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#032 Scott Galloway: It's Never Been Easier To Become A Billionaire, But It’s Never Been Harder To Become A Millionaire
Description
Scott Galloway, Professor of Marketing at NYU Stern School of Business, and best-selling author of multiple books, including Adrift: America In 100 Charts, joins Julia La Roche on episode 32.
In this episode, Julia and Scott delve into the “hunger games, winner takes most” economy that’s emerged, where it’s never been easier to become a billionaire in America and never been harder to become a millionaire. According to Scott, a millennial born in 1984, who’d be 37, only has a 50% chance of doing better economically than their parents. Scott highlights the erosion of the middle class in the U.S. and what it means for the country's social fabric.
Scott pointed out how broke and lonely males are the most dangerous cohort. He also detailed how the rise of dating apps — an ecosystem that would have greater inequality than Venezuela — has hindered relationship formation.
Elsewhere, Scott broke down how universities and colleges have become luxury brands. As Scott put it, this rejectionist luxury positioning at universities is the “most un-American thing.” He argued that we could easily expand freshman seats.
Scott also shared his thoughts on Twitter and its new owner Elon Musk, which he describes as a “train wreck you can’t look away from.” He also shared his take on TikTok and his issue with its ownership.
0:00 Intro
0:43 Never been easier to be a billionaire in America
1:48 More business school students will be dependent on their parents
2:40 Millennials have it worse off than their parents
4:50 Consequences of an eroding middle class
6:30 Age inequality
8:30 What Social Security should look like now
11:00 The greediest generation in the world
12:10 Creating anger and volatility among younger people
15:00 Broke and lonely males are the most dangerous cohort
17:30 Need a leveling up for young males
20:45 Solution is viable young men
22:08 Need to double number of freshman seats at universities
24:00 Leveling up young men is not zero-sum or misogynistic
27:23 How dating apps make it difficult to find a partner
30:00 Dating app economy would have greater inequality than Venezuela
32:28 Need to invest in third spaces
34:13 Universities have become luxury brands
38:22 Rejectionist luxury universities are un-American
40:18 Student debt forgiveness was terrible
46:02 UNC is a gift, literally like a pharmaceutical
48:39 Thoughts on Twitter/ Elon Musk
54:30 Thoughts on the power of TikTok