Big Tech CEOs Kiss the Ring at Donald Trump’s Inauguration | Pivot

1. 0:00 – 4:28

   Intro Chat

   1. KSKara Swisher0:00

      No, I wait for the day where you're gonna say something to me that I'm gonna have to break up with you.

   2. NANarrator0:07

      (instrumental music)

   3. KSKara Swisher0:12

      Hi, everyone. This is Pivot from New York Magazine and the Vox Media Podcast Network. I'm Kara Swisher, and it's inauguration weekend. I'm so excited I'm leaving town.

   4. SGScott Galloway0:21

      Folks, I just... I just wanna warn you, the inauguration, um, a ton of pornography, a lot of drinking, Peroni, Xanax, '80s music, aerial firefighters, just hang with me. I'm... Someone asked me, they're like, they were worried about me because I got so triggered at the election, and they said, "Are you all right after the inauguration?" I'm like, "Well, am I all right?"

   5. KSKara Swisher0:48

      Yeah. (laughs)

   6. SGScott Galloway0:48

      I feel like Ving Rhames after he was ass raped in Pulp Fiction.

   7. KSKara Swisher0:52

      (laughs)

   8. SGScott Galloway0:52

      I'm pretty fucking far from all right.

   9. KSKara Swisher0:54

      Uh-huh.

   10. SGScott Galloway0:54

       And I just... The-

   11. KSKara Swisher0:56

       Yeah.

   12. SGScott Galloway0:56

       ... Democrats in an attempt to be somewhat civil-

   13. KSKara Swisher0:59

       Yeah.

   14. SGScott Galloway0:59

       ... and, you know, uh, like they're back at their Princeton Review-

   15. KSKara Swisher1:03

       No. We're not gonna be civil.

   16. SGScott Galloway1:04

       I'm- I'm done.

   17. KSKara Swisher1:04

       We're not being civil.

   18. SGScott Galloway1:05

       I'm not, I'm not gonna be elegant or graceful about this. (laughs) I refuse to nor- I refuse to normalize this shit.

   19. KSKara Swisher1:11

       Yes, I agree with you, Scott. I'm on board. Someone told me, you know, you have to get along. I'm like, "Do I?" I don't do that in my regular life. I'm not... I feel like I'm gonna just stick to my consistent state of being irritating.

   20. SGScott Galloway1:23

       No, I'm g- I- I'm gonna be more partisan, more pornographic. So for those of you who don't know, and this is the part of the program where we pat ourselves on the back, Kara and I's, uh, relationship or deal ends with Vox soon, and we're hoping to renew. We love Vox. But we're out there talking to people, and literally every media company in the world wants Kara Swisher and is putting... willing to put up with Scott Galloway as sort of the tariff, if you will-

   21. KSKara Swisher1:48

       (laughs) Tariff. Oh, I like that.

   22. SGScott Galloway1:50

       ... for getting Kara Swisher onboard. And as a means of weeding out, I'm gonna just become so fucking pornographic-

   23. KSKara Swisher1:56

       Uh-huh. Okay.

   24. SGScott Galloway1:56

       ... and vulgar, and we're gonna see who really wants you, Kara.

   25. KSKara Swisher1:59

       Really wants who. (laughs) It's true.

   26. SGScott Galloway2:00

       Who really, really wants you.

   27. KSKara Swisher2:02

       You know, I- I do not mind the pornography. I- you know where I'm going by the way away for the weekend? Miami. Your favorite place.

   28. SGScott Galloway2:08

       Oh, uh, I- I can tell you where to go.

   29. KSKara Swisher2:10

       Okay. No.

   30. SGScott Galloway2:10

       Stay at the Faena. Go have-
2. 4:28 – 11:20

   Trump's Inauguration and Big Tech

   1. KSKara Swisher4:28

      so anyway, we're- we're both not gonna be here for the inauguration, but good... You know what's my favorite part? So they have the... A lot of the ex-presidents are coming, but Michelle Obama is like, "Peace the fuck out." She like r- she's not coming, and she's not explaining why. That's my two favorite parts.

   2. SGScott Galloway4:43

      Good for her.

   3. KSKara Swisher4:44

      She's not... I love that she's not explaining why. She's like, "I'm not coming. That's all." That's it.

   4. SGScott Galloway4:48

      'Cause it sounds like the shittiest-

   5. KSKara Swisher4:49

      Yeah.

   6. SGScott Galloway4:50

      ... party that you don't wanna ha- that you don't wanna go to.

   7. KSKara Swisher4:53

      Yeah.

   8. SGScott Galloway4:53

      I don't know. The, the-

   9. KSKara Swisher4:54

      None of the presidents are going to the lunch. Clinton, Obama, and Bush are not going to the afterward lunch that they're supposed to go to. They all peaced out of that. They're going to the show, but then, uh, but then, uh, they're, uh, they're not, they're not going to the lunch.

   10. SGScott Galloway5:09

       I think there is a... I'm gonna try and bring this back to a life lesson.

   11. KSKara Swisher5:12

       Okay.

   12. SGScott Galloway5:12

       One of my mentors is this guy named Barry Rosenstein from Jana Partners. Said one of the really nice things about having economic security, he said, "Life is three buckets professionally," or just three buckets. There's things you wanna do-

   13. KSKara Swisher5:24

       Mm-hmm.

   14. SGScott Galloway5:24

       ... right? You wanna hang out with your kids. You wanna go to see Cole Palmer play for Chelsea.

   15. KSKara Swisher5:29

       Mm-hmm.

   16. SGScott Galloway5:29

       Whatever it is.

   17. KSKara Swisher5:29

       Mm-hmm.

   18. SGScott Galloway5:30

       There's things you wanna do. There's things you have to do.

   19. KSKara Swisher5:32

       Right.

   20. SGScott Galloway5:32

       Right? If Bankoff, the CEO of Vox, is in town and says, "I really wanna meet with you guys," we kind of have to do that, right?

   21. KSKara Swisher5:37

       Not really, but yes.

   22. SGScott Galloway5:37

       I mean, that's more want and have to.

   23. KSKara Swisher5:39

       Sure. He's not like that though.

   24. SGScott Galloway5:40

       You get what I'm saying.

   25. KSKara Swisher5:40

       But okay, yeah. Go ahead.

   26. SGScott Galloway5:42

       Yeah, but if... Okay, what... I don't know. I don't know if, if... There's just things you're... Your mother-in-law is not doing well and you need to go visit her. You have to do that, right? Um, anyways... And then there's things you should do, and building your career is about things you should do. You should go to this event 'cause who knows, you might get a client.... you should go to the bat mitzvah of your coworker's-

   27. KSKara Swisher6:06

       Mm-hmm.

   28. SGScott Galloway6:06

       ... daughter," or whatever it might be. He said, "The thing about economic security is you can eliminate-"

   29. KSKara Swisher6:12

       Mm-hmm.

   30. SGScott Galloway6:12

       "... should." He said-
3. 11:20 – 15:12

   Biden's Farewell Warning

   1. KSKara Swisher11:20

      President Joe Biden delivered a stark warning in his farewell speech on Wednesday about the dangers of tech titans with unchecked power. Uh, shall we listen?

   2. NANarrator11:29

      Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead. We see the consequences all across America, and we've seen it before.

   3. KSKara Swisher11:50

      So, Biden mentioned the tech-industrial complex. You're welcome, Biden. I say that all the time. Taking a page from Dwight Eisenhower's military-industrial complex. He also said, quote, "The truth is smothered by lies told for power and for profit." I... You know, they, of course, made fun of him that he's whining. I kind of liked it. I liked that Joe's going down fighting. I liked it. I liked the whole thing. What, what did you think?

   4. SGScott Galloway12:11

      This was Eisenhower warning-

   5. KSKara Swisher12:13

      Yeah.

   6. SGScott Galloway12:13

      ... warning about the military-industrial complex. And it was a very prescient speech.

   7. KSKara Swisher12:17

      This was a general, keep that in mind.

   8. SGScott Galloway12:18

      Yeah, this is a guy who, you know, (laughs) was not afraid of, of war, was a big supporter of the military, and he saw the emergence of, uh, uh, uh, the conflation of private interests and national interests to create a permanent military industrial complex. And there's no doubt about it, Biden's speechwriters looked at this-

   9. KSKara Swisher12:36

      Mm-hmm.

   10. SGScott Galloway12:36

       ... speech, and I loved-

   11. KSKara Swisher12:37

       I did too.

   12. SGScott Galloway12:38

       ... this speech. I think this is... An unfortunately-

   13. KSKara Swisher12:41

       Hm.

   14. SGScott Galloway12:41

       ... no one gives a shit because, uh, Musk is gonna show up at a fire station and dominate the media or-

   15. KSKara Swisher12:47

       Mm-hmm.

   16. SGScott Galloway12:47

       ... they're gonna talk about Vivek Ramaswamy taking the-

   17. KSKara Swisher12:49

       Hm.

   18. SGScott Galloway12:49

       ... JD Vance Senate seat. I mean, they, I gotta give it to him. Between, between X and, uh, social media, they have basically just squeezed out... I mean, is, is, is Biden still president?

   19. KSKara Swisher13:03

       Right. Right, right.

   20. SGScott Galloway13:04

       You wouldn't know. This was an important-

   21. KSKara Swisher13:05

       I agree.

   22. SGScott Galloway13:05

       ... speech. It's ac- uh, I, I, in some ways I think it's his most-

   23. KSKara Swisher13:09

       Mm-hmm.

   24. SGScott Galloway13:09

       ... prescient speech. It's a warning and about the aggregation and the concentration of power-

   25. KSKara Swisher13:14

       Mm-hmm.

   26. SGScott Galloway13:14

       ... around an industry, um, and no one gives a shit. (laughs)

   27. KSKara Swisher13:17

       But you know what? I was thinking about this the other day, the same thing with the re- no, they do give a shit. Here's why. I was thinking about the Jack Smith thing getting released, the, the, um, the files, and some of this other stuff, and everyone's like, "Well, it's over." I'm like, "You know what? Historically it's not." This, we have to think long term. Eventually this will have importance. I don't know what happened when Eisenhower gave this speech. We don't, we weren't there, and obviously we don't know. But I feel like, uh, uh, it's important for history to have this on the record. It's important for this report not to be suppressed. It's important for Biden to say those things, and I do, you have to sort of get a his- a bigger, more historical thing in how it's gonna go down.

   28. SGScott Galloway13:55

       Mm-hmm.

   29. KSKara Swisher13:56

       And so I, I thought it was very, uh, it was well done, it was well written, and it was, it was-

   30. SGScott Galloway14:01

       What do, what do you think Biden's legacy will be in 10, 20, 50 years?
4. 15:12 – 20:12

   WaPo Employees Send Letter to Bezos

   1. KSKara Swisher15:12

      I talk too much about, over 400 employees at the Washington Post sent a letter to Jeff Bezos.

   2. SGScott Galloway15:16

      Oh God.

   3. KSKara Swisher15:16

      This is interesting. 400 employees.

   4. SGScott Galloway15:19

      Help me.

   5. KSKara Swisher15:19

      The letter expresses concern about the future of the paper including, quote, "recent leadership decisions that have led readers to question the integrity of the institution." Makes a point to note that the concerns are unrelated to Bezos' decision and endorsements of presidential candidates. Um, I- just, I'm just pointing it out. You don't have to say anything. I think 400 employees doing that is interesting. I didn't make them.

   6. SGScott Galloway15:38

      So maybe they could, if they really get serious, maybe they could do a lunch walkout.

   7. KSKara Swisher15:43

      (laughs) Let people make-

   8. SGScott Galloway15:44

      Look folks, uh, somebody...

   9. KSKara Swisher15:46

      Okay. All right.

   10. SGScott Galloway15:47

       A- all right. I've, I haven't run big companies, I've run medium-sized companies. Uh, don't send me fucking letters, just quit. Just, just, just go to work for the New York Times. Uh, d- uh, all the, all the peacocking and posturing and complaining and whining. Uh, you know, what I said to my ex-wife, "Yeah, I understand, let's get-"

   11. KSKara Swisher16:04

       Yeah.

   12. SGScott Galloway16:04

       "... divorced." Uh, I mean, uh, l- uh, that was harsh.

   13. KSKara Swisher16:08

       Yeah. Yeah, alright.

   14. SGScott Galloway16:08

       Lovely woman, lovely woman. Anyways, I'm kinda, I'm kinda done with, uh, employees, uh, bitching and moaning, and it's a free labor market, you're very, the people, the, the reporters at the Post are some of the most talented-

   15. KSKara Swisher16:21

       Hm, I'm gonna push back.

   16. SGScott Galloway16:21

       ... journalists in the world. Okay. J- uh, Jeff Bezos isn't gonna, you wanna talk about things he should do and he won't? You really think this is gonna move the needle?

   17. KSKara Swisher16:31

       I get it. I get it.

   18. SGScott Galloway16:31

       You really think? I'm sorry, go ahead.

   19. KSKara Swisher16:32

       Can- I'm gonna interject here because I, when I worked there-

   20. SGScott Galloway16:35

       Yeah.

   21. KSKara Swisher16:35

       ... bitching and moaning during, uh, w- uh, uh, wa- a very early MeToo thing made a difference. Initially they ignored the reporters and they pushed it and pushed it internally and it worked. It does, it can work at certain pl- at certain times. Maybe-

   22. SGScott Galloway16:49

       I think that's the mother of all false analogies.

   23. KSKara Swisher16:50

       No, boy, it can, it can work to speak up.

   24. SGScott Galloway16:53

       Because sexual harassment and suppressing the rights of women and, and-

   25. KSKara Swisher16:58

       Alright, alright.

   26. SGScott Galloway16:58

       ... uh, uh, that's just a whole-

   27. KSKara Swisher16:59

       Alright, I was trying to think of an-

   28. SGScott Galloway16:59

       ... new-

   29. KSKara Swisher17:00

       ... cartoon.

   30. SGScott Galloway17:00

       That's, that's a warning that, uh, cartoons?
5. 20:12 – 29:47

   Big Story: TikTok's Future

   1. KSKara Swisher20:13

      (instrumental music plays) As we tape Thursday morning, we're still waiting for the Supreme Court to decide on the TikTok ban. TikTok Supreme Court! I mean, it's January 19th is when it runs out, which is Sunday, but a lot of TikTok news is happening since our last episode. First up as usual, I was right. Chinese officials have reportedly internally discussed an option of selling TikTok to Elon Musk, though TikTok has called the reports pure fiction, as if they'd know. Uh, of course they would like Elon to have it, it, it, he's, he's a Jason, he's got a lot of business interests there. Um, so, uh, so there's that. Um, TikTok also has a lot of advocates in its corner. President-elect Donald Trump is considering an executive order to save TikTok from the office, uh, TikTok once he's in office. Although, someone likened it to a press release with better, um, with better stationary because it doesn't have the force of law. Um, uh, 'cause five years from now if Trump's not there, a Democratic president or someone else could hold Apple-

   2. SGScott Galloway21:06

      Yeah, you could sue them.

   3. KSKara Swisher21:06

      ... and Google liable.

   4. SGScott Galloway21:08

      Yeah.

   5. KSKara Swisher21:08

      Just so you know.

   6. SGScott Galloway21:09

      Yeah, yeah.

   7. KSKara Swisher21:09

      So, I think they're gonna follow the law and not Donald Trump, even if he doesn't want to enforce it.

   8. SGScott Galloway21:13

      I think you're right, I think you got that right. Yeah.

   9. KSKara Swisher21:13

      Senators Ed Markey, Ron Wyden, and Cory Booker along with Rep- Representative Ro Khanna, our friend Ro Khanna, have announced legislation to extend the TikTok ban deadline. It already has a 90-day thing that the president can put in place if there's, if there's efforts underway, but there are not efforts underway. So, and President Biden's administration is considering, who would push this thing, is considering ways to keep TikTok available in the US if the ban goes into effect. TikTok has said it might close down Sunday, um, there's a number of things that could happen. But I suspect if the Supreme Court says it's legal, Apple will, Apple and Google will shut it down, um, or they'll shut themselves down. Um, talk a little about the back, uh, uh, tracking and what, I- I don't know what this about, the delay is interesting to me. Maybe there's a little bit of, or maybe they all wanna write their own this, 'cause this is such a big and, and it is a big and important decision. Um, t- tell me what you think here because I, uh, the, the, the delay is interesting. And I only think they all wanna write, that's would be my guess, and they need some time to do that.

   10. SGScott Galloway22:13

       Yeah, I think it has geopolitical overlay and that is China and the US are the two biggest economies. I wouldn't call us enemies, but we're adversaries. And I think it's just, um, s- dumb from a game theory standpoint. I mean, essentially what's happening here is the Biden administration kinda got tough, uh, proposed-

   11. KSKara Swisher22:33

       Mm-hmm.

   12. SGScott Galloway22:33

       ... this legislation, it passed, it's law. It is law of the land-

   13. KSKara Swisher22:36

       Law of the land.

   14. SGScott Galloway22:36

       ... as you pointed out.

   15. KSKara Swisher22:36

       Law of the land.

   16. SGScott Galloway22:38

       And all this bullshit with Democratic senators trying to scramble to write new laws to extend the ban hoping that, well, China will back down. Well, guess what? We're blinking, they're not. And so to not actually ban this thing regardless of the fallout I believe weakens our ability and gives Xi's, and gives Xi the ability to think, "You know what? When, when shit gets real, we're n- we don't blink-

   17. KSKara Swisher23:02

       Yeah.

   18. SGScott Galloway23:02

       "... they do."

   19. KSKara Swisher23:03

       Agreed, agreed.

   20. SGScott Galloway23:03

       We're blinking right now. And I think that has geopolitical ramifications across any negotiation, whether it's China or trade, and that is they've said, they've essentially said, "We're calling your bluff."

   21. KSKara Swisher23:15

       Mm-hmm.

   22. SGScott Galloway23:15

       And we've said, "Oh, okay. Maybe we can figure out a way to extend the b- extend the deadline so maybe you'll blink."

   23. KSKara Swisher23:22

       Mm-hmm.

   24. SGScott Galloway23:22

       They're not going to.

   25. KSKara Swisher23:24

       Right.

   26. SGScott Galloway23:24

       Or it doesn't appear they're going to. The other observation I would make is that, uh, and I really hope this doesn't happen-

   27. KSKara Swisher23:30

       Mm-hmm.

   28. SGScott Galloway23:30

       ... around Elon, is whenever Elon says something incredibly stupid or cruel or just downright bigoted-

   29. KSKara Swisher23:38

       Mm-hmm.

   30. SGScott Galloway23:38

       ... people, people do the kinda Trump thing, "Oh, you know, he doesn't mean it. He's, it's late-
6. 29:47 – 44:17

   Big Story: Trump Noms’ Heated Hearings

   1. KSKara Swisher29:47

      fires. A number of President-elect Trump's cabinet nominees are on Capitol Hill this week for their confirmation hearings. It's, you know, the perfor-... I'm speaking performative. Secretary of State nominee Marco Rubio got a welcome reception from senators on both sides of the aisle.

   2. SGScott Galloway30:01

      Marco Rub-... Senator Rubio-

   3. KSKara Swisher30:02

      Low bar, Marco.

   4. SGScott Galloway30:02

      ... has never seen more qualified.

   5. KSKara Swisher30:04

      I know. Low bar.

   6. SGScott Galloway30:04

      He's never seen-

   7. KSKara Swisher30:06

      Low bar.

   8. SGScott Galloway30:06

      He's like the statesman of the 20th century-

   9. KSKara Swisher30:09

      Yeah, yeah, little Marco.

   10. SGScott Galloway30:09

       ... right now. He's-

   11. KSKara Swisher30:09

       Little Marco. Is, is... low bar Marco. Um, and, and may I call you Marco? While Attorney General Nominee Pam Bondi faced pointed questions about election denial and prosecuting Trump's enemies, she was, she was pretty slippery, I thought, and, and when asked, uh, by Senator Blumenthal about whether she would enforce the TikTok ban, Bondi avoided another direct answer. What a good lawyer she is. Let's listen.

   12. SGScott Galloway30:32

       Will you commit to enforce that law on your first day?... when you are conf- if you are confirmed.

   13. KSKara Swisher30:36

       Senator, as I discussed with you during our meeting, that is pending litigation within the Department of Justice.

   14. SGScott Galloway30:43

       Well, it's pending litigation, but will you enforce that law?

   15. KSKara Swisher30:45

       I can't discuss pending litigation. But I, I will, I will talk to all the career offic- uh, uh-

   16. SGScott Galloway30:51

       So, again, um, um-

   17. KSKara Swisher30:51

       ... prosecutors who are handling the case. Absolutely, Senator. Give her the job (laughs) . I don't know what else to say.

   18. SGScott Galloway30:58

       Yeah, I mean, I, I follow this.

   19. KSKara Swisher31:00

       (speaks gibberish) Blegh, bleh.

   20. SGScott Galloway31:01

       Yeah. "It's pending litigation."

   21. KSKara Swisher31:02

       Pending litigation.

   22. SGScott Galloway31:02

       I just, I'm, um, are you gonna pick your kids up from school after school today? I, it's, that's speculative, Senator.

   23. KSKara Swisher31:09

       (mumbles) I don't know and I don't know ..........................

   24. SGScott Galloway31:09

       I don't, that's a hypothetical. I don't-

   25. KSKara Swisher31:11

       (mums) Yeah, yeah.

   26. SGScott Galloway31:12

       I don't know, I-

   27. KSKara Swisher31:14

       She's not gonna enforce it, but it doesn't matter. They'll enforce it themselves. Um, what did you think of her at that hearing? Just curious. Yeah, Pam.

   28. SGScott Galloway31:21

       Pam?

   29. KSKara Swisher31:21

       Let's call her Pam, Marco Pam. Let's just call ... let's diminutize all of them.

   30. SGScott Galloway31:26

       Uh, well, look, I, uh, okay. One, as a citizen and, uh, when these people evaluate people for what are incredibly important jobs-
7. 44:17 – 50:36

   Listener Mail

   1. KSKara Swisher44:17

      Okay, Scott, let's pivot to a listener question.

   2. NCNancy (caller from Santa Rosa, CA)44:27

      Hey, Scott and Kara. This is Nancy in Santa Rosa, California. Uh, my question is, uh, economic and tied to the fires in Southern California. Uh, having lived through several wildfires and been evacuated, I have to say it's breaking my heart to see what's going on in, in Los Angeles. But my question for you two is, where are the banks? It seems to me we're talking about government assistance. We're talking about rebuilding assistance. We're talking about, uh, assistance, uh, what the insurance companies are going to be able to do. But it seems to me that most of those homes and most of those businesses were in buildings that were basically owned by the banks and the occupants were paying it off. Um, so where are the banks? That's my question. Where are the banks? Once again, in another disaster, where are the banks? Thanks, you guys. You've made me so much smarter than I deserve to be. Bye.

   3. KSKara Swisher45:27

      Well, thank you, uh, Nancy from Santa Rosa. Um, I- I- I'll very briefly say, we're, they will be here because they will suffer losses or they will collect all this property because a lot of people probably aren't gonna keep... You have to keep paying your mortgage even if your house doesn't exist, from what I understand, uh, 'cause you have the commitment to the banks. Many people will default or work out other terms with these banks or the banks will get the properties or the land, I guess, and be able to develop it or sell it or, or whatever. I mean, I think it's, that's what's gonna happen here, and I think probably some of them will suffer. Uh, some of the banks will and some won't. Um, you know, the more disturbing conversation going on is all these idiot Republicans saying that they're not gonna pay. They're gonna add, you know, add conditions onto, onto payments around, uh, disaster relief. It's re- just a ridiculous way... Our country has always br- went to the aid in disaster relief, and so that to me is heinous. But in this case, I think the banks will either own the properties or, you know, give building loans to build these things back at probably pretty good rates. I know Newsom's working towards keeping insurance companies off the backs of people and getting, probably, government will probably play a big role here. Scott?

   4. SGScott Galloway46:36

      Uh, I think they're gonna be fine because I, I think it's federal legislation. I know that in Florida, to get a mortgage, you have to show proof of insurance. So, I would imagine the majority of those homes that burn down are gonna get an insurance check such that they can continue to pay their mortgage. The banks cover their ass as they're supposed to, and if you're in a high fire area, uh, or a dangerous area, or I think even if you just get any mortgage, you have, as a condition of getting a mortgage, you have to show homeowner's insurance, so I don't think they have much exposure. The more interesting conversation in my view, and I'm a bit of a Darwinian here, we have a tendency to always wanna socialize the losses, and the reality is when you build a tinderbox or decide to buy a tinderbox in a beautiful, spectacular desert with high pressure and low pressure systems, I'll, I'll go to me. I live on the water in Florida. Uh, there's real climate change risk or weather risk, and my view is, I should either pay for the insurance, uh, at a market rate or move or the value of my house-

   5. KSKara Swisher47:42

      (laughs) .

   6. SGScott Galloway47:42

      ... should go down. And I, and so instead, we go to this understandable sympathy for these people and taxpayers, including people who can never afford to live in the Palisades, end up bailing folks out. I, I, I just hate to say it. I think, uh, I think you, if you're gonna live in a dangerous area because of the upside to you personally from con- consumption standpoint, I don't think taxpayers should be bailing these people out. And until people feel the full weight of whether it's climate change or the cost of living in high-risk areas, we're not gonna do anything about it.

   7. KSKara Swisher48:18

      It's a fair point. It's a fair point. I think there's initial disaster relief. You can bring in food and-

   8. SGScott Galloway48:21

      Yeah, 100%.

   9. KSKara Swisher48:22

      ... you know, uh, cover costs that people pay back and things like that. But I, I tend to agree with you. I think you, you know, I know I live in an earthquake zone in San Francisco, so I went out of my way to put in, uh, steel girders and, uh, put them down into the bedrock. I did so much stuff around fire, uh, uh, in terms of, of, of, of not having as much wood. I thought about passive arch- it's called passive architecture, which is, uh, thicker walls, more concrete, et cetera. Uh, I didn't do all of it 'cause it was an old house. I wasn't able. It was an old wooden house, um, but I definitely did everything possible. It cost me a lot of money to do so. I have enormous insurance, you know, on that because of earthquake insurance. Um, and it's all at the cost to me. Now, I would expect some-... some federal help around food or temporary things or, uh, relief. But I wouldn't-

   10. SGScott Galloway49:13

       Oh, yeah.

   11. KSKara Swisher49:13

       ... I wouldn't demand it after a certain amount of time. Safety-

   12. SGScott Galloway49:16

       But, but-

   13. KSKara Swisher49:16

       ... would be one of them. Like keep my house safe.

   14. SGScott Galloway49:19

       But why should-

   15. KSKara Swisher49:19

       Keep, like, looters and things like that.

   16. SGScott Galloway49:22

       Why should taxpayers-

   17. KSKara Swisher49:23

       Mm-hmm.

   18. SGScott Galloway49:23

       ... federal taxpayers, at the gas pump, paying whatever it is, uh, tax on their current income as-

   19. KSKara Swisher49:30

       Mm-hmm.

   20. SGScott Galloway49:30

       ... a waiter or as a chiropractor, why should they be subsidizing my right to live on the, on the water in Florida?

   21. KSKara Swisher49:38

       Well, that, that, that's a bigger question. Why should people pay for schools? Because if I don't have kids, why should I pay for, uh, corn subsidies?

   22. SGScott Galloway49:45

       Because there's a social good-

   23. KSKara Swisher49:47

       R- right.

   24. SGScott Galloway49:47

       ... to having an educated populous. Is there a social good to making sure Scott can stare at the ocean waiting for the ass cancer?

   25. KSKara Swisher49:53

       (laughs)

   26. SGScott Galloway49:53

       It's not my... It's not your right to live-

   27. KSKara Swisher49:57

       (laughs)

   28. SGScott Galloway49:57

       ... in a spectacular desert that collides with the sea, with these beautiful mountains that create these funnels of hot air.

   29. KSKara Swisher50:06

       Mm-hmm. Yeah.

   30. SGScott Galloway50:06

       If you wanna live there, in my opinion, you should bear the cost-
8. 50:36 – 56:30

   Predictions

   1. KSKara Swisher50:36

      Okay, Scott. Let's hear a prediction, and make it good.

   2. SGScott Galloway50:40

      (laughs) Well, I think that inflation and the 10-year bond are gonna be the adults in the room-

   3. KSKara Swisher50:47

      Oh. Explain.

   4. SGScott Galloway50:47

      ... in the next few months. Uh, well, if you think about 13,000 homes-

   5. KSKara Swisher50:52

      Mm-hmm.

   6. SGScott Galloway50:52

      ... have been destroyed, and the idea that... I mean, Trump's two big policies are, I mean, a few things. Uh, the, the implicit kind of expectation that he'll either keep taxes low or lower them. Two, that he'll be very... He'll take a tougher stand on, on illegal immigrants. And three, that he's gonna impose tariffs. This is the perfect storm for inflation and where you're gonna see examples of it that hit the news are when people start to rebuild in the Palisades and the hiring pool is vastly diminished and the cost of a washing machine or a garage door is up 40% or 60%.

   7. KSKara Swisher51:32

      Mm-hmm.

   8. SGScott Galloway51:32

      And then that month-

   9. KSKara Swisher51:33

      And all the building stuff, all the building stuff.

   10. SGScott Galloway51:35

       And that month, you see a bump up in CPI, and the 10-year goes fucking crazy.

   11. KSKara Swisher51:41

       Mm-hmm.

   12. SGScott Galloway51:41

       It's like his entire... The person I am most excited about in the Trump-

   13. KSKara Swisher51:46

       Mm-hmm.

   14. SGScott Galloway51:46

       ... cabinet who is the most qualified is the 10-year bond.

   15. KSKara Swisher51:50

       Mm-hmm.

   16. SGScott Galloway51:51

       'Cause if it starts to spike and goes and says the expectation of inflation is coming back because of this guy's inflationary policies around tariffs, um, deporting immigrants... And I wanna be clear. If you've committed a crime and you're an illegal immigrant, that's your second crime. I am down with those people being s-

   17. KSKara Swisher52:09

       Mm-hmm.

   18. SGScott Galloway52:09

       ... being, being deported.

   19. KSKara Swisher52:10

       Mm-hmm.

   20. SGScott Galloway52:11

       But the reality is if you go to a construction site, it is an undocumented workers' Lollapalooza.

   21. KSKara Swisher52:16

       It is indeed.

   22. SGScott Galloway52:17

       And by the way, some of these people, speaking for a friend-

   23. KSKara Swisher52:20

       Mm-hmm.

   24. SGScott Galloway52:20

       ... are remarkably fucking (laughs) talented.

   25. KSKara Swisher52:22

       Right.

   26. SGScott Galloway52:23

       And hardworking.

   27. KSKara Swisher52:23

       And especially in California, by the way. Especially

   28. NANarrator52:25

       ... (cross talk)

   29. SGScott Galloway52:25

       ... and will get on a roof, work 12 hours such that they can make, you know, 300, 400 bucks that day and then send 200 home, you know, to wherever it is-

   30. KSKara Swisher52:36

       Mm-hmm.
9. 56:30 – 59:03

   Prof G Preview / Programming Note

   1. KSKara Swisher56:30

      Um, before we go, a quick look at what's going on elsewhere in the Kara and Scott universe. This week on Prop 2 Markets, Scott spoke with our favorite Canadian who now will be under tariffs, Andrew Ross Sorkin, editor-at-large of Deal Book, uh, at The New York Times and co-anchor of CNBC's Squawk Box. Uh, disclosure, he's not actually Canadian. We just call him that. Um, let's listen to a clip of you and Andy Ross.

   2. PHPete Hegseth56:54

      If China is prepared to sell to Elon Musk and only to Elon Musk, what does that say about the leverage and influence (laughs) that China must think that they have over Elon Musk by dint of his factories and Tesla business in the nation state that is China? And then it probably raises a whole secondary order of questions, which is, if China feels this way, how should we as Americans feel that people are calling him the co-president of the United States?

   3. KSKara Swisher57:24

      Well, to say nothing of Russia, Andy Ross, and, uh, his influence is various influencers. How would, how did that go with you and him?

   4. SGScott Galloway57:32

      I l- like, I love Andrew Ross Sorkin. I think the most trusted journalist in the world right now is Anderson Cooper.

   5. KSKara Swisher57:37

      Mm-hmm.

   6. SGScott Galloway57:37

      And I think second is probably, I think the most trusted business journalist in the world is, is-

   7. KSKara Swisher57:42

      Mm-hmm.

   8. SGScott Galloway57:42

      ... is Andrew. And my co-host, uh, Ed Elson, this 25-year-old kid who's been working with us, who is to me what I am to you-

   9. KSKara Swisher57:51

      Mm-hmm.

   10. SGScott Galloway57:51

       ... and that is I discovered his ass.

   11. KSKara Swisher57:54

       Mm-hmm.

   12. SGScott Galloway57:54

       And he said to him, he stopped the podcast, no joke, and he said, "You're my professional role model."

   13. KSKara Swisher57:59

       Oh. Okay.

   14. SGScott Galloway57:59

       To which I responded, "Well, I hope he pays your bonus, bitch."

   15. KSKara Swisher58:02

       (laughs)

   16. SGScott Galloway58:02

       But anyways.

   17. KSKara Swisher58:02

       I was, like, not good. Ed, don't you understand the fine art of kissing up? He has better hair. Let's be clear.

   18. SGScott Galloway58:09

       I think he's, uh, he's arguably the most likable man in media. I've never heard anyone say anything bad about Andrew Ross Sorkin.

   19. KSKara Swisher58:15

       I h- think he's underpaid, actually. I've told him that, because he just-

   20. SGScott Galloway58:18

       Oh.

   21. KSKara Swisher58:18

       ... he, he wants to work at The New York Times.

   22. SGScott Galloway58:21

       He makes bank.

   23. KSKara Swisher58:21

       I know, but he could make bankier. He could make bankier, because he could go off on his own. I don't think enough-

   24. SGScott Galloway58:25

       I don't know.

   25. KSKara Swisher58:25

       I think he deserves more. That's my-

   26. SGScott Galloway58:27

       Maybe you should buy The New York Times.

   27. KSKara Swisher58:29

       Oh, stop it. Listen up. Next week, you'll, uh, we'll be in your feeds a day late because of the holidays. See you on Wednesday to talk about the inauguration. We're gonna tape on Tuesday after it's all over. We're gonna have plenty to talk about, all the pictures of the, the, you know, the three amigos or the three idiotties, um, who will be sitting o- on the, at the parade. And listen, it is no degrees and the richest people in the world have to sit there on really uncomfortable chairs until Donald Trump gets up. What a great world this is. Thanks for watching Pivot on YouTube.

   28. SGScott Galloway58:59

       Oh, YouTube. I've heard of that. It's kinda-

   29. KSKara Swisher59:01

       Yeah.

   30. SGScott Galloway59:01

       It's kind of the new thing, right?
10. 59:03 – 59:25

    Credits

    1. KSKara Swisher59:04

       (instrumental music)

Episode duration: 59:25