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hello and welcome Ted members it's very very very very good to see you I'm the head of Ted Chris Anderson I'm a Ted head apparently and uh really excited to be here with you we're actually doing something we haven't done before we are going to watch together a Smash Hit Ted Talk in the presence of the man who gave that talk Scott Galloway I'm going to introduce to you in a minute um while we're watching that talk you can comment away ask questions talk with each other disagree amplify laugh whatever strikes you as the right thing to do and um when the Talk's over we'll be putting questions to Scott and um seeing how he can possibly defend the outrageous claims that he makes in this talk this talk is a very big deal he's outlining a giant problem making some big bold Solutions on what we might do about it it's a big wow and it's it's been seen by millions of people already um but we want to dig deeper into these questions and there couldn't be a better group of people to do it than you so thank you for being part of this um you are awesome um I think let's see yeah you could there's a live transcript to this event if you need it by clicking on the captions option um so I think that's it um so I would like to welcome the how do we describe Scott Galloway well I mean he's a professor at NYU business professor he's the host of an ungodly number of podcasts incredibly successful he does all kinds of things he's been a successful entrepreneur and general troublemaker and it's a delight to welcome Scott Galloway here Scott Hello nice to have you it's good to be with you Chris thanks for thanks for having me and hello to all uh Ted acolytes and members Al righty so I don't know if you've ever done this either I I I would whether it would be at all uncomfortable to watch yourself in full Glory giving uh giving this talk that was so well received but let's try it let us roll this video without further Ado my name is Scott Gallow I teach NYU and I appreciate your time I have 44 slides and 720 seconds let's light this candle okay so for those of you who don't know me I'm actually a global television store true story I've had four TV series in the last three years two of them have been canceled before they were launched and two were canceled within 6 weeks let's recap if we want to juices sing if we want to put a cattle Pro up the ass of the economy Bloomberg the most trusted name in financial news not for long I'm going to do whatever I can for this country of ours Jesus Christ Jes come on dude you're Ed for two are you are you uh face for podcasting so first Insight of the day I'd like to be the first person to welcome you to the last test okay by the way it's clear the what's it called what are we here for the Brave and the brilliant it's clear that Chris is a frustrated soap opera producer uh essentially what we have here is a telen Nolla where after a night of unbridled passion between Bill Gates and Malcolm Gladwell they give birth to their bastard lovech child Simon cynic okay I start us with a question do we love our children sounds like an illegitimate question right well I'm going to try and convince you otherwise essentially as we go down Generations we're seeing that for the last two generations people are making less money on an inflation adjusted basis in addition the cost of buying a home the cost of pursuing education continues to Skyrocket so the purchasing power the prosperity is inversely correlated uh uh to age simply put as we get younger we're taking away opportunity and prosperity from our youngest the social contract that is now no longer in place and for the first time in the US's history a 30-year-old is no longer doing as well is that his or her parents were at 30 this is a breakdown in the fundamental agreement we have with any society and it creates rage and shame as a result people over the age of 55 feel pretty good about America but less than one in five people under the age of 34 feel very good about America this creates an incendiary righteous movements cuts to our society end up becoming opportunistic infections because generally speaking young people have a warranted Envy they're pissed off and they're angry that they don't enjoy the same spoils and prosperity that were provided to our generation a decent proxy for how much we value youth's labor is minimum wage and we've kept it purposely pretty low if it had just kept paac with productivity it'd be about 23 bucks a share but we've decided to purposfully keep it low Out Of Reach median home price has skyrocketed relative to median household income as a result pre pandemic the average mortgage payment was $1,100 it's now $2,300 because of an acceleration in interest rates and the fact that the average home has gone from 290,000 to 420 by the way the most expensive homes in the world based on this metric our number three Vancouver why because 60% of the cost of building a home goes to permits cuz guess what the incumbents and own assets have weaponized government to make it very difficult for new entrance to ever get their own assets thereby elevating their own net worth this is the transfer I'm going to be speaking about this has resulted in an enormous transfer of wealth where people over the age of 70 used to control 19% of household income versus people under the age of 40 used to control 12 their wealth has been cut in half this isn't by accident it's purposeful this is me at UCLA in 1987 I know your first thought is I haven't changed a bit this is also Mia sario who is the analyst that put together these slides by the way Mia is 26 I did the math just by virtue of her being in this audience it brings the average age of the entire conference down 11 days when I applied to UCLA the admissions rate was 76% today it's 9% I received a 2.23 GPA from UCLA I learned nothing but how to make bongs out of household items in every line from planet to the Apes and the greatest Public School in the world Berkeley decided to let me in with a two 2.27 GPA and that's what highered is about highered is about taking unremarkable kids and giving them shot of being remarkable and every year it's gotten more expensive higher ed and homes and the ability not only is higher ed incredibly expensive it's not accessible because me and my colleagues are drunk on luxury and I'll come back to that we've embraced the ultimate strategy me and my colleagues in HED wake up every morning and ask ourselves the same question when we look in the mirror how can I increase my compensation while reducing my accountability and we have found the ultimate strategy it's called an lvmh strategy where we artificially constrain Supply to create aspiration and scarcity such that we can raise tuition faster than inflation and old people and wealthy people have some done the same thing with housing all of a sudden once you own a home you become very concerned with traffic and you make sure that there's no new housing permits and here is a memo to my uh colleagues in higher ed we're public servants not [ __ ] Chanel backs Harvard is the best example of this they've increased their Endowment in the last 40 years and have decided to expand their enrollment their Freshman Class by 4% any University that doesn't grow their Freshman Class faster than population that has over a billion dollars in endowment should lose their taxfree status because they're no longer in higher education hedge fund offering classes my first recommendation Biden should take some of that 750 billion earmark to bail out the one-third of people that got to go to college on the backs of the two-thirds that didn't and give a billion dollars to our 500 Greatest public institution size adjusted in exchange for three things one they use technology and scale to reduce tuition by 2% a year expand enrollments by 6% a year and increase the number vocational certifications and non-traditional 4year degrees by 20% where does that get us in just 10 years in just 10 years that doubles The Freshman seats and cuts the cost in half this isn't radical this is called College in the 80s and 90s another transfer of wealth look at what's happened to wages oh they've gone up not as much as corporate profits there's a healthy tension between capital and labor for the last 40 years Capital has been kicking the [ __ ] out of Labor well you think well what about wages right they they've gone up well if you compare them to the SNP they barely register it's been an amazing time to own assets but your attempt to get the certification or the income such you can acquire assets has gotten harder and harder in my class with 300 kids it's never been easier to be a billionaire it's never been Harder To Be A Millionaire by the way our job in higher ed isn't to identify a top 1% of people who are freakishly remarkable or have Rich parents and turn them into a super class of billionaires is to give the bottom 90 a chance to be in the top 10 you you know you know who doesn't need me or higher education the top 10% the whole point of higher ed is to give the unremarkable I years truly who was raised by a single immigrant mother a shot of being remarkable the transfer has been purposeful while the cohorts corporations and the ultra wealthy continue to Garner more and more of our wealth we have decided I know if they win the gold let's give them the silver and the bronze and let's lower their taxes this trans transfer is purposeful it's not by accident and it works senior poverty is way down and we should celebrate that meanwhile child poverty is flat to up the third rail I'm going to talk about social security it would cost 11 billion to expand the child tax credit but that gots stripped out of the infrastructure bill but the additional $135 billion a year it's a social security that flies right through Congress and every year we transfer $1.4 trillion from a cohort that is increasing in inly doing less well to the cohort that is the wealthiest cohort in the history of this planet I'm not against Social Security but the criteria should be if you need it not whether you have a catheter 80% of you 80% of you have absolutely no reason to ever take Social Security it is bankrupting our nation and we have fallen under this mythology that somehow it's this great social program no it's not it's the great transfer of wealth from young to old how is this happening because our representatives are in fact representative old people vote Washington has become a cross between the Land of the Dead And The Golden Girls quite frankly this is [ __ ] ridiculous and if I sound aist if I sound aist I am and you know who else is aist biology when speaker Pelosi had her first child get this two-thirds of households didn't have color televisions and Castro had just declared martial law but she's supposed to understand the challenges of a 17-year-old girl who's 59 95 PBS getting tips on dieting and extreme dieting from Facebook she's supposed to understand the challenges that a 27-year-old single mother face by the way young and dreamy young and dreamy the Great intergenerational Theft took place under the opes of a virus I know let's use the greatest Health crisis in the century to really speedball the transfer this is the NASDAQ from 2008 to 2002 we let the markets crash and by the way you need churn you need disruption because it seeds and recalibrates advantage and wealth from the incumbents to the entrance it's a natural part of the cycle but wait lately no a million people would dying would be bad but what would be tragic is if we let the NASDAQ go down and guys like me lost wealth so we pumped the economy which again increased the massive transfer of wealth the best two years of my life covid more time with my kids more time with Netflix and my value of my stocks absolutely exploded and who has to pay for my Prosperity not me future Generations who will have to deal with an unprecedented level of debt why am I here and why do get the prosperity I enjoy because in 2008 we bailed out the banks but we didn't bail out the economy we let the markets fall so as I was coming into my Prime income earning years I got to buy no joke these stocks at these prices this is where those stocks are now where does a young person find disruption when you bail out the baby boomer owner of a restaurant all you're doing is robbing opportunity from the 26y old graduate of a Culinary Academy that wants her shot we need disruption [Applause] I just like this slide it has no context or [Applause] relevance we're economically attacking young but I know let's attack their emotional and mental well-being let's take advantage of the fact of the flaws in our species with medieval institutions Paleolithic instincts and Godlike technology I'm just going to say I think Mark Zuckerberg has done more damage to young people in our nation while making more money than any person in has oh but wait what would could be worse it's as if we let an adversary implant a neural Jack into our youth to raise a generation of Civic military and Business Leaders that hate America how can we be this stupid all right this all adds up to a bunch of graphs all headed up into the right and what are they what's the first one oh that's self harm rates which have exploded especially among girls since my colleague Jonathan hey pointed out it's really really gone crazy since social went on mobile what's the next one teens with depression the next one men and women not having sex biggest fear of my parents was that I was going to get into too much trouble my biggest fear honestly is that my kids aren't going to get into enough trouble by the way my advice to every young person watching this program is go out drink more and make a series of bad decisions and might pay off next graph can you middle of gun deaths you're more likely to be shot in the United States if you're a toddler or an infant than a cop next graph obesity way up by the way the industrial food complex wants to addict you to shitty fatty food so they can hand you over to the industrial diabetes complex we should not romanticize obesity you're not finding your [ __ ] truth you're finding diabetes W overdose deaths way up deaths of Despair when I was in high school it was drunk driving now it's kids killing themselves young people don't want to have kids anymore two-thirds of people aged 30 to 34 able-bodied used to decide to have at least one child it's been cut in half it's now less than a third 27% as a result people over the age of 60 in the US pretty happy people under the age of 30 not so much some are the lowest in the Free World what can we do nothing wrong with America that can't be fixed with what's right with it we got the heart stuff figured out there are programs to address all of these issues that cost a lot of money that's the hard part and we have figured this out in just 5 minutes post an earnings call we can add a quarter of a trillion dollars to the economy we've got the hard part figured out the resources we have the money but we decide not to do it this is per capita spending on child care in the United States relative to other nations this is housing permits things are doable we increase minimum wage of 25 bucks an hour it goes into the economy the wonderful things about about low and middle- income households is they spend all their money we have to have a restore a progressive tax structure with alternative minimum tax on corporations and Wealthy individuals we need to refund the IRS we need to reform Social Security it should be based on whether you need the money not on how old you are we need a negative income tax my friend Andrew Yang screwed up a great idea but he branded it incorrectly instead of calling it Ubi he should got Republicans on board by calling it a negative income tax we need to eliminate the capital gain tax deduction why when did we decide that the money that Capital earns is more noble than the money that sweat earns shouldn't it be flipped we need to remove 230 protection for all algorithmically elevated content we need identity verification the reason we can have identity verification is because we have a First Amendment break up big teac we have monopolies that are incurring greater and greater costs on every small business and parents because again see above our Representatives don't understand these Technologies we need to ageg gate social media there's absolutely no reason anyone under the age of 16 should ever be on social media we need Universal prek we need to reinstate the expanded child tax credit we need term limits see above Andrew Yang we need income based affirmative action any visible signs of affirmative action make no sense at all you would rather be born gay or non-white in the United States today than poor and that's a sign of our progress and our need to recalibrate who we give advantage to affirmative action of which I'm a beneficiary uh I was I got pel grants I got unfair Advantage affirmative action is a wonderful thing and it should be based on color it should be based on green how much money you have or don't have expand College enrollment and Vocational programs mental health band phones in schools invest in third places big brothers and sisters programs we need national service we need to tell people in the United States and Canada that they live in the greatest countries in the world and we need to remind that them of that every day by exposing them to other great Americans where they feel connected tissue we can do all of this we can do all of it we have the resources the question is do we have the will this is my last slide it is an emotionally manipulative slide to try and get you to like me more but it does have a message this is the whole shooting match anybody here without kids ask someone with kids you have your world of work you have your world of friends you have your world of kids something happens here your whole world Chang shrinks to this so I present as I wrap here which is a few questions one if you acknowledge that our kids are the most important thing in our lives that everything else we do here is Meaningful but our kids well-being and prosperity is profound if you acknowledge that they're doing more poorly than previous generations if you believe there's a chance that the illusion of complexity has done nothing to provide cloud cover for the unbelievable transfer of goodwi of well-being and of prosperity from young to old and if you believe we can actually fix these problems and we have the resources then I present to you I pait I augur the question that I hope has more veracity than it did 17 minutes and 24 seconds ago and that's the following question do we love our children my name is Scott Gallow I teach NYU and I appreciate your time thank you uh we cut off the standing oh that was a long long standing hour it was as long as I was at Ted this year Scott um an amazing talk honestly I I'm I want to ask you a bit about almost just the actual your style of speaking because I think it's it's remarkable but I'm going to start here just this thing's been seen by five plus million people around the world already and and growing it's the biggest single hit coming out of the last head I'm curious what feedback you've had from it I mean you were pretty you laid out some pretty Savage criticisms of a lot of people there have some of them come back hard at you have you mainly been Amplified and cheered on and it give us a sense of the feedback on this uh first off thanks for having me Chris and thanks for creating such a powerful platform to let people like me um have this type of opportunity uh 97 98 plus percent has been exceptionally positive um not yesterday but the day before yesterday I was on a zoom call where I spoke after speaker Pelosi and before senators blumthal and um uh Blackburn and talking specifically about my recommendations around big Tech I don't know if I'll be invited back because I did not hold back um uh but it's been you know I'll let me talk about it's been overwhelmingly positive it's been everything from um billionaires reaching out and saying I have a a philanthropy and I'd like your help allocating some of our our resources to someone sent me a screenshot of an account with $10 million in it and said it's yours if you run for president in 2028 uh to which I responded I have no interest in that but I really enjoy spending the weekend in Vegas with you um uh it's been really positive so the points of push back that I think are interesting and I want to be clear I get it wrong all the time I you know I like to think that some or even most of this is directionally correct but what I know for certain is some of it is wrong I got pushed back around Social Security uh from representatives from Seniors that this is the most successful social program in the world and that uh I shouldn't be demonizing old people for taking out something they've already contributed to uh I've got push back for uh fat shaming um so I've gotten you know points of push back but I think that's important I think that if you're going to make provocative statements you need to be subject to push back and I would say that my goal is not to be right it's to catalyze a conversation such that we can craft better Solutions and the thing that's been really rewarding about this dialogue is that when people send me very long emails including from Congress and the Senate and people who run companies and nonprofits the dialogue has been very civil and I would say that the thing that I really enjoy so you know are recognized about the Ted Community is I'm in a variety of different communities whether it's Tik Tock or whether it's a different conferences where I say these things and the dialogue this has inspired has been remarkably more civil it's been more you know I like this I didn't like this and I but I really appreciate that the medium is the message you know people are more civil on LinkedIn than they are on Twitter and I have found so far people are much more civil on Ted than other platforms well um that's nice to hear um we definitely though don't want people to hold back and I I know that in the comments there there are some people who' pushed back on specific aspects of of the talk but which of the various proposals and things that we could actually do about this problem do you think have most chance of actually moving forward because it's I mean it's so wide ranging you know it's like it's it's very hard for young people to get to college now hard to get uh uh a house um and and then all you know all the way up to Social Security and so forth where where do you think there's most traction Scott something that might actually shift I think there's already a movement underway to expand freshman class at Elite colleges to invest more in vocational programs um to reverse this Vibe or Gestalt of hire Ed as a luxury brand and return it to being a public servant I think that movement was already underway and it feels like there's a lot of momentum there and some of the stats have really freaked people out there's 10 to one MIT employees for every person who teaches so I've heard from the the president of ASU saying and the presidents of Purdue saying come here and they've been circulating my talk and raising money around the fact that they are not they have not embraced this this strategy I think we're seeing I've heard from quite a few people in the budget office and Congress people talking about uh things including eliminating capital gains tax or just having one income tax similar to what we had under Reagan instead of favoring the income the capital earns or wealthier people versus current income uh I have heard a decent amount around uh the idea of just general General speaking um tax reform how do we put more money in young people's pockets and then from what I'll call the retail media whether it's morning Joe or the view which I've been on since this talk it's we need to change the narrative and stop criticizing young people and saying that their depression their anxiety their obesity is a function of their entitlement and not a function of public policy that people of my age have implemented that okay maybe there is some truth to some of their disappointment so that let me before we go into the other details on it let me pick up that specific point because there is I'm sure that some people watching this maybe probably older people would say are you sure it's really this intentional thing as opposed to a consequence of just cultural cycle so there's this quote um that you all know by U Michael KN that you know hard times create strong men strong men create Good Times times good times create weak men weak men create hard times that there's there's an argument that we've been through so much Prosperity um that you know baby boomers ra raised you know a generation of kids who just grew up too comfortable and uh and that that is where part of the problem is you you are you are halfly arguing with a different case what is is there any truth to that argument I think in almost every generation before ours alcol genx and Baby Boomers there was a concerted effort to elect people who would think longterm and make forward leaning Investments if you think about Apple Google Nvidia all of these companies modna that have added trillions of dollars in market cap it's really their they build a thick layer of innovation on top of Investments that have been made by the most successful venture capitalist in history and that's the US government with its limited part Partners its investors the middle class and that there's a lack of that forward-leaning investment um the B basically the only thing that passes for bipartisan cooperation now is reckless spending Republicans want more military spending and lower taxes Democrats want more social spending and you know and higher taxes and they agree on Lower taxes and more spending so I does feel like we are being irresponsible even Reckless the way I Loosely describe it is $7 trillion do in government spending which juices the economy 5 trillion in receipts I'm in the club parying with champagne and cocaine and the closest the young people get to the club is they can throw their credit card at me from downstairs and I'll rack up more debt on their back so I can continue this Prosperity even the markets right now we don't want to talk about this the markets are being supported right now by an additional $2 trillion dollar in stimulus every year in the form of government spending that's beyond our revenues in past Generations unless it was wartime never would have engaged or supported that type of government spending uh so I I I do think think there's something different here I think the financialization of everything Chris where as they said in Jerry Maguire more money used to be a bigger seat now in business class now it's a better life and the fact that we haven't faced really an any external threats to Rally us together to create more comedy of man or more patriotism there just seems to be not the same sense of selflessness or investment mindset there's been with past Generations I mean one of the most powerful aspects of the talking there were so many powerful aspects was you're JS to position of different stats so Harvard this explosive growth in in the endowment and you know no more students being admitted I you immediately know when you just put those numbers together that there's something very very wrong with that picture so powerful I thought your your line about just showing you know minimum wage has just not remotely caught up with the way at which capital is growing and I I wonder whether one you know there's almost like some political ideas that we could push out there that said things like that a society is not operating justly if the rate its minimum wage rate is growing slower than the rate at which capital is appreciating it shouldn't be linked to inflation or even wages it should be linked to the rate at which capital is appreciating in the you know in in that Society otherwise inequality is absolutely bound to increase um and I'm I'm I'm curious which others of those have landed like with social security for example um I understand why people have pushed back have you do you see any workable kind of Middle Ground here where you could say look Social Security is important we're not going to take the whole thing away but we have to make it more just we can't have it sucking more and more of the next generation's time and like what is the right metric to think about how much Social Security could be trimmed to be to the generation coming through that feels like one of the biggest numbers right so I've had a bunch of calls with people different people in Congress and different packs about social security so uh means testing and moving the age back right the majority of people just even 100 years ago didn't participate in Social Security because they were dead by that time now they're living 20 and 30 years beyond that people will say well I invested in it I want it back I'd say first it's called a tax not a pension fund meaning that it might be distributed other people two people who live to be 85 take out two to three times more than they put in uh so I think I I'm not saying we should do away with it I'm just saying if somebody it should be means tested the agid should be pushed back to reflect that people are working much longer also just Basics um uh my the person who put together the slides Mia makes $160,000 a year and I'm allowed to say that with her permission she's 26 very talented young woman she pays $9,000 a year or six % in Social Security this year I'll make a hundred times that and I'll pay wait for it $99,000 in Social Security income tax it's capped for anyone making over $160,000 so if this generation is the wealthiest generation in history why have we decided to cap social security for rich people so I don't I don't have a problem with stimulus I don't have a problem with social programs but Social Security is another example yet again of we are really taxing 6% is a real number for young people their whole life but it's been di Minimus for me because I'm old and Wealthy so it's another example of how this transfer under the cover of dark that wealthy people are in there saying we position this tax is onerous but we're going to cap it like it's a good thing at 6% why is Jeff Bezos not paying 6% of his income into uh Social Security it's an off-balance sheet item it doesn't impact the deficit it's funded every year but right now 40% of all government spending is allocated for programs that go to seniors it's about to be 50% in 10 years at this rate which means that crowds out Investments and forward-leaning Investments such as education and technology and we also just need to acknowledge in this sounds agist and it is old people are less productive and more expensive and so unless we figure out a way to to acknowledge that they spend a longer period of their lives being expensive and unproductive our economy is basically just going to be an engine to kind of support the most expensive Nursing Home in the world this is happening in Japan it's happening in Italy and it takes an economy into decline because you can't make forward-leaning investments that discour that encourage wealth or Inspire wealth for young people and they don't have uh they don't have kids in terms of minimum wage this is an easy one I I've been positioned as anti-un I'm not there should be one Union it should be in DC and it should be federally mandated minimum wage 25 bucks an hour except in certain areas where there's an exceptionally low cost of living and people will start this the incumbents in corporations will start this [ __ ] Narrative of it'll kill the economy no it won't in Washington state and California where they raise minimum wage the economy actually grew because the wonderful thing about low and middle- income people is they spend all of their money meaning the multiplier effect is greater if it had just kept paced with productivity and inflation be 23 bucks that's an easy one mandatory federally mandated 25 bucks an hour would McDonald and Walmart stock take a huge hit sure with a bunch of small businesses go out of business yes and it'd be worth it so as you say you don't hold back and there were definitely a few things in the talk that that um provoked comment so um Kyra GA I see in the chat found your comment about di diabetes a bit smug um she says there are epigenetics to consider it's complicated for members of marginalized groups and you say you've heard from other people on that is do you want to clarify your your your view on that at all it's a fair feedback as someone who was born to parents who are both tall and thin so easy for you to say Scott what I have said in the past and I'll you know if I sound offensive I apologize is I believe that we need bottom line to put more money in the pockets of lower income people such that they can eat better I think we need to tax the food industrial complex relative to its externalities uh obesity morbid obesity has gone from 5 to 9% in the last 30 years uh obesity gone from I believe it's gone from 30 to 45% uh the only thing that Americans really share is that 70% of us are overweight or obese and if you look at McDonald's craft General Foods PepsiCo Coca-Cola they're not companies as much as they are obesity indices and their stocks have gone up 10 to 12x as obesity has gone up and if you give those two their stocks and obesity rates to a statistician they will tell you they are highly correlated so as a result because there's money in the diabetes industrial complex we have Unilever celebrating obese women we have people saying you're finding your truth and this is from the same company that sells Ben and Jerry as an AXS which basically encourages young men to [ __ ] anything so the notion that they are concerned about uh or trying to liberate people or all of these apparel companies saying that you're finding your truth I want to go back to the 60s where Kennedy said it was American and patriotic to be in great shape I used to to train every year for the Presidential Fitness Awards and that was seen as fat shaming so they did away with it I don't think there's anything wrong with celebrating Fitness but also at the same time recognizing some people are dealt a difficult hand genetically in providing them with money and resources so they can get out of food deserts I also believe glp1 drugs are the most impressive technology of the last year not Ai and we should be pushing them into low-income communities I think they're an absolute Game Changer right now here's a crazy stat the region of America that has the greatest penetration of glp1 prescriptions is also the thinnest it's the Upper East Side because right now glp1 drugs are being used for ladies of lunch who want to lose that last 10 pounds I hope that more and more of it is imported illegally across the border where it's a 100 bucks a month versus a thousand and it gets to the people who really need it which is low-income people who don't have the money for diabetes because the industrial food complex wants you to be obese so they can hand you over to the medical industrial complex of hip replacements kidney dialysis knee Replacements heart stance that's an enormous industry I want to put Coca-Cola craft uh McDonald's and some of these Hospital Systems absolutely out of business there's too much incentive to convince you that being obese is some sort of personal Liberation it's not so this is so interesting like somehow and I I feel this for Ted as well we have to figure out how to have conversations about difficult topics that are respectful of people and and you know everyone's as you say has been dealt a different hand but that don't ignore the basic facts of of health or of Science and and that that is what it's so hard to do in the current environment right now we've all got frightened I think of of saying the kind of thing that you just said and there probably are still I don't know K how you felt about what he replied there but I I I feel like we need to do both you know we we we need to be provocative and also respectful and I I heard that in you so I think that's that's cool um and then again actually um not to pick on car she also I noticed that she pushed back on your um point about social media that you know one of the fixes is to get is to get uh our younger kids off off social media points out and I I've felt this reading John Height's work myself that that those communities that people connect with on social media sometimes are incredibly beneficial so you think of the the the the kid who's queer or is struggling with something and doesn't find anyone in their Community who they can connect with finds a community online I mean there's presumably some some benefit in that is that is there any way of making recommendations where there aren't swings and roundabouts there aren't you know sort of downsides to what we recommend uh look one in five lgbtq high schoolers is going to try and kill themselves so I'm I'm involved with the Jed Foundation that works with high schools to try and identify or distinguish between kind of what is normal abnormal team behavior and suicidal ideation and because we have a really we do have an epidemic of self harm at a teen level and there's just no getting around it some trans and gay kids and other kids from special interest groups find other people like them on social media I guess the question would be if something if if banning social media under the age of 16 or ageg gating it on the whole were demonstrated to be an absolute huge net positive because I think a lot of those communities are actually the subjects of incredible bullying and shaming online and are more prone to go down a rabbit hole of depression and end up in self harm that are the are there other programs that could could could replace that incredible Community some of them have found but I look when you make huge government decisions there is no decision where there's not going to be losers I mean the the the the special interest group kid who finds people online and for at 14 when age social media is ageg gated yeah that person that person suffers I guess the argument I would make is that if you were to look at any study about the general impact it's having on people under the age of 16 the benefits dramatically outweigh the the the soft tissue here so the question is could we do it but at the same time recognize we still have an enormous self harm problem among kids especially in the LBGTQ community and move in with other programs or other analog means of helping them find other uh other people but I want to acknowledge there's just nothing I recommend that doesn't have a downside so some people are asking about practical things we can do so Adrian neau said as an elementary school teacher what's your advice for helping uh gen ala students I don't want my students to grow up having such apathy towards learning and being successful I definitely don't want my students highest aspirations to be Tik Tock influencers how do I help how do I help them well the first thing is uh we I I just I think this is an easy one I think I don't think there's any reason for anyone under the age of 16 to be on social media I think we need a massive investment I think we need to tax every person in a private school and use that uh Capital to invest in after school programs in third places um I went to Public Schools all the way through graduate school I went back to my uh uh my high school University High School and 93% are kids of color it's got the unfortunate designation of having the greatest proportion of kids who are classified as homeless in LAUSD and they just cut their their drill team they just cut their band uh their drum their drum line because they don't have money I I just think so much of this Chris unfortunately it's like households with a lot of anxiety it sounds very crft but I think a lot of it a lot of problems are solved with money show me divorce and I'm usually going to show you some sort of economic stress or poor alignment around economics and when you can add a quarter of a trillion dollars in five minutes post the earning call of Nvidia and at the same time you see corporations are paying their lowest taxes since 1939 and the top 25 wealthiest Americans are paying a tax rate of 6% and five companies have added the value of the of the entire Global Auto industry in the last six weeks we have the resources so I think a lot of this comes down to funding giving kids more third places such that they're not staring at their phones and also demanding that parents and demanding that entire school systems Go Phone free and that there's no social media and on a more tactical level I absolutely think we need to ban or divest Tik Tok I think it makes absolutely no sense to be raising a generation of Civic military and nonprofit leaders who hate America and it's all wrapped in cute dances I just think it's insane that we would be this stupid one of the wonderful things about America is our optimism but one of the downsides of that is we're much easier to fool than convinced we've been fooled I think every day we're being fooled by Tik Tok I think this is a the most unbelievable propaganda tool in history unfortunately it's not ours you mentioned Nvidia there which has exploded in value in the last couple years last year really isn't that to some extent a counterargument to your earlier comment about you had this unique opportunity to buy these cheap stocks like Netflix and Amazon at low prices I mean there are always has the market fundamentally changed there aren't that kind of opportunity for smart people to identify Trends and and get the same kind of wealth was it just was it just a timing thing no what we've decided is we want capitalism on the way up we want low taxes and the the the Pioneer the the individual who earned the money and should pay a low tax rate because he or she is the most productive citizen and on the way down when there's a virus or some exogenous event which happened a lot whether it's War famine Revolution or a virus uh the CEO of Delta says we're all in this together and want some massive bailout despite the fact that 80% of the free cash flow of Airlines the 10 years before were either used on dividend or stock BuyBacks or Co compensation that juice their compensation and yet so look capitalism on the way up and socialism on the way down is cronyism and we've gone full cronius in the United States and I understand the the rationale for pumping the economy full of because I said we needed to overdo it versus underdo it but then no one suggested a special tax for the unbelievable champagne and cocaine disco party we've had in the markets markets are touching all times highs right now in the myth that my generation is fed across the economy the young people take hookline and sinker is the following there are two phases of everyone's life there's investing and then there's the harvesting phase investing is when you do your best to make more than you spend and save some money so you can deploy an army of C Capital that grows in your sleep such that you can have some security and some balance as you get older and You Begin harvesting I'm entering the harvesting stage of my life where I'm no longer making as much as I spend during the investment part of your life when you're younger years you want markets to crash you want real estate that's inexpensive you want a dollar cost average in at the low the reason I get to roll with you in London and I get to go to the south of France tomorrow Chris is because we let the markets crash in ' 08 and I got to buy Netflix at 12 bucks which is at 650 now what we've decided now purposefully is that we aren't going to let the markets have a natural cycle of disruption that anytime the markets are threatened we're going to weigh in with the credit card of our young friends of our young of our daughters and our Suns and we're going to artificially inflate and support the markets that is nothing but a transfer of wealth you need disruption you need churn these are purposeful decisions to protect old on the credit card of the young I don't have a problem with stimulus but for God's sakes those of us who have benefited from it should pay it back so there's a great question here from Brett mcco um so during this talk there are an overwhelming number of points that are all delivered in an easy to understand way um that's true by the way it's really really I don't know of a talk where there's been such density of um points of facts that connect uh really remarkable anyway he says it leaves me charged with the desire to join quote the movement and make change it's almost like a full semester worth of issues that could be movements but there isn't an explicit Community or movement to join Scott where would you suggest the starting place for someone who becomes inspired by your talk it's hard to do this without being political but try and find Congress people or get involved in um campaigns of people who are one talking about the deficit talking about the war on young people having difficult conversations um I mean there's some very Basics and the speaker before me Andrew Yang final five in rank Choice voting people who are going to be moderates who are going to think long term about Society I think we need absolutely more young people in Congress um so I would say political action just being engaged and then on a ground level getting involved with local schools getting involved in Charities and efforts to help young people in special interest groups uh find third places find places to find each other I think all of this is somewhat couched in young people in an epidemic of loneliness so anything anything you can do to create resources and opportunities for young people to get out of the house I think it's up to parents to get their kids off I mean there's just I think it's not what to do it's what not to do in terms of a political movement I'm still waiting for a leader to come forward and say I'm going to piss off everybody old people you're going to hate me um unions you're going to hate me uh rich people you're going to hate me we need you know what we need we need the biggest class Trader in history someone who shows up and says are we going to are we going to decrease government spending or are we going to raise taxes and the answer is yes it's time to start acting like adults and paying it back to some of the incredible Americans who have made sacrifices such that we can enjoy this Prosperity I haven't seen that person yet but politicians assume that that's an unelectable slate um and maybe they're underestimating intelligence of of their citizens I think people are ready do you know one of the top three issues among young people is right now people think it's Middle East it's not that's like number 17 because of the zombie apocalypse of useful idiots on campuses that has been highlighted in media in Tik Tok to give you the sense that every student is protesting 2,300 arrests 40 weren't students I'm at NYU 99.9% of the kids are just getting their [ __ ] done the new president undergraduate president of Columbia is an Israeli girl what what you know we need anyways one of the top top issues for young people one of the top three the deficit so I just think we need a we need a pragmatist who says I am not going to ever insult anyone on the other side of the aisle personally to get on Tik Tock and raise money I'm going to talk about really boring [ __ ] tax policy the deficit teen depression OB obesity and I'm going to make big sweeping changes and guess what all of you are going to suffer all of you because there's just no getting around it we need we need to make a fraction of the sacrifices that a lot of Americans made 80 years ago I don't know about you I was very moved by the D-Day commemorate commemorations but every generation up until this one has made real sacrifice for forward for for Generations except this one so we need to catch up I think people are ready for that so you you've spent a lot of time giving advice especially for young men do you think that the problem is has been especially bad for them for some reason or that a a disproportionate share of the solution will be found by fixing the problems that young men are facing right now well all of these things are especially acute so with a young man and this is really this is the thing this is my passion project four times as likely to kill themselves three times as likely to be addicted 12 times as likely to be incarcerated it it is there has been no group globally that's ascended faster than women more women globally are pursuing tertiary uh education which is remarkable when you think about many nations don't allow women to pursue tertiary education and twice as many women have been elected to Parliament um uh over the last 30 years around the N around the world now domestically in the US there has never been a cohort cohort that has fallen further faster than young men more women single women own homes now than single men which is fantastic in urban areas women are out earning men these things are wonderful we don't have a homeless crisis we have a male homeless crisis we don't have an opioid addiction crisis we have a male opioid addiction crisis and unfortunately something that gets in the way of programs Chris is that because of the benefit the massive benefit privilege and advantage that you and you and I receiv received we hold these these young men accountable we talk we use words like accountability or pull yourself up by your bootstraps if any special interest group was killing themselves at four times the rate of the control group we'd move in with programs and I think there just generally needs to be a change in the narrative and the dialogue and we need to recognize that empathy isn't a zero some game game marriage didn't hurt heteronormative marriage civil rights didn't hurt white people and recognizing the problems that young men especially are facing one and three men under the age of 30 hasn't had sex in the last year 3 million working age men have given up looking for work 50% of millennial men are no longer even trying to date and so you have this cohort that is doing so poorly and if we don't have a vibrant middle class full of successful economically and emotionally viable men the nation is going to collapse because here's the thing about women we don't want to have an open and honest conversation about mating and this is the following women mate socioeconomically horizontally and up men horizontally and down and when the pool of Men available horizontally and up keep shrinking we're going to have a lack of household formation 60% of people aged 30 to 34 40 years ago had at least one child now it's 27% the whole shooting match the whole shooting match why we engage in all this [ __ ] is so we can find someone we love and raise kids together that is the most rewarding thing everything else is a means that's the ends and when a nation is failing to do that and just creating a generation of anxious obese and depressed kids who don't like themselves much less have the opportunity to like other people and get together and start having sex and fall in love and have kids and have economic Prosperity then what the [ __ ] is any of this for so I think this is a call for all handson deck if young people and especially young men aren't doing well then we are not going to have a functioning Nation or economy full stop and it's time to put the politically correct agenda away and say well you're being sexist yeah I'm sexist I believe the genders are different if you don't believe me put a three-year-old girl and a three-year-old boy in a room with cars and dolls and see what happens that doesn't mean we reduce empathy for either gender but we can't even have an honest conversation about this stuff because someone sees an opportunity to Virtue signal and get a guardians of Goa pin rather than actually addressing the [ __ ] problem that was a rant but I will say that you rant better than anyone I know I mean I really just as a someone who's hosted a lot of TED Talks I was stunned by how this one went like many many speaker coaches looking at you would say oh it's very monotone it's very you know where where's the you know you just sort of it just unwraps in a very sort of flat voice initially but every word is so carefully Chosen and follows so consequentially to what's just gone before that you tap into a different part of people's brains than most talks do I think like you people go yes know that makes sense that makes sense that makes sense and then it builds and then your anger and frustration starts to come out and get DED up it's it's absolutely remarkable rhetoric um I I don't know how you learned it or where you got it from um but it's it's really unique out there I would say and I I think it's it's a super powerful weapon and I'm I mean I don't have people listening agree with this like this is a really unusual and a really I mean it's not like every will agree with every single word scottt that you said but it's it's a it's a really unusual and Powerful piece of rhetoric about something that really matters and for that I feel I think we all feel huge gratitude to you and and wish you well on this this continued journey I mean that it just that just isn't uh a more important issue um so Bravo to you thank you Chris I appreciate the generous words and what I told my wife is that after 30 years of working my ass off I'm an over overnight success because of Chris Anderson and Ted so thank you you had visibility everywhere and you and you do it's amazing how much you you uh you're out there your voice is out there if people haven't don't know it um Scott has uh his own um well just talk about the the the two or three podcasts you'd most like people to do because I think that's that's the best way to get closer to you yeah to resist is feudal I'm like AOL in the90s if you stick your hand in a Serial box you're going to find something from Galloway I have pivot I have prop G I have my newsletter no mercy No Malice and a sloa book so to resist is feudal [Music]

hello and welcome Ted members it&#39;s very very very very good to see you I&#39;m the head of Ted Chris Anderson I&#39;m a Ted head apparently and uh really excited to be here with you we&#39;re actually doing something we haven&#39;t done before we are going to watch together a Smash Hit Ted Talk in the presence of the man who gave that talk Scott Galloway I&#39;m going to introduce to you in a minute um while we&#39;re watching that talk you can comment away ask questions talk with each other disagree amplify laugh whatever strikes you as the right thing to do and um when the Talk&#39;s over we&#39;ll be putting questions to Scott and um seeing how he can possibly defend the outrageous claims that he makes in this talk this talk is a very big deal he&#39;s outlining a giant problem making some big bold Solutions on what we might do about it it&#39;s a big wow and it&#39;s it&#39;s been seen by millions of people already um but we want to dig deeper into these questions and there couldn&#39;t be a better group of people to do it than you so thank you for being part of this um you are awesome um I think let&#39;s see yeah you could there&#39;s a live transcript to this event if you need it by clicking on the captions option um so I think that&#39;s it um so I would like to welcome the how do we describe Scott Galloway well I mean he&#39;s a professor at NYU business professor he&#39;s the host of an ungodly number of podcasts incredibly successful he does all kinds of things he&#39;s been a successful entrepreneur and general troublemaker and it&#39;s a delight to welcome Scott Galloway here Scott Hello nice to have you it&#39;s good to be with you Chris thanks for thanks for having me and hello to all uh Ted acolytes and members Al righty so I don&#39;t know if you&#39;ve ever done this either I I I would whether it would be at all uncomfortable to watch yourself in full Glory giving uh giving this talk that was so well received but let&#39;s try it let us roll this video without further Ado my name is Scott Gallow I teach NYU and I appreciate your time I have 44 slides and 720 seconds let&#39;s light this candle okay so for those of you who don&#39;t know me I&#39;m actually a global television store true story I&#39;ve had four TV series in the last three years two of them have been canceled before they were launched and two were canceled within 6 weeks let&#39;s recap if we want to juices sing if we want to put a cattle Pro up the ass of the economy Bloomberg the most trusted name in financial news not for long I&#39;m going to do whatever I can for this country of ours Jesus Christ Jes come on dude you&#39;re Ed for two are you are you uh face for podcasting so first Insight of the day I&#39;d like to be the first person to welcome you to the last test okay by the way it&#39;s clear the what&#39;s it called what are we here for the Brave and the brilliant it&#39;s clear that Chris is a frustrated soap opera producer uh essentially what we have here is a telen Nolla where after a night of unbridled passion between Bill Gates and Malcolm Gladwell they give birth to their bastard lovech child Simon cynic okay I start us with a question do we love our children sounds like an illegitimate question right well I&#39;m going to try and convince you otherwise essentially as we go down Generations we&#39;re seeing that for the last two generations people are making less money on an inflation adjusted basis in addition the cost of buying a home the cost of pursuing education continues to Skyrocket so the purchasing power the prosperity is inversely correlated uh uh to age simply put as we get younger we&#39;re taking away opportunity and prosperity from our youngest the social contract that is now no longer in place and for the first time in the US&#39;s history a 30-year-old is no longer doing as well is that his or her parents were at 30 this is a breakdown in the fundamental agreement we have with any society and it creates rage and shame as a result people over the age of 55 feel pretty good about America but less than one in five people under the age of 34 feel very good about America this creates an incendiary righteous movements cuts to our society end up becoming opportunistic infections because generally speaking young people have a warranted Envy they&#39;re pissed off and they&#39;re angry that they don&#39;t enjoy the same spoils and prosperity that were provided to our generation a decent proxy for how much we value youth&#39;s labor is minimum wage and we&#39;ve kept it purposely pretty low if it had just kept paac with productivity it&#39;d be about 23 bucks a share but we&#39;ve decided to purposfully keep it low Out Of Reach median home price has skyrocketed relative to median household income as a result pre pandemic the average mortgage payment was $1,100 it&#39;s now $2,300 because of an acceleration in interest rates and the fact that the average home has gone from 290,000 to 420 by the way the most expensive homes in the world based on this metric our number three Vancouver why because 60% of the cost of building a home goes to permits cuz guess what the incumbents and own assets have weaponized government to make it very difficult for new entrance to ever get their own assets thereby elevating their own net worth this is the transfer I&#39;m going to be speaking about this has resulted in an enormous transfer of wealth where people over the age of 70 used to control 19% of household income versus people under the age of 40 used to control 12 their wealth has been cut in half this isn&#39;t by accident it&#39;s purposeful this is me at UCLA in 1987 I know your first thought is I haven&#39;t changed a bit this is also Mia sario who is the analyst that put together these slides by the way Mia is 26 I did the math just by virtue of her being in this audience it brings the average age of the entire conference down 11 days when I applied to UCLA the admissions rate was 76% today it&#39;s 9% I received a 2.23 GPA from UCLA I learned nothing but how to make bongs out of household items in every line from planet to the Apes and the greatest Public School in the world Berkeley decided to let me in with a two 2.27 GPA and that&#39;s what highered is about highered is about taking unremarkable kids and giving them shot of being remarkable and every year it&#39;s gotten more expensive higher ed and homes and the ability not only is higher ed incredibly expensive it&#39;s not accessible because me and my colleagues are drunk on luxury and I&#39;ll come back to that we&#39;ve embraced the ultimate strategy me and my colleagues in HED wake up every morning and ask ourselves the same question when we look in the mirror how can I increase my compensation while reducing my accountability and we have found the ultimate strategy it&#39;s called an lvmh strategy where we artificially constrain Supply to create aspiration and scarcity such that we can raise tuition faster than inflation and old people and wealthy people have some done the same thing with housing all of a sudden once you own a home you become very concerned with traffic and you make sure that there&#39;s no new housing permits and here is a memo to my uh colleagues in higher ed we&#39;re public servants not [ __ ] Chanel backs Harvard is the best example of this they&#39;ve increased their Endowment in the last 40 years and have decided to expand their enrollment their Freshman Class by 4% any University that doesn&#39;t grow their Freshman Class faster than population that has over a billion dollars in endowment should lose their taxfree status because they&#39;re no longer in higher education hedge fund offering classes my first recommendation Biden should take some of that 750 billion earmark to bail out the one-third of people that got to go to college on the backs of the two-thirds that didn&#39;t and give a billion dollars to our 500 Greatest public institution size adjusted in exchange for three things one they use technology and scale to reduce tuition by 2% a year expand enrollments by 6% a year and increase the number vocational certifications and non-traditional 4year degrees by 20% where does that get us in just 10 years in just 10 years that doubles The Freshman seats and cuts the cost in half this isn&#39;t radical this is called College in the 80s and 90s another transfer of wealth look at what&#39;s happened to wages oh they&#39;ve gone up not as much as corporate profits there&#39;s a healthy tension between capital and labor for the last 40 years Capital has been kicking the [ __ ] out of Labor well you think well what about wages right they they&#39;ve gone up well if you compare them to the SNP they barely register it&#39;s been an amazing time to own assets but your attempt to get the certification or the income such you can acquire assets has gotten harder and harder in my class with 300 kids it&#39;s never been easier to be a billionaire it&#39;s never been Harder To Be A Millionaire by the way our job in higher ed isn&#39;t to identify a top 1% of people who are freakishly remarkable or have Rich parents and turn them into a super class of billionaires is to give the bottom 90 a chance to be in the top 10 you you know you know who doesn&#39;t need me or higher education the top 10% the whole point of higher ed is to give the unremarkable I years truly who was raised by a single immigrant mother a shot of being remarkable the transfer has been purposeful while the cohorts corporations and the ultra wealthy continue to Garner more and more of our wealth we have decided I know if they win the gold let&#39;s give them the silver and the bronze and let&#39;s lower their taxes this trans transfer is purposeful it&#39;s not by accident and it works senior poverty is way down and we should celebrate that meanwhile child poverty is flat to up the third rail I&#39;m going to talk about social security it would cost 11 billion to expand the child tax credit but that gots stripped out of the infrastructure bill but the additional $135 billion a year it&#39;s a social security that flies right through Congress and every year we transfer $1.4 trillion from a cohort that is increasing in inly doing less well to the cohort that is the wealthiest cohort in the history of this planet I&#39;m not against Social Security but the criteria should be if you need it not whether you have a catheter 80% of you 80% of you have absolutely no reason to ever take Social Security it is bankrupting our nation and we have fallen under this mythology that somehow it&#39;s this great social program no it&#39;s not it&#39;s the great transfer of wealth from young to old how is this happening because our representatives are in fact representative old people vote Washington has become a cross between the Land of the Dead And The Golden Girls quite frankly this is [ __ ] ridiculous and if I sound aist if I sound aist I am and you know who else is aist biology when speaker Pelosi had her first child get this two-thirds of households didn&#39;t have color televisions and Castro had just declared martial law but she&#39;s supposed to understand the challenges of a 17-year-old girl who&#39;s 59 95 PBS getting tips on dieting and extreme dieting from Facebook she&#39;s supposed to understand the challenges that a 27-year-old single mother face by the way young and dreamy young and dreamy the Great intergenerational Theft took place under the opes of a virus I know let&#39;s use the greatest Health crisis in the century to really speedball the transfer this is the NASDAQ from 2008 to 2002 we let the markets crash and by the way you need churn you need disruption because it seeds and recalibrates advantage and wealth from the incumbents to the entrance it&#39;s a natural part of the cycle but wait lately no a million people would dying would be bad but what would be tragic is if we let the NASDAQ go down and guys like me lost wealth so we pumped the economy which again increased the massive transfer of wealth the best two years of my life covid more time with my kids more time with Netflix and my value of my stocks absolutely exploded and who has to pay for my Prosperity not me future Generations who will have to deal with an unprecedented level of debt why am I here and why do get the prosperity I enjoy because in 2008 we bailed out the banks but we didn&#39;t bail out the economy we let the markets fall so as I was coming into my Prime income earning years I got to buy no joke these stocks at these prices this is where those stocks are now where does a young person find disruption when you bail out the baby boomer owner of a restaurant all you&#39;re doing is robbing opportunity from the 26y old graduate of a Culinary Academy that wants her shot we need disruption [Applause] I just like this slide it has no context or [Applause] relevance we&#39;re economically attacking young but I know let&#39;s attack their emotional and mental well-being let&#39;s take advantage of the fact of the flaws in our species with medieval institutions Paleolithic instincts and Godlike technology I&#39;m just going to say I think Mark Zuckerberg has done more damage to young people in our nation while making more money than any person in has oh but wait what would could be worse it&#39;s as if we let an adversary implant a neural Jack into our youth to raise a generation of Civic military and Business Leaders that hate America how can we be this stupid all right this all adds up to a bunch of graphs all headed up into the right and what are they what&#39;s the first one oh that&#39;s self harm rates which have exploded especially among girls since my colleague Jonathan hey pointed out it&#39;s really really gone crazy since social went on mobile what&#39;s the next one teens with depression the next one men and women not having sex biggest fear of my parents was that I was going to get into too much trouble my biggest fear honestly is that my kids aren&#39;t going to get into enough trouble by the way my advice to every young person watching this program is go out drink more and make a series of bad decisions and might pay off next graph can you middle of gun deaths you&#39;re more likely to be shot in the United States if you&#39;re a toddler or an infant than a cop next graph obesity way up by the way the industrial food complex wants to addict you to shitty fatty food so they can hand you over to the industrial diabetes complex we should not romanticize obesity you&#39;re not finding your [ __ ] truth you&#39;re finding diabetes W overdose deaths way up deaths of Despair when I was in high school it was drunk driving now it&#39;s kids killing themselves young people don&#39;t want to have kids anymore two-thirds of people aged 30 to 34 able-bodied used to decide to have at least one child it&#39;s been cut in half it&#39;s now less than a third 27% as a result people over the age of 60 in the US pretty happy people under the age of 30 not so much some are the lowest in the Free World what can we do nothing wrong with America that can&#39;t be fixed with what&#39;s right with it we got the heart stuff figured out there are programs to address all of these issues that cost a lot of money that&#39;s the hard part and we have figured this out in just 5 minutes post an earnings call we can add a quarter of a trillion dollars to the economy we&#39;ve got the hard part figured out the resources we have the money but we decide not to do it this is per capita spending on child care in the United States relative to other nations this is housing permits things are doable we increase minimum wage of 25 bucks an hour it goes into the economy the wonderful things about about low and middle- income households is they spend all their money we have to have a restore a progressive tax structure with alternative minimum tax on corporations and Wealthy individuals we need to refund the IRS we need to reform Social Security it should be based on whether you need the money not on how old you are we need a negative income tax my friend Andrew Yang screwed up a great idea but he branded it incorrectly instead of calling it Ubi he should got Republicans on board by calling it a negative income tax we need to eliminate the capital gain tax deduction why when did we decide that the money that Capital earns is more noble than the money that sweat earns shouldn&#39;t it be flipped we need to remove 230 protection for all algorithmically elevated content we need identity verification the reason we can have identity verification is because we have a First Amendment break up big teac we have monopolies that are incurring greater and greater costs on every small business and parents because again see above our Representatives don&#39;t understand these Technologies we need to ageg gate social media there&#39;s absolutely no reason anyone under the age of 16 should ever be on social media we need Universal prek we need to reinstate the expanded child tax credit we need term limits see above Andrew Yang we need income based affirmative action any visible signs of affirmative action make no sense at all you would rather be born gay or non-white in the United States today than poor and that&#39;s a sign of our progress and our need to recalibrate who we give advantage to affirmative action of which I&#39;m a beneficiary uh I was I got pel grants I got unfair Advantage affirmative action is a wonderful thing and it should be based on color it should be based on green how much money you have or don&#39;t have expand College enrollment and Vocational programs mental health band phones in schools invest in third places big brothers and sisters programs we need national service we need to tell people in the United States and Canada that they live in the greatest countries in the world and we need to remind that them of that every day by exposing them to other great Americans where they feel connected tissue we can do all of this we can do all of it we have the resources the question is do we have the will this is my last slide it is an emotionally manipulative slide to try and get you to like me more but it does have a message this is the whole shooting match anybody here without kids ask someone with kids you have your world of work you have your world of friends you have your world of kids something happens here your whole world Chang shrinks to this so I present as I wrap here which is a few questions one if you acknowledge that our kids are the most important thing in our lives that everything else we do here is Meaningful but our kids well-being and prosperity is profound if you acknowledge that they&#39;re doing more poorly than previous generations if you believe there&#39;s a chance that the illusion of complexity has done nothing to provide cloud cover for the unbelievable transfer of goodwi of well-being and of prosperity from young to old and if you believe we can actually fix these problems and we have the resources then I present to you I pait I augur the question that I hope has more veracity than it did 17 minutes and 24 seconds ago and that&#39;s the following question do we love our children my name is Scott Gallow I teach NYU and I appreciate your time thank you uh we cut off the standing oh that was a long long standing hour it was as long as I was at Ted this year Scott um an amazing talk honestly I I&#39;m I want to ask you a bit about almost just the actual your style of speaking because I think it&#39;s it&#39;s remarkable but I&#39;m going to start here just this thing&#39;s been seen by five plus million people around the world already and and growing it&#39;s the biggest single hit coming out of the last head I&#39;m curious what feedback you&#39;ve had from it I mean you were pretty you laid out some pretty Savage criticisms of a lot of people there have some of them come back hard at you have you mainly been Amplified and cheered on and it give us a sense of the feedback on this uh first off thanks for having me Chris and thanks for creating such a powerful platform to let people like me um have this type of opportunity uh 97 98 plus percent has been exceptionally positive um not yesterday but the day before yesterday I was on a zoom call where I spoke after speaker Pelosi and before senators blumthal and um uh Blackburn and talking specifically about my recommendations around big Tech I don&#39;t know if I&#39;ll be invited back because I did not hold back um uh but it&#39;s been you know I&#39;ll let me talk about it&#39;s been overwhelmingly positive it&#39;s been everything from um billionaires reaching out and saying I have a a philanthropy and I&#39;d like your help allocating some of our our resources to someone sent me a screenshot of an account with $10 million in it and said it&#39;s yours if you run for president in 2028 uh to which I responded I have no interest in that but I really enjoy spending the weekend in Vegas with you um uh it&#39;s been really positive so the points of push back that I think are interesting and I want to be clear I get it wrong all the time I you know I like to think that some or even most of this is directionally correct but what I know for certain is some of it is wrong I got pushed back around Social Security uh from representatives from Seniors that this is the most successful social program in the world and that uh I shouldn&#39;t be demonizing old people for taking out something they&#39;ve already contributed to uh I&#39;ve got push back for uh fat shaming um so I&#39;ve gotten you know points of push back but I think that&#39;s important I think that if you&#39;re going to make provocative statements you need to be subject to push back and I would say that my goal is not to be right it&#39;s to catalyze a conversation such that we can craft better Solutions and the thing that&#39;s been really rewarding about this dialogue is that when people send me very long emails including from Congress and the Senate and people who run companies and nonprofits the dialogue has been very civil and I would say that the thing that I really enjoy so you know are recognized about the Ted Community is I&#39;m in a variety of different communities whether it&#39;s Tik Tock or whether it&#39;s a different conferences where I say these things and the dialogue this has inspired has been remarkably more civil it&#39;s been more you know I like this I didn&#39;t like this and I but I really appreciate that the medium is the message you know people are more civil on LinkedIn than they are on Twitter and I have found so far people are much more civil on Ted than other platforms well um that&#39;s nice to hear um we definitely though don&#39;t want people to hold back and I I know that in the comments there there are some people who&#39; pushed back on specific aspects of of the talk but which of the various proposals and things that we could actually do about this problem do you think have most chance of actually moving forward because it&#39;s I mean it&#39;s so wide ranging you know it&#39;s like it&#39;s it&#39;s very hard for young people to get to college now hard to get uh uh a house um and and then all you know all the way up to Social Security and so forth where where do you think there&#39;s most traction Scott something that might actually shift I think there&#39;s already a movement underway to expand freshman class at Elite colleges to invest more in vocational programs um to reverse this Vibe or Gestalt of hire Ed as a luxury brand and return it to being a public servant I think that movement was already underway and it feels like there&#39;s a lot of momentum there and some of the stats have really freaked people out there&#39;s 10 to one MIT employees for every person who teaches so I&#39;ve heard from the the president of ASU saying and the presidents of Purdue saying come here and they&#39;ve been circulating my talk and raising money around the fact that they are not they have not embraced this this strategy I think we&#39;re seeing I&#39;ve heard from quite a few people in the budget office and Congress people talking about uh things including eliminating capital gains tax or just having one income tax similar to what we had under Reagan instead of favoring the income the capital earns or wealthier people versus current income uh I have heard a decent amount around uh the idea of just general General speaking um tax reform how do we put more money in young people&#39;s pockets and then from what I&#39;ll call the retail media whether it&#39;s morning Joe or the view which I&#39;ve been on since this talk it&#39;s we need to change the narrative and stop criticizing young people and saying that their depression their anxiety their obesity is a function of their entitlement and not a function of public policy that people of my age have implemented that okay maybe there is some truth to some of their disappointment so that let me before we go into the other details on it let me pick up that specific point because there is I&#39;m sure that some people watching this maybe probably older people would say are you sure it&#39;s really this intentional thing as opposed to a consequence of just cultural cycle so there&#39;s this quote um that you all know by U Michael KN that you know hard times create strong men strong men create Good Times times good times create weak men weak men create hard times that there&#39;s there&#39;s an argument that we&#39;ve been through so much Prosperity um that you know baby boomers ra raised you know a generation of kids who just grew up too comfortable and uh and that that is where part of the problem is you you are you are halfly arguing with a different case what is is there any truth to that argument I think in almost every generation before ours alcol genx and Baby Boomers there was a concerted effort to elect people who would think longterm and make forward leaning Investments if you think about Apple Google Nvidia all of these companies modna that have added trillions of dollars in market cap it&#39;s really their they build a thick layer of innovation on top of Investments that have been made by the most successful venture capitalist in history and that&#39;s the US government with its limited part Partners its investors the middle class and that there&#39;s a lack of that forward-leaning investment um the B basically the only thing that passes for bipartisan cooperation now is reckless spending Republicans want more military spending and lower taxes Democrats want more social spending and you know and higher taxes and they agree on Lower taxes and more spending so I does feel like we are being irresponsible even Reckless the way I Loosely describe it is $7 trillion do in government spending which juices the economy 5 trillion in receipts I&#39;m in the club parying with champagne and cocaine and the closest the young people get to the club is they can throw their credit card at me from downstairs and I&#39;ll rack up more debt on their back so I can continue this Prosperity even the markets right now we don&#39;t want to talk about this the markets are being supported right now by an additional $2 trillion dollar in stimulus every year in the form of government spending that&#39;s beyond our revenues in past Generations unless it was wartime never would have engaged or supported that type of government spending uh so I I I do think think there&#39;s something different here I think the financialization of everything Chris where as they said in Jerry Maguire more money used to be a bigger seat now in business class now it&#39;s a better life and the fact that we haven&#39;t faced really an any external threats to Rally us together to create more comedy of man or more patriotism there just seems to be not the same sense of selflessness or investment mindset there&#39;s been with past Generations I mean one of the most powerful aspects of the talking there were so many powerful aspects was you&#39;re JS to position of different stats so Harvard this explosive growth in in the endowment and you know no more students being admitted I you immediately know when you just put those numbers together that there&#39;s something very very wrong with that picture so powerful I thought your your line about just showing you know minimum wage has just not remotely caught up with the way at which capital is growing and I I wonder whether one you know there&#39;s almost like some political ideas that we could push out there that said things like that a society is not operating justly if the rate its minimum wage rate is growing slower than the rate at which capital is appreciating it shouldn&#39;t be linked to inflation or even wages it should be linked to the rate at which capital is appreciating in the you know in in that Society otherwise inequality is absolutely bound to increase um and I&#39;m I&#39;m I&#39;m curious which others of those have landed like with social security for example um I understand why people have pushed back have you do you see any workable kind of Middle Ground here where you could say look Social Security is important we&#39;re not going to take the whole thing away but we have to make it more just we can&#39;t have it sucking more and more of the next generation&#39;s time and like what is the right metric to think about how much Social Security could be trimmed to be to the generation coming through that feels like one of the biggest numbers right so I&#39;ve had a bunch of calls with people different people in Congress and different packs about social security so uh means testing and moving the age back right the majority of people just even 100 years ago didn&#39;t participate in Social Security because they were dead by that time now they&#39;re living 20 and 30 years beyond that people will say well I invested in it I want it back I&#39;d say first it&#39;s called a tax not a pension fund meaning that it might be distributed other people two people who live to be 85 take out two to three times more than they put in uh so I think I I&#39;m not saying we should do away with it I&#39;m just saying if somebody it should be means tested the agid should be pushed back to reflect that people are working much longer also just Basics um uh my the person who put together the slides Mia makes $160,000 a year and I&#39;m allowed to say that with her permission she&#39;s 26 very talented young woman she pays $9,000 a year or six % in Social Security this year I&#39;ll make a hundred times that and I&#39;ll pay wait for it $99,000 in Social Security income tax it&#39;s capped for anyone making over $160,000 so if this generation is the wealthiest generation in history why have we decided to cap social security for rich people so I don&#39;t I don&#39;t have a problem with stimulus I don&#39;t have a problem with social programs but Social Security is another example yet again of we are really taxing 6% is a real number for young people their whole life but it&#39;s been di Minimus for me because I&#39;m old and Wealthy so it&#39;s another example of how this transfer under the cover of dark that wealthy people are in there saying we position this tax is onerous but we&#39;re going to cap it like it&#39;s a good thing at 6% why is Jeff Bezos not paying 6% of his income into uh Social Security it&#39;s an off-balance sheet item it doesn&#39;t impact the deficit it&#39;s funded every year but right now 40% of all government spending is allocated for programs that go to seniors it&#39;s about to be 50% in 10 years at this rate which means that crowds out Investments and forward-leaning Investments such as education and technology and we also just need to acknowledge in this sounds agist and it is old people are less productive and more expensive and so unless we figure out a way to to acknowledge that they spend a longer period of their lives being expensive and unproductive our economy is basically just going to be an engine to kind of support the most expensive Nursing Home in the world this is happening in Japan it&#39;s happening in Italy and it takes an economy into decline because you can&#39;t make forward-leaning investments that discour that encourage wealth or Inspire wealth for young people and they don&#39;t have uh they don&#39;t have kids in terms of minimum wage this is an easy one I I&#39;ve been positioned as anti-un I&#39;m not there should be one Union it should be in DC and it should be federally mandated minimum wage 25 bucks an hour except in certain areas where there&#39;s an exceptionally low cost of living and people will start this the incumbents in corporations will start this [ __ ] Narrative of it&#39;ll kill the economy no it won&#39;t in Washington state and California where they raise minimum wage the economy actually grew because the wonderful thing about low and middle- income people is they spend all of their money meaning the multiplier effect is greater if it had just kept paced with productivity and inflation be 23 bucks that&#39;s an easy one mandatory federally mandated 25 bucks an hour would McDonald and Walmart stock take a huge hit sure with a bunch of small businesses go out of business yes and it&#39;d be worth it so as you say you don&#39;t hold back and there were definitely a few things in the talk that that um provoked comment so um Kyra GA I see in the chat found your comment about di diabetes a bit smug um she says there are epigenetics to consider it&#39;s complicated for members of marginalized groups and you say you&#39;ve heard from other people on that is do you want to clarify your your your view on that at all it&#39;s a fair feedback as someone who was born to parents who are both tall and thin so easy for you to say Scott what I have said in the past and I&#39;ll you know if I sound offensive I apologize is I believe that we need bottom line to put more money in the pockets of lower income people such that they can eat better I think we need to tax the food industrial complex relative to its externalities uh obesity morbid obesity has gone from 5 to 9% in the last 30 years uh obesity gone from I believe it&#39;s gone from 30 to 45% uh the only thing that Americans really share is that 70% of us are overweight or obese and if you look at McDonald&#39;s craft General Foods PepsiCo Coca-Cola they&#39;re not companies as much as they are obesity indices and their stocks have gone up 10 to 12x as obesity has gone up and if you give those two their stocks and obesity rates to a statistician they will tell you they are highly correlated so as a result because there&#39;s money in the diabetes industrial complex we have Unilever celebrating obese women we have people saying you&#39;re finding your truth and this is from the same company that sells Ben and Jerry as an AXS which basically encourages young men to [ __ ] anything so the notion that they are concerned about uh or trying to liberate people or all of these apparel companies saying that you&#39;re finding your truth I want to go back to the 60s where Kennedy said it was American and patriotic to be in great shape I used to to train every year for the Presidential Fitness Awards and that was seen as fat shaming so they did away with it I don&#39;t think there&#39;s anything wrong with celebrating Fitness but also at the same time recognizing some people are dealt a difficult hand genetically in providing them with money and resources so they can get out of food deserts I also believe glp1 drugs are the most impressive technology of the last year not Ai and we should be pushing them into low-income communities I think they&#39;re an absolute Game Changer right now here&#39;s a crazy stat the region of America that has the greatest penetration of glp1 prescriptions is also the thinnest it&#39;s the Upper East Side because right now glp1 drugs are being used for ladies of lunch who want to lose that last 10 pounds I hope that more and more of it is imported illegally across the border where it&#39;s a 100 bucks a month versus a thousand and it gets to the people who really need it which is low-income people who don&#39;t have the money for diabetes because the industrial food complex wants you to be obese so they can hand you over to the medical industrial complex of hip replacements kidney dialysis knee Replacements heart stance that&#39;s an enormous industry I want to put Coca-Cola craft uh McDonald&#39;s and some of these Hospital Systems absolutely out of business there&#39;s too much incentive to convince you that being obese is some sort of personal Liberation it&#39;s not so this is so interesting like somehow and I I feel this for Ted as well we have to figure out how to have conversations about difficult topics that are respectful of people and and you know everyone&#39;s as you say has been dealt a different hand but that don&#39;t ignore the basic facts of of health or of Science and and that that is what it&#39;s so hard to do in the current environment right now we&#39;ve all got frightened I think of of saying the kind of thing that you just said and there probably are still I don&#39;t know K how you felt about what he replied there but I I I feel like we need to do both you know we we we need to be provocative and also respectful and I I heard that in you so I think that&#39;s that&#39;s cool um and then again actually um not to pick on car she also I noticed that she pushed back on your um point about social media that you know one of the fixes is to get is to get uh our younger kids off off social media points out and I I&#39;ve felt this reading John Height&#39;s work myself that that those communities that people connect with on social media sometimes are incredibly beneficial so you think of the the the the kid who&#39;s queer or is struggling with something and doesn&#39;t find anyone in their Community who they can connect with finds a community online I mean there&#39;s presumably some some benefit in that is that is there any way of making recommendations where there aren&#39;t swings and roundabouts there aren&#39;t you know sort of downsides to what we recommend uh look one in five lgbtq high schoolers is going to try and kill themselves so I&#39;m I&#39;m involved with the Jed Foundation that works with high schools to try and identify or distinguish between kind of what is normal abnormal team behavior and suicidal ideation and because we have a really we do have an epidemic of self harm at a teen level and there&#39;s just no getting around it some trans and gay kids and other kids from special interest groups find other people like them on social media I guess the question would be if something if if banning social media under the age of 16 or ageg gating it on the whole were demonstrated to be an absolute huge net positive because I think a lot of those communities are actually the subjects of incredible bullying and shaming online and are more prone to go down a rabbit hole of depression and end up in self harm that are the are there other programs that could could could replace that incredible Community some of them have found but I look when you make huge government decisions there is no decision where there&#39;s not going to be losers I mean the the the the special interest group kid who finds people online and for at 14 when age social media is ageg gated yeah that person that person suffers I guess the argument I would make is that if you were to look at any study about the general impact it&#39;s having on people under the age of 16 the benefits dramatically outweigh the the the soft tissue here so the question is could we do it but at the same time recognize we still have an enormous self harm problem among kids especially in the LBGTQ community and move in with other programs or other analog means of helping them find other uh other people but I want to acknowledge there&#39;s just nothing I recommend that doesn&#39;t have a downside so some people are asking about practical things we can do so Adrian neau said as an elementary school teacher what&#39;s your advice for helping uh gen ala students I don&#39;t want my students to grow up having such apathy towards learning and being successful I definitely don&#39;t want my students highest aspirations to be Tik Tock influencers how do I help how do I help them well the first thing is uh we I I just I think this is an easy one I think I don&#39;t think there&#39;s any reason for anyone under the age of 16 to be on social media I think we need a massive investment I think we need to tax every person in a private school and use that uh Capital to invest in after school programs in third places um I went to Public Schools all the way through graduate school I went back to my uh uh my high school University High School and 93% are kids of color it&#39;s got the unfortunate designation of having the greatest proportion of kids who are classified as homeless in LAUSD and they just cut their their drill team they just cut their band uh their drum their drum line because they don&#39;t have money I I just think so much of this Chris unfortunately it&#39;s like households with a lot of anxiety it sounds very crft but I think a lot of it a lot of problems are solved with money show me divorce and I&#39;m usually going to show you some sort of economic stress or poor alignment around economics and when you can add a quarter of a trillion dollars in five minutes post the earning call of Nvidia and at the same time you see corporations are paying their lowest taxes since 1939 and the top 25 wealthiest Americans are paying a tax rate of 6% and five companies have added the value of the of the entire Global Auto industry in the last six weeks we have the resources so I think a lot of this comes down to funding giving kids more third places such that they&#39;re not staring at their phones and also demanding that parents and demanding that entire school systems Go Phone free and that there&#39;s no social media and on a more tactical level I absolutely think we need to ban or divest Tik Tok I think it makes absolutely no sense to be raising a generation of Civic military and nonprofit leaders who hate America and it&#39;s all wrapped in cute dances I just think it&#39;s insane that we would be this stupid one of the wonderful things about America is our optimism but one of the downsides of that is we&#39;re much easier to fool than convinced we&#39;ve been fooled I think every day we&#39;re being fooled by Tik Tok I think this is a the most unbelievable propaganda tool in history unfortunately it&#39;s not ours you mentioned Nvidia there which has exploded in value in the last couple years last year really isn&#39;t that to some extent a counterargument to your earlier comment about you had this unique opportunity to buy these cheap stocks like Netflix and Amazon at low prices I mean there are always has the market fundamentally changed there aren&#39;t that kind of opportunity for smart people to identify Trends and and get the same kind of wealth was it just was it just a timing thing no what we&#39;ve decided is we want capitalism on the way up we want low taxes and the the the Pioneer the the individual who earned the money and should pay a low tax rate because he or she is the most productive citizen and on the way down when there&#39;s a virus or some exogenous event which happened a lot whether it&#39;s War famine Revolution or a virus uh the CEO of Delta says we&#39;re all in this together and want some massive bailout despite the fact that 80% of the free cash flow of Airlines the 10 years before were either used on dividend or stock BuyBacks or Co compensation that juice their compensation and yet so look capitalism on the way up and socialism on the way down is cronyism and we&#39;ve gone full cronius in the United States and I understand the the rationale for pumping the economy full of because I said we needed to overdo it versus underdo it but then no one suggested a special tax for the unbelievable champagne and cocaine disco party we&#39;ve had in the markets markets are touching all times highs right now in the myth that my generation is fed across the economy the young people take hookline and sinker is the following there are two phases of everyone&#39;s life there&#39;s investing and then there&#39;s the harvesting phase investing is when you do your best to make more than you spend and save some money so you can deploy an army of C Capital that grows in your sleep such that you can have some security and some balance as you get older and You Begin harvesting I&#39;m entering the harvesting stage of my life where I&#39;m no longer making as much as I spend during the investment part of your life when you&#39;re younger years you want markets to crash you want real estate that&#39;s inexpensive you want a dollar cost average in at the low the reason I get to roll with you in London and I get to go to the south of France tomorrow Chris is because we let the markets crash in &#39; 08 and I got to buy Netflix at 12 bucks which is at 650 now what we&#39;ve decided now purposefully is that we aren&#39;t going to let the markets have a natural cycle of disruption that anytime the markets are threatened we&#39;re going to weigh in with the credit card of our young friends of our young of our daughters and our Suns and we&#39;re going to artificially inflate and support the markets that is nothing but a transfer of wealth you need disruption you need churn these are purposeful decisions to protect old on the credit card of the young I don&#39;t have a problem with stimulus but for God&#39;s sakes those of us who have benefited from it should pay it back so there&#39;s a great question here from Brett mcco um so during this talk there are an overwhelming number of points that are all delivered in an easy to understand way um that&#39;s true by the way it&#39;s really really I don&#39;t know of a talk where there&#39;s been such density of um points of facts that connect uh really remarkable anyway he says it leaves me charged with the desire to join quote the movement and make change it&#39;s almost like a full semester worth of issues that could be movements but there isn&#39;t an explicit Community or movement to join Scott where would you suggest the starting place for someone who becomes inspired by your talk it&#39;s hard to do this without being political but try and find Congress people or get involved in um campaigns of people who are one talking about the deficit talking about the war on young people having difficult conversations um I mean there&#39;s some very Basics and the speaker before me Andrew Yang final five in rank Choice voting people who are going to be moderates who are going to think long term about Society I think we need absolutely more young people in Congress um so I would say political action just being engaged and then on a ground level getting involved with local schools getting involved in Charities and efforts to help young people in special interest groups uh find third places find places to find each other I think all of this is somewhat couched in young people in an epidemic of loneliness so anything anything you can do to create resources and opportunities for young people to get out of the house I think it&#39;s up to parents to get their kids off I mean there&#39;s just I think it&#39;s not what to do it&#39;s what not to do in terms of a political movement I&#39;m still waiting for a leader to come forward and say I&#39;m going to piss off everybody old people you&#39;re going to hate me um unions you&#39;re going to hate me uh rich people you&#39;re going to hate me we need you know what we need we need the biggest class Trader in history someone who shows up and says are we going to are we going to decrease government spending or are we going to raise taxes and the answer is yes it&#39;s time to start acting like adults and paying it back to some of the incredible Americans who have made sacrifices such that we can enjoy this Prosperity I haven&#39;t seen that person yet but politicians assume that that&#39;s an unelectable slate um and maybe they&#39;re underestimating intelligence of of their citizens I think people are ready do you know one of the top three issues among young people is right now people think it&#39;s Middle East it&#39;s not that&#39;s like number 17 because of the zombie apocalypse of useful idiots on campuses that has been highlighted in media in Tik Tok to give you the sense that every student is protesting 2,300 arrests 40 weren&#39;t students I&#39;m at NYU 99.9% of the kids are just getting their [ __ ] done the new president undergraduate president of Columbia is an Israeli girl what what you know we need anyways one of the top top issues for young people one of the top three the deficit so I just think we need a we need a pragmatist who says I am not going to ever insult anyone on the other side of the aisle personally to get on Tik Tock and raise money I&#39;m going to talk about really boring [ __ ] tax policy the deficit teen depression OB obesity and I&#39;m going to make big sweeping changes and guess what all of you are going to suffer all of you because there&#39;s just no getting around it we need we need to make a fraction of the sacrifices that a lot of Americans made 80 years ago I don&#39;t know about you I was very moved by the D-Day commemorate commemorations but every generation up until this one has made real sacrifice for forward for for Generations except this one so we need to catch up I think people are ready for that so you you&#39;ve spent a lot of time giving advice especially for young men do you think that the problem is has been especially bad for them for some reason or that a a disproportionate share of the solution will be found by fixing the problems that young men are facing right now well all of these things are especially acute so with a young man and this is really this is the thing this is my passion project four times as likely to kill themselves three times as likely to be addicted 12 times as likely to be incarcerated it it is there has been no group globally that&#39;s ascended faster than women more women globally are pursuing tertiary uh education which is remarkable when you think about many nations don&#39;t allow women to pursue tertiary education and twice as many women have been elected to Parliament um uh over the last 30 years around the N around the world now domestically in the US there has never been a cohort cohort that has fallen further faster than young men more women single women own homes now than single men which is fantastic in urban areas women are out earning men these things are wonderful we don&#39;t have a homeless crisis we have a male homeless crisis we don&#39;t have an opioid addiction crisis we have a male opioid addiction crisis and unfortunately something that gets in the way of programs Chris is that because of the benefit the massive benefit privilege and advantage that you and you and I receiv received we hold these these young men accountable we talk we use words like accountability or pull yourself up by your bootstraps if any special interest group was killing themselves at four times the rate of the control group we&#39;d move in with programs and I think there just generally needs to be a change in the narrative and the dialogue and we need to recognize that empathy isn&#39;t a zero some game game marriage didn&#39;t hurt heteronormative marriage civil rights didn&#39;t hurt white people and recognizing the problems that young men especially are facing one and three men under the age of 30 hasn&#39;t had sex in the last year 3 million working age men have given up looking for work 50% of millennial men are no longer even trying to date and so you have this cohort that is doing so poorly and if we don&#39;t have a vibrant middle class full of successful economically and emotionally viable men the nation is going to collapse because here&#39;s the thing about women we don&#39;t want to have an open and honest conversation about mating and this is the following women mate socioeconomically horizontally and up men horizontally and down and when the pool of Men available horizontally and up keep shrinking we&#39;re going to have a lack of household formation 60% of people aged 30 to 34 40 years ago had at least one child now it&#39;s 27% the whole shooting match the whole shooting match why we engage in all this [ __ ] is so we can find someone we love and raise kids together that is the most rewarding thing everything else is a means that&#39;s the ends and when a nation is failing to do that and just creating a generation of anxious obese and depressed kids who don&#39;t like themselves much less have the opportunity to like other people and get together and start having sex and fall in love and have kids and have economic Prosperity then what the [ __ ] is any of this for so I think this is a call for all handson deck if young people and especially young men aren&#39;t doing well then we are not going to have a functioning Nation or economy full stop and it&#39;s time to put the politically correct agenda away and say well you&#39;re being sexist yeah I&#39;m sexist I believe the genders are different if you don&#39;t believe me put a three-year-old girl and a three-year-old boy in a room with cars and dolls and see what happens that doesn&#39;t mean we reduce empathy for either gender but we can&#39;t even have an honest conversation about this stuff because someone sees an opportunity to Virtue signal and get a guardians of Goa pin rather than actually addressing the [ __ ] problem that was a rant but I will say that you rant better than anyone I know I mean I really just as a someone who&#39;s hosted a lot of TED Talks I was stunned by how this one went like many many speaker coaches looking at you would say oh it&#39;s very monotone it&#39;s very you know where where&#39;s the you know you just sort of it just unwraps in a very sort of flat voice initially but every word is so carefully Chosen and follows so consequentially to what&#39;s just gone before that you tap into a different part of people&#39;s brains than most talks do I think like you people go yes know that makes sense that makes sense that makes sense and then it builds and then your anger and frustration starts to come out and get DED up it&#39;s it&#39;s absolutely remarkable rhetoric um I I don&#39;t know how you learned it or where you got it from um but it&#39;s it&#39;s really unique out there I would say and I I think it&#39;s it&#39;s a super powerful weapon and I&#39;m I mean I don&#39;t have people listening agree with this like this is a really unusual and a really I mean it&#39;s not like every will agree with every single word scottt that you said but it&#39;s it&#39;s a it&#39;s a really unusual and Powerful piece of rhetoric about something that really matters and for that I feel I think we all feel huge gratitude to you and and wish you well on this this continued journey I mean that it just that just isn&#39;t uh a more important issue um so Bravo to you thank you Chris I appreciate the generous words and what I told my wife is that after 30 years of working my ass off I&#39;m an over overnight success because of Chris Anderson and Ted so thank you you had visibility everywhere and you and you do it&#39;s amazing how much you you uh you&#39;re out there your voice is out there if people haven&#39;t don&#39;t know it um Scott has uh his own um well just talk about the the the two or three podcasts you&#39;d most like people to do because I think that&#39;s that&#39;s the best way to get closer to you yeah to resist is feudal I&#39;m like AOL in the90s if you stick your hand in a Serial box you&#39;re going to find something from Galloway I have pivot I have prop G I have my newsletter no mercy No Malice and a sloa book so to resist is feudal [Music]

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