Pivot Podcast Summary Episode Title: Joe Rogan’s Trump Jabs, Blockbuster Tech Earnings, and Another Tariff Deadline
Release Date: August 1, 2025
Hosts: Kara Swisher and Scott Galloway
Produced by: New York Magazine and Vox Media Podcast Network

1. Tragic Shooting Incident and the NFL's CTE Struggles

The episode opens with Kara and Scott discussing a recent tragic mass shooting at the NFL headquarters in Manhattan. The shooter targeted the facility, claiming to suffer from Chronic Traumatic Encephalopathy (CTE), a condition linked to repeated head injuries often seen in football players.

Notable Quote:
Scott Galloway ([03:30]):
"The shooter played high school football but did not play professionally. And of course what he did was heinous but pretty devastating."

They delve into the broader implications of CTE in sports, highlighting the NFL’s alleged concealment of the condition's dangers to maximize profits. The conversation underscores the societal cost of capitalizing on sports like football, likening players to "modern day gladiators" who pay an enormous personal price.

2. Gun Control and Mental Health Discussion

Kara and Scott transition into a discussion on gun control, mental health, and societal anger. They critique the normalization of mass shootings in the United States, comparing it unfavorably to other countries with stricter gun laws, such as the UK and Australia.

Notable Quotes:
Kara Swisher ([08:50]):
"Most anxious, depressed generation in history. And then you have weapons of war."

Scott Galloway ([11:03]):
"But it'll look from a perception. So it's weird."

They argue that while mental illness and anger are prevalent issues, the primary culprit remains easy access to weapons of war. The hosts advocate for stricter assault weapon bans, citing examples from other nations where such measures led to dramatic decreases in mass shootings.

3. The Pelosi Act and Trump’s Stance on Stock Trading Legislation

The conversation shifts to political corruption, focusing on a Senate committee's effort to advance a bill banning stock trading by members of Congress, presidents, and vice presidents—dubbed the "Pelosi Act." However, Donald Trump is conspicuously excluded from the restrictions, leading to criticism of the bill's effectiveness and its performative nature.

Notable Quote:
Kara Swisher ([16:00]):
"I would pay congresspeople. I would pay our representatives a million dollars a year, our senators 2 million a year. And you know, the President. I would go to the Singapore model..."

Both hosts express frustration over the bill's loopholes and the lack of bipartisan support. They advocate for higher salaries for congress members to reduce the temptation of insider trading, emphasizing the need for blind trusts and strict financial controls.

4. Joe Rogan’s Criticism of Donald Trump

A significant portion of the episode is dedicated to Joe Rogan's increasing criticism of Donald Trump. Rogan targets Trump's immigration policies, the administration's treatment of international students, and defenses of Jeffrey Epstein.

Notable Quote:
Scott Galloway ([24:40]):
"I think arguably Joe Rogan, in terms of young men, has more influence because he's seen as an honest broker."

Kara highlights Rogan's impact on public perception, especially among young men, and contrasts it with Trump's inconsistent narratives surrounding the Epstein scandal. They discuss how Rogan's stance could influence Trump's base and the broader political landscape.

5. Tariffs and Economic Implications

Kara and Scott analyze President Trump's latest tariff decisions, including a 25% tariff on India targeting overreliance on Russian energy and military equipment. They critique the administration's approach, emphasizing the economic drawbacks of tariffs, such as increased costs for American consumers and decreased competitiveness for U.S. companies.

Notable Quote:
Kara Swisher ([39:00]):
"Tariffs, they're telling American consumers that they have to pay more money for a Japanese car such that they get a shitty car for 40,000 instead of a gray car for 30,000."

Scott adds that despite promises of massive investments from tariffed nations, historical data shows that such commitments are often unenforceable, leaving American consumers to bear the financial burden. They express skepticism about the administration's ability to deliver on these investment promises.

6. Blockbuster Tech Earnings: Microsoft and Meta

The hosts discuss recent earnings reports from major tech companies, focusing on Microsoft and Meta. Both companies reported substantial revenue growth, driven largely by their investments in Artificial Intelligence (AI).

Notable Quote:
Kara Swisher ([51:04]):
"They added the population of Brazil to their user base year on year."

Microsoft reported an 18% year-over-year revenue surge to $76 billion, with its cloud unit Azure growing by 39%. Meta also showed impressive growth with a 22% increase in revenue to $47 billion and a 36% rise in profit. Their aggressive capital expenditures on AI talent and infrastructure are highlighted as key drivers of their success.

7. Novo Nordisk’s Market Plunge

In contrast to the booming tech sector, Novo Nordisk, a leading pharmaceutical company, experienced a dramatic stock drop due to weaker than expected growth in its weight loss drug market. The company cited increased competition from Eli Lilly's Mounjaro and Zeppbound, as well as cheaper GLP-1 knockoffs, leading to a 30% drop in its stock price and the appointment of a new CEO.

Notable Quote:
Kara Swisher ([63:58]):
"The market has a tendency to over punish and over reward and the momentum right now is against these guys."

Kara argues that despite Novo Nordisk's strong position in the GLP-1 market, the company is being unfairly punished by the market for factors beyond its control, such as increased competition and regulatory challenges.

8. Predictions: Figma’s IPO

Kara Swisher makes a bold prediction regarding the upcoming IPO of Figma, a design collaboration platform. She forecasts that Figma will be the IPO of the year, anticipating a significant market reception due to its strong growth metrics and the increasing importance of design in the AI-driven tech landscape.

Notable Quote:
Kara Swisher ([72:07]):
"I think Figma is what I'll call the first great company to go public in 2025. And I think it's going to be seen as one of the better IPOs of the year."

Scott agrees, emphasizing the strategic importance of Figma in enhancing AI applications through superior design capabilities. They both underscore Figma's robust financials and market positioning as key factors for its anticipated success.

Conclusion

In this episode of Pivot, Kara Swisher and Scott Galloway navigate through a mix of tragic news, political controversies, economic policies, and booming tech earnings. They offer sharp critiques on issues like gun control, political corruption, and economic tariffs while celebrating the successes of tech giants investing heavily in AI. Their prediction about Figma's IPO encapsulates their forward-thinking approach, highlighting the evolving landscape of technology and business.

For listeners who haven't tuned in, this episode provides a comprehensive overview of pressing issues in tech, politics, and economics, delivered with the hosts' characteristic insight and engaging banter.