Does Scott Still Teach at NYU? Private Clubs for the 1%, and How Money Changed Scott’s Life

Summary

Podcast Summary: The Prof G Pod with Scott Galloway

Episode: Does Scott Still Teach at NYU? Private Clubs for the 1%, and How Money Changed Scott’s Life
Release Date: June 23, 2025
Host: Scott Galloway
Network: Vox Media Podcast Network

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In this insightful episode of The Prof G Pod with Scott Galloway, Scott delves into three pivotal topics: his current teaching engagements at NYU, the exclusivity of private clubs catering to the elite, and the profound impact wealth has had on his personal and professional life. Through candid responses to listener questions, Scott offers a blend of business acumen, personal anecdotes, and thought-provoking perspectives.

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1. Teaching at NYU Stern: A Changing Landscape

Question from wildsource1359 (00:44): "What's the deal with you as a teacher at NYU Stern? You currently live in London. How and how often do you actually teach? Is it over Zoom? Is it for a concentrated period of time? Say one week?"

Scott’s Response:

Scott addresses his current relationship with NYU Stern, clarifying that he hasn't taught a traditional three-unit course since the onset of COVID-19. Upon relocating to London, he offered to resign, but NYU retained him for his brand value. In 2017, after selling his last company, Scott returned all his compensation to NYU, emphasizing his desire to distance himself from the "industrial complex" that perpetuates rising tuition costs.

"I've returned all my money. So I'm a pretty easy person not to fire right now. I don't cost them anything." [(01:20)]

Despite not teaching in person, Scott remains involved through symposiums and fundraising events, often serving as a keynote speaker during his visits to Europe. He plans to resume in-person teaching upon his return to the U.S. in about a year but currently engages in online courses focused on upskilling enterprise professionals in AI.

"I'm a professor in name only right now. But I plan to teach again." [(03:10)]

Scott reflects on his extensive teaching history, having educated between 4,000 and 4,500 students over 23 years, though he admits to feeling burnt out from traditional academic commitments.

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2. The Exclusivity of Private Clubs and Social Implications

Question from Captain Lance Murdoch (06:00): "Scott, you talk a lot about expensive private restaurant clubs separating the rich and steering money away from open places. Should there be a more affordable private club option that comes in below the top of the market and tries to bring the experience to more people? Could this work?"

Scott’s Response:

Scott critically examines the current trend of private clubs adopting junior memberships, which, despite being less expensive than standard rates, still remain prohibitively costly for many. He highlights the inherent price discrimination based on age and income, asserting that while these clubs aim to attract younger members, the high costs create barriers.

"They're price discriminating by age. They want more younger people, but the junior memberships are still a lot of money." [(07:15)]

He expresses concern over the dwindling availability of affordable social spaces for young people, linking it to broader societal issues such as increased social isolation and reduced opportunities for meaningful interpersonal connections. Scott advocates for governmental intervention, suggesting tax subsidies for "third places" like softball leagues, nonprofit running clubs, and subsidized gyms to foster community and social interaction.

"Where on earth are young people supposed to meet and fall in love? They're not going into work, they're not going to school, they're doing remote school." [(07:50)]

Furthermore, Scott challenges the anti-alcohol movement, arguing that moderate alcohol consumption has been a cornerstone of his own social relationships and that responsible drinking can coexist with professional success.

"I can pay people really well, which makes me feel important and masculine. And then anything above that I give away." [(07:30)]

He underscores the importance of fostering environments where young individuals can form friendships, mentorships, and romantic relationships without the exclusive gatekeeping of elite institutions.

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3. The Transformative Power of Wealth: Personal Reflections

Question from Reddit user boztenderoc (11:40): "How did your life change when you made money? I'm curious to hear about your transition from poor to able to pay the bills to millionaire to Deca millionaire to 100 millionaire."

Scott’s Response:

Scott offers a deeply personal narrative on how accumulating wealth has reshaped his life. He begins by debunking the societal taboo around discussing money, viewing such conversations as essential for financial literacy and empowerment.

"The zeitgeist that you're not supposed to talk about money is nothing but an effort by rich people to keep the poor and middle class down." [(12:05)]

Reflecting on his humble beginnings, Scott recounts his struggles during his time at UCLA and Cal, highlighting how financial instability once dominated his life.

"I went to UCLA, almost had trouble paying my bills... I had a 1984 Honda Accord." [(13:00)]

His entrepreneurial journey took a significant turn when he partnered with a financially stable individual, allowing him to achieve a comfortable lifestyle and, more importantly, provide for his mother. One poignant moment he shares is using his business resources to lavishly decorate his mother's home, creating a memorable and heartfelt experience for her.

"I decorated my mom's entire house at Pottery Barn, and she thought this was like the most opulent thing she'd ever experienced." [(14:10)]

Scott emphasizes that money has granted him the freedom to enjoy life, reduce stress, and make significant contributions to causes he cares about. He describes financial security as the absence of stress, where unexpected life challenges do not translate into financial crises.

"Money for me is really an absence of stress... my kids' struggles are not going to be a function of my inability to provide for them." [(15:10)]

Despite his wealth, Scott remains grounded, choosing to spend money on experiences and generously supporting friends without expecting anything in return. He frames his philanthropy not just as giving, but as a form of consumption that enhances his sense of masculinity and importance.

"I love to spend money and to give it away. That was a lot." [(16:30)]

Ultimately, Scott views wealth as a tool for reducing personal stress, enhancing life experiences, and enabling him to support and uplift others.

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Conclusion

In this episode, Scott Galloway provides a candid glimpse into his evolving relationship with academia, critiques the exclusivity of high-end social clubs, and shares a heartfelt account of how wealth has transformed his life. His reflections offer listeners a blend of introspection and critical analysis, encouraging a deeper understanding of the intersections between money, social structures, and personal well-being.

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Notable Quotes:

• "I've returned all my money. So I'm a pretty easy person not to fire right now. I don't cost them anything." [(01:20)]

• "I'm a professor in name only right now. But I plan to teach again." [(03:10)]

• "They're price discriminating by age. They want more younger people, but the junior memberships are still a lot of money." [(07:15)]

• "Where on earth are young people supposed to meet and fall in love? They're not going into work, they're not going to school, they're doing remote school." [(07:50)]

• "The zeitgeist that you're not supposed to talk about money is nothing but an effort by rich people to keep the poor and middle class down." [(12:05)]

• "Money for me is really an absence of stress... my kids' struggles are not going to be a function of my inability to provide for them." [(15:10)]

• "I love to spend money and to give it away. That was a lot." [(16:30)]

---

Stay Connected:

To participate in future episodes, listeners are encouraged to submit questions via voice recordings to [e-mail] or post them on the Scott Galloway subreddit. Join the conversation and engage with Scott on pressing topics surrounding business, technology, and personal development.

Transcript

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[Scott Galloway]

Imports, Chicago, IL Avoiding your unfinished home projects because you're not sure where to start. Thumbtack knows homes, so you don't have to don't know the difference between matte, paint, finish and satin or what that clunking sound from your dryer is. With thumbtack, you don't have to be a home pro, you just have to hire one. You can hire top rated pros, see price estimates and read reviews all on the app. Download today. Welcome to Office Hours with Prof. G. This is the part of the show where we answer questions about business, big tech, entrepreneurship and whatever else is on your mind. What's happening? Just a reminder, you can now catch Office Hours every Monday and Friday. That's Tuesday, two episodes a week. If you'd like to submit a question for next time, you can send a voice recording to officehoursofficymedia.com Again, that's officehoursoffertymedia.com or post your question on the Scott Galloway subreddit and we just might feature it in our next episode. What a thrill. First question Our first question comes from wildsource1359 On Reddit they ask what's the deal with you as a teacher at NYU Stern? You currently live in London. You are constantly flying around the globe. How and how often do you actually teach? Is it over zoom? Is it for a concentrated period of time? Say one week? Okay. The bottom line is I have not taught at NYU a three unit course since COVID When I moved to London, I offered to resign and they said don't resign, you're good for the brand. Also, I don't in 2017 when I sold my last company, I returned all of my compensation up until that point to NYU and said I make a really good living. I've gotten really lucky. I don't want to take compensation from NYU or be a part of this industrial complex that keeps raising tuition. So I returned all my money. So I'm a pretty easy person not to fire right now. I don't cost them anything. As a matter of fact, I give money back to nyu, but I also do. I speak a lot there. I do symposiums. The deans have used me as a weapon occasionally for fundraising or to do talks in Europe. I'm moving back to the US in about a year and I will begin teaching again. But no, I haven't taught in a couple years. I do teach online courses for section which is upskilling enterprise professionals for AI. I do quite a bit of teaching there over zoom, but I haven't taught in person. I'm actually a little bit intimidated by it because I haven't done it in a while. I'm what you call someone jokes I'm a Pino and that is a professor and name only right now. But I plan to teach again. I've taught about somewhere, I think between 4,000 and 4,500 students over the last 23 years. And I was just a little bit burnt out on it quite frankly. But I'm looking forward to getting back in, you know, back in front of the lectern in about 12 months time. Appreciate the question. Question number two. Our second question comes from Captain Lance Murdoch. Captain Lance Murdoch. Where did they get this shit? On Reddit they say, scott, you talk a lot about expensive private restaurant clubs separating the rich and by steering money away from open places, hear the offline experience of the younger generation just beginning to build wealth. Should there be a more affordable private club option that comes in below the top of the market and tries to bring the experience to more people? Could this work? Is the community and organized services that is the draw or is it simply the expensive exclusiveness that supports the model? Yeah, and I think the market will take care of this to a certain extent. See, these clubs are already going where you're going and that is they're discriminating by age, which I have absolutely no problem with. I'm a member of, I join everything. I have a very. It's not even a fear of death, it's an embrace of death. I think my time here is limited. I think the amount of time I'm going to be willing to go out and get drunk and have people bump me. And I'm not going to get aggravated or upset or endure the hangover or appreciate loud music or even be able to hear the people I'm having dinner with at a place with loud music. I think my days are numbered. So I want to do fucking everything I want. I finally have the money. Most of my life I didn't have money. I was always like saving for something or trying to buy a house or investing in a startup or paying off my debts after a fucking.com implosion or the great financial recession. So what they've done though is they price discriminate by age. And that is they, almost all of them have junior memberships where I pay 5,050 or 50, $500 a year, which is fucking insane. You pay $5,000 to go buy dinner and drink somewhere. But they spend a lot of money on the club, additional finishes and they curate, quite frankly, they curate the people a lot of cultural events. It's kind of aspirational when people are in town to take them to the hot new club or whatever. And also you're signaling your value. You're signaling that you're cool enough to be a member of Zero Bond or Shay Margot or you're, you know, you are a bit Yarrow trash and take them to Casa Cipriani, which I love. Which I love. Weird location, downtown, tip of Manhattan. It's kind of weird. I'm gonna go down there, I'm like, I feel like I'm gonna escape from New York and Kurt Russell's gonna show up with a sawed off shotgun or the zombies are gonna come out of the water anyway. But typically if they're charging me $5,000, they're charging junior members $1,500 or $2,000, so that's still a lot of money. But if, if you want to be in a membership club, there's going to be membership. And they are starting to price discriminate. I think the anti alcohol movement is terrible for young people, terrible. I think the risk to your 25 year old liver of alcohol are dwarfed by the risks of social isolation. And young people need to have more friends, they need to approach more strangers, they need to laugh more, they need to fuck more, quite frankly. And all of that leads to one place, Alka Mahal. And I just think the fact they're drinking less is not a good thing. And I'll get a lot of shit for that. But I'm sticking by my guns. If I look back on all my best friendships or romantic opportunities or great times. Oftentimes they involved alcohol. I don't think there's anything wrong with it. And 90 to 95% of people, young people can figure out a way to manage their substances and their professional life. Anyways, I would like to see a tax subsidy for third places. A third place can be a softball league. Obviously religious institutions are a nonprofit Nike's running club where they get people together in person. Subsidized gyms where people can bump off one another. I'd like to see some sort of tax credit where if you aggregate enough young people in person, you get special tax status as a third space. Because where on earth are young people supposed to meet and fall in love? They aren't going into work, they aren't going to school, they're doing a remote school. They're not going to religious institutions. So anyways, a long winded way of saying I'd like to see more emphasis and more opportunities for young people to get out and find friends, mentors and mates. And anyways, back to your original question. These clubs are smart. They're offering a junior membership because quite frankly, they want more younger people. They see an opportunity those people can't afford the same price point. And also being a cool club and aspirational just involves having a lot of young people there or a decent number of young people. I appreciate the question and I hope I see you out drinking and enjoying yourself. We'll be right back after a quick break.

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Welcome back. Our final question also comes from Reddit user boztenderoc asks, how did your life change when you made money? I'm curious to hear about your transition from poor to able to pay the bills to millionaire to Deca millionaire to 100 millionaire. We've gotten some hints from your stories, but it would be interesting to hear more. I think a lot about money and I talk a lot about it. And I think this zeitgeist that you're not supposed to talk about money is nothing but an effort by rich people to keep the poor and middle class down. If you want to be good at something, you need to think about it and talk about it a lot. And talking about it a lot gives you ideas and opportunities and can be quite cathartic because a lot of us are struggling or stressed out by money and don't want to talk about it for fear makes us seem weak. And I think it's helpful to understand different tricks and different opportunities in the tax code and what your friends are making such that if you're being underpaid, you can be more aggressive about finding another job. So I talk about money a lot and I probably think about it too much. I didn't grow up with a lot of money. I went to UCLA, almost had trouble paying my bills at UCLA, had trouble paying my bills out of UCLA, went to Cal, no money, had a 1984 Honda Accord. I was happy and I was fun and then poured all my money into my first company, profit. I started making money basically when I found a partner who was also making good money and the two of us together could start living a nice life. The best thing for me, I mean one, you have a nicer life when you have money. I was able to move into a nice home in San Francisco. But the motivator for me and the biggest payoff for me was I got to take care of my mom and I got to spoil my mom before she passed away. And I know that's a lot of virtue signaling, but it's true. My mom had taken really good care of me on a secretary's salary. So I remember, I'll always remember, I got one of my first clients at Profitt. My brand strategy firm was Waymp Sonoma. And one of my mentors there, this really wonderful guy, was the CMO named Pat Connolly gave me. He said, don't tell anyone, but I heard your mom just moved into a retirement home, a retirement community. I'm going to give you an employee discount. And I decorated my mom's entire house and Pottery Barn. And she just thought this Was like the most opulent thing that she'd ever like, that she'd ever experienced in her life. And it was such a nice moment for me to serve that role as protector and kind of spoil my mom. That's the first thing I think about when I think about money. The next thing was getting to do really nice things, experiencing great things. I like spending money. I'm good at it. How do you get good? There's so many people who don't know how to spend their fucking money. If you have a lot of money and you don't have a nice place to live and you don't go to F1 in Montreal, or you don't go to Cam Lyons, or you don't meet your friends in Vegas and go see U2 at the sphere, what's the fucking point? Spend it. And that's when you know you have some financial security. But I kind of went from never having enough money to having a decent amount of money to all of a sudden having a shit ton of money. It's like aging. I was always the youngest person in the room, and then all of a sudden, I was the oldest person in the room. I was never the same age. And that's kind of the trajectory of my wealth. I was always reinvesting back in my companies. Failing, reinvesting, failing, getting by, decent living, but not a lot of money. And then I hit it big, mostly because the markets went crazy from about 2009 to now and was in the right place at the right time, with the right skin color, outdoor plumbing, able to raise a shit ton of money. Also, I'm not humble. I'm a fucking monster. I'm in the top 1%, but my wealth is way more than the top 1%, because the smartest thing I've ever done was be born in america in the 60s, a white, heterosexual male. A lot of my success is not my fault. So being able to take care of my mom, getting to do nice things, and now money for me is really an absence of stress. What do I mean by that? When my first son came rotating out of my girlfriend, all I felt was shame and fear. It was 2008. I had just lost pretty much everything in the great financial recession. And I thought, you know, I'm failing as a father. That was literally my first instinct. It wasn't like angels singing in some fucking insurance commercial. It was like, I failed this kid.

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[Scott Galloway]

And I was very scared. I was really stressed out about money and not being. It's one Thing to fail yourself. I'm talented, I can always make enough money to take care of myself. And I'm like, God, I don't have as much money as I thought I was going to have. So getting financial security and economic security for me was just an absence of stress. And happiness is not only a function of the things you have, it's a function of the things that you don't have. Specifically an absence from stress that if you find out your wife has lung cancer, it doesn't also mean you're going to go bankrupt. And that my kids struggles are not going to be a function of my inability to provide for them. And that's just an enormous unlock. It's always been something. And I know you can have a middle class life and live well and raise your kids well. I was always, I don't know, I've just taken too much incorrectly self esteem or lack thereof for my economic viability. So an absence of stress. And now it's. I do amazing things with money and I think I'm really good at it. I hit my number and I decided to get off the money hamster wheel. I hit my number eight years ago, unless I really fuck up, which I've done several times. But unless I really fuck up again, and I'm trying not to, I'm diversifying, I should be fine. And so what I do is I've decided there's just no reason why I would ever need to be a billionaire. When I sold my company in 2017, I thought, I'm going to take 25 million and raise another 250 and start a private equity fund because I would like to someday be a billionaire. And then I read some stuff and I'm like, why would I want to be a billionaire? Why would I want back on this hamster wheel of stress? And I've been working my ass. I've been doing nothing but working for a quarter century. I had boys at home, I had a wonderful partner. I had a capitalist society that lets you hang out at some Argentinian super cool hotel for 1000 bucks a night and go eat amazing food. And then I give the tech guy here 100 bucks and he finds me a Mac laptop and he thinks he's died and gone to heaven because I gave him 100 bucks. And I can go back to when I was a waiter and someone gave me money and it made me feel really good. I can feel masculine, I can feel important. But where I am now is I'm going to. Every year I look at my number and anything above that number, I do one of two things. I either spend it. I love to spend money. I'm selfish. I love to have a good time. I do amazing things. I have a plane. I never let money get in the way of a good time. If my friends are busy, I'll send the plane for em. If they don't have as much money or they're not as blessed, I pay for shit. It makes me feel good. I have no reciprocal expectation around them doing anything back. If that sounds like I'm virtue signaling, I am. But it's also true. I can pay people really well, which makes me feel important and masculine. And then anything above that I give away. And I don't think of it as philanthropy. I think of it as consumption. When I give money to the University of California, when I give money to charities focused on teen depression, I'm like, okay, I can talk about struggling young men because I am fucking walking the walk. You want to have money such that you can reduce the stress in your life. You can take care of people who you love and have been good to you. You can tried to restore some of the incredible values and recognize the opportunities that were given to you and make sure those opportunities are presented to other people. And you can pay people well and you give money away and you can have a fucking ball of time and you can be really fucking masculine. It feels amazing to spend money and to give it away. That was a lot. Anyways, thanks for the question. That's all for this episode. If you'd like to submit a question, please email a voice recording to officehourvgmedia.com Again, that's office hours of prophetymedia.com or if you prefer to ask on Reddit, just post your question on the Scott Galloway subreddit and we just might feature it in an upcoming episode.

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