The Bulwark Podcast

Episode: Scott Galloway: Time to Send a Message to the CEOs

Date: February 13, 2026
Host: Tim Miller
Guest: Scott Galloway (NYU Stern professor, host of multiple podcasts, author, entrepreneur)

Episode Overview

This episode centers on Scott Galloway’s campaign to boycott and mass-unsubscribe from major tech platforms and subscription services as a protest against corporate collusion with the Trump administration and ICE. Tim Miller and Galloway hash out the strategy’s efficacy, the economic landscape under Trump, the state of AI, income inequality, trends in youth culture, and the potential for meaningful economic protest. The conversation is candid, irreverent, and full of actionable insight, with Galloway offering both data and personal anecdotes to support his positions.

Key Discussion Points and Insights

1. Galloway’s “Unsubscribe” Campaign

(Begins ~02:04)

• Purpose: Motivate people to use their economic power and send a market-driven message to big tech companies and their CEOs, many of whom are supportive of or complicit with the Trump administration and ICE.

• Mechanism: Encourages mass unsubscribing from major platforms (Amazon, Apple, Google, Netflix, Uber, etc.) to directly impact their growth numbers—metrics highly valued by investors.

• Impact Calculations:

  • Galloway claims 60,000–80,000 unique visits daily to the campaign site, with a 4–5% conversion rate and average unsubscribes at $400 per user.

    "That's $100,000 a day on subscription platforms — or, excuse me, it ends up being approximately a million dollars in unsubscribes revenue, 10 times revenues. It's 10 million bucks a day. I think I'm going to take a third of a billion dollars out of the market cap of these companies, Tim." (04:16)

• Targeted Platforms: Two types:

  • Ground Zero: Companies most sensitive to subscription slowdowns and whose CEOs are visible Trump/ICE enablers (Apple, Amazon, Google, Microsoft, etc.).
  • Blast Zone: Companies directly supporting ICE or White House initiatives (Hilton, AT&T, etc.).

• Personal Savings Angle: Galloway notes most people will be surprised at unnecessary recurring payments found during this exercise.

  “You're going to find you're spending money where you don't need to be and that this will save you money. Send a signal, and it's the quickest way to have the greatest amount of impact with the least amount of disruption to your life.” (07:24)

2. Debate over Efficacy

(03:55, 04:16, 12:17)

• Tim Miller’s Skepticism: Wonders if the movement is "a gnat on an elephant's ass" (03:55), questioning whether individual action can really move trillion-dollar markets.
• Galloway’s Response:
  • Compares collective efforts to the Montgomery Bus Boycott: progress comes from sustained, broad-based action, not one-off gestures.
  • Notes that even small dips in growth rates can have outsized effects on company valuations.

    “If Sam Altman reports 8% growth month on month in subscriptions, not 9, he's not going to be able to close his $850 billion round. Microsoft missed its earning estimates by 1 percentage point and stock was off 10%.” (05:20)

  • Claims 20% of the targeted CEOs are already aware and starting to pay attention.

3. Motivations: Why These Companies?

(06:22–10:15)

• Why Target Big Tech?
  • They move markets—collectively, 40% of the S&P is just 10 companies.
  • Their CEOs enable harmful policies and provide infrastructure to ICE.
  • Unsubscribing sends a powerful economic and symbolic signal.
• Personal Connection:
  • Galloway shares his own “free gift with purchase”—realizing and cutting wasteful subscriptions, surprise charges, and unnecessary recurring payments (old AT&T devices, multiple HBO Max/Uber subscriptions, etc.).

4. Boycotts and Capitalist Protest

(11:44–14:37)

• Cultural Resistance to Boycotts:
  • Miller, as a former Republican and capitalist, admits feeling queasy about boycotts, with the only boycott he’s participated in being Chick-fil-A during the gay marriage debate.
  • Galloway sees his version as uniquely suited to a capitalist society:

    “The most radical act of activism in a capitalist society is not participation.” (02:04)

• Efficacy Only with Scale/Sustainment:
  • “Most economic protests don't work one day. Economic protests are an annoyance, but they don't do anything. Unless they're sustained and they build, I don't think the president is going to reverse policies based on resist and unsubscribe.” (12:17)
• Celebrities Joining: Noted that Chelsea Handler’s Instagram attracted thousands more to the campaign within a day, generating high-impact market consequences.

5. Broader Economic Trends Under Trump

(16:33–19:14)

• Mixed Signals:
  • Recent jobs report appeared positive, but deeper analysis shows underlying weaknesses—especially when you remove healthcare jobs from the tally.

    “We added I think about 150 or 160,000 jobs, which was more than...projecting. Having said that, the average monthly job add during the Biden administration was 330,000 jobs.” (16:33)

• Elites Winning, Young People Losing:
  • Staggering growth in billionaire wealth (Jeff Bezos: $23B → $240B in 10 years) compared to stalling/losses for average young people.

    "The greatest transfer in wealth in history has probably been the transfer of wealth from people under the age of 40 to people over the age of 60...because old people have figured out a way to vote themselves more money." (21:36)

• Structural Problems:
  • Tax code is rigged for the rich and big corporations; deficit spending largely benefits asset holders rather than wage earners.
  • Galloway confesses that, as a successful entrepreneur, he benefited from tax-free earnings he considers unjustifiable.

    “The last two companies I've started and sold, the first $10 million out of the company were tax free. To me, that doesn't make any fucking sense.” (21:36)

6. The Healthcare Crisis

(24:54–28:28)

• Profound Systemic Failures:
  • Stories of tragedy: even a former TV star’s widow crowdfunding cancer expenses; Galloway’s own struggles with his mother’s illness and underinsurance.
  • Data: U.S. spends $13k per capita (double other G7) with worse outcomes.

    "We've decided it's not a public good, that it's an opportunity for innovation and to build shareholder value. 45 cents on the dollar for insurance companies goes to profits and administration." (25:13)

• Policy Prescription:
  • Full-throated call for single-payer healthcare.

    “We need national, single-payer, socialized medicine, full stop. It is time. 40% of Americans, 40% of American households have medical or dental debt.” (25:44)

7. AI Risks, Realities, and the State of the Tech Bubble

(29:47–44:51)

• AI Economic Hype Versus Social Dangers:
  • Galloway expects a correction in tech/AI valuations: "These guys have gotten way out over their skis in terms of their valuations." (31:02)
  • Sees AI as a long-term net positive for jobs and innovation, with short-term pain for workers; likens panic over AI to nuclear fears in the 1940s.
  • Main risk: AI (and tech broadly) will exacerbate social atomization, especially harming young men.

    “Men age 20–30 are spending less time outdoors than prison inmates...We're evolving a new species of asocial, asexual males who end up at 30, depressed, living at home, obese and anxious.” (32:41)

• Lookism and Incel Culture:
  • Discussion of “looksmaxxing,” “bone smashing,” and young men’s obsession with attractiveness as a response to digital social dynamics, AI, and Instagram standards.

    “Happiness is your prosperity minus your envy. And when people are spending hours a day on Instagram...you're under the impression, especially women, I'm not hot enough. And if you're a dude, it's like, well, I haven't made a million dollars selling crypto. Something's wrong with me.” (34:53)

• AI’s Real Job Impact:
  • Galloway argues AI is an excellent assistant, but can’t replace high-level creative writing yet (“all chip, no salsa”). (44:08)
  • The biggest immediate threat to creative jobs could come from studios adopting AI for movie production.

8. Regulating AI and Big Tech

(40:16–42:18)

• Problem: Lack of Regulation.
  • No “synthetic relationships” for minors should be allowed; AI output should be watermarked/labelled.
  • Big Tech should be held accountable for algorithmic harm; "illusion of complexity" serves their interests.

    “The illusion of complexity is what big tech wants you to be overrun with, such that you're bereft and say there's nothing we can do about this...Label AI, make companies responsible for any damage...” (41:03, 41:57)

9. Prediction Markets and Speculation Mania

(49:50–52:00)

• Growth of Prediction Markets:
  • Gambling on real-world events, like the Super Bowl and even TV talk show appearances, is exploding and largely unregulated.
  • Danger of insider trading, manipulation by foreign actors, and young people channeling risk into gambling (rather than productive activities).

    “If you're a AAA player who’s just been elevated to the major leagues...you're gonna make more money than you've ever made if you bet on your own game.” (50:34)

Notable Quotes & Memorable Moments

• On Economic Protest:

  “The most radical act of activism in a capitalist society is not participation.” — Scott Galloway (02:04)

• On the Boycott’s Reach:

  “If there's enough gnats, the elephant goes down.” — Scott Galloway (04:16)

• On Tech CEOs Supporting Trump:

  “These are the CEOs who seem to be enabling this President and be willing to be trotted out and show up with signed hard drives...In addition, many of these companies are actually providing infrastructure for ICE... Send a signal.” — Scott Galloway (06:37)

• On Wealth Transfer:

  “The greatest transfer in wealth in history has probably been the transfer of wealth from people under the age of 40 to people over the age of 60.” — Scott Galloway (21:36)

• On Single-Payer Healthcare:

  "We need national, single payer, socialized medicine, full stop. It is time. 40% of American households have medical or dental debt." — Scott Galloway (25:44)

• On AI’s Social Risk:

  “We're evolving a new species of asocial, asexual males who end up at 30, depressed, living at home, obese and anxious.” — Scott Galloway (32:41)

• On Insta-Envy:

  “Happiness is your prosperity, minus your envy.” — Scott Galloway (34:53)

• On Young Men’s Dating Success:

  “For dudes, we're lucky. Be smart, have your shit together, and be kind.” — Scott Galloway (37:47)

• On Big Tech Regulation:

  “We this up, we can unfuck it.” — Scott Galloway (42:12)

Timestamps for Key Segments

• The Unsubscribe Campaign: 02:04–10:15
• Debating Efficacy: 03:55, 04:16, 12:17
• Economic Landscape Under Trump: 16:33–21:36
• Healthcare System Failings: 24:54–28:28
• AI Dangers and Hype: 29:47–44:51
• Prediction Markets/Speculation: 49:50–52:00

Tone and Style

The tone is fast-paced, acerbic, humorous (often at Scott’s own expense), with energetic banter between Miller and Galloway. Galloway delivers data-laced monologues and irreverent takes (“assholes,” “shit,” etc.), making the conversation engaging and accessible while driving home weighty topics. Miller plays devil’s advocate and audience surrogate, pushing for clarity—and sometimes, as an ex-Republican, expressing growing personal radicalization over the magnitude of today’s inequities.

Conclusion

This episode is a candid, data-driven, and highly actionable deep-dive into consumer economic protest, why it matters, and the broader crisis of inequality and regulatory capture in America. Galloway calls listeners to wield their market power, exposes how and why tech CEOs matter politically, outlines the links between economic anxiety, AI, and male alienation, and—perhaps, most surprisingly—advocates for full-on single-payer healthcare. Listeners will come away both alarmed and, in places, inspired to take practical steps—with more than a few laughs along the way.