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Episode: Election Predictions, Comcast Spinoff Plans and Guest Dan Harris
Author: New York Magazine
Duration: 01:15:05
Episode Shownotes
Election Day has finally arrived! Kara and Scott discuss the last-minute polls, the debate over equal time on TV, and how this became the "Elon Election." Plus, the final predictions about the race. And if you're feeling stressed out by the election, Friend of Pivot Dan Harris is here to
help. Dan is the host of the "10% Happier Podcast" and he shares his tips for reducing election anxiety. Follow Dan at @danbharris Follow us on Instagram and Threads at @pivotpodcastofficial. Follow us on TikTok at @pivotpodcast. Send us your questions by calling us at 855-51-PIVOT, or at nymag.com/pivot. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Summary
In this episode of the 'Pivot' podcast, Kara Swisher and Scott Galloway discuss the lead-up to Election Day, focusing on stress related to the election and the implications of recent polling data. They welcome Dan Harris, who offers strategies for managing election anxiety. The hosts delve into the competitive landscape of the election, including voters' emotional responses and the influence of celebrities like Elon Musk. Additionally, they explore Comcast's potential spinoff and BYD's notable performance in the electric vehicle market, highlighting the significance of corporate strategies in a changing economic environment.
Go to PodExtra AI's episode page (Election Predictions, Comcast Spinoff Plans and Guest Dan Harris) to play and view complete AI-processed content: summary, mindmap, topics, takeaways, transcript, keywords and highlights.
Full Transcript
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00:02:11 Speaker_10
My favorite poll is a short one that has an on switch and then I stick it up my ass. Maybe I should try that. I'm so stressed out. Xanax and Aspley. There you go. That's the peanut butter and chocolate. You asked me what I was going to do tomorrow night.
00:02:23 Speaker_10
There you go.
00:02:28 Speaker_03
Hi, everyone, this is Pivot from New York Magazine and the Vox Media Podcast Network. I'm Kara Swisher.
00:02:33 Speaker_10
And I'm Scott Galloway.
00:02:34 Speaker_03
How you feeling today, Scott? You're posting a lot on the threads, the fast-growing threads.
00:02:39 Speaker_10
Yeah, I think that's a sign of neurosis. When people say, how are you, I say, you know, I'm okay, and then the voice in my mind goes, you're pretty fucking far from okay. I'm actually really stressed, how are you?
00:02:52 Speaker_03
Are you?
00:02:52 Speaker_10
Yeah.
00:02:53 Speaker_03
I'm a little stressed. But Clara was sick, so that sort of got me out of my stress. You know, I've decided to be Zen. I'm going to try to be Zen.
00:03:02 Speaker_10
Can you decide to be Zen? Is that a decision we get to make?
00:03:04 Speaker_03
I can. I don't think you can, but I can. Yes, I have a lot of control over my emotions from years of having to be controlled. You know, I watch Menendez documentaries.
00:03:17 Speaker_10
Oh! I find that really disturbing, but it's really good.
00:03:21 Speaker_03
I love both of them. I like the Ryan Murphy one, and I loved the documentary. I thought it was great.
00:03:28 Speaker_10
I've been watching the original scripted series with
00:03:30 Speaker_03
Ryan Murphy.
00:03:31 Speaker_10
Yeah. I'm two episodes in.
00:03:34 Speaker_03
Keep going.
00:03:35 Speaker_10
I grew up with that. I was a senior. I was a first year in grad school or senior in college when that happened. That was a big deal.
00:03:43 Speaker_03
It's a lot. It's a lot about stories and narrative and what we think about men being abused. You know what I mean? Like the second trial, which they went to jail on,
00:03:52 Speaker_03
The judge said they couldn't use the abused woman defense, essentially, because men don't get abused. It was really amazing. Things have changed so dramatically.
00:04:01 Speaker_03
And it looks like there's more proof that the father was indeed exactly what they said he was. So this imperfect self-defense thing, they may get out. The two of them may get out. Anyway, that's what I'm watching to feel better.
00:04:15 Speaker_03
Let me just say, I went to Miami for a wedding this weekend. Oh, how was it? I love the breezes. It was nice. It was lovely. She lives in Miami Beach. It was very pretty on a waterway. I don't know which waterway it was.
00:04:27 Speaker_10
The Venetian Causeway?
00:04:28 Speaker_03
I don't know. Anyway, I just took an Uber there. It was nice. I stayed at the addition, was there for five minutes. It's a nice hotel. It was literally 24 hours in Miami. We got there, Tammy had it. Saw a lot of friends.
00:04:42 Speaker_10
Did you go to the Mathador room? It's beautiful, all the paneling.
00:04:45 Speaker_03
Not really. No, I didn't.
00:04:46 Speaker_10
Did you see the bowling alley or the ice rink? Didn't. I spent a lot of time at the audition. That smell, is that jasmine?
00:04:52 Speaker_03
Whatever, it's lovely. It's lovely to go walk on the beach, et cetera.
00:04:55 Speaker_10
The Pollo Con Arroz is their specialty at the Matador.
00:04:58 Speaker_03
And yet I didn't do any of that. So I literally, the plane was late, I got there, got dressed, went to the wedding, had drinks on the deck there at the hotel afterwards, and then left the next morning by eight o'clock, so I was gone.
00:05:10 Speaker_03
But I have to say, you know one thing I did like, and I forgot how much I like, not just Miami, but Hawaii, the Caribbean, is those warm breezes. Warm weather? No, it's warm here. We have warm weather here. It's more the breezes, the tropical breezes.
00:05:22 Speaker_03
I love that feeling.
00:05:24 Speaker_10
You know what I miss that they don't have in London or most places? Really fucking hot women wearing nothing. They are everywhere enjoying those. Oh, it's a warm breeze. I think I'll wear a halter top. Oh, God, love Miami.
00:05:38 Speaker_03
Yeah, not in London. Love Miami. A lot of tweet.
00:05:42 Speaker_10
And they love the wealthy, older, ugly guys.
00:05:45 Speaker_03
Hello, ladies. Oh, that's you. That's you. That's you.
00:05:48 Speaker_10
Yeah. No, you're not supposed to agree with that.
00:05:50 Speaker_03
I just didn't say anything. So anyway, so I had a good time. I saw my friend Jennifer Beals, I saw my friend Carrie Farrell. Hello, name drop.
00:05:58 Speaker_10
What was that? That was three and a half minutes in. And you sent me a picture.
00:06:01 Speaker_03
I don't tell you. Yeah, she's great.
00:06:03 Speaker_10
She's a very tall woman.
00:06:05 Speaker_03
She's very tall. She took all the pictures for me because I was way in the back. Let me just tell you, I was stopped several times at the airport.
00:06:12 Speaker_10
About how much people love us?
00:06:14 Speaker_03
No. Yes, they do. Yes, that they did. But white men, Republicans, when I was like, oh no. And then they're like, I'm voting for Harris.
00:06:24 Speaker_10
How do you know they're Republicans just because they're white and they're men? I'm triggered. There's a stereotype.
00:06:27 Speaker_03
They said it. No, they said it.
00:06:28 Speaker_10
Yeah, and you owned a Subaru Forester.
00:06:32 Speaker_03
I'm just telling you, they said it. They said it. I was waiting for the, ugh, pushback. And then they're like, I'm voting for Harris. And you all convinced me. That's one of the reasons. And they're like, I love John McCain.
00:06:43 Speaker_03
I love, you know, I'm always a Republican. All men. And I literally was expecting some incel nonsense from most of them. So, just was interesting.
00:06:50 Speaker_10
It's so funny because I have, I'm not exaggerating, I have women come up to me all the time and say, I'm now a lesbian because of you. That's good. Anyway, that's good. It's usually an ex-girlfriend. Oh, I'm lesbian now. Oh, okay. Thanks for that.
00:07:05 Speaker_03
I started off lesbian. Watch, I'll turn straight because you're so attractive. Yeah.
00:07:10 Speaker_10
No, no risk there, Amanda. Absolutely no risk there.
00:07:13 Speaker_03
Anyway, I just want to play a quick clip from Instagram of comedian Ami Kozak. He does this bit called if Scott Galloway was a weatherman. Let's listen.
00:07:24 Speaker_06
Uh, what we're facing Wednesday for the forecast is a chance of rain and then an absolute disaster. Uh, it looks like over the weekend, there'll be some rain and mix with some sunshine and then an absolute disaster.
00:07:39 Speaker_06
So if we don't do something soon, I mean, this is catastrophic proportions in which the weather is just going to be an absolute disaster. We're facing absolute disaster. It is just a disaster for young men.
00:07:51 Speaker_10
And I love that kid. I didn't know you guys were going to do that. You know me. I'm a narcissist, so thank you for doing that. It makes me feel nice. Yeah, he's good.
00:08:01 Speaker_03
It's an absolute disaster. He's got you cold. I always love when people make fun of you. It's very fun. They usually got you dead on. Amy, thank you. That was really great.
00:08:10 Speaker_03
We've got a lot to get to on this election day from the last-minute polls to the final campaign pushers, plus our friend of Pivot. This is who we brought in to make you all feel better today because this will be published on election day.
00:08:20 Speaker_03
Dan Harris, host of the 10% Happier podcast. Dan is going to tell people how they can manage some of their election anxiety, including people who, if Trump loses, you guys are going to have to deal.
00:08:30 Speaker_03
So, not that we care very much how you feel, but you're going to have to deal if he loses. Anyway, we're not going to skip our business and tech stories today, though.
00:08:37 Speaker_03
Up first, NVIDIA is replacing, this is interesting, rival chip maker Intel on the Dow Jones Industrial Average this week. The change is being made to, quote, ensure more representative exposure to the semiconductor industry.
00:08:50 Speaker_03
NVIDIA stock was up nearly 3% in after hours trading after the change was announced, which Makes sense. Last week, Intel was down nearly 2%, one of those fallen angels, as Scott calls them.
00:09:01 Speaker_03
Intel also just posted a $16 billion loss for the third quarter, the biggest quarterly loss in the company's 56-year history, brought a lot of charges in that one. But what do you think of this move to put NVIDIA in the Dow? And does it matter?
00:09:13 Speaker_03
Or Dow used to matter a lot more, I guess. I don't know, what do you think?
00:09:17 Speaker_10
Well, I think it does matter because it sends a signal about one company doing poorly and one doing really well.
00:09:24 Speaker_10
And also, I believe there are certain funds, kind of quote-unquote passive funds, that buy the index and they only buy companies in the index. So it puts some selling pressure on companies that are kicked out and puts some selling and buying pressure
00:09:38 Speaker_10
moving the stock up, it's just an indication of how well and how poorly each of these firms are doing, respectively. And it's happened so viciously.
00:09:47 Speaker_10
I think there are a few companies that have been more poorly managed than Intel because typically when you talk about a company- Many leaders.
00:09:55 Speaker_03
many leaders.
00:09:56 Speaker_10
Well, OK, look at Time Warner, for example. That company has fallen really far in that it made a terrible acquisition or merger. It was convinced by Steve Case, who recognized he was sitting on a company that was going to go down 90 percent of value.
00:10:11 Speaker_10
And Steve did his shareholders a solid and said it is time to get out of Dodge.
00:10:16 Speaker_10
and we're not gonna merge with an internet company, we're gonna merge with a company with real old world assets, which are less likely to implode like he correctly foresaw these internet assets, especially a dial-up asset was gonna implode.
00:10:30 Speaker_10
And then since then, essentially Warner Brothers or Time Warner has, Time Warner since going public or doing this merger with Discovery has lost 70% of its value.
00:10:42 Speaker_03
Yeah, I thought Jeff Bukas did very well to sell it. I thought that was kind of a good thievery on his part in that, in getting it over to AT&T.
00:10:50 Speaker_10
Well, Jeff pulled off, there's one kind of person that likes Jeff, and that's shareholders. He sold the magazines right before the magazine industry imploded. He sold the cable business when cable was peaking.
00:11:02 Speaker_10
And this is what's so unusual about this is CEOs have a habit of acquiring and not disposing of assets because traditionally their compensation is linked to how big the company is.
00:11:11 Speaker_10
And then he got the hell out of Dodge when AT&T saw Verizon buy Yahoo AOL and he sold it for $115, $120 billion and now it has an enterprise value of barely half that.
00:11:23 Speaker_10
And the reason I bring it up is that Zaslav can legitimately say, the CEO of Warner Brothers Discovery, he can legitimately say, I have faced enormous headwinds. Now, granted,
00:11:38 Speaker_10
There's no excuse for why he's paid himself a third of a billion dollars while the stock's gone down to 70%.
00:11:43 Speaker_10
But he can legitimately say the market is bigger than any specific company and the market dynamics here around cable and broadcast and ad-supported media have been terrible. What's unusual about Intel is it is a shadow of itself
00:11:59 Speaker_10
and what is arguably one of the best business sectors in history. So where this was a company everyone wanted to work for when I was going out of business school.
00:12:09 Speaker_03
Remember Intel Inside. Andy Grove was the CEO of the century. I covered Andy Grove. The CEO. And they had Mark, they had a whole bunch of people. They did keep shifting after he died. He ran it up the table for years and years and years.
00:12:27 Speaker_03
He was such a character, too. There's a lot there. I think there's a lot of brand there, but you can see how quickly this thing can, you know. topple, but would you buy the Intel now that it's off the dojo?
00:12:45 Speaker_10
If Intel goes below 20 bucks a share, and this is why I've lost a lot of upside, I always think stuff's not cheap enough, I think that at $100 billion market cap, if this company shows they have incredible IP, a lot of patents, they do have a lot of fantastic managers there, they have incredible supplier relationships,
00:13:05 Speaker_10
capital, if this thing shows any sign of life, it doubles or triples. Whereas NVIDIA has to be a $10 trillion company to triple.
00:13:17 Speaker_10
So I think Intel is absolutely, if someone said, I don't own, I do not own either Intel or NVIDIA, but I'm actually looking at Intel because I think any pulse here, any pulse here, the thing doubles.
00:13:32 Speaker_03
You might get a new CEO, we'll see. Anyway, interestingly, Chinese EV company BYD just scored a major victory in its battle for dominance, topping Tesla in revenue for the first time. BYD's Q3 revenue is $28 billion, up 24% from a year ago.
00:13:46 Speaker_03
Tesla recently reported a $25 billion for the same period. Tesla still has a lead over BYD in terms of net profit. BYD is set to face some headwinds with the EU. Recently announced tariff increases on Chinese EVs taking duties as high as 45%.
00:14:00 Speaker_03
Same thing if they come to the US, by the way, especially if Trump takes it. He's going to put tariffs on everybody, including Mexico apparently today. He was talking about fluoride and tariffs for Mexico, crazy stuff. We'll talk about that in a minute.
00:14:14 Speaker_03
You know, BYD also has some very innovative stuff that Tesla does a lot of hand-waving has not introduced the smaller cars, the cheaper cars. You know, talk about it. He's going to continue to increase tariffs on Chinese EVs if Trump wins.
00:14:32 Speaker_03
Trump did soften his anti-EV stance back in August, saying, I'm for electric cars. I have to be because Elon endorsed me very strongly. But I don't know. It just I don't look at this guy felt the last three days.
00:14:44 Speaker_03
We'll talk about it seems addled as can be. So what do you where do you imagine this going?
00:14:50 Speaker_10
There's just no getting around it. BYD, as far as I can tell, is kicking Tesla's ass. In terms of the global EV market, in 2021, BYD had 7%, Tesla had 21.
00:14:58 Speaker_10
By May of 2024, BYD is now at 16%, and Tesla is 17, probably meaning as we sit here now, given this momentum, that BYD likely has a greater share of the EV market than Tesla.
00:15:17 Speaker_10
And my sense is they have figured out a way to deliver what, I mean, the biggest complaint about EVs is a lack of charging infrastructure, and number three is range, but number two is cost. And BYD has cracked the code on this.
00:15:33 Speaker_10
They make what is supposed to be an outstanding EV for, I think... It's adorable, too. Yeah, for something like sub $15,000. Dolphin?
00:15:42 Speaker_03
Really cute.
00:15:43 Speaker_10
I would love to see this thing.
00:15:44 Speaker_03
Every time I see a Tesla, I'm so bored with them now. I mean, even if he wasn't such a chode, I'm like, oh, look at that. And when I get picked up, I'm like, oh, I would like a different car, like a different looking car.
00:15:55 Speaker_03
It feels like, you know when, I don't know, like 1980 wants you back, like kind of thing. I'm like, I've seen this.
00:16:02 Speaker_10
It's a great car, it just hasn't. I like the word used, needs a freshening, a freshen up a little.
00:16:07 Speaker_03
Needs a freshening. And I have to say, some of the other cars I've seen, I'd love to get in one of these Chinese EVs. I'd love to see them. I haven't seen them, because they're not in this country widely. I don't think they're here at all, actually.
00:16:18 Speaker_03
Anyway, we'll see. I think, you know, they're gonna dominate. This is the country wants it to work. they're gonna flood the market eventually. But I think probably Harris will be pretty tough in that regard too, would be my guess.
00:16:31 Speaker_03
Interesting story, I was curious what you thought of this. Comcast is exploring the creation of a separate company for its cable networks, which include MSNBC, CNBC, Bravo, and USA.
00:16:40 Speaker_03
Comcast President Mike Kavanaugh, who I think is very smart, I've spent some time with him, announced the spinoff possibility on the company's earnings call last week.
00:16:47 Speaker_03
He said the new company would be owned by Comcast shareholders and be well capitalized. I don't think they're going to shove a bunch of debt over there. Who knows? Do they have a bunch of debt?
00:16:55 Speaker_03
The NBC broadcast network and streaming service Peacock would remain with the core company. It's sort of more of a cable thing, I guess. Comcast shares gained more than 3% on Thursday after that earnings call. What do you think of this spinoff?
00:17:08 Speaker_03
A lot of people were talking about this, and I thought it was hmm, hmm, hmm.
00:17:12 Speaker_10
It's typically the sign of a company in decline that doesn't think they're getting the credit they deserve, and that is when you're doing really well and you have cheap stock, you go make acquisitions, and then at some point, oftentimes, the synergy doesn't manifest, and all of a sudden, your stock is getting hurt, and the company has good assets.
00:17:33 Speaker_10
But typically, when a company in the conglomerate model, as Comcast is with a mix of businesses and different businesses,
00:17:39 Speaker_10
The way investors evaluate company and structural decline is they say, let's look at the shittiest part of the business and assign that multiple to the whole thing.
00:17:48 Speaker_10
So at the New York Times, we owned about.com, which on its own was worth probably a billion dollars. We owned the tallest, seventh tallest building in America that was worth close to, I think, I forget what it was worth. It was worth a lot.
00:18:00 Speaker_10
At some point it was worth more than the paper. So I'm like, are we a REIT or are we a newspaper company? We own 17% of the Boston Red Sox, which made no fucking sense.
00:18:09 Speaker_10
So, when you pull these assets out, especially when a stock's price has been under pressure, the disposition of assets are accretive because essentially there was no multiple on... There was no EBITDA from the Boston Red Sox, so we got no credit for it, for owning a baseball team.
00:18:28 Speaker_10
Meanwhile, some midlife crisis guy was going to show up and pay 100 or 150 million. Or you could spend, I wanted to spend about.com because I'm like, we could get a billion dollars to this thing right now. And then, so this is a smart move.
00:18:43 Speaker_10
And so what they do is, and all that, it creates a cleaner story. Investors like a clean story because this is what CEOs do. They claim their synergy, but there's not usually.
00:18:53 Speaker_10
Usually what they're trying to do is they're trying to say, I hate being responsible for one type of business that is volatile.
00:19:00 Speaker_10
and I like to smooth out my earnings, so I'll buy assets, which will increase the size of my business, which likely gives me bigger compensation, because my compensation is based on the size of my business, and then it makes my life a lot nicer.
00:19:11 Speaker_10
But here's the thing, investors, in their way, in their own way, via a stock price, will say to the CEO, I don't need you to diversify for me, unless there's real synergy here.
00:19:20 Speaker_03
Yeah, I can do it myself. Let me ask you, why isn't NBC in this? I don't quite, is NBC in this? No.
00:19:28 Speaker_10
Now, the spinoff would not include streaming service PCOP or broadcast network NBC. I guess they see- Why?
00:19:34 Speaker_03
Because MSNBC picks up stuff from NBC and so does CNBC. I don't know. It seems that's the confusing part.
00:19:41 Speaker_10
The only thing I can figure out is one of the Roberts is very affectionate around NBC and doesn't want to, I don't know, that they see it as too core or too central to the whole brand positioning.
00:19:52 Speaker_03
It doesn't make any sense to me. Pretend you're him. He's a lovely guy, by the way. Pretend you're him.
00:19:58 Speaker_10
I'm a billionaire that's going to be dead in 20 years, and I get to do things I enjoy, and I enjoy having NBC as part of this. I don't know. It doesn't make any economic sense to me.
00:20:06 Speaker_03
You would put it in there, I would think. I can see why the streaming service stays, because it's part of a cable offering, but they didn't have a relationship with them.
00:20:15 Speaker_10
Basically, what they're doing here is kind of good bank, bad bank. And that is, the bad bank is these companies in structural decline that have really good cash flows. All right, people know how to value that.
00:20:24 Speaker_10
The good bank is a streaming service that has some, you know, has some, momentum, and these things trade at a much higher multiple. And those things lose money, but the market will afford some capital, or at least more capital.
00:20:38 Speaker_03
I guess because if you're keeping Peacock, you have to keep NBC for the entertainment assets.
00:20:43 Speaker_10
This is what Warner Brothers Discovery is going to do after Comcast, which is considered a better managed company, does. Warner Brothers Discovery will do the same thing. They'll go good bank, bad bank.
00:20:52 Speaker_10
The bad bank will be all of their cable assets, all the Discovery stuff, CNN, the Turner Network, all that stuff. And then they'll take HBO and they'll take Warner, the movie company, which has a lot of IP and can feed stuff directly into HBO.
00:21:07 Speaker_10
They'll say, this is the good bank, which will trade at a higher multiple because it's a growth company and has more definitive or defensible assets. This is the bad bank.
00:21:15 Speaker_10
And by the way, the bad bank is still a good, might be a good investment because these companies still create, generate a lot of cash flow.
00:21:21 Speaker_10
But when you mix companies of different ages, if you will, or different investor complexions, unless you can really, really justify the synergies there, the market goes, I don't like it. I can't figure it out. I'll go buy Netflix, which is a pure play.
00:21:37 Speaker_03
Pure play, right. Or I'll go buy,
00:21:40 Speaker_10
Or I'll go buy Gannett, which is a shitty company still spending cash flow in the New York Times. Right.
00:21:45 Speaker_03
Yeah. All right. OK, well, good explanation, Scott. OK, let's go on a quick break. We come back. It's finally Election Day. How close are we to the end of the race? Hopefully soon.
00:21:55 Speaker_03
And for everyone who's anxious right now, our friend of Pivot, as I said, is Dan Harris on how not to drive yourself crazy today. Support for this show comes from Arm. Have you ever thought about the technology that makes this podcast possible?
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00:24:04 Speaker_10
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00:24:54 Speaker_10
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00:25:12 Speaker_03
Scott, we're back. It's a day we've been anxiously waiting. Roughly half of the 2020 electors has already taken advantage of early voting, including Republicans. They're voting early now because Donald Trump has decided it's not evil.
00:25:22 Speaker_03
But today is the last day to cast your vote. Have you voted already? Oh, yeah.
00:25:25 Speaker_10
Yeah, I voted. I had a weird experience. This is how old I'm getting. I'm in Florida. And I thought, oh, this would be nice. And I went to
00:25:36 Speaker_10
the place behind the tennis courts in Delray Beach, and I walked in to do my voting thing, and I walked up and they said, they said, it says you've already voted. And they looked at me like I was trying to vote twice. And I said, are you sure?
00:25:49 Speaker_10
And they're like, yeah, we received a mail-in ballot nine days ago. I'm like, oh, fuck, I've already voted. I totally forgot I'd already voted. So I tried to vote twice. The Republicans are right, it's a conspiracy.
00:26:01 Speaker_10
I'm literally the person there, but it's my age. It's my early onset Alzheimer's.
00:26:08 Speaker_00
There's no conspiracy there.
00:26:09 Speaker_10
And just so you know, they knew right away. They turned around and they're like, yeah, you had a mail-in ballot and we received it. eight days ago at 11, you know, 11 31 a.m. And here's your signature. And I'm like, oh, never mind.
00:26:23 Speaker_03
Thank you for your service. I hope you voted for the right person, Scott. I am going to go to the I love going on Election Day. And we're taking Claire. I used to take my boys every year to vote.
00:26:34 Speaker_03
I think it's really important to take kids to vote to make them understand the privilege that we have. So Amanda and I are going to take Clara. Both sons voted also, by the way, early. Congratulations, Alex, on your first election.
00:26:44 Speaker_03
Congratulations, your first presidential election. I'm very pleased that you voted in this important state. But Vice President Harris will watch election returns at her alma mater, Howard University, here in the D.C. area.
00:26:56 Speaker_03
Former President Trump has a watch party, where do we guess it? West Palm Beach. What are you going to do the night with hours left in the race?
00:27:04 Speaker_10
I think I'm going to go out because I'm going to try and not watch. I say this and I won't be able to do it, but the plan is I'm going to go out and I'm going to get up really early on.
00:27:13 Speaker_10
I mean, we were four hours ahead, now we're five hours ahead because I guess you guys fell back yesterday. But I don't want to look at it until Wednesday.
00:27:23 Speaker_00
Yeah, close to the end.
00:27:24 Speaker_10
I find that I remember in 2016 when I was following it and essentially I can do math and they showed all these Florida counties and I go, Oh, I'm immediately I could tell Florida is going to Trump. And then I did the broader math.
00:27:38 Speaker_10
I'm like, Trump's won. And it was fairly early in the evening. And the thing I don't like about it is they try and create tension as if no matter, you know.
00:27:47 Speaker_03
Yeah, they do. That noise they make.
00:27:49 Speaker_10
Oh, and then they go to some reporter on a basketball court in a high school gym saying, we just found someone who's not that smart to talk to us about what they think about the election.
00:28:00 Speaker_03
Exactly. I'm going to watch Menendez documentaries.
00:28:03 Speaker_10
It reminds me of the IPO of Meta. This was like, I don't know, six or eight years ago. I was on with Stephanie Roll when she was still at Bloomberg and Alex Ohanian, the co-founder of Reddit.
00:28:15 Speaker_10
It was supposed to go public at the open and there was a technical glitch and it didn't go public till noon. So we sat on air for two and a half hours trying to talk about Meta.
00:28:25 Speaker_10
And the producer kept coming out on a break and going, I'm sorry, maybe talk about WhatsApp. And me and Alex were sitting there like, we're out. We thought we were gonna be here for six minutes and we're supposed to talk about this shit.
00:28:37 Speaker_03
Anyways, it was Stockholm syndrome.
00:28:38 Speaker_10
I'm convinced that's why Stephanie Ruhle and I like each other so much. We have literally been-
00:28:43 Speaker_03
Let's get back to the election. With hours left in the race, they're neck and neck apparently in swing states according to the final New York Times-Siena poll. More specifically, it shows Harris marginally ahead in Nevada, North Carolina, Wisconsin.
00:28:55 Speaker_03
The poll has Trump slightly ahead in Arizona. Michigan, Georgia, Michigan is more Harris actually, Georgia, Pennsylvania, Georgia and Pennsylvania are extremely close.
00:29:05 Speaker_03
One surprise, a separate outlier, Iowa polls showing Harris three points ahead of Trump in a state he's won twice.
00:29:10 Speaker_03
This is not a state that was even considered being played, but the pollster is one of the most respected, the one who is not an irritating chode. J. Ann Seltzer, she is considered the best pollster in politics.
00:29:22 Speaker_03
And then there, of course, is Scott's favorite poll, which I do not agree with. Trump media stock price up 54 a week ago, down in the low 30s and headed down as we head into election day. You may use that.
00:29:32 Speaker_03
I'm not going to use that or the predictions market. So thoughts, right? Top line thoughts.
00:29:38 Speaker_10
Well, first off, that's misinformation. My favorite poll is a short one that has an on switch and then I stick it up my ass. That's good. That's good. All right. Anyways, maybe I should try that. I'm so stressed out. Anyways, Xanax and Aspley. There you go.
00:29:54 Speaker_10
That's a peanut butter and chocolate. You asked me what I was going to do tomorrow night. There you go. That's my Tuesday night, and it's not just election week either. I don't even remember the question I got so excited about.
00:30:08 Speaker_03
Stop laughing at your jokes, Elon Musk. Let's go. Okay. What are your overall thoughts? Because I'm going to move on. I've got to be honest.
00:30:17 Speaker_10
Jess Tarloff had the exact right term to describe my mood. I'm nauseously optimistic. Okay, nauseously optimistic. Cara, I was bereft about seven, eight days ago. The momentum is squarely in Harris, on Harris right now, or for Harris.
00:30:32 Speaker_10
And this poll, this Seltzer individual is probably the best pollster in the nation, hands down, in terms of her ability to predict stuff over the last eight or ten elections, and she has Harris up three to four points in Iowa.
00:30:47 Speaker_03
And in addition... I think it's all over the place. It's whether it's happening in other states nearby. That's the idea.
00:30:54 Speaker_10
I thought that's pretty interesting. And two, I think his media coverage lately has just been horrible. I think he looks old. Horrible. And crazy shit.
00:31:07 Speaker_03
The crowds have you. There's a lot of videos of the crowd this morning in North Carolina is half full. All his all his venues are half full.
00:31:14 Speaker_03
And that's not just Kamala Harris, like trolling in which she is, but they're actually half full in several places.
00:31:20 Speaker_10
And name one good thing that's happened for him in the last five days.
00:31:24 Speaker_03
Nothing. Fluoride with Robert Kennedy Jr. What the fuck is that guy keeps showing up saying, don't drink Gatorade, mayonnaise or fluoride. Like, what the fuck? Like, have you seen that?
00:31:33 Speaker_10
All of these self-inflicted wounds, Tony Hinchcliffe.
00:31:36 Speaker_03
Hinchcliffe, and then the MyPillow guy, Al Capone and the MyPillow guy with Trump. I was like, what are you doing, Grampy? Go back in the hole.
00:31:43 Speaker_10
But these are unforced errors. You could have said about RFK, we're going to have them on the environment. It would have softened them. Instead, they said, we're going to put this guy in charge of vaccines and also women's bottles.
00:31:51 Speaker_10
I mean, all of these self-inflicted injuries that they don't. And also, I've heard, I have friends canvassing in Pennsylvania, and they run into other canvassers from both sides.
00:32:03 Speaker_10
They said the number of canvassers in Pennsylvania right now is running, people getting kind of souls to the poles, feet on the street, is 10 to one Harris canvassers. Yeah.
00:32:14 Speaker_03
They pay people, they pay them unlike the Elon Musk crowd. He's outsourced everything to Elon Musk, which is, he's running there, at this way, it looks like he's running it like he's running Twitter and not Tesla or SpaceX.
00:32:26 Speaker_03
It's the Twitter Elon running this, not the SpaceX. SpaceX Elon, who is very competent. It does not mean the madness is going to slow down, though.
00:32:35 Speaker_03
The elections, everything from the FCC to Cardi B, who gave Elon a real slap in the head, which she's so, you know, turns out she was like in AP history.
00:32:43 Speaker_03
She never talks about her academic career, but all her teachers were like, she's the smartest kid we had. grew up from very humble background, and she whacked Elon Musk hard in the head over on Twitter.
00:32:54 Speaker_03
But NBC gave Donald Trump free airtime during Sunday's NASCAR race in order to stay compliant with the FCC's equal time rule.
00:33:01 Speaker_03
The move came after Trump appointed FCC Commissioner Brandon Carr, who is such, I'm sorry, he's just such a, he's so thirsty, claimed Kamala Harris' Saturday Night Live appearance this past weekend violated the rule. Fine, Brandon.
00:33:14 Speaker_03
You were so thirsty.
00:33:14 Speaker_10
I don't have a problem with that.
00:33:16 Speaker_03
He was all over the airwaves. He could just upset it and not like, he's thirsty. Anyway, we can talk about the relevance of equal time and broadcast in just a second, but it's interesting comparison to see how each candidate use their time.
00:33:26 Speaker_03
First up, Kamala Harris on SNL. Maya Rudolph was doing her regular Kamala Harris impression, which is fantastic. And the vice president popped up to play her mirror image. Together, they poked fun at Donald Trump's recent stop in Wisconsin. Let's listen.
00:33:40 Speaker_08
Nice to see you, Kamala. It is nice to see you, Kamala. And I'm just here to remind you, you got this. Because you can do something your opponent cannot do. You can open doors. I see what you did there. Like to a garbage truck, right?
00:34:00 Speaker_03
Next up, Trump campaign commercial that aired after NASCAR race.
00:34:04 Speaker_00
We've never seen anything like it, at least for the last 40 years. We have to straighten out our country. We have to close our borders. We have to lower our taxes. We have to get rid of inflation. And we're going to do it.
00:34:17 Speaker_00
Just remember, Kamala and her friends broke it. I'll fix it. Most important election in the history of our country. Go and vote.
00:34:26 Speaker_03
Wow. OK, equal time for both and that we give them here at Pivot. I thought that was terrible, but whatever.
00:34:32 Speaker_10
They were both strong.
00:34:34 Speaker_03
I don't know.
00:34:35 Speaker_10
Trump hit the notes at his base once and that's what people want to hear. That was strong.
00:34:38 Speaker_03
I guess. In any case, she was funnier. The equal time rule requires broadcast stations and candidates comparable opportunities to appear on the air this close to the election. I think that's one of the things, seven days.
00:34:48 Speaker_03
It doesn't mean they have to be on the same show or that they have to give advance notice. But in any case, they did that. And I did think Gaumont was charming. I don't know about you. I thought she was terrific in that.
00:35:00 Speaker_10
You got to think, okay, I'm going to go out on a limb here and assume that the majority of the SNL writing staff leans progressive.
00:35:08 Speaker_10
A bunch of Harvard-educated people who live in New York writing for SNL, I'm just going to go out on a limb and assume that they're probably progressives. they got the assignment.
00:35:16 Speaker_10
They sat down and said, we need to make her look likable, funny, intelligent, deposition him. And the writers there, wow, they showed up. That is not an easy thing to do. That was really well done.
00:35:31 Speaker_03
Can I say, I thought she did, because when Hillary's been on, it's been a little stiff. When other people have been on, it's been a little stiff. I thought she handled it beautifully. I was surprised by how adept she was.
00:35:42 Speaker_03
She usually can be a little awkward, but She was quite good. I think she likes Maya Rudolph. I think there was a real rapport between them. I thought that worked really well. It was interesting. And I also think that she also looked good.
00:35:55 Speaker_03
I hate to say that, but she looks younger than he does. She looks significantly more attractive. Yes. And I know that's dumb, but it's a thing. It's a thing.
00:36:04 Speaker_10
Dumb?
00:36:04 Speaker_03
I'll work for Newsom because he's handsome.
00:36:09 Speaker_10
What do you mean dumb?
00:36:10 Speaker_03
It matters.
00:36:11 Speaker_10
It's hugely important.
00:36:12 Speaker_03
Well, it does. He looks really old. It's hugely important. Really old. It looks really saddled and old. But interestingly, speaking of his top surrogate, Elon Musk, as I noted, Cardi B in here fighting.
00:36:23 Speaker_03
Musk called the rapper a puppet following her endorsement of Harris in Wisconsin last week. Her response, I'm not a puppet, Elon. I'm a daughter of two immigrants' parents who had to work their ass off to provide for me. P.S. Fix my algorithm.
00:36:34 Speaker_03
And she didn't say please. On the latest episode of On with Kara Swisher, I assembled a panel of experts to look at Elon's role in the election. I thought that was the perfect thing for my show because he's been so active.
00:36:44 Speaker_03
I got the reporters who have broken a lot of these stories, whether it's on Putin or all manner of things, the million-dollar giveaway, whatever.
00:36:53 Speaker_03
Reporter Zoe Schiffer talked about how Elon's ex-management provides some hints about his potential future in government if Trump wins. Let's listen.
00:37:01 Speaker_05
From Elon's perspective, he's like, look, I got rid of all these people, I saved all these costs, and the platform is still relatively functional.
00:37:08 Speaker_05
But it's one thing to have a relatively functional Twitter or X, it's another to have a semi-functional government. And I think him deploying these same techniques in the US government is a much scarier prospect.
00:37:23 Speaker_03
Anyway, we talked about a range of things. As I said, I think it's the Elon election, you've talked about it being the podcast election, probably it's both. His on the ground canvassing efforts, as you noted, seem completely disorganized.
00:37:38 Speaker_03
Lots of stories of putting people in trucks without windows, without seats, and stuff like that, and not paying them and stranding them in Michigan. Do you think if he loses, I suspect they're gonna point a lot of fingers at him.
00:37:52 Speaker_03
And Trump, of course, but him in particular. I don't know. What do you think? Is this? Yeah, it must. Do you think? Or what do you think? We all concluded that he'll be fine in either administration.
00:38:02 Speaker_03
He'll be more irritating in the Trump administration and dangerous. But in the Harris administration, he's done rather well in the Biden administration, by the way. So what are your thoughts of where he goes in each scenario?
00:38:16 Speaker_10
we talked about in this last episode, that's the problem with autocratic tendencies is that it pays to support the autocrat because there's, you're right, there'll be no downside for him as far as I can tell if Harris wins.
00:38:29 Speaker_10
And also, I think if Harris loses, people are going to correctly, in my view, blame Biden's narcissism and the Democratic Party's consensual hallucination that this guy had any business running for reelection.
00:38:43 Speaker_10
And two, a huge tactical error, not rising to the level of why she didn't do better than she did in retrospect, It was a huge tactical error for Biden not to kiss Elon's ass. And I know that sounds I know we want to say I agree.
00:39:01 Speaker_10
I know we want to say good for them. They don't they don't kowtow to Elon to have an EV summit and not invite him. Keep in mind, Musk did vote for Obama. And neither of us are fans of Elon Musk.
00:39:16 Speaker_10
He's an outstanding surrogate for Trump because there are few people in this nation or globally who more young men look up to. And he's robust, he's in it, he's unafraid, he's out there for them.
00:39:31 Speaker_10
It's just too bad, and another talking about unforced errors, it's an unforced error that Biden didn't kiss his ass and do what everyone does for Trump, and that is kiss his ass to get him on his side.
00:39:42 Speaker_10
But if he loses, I don't, my sense right now, Musk, is, okay, Twitter, he's got the value by 75%, but SpaceX is on a roll. SpaceX is on a roll. One of the most seminal images
00:39:58 Speaker_10
I mean, quite frankly, I think two of the most... The images of the year, I think it's a toss-up between Trump pumping his fists in the air after the failed assassination attempt, or that rocket being captured by those metal chopsticks, and that's Trump and Musk.
00:40:17 Speaker_03
Although I give you a third, the picture of Kamala Harris's niece looking up at her. I thought that was a beautiful photo. Do you know the one with her hair? I know what you're talking about. It's beautiful. That was a beautiful picture.
00:40:29 Speaker_10
It kind of depends who wins, right? What will be seen as the image of the year.
00:40:33 Speaker_03
Oh, I think the Trump one was quite a picture. I mean, I'm talking just pictures. I think those two, to me, Harris with Agnese and Trump, I thought those were the most important political pictures of the year.
00:40:47 Speaker_10
Yeah, I think one's more sweet than historic, I think. Anyways, but there's no getting around it.
00:40:51 Speaker_10
Musk is an outstanding surrogate for Trump, and it was a self-inflicted wound that we shouldn't have made to alienate him the way the Democratic Party did.
00:41:01 Speaker_03
And I'll put some insight in here. When that happened, two things. I heard from Musk a lot about it. He was like, why are they doing this? This is shitty. He could not stop talking about it in a very manic way, I would call it. We were speaking then.
00:41:16 Speaker_03
And I was sort of perplexed. I was perplexed too. I was like, huh, you kind of do, even though you're an egomaniac, you kind of deserve that one. And I was like, well, it's the union thing, I assume. But he wasn't taking any of that.
00:41:27 Speaker_03
I was like, it's the union thing. Don't get your nose out of joint. And which made sense to me. But then and when I actually called people in the Biden administration, I'm like, this was a big fucking error. This guy is pissed. They're like, oh, come on.
00:41:39 Speaker_03
He's not that pissed. He gets it. I'm like, no, no, he's pissed. Like I said, this is not a normal person. And he's not he has normal emotions. He thinks he's the father of all electric cars at this moment. And so well, he kind of was.
00:41:53 Speaker_03
Well, no, but technically no, but yes, yes, he was the one that pushed it through.
00:41:57 Speaker_10
I'm sorry, we're going to have an EV summit and invite the person in charge of the Pontiac Leaf, but not Tesla.
00:42:01 Speaker_03
I know that. I get that. I get it. This is what I said to the Biden people.
00:42:06 Speaker_03
And I thought it was an error the whole time, although I thought they traded a very short term thing, which is the unions being angry at him and one being Musk being, and I always felt Musk was more dangerous than the unions to them.
00:42:18 Speaker_03
But you're right, that really was a moment for him, and he overdid it at the same time. He could have gotten over it, but he wasn't going to if they understood him as a character, and he really does have a Jesus complex.
00:42:29 Speaker_03
So in any case, we will see what happens. Let's bring in our friend of Pivot. Dan Harris is the host of the 10% Happier podcast. Welcome, Dan.
00:42:44 Speaker_07
Thanks for having me. It's so weird. I'm sure you hear this all the time. So weird to be on a show that I've listened to for so many years.
00:42:51 Speaker_03
Oh, well, welcome. We're so thrilled you're here. And I am 15% happier right now for you to be here. Anyway, because we're here on Election Day. This is published on Election Day. We want to share some numbers.
00:43:01 Speaker_03
69% of American adults say that 2024 election is a source of stress. That's mostly Scott Galloway in that survey, but it's a survey of the American Psychology Association. 72% are worried that the election results could lead to violence.
00:43:16 Speaker_03
I am too, actually, shockingly. I usually am not that way. So let's start off sort of high level. What's your advice for people, specifically Scott Galloway, in terms of managing stress and anxiety on Election Day and the days that follow?
00:43:28 Speaker_03
On both sides, please.
00:43:29 Speaker_07
I mean, Scott, whose career I follow quite closely, is actually doing the thing that I would recommend as a first step. There's a great expression. I did not come up with this, but the expression is action absorbs anxiety.
00:43:45 Speaker_07
So I follow Scott on social media. He's out there talking about what he believes, and he's taking action. And we all have the capacity
00:43:53 Speaker_07
to exert our agency, even though, of course, none of us can single-handedly affect the outcome or control the outcome for sure.
00:44:03 Speaker_07
But you can take action by joining a campaign or doing what Scott does, is speaking out publicly to the extent that you have that capacity. It doesn't even have to be related to politics, however.
00:44:13 Speaker_07
You can just volunteer at a soup kitchen or an animal shelter. You can just be more useful to the people in your environment. There's a little, you know,
00:44:21 Speaker_07
little inner inquiry I ask people to do, which is, what does it feel like when you hold the door open for somebody? It feels good if you're paying attention, and that feeling is infinitely scalable.
00:44:32 Speaker_03
I like that idea. You know, it's interesting. A lot of my friends are who are driving me crazy, actually, because they're very stressful people. They've all gone out canvassing, and they are so much happier.
00:44:42 Speaker_03
Even if they see people who don't agree with them, every one of them is now not irritating in the way they were, which was interesting. So you recommend wearing a team sport. Can you explain that?
00:44:53 Speaker_07
I mean, we're doing that right now. This is based in an enormous amount of evidence. So just for some context, there is this study that you guys may have heard of, the Harvard Study for Adult Development.
00:45:06 Speaker_07
It's been going on for nearly 90 years, and they've been following. several generations of families in the Boston area to try to figure out what contributes to a long, happy, and healthy life.
00:45:17 Speaker_07
And the number one variable is not sleep or exercise or whether you're achieving ketosis. All of those things, I guess, are helpful, but the number one variable is the quality of your relationships. That is what matters most. Why?
00:45:35 Speaker_07
Because stress is generally what kills us. And the most effective way to regulate stress for a social species, such as Homo sapiens, the most effective way is through quality relationships. Hence the expression, also not mine, never worry alone.
00:45:50 Speaker_07
Make your anxiety a team sport. Call your mom, call your friends, talk about it with people who you respect. That is, I think, probably the best way to get through this.
00:46:01 Speaker_03
Interesting, so Dan, essentially you are a less neurotic, friendlier, better haired person than Scott, but you're the same person. So here you are, Scott, ask your question. You're his doppelganger in a weird way.
00:46:14 Speaker_10
Yeah, so let me just say, I love Dan and his content, and I'd steal your sayings. I'd say I'm 10% more Jewish now. Yeah, I heard you say that, actually. And, but your content for me is a little too optimistic.
00:46:30 Speaker_10
I don't like that part of it, but what has really moved me with your content is you come across as just so shit together and like the guy you would want in a crisis.
00:46:41 Speaker_10
Like, you remind me, like, if you're ever in a movie, you're gonna be that medic on D-Day just running from injured person to injured person. You come across as so, quite frankly, just shit together and can handle everything.
00:46:53 Speaker_10
And you've been very transparent about your struggles and anxiety. Even so much, I've seen videos of you deplaning because you were having a panic attack.
00:47:04 Speaker_10
And I think it's really important that people see who they perceive to be very strong men having that sort of vulnerability. So, for those of us who do struggle with anxiety, what...
00:47:20 Speaker_10
Talk a little bit about your struggles with it, where it's happened recently, and what kind of cognitive therapy or behavioral therapy you've incorporated that has helped you.
00:47:31 Speaker_07
Well, thank you for that. One of the little jokes I make is that some people teach from the mountaintop and I teach from the fetal position. I'm not some sort of perfected being.
00:47:45 Speaker_07
And occasionally people will say to me, you know, you're pretty anxious for a meditation guy or a happiness quasi expert. And my answer is you have the causality wrong. I am into meditation and well-being because I'm so anxious.
00:48:02 Speaker_07
And, you know, I don't think there's anything wrong with that. I think this is, first of all, we're at a time where we have unprecedented anxiety in our culture. But the good news is there are ways to treat it.
00:48:15 Speaker_07
I'll talk about two that have been very helpful for me. Not only am I anxious, I also have panic disorder, so that can show up in public speaking or in claustrophobia, so on a plane or in an elevator.
00:48:27 Speaker_07
Two things that are helpful for me are, one is called exposure therapy, and this is just everyday bravery. being afraid of something and doing it anyway, saddling up anyway, and approaching the things that scare you.
00:48:43 Speaker_07
As counterintuitive as this is, if you can carefully and slowly and systematically approach the things that scare you, that is the way through anxiety for many people, myself included. and especially with panic.
00:48:57 Speaker_07
So elevators have been tough for me historically. And so I'll ride an elevator at the Westchester mall with my shrink for an hour and it's uncomfortable, but that's how you get over it.
00:49:08 Speaker_07
The second thing for me is learning how, and to me, this is just so radically powerful and such good news that you can rewire the way you talk to yourself. And so for me, just learning to,
00:49:25 Speaker_07
talk back against my inner critic or my inner anxiety dragon to channel my capacity to mentor other people and direct it toward myself has been really helpful.
00:49:38 Speaker_03
So social media, of course, can be a source of stress, and people will likely be doom-scrolling, as they do all the time now. Is it helpful to take a break or not?
00:49:49 Speaker_03
Because I think people can't, or news, more than just social media, but news consumption, like every little moment.
00:49:56 Speaker_07
Yes, this is a short answer. The slightly longer answer is we all have to make the call individually.
00:50:06 Speaker_07
But it's about, for me, it's about drawing the line between being an engaged citizen, an informed citizen, which is important, and being a crazy person. And we have to figure out how much is enough, how much can our nervous system handle.
00:50:22 Speaker_07
To me, one of the most powerful tools in terms of gauging this, in terms of walking this line, is mindfulness, which is, of course, the fruit of mindfulness meditation, which helps you have more self-awareness so that you might notice, oh, yeah, I'm on hour eight on x slash Twitter, and I'm typing in all caps.
00:50:42 Speaker_07
Maybe it's time to put this thing down and take a nap. or, you know, my stomach is rumbling, I haven't eaten, whatever it is, to have the self-awareness of what's happening in your body and mind so that you're not owned by it.
00:50:55 Speaker_07
Mindfulness is very helpful in that way, especially as it comes to the titration of your news consumption.
00:51:02 Speaker_03
Scott?
00:51:04 Speaker_10
So Dan, your career was, I mean, you essentially rose to be, I think, either the anchor or the co-anchor of Nightline, is that right?
00:51:13 Speaker_07
Yeah, one of the co-anchors of Nightline.
00:51:16 Speaker_10
So that's a pretty big seat.
00:51:19 Speaker_10
And the majority of the anchors I know from broadcast television, whenever I speak to them, they're complaining about just how shitty their career and compensation and prospects have become because that business is melting.
00:51:34 Speaker_10
and you managed to transition to, I think you actually have a bigger footprint right now than you used to, maybe. You're one of the few that kind of, you know, got out of, you know, made it out. What advice, well, let me go back.
00:51:50 Speaker_10
What were the pivotal moments and how did you manage to do that successfully when so, quite frankly, just a lot of people have had a really difficult time transitioning out of old media into new media?
00:52:04 Speaker_07
I mean, it's brutal in old media. I'm not telling either of you anything you don't know. And I started to really think about this many years ago. I remember as early as 2008, 2009 thinking, I better build a personal brand.
00:52:22 Speaker_07
And I didn't know what that was going to be. At first, I had a little show on YouTube about indie rock. I'm a big indie rock fan. That show did horribly, and most of the comments were really, really negative. So I ended up euthanizing that.
00:52:36 Speaker_07
And then I, around the same time, I was starting to get interested in meditation and mindfulness. And I had this entrepreneurial sense that, yeah, there's a lot of science that shows that this stuff is really good for you.
00:52:49 Speaker_07
And most of the books I'm reading about this are really annoying.
00:52:52 Speaker_07
And so I thought, well, let me write a book that tells really embarrassing stories and uses the word fuck a lot and see if I can get people who otherwise would reject this material interested in it. And yeah, so that became a book called 10% Happier.
00:53:08 Speaker_07
And that ended up sort of swallowing my life. And I spent a lot of time trying to do two things at once, maintaining my career at ABC while becoming this traveling evangelist for meditation. And most of that was kind of based in fear.
00:53:24 Speaker_07
But eventually, a couple of years ago, I was able to make the leap and retire and just do this full time.
00:53:31 Speaker_10
When did you start the pod?
00:53:33 Speaker_03
Yeah, how did you start? What advice would you give to people still there? I bet they call you, correct?
00:53:38 Speaker_07
Yeah, I mean, I hear about this all the time. I think I did it incorrectly in that I waited too long to leap. But I think you can start developing your personal brand while you are within the belly of the beast.
00:53:57 Speaker_07
And there's a way in which being associated with a major organization, for me, it was incredibly helpful. I was employed by Disney, which owns ABC News, and that allowed me an enormous, that gave me just a huge platform from which to build.
00:54:12 Speaker_07
So I think it's possible to do this straddle, but the good news, and I'd be curious to hear from the two of you, but my reading of the media landscape is that while it's largely a blightscape,
00:54:25 Speaker_07
The one bright area is what the three of us are doing, which is building a brand around a distinctive voice and figuring out what you can add and then building around that. Now, there's never been a time better than right now for that.
00:54:41 Speaker_07
Would you agree?
00:54:43 Speaker_03
Yeah, absolutely, we love it. We never done better, I think, right, Scott, don't you think, in a lot of ways, or happier? We're at least 10% happier.
00:54:52 Speaker_10
We're gonna need a bigger boat. The bottom line is you can have a third of the audience that you used to have, but it requires a 10th, if not a 20th of the resources, making it a much more profitable economic venture.
00:55:10 Speaker_10
And I mean, I can't imagine the infrastructure you had to have around you to produce Nightline. And you can garner maybe 50% of the audience or a quarter of the audience.
00:55:19 Speaker_10
You have a top 200 podcasts on a fraction of the resources, making it a better economic model. Having said that, the unfortunate thing about podcasting, which is taking over everything that's been digitized, is there's tremendous inequality.
00:55:30 Speaker_10
And that is, you're talking to three people who are in the top 200 podcasts of a world that produces 600,000 a week. So if unless you're in the 0.001 percent, this is a brutal industry as well. But if you get there, it's where media is headed.
00:55:45 Speaker_10
It's just a better economic model.
00:55:47 Speaker_07
Yeah, but podcasts are- We're all so happy. Podcasts, and happier, I totally agree with you, Cara. Podcasts are really brutal.
00:55:57 Speaker_07
However, I do think social is a place that's become more democratic in that as we've moved from the social graph to the interest graph, I can create a video with very few followers that reaches millions of people because the algorithms have changed recently.
00:56:16 Speaker_07
I think there are places where you can build an audience that would be easier, more hospitable than the podcast space.
00:56:23 Speaker_03
Yeah, absolutely. All right. A couple more questions about the election. I have just two more for parents out there. How can we avoid passing our anxiety on to our kids? We have a lot of kids. I don't know if you have kids, but I assume you do.
00:56:35 Speaker_03
And what will you be doing on election night to stay calm as you're maybe you're not watching results? Scott is not what he's going out. I am not going out at all. And I'm going to read.
00:56:47 Speaker_07
You're avoiding it, Scott.
00:56:50 Speaker_10
Well, I live in London, and generally speaking, this really does, I don't know if I'm older, and so I have a better perspective on how important this election is, or I'm just older and more stressed, but because I'm not going to know anything on Wednesday morning, tomorrow night, I'm just going to, I'm going out with some buddies, and I'm just going to enjoy myself, and I'm going to wake up Wednesday morning and freak out then, but yeah, I'm not going to engage.
00:57:12 Speaker_10
Oh, I'm going on Brian Williams on Amazon for a few minutes, but other than that, I'm not going to engage.
00:57:17 Speaker_07
Karen, you're going to read?
00:57:19 Speaker_03
I'm going to read, too. I'm interviewing some historians right after the election, so I'm reading history books. That's what I'm doing.
00:57:25 Speaker_10
I think you're totally posing. I don't believe you.
00:57:27 Speaker_03
I will watch TV.
00:57:28 Speaker_10
I think you're going to have eight TVs on.
00:57:30 Speaker_03
No, just one. Just one, and I'll flip them on. I think I'll watch Rachel Maddow.
00:57:34 Speaker_10
I'm going to read poetry and go to the classics.
00:57:35 Speaker_03
No, I'm not going to read poetry, but I'm not going to a party. That's for sure. I'm not going out because I just can't. I just can't do it. There's lots of parties, but I'm not going to any of them.
00:57:44 Speaker_07
What are you doing, Dan? So just to respond to all of that, first of all, I think it's great to do whatever is in your best interest to keep yourself sane.
00:57:54 Speaker_07
And as a parent myself, I have a nine-year-old, that is what osmotically is likely to land for your children. Better than any lecture you could give them is taking care of yourself in a way that they observe and will, I think, absorb.
00:58:10 Speaker_07
And in terms of history, there's some evidence that reading history actually is a balm in the face of our current tumult. Because you can start to see that we've been through horrible stuff before. Would you rather be where we are right now?
00:58:28 Speaker_07
or on the lip of World War Two or the Civil War. Personally, I'll take today. So I think I hear a lot of wisdom in both of your election evening plans. And also, Scott, I'll be on with Brian Williams as well.
00:58:42 Speaker_10
Oh, I'm going I'm on it like 4 a.m. They know they have you up first.
00:58:46 Speaker_03
It's as tight as a tick in a da-da-da. He'll have a million of those, right?
00:58:50 Speaker_10
He'll be like, that's like watching a moose drive a convertible. And everyone's like, I don't know what that means, but it sounds good.
00:58:56 Speaker_03
You know, you guys are going to the nicest place. Mr. Williams is very calming. I think that's a good choice.
00:59:02 Speaker_10
They have to have you on if you have a prime membership. So 87% of America is invited on.
00:59:07 Speaker_03
I'm going to just watch Rachel Maddow. That's all I'm going to do because she makes me feel bad.
00:59:11 Speaker_10
And that's going to help your stress?
00:59:13 Speaker_03
It is. She is. The lesbians make me calm.
00:59:16 Speaker_10
That's like two Subarus colliding into each other at 130 miles an hour.
00:59:19 Speaker_03
No, it's not. It's the militia at the ridge.
00:59:20 Speaker_10
Oh my God, so inappropriate. A Subaru Forester and a Subaru Impreza had a head-on collision on election night.
00:59:29 Speaker_03
If Trump wins, we have to initiate the militia at the ridge. And so we've got to move on. So anyway, I think I'm going to stay home and just be calm about it. Anyway, Amanda, of course, is already losing her mind already. So we'll see where it goes.
00:59:45 Speaker_03
She already warned me, she goes, I will not be good if he wins. I was like, okay, great, sounds fantastic. Anyway, Dan, are you writing 15% happier next? What is your next thing?
00:59:56 Speaker_07
I am working on a book that I've been writing for six years that I have not been able to get right, which really moves from mindfulness, which was the subject of my first book, to, and I don't know the right word for this, but I'm gonna use the word love, or warmth, or friendliness, or this capacity we all have for compassion that we can direct not only toward other people, but also ourselves.
01:00:19 Speaker_07
That seems like the missing skill. in an anxiety epidemic and in the middle of a really divisive time. So, that's what I'm thinking about.
01:00:28 Speaker_10
So, you mentioned you have a nine-year-old that just won or? Just one. So I really relate to some of the stuff you talk about around anxiety and panic attacks. I also get them rarely, but consistently when I'm speaking.
01:00:42 Speaker_10
And one of the things I've found really helps when I'm feeling stressed is time with my boys. In general, my boys just raise my stress level. But when I'm really stressed, I find they bring it down because they can be so awful.
01:00:52 Speaker_10
It demands that I go out of my own head. Any thoughts around time with kids?
01:00:59 Speaker_07
I mean, to me, this goes back to action absorbs anxiety. If you can be useful to anybody else, it will pull you out of your stuff. And so parenting, for all of its vexations, can do that.
01:01:15 Speaker_07
And you can up the effectiveness of that by just tuning in to what does it feel like if I'm taking care of another being. It feels pretty good.
01:01:25 Speaker_07
So let's, let's, let's turn the volume up on that and turn the volume down on our own self centered rumination. I mean, another of my little dumb quips is that the view is so much better when you pull your head out of your ass.
01:01:41 Speaker_03
And I think that's where we will end it. The view is so much better. You will be 26% happier if you pull your head out of your ass. That's my feeling on that one. Dan, you're fantastic. We love your podcast. We love all your work. And thank you so much.
01:01:58 Speaker_03
I already feel better. And you can listen to Dan on 10% Happier.
01:02:02 Speaker_10
Thanks, Dan.
01:02:02 Speaker_03
Bye. Wasn't that lovely? Isn't Dan lovely?
01:02:05 Speaker_10
So you didn't come through. You purposely tried to get in between me and Emily Ratajkowski. But I want to be friends with Dan Harris. So I need you to set us up for a mandate. Now, I want Emily, but I need Dan.
01:02:19 Speaker_10
So I realize you're a little jelly of me and Emily's budding relationship. But you can make up for it by setting me up with, I want to mandate with, I need that guy in my life. That guy just makes me feel calm. He's a total baller.
01:02:35 Speaker_03
His hair is spectacular. He's very handsome.
01:02:38 Speaker_10
He's very successful. That's who I want to roll with. And I'll have lunch. Does he live in D.C.? Seems like the kind of guy who would live in D.C.
01:02:45 Speaker_10
I don't care where he lives, but I go to dinner with him and people are like, oh, there's Scott with Dan Harris. I always knew Scott was more interesting than he seems. And people will love me.
01:02:55 Speaker_03
I need a play date.
01:02:57 Speaker_10
Set up a play date. That's your job.
01:02:59 Speaker_03
I will set up a play date for Scott Galloway. I will do that. That will be your birthday present. By the way, everybody wish Scott a happy birthday. The birthday that will never end.
01:03:08 Speaker_03
the last week and it will never, I know I forgot, but it was his birthday just recently. So congratulations. All right, we'll be back for, we're gonna change wins and fails to predictions and then we'll do wins and fails on Thursday.
01:03:21 Speaker_03
So we're obviously gonna predict about the election and we will do that in a minute.
01:03:31 Speaker_10
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01:06:56 Speaker_03
Okay, Scott Galloway, a prediction from you, obviously about the election, unless you want to talk about something else.
01:07:03 Speaker_10
Well, I'll do two because we're supposed to be tech and business, so I'll try and I'll do something about tech and business. And then obviously people either come here for a prediction or either will love or hate this prediction.
01:07:14 Speaker_10
But I think there's a really decent chance. I think Intel is probably the ripest large, it's not large cap now, it's mid cap. It's the ripest candidate I've seen in a while for a take private.
01:07:26 Speaker_10
That is, it's got outstanding assets, decent cash flow, I think actually a pretty talented CEO, depressed stock price, and it needs to be out of the public view or public markets for a good 12 to 36 months, similar to what Dell did.
01:07:39 Speaker_10
The investments they need to make, the layoffs they need to make, quite frankly, the efficiencies they need would best be done as a private company, not a public.
01:07:47 Speaker_10
And it's got so many outstanding assets in terms of its management, its suppliers, its supply chain, its vendor relationship, its customer relationships, its brand, its global brand.
01:07:59 Speaker_10
It's arguably one of the probably the 10 most recognized tech brands in the world. It to me, Cara, just screams.
01:08:06 Speaker_03
Are you up to something?
01:08:07 Speaker_10
I am not personally. No, it just screams take private to me.
01:08:12 Speaker_10
This would be I got to think that this would be one of the better It's just so fucking ripe It's about to fall off the tree for a big private equity firm to come in and put together a great investor group and take a private in my view and
01:08:26 Speaker_10
My other prediction is simple. I think this poll out of Iowa shows there's real surprising momentum. It just feels everything is coming our way.
01:08:35 Speaker_10
And then just the feet on the street operation organized by the Harris campaign because of the money in the organization here. I don't even think this is, I'm predicting, Cara, that it's not just a win for Harris, it's a decisive win.
01:08:47 Speaker_03
Sorry, Scott, I had to change to my iPhone because we had a power surge. I'm blaming Tucker Carlson.
01:08:53 Speaker_10
I said that Kamala was going to win. It was going to be decisive.
01:08:55 Speaker_03
Well, Scott, I think I couldn't agree with you more. I think it's something I've been saying for a long time. I think women are the quiet majority of people who are going to be active in this election.
01:09:06 Speaker_03
It doesn't mean that Trump hasn't done very well, given all his all the hair on this guy, and there's a lot of it. But he was a president, and so there is that popularity element of it.
01:09:18 Speaker_03
I just think the people he's aimed at are people who are low-propensity voters, and they don't leave the basement because they're stoned. That's the people he's trying to get to vote. I think the last week, all the mistakes have been massive.
01:09:31 Speaker_03
and really significant, much more so than people realize. I think reporters have spent far too much time on Twitter. And so they think that the world is more dire than it is because Elon's managed to create a terrible environment there.
01:09:45 Speaker_03
And so media reporters just cannot possibly imagine being pro-Harris at this point. So that's why they're doing that. And they spend too much time focused on polls and easily gamed predictions markets.
01:09:59 Speaker_03
My biggest thing, two things have been, and then you can react, is one, the amount of money she's raised from small donors. It says a lot to me. It's about motivated people.
01:10:08 Speaker_03
I do think women do vote, and they don't, and they're tired of incels, they're tired of rapists, they're tired of being told what to do with their bodies, and they are much more motivated than the men who are just like, I like a tough guy, like that kind of thing.
01:10:21 Speaker_03
I don't think they like him that much. Lastly, today and the last week and a half at least, his rallies have been sparsely attended.
01:10:30 Speaker_03
And right now there's pictures of him in North Carolina on the final day of the election, half empty halls in North Carolina. It says a lot to me. These people are tired of the show and as a longtime watcher of The Apprentice,
01:10:43 Speaker_03
But let me just say, I got tired of the show in the last season and stopped watching it. And that's what it feels like. And you can decry me for watching The Apprentice, but it was a good show.
01:10:53 Speaker_03
So that's where I feel I think she's going to perform better. But I have to tell you, I think he's going to do everything possible to stay out of jail, including declaring victory very early in the evening.
01:11:02 Speaker_03
So it could be a very long few days and I'm worried a little bit more than probably you about violence.
01:11:08 Speaker_10
So I agree with the Nat Nat. I do get a little bit defensive. I think there's some misandry in there, Kara, when you refer to young men as saying women are tired of rapists and incels and are getting stoned in their basements.
01:11:20 Speaker_10
I don't think the Democratic Party has done itself any favors. by ignoring the struggles that young men face. And I think the Democratic Party has lost a lot of potential voters. Young men are actually, is in favor of gender equality as young women.
01:11:34 Speaker_10
They just don't feel that the Democratic Party, they feel the Democratic Party by purposely advocating
01:11:41 Speaker_10
or stating that they try and advantage 76% of the population is not advantaging that 74%, but it's discriminating against the 26% that are young men.
01:11:51 Speaker_10
And I think sometimes we have a tendency to stereotype them and not recognize the nuance and just the very real struggles that young men face. I don't think the Democratic Party's draped itself in glory there.
01:12:04 Speaker_03
I 100% agree, and I think it's one thing Harris should spend a lot of time doing, bringing in people like you and Richard Reeves and stuff like that, because I think it is a crisis. I'm just talking political strategy.
01:12:13 Speaker_03
I don't think this is a dependable group of voters.
01:12:17 Speaker_10
I think you're right. I think you're right.
01:12:19 Speaker_03
That's what I mean, and I think we have to. I have three sons. It matters a great deal to me how young men feel about their lives, and we want to bring them in and make them feel better.
01:12:30 Speaker_03
I don't love that a lot of, say, men of color right now are like, oh, Trump doesn't like us. That's why I'm not voting for him, because he's saying we're garbage. I don't like that either.
01:12:40 Speaker_03
It's like they should feel good about this country, and they should feel good about their role in it.
01:12:45 Speaker_03
But I do think women have had it, really had it with, and I'm not saying incels, you made this argument yourself, which was, you know, like women are tired of being told what to do with their body, really and truly.
01:12:59 Speaker_03
And I think that's the quiet thing that men are now saying out loud about being unhealthy. I think women are very unhappy underneath in a way that will motivate them to vote. And we should begin to bring ourselves together as a group of people.
01:13:13 Speaker_03
And I would recommend you watching the Will.I.Am video of the song. Not as well as we could have, but better than we do now. And all this garbage has to stop. Everything with garbage has to stop. We're not garbage. We're the American people.
01:13:31 Speaker_03
It has to stop. And hopefully that will mean kicking Trump to the curb finally, because he is a part of our personality that exists, but shouldn't anymore.
01:13:40 Speaker_10
Word. Word, my sister.
01:13:42 Speaker_03
Word. Sister, brother. Well, we'll see. We'll see on Thursday. We could be totally depressed. But we're here for it. We're here for it and we'll do whatever we can. We're still going to build a great country regardless of what happens.
01:13:54 Speaker_03
But we want Kamala to win because she's super cool.
01:13:57 Speaker_10
But I think that's an important point. Something that's unproductive is the catastrophizing on both sides that claim America is over if he or she wins. America has endured worse than he or she.
01:14:10 Speaker_10
And while I do think certain groups, in my view, young people who would incur deficits or what are effectively tax increases that'll be unprecedented, obviously women in terms of a continued loss of domain over their own bodily autonomy,
01:14:24 Speaker_10
But to believe that America is not going to be around in four years if he or she wins just doesn't recognize history or how enduring and outstanding America is.
01:14:34 Speaker_03
I agree with you, Scott, and I think it is. And I do like her message, which is much more about unity on the way out. His is about the fluoride, whether you should have fluoride in the water and Al Capone. We're done with that.
01:14:44 Speaker_03
And I'm glad that she's doing a unity message at the end. Hopefully she can stick with that. And I hope she does if she becomes president. And it would be a great moment in our history to have the first woman president of the United States.
01:14:55 Speaker_03
Just exciting. And I'd be just as excited if it was a Republican, honestly, as long as it was a good one. But I'm very excited about that. Anyway, Scott, read us out.
01:15:06 Speaker_10
Today's show was produced by Lara Naiman, Zoe Marcus, Taylor Griffin, and Christine Driscoll. Ernie or Todd engineered this episode. Thanks also to Drew Brosmea-Severio and Dan Shulan. Nishat Kirwa is Vox Media's executive producer of audio.
01:15:17 Speaker_10
Make sure you subscribe to the show wherever you listen to podcasts. Thanks for listening to Pivot from New York Magazine and Vox Media. You can subscribe to the magazine at nymag.com slash pod.
01:15:27 Speaker_10
We'll be back later this week for another breakdown of all things tech and business. Cara, I will see you on the other side.
01:15:34 Speaker_03
And go vote, everybody.
01:15:54 Speaker_09
But Amazon Q helps streamline work so tasks like summarizing monthly results can be done in no time. Learn what Amazon Q Business can do for you at aws.com slash learn more. That's aws.com slash learn more.
01:16:12 Speaker_01
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01:16:52 Speaker_04
Tell your doctor about medical history, muscle or nerve conditions including ALS or Lou Gehrig's disease, myasthenia gravis, or Lambert-Eden syndrome and medications, including botulinum toxins, as these may increase the risk of serious side effects.
01:17:03 Speaker_04
For full safety information, visit BotoxCosmetic.com or call 877-351-0300. See for yourself at BotoxCosmetic.com.