OpenAI Trial "Soap Opera," ChatGPT's Stock Picks, and Remembering Ted Turner

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this bullshit. Hi everyone. This is Pivot from New York Magazine and the Vox Media podcast

“network. I'm Cara Swisher. And I'm Scott Galloway. Guess where I am Scott. Where are you? Norway. Really?”

I'm Norway. Yes. Are you in Oslo? No, I'm in Bergen, which is beautiful. That sounds like a speaking gig with some serious zeros on. I'm doing actually a favorite. It's not a paid speaking gig. It's it's for this Nordic media days. They've been driving me crazy to come and the Norwegians are

big on us, Scott. We're big in Norway. We're big in Norway. It's only five million people. But

anyway, it's this group of people that like all the different newspapers and broadcast and podcasters and everything else they do this thing called Nordic media days. And the woman who runs it has been like peppering me for a long, long time. And so I have agreed to do it because I was in London, which I was also in London for Tina Browns thing. Didn't contact me? Didn't stop. I didn't say hi. I go to several times you were in Hamburg. Did it invite me for tea? I didn't say hello. I invited you

for dinner where I got to meet her. Did she use help me to cash big chat? No, this is such a lie. I would joke and to show the text. I'm in Hamburg. What kind of excuse is that? I'm in Hamburg. Were you in Hamburg? That wasn't Hamburg. I was either out of the sausage and having beer. I loved it. By the way, it's just going to Norway. I'm going to finish my story. But go ahead. I'm sorry, go ahead. This leaks in your story. I don't know about you. I am much more liked or less disliked in Europe

“than in the US. I think it's because in the US, the moment you get a sign to some sort of political”

party or not, 50% of America hates you. In Europe, they really don't care. Maybe they just don't know you well enough yet to hate you. Maybe that's where we are. That's fair. I'm going to give it time. Give it time. Anyway, so I went to London to do this Tina, Tina Browns does this

really amazing cause for our journalism. It's a great conference where she puts together for her

late husband, Harry Evans who was an astonishing journalist and she brings together like amazing people and so we was with a great new mark, Christian, Ammon poor and I done them and I had a bit, had a thing on stage. Does Ammon was in London? He wanted to call me again. Can I use his maid? He doesn't call me. I did, but you weren't available. Anyway, so don't because we asked you. Don't even start. So they just said, "Can you fly up to

Bergen?" Which was an hour and a half flight and so here I'm it's beautiful. I have to say it's sort of the entry to the fjord area. The northern Europe in the summer is cold today. Oh, but it's so beautiful. Everything, the light, the water, the sky at night, I mean it's just it's beautiful. I just had giant shrimp, this fish up here is astonishing and then I walked to the top of this flug and fob and flug and whatever. Everything reads like an achy piece of furniture

and then I get up there and there's goats up there just hanging out, goats. Really? Yeah. As I set off my goats can digest anything. My great day can not. If I feed my great day in 30 minutes earlier late it becomes literally a shit can and roaming around the house decorating fecal matter across the most expensive items we have. So goats are not like my great day in life. Well, they go poop up there on the goat, none of the top of it. They can eat anything.

They can eat anything. If you give it a tennis shoe, no problem. I know it was really cool. I was like totally, you know, you're not expecting goats and then there are goats. It was like a lot of goats.

“Yeah, like that. I did. I was like, oh, this is cool. You want to do my Nordic story, should we?”

In one second and then I'm going to go after the London thing, which is a I had a lovely lunch with

Christian on and for when we heard the news about Ted Turner, but I'll get to that in a second. My little European jaunt, which I did ask you to dinner at a fancy person's house where there's celebrities. You know, I don't like other people care. It was nice. It was beautiful. I would have happened out with you and then I'm done with other people. Okay, but you would have liked this dinner. Anyway, so I don't invite you. I'm going to Stockholm for brilliant minds or at

least of RSVPDS. So my story about Stockholm was I went there a couple summers ago on a guy's trip and I was walking around on a Sunday and it was the most beautiful day, fountains, public squares everywhere and I noticed so many people out and I noticed it was all 80% of the people out where like a 55 or 65 year old woman and a teenage girl or a woman in female in her 20s all holding hands walking around and I didn't know what's gone and I literally asked

someone next to him. I'm like, what's with all the women holding hands? Is that, oh, it's a tradition here. Mother's and daughters on Sundays. I don't know if it's every Sunday. Get together and there must have been, I'm not exaggerating in this square. There must have been 300 mother-daughter duos walking somewhere hand in hand. I thought, fuck it. I'm moving to northern Europe. I know, it's really hard to tell. These people get it. One thing that's interesting though, I have to say, is

then I was tired of struggling to a bunch of media types here. They're, they're decide themselves about Trump. They just, he is really spun them up. They're all like, and I said, well, you know, we've had it for 10 years, so we'll have to, you know, I'm sure he's on his way out, but it's, they're just, I was like, it's time to just, you're gonna have to take control of your own destiny in the square you can't rely on us in that regard. Yeah, I agree. Same thing in Germany,

the, in the, in the emotion I registered from them is that they are actually, they're very worried, and they're actually in a weird way. It's like, you don't appreciate

“something until it's gone. They missed the old America. And I think that there's a certain kind of”

bereft, like, we're fond of America and we hope that it is still America. The second thing,

maybe you got it too. The second thing is, how did the tech people become villains? It's here. That brand is here, like, completely, like, how awful the tech people are. And before they, like, had antipathy, that's for sure. Like, you know, with all the different rules they created, and they were sort of onto them before everybody else was, but it's a real, like, a, you know, it's the same trends that are happening in the U.S. The AI is not trustworthy tech villains.

They suck up to Trump to get their stuff. It was, that it's really a theme here. And it's linked to Trump, of course, the tech people are very linked to Trump. And so they have this, they have more than antipathy towards tech. And now it's really, is that that's interesting to me, too. Whenever they, but I got some questions about that about how to tech them off the rails about

“I'm like, okay, but you have to couch it in the following context. I get a little bit defensive”

around this, and that is, and you get that a lot. How did tech, and how did American tech brothers become so, so terrible, I'm like, okay, just just just to slow you roll a little bit in 1995, GDP per capita, in our early way, which was about the same in productivity was about the same between

Europe and the U.S. The U.S. has blown away Europe. I mean, up 20 or 30 percent while Europe is

flat, and most of that is capital formation in tech, and thropic, which was founded five years ago, if it had been founded in Europe, it would be one of the five most valuable companies in Europe. I might, for all the villain, I felt, for all the villainy or villainy or bad vibes that you're getting from tech keep in mind. These companies have created unbelievable economic value that is quite frankly, left you in the dust. Yeah, no, that's been, that's been happening for a long,

that's the second cycle, the third cycle. No, it's absolutely true, but one of the things that was interesting is they're debating whether to use Palantir and some other defense systems. So it's top of mind for these people, of who these people are. So it was just interesting, and I'll be

to check in with other people. Just the IPOs, just the IPOs of anthropic, open AI, in space

“X, if they go through, are estimated to earn, or raise about $250 billion, just those three companies.”

Do you know how much money was raised in the capital markets in the UK last year? Probably one,

not in the billion, maybe. 2.4 billion. Now granted, that was a, that was a, that was an especially

week year, but the capital formation in Europe is just not there. It's there for, it's interesting, it's there for seed stage companies. And also the tax policy, you get a 30% tax credit here in the UK for seed stage investment, you get 30 cents on the dollar back right away. So they're really good about seed stage, what they don't have is in the US. If you show any promise or scale, especially an AI right now, you can go out and raise $100 million for your BNC round. That just doesn't

exist here in the, in Europe. Yeah, no, it's true, but nonetheless, there's still in with us technologically speaking, and they have to use our companies. So they're very interested in what's playing out with Trump and the tech people. Anyway, we have to get to the new speaking of great entrepreneurs. Ted Turner, the media mogul CNN founder who helped create the 24-hour new

cycles died at 87. Turner was also a major philanthropist, making a record $1 billion donation

to establish the United Nations Foundation. It was a different kind of billionaire, although he was also the, it was called the mouth of the south. Beyond media and philanthropy, Turner pursued countless other passions from his Montana grill, his eco-cont, this is a eco-cont just restaurant chain, being named yachtsman of the year multiple times. He was Larry Ellison before Larry Ellison. He announced that he had Louis body dementia, progressive brain disorder in 2018. Jane Fonda,

one of Turner's ex-wives who remained a close friend, remembered him saying manner like 10 aren't supposed to express need and vulnerability. That was Ted's greatest strength, I believe,

and he was, and I recently interviewed her and she had told me he was quite ill. I talked to him a

little bit for my books in a while. He was real mad about the sale and everything else, except that when he sold the company, he had that famous quote where he said, and this deal was

“better than sex. Do you remember that? He always had something cookie to say, and any one moment. And”

I, you know, a lot of people are like, oh, he's the reason we have terrible cable. His vision of cable was not this, what has happened. So I sort of pushed back against that because his idea was that you can get news to sort of democratize the news a little more from the big three. And so I consider him real important. His legacy, very important, even though it's sort of, you know, morphed into this scream fast that it has become. But his was, it was, you know, it was real news,

and I was happy to be with Christiane Aminpor who got there pretty early, not right away at the beginning. And she had nothing but great things to say about his tenure when he was sort of do real entrepreneurial news, news and other things, you know, and a very, a very generous and charitable person at the same time. And also funny, we are interesting. Yeah, this guy is, you know, he kind of defined the term that he don't hear anymore, a captain of industry. And the term captain he was,

“the, something people don't know about him is I think he may be the only billionaire who was also”

in a lead world class athlete. He won the America's Cup. Yeah, he did. Yes. And there are just our very many billionaires who've reached the pinnacle of a sport. And maybe Roger Staubach is he a billionaire? Anyways, but he built CNN from nothing. It's really interesting how it emerged. So news when we were growing up was a public service. And that is ABC and CBS sold a shit ton of ads from Tang and Chevrolet running against all in the family and Mash and the Partridge family and the

Brady Bunch. And they felt that it was a public service to have 23 minutes of news and seven minutes of commercial in this money losing thing called the local news. And he said he correctly figured out that there was money in a market for 24 by seven news. And it was very scrappy. If you look go back, it wasn't very well produced. And he started the whole thing. Now where it came off the tracks was quite frankly with Rubber Murdock recognizing that the part of the news, they made an

observation. And that is, ABC News with Jerry Dumphi back in the 70s had something called Point Counterpoint. And SNL used to mock it. You know, Jane, you ignorant slot. That's our show pretty much. So they recognized something called Point Counterpoint. And it was Bruce Hirschensen and Jim Toney. And they would start yelling at each other. And someone did the analysis and found out that's what people were tuning in for. And that was really the key and arguably the most dangerous

balancing it. It's enough news to keep to give it to create a hail of legitimacy. And quite frankly,

SNL was guilty of it too, Crossfire. And SNL now has a show like that where they all just start yelling at each other. That's Dr. Carlson started. Yeah, and Michael Kinsley. Remember, Tucker and Michael just going at it. And that seems civil. Yeah, it is. It actually, when you watch it, it's actually is. It seems Patricia. It seems intelligent. It's a good story back to differ. You know, anyways, it is digress and it's become something that is, I don't know, it's a longer talk show.

Let's get back to Ted Turner. He gave away a billion dollars. He actually gave away a billion dollars to the UN. I would argue in the UN actually meant something. Something also, people constantly asked

“me for mail role models for kind of a positive or aspirational form of masculinity. I think Ted”

Turner is a great role model. One, let's just go, let's just go to the mail stuff. Very aggressive. Also, politically incorrect. When time Warner, when time Warner was acquired by CNN, Jude Levin introduced the whole thing and said, and now I want to introduce my best friend,

Ted Turner, and Ted stood up and said, best friend, I've never been to your fucking house.

Yeah, it was great. And then my favorite was when he did in all hands, and it was asked Wednesday, and there were a bunch of people in the audience with ashes on the forehead. He's like, shouldn't you be working at Fox? I mean, the guy was funny. I think there's a certain charm in a world now where everything is so, I don't know, especially for a different kind of was good nature. He wasn't mean. He was called the mouth of the South. Remember, he called

himself that, too. I mean, and so it's, he was a different time period. He wasn't malevolent. But he was, he was, he was charitable. He was visionary. He was aggressive. 14 grandchildren. 14 or 12 grandchildren. Married Jane Ford. She's still awesome. She told me she was, she's still an environmentalist, and also took his seat and his privilege and his wealth as an obligation

to serve and connect nations with each other. He funded something that didn't work called the Pan American Games, but it was meant to be a more a less corrupt Olympics. And I call it the Pan American Games. It's called a goodwill games. It was an effort to use tensions between the US and USSR. Anyways, he was very serious about uniting nations and trying to promote world peace. He saw his wealth and his seat as an obligation that he was

optimizing for service not for attention. I would urge people if they're blaming what cable is now in him not to. It's not what he, that was not his vision. I was around for that. And it became that and it was not his, he may have created the 24th. And they did take advantage. Remember, the thing that really sent them over the top was that the girl down the well. Remember,

“the girl down the well story. Oh, yeah. That's what that's what Christian was. He's just like,”

oh, that's the thing that really got people watching. And that and the Iraq war. Yeah, the Iraq war and that's where Christian showed up. There, you saw moments of that. Remember, the studs could Arthur, Arthur can't. Like, it started to turn. That's when you started to sort of see the beginnings of kind of the circus acts of these cable stations. And I was thinking that as I was, you know, I went on Sky News and BBC and suddenly that. And like the constant hunt of,

I think it's a very serious. I'm worried about hunt of Iris. But the, the constant. Let's go back to the cruise ship. Let's go back to the, and it was like, this actually we're in a war in Iran. I feel like perhaps we need to head over there and take a look at what's had the cruising going on in the straight of her moves. But he is a great legacy. And then we're in our jaw. Bernard Shaw, Emil Daniel Shore. Yeah. Oh, my dad's favorite for the Iran reasons. Bobby Batista,

slow as hard. I got, I grew up on CNN. And also, I generally believe a decent administration would be CNN acres. Dana Bash in her residence. She is smart. She is elegant and she could smile at you in your sleep. She's got that edge to her, which every president needs. If you cross her, Anderson should be vice president. Any problems with the Pope, he just goes over there. Just talks about grief. Everybody loves them, confident enough. Freeds a car, a secretary of state, hands down, hands down.

Michael Smith-Connish, he could be a secretary of commerce or labor. Okay. Do I get anything? I'm a contributor. Do I get like an ambassador ship to something? Oh, you're ambassador to Guyana. No. You've already decide this here. Okay. We're going to move on because you're saving me for myself. I'm saving you for yourself because it's interesting. I don't think Ted Turner, he didn't like the

A all time order deal. That I did speak to him about, but first he was like, it was better than sex.

“The deal was the best thing I ever did, better than sex. And then afterwards, he like totally”

publicly, decried it publicly. And one thing that a very dealer, I think told him was like, if you

I didn't necessarily agree with him on that, but he definitely had much regrets. And he probably

“wouldn't be thrilled where from the latest numbers from Warner Bros. Discovery, the company reported”

a net loss of $2.9 billion in the latest quarter. That's essentially a $2.8 billion termination

fee tied to the Netflix deal. Paramount agreed to cover the cost, but the expense still sits on Warner's books until the deal officially closes. For people who don't see why that was that big of loss. But the first, nonetheless, the first quarter revenue was down 1% year over year and ad revenue slid 7% total streaming revenue did rise 9%. Largely, by HBO Max went international, Paramount had slightly better news report being revenue and earnings expectations in the first quarter,

Paramount added 700,000 subscribers during the quarter, helping streaming revenue grow by 17% year over year. The company's film studio did well with revenue up 11%. And they said they're making great progress on the Warner Bros. deal with late Q3 closing still on track. There's still some pushback to it. At the same time, I'm going to add one more earnings Disney's under the first

new CEO Josh Demaro. The numbers were strong with revenue climbing. 7% to 25 billion operating income

across Disney's entertainment sports and experience division beat expectations. The company says that expects earnings for sure to grow 12% this solid in the fiscal year. And one week spot, a dip in attendance that it's US theme parks probably due to fewer international tellers. They're going to see repercussions from gas prices. I'm guessing other prices. But it's only down 1% maybe the next quarter where you're going to see it over the summer. That will be the real indicator

there. It's not on the Warner or everything. There's sort of bump it along these companies. So Warner Bros. 1117 adjusted gap versus estimates of 9 cents, which is actually pretty good. They had a 45% beat operating margin with down, but more mostly flat. The linear networks continue to bleed. The revenue fell 8% with domestic pay TV subscribers down 10% and free cash low was 476 million in that leverage. It sits at 3.4x. The Paramount deals expected a close Q3,

which will form a company with 69 billion in pro-forma revenue. If there's a book, if you wrote a book called the Worst Acquisitions in History, you could just call the book time Warner. They are at the center of the, I mean, three of the five Worst Acquisitions in History

“all involved time Warner. And this one, I think we'll go down as in terms of shareholder”

of value destruction. Paramount posted a clean beat and streaming turned its first real profit, revenue of 7.35 billion versus 7.28, EPS of 23 cents versus 15 cents expected. I mean, companies are just, it's just incredible. Companies are just blowing away their earnings. Their direct a consumer revenue was up 11%. Paramount plus revenue up 17% of one of how much of that is land, and they added 700,000 net subscribers to reach 79.6 million in total.

Direct a consumer EBITDA, improved to 251 million. TV media revenue fell 6% to 3.7 billion as court kind of continues. Paramount has nearly doubled its film slate for 2026 versus 2025 since closing the Skydance Steel Last August. Yeah, and their credit. Yeah, everyone's been saying they're going to got Hollywood and they're coming out swinging and they're doubling their films. The thing is, is it going to make money, right? That's the issue. Let's see what happens.

What happens? Yeah. So let's just wait until they, you can, you can spend the money. I mean,

“that's what British people do, but let's see if they make it. If they have some hits, if they”

have some hits. And so Josh tomorrow's first turning call is CEO reported a really strong

beat. Sheriff's gained roughly 7% after the report. But here's the thing, 100% of this beat,

the credit goes to Bob Iger. Someone does an impact earnings two weeks after they take the CEO job. This beat was really ringing the bell for Bob Iger revenue at 25.2 billion versus 24.8 expected earnings impact 57 versus 149 expected streaming operating income jumped 88% to 582 million dollars in Disney's streaming margins broken to the double digits. It's almost 11%. They're streaming revenue hit five and a half billion up 13% driven by price hikes in

Disney's no Disney no longer reports subscriber numbers, which is a shame. But their experiences that you referenced was up 7% which must be an increase in prices because as you mentioned, numbers are down at a part. The tenants is down and they also have raised their buyback target, somewhat of what Apple did last week and guided for two. I think Disney, I think Disney is a buy.

under his watch and he called Disney plus the digital centerpiece of the company on Wednesday's earnings, see five fuel and consumer spending, Dana Walden who I know you know, named President Chief Creative Officer. It was an important key for that company, the keeping heart because she was a CEO, if she was the top contender. Well, not at all. I mean, quite frankly, a lot of these people are probably, I mean, this is the challenge when your stock is below where it was 10 years

“ago. You have to get the most talented people in the room and say, I'm going to issue new options”

and please stick around because you got to think a lot of these people are looking at what is their options? Yeah, because that's a harder now. You can't be as good a print. You can't do those sweet, sweet deals anymore. Yeah, but if you're a Disney, if you're a talented Disney's executive, yeah, you could absolutely land that you know. I would stay. See, now I would stay because you have power. You're one of the last pieces of, you know, pieces of wood floating. I don't know. I just

would say. Oh, that's interesting. I hadn't thought of that analogy. I liked that. Um, it was from the devil words brought it to, but go ahead. I thought it was from the Titanic. It is, but it was, they should have said that because we just got on the last one. How long it was going to be before you've mentioned the devil words brought it to? Just killing it, still killing it. Yeah, no. It's great. Let's go over every movie that's actually making money. Um, it is making money. Yeah, it's making a

ton. It's, it's going to change the world. Lawrence of Arabia meets the sound of music meets and the circumstance. Disney stock is down more than 10% year to date, despite back to back earnings speeds. I don't know if it's because everyone's giving up on traditional media or because AI is sucking all the oxygen out of every other company of the other 490 in the S&P. But I think Disney actually right now is a really good buy and I wouldn't be surprised if it's put in play

in the next three to six months. You'll be paying that by whom to Apple to, because Apple was looking at perplexity, allegedly. Um, an activist. Oh, an activist comes in and says you need to cut 20% of your

“staff, or you need to put the kind of person they are with, either. I mean, Iager went through that, right?”

Several times, I think. Yeah, but Iager had so much credibility. He was able to back it. It's not because this is a new CEO, right? The stock, the stock. Disney has this unbelievable franchise, or it might be corporate restructuring, go good bank bad bank to spin out the parks in its own business. And I decided not to, as you know, they were going to get rid of ABC at

one point. And then they decided to keep ESPN. I think that's one of tomorrow's first. And an

activist will argue that their decisions have been really poor because this company has probably the greatest collection of IP in the world, a booming park's business, and yet the stock is trading below where it was in 2016. This is sort of, I got to think there's a lot of activist. We can't do this. The same old sort of unpleasant, like, per motor. No, if I had to bet on any firm that shows up forcefully a dignified, it would be Elliot. Um, and by, I don't know anything. I'm talking

about this. But I wouldn't be surprised. Unfortunately, it'll probably be someone like, um,

“Peltz, but he's more consumer. Or I wouldn't, I wouldn't put a pass. That was in the last one. I think”

with poor mother members. I don't know. I think if Netflix stock was, I don't know. I think Netflix and

Disney, this merger between Netflix and Disney could never happen under administration that

didn't have it. They didn't have a FDC or DOJ. There was in a slumber. So if there was any desire to do that, it would then now would be the time. You know, if you had Brenda, it's not, uh, it doesn't like Disney. It's in his, it's in his sights. Who doesn't like Disney? Brendan Carr, a Brenda, a corporate. Yeah, but, well, he's specifically called out Disney, like, my name, saying he doesn't like what that is. Yeah, but he doesn't get to decide any trust. Because it's the, I mean, I guess

could he lead it? The bottom line is Disney and Netflix right now. Disney is cheap right now. So Netflix and Disney, you know, wind up would be game over. If you took Netflix's IP, including Wednesday, Stranger Things, Bridgetton, and used it to go vertical and create experiences and

parks, I just think it'd be, I'm just going to be incredible. By the way, I, I shouldn't happen.

We'd be too much concentration of media, but from it, I would buy shares in that company. Yeah, absolutely. I don't think it'll happen. Although I don't know why it shouldn't, because they have a lot of companies to go up against these tech companies, but I don't know. Anyway, well, interesting to say, it was fine. It was perfectly fine. It was like, okay, it's so funny. You know, when Ted Turner, when that deal happened, I mean, media, that was the top for media,

wasn't it? Like, when AOL time Warner happened, I think. It was like, they were running the fucking show. They were the kings of the road, and then they weren't. Like, it's been a downward, downward, downward slide for traditional media. The, the, the fall of traditional media for me is

we would pile eight people into a house in British Hampton. And every weekend was

a mad scramble to see who we knew a condon asked, who, what magazine was throwing the most fabulous party in the Hamptons. I was wrong, a lot of all those people. And whether it was details or vogue, and the job, the masters of the universe were these was the creatives and the business people working at Condon asthma. Yeah, it's amazing. And in the journalism business, I have to tell you, I was like the internet person, and they like treated me like shit. Like they were like,

oh, you're part of the end. Tech was boring. You know, and you know, the, no, it was Ponzi scheme. It was Ponzi scheme. Oh, it's nothing. It's going to, it's all a bunch of, it's going to go away. And the media reporters was such, not bad. I have to tell you they just were. And I was like, I don't, I think you're in trouble. I was, and they're like, you don't know, they're going to run this show and media media. And I was like, oh, I think there's got some vulnerabilities there.

But they, I, I'll never, it was the same thing. It was sort of it. It was, well, too bad.

“But that's what happened. Anyway, um, let's go on a quick break. We come back and drop it gets into bed”

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Finn.au. Scott, we're back in Thropwick, CEO Dario Amodis, as a company plan for 10x growth this year, but is now seeing growth closer to 80x creating a massive need for more computing power and to space X or rather space X AI, space X acquired, X AI back in February, but Elon Musk is just revealed. X AI will be dissolved, and it's AI probably part of the space X AI brand, of course, because everybody laughed, and he didn't hit the traction that he had hoped, so he's as I said,

folding it right in, everything's going to unfold, it Tesla's next. Under the New Deal, and Thropwick will get compute power with space X AI data center and Memphis, the one that's polluting people, as it works to keep up with surging demand, everybody needs power. It

meeting with senior executive adding no one set off my evil detector. Again, look at the fucking mirror, dude. So is this the enemy of my enemy as my friend? Because of chatGPT, this is an interesting thing. I mean, obviously, Lance has not had the success yet, how he'd hoped to dominate, and it's all about his beef with Sam Alman, but in this case, he's this is what he's

“doing. I would be careful if I was Dario in general, but I think he's savvy enough to deal with”

Elon, though, and he seems to have enough pushback. Any thoughts on this? I'd rather talk about me and the odds and reminisce a little bit longer, so okay. Just for a second. So I started and I want thoughts on this. In 2000, I had, I'm moving to New York from San Francisco. I had just been abused, rodent, written, hardened, put away wet by Sequoia Capital, kicked off the board of the, kicked out of the band, I started, kicked off of the board of the company. I started, just like,

got divorced, just like, I just wanted, I wanted to never go back to San Francisco the rest of my life.

And I moved to New York. Thank you question, did you deserve just a little bit? Did I deserve what happened with Sequoia? I'm just as I'm just curious. Oh, I, I, I was in a noxious aggressive entrepreneur that was arrogant and reckless, but also Mike Moritz is a small vindictive man. Okay, got it. So, so yeah,

“I don't, I think there's enough blame to go around for everyone, and also the board was a bunch of,”

a bunch of, a sequence people getting anyways. It doesn't hurt. I'm still not triggered. I'm clearly over it. I'm clearly over it. All of you are still to this day. I'm clearly over it. Anyways, I moved back to New York, and I started an e-commerce incubator backed by Goldman, JP Morgan, Maveron, Howard, Howard Schultz's company, and it was near impossible to recruit people to come to work for a technology incubator. And I would take people out who were working at traditional media,

who were making five or six hundred thousand dollars a year, and I'd say I can only pay you 200,

but I'm going to give you two million options on two million shares. And I would have to walk them through

what options were. That way. The, the ecosystem, I couldn't even use a New York-based law firm because they didn't do venture. People don't realize New York in 2000 was about finance. It was about media. There was no, there were a couple. Guilt. I mean, there was a guilt in there was, there was guilt in a Kevin Ryan's company, and then there was the one ad company that got sold to the company, which was called the Gawker. That was an internet company. I don't know.

I knew that was a Gawker. There was a digital Gawker. There was a digital ad company in New York. There was no technology. There really wasn't. Wait, so one. Oh, the one that was bought by Yahoo, Tumblr. Tumblr was in New York. Tumblr. The worst acquisition in history. The worst acquisition in history. I broke that story. Nice to meet you, but yeah. Yeah, we're, Marissa, within the same 60 days, Mark Zuckerberg made the best acquisition in history for a billion, he bought Instagram. It's now

worth, they think, probably, a half a trillion to a trillion dollars. And Marissa Marissa said, I'm a

“baller and she bought Tumblr for a billion dollars, which seven years later got sold for how much?”

A couple million to three million dollars. It was a collection of, it was a collection of daily sites, dirty bugs. And then when they shut down the porn, I got into an online battle with what's the guy with the bad Caesar's haircut, the venture capitalist? There was a two or three. There were US square ventures. Anyways, they, they told Tumblr that we're no longer going to fund this bag of shit that was making no money. But he convinced Marissa Mayor to buy it for $1.1

billion dollars. Anyways, I want down memory lane of New York. This has been fun. I really enjoyed this. Okay, all right. And then I joined, and then my, my incubator collapsed within like six months founding it after the dot com implosion. And I joined the faculty at NYU where my first year salary was $12,000. Good times. Nice. Good times. Back to exit. Anyways, back to Anthropics.

What do we talk? I've said this. I wish I, I have never bet on a predictions market. I said this

a week ago. Calshy had Musk winning at 51 or 52%. Now it's all of a sudden fallen to 38. Winning at what? Winning? Winning the case. Oh, the case. The Musk wins the case. Yeah. He's got to think some moves. Yeah. Going from, there is no moves. He does not have a legal egg to stand on. Yeah. You can go from a non-profit to a for profit. You're allowed to do that. Yeah. And when you can California already approved it. Speaking of the late 90s, I bought a home for $720,000

knowing value near where you live, which was a lot of money for me at the time. And to years later,

It ended up that house is next to where Mark Zuckerberg moved. It's got to be worth $10 million

right now. This is the equivalent. Okay. A lot more. This is the equivalent of me going back to the owners and suing them. This is regret. And a Messiah complex caused playing a legal argument. I would agree. Judges and courts aren't concerned or aren't moved by anger and indignants and sellers regret. They're moved by evidence and argument. And there's none here. So I will say this trial. I was thinking, you know, you're watching the text go back and forth

and Miram or Adi doesn't like Sam really, even though she pretended she did. And the girlfriend who was on the board, I'm blank in her name, I don't really care because she's on zealous. Who has that? Is that his girlfriend? Well, it's his partner. And then they had four children.

And she didn't manage to tell the open eye eye people that she had two children with him.

And obviously she was. That's not a conflict. Cara. She's like a spy and like right. There's not a conflict. Like you might give that piece of information if you're in deep with someone. If you're a fiduciary for all shareholders, making decisions around someone's compensation and you're having their children. That's just like, yeah. Probably just forgot to mention this.

“Anyway, so the whole thing and they're like going back and forth in this trial. And I think”

this is a soap opera, but the most boring people, most awful boring people in it. And like, I could give a fuck that whether Miramorotti like Sam Altman or not. I don't care. I don't care. Like, oh, he was manipulative. I don't care. Like, what does that have to do with anything? Like, you know, honestly, you hear that of course about sand being manipulative and telling one person, one thing and another. And as I'm reading it in the trial, I'm like, so

what does this is illegal? Is he's just a jerk? Or you didn't like him? Or he was deceptive. Did he do anything illegal? Because otherwise, you're internal corporate hijinks. I don't, you know, care. I do think she should've told people she had his babies in my opinion. But the whole thing is like a bad soap opera that you want to like turn off. Like, and it's just bad for AI. It's bad for the companies and therefore he's going to do another deal like this. That's where

that's why we're where we are. He's trying to go on himself on to a successful. Ron Wayne was one of the founders of Apple. He owned 10% of it. He sold his 10% for $2,300 back to,

“I think jobs and wasnac. That is now worth $400 billion. He feels bad. And guess what?”

It sucks to be a grown-up. He signed the legal documents. Private property key to private property is when like Elon Musk. And my favorite defense is, oh, he didn't read the fine print. He's a wealthiest man in the world with the most sophisticated legal team in history. But oh, he didn't read the fine. I would like to, I would just love to see someone show up who sold the guy who sold Tesla to Musk or the rights to it. I forget his name. Show up and say, oh, I didn't realize

it was going to be worth this much. And I didn't read the fine print. Just to see how that goes. Yeah, instead he's like baby daddy. I'm like, come on. Like stop it. You can end the notion. These are the smartest people in our planet. They're trying to make it. They're trying to make it an emotional argument that he's trying that I wanted it to be an on-profit. And what did I do? Go on to found a for-profit AI company that arguably has less guardrails than any other AI company.

“A jury of actual people. I think this is a great buy at 38%. I'll take the other side of this. I don't”

know what he likes these people. I have to say, Brockman came out of all these sort of loads and people. I'm waiting for the Sam Altman testimony, but of all the people so far, Greg Brockman comes off the best. And I'm not a particular fan of his, either. Like the one that keeps notes of everything. So some of the highlights of the testimony, let's say emails from Zellis showing Musk adjusted. Open AI become part of Tesla potentially as a B corp subsidiary must try to recruit Sam Altman to join the world class AI

lab within Tesla, even offering a board seat. They didn't had no interest. Sam Altman and Greg Brockman. Two days before the trial started Musk tested Brockman asking if he was interested in settling

the case. Musk supposedly wanted full control of Open AI in part to help him raise $80 billion

to colonize Mars and was using Open AI employees to do secret work for Tesla. Open AI president said the Musk lack of understanding this is Brockman of AI was a concern for the company. That was factual. When I heard that, I'm like, I get it. And Open AI is former CTO Miramarod. He was a very nice person. She testified saying she couldn't trust Sam Altman's words and saying he created chaos. Mir, I like you, but I don't care. Like then leave, leave, leave. None of this matters. Nothing matters. Like none of it.

It's not, it's not who's a better person. It's not who would be a better shepherd of AI. It's contract law. I know. When you sell an asset, it doesn't matter who the bigger asshole is.

It doesn't, and the whole, and media is trying to turn this into, who would be better at running it? It doesn't fucking matter. Don't follow along. When you sell an asset. Right. It doesn't matter who's the better person or steward of the home you sold. It is instructive to look

“how sloppy it is. And so that's why I keep saying to people, they're like, oh, their master's”

universe. I'm like they're kind of sloppy. Like Google, like everybody in the beginning of Google, they were all like fucking each other. Like it was like, and it was a big mess, and it was chaos, and they all hated each other. They liked each other. I could care less, right? That's the thing. Until professional management got a Microsoft early on was like this, like kind of a mess. But who cares? But the fact that it's coming out in court is, it just makes you realize how dumb

and dumb, dumb, dumbness trial is. Like how dumb it is. It's about money. It's all it is.

This is, this is, I sold something that ended up being worth $850 million. You're right. You're

that's it. And it's, I'm the Messiah who's going to put us on Mars who should control autonomous in the U.S., should control space and, oh, by the way, the, the one part of the technological revolution that I don't control, and I can't seem to catch up in, is AI. And nursing his angry wound, yeah, six years after I've decided, oh, I need, I should own it. I need a back, or I need money back, or I need to get in the way of their progress. So I say, I can, I mean, pretty soon, it's going to be,

I don't know. I had a conversation with Daria, I'm a day. I should own, you know, he, he, I should own anthropics, ridiculous. These people $80 billion to colonize Mars. Guess what Elon, you have it. Spend it and have a good talk. Have at it. Good luck. Bye. Take your children. Go, we're, we're thrilled for you. We're excited. We'll write a, we'll write a, a poem for you, like when on your way out. In nineteen, six, two minutes. I think it was nineteen, eighties, six,

seven, eighties, six, or nineies, uh, Mike Tyson at the peak of his career, um,

thought marvellous phraseer and knocked him out in the first 30 seconds. I think legally,

Elon Musk is marvellous for sure. I just think the guy, it's a boxing analogy. I don't like

“boxing because I don't like to see young men beating each other up like that, but if you want to talk,”

oh my gosh, whenever the, the, the, the reals come out of Mike Tyson's 10 greatest knockouts, Jesus Christ, I met him at a restaurant. Did you? Yeah, he came out to me. I was so scared of the guy. I just saw a nice to him. Yeah. That guy, one of the most dominant athletes of all time. Anyways, this is this is this should and I believe will be a first round fucking knockout. And all this drama and all the media say who would be better at open? What happened? Who's talking? Who's

fucking who? It's like when Iran and Iraq were at war, I used to say I hope the bullets win. I don't both. I we don't care. I went on CNN and they asked me who would be a better steward.

It doesn't matter. It doesn't matter. It doesn't matter. The answer is none. Private capital and

private property means it sucks to be a grown up. And if you sell your house, it ends up being next to fucking Mark Zuckerberg and could be where they're 10 million right now. Okay, it's done. You sold me one final observation of these people. These are the richest people on earth. And they're so manifestly unhappy. They're just can't shut the fuck up. They can't stop fighting. They have so much money. None of them are qualified to run the in charge of age. I none of them.

This is what this is showing. And what tiny, petty, angry, unhappy people. They all are every single one of them. And you're like, y'all, none of you deserve what you've got here. So none of you has the dignity or character to look good. And meanwhile, over the left, Darya Modi's sucking up all the attributes of goodness. I don't even trust him. And I like him. Like it doesn't even matter at these people. Anyway, there's a problem. We shouldn't have to trust these people. We should be

able to elect representatives. We can trust to do the right thing and regulate these companies. And then we can fire them easily. Anyway, let's go on a quick break. We come back. We'll talk about managing a stock portfolio via chat to PT. Support for the show comes from Odo. Running a business is hard enough. So why make it harder? With it doesn't different apps that don't talk to each other. Introducing Odo, it's the only business off

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Scott, we're back with just one more quick story over the past few months. I'd love to know what you think of this. A Wall Street Journal reporter asked chat to P.T. for investment advice to see if AI could really realistically manage a stock portfolio. It's actually makes sense. There's speaking of anthropic. They just did an interesting deal where it would make decks and pitch decks and

“things like that. Working, it's called it's a company. I can't remember the name, but it's interesting though.”

Chat to P.T. There's a lot of interesting smaller AI companies being made that actually sound useful, so this is what the reporter did. Chat to P.T. generally identified market risk, but also made simple math mistakes, suggested questionable market timing strategies, and sometimes feared into overly complex ideas, like options trading. The chatbot often told the user what they seem to want to hear, highlighting, a bigger concern that AI could sound confident and persuasive, even when

it's advice may be flawed or risky. Sounds like a lot of brokers, I know, about 30% of every day investors report using AI for their portfolios. So, apparently, not so good yet, not and in lots of really problematic ways. I mean, with a person you're looking at, you would sort of a sense when there's sort of trying to sell you something you don't want. So, it's curious, it's just like with law or medical, it's not there. It's not there, and this personalized investment advice is just

the latest wrinkle. I don't mind them making decks, pitch decks, and things like that, but the huge risk for lawsuits, I would assume just the same with legal or medical or anything else,

“any thoughts. Well, I think it was tempting to believe in the 90s, you could use”

lotus, you know, one, two, three, two, not beat the market by doing all sorts of analysis and calculations, and you might have had an edge for a minute, but what I would argue is that the individual thinking they can use plot, and I'm guilty of this, I've been asking a plot like crazy using co-work to come up with different options and hedging strategies and to identify stocks. I'm guilty of it. I love the

markets. I like to gamble. It's mine, it's a gamble. And I find it interesting what it says,

but here's the bottom line, or what I think, can Griffin will hire 2,000 PhDs

and he will weaponize them with AI, and they will outperform the market. But you believing with your $20 a month, plot co-work, weapon can compete against these folks. You are showing up with a very elegant work on, and they have a fucking howitzer. So this is what you do. You invest in low-cost ETFs, like Vanguard and people who know and understand technology can use, you know, understand how to use AI. But this will further diminish or create a widened delta between individual

investors and institutional, because institutional investors will have the capital.

The bottom line is every time you place a trade, you gotta keep in mind. On the other side of that

trade is likely somewhat smarter than, you know, that has broader technology. So what you want to do in my view, unless you, I get a lot of, I get a lot of psychic income around playing the market. So 30% of my network you like doing. I enjoy it. You know, it's fun for me, occasionally I have access to a deal that other people don't have access to. So fine. But the retail investor would be better off finding

That's what I do. That's a good internet. Exactly. I'm not interested in it. I know I could do slightly

“better if I, I'm a little smarter than most people and have a little insight. You're smarter,”

you're smarter in an area that has nothing to do. That doesn't even mean, be careful thinking that. Oh, no. What I mean is I have some thoughts on some things that I probed. I'm talking about the average bear, but I don't think I'm smarter than the bear. We understand technology. That's right. So I could be like, hmm, I wouldn't bet on this company. I would bet on this company probably

earlier than other people, but I still wouldn't win still. The problem is people have emotions

in the market and you can't trust your emotions in the market. So when the stock gets cut in half your emotion is to sell it because you can't take any more pain, but that's probably when you should be buying more. And then you, and then you have, you literally have Ken Griffin out there looking at all the trades and seeing where emotion is spiking or irrationally plummeting and then moving in in a millionth of a second and then moving out and absorbing millions of different

data points. So you do not want to plan traffic here and believe that just because you're going to get up to the mound where a guy is pitching 105 miles an hour because you got a new aluminum bat that you think is going to, that you're going to be able to hit a home run. Now you're going to be in the face. So I do think AI is going to be a huge unlock and also it will compress margins because what will happen is financial advisors unless they're really good and can go upstream

into tax planning. A mediocre financial planner at your local bank. No, you could probably do almost as well using AI or better and save 1% a year. I remember when I, my mom passed away and I was looking at her state, this guy was charging her one or one and a half percent of her assets every year to put her an eight SMP stocks. I'm like, okay, that's just not that hard. Why are we paying you one and a half percent? Right. Yeah. And one and a half percent. So what I would say is,

“I think by the way, I think people should use AI to try and pick stocks. I just don't think they should”

buy them. I think it's fascinating to see the logic to see what it comes back with to start asking and more questions. I've been trying to figure out options strategies and I don't know, I'm strangled strategy. I just, I'm learning a lot. No, sometimes you don't know if it's accurate. Right. That's the issue. Some of it. The, the sycophanticness is still a problem because it's not going to challenge. It's not, if you, I think someone was, I think the article says, it's no more than having

a smartest assistant. Right. Like, they're no smarter than anything else and there's an assistant part, which doesn't want to what displays you. And then it's just a smart person, but you're

never going to have an edge with AI the way you can. You can, you can normalize for that. There's a

co-work feature, feature and anthropic, where you ask this council of people, once a cynic, once an optimist, one is, one is grounded in historical context. The other is like an analytical on an emotional person. And all of these quote unquote agents, look at your question. And then they distill their answers up to a quote unquote chairman who distills it and gives you an answer back. You can also, I, I, I, I lead a lot of prompts with give me the brutal truth because I don't

“like, you know, I don't like it. I hate it when it says to me, great question. The other thing you should”

do is, is, and I can't do this because I unsubscribe and chat you PT, you can beta test the same do the exact same prompts somewhere else. I did that before I quit and I was on other things, like show me a book title, get show me a book cover. I got to say club was hands down the best. It just was. It was just, it was so clearly better. You know, when you taste test things, you're like, oh, that tastes like shit. And that's good, right? Or the coffee or something like that. But yeah,

you're right. But anyway, it's very interesting. I mean, you should all try it out to see what happens and do one of those tests. But this was a great article on the journal. And I think it showed

that it's just doesn't, it's not as ready for prime time as they say. And about 30 percent,

a third of retail investors are already using AI for their portfolios. And so everyone's looking very short cuts gone. But this, one of the greatest grips I believe, legal gifts in corporate history, was the financial advisor or or institutional investors. And by the way, the majority of the griffed has happened amongst the richest. Yeah, rich people like. Rich people like to believe that they deserve something better. So they want to get into these really high profile well-market

hedge funds. They believe, well, I have access to Alson or I have access to this, you know, D, Shah, whatever. Okay. Fine. Guess what? If you add it up all alternative investments and hedge fund returns for the last 50 years, they have underperform the S&P by the amount of their fees. It's a and some outperform, Berkshire Hathaway has outperformed. My buddy at Anchorage Capital has

over the medium and long term, they all underperform the market by their fees and every piece of

data now said, if you go to the finance department at a world-class university and ask them where they invest, they're like Vanguard. Mm-hmm. Me too. And they don't take stocks. You know what I do? Big stocks. I don't know. Someone's like, how are your stocks doing? I'm like, I have no idea. And I'm not going to look until I need. And I don't really need the money. So, I just like, I just put it there and then it goes away. It's like, it's like a bank at Gringots. I don't care.

“Like, the more I think about it, the more upset I get, right? Like, what am I missing? What did I get wrong?”

Did I buy gold? Should I do this? And then I'm like, why am I that fucking person?

It's a great point because in addition to the capital, you're investing. You want to talk about the

emotion you're investing. And that is, I do get psychic income, but I started buying stocks when I was 13. I worked a more instantly. I find it fascinating. I really do enjoy markets and it served me well. Having said that, it also takes a real emotional toll staring at your fucking phone. And then when you buy a stock and you're convinced you're a genius and it gets cut by 40% to do you accept you buy it? You're really going to beat yourself up. You are. It's just, it's better not to pay attention.

Again, if you like it and it's fun, that's one thing and it starts to get to an obsession. It's another. The only thing I wish you wouldn't do is put so much of your medical information into these people. Because they don't, they're not bound by hip-hop. Same thing with legal. I'm like, please don't. I mean, unless you find one of these ones that is bound by the same laws, everybody else is. I just worry about that over time. What's that? Wait, I'm just saying, when every, you put a lot of

your per, you always like, "Oh, I loaded up, you sometimes you don't realize your thing.

That's me. I put away all my medical thing into this." And I was like, "Really?" That's right. Trust these people to have all Scottsman.

“Very promiscuous of my people. You are. I make me worry. I'll be honest with you. I think, "Oh, dear.”

No, don't do that." Because you think at some point they're going to get all of it and weaponized it against them. They're not, they could because they're not bound by hip-hop, they're not bound by legal things. Who knows if they had a security breach? I trust my lawyer because I can sue them. I trust my doctor because I can sue them. I mean, I mean, they're bound by any way. I wonder if I should just send out a preemptive apology to Angie Dickinson and Emily Radikowski

right now? Well, it's just all the things I've asked. No, no, okay. We're moving up. We got to go. All right. All right, Scott. One more quick break. We'll be back for predictions. In a quick, all complete. Sweet now. Imagine what your dreams can become when you put imagination to work at kenta.com. Support for the show comes from Odo. Running a business is hard enough. So why make it harder with it doesn't different apps that don't talk to each other?

Introducing Odo. It's the only business software you'll ever need. It's an all-in-one fully integrated platform that makes your work easier. CRM, accounting, inventory, e-commerce, and more. And the best part, Odo replaces multiple expensive platforms for a fraction of the cost.

“That's why over thousands of businesses have made the switch. So why not you?”

Try Odo for free at Odo.com. That's Odo.com. Support for the show comes from Harvey AI. The future of law is a genetic, not just tools that assist, but AI agents that navigate complex matters. That's why Harvey created agents that can do the work from end to end. They build a plan, pull from secure data sources, run sub-agents, and parallel, and draft the work product ready for your review. So you delegate the work and on the

judgment. Trusted by more than 60% of the AMLA 100 and leading Fortune 500 legal teams, Harvey is the AI operating system designed specifically for legal work. Harvey, AI, tailored for law. Learn more at Harvey.ai. Okay Scott, let's hear a prediction to have a prediction for us. It was a really interesting story this week that I think kind of indicates or pretends

for tens what it might be in store for us around potential acquisitions. And I made a similar prediction a few years ago, but it didn't pan out. And that is a 32-year-old TikToker.

No, he said, he said, "Look, spirit helps keep the airline prices down. Let's do what we did with the Green Bay Packers and let's mutualize it." And he's very talented. And spirit said it was going to shut down to AM on Saturday. And this guy, Hunter Peterson, had a TikTok up the same

day, a website of the next, and six million views within days. And more than a hunt get this

care, more than 130,000 people have pledged on average about 1,000 bucks each, totaling $130 million. And essentially what it's saying is that, okay, 20% of American adults paying the average spirit fair of $30 to $40 equals enough to buy an airline. And they say, it's unlikely to close, but the idea with an in-air of AI and compliance AI where you could spin up the legal documents

“and have people sign them. And with PayPal, I think you're going to see in the next”

12 to 36 months, someone pulled us off, where they say, "Hey, who wants to buy STLotter, who wants to buy?" You know, they don't start with a small stock. It wouldn't be STLotter because that's too big a company, but it'll start with a small company that goes out of

business, they'll say, "Okay, Dick Sporting, whatever it is." And someone talented, who's very

charismatic, who will weaponize social media and AI to collect legal pledges for funds and will buy something. I think crowdfunding is going to happen and also retail participation US equities has risen by nearly 20% of average daily trading volume, which by the way is usually a sell signal, up from low single digits before COVID. So it's like, when everybody got it, one of those accounts. That's right. And rather than fading, retail flows hit fresh records in

20/25. Most of the stock markets that everyone's like, "That's right, everyone thinks they're genius now, everyone's like, "Oh, okay, I like that. Why don't you do it? Why don't we buy something?" Well, that's what I used to do for a living. If we can't know what we like to do, I don't like the stunts. What could we buy? What would buy? Oh, kinds of stunts? Like Chipotle or something. Like Chipotle's expensive.

Right. Chipotle's expensive. I don't want to buy an airline. Do you know they send me? I used to tie, I was in the original. That's not the plot of Chipotle. They sent me a card. This is the most impressive, my sense of ever been with me. I got a card for a free lifetime Chipotle and I sold it or I didn't sell it. I've lost it. But I love... Oh, you want me again.

“That's what this was about. A little card. I think you're here. They sent me a card.”

No, if they do it again, I want a one-serious cabbage. No, yeah. I like that prediction. It's a really, really good prediction. By the way, I predict the government is going to lose that idiotic case against the New York Times about the hiring, the DEI, and then attacking the woman who did redistricting. These people make Chao Chesco look kind. It's ridiculous. They're

going after all their enemies with the FBI and they're attacking... Here's what I project.

It's going to end in tears for those people. They attack the New York Times for DEI. In a lawsuit, then they're going to use the Justice Department to try to get aging carols money that Trump owes, or the 83 million, which is insane. Then they attack the woman in the 82-year-old woman. They rate it at her office to try to find corruption. Who was so this bad-ass lady in Virginia who did all the redistricting that kicked their ass?

And then they are investigating the reporter for the Atlantic who, you know, no shit, true lock did the story about Caspatel being a drunk. And of course, she immediately answered it by showing off a bottle she bought on auction, where Caspatel gives out whiskey to people with his name on it. Like, would reserve whiskey? No one's having any of this nonsense that they're doing. It's just so, like, clot-ish and thug-ish. So none of it's going to work. That's my prediction.

Can I just... I can't help it. I agree with you. The private companies get to do what they want. Whether... That's not a government's business. I'm my view. Unless it's...

“They're claiming reverse racism. And I think... I will say...”

Is that the guy sue her? sue the New York Times? I don't care. A search warrant is not proof of guilt, but it is a serious threshold. And federal judges do not casually approve rates on senior state legislatures. Come on. So, well... Why her? Why her? Because, well, okay, you could argue that the investigation, the fact that it was even launched as politicized, but a federal, a sitting federal judge, they do not issue that. This is my high profile

corruption probe. They often look strong as at the rate stage and weaker layer once the evidence works. Yes. But it's with political claims, right? But to be fair to the other side, a search warrant is a, you know, it has to pass a serious threshold that a federal judge does not casually approve. I understand that. I understand that. But there's a reason they didn't pick 20 other Republican ones.

And they... They've complained about it happening to them and then they're doing it. So stop it.

“Just cut it out. Anyway, we want to hear from you. Send us your questions about business”

tech or whatever's on your mind. Go to nmymag.com/pivot to submit a question for the show or call 8555-1-pivot. Elsewhere in the Karen Scott Universe this week, Scott, uh, Profty Markets is going on tour this month. Uh, tell us a little bit about it. It's kicking off May 27th. It's going to San Francisco, LA, Miami, Chicago, and New York. You go to Profty Markets tour.com for tickets. Tell us a tiny bit about this and why people should go.

Well, thanks, Karen. It's... It's similar to what we did with Pivot. It's a live tour. We have a bunch of great gas across different cities. It's interesting. It's interesting. What sells out the quickest New York and San Francisco? We were worried that San Francisco wouldn't like us because we're constantly... Chipposing tech people, but New York and San Francisco are going to sell out in the next 24 hours. And anyways, but yeah, it's just a live

tour with me and Ed Alson. We sold out San Francisco first on pivot. Yeah. This was a Toronto and

San Francisco Toronto. And Boston, we did Boston. We sold out Boston. We sold them all out fast. I mean, the LA was happy to be a huge there, so it took a little longer. Yeah, but it's it's uh, and it'll be after the show. It'll be a bunch of people coming up to me and asking me if Ed Alson is single because their daughter is looking for a nice husband. Um, but yeah, so it's my um, property markets live tour, go to property markets tour, property markets tour dot com.

It's starting the end of May and first week of June. Great. That's fantastic. And also we're going to be doing pivot in the fall with another pivot tour in the pool. We're just you're going

“to be on the road, Scott Galloway. We're doing another tour? Yes, you know that. What do you want?”

Do you know that? We are. I didn't know that, but I'm excited about it. You can't help with literally how to call about it. What do you have? What's happening? We didn't have a call about another tour. We literally discussed it. We're having a tour in the fall. You were on the call. You weren't listening, but you were there. I don't remember. Where am I? Well, we're having one. Anyway, that's the show. Thanks for listening to pivot and be sure to like and subscribe

to our YouTube channel. We'll be back next week. Today's show is produced by Laren Eman Zoey, Marcus Taylor Griffin, and Todd Weissman, her new year to how to introduce this episode rich. Shivley edited the video. Thanks to all sorts of jibros, miss me. We're on down to Lahn. You shot Corros Vox Media's Executive Master podcast. Make sure to follow pivot on your favorite podcast platform. Thanks for listening and pivot from New York Magazine, Vox Media. We'll be back

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