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What's next? Like a concert tour with Taylor Swift? Oh my god, I got all these podcasts, and then I'm headed out with this crazy lady for this seven-city tour. Hi everyone, this is Pivot from New York Magazine at the Fox Media Podcast Network.
Find Kara Swisher. I'm Scott Galloway. How is Scott Media Tour going? I'm seeing you everywhere, Scott Galloway.
Yeah. You seem tired. Not a media whore, just a whore. I'm tired.
I went to, I did the Daily Show yesterday, and then I did a Ben Stell Interview at the 92nd Street Why? Oh my god, last night. Last night, yeah. Oh my god.
How was that? I mean, I was in the hallway. I mean, Stell everything. Yeah.
But yeah, I was sold out. Of course it is. Ben did a great job. He was quite personal, and I would flip it back on him.
He would ask his very kind of personal living questions, and what about you, and he would just freeze. Oh, because you know, he just did that amazing documentary on his parents. Yeah. And it's a lot about his dad, actually.
I mean, it's about his mother, too, but it's about him becoming a man. It really is. It's a really, I thought it was spectacular. Everyone should go watch it.
But he put a lot of work into it. He prepped the whole thing, and I was very moved. He's always a pretty busy guy, and he did a lot of work into it. Well, just so everybody knows, you have the number one book on Amazon right now.
That's right. There we go. There we go. There he is.
Yeah. Yeah. Well, who's next? Like a concert tour with Taylor Swift?
Oh, God. I got all these podcasts, and then I've got this. I'm headed out with this crazy lady for the seven city tour. Oh, yeah.
So we got that. Yeah. We're going to sell some fucking books. We are.
We're going to sell some books. I'm going to finish with Mara week from tomorrow. So, yes. Can I come with you to that?
Of course, yeah. If you're interested. Yeah, I'm coming with you. What are we doing?
We're presenting to 13,000 people over the next seven days. Yeah. It's going to be great. Are you excited?
Are you getting excited? Am I excited? I'm tired. You must be.
You're going to have to rest. Okay. I used to do this when I was younger, and I realized I don't move it. I used to burn it from both ends for 20, 30 years.
Yeah. I was supposed to do something in New York tonight, and I canceled it. I want to be well for the tour. I was in Seattle for 24 hours.
What? In between the last time we spoke. You mean the Seattle? Yeah.
Oh, you guys stopped that, Cara. I know, but it was sort of one of our sponsors. I was like, I'm not going to work. Well, you're busy.
Oh, so two words cut and chain. Yeah, whatever. It was good actually. It was interesting.
So I have, unless I fuck up again, and I've fucked up a few times and lose everything again. I'm not done, but I'm pretty. Well, I'm done. Okay.
I'm done. But I still can't resist. I just got invited to speak at Jackson Hall for like my full speaking gig and I'm like, well, maybe I should go. So I look at it in the middle of fucking January when my kids are home and I should be hanging out.
I'm going from London to Jackson Hall. Oh, that's a long. I cannot get off the money train. I just can't.
I know. Sometimes it's a lot of money. I know. I know.
But if you're at a point where you don't really need it, it doesn't matter. I know theoretically I shouldn't go. I know. My kids are gone.
I mean, my son is 18. He's going to be gone next year. My youngest is at a great age. There's no quick turnaround to Jackson Hall from London.
I'm like, well, if the money's not going to be any different to my life, why am I doing this? And yet I keep saying yes. Well, it does a little bit. When you're poor, you'll be like, I'm glad I did that, Jackson.
I'll say, I actually, now I've been asking Amanda. I'm like, okay. I'm not going to tell her the figure. She's like, you need to go.
Which she says, no. That's sort of how I'm judging. But speaking of our tour, which is going to be very well financially, but there's going to be a lot of swisher energy just so you know, just be ready for that. I mean, swen energy.
Like you're going to come up to me and ask me if I'm gay. Lucky's coming to T.C. Wait, aren't you gay? I'm going to make her say that from the audience.
Looking up. Yeah. She's going to be an oatmeal poochie dress. Yeah, something like that.
And then Louie swisher might be in Boston. He's thinking of coming down. Oh, nice. I know.
I'm very excited that he called me. He's going to go to law school or he's going to be a high school math teacher. Yeah. He's moving to San Francisco.
I'm very excited. I can totally see that. He's a girlfriend. Yeah.
He's going to live in my house. His house really, actually, isn't it trust? They're going to name their first kid like Hoper or Wonder or something like that. They're total hippies.
Yeah. You talk about boys having good, both of my sons have great relationships and I'm happy. It's because we're raising dual parent homes and they're wealthy. Romance and marriage have become luxury items.
Literally the percentage of young men in relationships with women is unfortunately. It is. Sadly, tied to their income levels. Well, they're also very nice.
No, no, no. I'm not saying I don't even think it's because women are that attracted. As women get older, they figure out that a man's ability to signal resources is increasingly important. But at that age, it's more about confidence and skills.
There's just some really depressing stats in terms of the SAT. You've been on this tour. Let's go. Give me one and then we'll get to the things.
Go ahead. We're going to do this on the tour. We're going to talk about income inequality and the income inequality is the greatest between the middle class and the poor. It's not the income inequality.
The greatest gap is between the middle class and the rich. The rich have just literally launched into space in terms of income. They have. What you have in wealthy households is that.
The average high school, public high school in America can spend about $15,000 per student on educating them. Poor schools and poor neighborhoods because it's based on property taxes, which is probably one of the worst laws of construction in America. It's about poor neighborhoods get about $8,000 to $10,000 per student. The top private schools in America spend about $75,000 per student.
They charge about $50,000 or $60,000, they have big endowments, which they subsidize. That's everything for their compensation for teachers, teachers, training more teachers, resources after school sports, just all kinds of things. The result is the following. The delta and the average SAT score for middle class to poor kids is 120 points.
That is huge. Yeah. This though. The delta between that middle class score, which is 120 points higher than poor households, the delta between middle class scores and kids from upper income homes is 250 points.
So if you're a kid coming from a low income home, just out of the gates on average, you're going to be 370 points down on the SAT. Yeah. Don't even go into health statistics, but go ahead. And this is my big rant.
I'm a huge believer in affirmative action. You should be based on income of the household the kid was raised in a full stop. Wow, Zoron Mondami. I'm a new mayor.
You've got to stop that. You've got to stop that. I know, but you have a lot of similar talking points. I'm not suggesting government sponsored food lines where the DMV picks out my produce.
No, no. Again, the rich get everything. And this is the smallest of things, the smallest of things to make them healthier. Okay.
So they are better employees for the rich people, I guess. I don't know. Let me back up. Hold on.
I'm sorry, sorry. You can't throw this bullshit out there and they just let it sit there. It's not bullshit. It's just like the rich get everything.
It's gaslighting me. No. But budgets and you're not going to ground this reflect values. And this is America's values right now.
21% of Americans are under the age of 18, but 40% of SNAP food recipients are under the age of 18, which says America's values are the following. We don't care about our fucking children. We do not. If we have public policy that has decided that double the amount of children are food insecure than the rest of the population, that is a conscious decision on voters from both sides of the aisle that it's okay for the most vulnerable to be hungry.
And so you and I have common ground on that where we disagree is how to fix it. And when you insert government in the middle, cents on the dollar end up in the pockets of the people the program is supposedly for. So if you believe that people in the New York state metro that a lot of people need help finding food, then give them money and let them spend it at Kroger's or Trader Joe's or wherever they want, not government sponsored food stores where you'll end up with 10 or 20 cents on the dollar in the pockets of people who need it. This is a great debate to have.
He's the only one who brought it up, right? So that's what I'm saying. It's fine if we don't want to hit solution. It's how to get there is the thing.
The fact is one of the few people bringing up and all of a sudden Republicans are talking affordability now, but let's we got a lot to get to including Supreme Court. I agree, but that was his message. Yes, it was, but now he's back to it. He and Mondami are the same person.
Stop talking. We're going to get to it in one second. By the way, I would have voted for him the moment my in-laws threatened to leave New York, if he was elected. He got my vote.
Did they leave? No. All right. Let's get to it.
We got a lot to get to. There's an Alec Boblin leaving now. Who is? Alec and Hilare.
He doesn't need to leave the US every time there's an election. Right. Goodbye. See you.
Anyway, we've got a lot to get to today, including the Supreme Court questioning Trump's tariffs, which was a really interesting arguments. And why Palantir stock took a massive dive. Carter. In the 1920s, the Republican Democrats were writing high during the election.
Abigail Spanburger and Michael Sheryl won the governor's races in Virginia and New Jersey, respectively California voters passed Proposition 50 giving Democrats a win in the redistricting wars with potential pick-up of the five seats in next year's midterms. And, of course, Zohar and Mondamie, won the New York mayoral race, and Lee Defeating and Andrew Cuomo and Curtis Slua in his victory speech, whom Damne spoke about pushing back against Trump and his policies. Let's listen. Together, we're in a generation of change.
If we embrace this brave new course rather than fleeing from it, we can respond to all the fleeing from it. We can respond to oligarchy and authoritarianism with the strength it fears, not the appeasement it craves. After all, anyone can show a nation betrayed by Donald Trump. How to defeat him?
It is the city that gave rise to him. Meanwhile, Republicans are downblowing these. Can I just respond about it? Not yet.
In a second. Let me just go through everything. Yeah, your job is to pick up the trash. Okay, I know you're mad about Mondani, but you're going to have to get over voters' vote on it.
He's going to fight autocracy and the oligarchy as mayor of New York. Got it. You need to calm the fuck down. Let me finish.
Meanwhile, Republicans are downplaying these losses as best they can from blaming the shutdown. And others writing wins off as Blue State blips. Let's listen to House Speaker Mike Johnson. There's no surprises.
What happened last night was Blue States and Blue City voted blue. We all saw that coming. And no one should read too much into last night's election results. Off your elections are not indicative of what's to come.
That's what history teaches us. Oh, he's wrong. That is not true, actually. Except it wasn't just Blue States, Democrats also gained ground with victories in Georgia, Mississippi and lots of places, Bucks County, Pennsylvania, all over Virginia, Montana, like Colorado, all over the place.
And in fact, they lost their supermajority in Mississippi. There were some unusual voting patterns, especially among Latinos. And now they're worried about that redistricting things they've been pushing out of greed because it looks like Democrats can flip these red seats, which is interesting. Now before you go ahead, a lot of male voters played a big role in the last election moving to the right to vote for Trump.
Things swung back this time. Exapolos show Mondani won 68% of men between the ages of 18 and 29. Spamburger won 57% of that group. And Cheryl won 56% are giving you lots to go at.
Let's take a swing at it, Scott. Grumble about Mondani and then let's go. It felt I don't know about you. I felt alien to wake up yesterday morning as a Democrat and having won this decisive.
Like I don't remember feeling this. I didn't recognize the feeling. The Obama feeling. What do you want?
I just didn't recognize it. And it wasn't it wasn't that these candidates won. It was the margin that they won by up and down the ballot. It just went blue all over the place.
And there's some, there's some credibility to the Republicans comments and also Trump was proud of Trump's not on the ticket. These these ideas and policies just don't work. They don't resonate. But it was also because of Trump.
It was a very Trump fueled election for his policies. People, you know, people vote for Trump, not his policies. This is what it looks like. Some of the observations, the things that unfortunately, I find it really discouraging the delta between different different age groups and agendas.
It just feels like we're separating. And you realize if from Mondani, women, young women, he won by 72 points. Yeah, women 18 to 29, when 84 to 12, right? Mondami and Cuomo and then people over the age of 65, women over the age of 65 went 21 points for Cuomo.
I mean, it's as if they're living in different nations. Yeah. It's just so strange to me that we have two Americas, unfortunately, built by age. And the reality is, in my opinion, it all comes back to the same place.
And that is old people such as myself and you to a certain extent, we have figured out a way to vote ourselves more money and create a series of policies that young people just say, I'm not down with anything you believe in, you have done, you have not left me the America that you enjoyed. Except that look, Mondani, 168% of men between 18 and 29, that is astonishing. And I'm not saying it's by gender by age. I think Cuomo won by like 20 points among men over the age of 65.
The thing here was the drive, the fulcrum of these results. And by the way, it was a landslide he won. And I've said this before, I'm not a New York resident, but if I was here, I think he'd give the guy the benefit of the doubt and you rally behind him, which Bill Ackman did. Did you see that?
I just think he's a fucking attention whore. Agree, but I'll take it. Okay, that's I should be cynical. That's the right tone.
That's the right tone. Yeah, it should be we all the best interest in the success of the city, the state and the country, take people with their word rally behind them and let's give them the opportunity. Let's let them cook instead of spending all their time defending cynical or biased allegations or trying to undermine them at every step, give them the benefit of the doubt and try and help them be successful. I think every American, every person in New York City has an obligation to do that.
Good for them. The other observation I would have is the following. Molly John Fast did a video piece on, and I like Molly, I just had her on the podcast for the New York Times saying, you know, does America have a biased against female candidates? And I'm like, no shit captain fucking obvious.
Let me just give you the basic statistics here. If you were to look at all of our elected representatives, all 535 people in Congress, the only thing they all have in common, like 90 plus or 97% of them, the primary requisite the box they have to all check, which is which means it's the key consideration for electing someone to a senior level of Congress is they have college degrees. So that's the primary qualification. For the last 40 years, almost 60% of college graduates have been women.
And yet 26% of our elected representatives are women. The reality is Americans still very much conflate height and depth of voice with leadership qualities when it comes to our elected representatives. And if you look at the candidate quality of the New Jersey and Virginia governor races, yeah, the quality that I think I can speak to this with some credibility, because if you look at their backgrounds, they were built in the factory from parts of lesser candidates. And their opponents were just, you know, fairly mediocre.
Yeah. And the fact that they the fact that it was even in granted towards the end, they just pulled away. It wasn't close, but the reality is if you don't believe that America still has really anti bias feelings against women with indoor plumbing running for an elected office, the two prime examples are Harris versus Trump and Clinton versus Trump. Yes.
Yes. But there is still while I talk a lot about the advantages or disadvantages facing young men, when it comes to elected politics, our nation is still highly sexist. Absolutely. Let me jump in here.
One of the things about Abby's man burger, which is really interesting is her mother was like a massive fighter for the equal rights amendment and was sort of mocked by the Virginia legislature and her daughter is the first woman governor of Virginia, which I think take time. So I would agree with you here. It's taken too long in the US. Other nations are way out of it.
But now we have all these like women governors. There's a lot of women governors, which is really interesting. Not they should be half and half, but there's quite a gang now of them. You mean a gaggle of women?
You mean white women drinking wine? No, there's all these guys. You know what? Actually, there's a lot of women of color who won mayor ships around around the first black woman.
There's a bunch in smaller cities and a lot of these city councils shifted to Democrat up and down the ballot, up and down the ballot city councils and places. And there are a lot of women in those groups. And so you've got to bring them up like you've got to just keep shoving them through the pipeline essentially all the way up. And I think possibly some of the ones that have run for public office at the higher level just got so beat up.
Hillary Clinton got the shit beat out of her by the right. Like, you know what I mean? Like they made it so she was so unattractive to voters in many ways. And I think the same thing for Harris, I think there will be a series of younger women candidates that are coming up that will not have to deal with the baggage that both Clinton's particularly and Harris definitely had.
Now let's get back to I'm done with one of the things I know you're making fun of the oligarchy. I think running against oligarchies is a great message for Democrats. And I think that is that does resonate. I'm telling you when I talk to people, they're like, I want the Bernie Sanders.
Yeah, I got to say these rich people that Lincoln, why do you put pictures of Lincoln bathroom up? You know, he's building a marble bathroom while they can't afford it is such it's next to the affordability thing. But tax the rich and make things gross to use more affordable is a very good message for whichever party gets it accepted. Trump has been embracing the rich has his best friends and having them on his patio.
The visuals are very clear and that gold office. Jesus. So first off, and this is why I'll never run or be elected on focus on mechanics. And that is rather than saying tax the rich where most rich people pay really high taxes.
It's the super rich and a better message. It's just to enforce the current tax loss. There's a $700 billion tax gap because what the Republicans did, which is genius, which the Democrats have not called out, as they argue around the tax code, what the Republicans have done is delivered the biggest tax cut in history by virtue of cutting the budget of the IRS. Yeah, the tax code is meaningless for rich people because here's the bottom line of the law is in America, the top 1% are now protected by the law, but not bound by it was the bottom 99% are bound by the law, but not protected by it who pays their exact share according to the IRS of taxes, people with simple tax returns.
No, I don't know that they'd have a number that goes under income. And then there's a tax rate. But if you have a 80 page tax return to limited partnerships and capital expenditures, and your tax lawyer says, when you're going to trust me on this, don't hide income, but be as aggressive as possible because they don't have the manpower any longer to look at this thing. You're just, we need to be smart about what's the objective is to get more money into the treasury.
It's very simple. You don't even need an alternative minimum tax. No, no loopholes. If you make over a million dollars, you pay an alternative and AMT of federal income taxes of 40%.
That would massively increase our receipts. Of course. But guess what? Trump is like friend of billionaire.
He's got that's his image. And he'll try to not do that. But these people have open access to the White House, right? That's what they have.
They walk in and get with it. It's an oligarchy. A oligarchy means communism and socialism. Well, it's a good message.
So I don't know if you saw this, but there were billboards all over New York showing it was just, Oh my God, fucking brilliant. And it said, I'm Tommy, 92% likelihood of winning Cuomo 8%. When you see that, when you see that, you're like, if I'm voting for Cuomo, I might just not bother, right? That's it.
We're done. And it gives it gives mom, Domia, whoever is projected as the runaway winner, it's basically the biggest endorsement ever that they could get from any group. It really helps the candidate. But they were accurate.
They were also accurate. Well, but here's the thing. I'm saying for any candidate, it's a self-fulfilling prophecy. When you see polls showing that person way up, you start believing, well, maybe they deserved winning.
There's a reason they're winning by such a large margin. And you know, with a majority of bets, right, are coming from these prediction markets, not here, the majority of the bets on polymarket that indicate and send a signal about the election and likely affect the election, the majority of those bets are coming out of China in the Middle East. So if you're the CCP, again, this is what we would do. I think they'd be stupid not to do it.
I would be fucking with our elections by skewing the numbers from the reality based on what we saw as divisive. We being the CCP on Cal Shimp Holly Market, which sends a very, very strong signal around who's going to win. Well, we'll see if more people, I don't think as many people know about it as you think. Oh, the media, it's the new Dow Jones and Nasdaq.
Yes, I get that. I get that. But you know, I don't know, polling has gotten tarnished. I think they'll get tarnished eventually if it's too gained.
And we'll see where it goes. Well, you know, my suggestion is that I'm polling. You should absolutely take a poll and stick it up your ass. Okay.
All right. Let's look. Okay. And then look for the on switch.
Look for the on switch. He's back. He's back when I was in London during the presidential election. I went on every podcast.
It was 30%. It was 30% Harris, 70% Trump. I'm like, it's a coin flip, folks. And so I thought I'm smarter than your average bear and dada, and I said, I'm going to bet $300,000 on Harris.
And if I win, I'm going to get a million back. And I was up till a goddamn two in the morning in London trying to figure out how to bet. And it ends up you can't as a US citizen in London. I brought in the big guns.
I brought him a 15 year old to aid in about his father's gambling and dopamine addiction. And the next day, and of course, you know, the results and everyone online just went crazy. Like this guy lost 300 grand on Harris. And I would have had been able to figure out Calche your volume.
Oh, exactly. Well, then maybe not. Okay. All right.
Then maybe I still don't understand. I tried to understand it was very hard. We're going to go on a quick break when we come back from the tariff space, the Supreme Court. Support for the show comes from Odo.
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So why not you try Odo for free at Odo.com. That's Odo.com. Support for the show comes from Odo. Running a business is hard enough.
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To expand those principles to include more people. What's going to determine the next 250 years of America? And how do we write a new social contract that can give us the democracy we deserve? Okay, so I'm just going to be a jerk here because I'm a historian.
So we have to have a prologue explaining, you know, we the people. Okay. You know, I just don't remember it from School House Rock. We the people are going to the former War for Gudia.
That was Justice. What is it? Insure domestic tranquility? So you're talking about a foundational document.
So I'm building a document that will protect American democracy. That's this week on America, actually. Scott, we're back. A majority of the Supreme Court justices are skeptical of the Trump administration's authority to impose sweeping global tariffs.
The court heard arguments this week about Trump's use of emergency powers to set up tariffs on goods from over 100 countries. The administration is claiming tariffs are just regulatory, but justice is on both sides. Basically, said these are taxes and only Congress can tax people. Trump is calling for the case quote literally life or death for our country.
If the terrorists stand, they'll collect $3 trillion by revenue for the US by 2035. If not, the government might have to refund $750 billion, which it shouldn't have gotten. It's not clear when the court will issue the ruling, but what does that mean for Trump's signature economic policy he loses? I think they're going too tight against him, and I think they're doing him a favor because they're going to get him out of this jam and then he can pretend it was them who did it.
I don't know. What do you think of this? Speaking of investing, you know how I went out and I bought claims against the bankrupt FTX because I thought they're going to be there. I found in the bankruptcy filing, which is if you wonder what I do late at night on edibles, I read bankruptcy filings that they had invested about, I think it was $500 million in and I thought this has got to be worth $3 billion, meaning that $0.30 on the dollar because the total claims are $8 billion against the bankrupt FTX.
They were going to get back just in and drop stock. You could buy these things for about $0.22. I went out and for me bought a lot of bankruptcy claims against the bankrupt FTX. What I've had someone working on the last two weeks is the following.
First up, there was an economist who went on Fox and they said, who's paying these tariffs? He went into this whole song and dance with it. Sometimes it's the person exporting in, say it's Mercedes. Sometimes it's Mercedes takes a little bit, the consumer takes a little bit, and the recipient of the product.
First off, what he's trying to say, he's claiming that because Mercedes might have to reduce its prices if they don't want to lose share. It's fine, but it'll be clear, folks, the recipient in America who signs for the Mercedes that gets off a ship pays the tariff. They may choose not to pass it on to consumers or they may. Eventually they will because companies need certain operating margins.
It's disingenuous to say it's being split across all these entities. It's not. A tariff is paid by the recipient in our country. Now, what I've been doing is looking into the following.
I am considering buying claims. That is, if Mercedes of Wisconsin has paid 11 million dollars in tariffs, you can go buy them right now from Mercedes of Wisconsin for somewhere between 10 and 15 cents on the dollar. They didn't think they'd get them back. They didn't think they'd get that money.
They'd never see that money again. I believe there's a greater than 10 or 15 percent likelihood that these tariffs are reversed and the government has to cut a check to all those claimants who paid tariffs. I actually think this is a decent investment strategy is to go buy claims or go buy tariff payment claims. This money will be refunded as your point.
You feel like the Supreme Court's going to back him here. Not back him. The opposite of backing him is going to go against Trump. Exactly right.
Mercedes of Wisconsin has spent 10 million dollars on tariffs. These tariffs have been challenged in court. If the Supreme Court overrules it, the government is going to send a check to either Mercedes of Wisconsin or whoever owns that claim. Although that was what the Supreme Court was all wrapped around the axle.
A friend of mine, Neil Cottle, did the argument. I thought he was brilliant, by the way. That was the one thing they were like, oh, now how are we going to give it back? Oddly enough, Howard Alutnik was such a moron every time I see him.
I think moron was like, oh, I think the Supreme Court is going to say yes to us and stuff like that. He was going on and on as if he knew exactly what would happen. Is there any way that could happen? Only because I thought he's a moron.
When you say anyway, anyway, what? That the Supreme Court could be in Trump's favor. One and two, the one thing that did stick in the crawl was how to pay back the money the government took from consumers. Well, people don't realize when they reverse engineer it to what has really hurt America.
It's things like Ruth Bader Ginsburg believing she's going to live forever. It's appointment of exceptionally conservative justices. The Supreme Court, in my opinion, is no longer really a check against power. It's an enabler.
The reality is the president who the people elect gets to make this appointment. Through a series of unfortunate timing and biology, the lasting impact of this presidency won't be tariffs, anti-immigration policy, a destruction of our alliances. Although that'll be right up there. A lot of marble in the Lincoln bathroom.
It's essentially the final backstop against the most important decisions that impact Americans, whether it's bodily autonomy or international policy, whether or not. The president right now is essentially ordering extra judicial killings of people in fucking fishing boats. By the way, folks, if you're really worried about drugs, you realize these fishing boats would have to refuel 20 times to get to Miami and that there is no fentanyl being produced in Venezuela. Yet supposedly we're taking our trillion dollar military budget to strike fishing boats without any...
Well, P-TECS has to do something. But get back to this. What do you think's going to happen here? How are they going to return the money?
Let me be clear. I think probably the likelihood is if I buy these claims that I don't see my money, but there's more than a 10% chance I see the money. Right. Okay.
So I like my upside. I think maybe there's a one and three chance. I'm just using that number that the Supreme Court rules against Trump and says, you got to give the money back. And then I think I actually think logistically, if they can figure out a way to take the money, they can figure out a way to send it back.
The government figures out ways to send refunds, iris refunds all the time. It takes a while. I found out I overpaid my taxes this year. They kept it.
And I'm like, okay, how long will it take to get it back? And they said 12 to 18 months because there's no one home. The lights aren't on on the IRS. Or we'll apply it to your next year's test.
Whatever it is. But they're very good at taking it out. The IRS hasn't figured out a way to take it right out of your account. Right.
Getting it back. It's like trying to cancel your Verizon bill. Right. I got one from DC and I got a couple thousand dollars.
I'm like, we'll keep it for next year. I was like, well, send it back to me. Like, why should you keep it? But their first move was to keep it.
That's for sure. Well, try and cancel Hulu. It's super easy to sign up. Try and cancel it.
Yeah. And by the way, I have a consumer bone to pick on like seven on your side. Remember those local TV things where they go narc on some consumer thing? Yeah.
I love seven on your side. I wanted to do that for years. All right. I got a seven on your side.
So when my mom passed, I set up an account and put some money in it in her account, such that we could pay bills that would keep rolling in, right? And I noticed like three years later, it was down. I couldn't account for something like seven or $8,000 of it, maybe four years later. I'm like, where did this go?
And her auto insurance was automatic pay to Geico. Oh, you didn't cancel it. After I sold the car, three years later, they will still take that money out. And guess what?
I just got my AT&T bill. I switched to Noble Mobile and Dreyenck's new startup in the mobile space. And my AT&T bill, I've always said this for some reason is about $450. But Scott, named the lazy douche that he is, never actually checked out the bill.
And so my assistant when we switched over said, wow, you're paying $450 a month. I'm like, yeah, you guys, you know, why are you paying $450 a month? My actual phone bill is $240, by the way, is about two and a half X, what I'm going to be paying on Noble. But I was paying another $200 on three other accounts.
Oh, that aren't on there. And one of them was for a Blackberry from 10 years ago. Oh my God, Scott. So I have been paying $700 a year for the better part of a decade on a Blackberry that's been in a landfill for the last nine years.
Because guess what? You're a lazy fuck. They could easily send a signal to say, is this in fact an active line and maybe send you a quick email? They could do this so easily.
Yeah, of course they don't. You're a mark. And they're like, Oh, no, they would be charging me for a Blackberry 10 years after my death. I think you deserve that.
I have to say, I'm down with the company. If you're not stupid, let them cook. Let them take your pocket. Anyways, AT&T literally you, somebody like I have paid for the snacks in the Madison, Wisconsin office of AT&T for the last 10 years of my Blackberry.
Well, much deserved because you're dumb as you don't pay attention to anything like that. Dumb ass. Dumb ass. That's the name of our pivot to it.
Dumb ass and smarty. Cara dumb ass. I can't everybody wants to hear about me. Not about any of the shit.
Cara, let's be honest. All right. Well, good to know. So just that I'm going to move very quickly.
Just as I predicted billionaire and friend of Elon Jared, Isaac Minh is back in the running to head up NASA. President Trump has been nominated after pulling back over concerns about past democratic donations. Isaac Minh's the 42 year old payment company founder who's actually been to space twice on his own time via SpaceX. I mean, just the short ride to space.
Two weeks ago, Elon Musk went after current interim. She shot down for opening up SpaceX moon contract other companies. No love loss there. Trump's gone back to Elon's back.
Like I saw he might, but the agency is still facing massive budget cuts and trying to be China back to the moon. You know, I guess he's fine. I mean, he's more qualified than other people, I suppose. But the whole thing is just, it's kind of too little too late.
I would like an actual space scientist to be running. So not friends of Elon or people that give, I think this guy ended up giving Trump some money to whether he must have given them Democrats money, which I need to explore. Loomer crazy. I don't know.
I'm not sure it matters at all here, but Elon definitely is a good that that was a good thing for Elon. Well, it reflects a dangerous trend in that as we decided to privatize a lot of efforts that usually the nation undertakes and this is pretty straightforward. Elon Musk was a very smart guy. He said, if we reduce the government's ability to launch aircraft or explore space, they're going to be dependent on the private sector.
And I'm the, you know, I'm the previous role of the dance in the private sector. And I don't want to compete with a space agency that does not have a profit motive and therefore can make these forward leaning investments in space exploration. And I think the saddest thing about this is that NASA has consistently been an enormous point of national pride in an era when we need more connected tissue where Republicans and Democrats both rally around the Mars lander, you know, like somehow crashing and inflating and figuring out a way to survive, how to get on the Mars surface and take these amazing photos or these, I forget what it was, the Hubble telescope sending back those unbelievable images of deep space and making you feel insignificant in kind of a wonderful way. So that's a, that's a bummer.
Having said that, as far as this guy goes, this is like the least triggering thing for me right now. Exactly. I mean, fine. John Duffy was the other choice.
So I'm like, and he's better. And also there's something to be said for bringing in a civilian to manage government agencies who can have a broader perspective. Like typically, the secretary of defense is a private sector person. Because when you bring in a former captain, game show host, no, but some, I mean, they've said it.
If we had a general running, was, who was, was Secretary of Defense, we'd still be in Vietnam. I mean, they're fine. Although, a lot of them, I got, I got to give it to them. I seem to be more tempered and measured than many of our leaders now.
It is good to have a civilian check on government. I don't, I don't mind this. This is the bottom line. I don't, I'm not offended by he's not the best choice, but he's not a terrible choice.
And the other choice was Shonda, he seems like a speaking of morons and moron. Anyway, we'll see what happens. I was correct about this. And I was right.
I was right. You're right. The new book from Caris Wisher, the new autobiography and I was right. Oh my God, the poor aren't getting vegetable.
Oh, damn it. I just run driver's license tests at the DMV. And now I'm picking up produce for New Yorkers. That makes all kinds of sense.
Oh my God, we're going to have to have a wrestling match on stage over this situation. All right. I'm going to invite some more on Donnie to the New York. He'll say no, I've already invited him several times.
He's the only person that said, no, I'm raging moderates. I concur with him on that issue. All right. He'll get on you sometime.
He'll take you downtown. He's very good at debating. Oh, yeah. I hope so.
He's very handsome. He's very quick. He's not quick. He floods the zone with nothingness and like rehated rhetorical flourish.
Even James Carville, your favorite southern person James Carville was like, it was all a dollar, it was all down. We're going to have us an election. Council boats. I love James Carville.
Jimmy C. All right. Let's go on a quick break. We come back from Sarah's face.
The Supreme Court. This week on Network In Shell, I'm joined by Tanksen Atra, the meme king with over 15 million followers across Tanks, good news influencers in the wild and his personal account. Tank is breaking down what the meme economy really is, how much a single sponsored post pays, why major brands are throwing serious money at jokes and how mean culture, think preparation, age, starter packs, and a perfectly timed screenshot is actually reshaping how we think about money and value. Get ready for a conversation that'll change the way you scroll, make your rethink, but going viral is really worth and prove that sometimes the most serious money moves are wrapped in the silliest of jokes.
Listen, wherever you get your podcasts or watch on youtube.com slash your rich BFF Scott, we're back. Palantier is having a really roller coaster week that company posted blockbuster earnings Monday, topping endless expectations and raising its full year guidance. CEO Alex Carp, who seems something's going on with Alex Carp call, he was started strange and now he's moved to very strange, called the quarter quote, arguably the best results that any software company has ever delivered. Despite those numbers, the stock fell 8% part of concerns over the valuation, which is soaring, but also because of filing revealed the big short investor Michael Burry bought more than $1 billion in put options in Palantier and Nvidia, the Burry news really got under Carp's skin.
He really should have taken a breath before he did this. He got a little testy talking about it on CNBC. Let's listen. Currently, as far as I can tell, the two companies he's shorting are the ones making all the money, which is super weird.
The idea that chips and ontology is what you want to short is bat shit crazy. He seemed crazy, but then he went on about anti-woke companies. He used to be weirdly democrat, but a little bit libertarian. Now he seems to have been sucking on the Kool-Aid of right wingery.
What do you think of these Palantier numbers and what Burry might be up to possibly shorting these stocks? You've talked about these valuations quite a lot. The question is, is Carp a brilliant CEO, and is this an amazing company, or is it dramatically overvalued? The answer is yes.
This is an incredible company. It blew away really aggressive earnings at 21 cents, delivered 21 cents versus 17 cents, 1.2 billion versus 1.1 expected. Their commercial software sales grew 121% year over year. US government sales are sales to the government, grew 52%, which is actually better revenue, because while the government is really hard to sell to them, once you sell into them, they become like AT&T just billing you over and over.
Overall sales grew 63% from year over year revenue growth of 48% last quarter. It's an incredible company. I would argue that in terms of investor relations, he's probably one of the most talented CEOs in history. He's the one that did an earnings call on his phone, walking around the office.
He's able to paint a vision that gets people excited. At the same time, if it went down 70% tomorrow, it still wouldn't look cheap. It trades at almost 300 times earnings and 125 times sales. It has the greatest or the highest price of sales multiple in the S&P 500.
Get this. It's got a similar market capitalization or value to Netflix with one-tenth of the revenue. It's trading at the same valuation. What is Murray doing?
Swelling for the people? Well, it's very simple. Murray's basically shorted the stock, where you basically agree, you enter into a relationship with a third party who says, all right, if the stock's trading at 400 right now in six months, I'll give you $10 or $15 now in exchange. I get to sell you stock in six months for $400.