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That's ODOO.com. Hi everyone, this is Cibbit from the Box Media Podcast Network. I'm Kara Swisher, back in San Francisco. And this is Scott Galloway.
I'm in my kitchen in San Francisco, so here we are. Nice, nice. All right, what are we talking about this week? There's so much.
So much, I'm here to see a lot of moguls this week. I'm on my mogul fest this week, so I'll have a lot more next week when I'm talking to all of them, but I'm talking to pretty much all of them. But big stories this week, I think, I talked this morning to the BBC about the Netflix results, which were better than Wall Street expected, but a lot of worries in their stock went down because of a number of things, including possibly slowing subscribers. They're the competition from Disney, which is selling a new service that is pretty much half-price of the best, the most popular Netflix offering.
And then movement by Apple in the space. So just thoughts on the Disney streaming service. So this is really, first off, there's stocks very volatile because monopolies hate it when there might be another player. And Netflix kind of was becoming the first company other than Amazon that was achieving sort of this monopoly-like status where they had access to such incredibly cheap capital, where they were able basically to crush the competition because the marketplace seemed to have stopped evaluating them on the traditional metrics they applied to any other media firm.
They were now valuing them solely on subscriber growth. And now that they have a viable competitor, everyone's sort of freaking out about whether or not, what it means for Netflix, everyone's trying to figure it out. The Disney, Disney, Disney Plus, Hulu, and what's up there on ESPN Plus, is really fascinating. And it's- Right, taken a long time.
It's taken a long time. The Netflix has been catching the money and putting and sending it to Hollywood billions and billions and content deals that they've been doing with big names like, they've been snatching, it's not at rhymes, they're Ryan Murphy, all kinds of people. Yeah, and it's tough because they have to, and I think Bob Iger's one of the few people that could do this and Disney's one of the few companies that has a capital and a content library to be a viable competitor in Netflix. But what they really had to do, which is difficult, is start pulling stuff from Netflix which in the short term will hit their revenues.
And unfortunately, the majority of companies have investors that get very used to this thing called profits and damage you, or hit you pretty hard when your profits go down, which they likely will for Disney in the short run as it starts to pull its content from folks who are paying them, including Netflix. The interesting thing here, one of the interesting things here, is that what I think they should have done. What I think they should have done is offered one grand bargain package. And I'm gonna come back to that because I have a bit of a rant on it, but how are people responding?
What's the kind of the word on the street in terms of- Well, a couple things. One that has taken so long for these guys. I mean, Netflix has been doing this. Remember when Jeff Buke has called them, I think?
The Albanian Army. Yeah, right, they made fun of them. And then they started really spending money and pulling in talent, both them and Amazon, but Netflix to a greater degree. They have so many offerings, too.
They funded so many shows. And just recently, the Bloom has been a little off the road when they started canceling things, like one day at a time, which was super popular. They were being much more inclusive, much more diverse. So Hollywood was loving the money and everything else, including Disney, who was getting money from fees from getting these shows on the air, not the original shows.
But as Netflix started to do original shows, I think everyone was like, wow, look at them. They're not just like a data service, essentially, though they have plenty of data. So everyone was sort of in love with this idea, and I thought it was super interesting, and they were too expensive to buy. Like they're too, now too, Yahoo was looking at them at one point, certainly Amazon, whatever, there's all kinds of companies that could look at them.
And so, people are sort of like, is this gonna be it, finally, that Disney and Apple and others awaken, or will it be the same thing where Disney's tried things like coming into the internet and pretty much failed many years ago in a search kind of way? They were trying to do a Yahoo version of Yahoo. And then Apple is not known for content, it's known for devices. And it tried a few shows out that didn't work, but now they're grabbing Oprah and Steven Spielberg and again, not a young demo and there's some others.
So, you know, they're actually making some moves that are significant, I guess. So people are nervous for Netflix. Yeah, it's gonna be fascinating. The thing that, what I find most interesting about this is the pricing.
And that is, and this is where I think they messed up. And that is, rather than sort of this grand bargain, big singular offering, similar to what Netflix does, they've attempted to segment the marketplace. And that is, okay, there's sports people, ESPN plus, there's adults, that's gonna be adult content, that's gonna be Hulu. And then, you know, we watch future societies just open societies do terrible things to the Gilmore Girl.
And then there's a Disney Plus, which is gonna be kind of this great family offering. And if you look at sort of, I think Disney is one of the last of the Mohicans and that is a practice as traditional brand management. And then it says, okay, where are different pockets? We can segment with a more specific offering and take advantage of any excess income or pricing power there, rather than one just big singular offering.
And I think what you've seen, you saw from 1945 to 1995 in the introduction of Google, is that the company has added the most shareholder value where these multi-brand conglomerates are what we refer to in brand strategy as a house of brands. So P&G, Unilever, General Motors with Buick, Pontiac, Cadillac for your boss, right? And they segmented different marketplaces and they just printed money. And I would argue over the last 20 years, that the majority of the companies that have added extraordinary shareholder value aren't houses of brand, but branded houses, because consumer- Say that again, slowly please.
Sure, so the companies now that have added the most shareholder value of the last 20 years have not been houses of brands, but branded houses. So at Google, right, and Apple, where they basically put everything under kind of one brand. They've said, consumers are busy, we're gonna be the brand that means something amazing, innovation and search or innovation and tech hardware. And everything's gonna come under one umbrella.
And we might give up some revenue, maybe we could charge a little bit more for this, maybe we'd be more appealing with the sub-brand, but we're gonna practice safe sex, and we're not gonna propagate all these new brands, which ultimately ends up like General Motors, where they have to kill Pontiac and Hummer, because brands are just so expensive to kind of care and maintain for it. And I think this is where Disney may have messed up. And I do think it's gonna be hugely successful, but I thought the gangster move here for Eiger would have been to have one incredible offering, just call it Disney Flex. All of it, sports, kids, adult programming.
Oh, and by the way. The Disney Flix would have an X just to be an asshole, that kind of thing. Yeah, and then, actually that's not very Disney-esque. And then even stuff like, okay, there is the majority of America that goes to Disney Parks, but Disney prime members get to go on their own days when it's less crowded.
The best cabins on Disney cruises. They could have done so many interesting things, and basically made it such that no household in America couldn't pay the $29, $39, $49 a month if they have kids. I think that was the way to go, but instead I said, okay, let's try and figure out the nuance, let's manage a series of brands. And what they fail to realize is that the primary vehicle for creating that nuance and that differentiation between Pontiac, between Buick, between Tide, between gain detergent, was this incredibly powerful vehicle and cost-effective vehicle called broadcast television, or ad-supported television.
But the problem is nobody that has any disposable income now is watching ad-supported media, because they're all watching Netflix, so they're basically listening to podcasts like ours, or they're fast-forwarding through stuff. And I think Disney has kind of missed or missed the bow here. I think the opportunity was for a much bigger offering, and the reverting to this reflex muscle memory of traditional brand management, not recognizing the world exchange. I think that's interesting, has Bob listened to you on any of these things?
That wasn't much of a rant, usually your story. No, no, I think Bob I think that guy is incredible. And I think his wife, Willow Bay, Stern, by the way, is an incredibly impressive person. I think this guy, I'm really pulling for, I think by the way, I think it's gonna be an incredible offer.
They think about what they could do with this. And you wanna talk about price discrimination, how much would, I mean, the reality is, the sad reality is where you wanna go in business is you wanna go to the top 10 or even the top 1%, because those are the folks that are aggregating all the incremental disposable income, right? What do you think the million wealthiest households in America would pay for the next episode of Star Wars, seven days early in their house, streamed into their house? I don't know, we've talked about that before.
I talked about that years ago, the idea. They've never done it. They've got all kinds of issues, why they do it. But it's coming though, because it used to be the theater release was the primary source of income.
This year Netflix will do more revenue than the entire- No, I would like to get in-game right now. Right now, I want in-game right now. I watched the Infinity Stones the other night, and then I was like, I'd like in-game now, I'm ready for it. I understand everything.
I followed along, and it's in my head for the moment. I would've immediately liked to pay, and I would've paid 50 bucks for my kids to watch with me, which was just the one movie. What's interesting is that they, you know, Disney did lose, you know, Shonda Rhimes. That was a big star for them, right?
And she went over to Netflix, so that must have been like, I wonder why they didn't try to keep her with this kind of thing. It's gonna be fascinating, but Disney is really, it's so nice to see them do this, because there's very few people that are in a position to take on Netflix, and I think this is gonna result in more revenue being pushed into some of the great jobs at the entertainment industry supports. And I just think it's competition is gonna be great. It's good for the content creators.
It's definitely gonna be money everywhere, like all this money from Netflix, Apple, Amazon. You know, we should make a movie, I think, at this point, so that we can get some money and put it just like have a bidding war go on between all of them, what do you think? I'm in, but I thought we were cagging in Lacey. I thought we were- Oh, well, yeah, that's true.
We could do that, a new version. There we go, I mean- There's not that many. Like, what the hell is going on with Jack Dorsey, for example? He appeared yesterday at the Ted Conference, which was not the most difficult interview for him, as you might have mentioned, but he was- Is Ted is going on?
I didn't know about that. Ted is something? Ted, yeah, I know, Ted. Got it.
And what did he have to say? Anything interesting? Absolutely nothing. Like, I don't know, he was gonna be focused on topics of interest versus people.
I think that was the takeaway. I mean, it was very, it was quite a bit of a tongue bath for him, but it was most of the topics he's gonna focus. And that's how he's gonna fix the situation. I'm like, Donald Trump owns Twitter now, my friends.
So, and you made it. So how do you feel about that? That would be my first question. And then I'd be like, what's going on with that?
But I wouldn't ask that. When you see people being interviewed, do you want to rush this age and say, I would do such a better job interviewing, I suppose? Oh, my God. This is what I almost yelled the other day, I was in this interview.
I literally was almost, I almost stood up and yelled, ask the fucking question. Like, ask the question. Like, it was one of those round up hands questions. I was like, nah, nah, nah, nah.
Ask the fucking question. I was like, what's going on? Like, I had Jack Dorsey in the train. He's never gonna do it, he's gonna meet me on to crazy Twitter.
Is like, what is going on? Like, that would be my like, what is going on? All the people in the world want to know what the hell is going on. Like with, you know, anyway, I just thank you.
Yes, I do. I get very frustrated because I think reporters tend to like come things backwards. They don't want to be rude when they're physically in the same space as someone. And so they tend to come.
That doesn't bother you. That doesn't bother you. Yes, some people say it bothers me. Like crazy, I literally want to jump up.
And I tend to jump up and ask the question. And then they always go up when they see me at the microphone. Oh, I can stay that way. Don't UBO.
I'm not going to go to UBO. I'm not going to go to UBO. I will be, listen, Uber IPO. I'm going to see Dara, the CEO, the CEO.
And I'm seeing all the guys too. But so what do you think of this, the filings? So first off, I mean, the two words you're hearing more, you're hearing the same two words over and over in every lift, excuse me, in every IPO planning meeting at Uber. And those two words are fucking lift.
I mean, literally, it's like, imagine, you know, the opening ceremonies of every Olympics. I don't know when in 92, when Muhammad Ali with his Parkinson's in full bloom got up there and lit the Olympic flame, one of the great moments in sport history, a guy who had his metal strip for refusing to register for the draft when you had in Barcelona that incredible archer. Basically, they take the camera outside the stadium and they're like, where's the camera going? And then all of a sudden they zoom in on this incredibly ripped, gorgeous Spaniard and he picks up a bow and arrow and you're like, what the fuck is it going to do with that?
And then he reaches it into the sky, pulls the bow back and boom, shoots this inflamed arrow into the circle and they light the flame and it just sort of sets the tone for the entire Olympics. Well, the lift IPO is basically George Costanza like throwing up for the opening ceremonies. I'll tell them that. It is literally, it's contaminated the entire, all the unicorns, the unicorn class here.
They should have gotten together and said, whatever we do, we can't let lift go out first. Well, they had to go out first though. You think otherwise it gets washed. Yeah.
Let's revisit our prediction, our prediction, a hundred bucks opening day, we didn't get there, got to 90 bucks and we said it would be 50 bucks. And then six months and what's it close to that today? Is it in the high fifties or what's it? Anyways, but back to the Uber IPO.
Okay, so. Let me check my phone device on this. There you go. You have one of those?
Let me check my Motorola. So the Uber, you know, lift is no Uber and Uber is a much different company than Lyft. So you have. 58, there you go.
By the way, that will be, it's new all time low and looking forward, that'll be it's all time high. It'll never see that number again. Look out below. Right, but low is 55, right?
Yeah, that'll seem like the salad days in about 30, 60, 180 days. Anyways, the, by the way, I just noticed all these analysts. No, it's at it's low. No, it's at it's low.
The highest was, yeah. All these analysts are going out and saying, they don't understand the unicorn class and these terms like disruption. No one wants to talk about their numbers because this stocks going to 30 about the timeout. So at the motor and who's the God evaluation actually says, okay, this is, this company is not worth 30 bucks much less 20 bucks.
I want Uber, my friend. Uber, Uber, $11 billion, $11 billion, $2 billion in losses. This is a difficult business, right? Hailing is a, is a really shitty business.
But Uber has, Uber has some real assets, right? They might have this all kind of elusive so far flywheel effect in ride hailing. And that is they have so much trust of such an incredible brand, they do such an incredible job that they're able to launch adjacent businesses. And Uber Eats looks like it might be a really great business, right?
Yeah, because the others, grump up and the others are like shaking the door dash on. They're probably done. I just, Uber Eats, I'm just hearing it everywhere and it seems like they do a great job. It's growing really fast.
They're talking about getting the logistics, which would be interesting. They all threaten around the economics that what happens when autonomous comes. I think that's like Jeff Bezos talking about drones. I think it's a giant head fake.
I don't think it ever really, all right. So it's food delivery. That's the BSX, right? So right now, Raymond James just estimated the total takeout market in the U.S.
is from the Wall Street Journal reach $269 billion this year with online penetration rates rising from under 7% this year to 30%. Now I've talked to a lot of restaurant owners in my area. I went to pick up takeout the other day which apparently is like, you know, showing up with like a pool of buggy restaurants. But he was like, it's all Uber Eats and DoorDash.
DoorDash, they was definitely talking about DoorDash. He likes them like them better. But he definitely was like, look, it's even eating out or eating the business inside the restaurant business too. Because it's actually taken what's happened in New York which was all delivery everywhere.
Yeah, it was interesting. It was an interesting discussion as I waited for my piece of evening. And it was reported that it was reported that Dara, they offered Dara a hundred million dollars if he can maintain evaluation of $120 billion for 90 days. And I would argue if he can do that, he deserves a billion dollars.
What's he gonna do? Well, that's the thing. These guys have to convince their investors enter into a consensual hallucination with them that Uber is worth more than get this at $120 billion. American Airlines, Ford Motors, Matt's in shipping and let's throw in JetBlue.
And we still don't have the value of what they've asked Dara to convince the marketplace, Uber's worth. So Lyft, shitty business, Uber, at these current valuations that they're discussing is an overvalued business, but it's still a juggernaut. I mean. So it's 11 billion in revenue.
11 billion in revenue. And I hate to fall back on this term because it's same orifice and reflex memory when people are trying to find reasons to justify an irrational valuation. But the Uber brand is probably one of the most important brands in the global, wealthier affluent class globally or soaking up again all the disposable income because it's probably the first and the last brand you interact with when you're on the road. So it's literally the first and last company I interact with when I'm in any foreign city and they do a great job.
So the opportunities for them to get into adjacent businesses, the fact that they're going to have all this data on the global wealthy, about commerce, about your traffic. It starts serving you ads. Hey, you're early at the airport. Here's a $10 certificate or something at the duty free here at Heathrow.
They're just going to, there's a lot of places that Uber could go. And the fact that they've been able to execute against that with Uber Eats shows that this is a management team that knows how to take advantage of this shitty but enormous business that's established unbelievable consumer trust, unbelievable brand equity. Well, there's issues around here. I mean, you're being like, pretending things don't exist.
They've got issues around drivers. I get dozens and dozens of driver stuff and that talk to them a lot. It's just, it's on the backs of people. Other people's work, essentially.
And then meanwhile, not just them, but Google here, which owned 5% of Uber for a long time, which I think they invested 250 million. And that quietly, well, the crap was going down. What's going down? They're going to make $5 billion.
They're going to make, Google itself is going to do really well in this thing. It's all the same people that own these companies. Yes. Well, yeah, but I mean, Google particularly, which is really interesting.
And they also get a lot of money from maps and things like that and pay Google pay and stuff like that. So it is an interesting situation of who's going to benefit here, but it's definitely not the drivers. I mean, let's be honest, they're just getting screwed, essentially. And in this case, the investors will, especially taking this big flyer.
You're talking about making everyone just believe. Dar will be paid a lot of money for this if he gets them to believe and does jazz hands. Jazz hands, I love that. That's what they should call this entire unicorn class IPO strategy, jazz hands.
That's awesome. Jazz hands. That's our movie, jazz hands. Oh, jazz hands.
That Bob Fosse movie, I'm going to go see it. All right, we're going to take a quick break. When we get back, we're going to do wins and fails and predictions with Spark Valley and I on pivot. Support for the show comes from Odo.
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Try Odo for free at Odo.com. That's O-D-O-O.com. All right, back to our show. I'm here with Scott Galloway.
He is in New York. I am in San Francisco. We were talking about jazz hands, which is, by the way, I want to see that Bob Fosse movie that they made apparently. He was a very nice man.
Did you see all that jazz with Roy Shider? Yes, but this is a new one with Sam Rockwell and what's her name? The actress, she's great. Michelle Adams, Jessica Lang played that role in the 80s.
I love Jessica Lang. Oh, my gosh. Great actress. Do you watch her and all those Ryan Murphy things?
By the way, he's working for Netflix now. Do you watch the horror, whatever it is? I don't. I'm basically watching one thing right now.
I'm not interested in my kids. Winter has come, Cara. That's it. I was part of an intervention on a guy who was addicted to heroin, and he basically listened to everybody and said, I love everyone here.
I have a great life. I choose heroin, and he walked out of the room. Well, you know what? I choose winter.
I choose. I am putting everything in my life aside. I'm going to rewatch every episode before that. I can't stop thinking about it.
I have some information. Both my children are hooked on it. Hooked on it. I can't believe I'm watching it.
I'm not sure. Wait, quick trivia question. But both of them are hooked on it. And Elon Musk loves it.
I'm just saying everybody's watching it. I did not watch it. I do not care about him. Jealousy, you have so much amazing going ahead of you.
OK, so quick trivia question back to big tech. Is Jeff Bezos, Jon Snow? Hold on. Is he Jon Snow?
Is he Cersei? Is he the Night King? Or is he the Prince of Dorne? Which one is Jeff Bezos?
Don't say Prince of Dorne. He got his head crushed. That's when I stopped watching that show. Let me, I was like, no.
That was a handsome man he crushed his head, and I was not expecting him. I'm not disgusted. All right, so I would say the Night King, not the Night King. The Night King, yeah.
That's very good. I said Cersei, but he's the Night King, because he's coming for all the living. Cersei. That's Cersei.
He's the Night King, yeah. He's the Night King. I thought that was really clever. I like the Night King.
I think the Night King is understood. It's amazing. Anyway, wins and fails. Win, win, win, win.
Facebook nominated its first African-American woman to be on the board, Piggy Alford. She's a big executive at PayPal, and quite an impressive person. She left to do a little work at the Chan Zuckerberg Foundation. This was a great thing, because there's only six black women who are senior management executives in the US, which is 1% of that management layer.
And it pays for hardly any women of color at the company. It's really a small amount of its enormous US workforce. But that said, two people left Reed Hastings and Erskine Bowles. I think he reached an age out, and Reed did not.
I think those are the two big critics of Mark Zuckerberg on that board. So I'm hoping Piggy Alford puts them through his paces. But I don't know if she's so linked to them. I doubt that's going to be happening.
Anybody who gets on a board like Facebook is so grateful and excited to be there. They're not going to show up and start kicking ass and taking names. And again, I think it's great for the reasons you mentioned that she's on the board. But I feel like it's another illusionist trick.
At the end of the day, Erskine Bowles and Reed Hastings, I think sort of the last vestiges of anything resembling a conscience has left the board. And so it's, it's, yeah, I heard they were the ones that were really drumming it into Mark in terms of problems. Yeah, well, Kenshin Al's on the board. He's a very principled, high character person.
Hopefully he's in there. But at the end of the day, there's only one thing the board can do in a two-class shareholder company. And the only thing they can do is all hold hands. I'll sit around the fire, hold hands, and agree.
And so send him a letter publicly saying, you need to resign your CEO. Never, I agree, but otherwise they're not a board. They're an advisory board. I've served on two-class shareholder companies.
We kind of show up and suggest and hope and beg the CEO does stuff, but you don't really have any power. You don't stop your feet. There you go. Why don't you stamp your feet?
What do you want to be on that board? What is that, $25,000 a year? Whatever the hell those people are. The boards fail on the board.
I'm not sure. I know that 100. I've been asking you. I've been asking you.
I've been asking you the one I was at. I told you, the one I was at. They called me if I wanted to be interested was the one I was talking about. And why didn't you go on the board?
Because I don't want you to talk about. Why would I go on the board if I think it's awful? Like, come on. They wanted a digitally oriented person.
It's a waste of my time. And I don't want to be on that particular board. And I think I'd be just difficult. I'm just recently asked to be on a board of a media organization that I like a lot.
So I may advise or come think, I don't mind those things. I just rant. But I'd be a terrible board member. I'd be terrible.
I would sneak around and find out what was actually going on. And then I'd do a big reveal on the board meeting. You'd be the journalist? So you say.
Actually, I'm a journalist on the board. Yeah, that's probably not who you want. I'd love to be on the Facebook board. If he asks me, I would say yes.
I don't care about com. Yes, ma'am. That's what I was. I was in security in the boardroom.
So my win. Umar Jolieta, CEO of Best Buy, is stepping down. He took over as CEO of Best Buy in 2012. And what do you think the prospects were for Best Buy in 2012?
Shitty. Shitty down. Shitty Avenue. Literally, except worse than that.
And he. Yeah. And the stock was at 20. The stock is up 300% since then.
And it's really a great example of corporate leadership. And he invested. He said, we're not going to worry about short term problems to make long term investments. So the first thing he did was he said, we're going to match every price.
And you couldn't walk into a Best Buy without a smart phone, without a blue shirt running up to you and saying, we'll match that price. So they immediately got rid of this whole show roaming phenomena, which was supposed to be kind of the Night King to retail, where everyone was going into retail establishments and then going home and buying it on Amazon. He immediately gutted that by saying, we will match any price you can pull up on your phone. And speaking of blue shirts, well, everyone was investing in artificial intelligence.
He did the gangster move and he said, well, everyone was acting invested in organic intelligence and charted a career path for people, assistant managers and managers. And when you go into a Best Buy, the mood, the optimism, the expertise, the domain knowledge of blue shirts is really outstanding. And it gives you a reason to go into stores, because people no longer go into stores for products. They go in for people.
Best Buyers. Yes, I agree. Oh, Best Buyers. It's wonderful.
It's a really fun experience. They were the first or one of the first other than Home Depot and Walmart, maybe, to look at their stores, not as liabilities, but as assets, and created an infrastructure where they turn these 550 Best Buy stores. I actually think they got the wrong. There's more than that.
They turned all their stores into flexible warehouses. And if you live in Delray Beach and order a flat screen TV from Best Buy, you get it faster than you ordered from Amazon, because they fulfill it out of the Boca Raton Best Buy Store. But this guy has really, I mean, he has stared down. There's a great white shark off the shore, and he jumped into the water and punched that shark in the nose.
And in addition, his... Punch it. Punch it. I'm going to be getting a shark.
What? A shark. A shark. One is usually underrated actor.
Anyways... I get it. I get it. I get that's what you're supposed to do, but you should not get it.
The bottom line is just the water. But there's no... Exactly. It's my policy.
Going back to his successor. A woman named... I think I'm going to go around... I hope I'm going to go around.
Corey Berry, I think her name is. And she's about to become not only one of the 4% of the 23 CEOs of the S&P 500, there's only 4% female CEOs in the S&P 500. She's going to be the youngest CEO in the S&P. So kudos to the board.
There you go. She's got to be incredibly impressive. She's the CFO there. But kudos to Best Buy.
Great company. Fantastic CEO. When they cut onions, onions cry. They were not afraid of Amazon.
They took them on. Full force. And they won the youngest CEO of S&P 500 now. Another female.
There's a lot of interesting dynamic female CEOs recently. How many folks at the Hudson Bay? A lot of them are in commerce. They're going to a lot of them.
So anyways, my winner is Hubert Jolie and Best Buy. Great company. Great CEO. All right.
All right. Fail. Fail. I'm going to go with YouTube.
The burning of Notre Dame, by the way, sat face. But the links that they put in the info about it were about 911 attacks under the Notre Dame fire videos. It's the same more. What happened?
I heard about it. I don't understand what happened. Oh, Miss. Just was first of all, misinformation about Notre Dame spread very quickly on social media, but like whatever.
That happens every day of the week and twice on Sunday. But, you know, they flagged videos. They mistakenly used 911 conspiracy. You know, whatever.
They said they made their tool for battling misinformation, married what they called the wrong call. And so they linked it to 911. And then they said in a statement, we were deeply saddened by the ongoing fire that Notre Dame got done with the drill. These panels are triggered algorithmically.
And our systems sometimes make the wrong call. We were disabling these panels to our live streams related to the fire. So I got to do this on everything. Like, oops.
Like that kind of thing. So what is the question I have? I'm asking this to learn not to answer, but I was not something where I was really hit. When I saw it, when I saw on my Amazon show that Notre Dame is on fire, it actually emotionally kind of shook me.
And I'm trying to figure out why, and the response has been, there's been this overwhelmingly positive, empathetic, wonderful response globally on this. And I'm trying to figure out what is it about the Notre Dame that has evoked so much about nobody, my understanding is nobody was hurt, is that right? Well, one firefighter and two police officers were injured, but incredibly no one was killed. Look, everybody either wants to go to Paris or did as a college student.
You know what I mean? And that is what you think of the Eiffel Tower, which is more about modern France, right, in the modernist square. And you think about Notre Dame? It's right in the middle of the city.
It's on the left and right bank, right? And so I think everyone has either a hope or dream or has a memory of going there, right? One or the other. And so, you know, it's beautiful.
It's lasted for so long. It just doesn't. It just changes and it doesn't change. It's a scene for so many iconic photographs with Paris and stuff.
I think everyone has a relationship with Paris in some way, right? Everybody in the world. It's like New York. Everyone has a relationship with New York City.
And so, you know, there are very few iconic things in this world. I would say the Golden Gate Bridge is one. You know, not the Twin Towers, but the Eiffel Tower. It was terrible to have the Twin Towers.
But I think more the Empire State Building in New York or the Chrysler Building in London, probably Parliament, I guess, you know what I mean? Or maybe the Buckingham Palace, you know, all over the world, the Taj Mahal, the Great Wall. You could circle the world and pick 10 to 12 things that everybody thinks about, right? So that's to me what's going on, like, that you have the relationship with these iconic.
I like you more right now than I've ever liked you. That was gangster. That was almost poetic. Wait, hold on.
The Notre Dame is all of our hopes and dreams. I'm going to donate the first $10,000 to have that inscribed somewhere on the Notre Dame. That was poetic. They're not going to have inscriptions.
They're not the French or classy people. They're not going to have, like, here. You don't like the arch in St. Louis?
Why can't it? Staples Stadium and LA, come on. Good God. We have some masterpieces.
Yeah. So, my loser. So, look, I think the unicorn class... God, I sound just...
The mind just sucks compared to yours. The unicorn class, I think, is a big loser this year. For all the excitement and all the analysts who will come on and talk about disruption and use word-like network effects, I think that... And this is a prediction.
I think when we look at 2019 in retrospect, all of the unicorns that have gone public will have lost more market cap than they've gained. I think that their IPO prices combined, their market cap combined, will be great on the day of their IPOs and will be 12 months on. I think the unicorn class is going to lose in 19. All right.
That's a good one. That's a great one. I hate that in mind. I'm using more amorphous words.
No, I love that. Yep. Yep. So, talk now to me about...
Yeah, well, that's a prediction. And it indicates a larger issue here, and that is, and hopefully, Representative Nadler's comments are adding to the strip-drip-drip that starts to become something real, but I think we have a small group of companies that have basically cut off the oxygen from almost everyone else, and even unicorns are having a tough time getting out. You know, I mean, you'd realize if Amazon or Facebook announced without any sort of press release talking about using the word pins or boards, they could basically screw the Pinterest IPO. Yes, of course.
Yeah. Yeah. But, you know, we haven't tried different things and hasn't been sick, just because they tried... lots of companies to say the things.
I don't know. I like them. Amazon now performs out on mind tricks and just basically start killing a company by just thinking relevant and putting out press releases. They could absolutely...
They could take more like a Facebook, but a Facebook announcement initiative with Instagram that involves some sort of pins or boards, I don't think Pinterest gets out. Yeah. Because they have had a record of failure when they do that. They've tried to do all kinds of copycats of a lot of things.
The only one that worked was Instagram, and that's because of Kevin's system, in my estimation. It's going to be interesting. It's going to be interesting. Interesting person.
We'll see where it goes. We'll see where it goes. So, my prediction is that code is going to be amazing. That's my prediction.
I just... We just announced Stacey Abrams. It's coming. So, I got a big one I can't say right now, but I got one that you're going to love.
You're going to be so excited to be there for this week. Is Kid Harrington coming? That's the only person I want to be at. No, I mean, like hug him.
Like, why would I have a face off? I think it was someone I face off with. Like, there's a lot. But, you know, it's going to be good.
It's going to be a mono-ammono. Interesting. You should interview him just for... He's like four foot ten.
He's tiny. He was on Saturday. I'm like, oh my God, he looks like my paper boy. The guy is so tiny.
He's not the king of the north. He's tiny. He's like, I did an event. He's like, I got very close to Richard Plutler.
And so whenever they had premieres, we used to do premieres here in Silicon Valley. And the geeks loved it. And as I told you, they came dressed up. They bring the iron throne, which I certain is made of plastic.
And they, it was some knives, you know, taped on it. And people would sit in pictures. But one year we did it and they brought in George RR Martin and then the two creators of the show, I forget their names. And I did an estate stage interview with them, which was great.
And they also brought all the cast members. He was one of them. They brought... Sorry, yeah.
I'm not supposed to be dangerous. By my tongue. They brought her. They brought...
I don't know. They were all looking good. They sat there and they came to the thing. And it was a very exciting thing.
But he wasn't that small. He was like small, the way actors are small. Yeah. The screens are horizontal.
So you have to conquer. They're the stars. And Tom Selleck was never a movie star because he was too tall. But anyways, another big prediction.
I can't resist. And this is important. This is important. And I don't say this lightly because it has impact on society and it's a controversial statement.
The Jimmy Land and the Lannister is going to kill Thursday. You heard it here, Kara. I choose heroin. I choose heroin.
I am doing nothing but Game of Thrones for the next literally like five weeks. Do not call me. Do not bother me. Winter is coming.
Winter is coming. Oh my God. It's a television show. You'll be on to the next five.
Oh my God. Well, it's ending. Let me give you some information just like all things in life. It's ending.
That will be that. And then you can watch endless reruns of it and then be like, I don't even watch this. I'm using advice. Vitamin water.
Marijuana and Game of Thrones. Let me check out. I am ready to go. Take me.
God. I'm waiting. Thank you. All right.
Thank you Scott. It's time to go. What else are you doing this week? What are you doing this week?
I'm doing a lot of stuff. And we're going to do a bunch of New York stuff. We're going to go see the new. Yeah.
And I want to, yeah, we're probably going to go see a play and be tourists in our own town. Do you like Hudson Yards? My girlfriend works. I think Hudson Yards is, I don't quite understand Hudson Yards.
I think it's just so far out there. I love it. Look, it took vision. I really like to end dark on all the people that made that happen.
I think it's an inspiration. But I just went over there. I think, okay, how do I get out of here? I find it difficult to get in and out of Hudson Yards.
That's my point. Anyway, thank you so much, Scott. Thank you. Rebecca Sonana produces a show and a shot.
Kerwa is the executive producer. Thanks also to Eric Johnson. Thanks for listening to Pivot from Boss Media. We'll be back next week with more of a breakdown of all things tech and business.
If you like what you heard, please subscribe, rate, and review Pivot on Apple Podcasts.