platform.

[Kara Swisher]

That was what he said, love. Okay, so wins and loss.

[Scott Galloway]

Okay, wins and bails. Okay, so my. My win. I'm trying to bring attention to some younger creators who I just think are outstanding. And I consistently find myself on this one creator's. I brought up Kyla Scanlon, this young, gotta be 26 female economist who I keep bringing on Pravji. But recently I find myself just absolutely obsessed with this guy on TikTok named Gio Husar. And he talks about economics and geopolitics and he'll go deep into the weapon systems of Ukraine versus Russia. And while the oil infrastructure for Russia's collapsing, he'll talk about the Fed and interest rates. And this guy is just so. It's like the eighth grade kid who was kind of introverted and good at math and he's found TikTok and he's just fucking fascinating. And you can tell he just does the work. And so much of my thought leadership or my views on economics and geopolitics are informed by this guy's amazing work. So people are consistently asking me what are my sources of information. I get a lot, I gotta be honest, I get a lot from social media and this one guy on TikTok, Gio Hussar for geopolitics and economics is a gift and it's also, to be clear, a real endorsement of these platforms. He, he's not Dan Rather or he doesn't have, he's not Brian Williams. He doesn't have that polish. He just does the math and he's sort of unafraid. Anyway, my win is Geo Hussar. He's fantastic. Check out his content. My loss is the following. I fairly get criticism for, for too easily comparing the Nazis to the Trump administration. And what I do think is fair though is looking at kind of late stage Weimar Republic and what was going on then in the Trump administration. And some of the things we share were a secret police loyal to one man, not to an institution, a collapse in the cultural and economic standing of middle class men. Back then it was about induction, industrialization and automation. Now I would say it's about A.I. this notion that the enemy wasn't abroad, but it was the enemy within. The fact that we started shipping people to different sites outside of the country where they had some sort of legal protection. What we also had in the 30s was a lot of the people in power very purposely started comparing undesirables or their enemies, whether it was gypsies or socialists or trade unionists or Jews, they started comparing them purposely to animals. And when I saw the president this week compare the Obamas, President Obama and First Lady Obama to animals, to apes. We have seen this before. When you normalize the dehumanization of people based on their ethnicity or on their beliefs or on their religion. Religion, you have to shut that shit down right away. And the notion that, oh, he didn't see it or you can't take him literally. Well, okay, what would you know the 60 million people who died in World War II would like a word. When the president of the United States is referring to past presidents and people who have been an absolute blessing to this society, when he starts comparing them to animals, animals, we are 1930s Germany. It has never been accepted before in our society. We have never normalized it, we have never allowed it. And this individual is talking about, he's referred to as political enemies, as vermin, as animals. And so the notion that more Republicans have not stepped up and said, we just can't have it. This, we cannot go back. We cannot be like Weimar Germany. We can't have democratically elected leaders referring to their political enemies as animals. And so my fail is that so many people seem to be making excuses for it and not checking back on it. This is a different level of danger when we start convincing people. And we need Republicans here. Democrats will always find reasons for why everything Trump does is wrong. If at some point Republicans, you know John Thune, who I think is a good man, if he doesn't stand up and say, you can't equate our political enemies with animals, well, they only do.

[Kara Swisher]

That, like Thom Tillis, when they're not running again. Then they get, then they.

[Scott Galloway]

Well, then they find their balls.

[Kara Swisher]

Yep, Yep.

[Scott Galloway]

Anyways, my win is the geo Hussar. My loss is the normalization of referring to people as animals. It leads to very dark places.

[Kara Swisher]

Yeah, I think your comparison is just fine. But anyway, before we go, listen up. If you have a juicy situation you'd like our advice on, call us at 85551. Pivot, think, work, dating, family, finance. Make it juicy, people. This is not career advice. Ask. This is I want to date my coworker or I made a huge financial decision, I regret type Ask. We want something a little more personal. We can't wait to hear from you on that and elsewhere in the Kara and Scott universe. For the latest episode of On, I spoke with longtime defense ATT Abby Lowell, who is representing some of the most high profile targets of the Trump administration right now. People like New York Attorney General Letitia James, Federal Reserve Governor Lisa Cook, and independent journalist Don Lemon. And this is very much to Scott's last point. Let's listen to a clip.

[Scott Galloway]

I don't know that I thought that them going after Don Lemon was their highest priority.

[Kara Swisher]

Right.

[Scott Galloway]

I should have known better. Because what we know about this administration is they're very good at basically saying, if this is my right hand, pay attention to it while I do something with my left. They are the administration of distraction.

[Kara Swisher]

Okay. That's absolutely true. Okay. That's the show. Thanks for listening to Vivint. Be sure to like and subscribe to our YouTube channel. We'll be back on Friday. Scott, read us out.

[Scott Galloway]

Today's show was produced by Lara Naiman, Zoe Marcus and Taylor Griffin. Ernie Intertodd engineered this episode. Rich Shibley edited the video. Thanks also to Drew Burroughs, Ms. Silvera and Dan Shalon. Yasha Khurra is Vox Media's executive producer of podcast. Make sure to follow Pivot on your favorite podcast platform. Thanks for listening to Pivot from New York Magazine and Vox Media. You can subscribe to the [e-mail] pod we'll be back later this week for another breakdown of all things tech and business.