Author/entrepreneur Scott Galloway joins Trevor and Christiana to discuss the economic and social crises plaguing the world (okay, only some of them). They contemplate why young men are failing, the masculinity crisis, how we can all help, and the importance of “garbage time”. They also debate the great American misdirect and how the billionaire class bought the 2024 election and got young people to pivot away from the Democratic party. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Chapter 1: What challenges do young men face today?
I realized that if someone wasn't interested in me, someone didn't want to hire me, someone didn't want to invest in my company, I was going to be just fine. It didn't get in the way. I ran for sophomore, junior, and senior class president. I lost all three times. Based on my track record, I decided to run for student body president, where I went on to wait for it, lose.
But recognizing no is not the worst thing in the world is the key skill. And young men, because of a low entry, low risk entry into relationships with bots or AI sex dolls or you porn, have decided they no longer want to tolerate no. That is the key. But I would suggest...
If you do get the no, don't say you're fine. You can say I felt rejected. You can say I felt like a loser. You can say I felt like I can't get a woman. You can say all these things. But I think it's important with anti-fragility to say, but I know I will be fine. I'm still here. There's still going to be tomorrow. It's not the end of the world. It should end.
You're embarrassed and you feel stupid and all these things. But I love what you say. You will be fine. This is What Now? with Trevor Noah.
Where are you coming in from, by the way? Oh, I have a place. I live in London, but I have a place here. You live in London? I do, yeah.
What part of London? Marylebone. Oh, what made you choose London?
I grew up there. Around this stuff, I'm an influencer, not a decision maker. My wife told me we were moving five years ago.
You sound like a great husband.
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Chapter 2: How does the U.S. compare to Europe for career opportunities?
Yeah. Well, I'm on the road a lot, so she says I don't get a vote. Is your wife British? No, she's actually born in Poland, raised in Germany. Both my parents are initially from the UK.
Oh, nice. So you have the citizenship?
I have dual. I was almost drafted when the Falkland Islands crisis broke out, which my mom was not anticipating. Wow. Yeah.
So your parents are British, but you were born in America.
Born in America, yeah.
And are your parents still in America? Yeah.
My mom's passed. My mom passed. My dad is in San Diego.
Oh, so they stayed. Does he still have his accent?
Oh, it's a Scottish accent. Oh, he's a Scotsman. I love that. If I could give my sons anything, it would be a Scottish accent.
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Chapter 3: What is the impact of the current geopolitical climate?
26 just about to turn 27 yeah I've been here 10 years now but I'm thinking about what my exit is and when I talk to Trevor about it all the time oh really we should talk about that yeah I'm just like I'd like to have a foot in each world like how can I build my career so I'm like partially in LA partially in London because I don't know how you feel but I find London very like grounding and like grounded in a way that I haven't found in the US yeah as much as US has lots of opportunity and all of that I'm just like
I think about that a lot. We should talk about it. Yeah, we're talking about it. Are we recording?
Yeah, we're recording.
Welcome to the podcast. I'll be infinitely more charming and insightful then. So the way I would distill the difference between the U.S. and Europe is the U.S. is still the best place to make money and Europe's the best place to spend it. So my crude reductive analysis on someone at your age is you're probably still in the making money part of your face.
There's more opportunities that will bump off of you in the U.S. than will in triple the time in Europe. But once you get to a point of economic security and you start thinking about lifestyle, Europe's a much more civilized same place. It's great for kids.
Yeah, I've got three kids.
You can get a much better bottle of wine for $10 in Spain than you can anywhere in the U.S. The people are friendly, but the reality is the opportunities and the risk capital just isn't there. For every company in the U.S., there's $5 million in venture capital. For every company in Europe, there's $1 million.
So there's just not nearly the risk aggressiveness and the opportunities to make money in Europe as there are here. So I would say, as I was when I was your age, I was very economically focused. I wasn't trying to be a better person or find a family or change the world. I was trying to be rich. And America is absolutely the best place to establish economic trajectory.
Once you have money, peace out to Europe. So this is actually a question I had for you.
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Chapter 4: How are economic policies affecting the middle class?
They were in World War II before us, training Allied pilots. I love the test of that wonderful, very emotional test of friendship that the Holocaust survivor said to Buffett when she was saying, who are your real friends? She said, my test is, I think, would they hide me? That is a very puncturing Question, right? And the reality is in the 1979 hostage crisis, the Canadian embassy, they hit us.
They hit six American diplomats, taking enormous personal risk to get them out of the country, and then they stayed behind. And if they'd been caught, there's a good chance they would have been hanged by cranes. So the Canadians... are willing to hide Americans. They are really true friends.
And right now we're in a situation where they don't even understand why we're trying to levy so much damage on their economy. So this post-World War II order that America has been sort of the leader in is being ripped up. And I don't think it's a good idea. The silver lining, I like to think what could go right. I struggle with anger and depression, so I consistently ask myself what could go right.
What could go right is that possibly Europe is finally a union. And that is they realize their rich uncle has lost his shit. Yeah. There's no more trust fund. We cannot count on the $800 billion military umbrella and the economic... what I'll call consistency and rational thinking of America. And they are talking about increasing their defense budget from 1.9% of GDP to 3%.
And I think that stimulus, I think Europe actually coordinating because of the crisis around a lack of American leadership, The EU economy is $19 trillion. Russia is $2 trillion. Russia is actually smaller than Canada.
So there's no reason that if the EU gets its shit together and starts coordinating and increasing their military budgets, they shouldn't be able to push back on Russia all on their own. And I think that stimulus and also the spillover of technology might actually create an upward spiral of economic growth in Europe.
So I'd like to think the silver lining here is that some of the most advanced countries civilized democratic economies in the world and some of those robust economies are quite frankly getting their shit together. That Europe is a union for the first time in a long time.
Some would argue that like that stimulus is part of the reason that we're in the problem we're in today. You know, building our economies around the military, spending our money and really getting things going by sort of getting wars going. And we've seen the effect that it has on an economy. You go to war, things start moving. You know, people start getting paid, things start getting made.
But it's also war.
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Chapter 5: What role does race and class play in the current American society?
So how do we kind of speak to those people and get them to see the other perspective?
I think it's through numbers and data. In terms of the very real justifiable argument of like, there's a lot of problems here. We should be focusing all our capital here.
The $75 billion in USA, the $60 billion in Ukraine, I would argue is nothing but a weapon of mass distraction to get you to look away from the fact that the tax cuts that Trump is about to implement will increase our deficit by $800 billion. And the problem is Democrats don't speak in language that people can understand. This is what a deficit is.
A deficit is a tax on you and your children in 10 to 30 years. It crowds out investment in technology and education. They create more growth. It crowds out our ability to have programs for younger people. Basically, our debt, our entire federal budget is moving towards senior citizens. Forty percent of everything goes to people over the age of 65. Interest on our debt and the military.
So we can't make these forward leaning investments that benefit you. And you're going to have to pay it back. Not me. I'll be dead by the time we run out of credibility and the Treasury market fails.
so all of this nonsense around let's not invest in ukraine usa bring the money home the dojo 2.6 billion dollars in savings so far according to the wall street journal if you want to 6x the savings from doja stop all subsidies to tesla So your job is to allocate capital. So I think the helicopter crash was DEI, Doja, only male and female, the gulf of cheaper eggs.
It's all a misdirect from the most irresponsible spending that we're about to incur. And that is you're about to incur a future $800 billion tax every year such that I can make more money. that essentially America has become about our fiscal policies have become the following.
Give me your credit card so I can be in the club doing rails and champagne, and all you get to do is pay for it in the form of deficit. $60 billion is a decent amount of money, but it's nothing like the $800 billion a year we're going to lose in deficit spending. I think USAID is an amazing investment for people around the world to feel good about America.
I think pushing back on Russia for $60 billion a year and setting a signal that we are willing to sacrifice for democracies and repel murderous autocrats, I think that's an outstanding investment. $800 billion a year to give me a tax cut? Bad idea.
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Chapter 6: How did the 2024 elections reflect societal changes?
Trevor knows kids. You don't need any help. Right. Your kids in America today, and we should celebrate this, you'd rather be born non-white or gay than poor. The academic gap between black and white 60 years ago was double between rich and poor. It has flipped.
But Scott, don't you think it's still concerning that 70% of the people who are poor are people of color?
But then the question is, how do we help them? Letting in the Taiwanese daughter of a billionaire is not diversity or firmness.
I mean, I've never felt that diversity.
60 years ago, there were 12 Blacks at Harvard, Princeton, and Yale combined. That's a problem. Race-based affirmative action made sense. This year, 60% of Harvard's freshman class identify as non-white. But here's the thing, 70% of those kids come from upper-income homes. So, Where should we go?
I think most Republicans and almost all Democrats agree that some people are born with wins in their face that deserve a little bit of help. By the way, I'm talking my own book. I got Pell Grants. My mother lived and died a secretary. We were generously upper, lower, middle class.
So I got unfair advantage in the form of Pell Grants because I came from a household that was considered in the bottom quartile.
Yeah.
I think that's where it should be now. But what we have in the U.S. is a conspiracy between the 1% and any administration that says, you don't need to worry. You don't need to speak up. You're the most powerful, but bitch about it to your friends and wring your hands about what's going on. But you're not going to come out and speak about it. You're not going to refuse to go to his inauguration.
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