Hey, I'm Matthew Shell, comedian writer and floating head you may or may not have seen on your FYP. I'm starting a brand new podcast Wait, don't swipe away. It's called that sounds like a lot You know that feeling when you check your phone read a few headlines and think that sounds like a lot I can't do this. Well, I can I'm gonna get into it every Friday You can watch on YouTube or listen wherever you get your podcast I'm gonna start by breaking down whatever insanity is happening in the world And then I'll sit down with a comedian or actor or writer or honestly anyone who responds to my DMs This is not the place to get the news, but it is a place to feel a little bit better about it That sounds like a lot coming May 1st part of the Vox Media podcast network Now I'd like you to give it up for pivot Karen Scott's weekly podcast that offers unsiltered insights into the way technology of shaping business and Culture across media advertising politics and more.
You know with great power comes great scrutiny Here's Kara swisher and Scott Galloway Alright, okay, so we usually do this separately often in San Francisco or DC and Scott is New York and sometimes we do it together And we've done one what went on to the last me trying to be me. Yeah. Well, it's not working Yeah, I want to be very black or I better yet. I'm Angie dick and son.
Okay. All right. Nobody understands that reference, but You'll get it. Okay.
All right. Um, in any case. We are we did it South by Southwest was a great was a word most downloaded podcast So we want we need a lot of energy from you because we want this to be our most downloaded podcast But we did a great one from South by so there's lots of predictions And if you know pivot basically, we just insult each other and then discuss the issues of the day essentially correct? Oh, you change your glasses.
Okay, all right, so we're gonna start doing it And I'm gonna do it the way we do it every on the high the hello thing. Okay, all right like okay, all right Hi, everyone. This is pivot from the Vox Media podcast network. Cheers, please.
We're live We're live from the co-conference this week. I'm Kara swisher and I'm Scott Galloway, so I'm glad you're here Scott I'm glad what do you think what do you think of my empire? What do you think this is like a a wedding in Tennessee in 2020 almost everyone I've met here is related to you. Yeah, okay, all right?
I see Cousins nieces x lives people carrying your baby You're literally like a nation state powerful person in an oil-producing nation. Uh-huh. This is just strange and inappropriate But I'm thrilled to be here. Okay, good.
Okay, you know these don't work But I think they make me like younger. Yeah, I think the likelihood that I end up making out with Maureen Dowd at the coffee bar Goes up about threefolded zero with these. Okay, by the way, that makes a new cycle I mean the dumpster fire that was that Susan was icky thing yesterday. Yeah, that's one thing but me making out with Maureen Dowd.
What do you think? As usual Scott inappropriate discussion of people's sex lives, but last week you did talk about your penis. So that was nice Which when you're related to Facebook don't criticize my hobbies Carol. Okay, all right.
So here's the deal We have a lot to talk about 30 minutes. We got to make predictions. We would like predictions from you all What we're gonna do is talk about some of the issues. So let's talk with Susan We just the interview that Peter Kafka did here thoughts Well, I'll put it back to you about 30 seconds I think you have to cut her some slack because this is my first code and if you do any hard analysis if you're a tech executive on a Risk-adjusted basis you just shouldn't do an interview because the downside is asymmetrically disproportionate So anybody that shows up.
Yeah, and is willing to take questions under hot lights and under the scrutiny. They're under deserves some credit She is like that. She does show up. She deserves that.
She deserves. Yeah, absolutely And I thought Peter Kafka was forcefully a dignified I thought he did a great job But this is reality. It's beyond hurts me on the interview and you summarize it perfectly the whole thing's gotten away from him Right, and there's this weird get shot. They're trying to create that's a myth and there's a bunch of myths We need to bust and that is for some reason there's some sort of societal and primitive or species right to post shit on these platforms There's not they talk about first amendment these communities have no obligation to the first amendment They don't give a shit about the first amendment That's a fallback position to try and allow millions of billions of pieces of content that they don't pay for it that they don't have an Obligation to screen so that they can have a supernova business model And here's the bottom line media companies have been making discretionary calls with one of the most expensive things in the world and that's called human nuance They decided they don't want to implement that so they default the bullshit like that first amendment right nothing to do with it Anyways, I thought I would take it back.
So what would you do if you were hurt like she didn't have a lot of answers So at least they're working on a lot of the things we talked about it was like so sorry We'll try to do better. We're working on it. Is it workable? Oh, it's very workable They need they need to break it up and they need to be subject to the same scrutiny If you and I said something here that got reverse engineered to a 70% increase in admittance to Merns rooms of self-cutting among young girls in depression We would be in a world of hurt for some reason we decided or in the content decency act We exonerated big tech because they're quote-unquote nascent technology firms from the same scrutiny as every other media firm So it's not only imposing deregulation It's removing old regulation and it's breaking them up because in the first corporate strategy meeting of YouTube post the breakup They say I know let's get into search and before you know it There's one company like 70% sheriff's search instead of 93 and there's one with 25 in the first corporate strategy meeting at Google Post the breakup Google goes I know let's get into video right and then two video companies one goes how we can get PNG to advertise on Google Tube or YouTube One goes I know let's go to these nice people at PNG and say you know what we're gonna make this a safe place for teams You know what head of Ford who served in the military We're going to honor the nation sovereign security and we're gonna make the requisite multi-billion dollar investment to ensure this platform Isn't weaponized by the foreign intelligence arm of the Russian government Competition is the key these people will never make a connection between what they're doing in the perversion of our democracy and teen depression Tobacco executives never made the connection between tobacco cancer because when it's raining money your vision gets blurred Right now I will never make the connection between the sale of assault weapons and the murder of children and the YouTube CEO will never make the connection Between unfettered content and the radicalization of young people They will never make the idea that you should be it's really prevalent there in Silicon Valley that open platforms of the way The words they use open platforms.
We don't want to edit people you don't want me in charge of this and some days I'm like, I don't particularly want you in charge, but I do want someone in charge like, you know It's come out of our secretary's mouth so many times and I literally like no, you know you definitely should go But but other people yes, you may leave the room and take your billions and give it away to people that need it that kind of stuff But it's meant to stop discussion about it is what it is and then when you go at them They're like how could you as a journalist favor this? I said I favor not giving neo-Nazis massive mainstream platforms I just do I'm gonna go with that one I think it's a good thing and at the same time they should be able to put websites They should be able to do all kinds of things but not to when they become threatening and dangerous and any other questions What is dangerous and that's the that's the issue. So what would you do if you were her? It's too late, so let's be honest She's doing her job her job is to make a shit ton of earnings for her shareholders We think at these conferences that we're gonna call on their better angels And we're gonna outline the problems and then we're gonna shame them and they're gonna show up and they're gonna reduce their earnings In order to be a better organization.
Well, don't hold your breath folks That is not their job their job is to go earnings a for-profit organization is the powerful engine of a capitalist society We have decided that is a gangster move around building most productive economy in the world But if you don't have referees on the field Tom Brady who is a lovely man Will always make incremental decisions to cheat if you allow him because the rewards for cheating are so great You will make those incremental rationalizations in your mind and not take responsibility for the massive destruction and damage that She'll Sam Bird and Mark Zuckerberg do every day to the world They will make incremental decisions and rationalizations such as one can be worth 65 billion and the other can be worth billion because we're That kind of money. They'll go into an echo chamber and a lot of people will tell you that you're awesome It's the government's responsibility to put referees on the field and it's like this ball is deflated So who's really fucked up here all of us? We have not elected to people who have the backbone and the sack to regulate these companies like we have regulated oil companies Yeah, and this is the argument we have going. Okay.
Go. Go. Here you go This is this is the bullshit argument we have we make this binary decision because we're all we're all busy and we all digress It was zero and binary way of processing data because it's the fastest way to try and solve big problems We try to decide his big tech good or bad on a net basis for the world and the problem is the world net because usually we end up with On the whole they're good. So don't do anything right pesticides are a net good for the world But we have an FDA Fossil fuels are a net good for the world, but we have an emission standards So let's acknowledge big tech isn't that good for the world But we need something resembling some sort of saying regulation from our elected leaders And they have literally lost the script and then asleep at the switch.
They have they've just woken up agreed with all this No, nothing she can do all right. So one of the things we talked about here is spinning off spinning off That was Andy jet. We talked about there. Yeah, what would you do if you were Susan?
You know better than I would spin it off I would spin it off and then do exactly that then you you're in a competitive position And there's an advantage to being blank and as a disadvantage to being blank So I think that's and removed from Google I remember when I wrote about that cuz Yahoo almost bought and Terry Semol who is a CEO of your time They were off by a very small amount of money and he was worried about the copyright issues the time having been a Hollywood executive a major Holiday executive he was worried about the copyright issues at that time That was the big issue between YouTube and that was a big business challenge. It wasn't neo-Nazis It was copyright and so I think they they didn't go into Yahoo and then Google bought it and Google had Google video at the time That's what people don't realize there was a second of the company It was a competitive it was a competitive situation But when they bought YouTube I remember talking to Sergey Brin about it And he said we had to buy it it was existential for us to own video on the internet to we had to have it no matter The price and so that was a really interesting moment I remember him saying that to me no matter what it was directionally We had to have that and the same thing with advertising that they bought their advertising technology And so I think there is they think spinning off is exactly right and so one of the things we talk about we asked spinning off to Susan She was like like that. I'm not thinking about that when we asked it to Andy Jassy I don't want to talk to analysts I don't want to spin off AWS and we Facebook not a good idea to spin off Instagram or WhatsApp or whatever And so they just don't want to be CEOs either They don't want to be CEOs or they think it's a bad idea and then there's their counter argument is the bigger We are the better and then hence China like because of China and so that's that's where they go I think spinning off is exactly yeah It's to say you're in favor of a spin-off. Yeah is is like saying in front of the king I want to be king right means the next day you're executed right yeah So let's be clear every senior executive at every tech company wakes up in the morning and looks in the mirror and says hello Mrs.
CEO These are not modest humble people yeah, and the reality is Susan does better in the spin Yeah, because this is this is who wins the economy in a spin the economy wins shareholders when we'll come back to that Yeah, the market's when it's a competition. They're easier to regulate There's more job growth more VC back companies the only people that lose and spins are the CEO of the seven realms Because then they just become the CEO of Westeros, and they can't justify I know you get the game of thrones It's over Scott. It is over. It's over.
It's over. It's never over. It's over. You need to move on to something They're not doing a prequel prince of doing gigs.
There's coming back. No, he's not how hot is that guy? He's dead. How hot is that guy?
He's dead kills people that is because everybody you're good looking up doing you I'm killing you That guy's coming back. I know how do we get here he doesn't have a head everybody wins in a spin except the currency Oh, and guess what who's in charge and guess what the board's not because of two-class shareholder companies Yesterday your brief sojourn into lesbian fantasy with Mackenzie Bezos and Charles Samberg. No, it couldn't It could happen. It could not happen.
I'm speaking from experience. It could not happen But you did talk about firing CEOs to You talk about firing them if you did this you would get fired and nobody gets fired Well, it's here's the thing and this is I get pushed back on this There's a perverse dynamic in big tech and this is true in corporate America And that is because there's only 23 female CEOs of the S&P 500 Because women have to navigate this hunger games like environment in big tech to get to the C-suite once they're there They become a protected class Marissa Mayer should have been fired well earlier before the company was acquired. Cheryl Samberg I can't tell you how many boards I've been on that have fired people for a fraction of the negligence the gross negligence She has demonstrated. Well, what about Mark?
Come on. Oh, hold on. Mark should be removed But let me just back up. I'll do that.
I'm gonna talk about women attack and I want to come back All right, so this is the bottom line. We need a lot more female CEOs so we don't have this existential crisis firing them and When it comes to mark this the answer is simple I was I'm on the board of a company in about eight months ago to controlling share shareholder a hedge fund who put us on the board There were some tense decisions to be made called and said just here to remind you that we can remove all of you at any point And we really want X to happen and we as a board had the right response and that is we get it We're big boys and girls, but until that point we're gonna do exactly what we think is the right thing is You share his role shareholders Right in my view is impossible for the board of Facebook who my view should be shamed and their names should be more well Not to get together at 459 during executive session at the end of the next board meeting and say this has gotten away from him Good guys time to move on. He's a big shareholder the DNA of the company is important founders are important to companies I'm a founder so I'm biased towards them. We're gonna kick him to chairman We're gonna bring in someone that the markets like it's just fine.
It's just fine. That's not a crime I've been putting Brad Smith saying and then they issue a press release saying we have removed Mark Zuckerberg as CEO and asked him to be chairman And then he has to go. Okay, we're moving from the serial Thank you and then the next morning he has to decide if he goes full search saying fires the entire board and I don't think he will I think it's full Danny, but go ahead. Well Danny.
Yeah, I don't think he will I think he does the math and goes I'm probably gonna invite all kinds of regulation controversy I don't think he's gonna burn the village to save it So let's be clear the board falls back in this notion that they can't do anything Oh, they can do something every day they deny their fiduciary responsibility not only to shareholders and they're being credible shareholders again They can I bring you back to reality sure that board is not gonna do it fair enough Why do you say that Mark Andreessen Peter to help no hundred percent now and the ones that were more difficult I would say read Hastings or symbols they left. Okay. Here's the thing Kenshin all very decently high principal man He raises his hand at 459. This is my view leadership and he says I can give you a million reasons why we need to fire this guy right now We can make it honorable.
We can say it's his idea most firings are that you make it their idea And you say what's the narrative and then can go all right if all of you are this batshit crazy and refuse to be good fiduciaries for the commonwealth For the health of teens fine I'm not gonna be a party to it And I'm going on record with the New York Times tonight at 5 a 1 p.m Saying that it was time to fire him and I resigned when the board refused and start shaming these people No one's gonna remember Ken for the money He makes on Facebook board being complicit and what is the most damaging organization in the modern economy Someone is gonna remember someone on that board who raises their hand and says you know what I'm willing to stab the prince And if I if I get who's grandkids are gonna be ashamed of ma or grandma or granddad because they decided it is time for Mark Zuckerberg to move on I don't know who's gonna be a shame Grandma was a badass and saw danger and went out on a limb and tried to move this guy away from the most dangerous This is the most dangerous person in the world right now Trump has gone in 18 months Maybe 56 months Putin biology will set it in six to ten years and take care of him This is an individual who is trying to encrypt the backbone of the communications network of a population greater than the southern hemisphere plus India Somebody needs to step up and remove this guy's CEO. All right. That's how they create their legacy That would be the ultimate gangster move for our economy Facebook board. There is a leader amongst you show it No, one's gonna remember you for showing up every three months for free dinner and making money.
Okay. All right Scott. All right Let's see what we can do. We should be on the board I was just asking on the board of a big company.
Yeah, you can't say what it is But none of a lot of boxes right now. I do check a lot of boxes I don't think they should let me into any board, but nonetheless, it's interesting because there's a whole debate of whether journalists should be on board On the other hand if you want boards to change why not have difficult and obstructors people on them anyway So it's a big debate. You know who did well yesterday about what they do sells? But I feel good so 60% of world leaders get the New York Times every day in some format Yeah, including in you know different places you think would think not be the New York Times literally kind of indicates says to the free world And the non-free world.
This is what's important. Yeah, it was great. I've spent a lot of time I like to monitor him and then okay, so he's in charge of what the world kind of sets the agenda And then you have Susan and some other people from Facebook saying we're in charge of what billions of people see I was much more comfortable With him. Yeah, I was much more comfortable thinking This is a thoughtful guy taking responsibility and really understands his legacy He says that he occupies by the way family run businesses.
I'm on the board of much of them There's this cartoon that's jerks running around going but dad said this rising to the CEO position at family run company It's actually really really difficult. He's not see his publisher There's a British guy Mark Thompson. Don't get yourself. I don't I don't know he Arthur had Janet's you all the hard decisions that he was the CEO he gets to call the shots.
Yeah. Yeah, there's a guy does all his work Yeah, okay, all right, okay, all right. We're gonna move on. We gotta do wins and fails I'm a said Herndon and this is America actually we're all talking to each other to see what do we do wrong?
What do you not see? I'm in Washington DC this week to interview Ruben guy ago He's a Democratic senator from Arizona and he's been thinking openly about running for higher office But he's recently run into some hot water because of his connection to Congress monarchs wall Well, I have to learn from this and I will learn from this but you know for me. It's not a 2028 question It's about what it means that to be a better first boss in my office and also a better senator to my constituents this week on America Actually, we ask I go about predatory behavior in Washington his plans for immigration reform and more This week on net worth and chill I'm breaking down the institution everyone's talking about right now But nobody actually understands the federal reserve with all the drama happening between Trump and Fed Chair Jerome Powell You're probably seeing headlines and wondering what any of this has to do with your money spoiler alert It's everything I'll explain what the Fed actually is why it exists and how this one institution controls the interest rates on your mortgage credit cards student loans and more We're diving into why raising or cutting rates isn't just boring policy talk It's the difference between affording a house or watching prices spiral out of control plus I'm breaking down the current controversy over firing Fed board members and why both Republicans and Democrats are freaking out about it because this fight isn't just political theater It could mean real chaos for your wallet. Listen wherever you get your podcasts or watch on youtube.com slash you are rich BFF You go first When gosh, that's a good question win this week.
I want to fail. I'll do a fail uber situation You guys while you were here uber lost at COO and CMO which I think is a big deal Marnie Hanford and Who came on the CMO is less interesting they put it all under Joel Hazlebaker who used to be at Google Thank you lots of places Jill is really interesting She was briefly at snapchat on my advice and she left in this now at uber She's very highly competent But the CEO was somewhat controversial within within the company and they decided that more people need to report to Dara Yeah, I texted Dara last night like what the fuck's going on. He did not reply But and I'd like to get in public later talking about it But it seems to me they seem to be closer to the people so I think I feel it might be a fail or an adjustment So close after what is someone of a disastrous IPO effort not some people say it's early on in the game But it was it was interesting so this is really unusual because and it's a very negative for looking into kid But not all is not well because typically you set everything going into an IPO You make sure your management team set and make sure your earnings are booked and the idea that they're having this sort of turnover right now Is really difficult. I was I met with a CTO for this year last night So for 210,000 employees average wage is about 28 bucks an hour health care I would imagine for 90% of those people so imagine 200,000 people there's probably I don't know 30 or 40 babies every week born into health Insurance born into a middle-class wage uber uber 22,000 employees splitting the value of double afford 22,000 oh, but wait 4.1 million driver partners You don't have health insurance don't have minimum wage protection and make on average $9.25 Cheryl Samberg was the ultimate lipstick on cancer for the last few years It's now dark our society who is the head of a shameful organization We have legitimized the notion that it's okay in the United States to move towards an economy with 3 million lords being served by 350 million Serfs that was not the uber IPO.
That was the Lord's take revenge on the serfs IPO It's an outrage that we let this shit continue. All right, then you want a socialist. No, I'm kidding I agree with you I agree with you. I agree with you.
I agree with you. You're a social guy I didn't go on with that guy go by I go on Fox once a week as I like to go behind enemy lines Yeah, okay, and by the way a lot of it is a script a lot of it is bullshit They're actually fairly nice smart people right and they get talking points every day. Oh my god I don't even start with their very nice people's now behind the scenes. That's bullshit.
I'm sorry That's so just don't like Tucker because it's not no we invited Tucker Carlson and he said he was coming and then he said he wasn't But I'm good Tucker and I are gonna go out it together. It's gonna be great. It's gonna be fantastic We're gonna compare our elite private schools of which he paid more for his He called me an elite and I'm like you went to a school that was four times more expensive than we're not bothered by this It bothers me To find I'm just saying here we go in any case. He also called me no talent But really I'm like okay, I'm gonna be a jerk, but I'm not no talent.
Okay I'm gonna be accurate about my negative Yes, it bothers me anyway your wins and fails because we got to get to predictions Okay, so my win is I've been thinking a lot about John McCain. I talked about this yesterday on Arizona Yeah, I think he's a tremendous role model the guy you know enlisted in the Navy flew thunderbolts over Vietnam Was supposed to be very good pilot by the way. Everyone has their faults Yeah, and was shot down and you know refused offers if he Was from a famous family military family from a famous military family went on Imagine that low points in his life and decided that he was gonna fight for the dignity of humanity It was always full stop. There is no such thing as an enhanced interrogation technique.
This is torture stop it full stop Can you imagine any of our I don't want to get into names but imagine our current leadership adopting a child That's what the McCain's did. I mean this this guy real honor and role model represents Arizona very well, okay All right your fail my fail is the myths that big tech continues to propagate at conferences like this around They're moving to a nationalist argument around don't break us up But the Chinese with their weaponized AI weaponized companies Are gonna come for us and there's no evidence that 11 smaller more nimble companies We'd be just as good and also the China threat is totally overrated the Chinese are fantastic at supply chain innovation intellectual property theft They're not good at building global brands There's probably not a single Chinese brand in your life right now. They're terrible at going abroad Chinese brands don't travel Do not be what I agree with you the notion that I'm not trying to pile on Susan But when you asked her about breaking up or Peter did excuse me she said well You just got to be careful. There's a lot of unintended consequences to break up.
Oh my god Facebook and Google are the land of unintended consequences not antitrust antitrust is probably the most predictable government action in history try and think try and think of an antitrust action that didn't work It's like one of the few things we screw up wars We have bad taxes the government screws up all the time. They mostly get it right They don't get enough credit for mostly getting right any trust. They're batting a thousand every time they break up companies We look back up. Yeah, that was the right thing to do So the notion that they're making the nationalist argument There's oh and the other one I like is we're the only ones with the scale to fix the problems that we create it Yeah, it's the scale that's getting them into all the trouble.
Yeah, they can't manage it So enough already. Yeah, just stop it. All right. Just stop it.
Okay. So now we're gonna be predictions now Scott I like your anger. It's very controlled though. You didn't jump over anything.
It's nice. Okay We're gonna do something a little different today's been Arizona and June. It's hot. Yeah, welcome Okay, we're gonna do something a little different for today's prediction segment We're playing some our past predictions and talking about what changed since we made them got to do this fast We've got a very short amount of time.
Let's start with something we discussed back in February Whether it be this me the year the big tech gets regulated. This is from February 15th. Let's play the clip What was your message to these Congress people? Well, you know my message my message is that these organizations have become invasive species They are they are Sith Lords who started up and I and then turn to the dark side of the force and unless we arm We arm you our representatives with inside and data in the backbone and wherewithal to break up what have become invasive species that we're gonna continue to kill Innovation our country our tax base is gonna row the middle class is gonna continue to experience flat wages that The government is here to serve the the governed not the governors and these companies have become the governors So the Sith Lords the Sith Lord does leave me.
I just had Shoshana Zuboff on talking about this He shows a book called surveillance capitalism where she has exactly the same messages the the hijacking of everything by these companies And and for more dire even more dire predictions from her in terms of what's gonna happen. Do they hear you do they because you know I've been banging this around for a while, too So do they hear hear your messaging? They hear you they agree they nod their head and they are totally but fuddled as to what to do about it All right in this show we thought probably not they get regulated. What do you think now very quick?
No, yes, it's happening Yes, just today do jay make and done with him I also do a podcast with laying out the arguments for anti-trust a lot of regulators a lot of things they've been Suppling it's a saying the consumer harm is not the only let me stop going back. All right. We'll change that. Yes.
Yes, okay Clip two which is gonna be trouble for my career, right? I'm like basically MSNBC of the Democrat gets elected. All right, okay Okay, all right, you can become a you can go to Fox. Okay, I was on stage listening to ourselves on radio This is like narcissism gone crazy.
Yeah. Yeah, I like it. Okay. Next one Snap has the same two-clasher holder system You have a young man who's already a billionaire and if it wasn't a two-clasher holder company I think they probably was sold by now and this is a problem with two-clasher holder stocks is right now He doesn't really need to be a fiduciary brother shareholders.
He's off to the races He thinks he has a viewpoint or vision which he has been totally unable to articulate what it is exactly they're gonna do here You know the redesign didn't work. They're getting well. He had a very good vision initially, right? It's a really fresh vision.
Everyone's so like oh sure. It's a great company. I have to say of a lot of the people I talk to I really enjoy talking to him because I always have a really he's a Visionary is a good word. He actually you're always like oh, I didn't thought of it that way, but you're right It's the execution a visionary vision in only case so far But the CFO leaving it kind of punctures another prediction We had a few months ago or I thought that Amazon was a likely acquire because the CFO was a 20 year veteran of Amazon Yeah, and the fact that someone who was at Amazon for 20 years You could hardly describe this person as a flake or someone who just kind of goes off half-cock leaves snap after six months Yeah is a very negative for looking indicator.
I got it wrong I thought Twitter was gonna be below 10 bucks a share right now snap and snap which I believe that Mark Zuckerberg was more Honest to call Instagram story snap. I thought snap is going away and they both held the earnings They've both held all right clip three and then we're gonna bring up their predictions from the audience next clip Let's revisit our lift prediction. How's that going? How's that not not good?
I think we nailed the prediction on lift so Let's talk a little bit about uber. They keep coming. They keep lowering the price range It's now down to 90 building I think I'm not sure and it's much more fun to talk about dramatic predictions But I've decided my prediction around uber in terms of stock is gonna be met I think this thing is being perfectly manicured and measured to a small pop and that's about it And I think it'll hold steady So we mostly got that right, but be clear ride hailing is gonna shed more value than the majority of the S&P 500 companies Lift makes absolutely no sense It's it's in a terrible business and it has no other businesses and it's burning cash right hailing is a terrible business uber has assets Uber is a global brand that globally affluent typically the first and last brand They see when they're on the road is uber and it's shown a flywheel effect It's spun out uber eats which is a great business So uber could execute perfectly and take advantage of all their great assets and be worth half what it's worth right now The valuation make no fixing the lords and third serves probably there you go The which I won't do but we don't seem to be that that that Jones up to fix it lift could literally go away Lift is there's no justification for lifts business. It's the number two without the global brand without the flywheel effect is a terrible business All right Do you have any predictions from the audience don't know if we do any predictions Did they send them forward all right one more predictions got gallery and then we'll get out of the way for the other podcast?
I just got the prediction yesterday the markets got it wrong when they announced the FTC and DOJ said okay You take Amazon and Facebook will take Google and or we'll take alphabet and Apple and the markets hammer these companies They got it wrong these companies are gonna skyrocket in value over the next six months because analysts are gonna start recognizing that these companies What's app is going to be an incredible company is an independent company. Thank you This is a stock call I think if you were to buy all four of those stocks I think they're up between 10 and 20 percent of the next six months as the markets start to realize that spins are gonna be amazing for shareholders Okay, we have this a little time. I gotta do instant predictions with Scott Galloway, Miss Cleo of my life. All right, you know that It's okay.
Don't worry about it. It's perfect. Okay prediction on when Zuck will get removed as CEO You should make short answers here. I think it's within I'm always early I think it's within 12 months I think it'll be within 12 months We have come to accept and this is a general part unfortunate problem in our society that we just have to accept it that The world is what it is.
No, it's not the world is what we make of it But pressure on the board to take a leadership stand. We can absolutely remove this guy All right, when will Trump get impeached or will he win in 2020? Scott Galloway, what do you think I get this wrong on terrible politics? No idea.
No idea. I don't know either either I don't think they will be impeached I suppose he's not gonna bend I think she's she's making a political calculation and she's getting in the way she's taking the flag for it She knows she has to protect those those areas that are pro-Trump or they're concerned about other things besides the impeachment So she's going to just take all the black from her left and and not do it. She's a very savvy political calculator Yeah, whether it's the right thing or not. She wants to win back the yep, that's a win.
All right, will he win 2020? I don't know. I don't know either is Kevin's system John Snow back from the dead. That's good.
That's a good one That's good. He could come back and here's okay So here's a big problem with our economy right now and I say this is someone who sold companies when you sell a company You get a lot of money a lot of the economy and venture has largely been described as a conspiracy between the venture capitalists and the CEO founders And the CEO founders and I'm one of them do really well in acquisitions But in exchange for doing what really well financially we sign as does the senior management these very onerous non-competition and non-solicit agreements Yeah, a non-solicit agreement says that if you go do anything else or you leave you can't approach you can't hire anyone from the company Now, what does that do? It suppresses wages? So someone making a good living has one fewer employer to come out to them and offer them a job So it suppresses wages, too It's suppresses innovation because some of the most talented people in tech on Coom Kevin's system now cannot start a company because they sign these non-competes So when a company acquires a company the best thing that happens is that it becomes very successful The second best thing that happens is it isn't successful They close it down and they cauterize that branch and they don't they take a competitor off the marketplace Yeah, so all of a sudden what you have is the most productive innovative companies and people in the world are cauterized and in every industry This isn't true of big tech only.
It's a true across every industry the top two players used to control 20 to 30 percent of market share Now they control very ugly they gave all that money to an executive at Google who had sexual harassment issues because they didn't want him to be It can be used lots of boys in any case. Is he John? So he said he's gonna go and then come back and save the day Although frankly all the women say that is such an important question I want to give that some time all right all right next week We'll be back to answer whether Kevin's system is John Snow in the continuing nightmare that is my life talking about Game of Thrones Quick survey and I'll report back how many people are avengers how many people are avengers Vendors, that's like eight people. Okay.
How many people are Game of Thrones? Oh, that's right. That's how we roll Dragons for everyone you get it all right as usual a small insight into my life anyway Camila Salazar produced our show today Neshad Kerwa is pivots executive producer. Thanks also to Eric Johnson It's just the best it's fantastic.
Thanks for listening to pivot from box media We'll be back next week for another breakdown of all things tech and business Make sure you subscribe to the show on Apple podcast if you like this week's episode leaves our view ladies and gentlemen Scott Galloway