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Pivot

Tech Layoffs, Midlife Investing, and Parenthood in the Age of AI

Fri, 20 Dec 2024

Description

It’s our second call-in show! Kara and Scott talk to Pivot listeners and answer questions about investing in your 50s, how much is enough, and what is going with the job market in tech. Plus, how to approach parenthood in today’s age, and how to address racial biases in venture capital. Follow us on Instagram and Threads at @pivotpodcastofficial. Follow us on Bluesky at @pivotpod.bsky.social. Follow us on TikTok at @pivotpodcast. Send us your questions by calling us at 855-51-PIVOT, or at nymag.com/pivot. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Audio
Transcription

Chapter 1: How do I navigate tech layoffs?

Chapter 2: What does 'enoughness' mean in personal finance?

Chapter 3: How can I invest in my 50s?

1.212 - 14.803 Scott Galloway

Hey, it's Scott Galloway. In today's marketing landscape, if you're not evolving, you're getting left behind. In some ways, it's easier than ever to reach your customers, but cutting through the noise has never been harder. So we're going to talk about it on a special PropG Office Hour series.

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14.823 - 29.074 Scott Galloway

We'll be answering questions from C-suite execs and business leaders about how to market efficiently and effectively in today's chaotic world. So tune into PropG Office Hour special series brought to you by Adobe Express. You can find it on the PropG feed wherever you get your podcasts.

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34.025 - 49.089 Kara Swisher

In every company, there's a whole system of decision makers, challenges, and strategies shaping the future of business at every level. That's why we're running a special three-part Decoder Thursday series, looking at how some of the biggest companies in the world are adapting, innovating, and rethinking their playbooks.

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49.449 - 63.113 Kara Swisher

We're asking enterprise leaders about some of the toughest questions they're facing today, revealing the tensions, risks, and breakthroughs happening behind closed doors. Check out Decoder, wherever you get your podcasts. This special series from The Verge is presented by Adobe Express.

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65.046 - 84.532 Kenny Beecham

What's up, y'all? It's Kenny Beecham. We are currently watching the best playoff basketball since I can't even remember when. This is what we've been waiting for all season long. And on my show, Small Ball, I'll be breaking down the series matchups, major performances, in-game coaching decisions, and game strategy and so much more for the most exciting time of the NBA calendar.

84.932 - 91.034 Kenny Beecham

New episodes through the playoffs available on YouTube and wherever you get your podcasts. Subscribe to Small Ball with Kenny Beecham so you don't miss a thing.

94.989 - 105.115 Kara Swisher

Who's meowing? Who's that meowing? Hi, everyone. This is Pivot from New York Magazine and the Vox Media Podcast Network. I'm Kara Swisher.

105.395 - 106.356 Scott Galloway

And I'm Scott Galloway.

106.656 - 113.88 Kara Swisher

Scott, get excited because we're doing your favorite show of the year. Horn? No, no. Scott, immediately you go.

Chapter 6: What is the relationship between capitalism and personal fulfillment?

3450.68 - 3467.251 Scott Galloway

Today's show was produced by Lara Naiman, Zoe Marcus, Taylor Griffin, and Christine Driscoll. Ernie Intertide engineered this episode. Thanks also to Drew Burrows and Mia Silverio. Nishat Kerouaz, Vox Media's executive producer of audio. Make sure you subscribe to the show wherever you listen to podcasts. Thanks for listening to Pivot New York Magazine and Vox Media.

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3467.972 - 3479.6 Scott Galloway

You can subscribe to the magazine at nymag.com slash pod. We'll be back next week for another breakdown of all things tech and business. And get to business. And when I say get to business, I mean get to busy with your love machine. Have children.

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Chapter 8: How to balance parenthood and career in today’s world?

2056.711 - 2067.957 Kara Swisher

Same thing's happening in law, same thing's happening in every single industry where they can replace and use AI or other technologies to do so. And I don't think it's stopping anytime soon. Scott?

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2068.43 - 2081.785 Scott Galloway

Yeah. So what I think of it as, the analogy I would use is that Ozempic or semaglutide drugs basically tell the brain, they stop sending signals that you're hungry. They send signals that you're sated much sooner.

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2082.757 - 2093.789 Scott Galloway

And the most seminal earnings call I've seen in business was three earnings calls ago for Meta, where they announced that they had increased their revenues by 23% while decreasing headcount.

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2094.489 - 2112.996 Scott Galloway

And if you're in the tech industry or software that's eating the planet and every year controls more and more of GDP and your revenues are likely growing, there's a signal going to your brain, need to hire more, need to hire more. What is going through every board, and I know this firsthand mind and CEO, and they can't say this in all hands.

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2113.316 - 2132.03 Scott Galloway

They can't say in all hands, I've got good news, our revenues are up. But the great news is I'm going to need fewer of you next year. They don't say the last part because it is not aspirational. But the reality is the most seminal breakthrough technology in history is first and foremost, I think, being used for drug discovery and health care.

2132.07 - 2154.738 Scott Galloway

I think that'll be its biggest value add to expedite discovery around health care. But its second biggest quote unquote value add, quite frankly, is around efficiency, which is Latin for do more with less people. So this is and then you put that on top of the cloud and you just have every CEO thinking, how can I how can I grow my revenues 8 percent next year with 10 percent less people?

2155.538 - 2177.737 Scott Galloway

And also, it's up and down the stack. It's not senior managers. They tend to figure out a way to hold on to their jobs. Not always, but most of the time, but middle management and back. You'd hate to be in a back office right now for a B2B company or, you know, compliance or legal, whatever it is, these things that can be routinized. So there's going to be a lot of pain.

2177.757 - 2200.926 Scott Galloway

I just want to move to a question, like, what do you do about it? Because I hear from a lot of young men that are struggling. Who I am increasingly hearing from is people in their 30s, 40s, and 50s who say, I need to reinvent myself. or my career path has been derailed because quite frankly, I was a good software engineer. Maybe I wasn't a genius, but I was good at what I did.

2200.946 - 2223.545 Scott Galloway

I was working remotely, making 150K a year, and all of a sudden, I can't find a job. Overnight, a switch went off. The first thing I say is to forgive yourself. And that is, I've been unemployed for a good three to five years of my life. I was kind of wandering. I had sort of pretend jobs. I joined NYU so I could say I was doing something.

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