Scott Galloway

Welcome to Office Hours with Prop G. This is the part of the show where we answer questions about business, big tech, entrepreneurship, and whatever else is on your mind.

If you'd like to submit a question for next time, you can send a voice recording to officehoursatpropgmedia.com.

Again, that's officehoursatpropgmedia.com.

Or post your question on the Scott Galloway subreddit, and we just might feature it in our next episode.

Our first question comes from PreviousGolf95-41 on Reddit.

They say, Hi, Scott.

Love your stuff and thanks for what you do.

I don't trade individual stocks except for my company through the employee stock purchase program, which I liquidate as it becomes eligible to buy index funds.

Therefore, the S&P is really what matters to my returns.

I keep hearing you and others express fascination at the resilience of the market in the face of pandemics, tariffs, elections, wars, and AI.

Could part of what's going on here be advances in electronic trading tech that are modulating reactive trading?

I'm talking about so-called robotraders, but I feel like it's more nuanced than that.

As AI is further integrated into market strategy and trading tech, is it better at dampening emotion and panic that would have led to severe market downturns in the past?

Is AI better at buying the dip?

Do we know about AI traders and the risks involved?

Thank you for your thoughts.

My immediate reaction is it's always dangerous to think it's different this time and the market is resilient.

As a matter of fact, you just saying that is, in my opinion, a little bit of a sell signal.

I remember in the late 90s when the NASDAQ surged past any rational number, there was an article in the Wall Street Journal saying, maybe we have moved to a different evolution of our economy where valuations should be fundamentally repriced.

And of course, 2000 came and said, no, fundamentals still matter.