Pivot Podcast Summary – November 7, 2025

Episode Title: Mamdani's Win, Palantir's Stock Slide, and Tesla's Pay Package
Hosts: Kara Swisher & Scott Galloway

Overview

In this episode, Kara Swisher and Scott Galloway dive into the political implications of Zoran Mamdani’s surprise win as New York mayor, discuss Palantir’s volatile stock performance and Michael Burry’s short position, and analyze the drama around Elon Musk’s historic Tesla pay package. The hosts also touch on Supreme Court skepticism toward Trump’s tariffs, the privatization of space exploration, and the growing civil war within right-wing politics.

1. Setting the Stage and Personal Updates

([02:27–07:11])

• Scott recounts his jam-packed media tour, including a sold-out interview with Ben Stiller and the rise of his book to #1 on Amazon.
• Kara jokes about their upcoming "Pivot" tour and their families’ involvement.
• Discussion of generational wealth and work ethic, with Scott reflecting on why people continue chasing money even when financially secure.

“I cannot get off the money train. I just can’t.”
— Scott Galloway ([05:26])

• Touches on inequality in romantic relationships, education, and SAT score gaps based on income.
• Kara notes her excitement for her son moving to San Francisco and discusses generational dynamics.

2. Income, Education, and Policy Inequality

([07:11–11:45])

• Scott highlights staggering differences in education funding and results:
  • Public high schools: ~$15k/student (middle class), $8–10k (poor areas), ~$75k (top private schools).
  • Huge disparities in SAT scores by household income.

“If you’re a kid coming from a low income home... you’re gonna be 370 points down on the SAT.”
— Scott Galloway ([09:17])

• Affirms his support for income-based affirmative action.
• Debate intensifies over food insecurity and public policy, invoking SNAP statistics and widespread child food insecurity.

“Budgets... reflect values. And this is America’s values. Right now, 21% of Americans are under 18. But 40% of SNAP food recipients are under 18... It says America’s values [are]—we don’t care about our fucking children.”
— Scott Galloway ([10:13])

3. Election Results & The Mamdani Moment

([12:12–22:27])

• Recap of major Democratic wins: Spanberger/Governor (VA), Sherrill/Governor (NJ), Prop 50 in California, and Mamdani as NYC Mayor.
• Mamdani’s victory speech focuses on combating oligarchy and authoritarianism.

“If anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him.”
— Zoran Mamdani ([13:02])

• Scott expresses unease with Mamdani’s anti-oligarchy rhetoric, doubts the power of a mayor to fight such entrenched forces, but agrees all should rally behind the victor.

“If I was [in New York], I think you give the guy the benefit of the doubt and you rally behind him, which Bill Ackman did.”
— Scott Galloway ([17:22])

• Analysis of voting trends:
  • Mamdani won 68% of men, 72% of young women (18–29).
  • Stark differences among older voters, especially over 65.
• Broad conversation about generational divides in American politics.

4. Gender Bias in Politics

([19:34–22:05])

• Scott discusses gender biases in political representation.
  • Despite women accounting for nearly 60% of college grads for 40 years, only 26% of Congress is female.
• Kara highlights the historic victory of Abby Spanberger as Virginia’s first woman governor.
• Optimism about the influx of women mayors and pipeline for future female leadership.

“The reality is Americans still very much conflate height and depth of voice with leadership qualities...”
— Scott Galloway ([18:49])

5. Anti-Oligarchy Messaging and Political Dynamics

([22:15–25:17])

• Kara and Scott examine the resonance of anti-oligarchy, “tax the rich,” and affordability messaging as effective for Democrats.
• Scott: The issue isn’t just tax rates, but lack of enforcement for the super-rich, citing a $700B tax gap due to gutting the IRS.

“The laws in America, the top 1%, are now protected by the law but not bound by it... The bottom 99% are bound by the law but not protected by it.”
— Scott Galloway ([23:20])

• Discussion of polling and international influence on election prediction markets.

“You should absolutely take a poll and stick it up your ass.”
— Scott Galloway ([26:30])

6. Supreme Court Scrutiny of Trump’s Tariffs

([30:44–37:31])

• Supreme Court voices skepticism about Trump’s sweeping use of emergency powers for global tariffs.
• Kara predicts the court will rule against Trump, which she sees as a political blessing in disguise.
• Scott details the mechanics of tariffs, their economic impact, and his personal investment strategies connected to potential government refunds.

“The recipient in America who signs for the Mercedes that gets off a ship pays the tariff.”
— Scott Galloway ([32:47])

“I think maybe there’s a 1 in 3 chance... that the Supreme Court rules against Trump and says you gotta give them money back.”
— Scott Galloway ([36:50])

7. Privatization of Space: NASA, Musk, and Political Picks

([41:14–43:24])

• Trump re-nominates Jared Isaacman (friend of Elon Musk) to head NASA.
• Kara bemoans the privatization trend and loss of a unifying national scientific vision.
• Scott notes the strategic advantage Musk and other space entrepreneurs have gained.

“Elon Musk... has said if we reduce the government’s ability to launch aircraft or explore space, they’re gonna be dependent on the private sector. And I’m the prettiest girl at the dance in the private sector...”
— Scott Galloway ([41:23])

8. Palantir’s Stock Rollercoaster & Meme Stock Warnings

([48:20–54:17])

• Palantir posts "blockbuster" earnings, but stock drops 8% as Michael Burry (The Big Short) announces a massive short position on Palantir and Nvidia.
• CEO Alex Karp gets rattled in a CNBC interview; Scott critiques Karp’s investor-relations style.
• Scott notes Palantir’s:
  • Massive performance growth
  • Insane valuation metrics (300x earnings, 125x sales)
  • Meme stock status (“...if it went down 70% tomorrow, it still wouldn’t look cheap” [49:40])
• Discussion of risks/rewards with short-selling meme stocks; Burry’s past successes and failures.

9. Right-Wing Civil War and Platforming Extremists

([54:17–58:44])

• Major backlash after Tucker Carlson interviews white nationalist Nick Fuentes.
• GOP splits erupted, with condemnation from major Republicans and resignations at the Heritage Foundation.
• Scott suggests Democrats should visually link Trump to toxic figures; condemns giving platforms to extremists.

“The most disturbing thing about that interview... Carlson really does deserve some pushback and legitimate criticism for platforming someone like this...”
— Scott Galloway ([55:53])

• Kara sees this as a looming crisis for the Republican Party post-Trump, stating they won't be able to keep the coalition together much longer.

10. Prediction: Tesla’s $1 Trillion Pay Package

([62:16–65:51])

• Kara predicts Tesla shareholders will approve Musk’s performance-based, potentially trillion-dollar pay package.
• Scott agrees, noting Musk’s cult of personality and that investors are backing him, not an “automobile company.”
• Debate over shareholder services voting against, but the "cult" factor overrides.
• Scott’s take: If Musk creates $7 trillion+ in new value, he deserves a huge reward—but needs to pay hefty taxes.

“If Elon Musk makes a trillion dollars. In my view, he should pay an alternative minimum tax of 60 or 70%.”
— Scott Galloway ([65:51])

Notable Quotes & Memorable Moments

• “I cannot get off the money train. I just can’t.” — Scott Galloway ([05:26])
• “If you’re a kid coming from a low income home... you’re gonna be 370 points down on the SAT.” — Scott Galloway ([09:17])
• “Budgets... reflect values... We don’t care about our fucking children.” — Scott Galloway ([10:13])
• “If anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him.” — Zoran Mamdani ([13:02])
• “Americans still very much conflate height and depth of voice with leadership qualities...” — Scott Galloway ([18:49])
• “You should absolutely take a poll and stick it up your ass.” — Scott Galloway ([26:30])
• “This company has consistently missed delivery deadlines... You’re basically betting... this guy can pull another rabbit the size of Jupiter out of a hat, which he has done before.” — Scott Galloway on Tesla ([64:27])

Key Timestamps/Segments

• Media tour/personal updates: [02:27–07:11]
• Inequality in education/income: [07:11–11:45]
• NY/US election analysis: [12:12–22:27]
• Gender bias in politics: [19:34–22:05]
• Anti-oligarchy messaging: [22:15–25:17]
• Polling/manipulation concerns: [25:17–27:31]
• SCOTUS on Trump’s tariffs/investment angle: [30:44–37:31]
• Privatization of NASA/space policy: [41:14–43:24]
• Palantir, meme stocks, and shorting: [48:20–54:17]
• Far-right politics’ internal crisis: [54:17–58:44]
• Tesla pay package prediction: [62:16–65:51]

Takeaways

• Zoran Mamdani’s upset victory and the “anti-oligarchy” message portend turbulence (and opportunity) for Democratic politics.
• Palantir stands at the intersection of strong fundamentals and dangerous meme valuation, with Michael Burry’s short of note.
• Tesla’s pay vote is the ultimate test of Musk’s gravity in the markets; shareholders seem poised to double down.
• The right’s civil war is breaking into public view, with platforming of extremists exposing existential risks ahead of 2026.
• Supreme Court’s likely rejection of Trump’s tariffs could set off a multi-billion-dollar refund spree—Scott’s betting on it.
• The episode is laced with biting humor, banter, and personal sharing, keeping the tone sharp, unfiltered, and deeply informed.