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0:01:31 Welcome to Office Hours with Prop G.
0:01:33 This is the part of the show where we answer your questions
0:01:34 about business, big tech, entrepreneurship,
0:01:36 and whatever else is on your mind.
0:01:38 If you’d like to submit a question for next time,
0:01:41 you can send a voice recording to officehours at propgmedia.com.
0:01:44 Again, that’s officehours at propgmedia.com.
0:01:47 Or, post your question on the Scott Galloway subreddit,
0:01:49 and we just might feature it in our next episode.
0:01:50 First question.
0:01:54 Our first question comes from user
0:01:57 OKLandscape5569 on Reddit.
0:01:58 They say,
0:02:01 Hi Scott, you seem to have such a close
0:02:02 and loving relationship with your sons.
0:02:05 How do you explain what is happening in the United States?
0:02:07 As a mother of two teen boys myself,
0:02:09 I often try to explain our current situation
0:02:10 in this country.
0:02:12 The lack of honesty, integrity, and loyalty
0:02:14 to the Constitution continues to weigh heavily
0:02:15 on our family.
0:02:17 Any advice on how to talk to your children
0:02:18 in this very difficult time in history
0:02:20 we find ourselves in?
0:02:22 Thank you for all your hard work,
0:02:23 and best of luck with your upcoming book.
0:02:26 It’s a really thoughtful question,
0:02:28 OKLandscape5569.
0:02:30 But you know something?
0:02:31 And I might be naive.
0:02:32 My kids,
0:02:35 so I have 15 and 18-year-old boys,
0:02:38 and kind of between snapping their friends
0:02:42 and watching TikToks on highlights
0:02:44 of Tottenham Spurs’ goals,
0:02:45 I don’t think, quite frankly,
0:02:47 they’re that politically engaged.
0:02:49 And also we’re somewhat,
0:02:51 I don’t know,
0:02:51 sequestered from it,
0:02:52 living in the UK.
0:02:55 Occasionally they do say something
0:02:57 that feels like, you know,
0:02:58 just straight misinformation
0:02:59 that I think they,
0:03:01 like two-thirds of Americans,
0:03:02 got from social media
0:03:03 that’s not fact-checked.
0:03:05 But I wouldn’t say
0:03:07 what’s going on
0:03:08 has had a big toll
0:03:09 on my kids.
0:03:10 I mean, the reality is
0:03:11 they’re just much more interested
0:03:12 in their video games
0:03:13 and their friends
0:03:14 in Premier League football
0:03:16 than they are in politics.
0:03:18 and I kind of like it.
0:03:19 I don’t,
0:03:20 you know,
0:03:21 I hear about,
0:03:23 so there’s a,
0:03:24 as you probably read,
0:03:25 there’s a mating crisis
0:03:26 and some of it is that
0:03:28 there’s an increasing gender divide
0:03:30 in terms of political affiliation
0:03:31 and a lot of young women
0:03:33 are turned off of young men
0:03:35 who express sort of
0:03:36 red pill conservative viewpoints
0:03:37 and I imagine
0:03:37 many of the men
0:03:38 are turned off by
0:03:41 what they see as sort of,
0:03:41 I don’t know,
0:03:43 unrealistic progressive ideals.
0:03:44 I don’t know how to frame it.
0:03:46 And I was thinking that
0:03:48 when I was younger
0:03:48 and dating,
0:03:50 I couldn’t for the life of me
0:03:51 tell you what the politics were
0:03:52 of anyone I dated.
0:03:54 And it just bums me out
0:03:55 that it’s yet another thing
0:03:57 that gets in the way
0:03:59 of people connecting.
0:04:01 But in terms of my sons
0:04:02 or in terms of your sons,
0:04:03 I think that
0:04:05 just a conversation
0:04:06 and what I find
0:04:07 with people
0:04:09 who don’t align,
0:04:12 so my son,
0:04:12 my youngest,
0:04:13 said something
0:04:14 about the conflict
0:04:15 in the Middle East
0:04:16 which I was,
0:04:17 which was just blatantly wrong
0:04:18 or incorrect.
0:04:20 And rather than,
0:04:21 my immediate reaction
0:04:23 was to kind of gag on it,
0:04:24 tell him he’s wrong,
0:04:25 say that just makes no sense
0:04:26 and break into lecture
0:04:27 about why he’s wrong.
0:04:29 And what I realized
0:04:29 with my boys
0:04:30 is that
0:04:32 the moment I do that,
0:04:33 it just kind of
0:04:34 cements their opinion.
0:04:35 there’s a healthy instinct
0:04:36 among,
0:04:37 especially among teenagers,
0:04:39 that they should start
0:04:39 rebelling
0:04:41 against their parents
0:04:42 such that
0:04:43 leaving the pack
0:04:44 becomes easier
0:04:45 and less painful.
0:04:46 That’s healthy.
0:04:46 Young people need
0:04:47 to think creatively.
0:04:48 They need to disrupt
0:04:49 the ideology
0:04:50 of the previous generation
0:04:51 to innovate around
0:04:52 new and better ideas.
0:04:53 What I do
0:04:54 or try to do
0:04:54 when they bring up
0:04:55 something that I think
0:04:57 is just misinformed
0:04:59 or, you know,
0:04:59 off point,
0:05:00 if you will,
0:05:02 I start asking questions.
0:05:02 I’m like,
0:05:03 well, what about this?
0:05:04 Where did you get that?
0:05:05 What do you think
0:05:06 are the arguments
0:05:06 against that?
0:05:08 What about X,
0:05:08 Y,
0:05:09 and Z issues?
0:05:10 And I just have
0:05:10 a conversation
0:05:11 as opposed to
0:05:12 sort of weighing in
0:05:14 on, you know,
0:05:15 what’s wrong.
0:05:16 Also,
0:05:17 I wonder sometimes
0:05:20 if we project
0:05:21 our own disappointment
0:05:22 on our kids.
0:05:23 I’m suitably freaked out
0:05:24 about what’s going on
0:05:24 in America,
0:05:25 but what I’ve tried
0:05:26 to do
0:05:27 is not infect
0:05:28 my kids
0:05:29 with that anxiety
0:05:32 because I think
0:05:33 most kids,
0:05:34 I’m not suggesting
0:05:35 these actions
0:05:36 and what’s going on
0:05:37 won’t have real
0:05:37 ramifications,
0:05:39 but just being back
0:05:40 in the U.S.
0:05:40 for a bit,
0:05:41 I’ve been in Nashville,
0:05:42 I’ve been in New York,
0:05:43 I generally find,
0:05:43 like,
0:05:44 if I didn’t know
0:05:45 what was going on
0:05:46 in the public press
0:05:47 and watching,
0:05:48 you know,
0:05:49 Charlie Kirk’s funeral
0:05:50 and listening to rants
0:05:51 and being online,
0:05:53 or I’m extremely online,
0:05:53 unfortunately,
0:05:55 I kind of wouldn’t know
0:05:56 what’s going on.
0:05:56 and I think
0:05:57 that kids,
0:05:58 I’d like to think,
0:05:59 are in a bit
0:06:00 of a healthy bubble
0:06:01 around this.
0:06:02 I’m not suggesting
0:06:02 they shouldn’t be
0:06:03 politically engaged
0:06:03 and learn about
0:06:04 what’s going on,
0:06:06 but I like
0:06:07 kind of the innocence
0:06:08 of my kids
0:06:09 focused on
0:06:10 Premier League football
0:06:12 and their friends
0:06:13 and, you know,
0:06:15 school and college apps
0:06:16 and things like that.
0:06:19 So I haven’t done that.
0:06:19 My only suggestion
0:06:20 would be
0:06:21 to ask questions,
0:06:22 have open,
0:06:23 honest conversations
0:06:23 around it,
0:06:25 and also remind them
0:06:26 that this is not,
0:06:27 if in fact
0:06:27 they really are
0:06:28 upset by it,
0:06:29 to remind them
0:06:30 this has happened
0:06:31 before in America.
0:06:32 I keep hearing
0:06:33 discussions that,
0:06:34 oh, we’re headed
0:06:35 obviously towards
0:06:35 Civil War.
0:06:37 There have been
0:06:38 a couple moments
0:06:39 in American history
0:06:40 where we were
0:06:41 in a much worse place.
0:06:41 Anyways,
0:06:43 I think it’s interesting
0:06:44 that you’re even
0:06:45 cognizant of this,
0:06:46 thinking about it
0:06:47 from a viewpoint
0:06:48 of a parent.
0:06:49 I would love it
0:06:49 if my kids wanted
0:06:50 to talk to me
0:06:50 about this stuff,
0:06:51 but they just,
0:06:52 quite frankly,
0:06:52 aren’t interested.
0:06:54 Thanks for your question.
0:06:56 Question number two,
0:06:57 Eric from Kentucky.
0:06:59 Hi, Scott.
0:07:00 My name is Eric
0:07:01 from Louisville, Kentucky,
0:07:02 the home of bourbon,
0:07:03 horse racing,
0:07:04 and baseball bats,
0:07:05 and I am the father
0:07:06 of a current
0:07:07 senior business major.
0:07:08 I’ve spent my career
0:07:09 in corporate America,
0:07:11 specifically in technology,
0:07:12 and I don’t think
0:07:13 my son is interested
0:07:14 in a similar path.
0:07:15 As I advise him,
0:07:16 I’ve been intrigued
0:07:17 by the so-called
0:07:18 silver tsunami,
0:07:19 the wave of retiring
0:07:20 baby boomers
0:07:20 and Gen Xers
0:07:21 looking to exit
0:07:22 and sell
0:07:23 their established businesses.
0:07:25 My son is a hard-working
0:07:26 young man
0:07:27 who I could see
0:07:27 being successful
0:07:29 in small business ownership,
0:07:30 but I think about
0:07:31 the need for a foundation
0:07:32 that would serve him
0:07:33 well in pursuing this.
0:07:34 I’m interested
0:07:35 in your perspective
0:07:36 on the silver tsunami
0:07:38 and the opportunities
0:07:39 it could create
0:07:40 for his generation.
0:07:41 Acquisition cost
0:07:42 is a headwind for sure,
0:07:43 but this offers
0:07:45 an alternative path
0:07:46 with AI and automation
0:07:47 impacting early
0:07:48 and career jobs
0:07:49 in big corporations.
0:07:51 And please,
0:07:52 you folks keep
0:07:52 doing your thing.
0:07:54 I love your jokes,
0:07:55 benefit from your insights,
0:07:57 and really appreciate
0:07:57 your authenticity.
0:07:59 Eric from Kentucky,
0:08:00 it’s a really thoughtful question,
0:08:02 and I love that you’re
0:08:02 couching it
0:08:04 in opportunity
0:08:05 for your son.
0:08:07 The term silver tsunami
0:08:08 refers to the wave
0:08:09 of aging populations
0:08:09 worldwide,
0:08:11 including in the United States.
0:08:13 By 2030,
0:08:15 the entire baby boomer generation,
0:08:15 one of the largest
0:08:16 generational cohorts
0:08:17 in U.S. history,
0:08:19 will be at or beyond
0:08:20 retirement age.
0:08:21 For the first time,
0:08:22 Americans over 65
0:08:23 will outnumber
0:08:24 those under 18.
0:08:26 This wave of retirements
0:08:28 will result in
0:08:29 sort of a trillion-dollar
0:08:31 baby boomer sell-off.
0:08:32 In the U.S. alone,
0:08:33 an estimated 10 million
0:08:34 small businesses,
0:08:37 roughly 70% of all small firms,
0:08:38 are expected to go up
0:08:39 for sale in the next decade
0:08:40 as boomers and Gen X retire,
0:08:41 representing an estimated
0:08:45 $14 trillion wealth transfer.
0:08:46 However,
0:08:47 the planning
0:08:48 or the kind of questions
0:08:48 you’re asking
0:08:49 is pretty rare.
0:08:51 Less than a third
0:08:52 of small business owners
0:08:53 have an exit plan
0:08:53 for when they retire
0:08:55 or people on the supply side
0:08:56 are thinking about this.
0:08:58 Also,
0:09:00 the people inheriting
0:09:00 these businesses,
0:09:03 only 4% of small businesses
0:09:05 survive to the fourth generation.
0:09:06 There’s not a lot of kids
0:09:08 taking over dad’s car wash
0:09:09 or dad’s,
0:09:10 you know,
0:09:10 energy-efficient
0:09:12 heater installation.
0:09:14 there’s also a dearth
0:09:16 of capital going into it,
0:09:18 especially human capital.
0:09:18 And that is,
0:09:20 the example I use
0:09:21 is when I take my in-laws
0:09:22 to a dinner party.
0:09:24 People are polite to them.
0:09:25 You know,
0:09:26 they’re in their 70s now,
0:09:26 but people aren’t,
0:09:27 like,
0:09:28 kind of super engaged
0:09:29 and interested in them,
0:09:30 even despite the fact
0:09:31 they’re very interesting people.
0:09:33 People are interested in youth.
0:09:35 People are interested in growth.
0:09:36 People want to hang out,
0:09:37 whereas when I take my
0:09:38 18-year-old
0:09:39 who’s applying to college,
0:09:40 people are just sort of
0:09:40 fascinated with him,
0:09:41 want to hear about
0:09:41 what he’s up to,
0:09:43 because we’re drawn
0:09:45 unnaturally or naturally,
0:09:45 I guess,
0:09:46 to youth.
0:09:47 It’s the same in business.
0:09:48 We’re attracted to growth.
0:09:50 We’re attracted to the
0:09:50 cool new thing.
0:09:51 We’re attracted to
0:09:52 venture capital-backed
0:09:54 technology companies.
0:09:55 And the boring stuff
0:09:57 is things like
0:09:58 a senior home
0:09:58 or something to do
0:09:59 with health care.
0:10:01 And that’s where you get
0:10:02 enormous return
0:10:03 on invested capital.
0:10:03 If I were just
0:10:04 an economic animal
0:10:06 coming out of school,
0:10:07 I would try and
0:10:08 probably try and
0:10:09 position myself
0:10:10 somewhere between
0:10:11 the intersection
0:10:11 between AI
0:10:13 and health care.
0:10:13 In the United States,
0:10:15 it’s our largest business.
0:10:16 17% of the GDP,
0:10:17 I think it’s like,
0:10:18 what is that,
0:10:19 about a $4 trillion business.
0:10:21 And four out of five people
0:10:22 are dissatisfied
0:10:22 with their health care.
0:10:24 So that just all
0:10:24 spells opportunity.
0:10:26 If I didn’t have
0:10:27 a college degree
0:10:28 or was just
0:10:29 more entrepreneurial,
0:10:31 I think there’s
0:10:32 an enormous opportunity
0:10:34 in trying to identify
0:10:35 local small businesses
0:10:37 that are owned
0:10:38 by a boomer
0:10:39 who has no succession plan.
0:10:41 And I’m not entirely sure
0:10:41 how you find
0:10:42 those businesses,
0:10:43 but there must be a way
0:10:44 and then offering
0:10:44 to work with that person
0:10:45 for a year or two years
0:10:47 and then try and buy
0:10:48 that person’s business
0:10:49 if you’re
0:10:50 it’s not as hardworking,
0:10:51 scrappy,
0:10:53 good with people.
0:10:53 You know,
0:10:54 the guy who installed
0:10:55 my drapes
0:10:57 at the home I renovated
0:10:58 or my curtains
0:10:59 five years ago
0:11:01 has a nice business.
0:11:01 I would guess
0:11:02 he makes
0:11:03 clears
0:11:04 five to 700,000 a year.
0:11:05 He tells me
0:11:05 he just does
0:11:06 about $2 million a year
0:11:07 in top line revenue.
0:11:08 He’s got, I think,
0:11:08 five or six people
0:11:09 working for him,
0:11:11 a couple of vans.
0:11:11 I bet he clears
0:11:12 a half a million
0:11:13 to, I don’t know,
0:11:14 six or 700,000 a year.
0:11:15 Really good living, right?
0:11:16 Now it’s taken him
0:11:16 a long time
0:11:17 to build that business.
0:11:18 But I said,
0:11:20 what about your kids?
0:11:20 And he said,
0:11:21 his daughter
0:11:22 has no interest in it
0:11:23 and his son
0:11:25 worked in the business
0:11:25 for a while
0:11:26 but didn’t like it.
0:11:27 So I think
0:11:28 there’s a big opportunity
0:11:29 to try and find
0:11:31 small businesses.
0:11:32 Now what do you do to,
0:11:33 what if you don’t have
0:11:33 the capital
0:11:33 to acquire
0:11:34 these companies?
0:11:36 I think that there’s
0:11:37 opportunities for
0:11:37 quote unquote
0:11:38 seller financing
0:11:39 and that is
0:11:40 finding someone
0:11:41 who’s three,
0:11:41 five,
0:11:42 eight years out
0:11:43 from retirement
0:11:43 and saying,
0:11:43 look,
0:11:44 I’ll work with you,
0:11:45 I’ll learn the business,
0:11:46 then I’m going to own it
0:11:47 and I’m going to give you
0:11:48 a certain percentage
0:11:49 of top line revenues
0:11:49 for the next three,
0:11:50 five,
0:11:50 ten years
0:11:51 such that you have
0:11:52 passive income
0:11:53 and I slowly
0:11:54 but surely
0:11:54 buy the business
0:11:55 from you
0:11:56 and you continue
0:11:57 to get a share
0:11:58 of top line revenues.
0:11:58 I would be very
0:11:59 thoughtful about
0:12:00 the economics there
0:12:01 because the last thing
0:12:01 you want to do
0:12:02 is buy a business
0:12:03 and just feel like
0:12:03 you can never get out
0:12:04 from these payments
0:12:05 you have to pay
0:12:05 the original owner
0:12:07 but I think a lot
0:12:08 of these smaller businesses
0:12:09 there’s not really
0:12:09 a liquid market
0:12:10 to purchase them
0:12:12 and the person
0:12:12 who’s going to buy them
0:12:13 is really the key
0:12:14 if he or she
0:12:15 is very engaged
0:12:15 and you can probably
0:12:16 figure out ways
0:12:17 to do kind of
0:12:17 seller financing
0:12:18 if you will.
0:12:19 So one,
0:12:21 huge opportunity
0:12:23 in the silver tsunami
0:12:24 across different businesses
0:12:25 especially those
0:12:25 around healthcare
0:12:26 as it relates
0:12:26 to seniors
0:12:27 and two,
0:12:29 a lot of opportunities
0:12:30 to buy small
0:12:32 services businesses
0:12:33 whether it’s
0:12:33 pool cleaning
0:12:35 or car repair
0:12:36 or what have you
0:12:36 if your son
0:12:38 has those skills
0:12:39 and maybe even
0:12:39 the opportunity
0:12:40 to structure it
0:12:41 in terms of
0:12:42 seller financing
0:12:43 but you’re absolutely
0:12:44 thinking the right way.
0:12:45 Peter Drucker said
0:12:48 no major business category
0:12:50 has ever really boomed
0:12:51 that you couldn’t
0:12:52 reverse engineer it
0:12:53 to essentially
0:12:55 a huge demographic shift.
0:12:56 Thanks for the question.
0:12:57 We’ll be right back
0:12:58 after a quick break.
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0:15:26 Welcome back
0:15:27 on to our final question.
0:15:30 Hey, Scott.
0:15:32 A year ago,
0:15:33 I graduated from UC Berkeley
0:15:34 with a degree
0:15:35 in computer science
0:15:36 and I moved to New York
0:15:37 to work as a product manager
0:15:38 on an AI team
0:15:40 at a Fortune 500 company.
0:15:41 The paying benefits
0:15:42 are good
0:15:42 and I know
0:15:44 I’m in a very privileged position
0:15:45 especially this early
0:15:45 in my career.
0:15:47 I’ve been given
0:15:48 meaningful responsibility
0:15:49 but most of what I’m learning
0:15:50 feels like navigating
0:15:51 corporate politics
0:15:52 rather than actually
0:15:53 building great products.
0:15:55 The team is remote,
0:15:56 the pace is slow
0:15:57 and to be honest,
0:15:58 I don’t have to work
0:15:59 very hard
0:16:00 to do my job well.
0:16:01 Following your advice,
0:16:02 in my free time,
0:16:03 I’ve really leaned in
0:16:04 to building relationships
0:16:04 in the city.
0:16:06 While that’s been rewarding,
0:16:07 I don’t want my entire
0:16:08 sense of progress
0:16:09 to ride on my social life.
0:16:10 This all leaves me wondering,
0:16:12 am I wasting my early career years
0:16:13 at a company like this?
0:16:15 And how should I be thinking
0:16:16 about making the most
0:16:16 of my time
0:16:17 both inside
0:16:18 and outside of work?
0:16:19 Thanks, Prof G.
0:16:21 So first off,
0:16:23 it’s really good to be you.
0:16:25 You’re living in New York,
0:16:27 you’re working in AI
0:16:28 and you have a degree
0:16:30 in computer science
0:16:32 from the best public school
0:16:33 in the nation
0:16:34 or what I believe
0:16:35 is the best public school
0:16:36 in the nation.
0:16:37 What I would suggest
0:16:38 is if you don’t feel
0:16:38 really challenged,
0:16:38 first,
0:16:41 be as social as you can.
0:16:42 Don’t change anything there
0:16:43 as long as you’re not out
0:16:44 getting fucked up every night
0:16:45 and drinking too much.
0:16:47 Being out and being social,
0:16:48 this is a point in your life
0:16:49 where you should be finding
0:16:50 friends, mentors, and mates.
0:16:51 So I wouldn’t dial back
0:16:52 the social part,
0:16:53 especially living in New York.
0:16:54 This is a playground.
0:16:56 Go out and enjoy it
0:16:57 as long as it’s not getting
0:16:58 in the way of your ability
0:16:59 to be productive the next day.
0:17:00 Be the guy that goes out
0:17:01 and goes home
0:17:02 at a reasonable hour.
0:17:03 Don’t be the person
0:17:04 that sticks around
0:17:05 and orders a bottle
0:17:06 of Grey Goose
0:17:07 at one in the morning.
0:17:08 I used to be that guy
0:17:09 when I first moved to New York
0:17:09 and was working
0:17:10 in Morgan Stanley.
0:17:12 We used to pool our vouchers
0:17:13 for a car,
0:17:15 the money we’d get for dinner,
0:17:16 and then we’d all go out
0:17:17 and party and somehow
0:17:18 convince ourselves
0:17:19 that it’s okay to stay out
0:17:20 until 1 or 2 a.m.
0:17:20 on a Tuesday night.
0:17:21 Anyways,
0:17:22 don’t be that guy.
0:17:24 But absolutely,
0:17:25 I wouldn’t dial back
0:17:27 the social part of your life
0:17:27 unless you feel
0:17:28 it’s getting in the way
0:17:29 of your professional life.
0:17:30 In terms of the company
0:17:31 you’re at,
0:17:32 I think that being
0:17:33 in an AI group
0:17:34 of a corporation
0:17:36 is a great branding event.
0:17:37 And you also,
0:17:38 when you’re younger,
0:17:39 you want to learn
0:17:40 and you want to set yourself up
0:17:41 and build a platform
0:17:42 for future scale
0:17:43 and success.
0:17:45 And you want to workshop careers.
0:17:46 And it doesn’t sound like
0:17:47 you’re that challenged there.
0:17:48 So a couple things.
0:17:49 One,
0:17:50 I personally think
0:17:51 at your age
0:17:52 that the office
0:17:52 is a future,
0:17:53 not a bug.
0:17:54 That you want to be
0:17:54 in an office
0:17:56 getting more regular feedback.
0:17:57 I really needed,
0:17:58 I didn’t have the discipline
0:17:59 to work remotely
0:18:00 when I was your age.
0:18:00 So I’m glad
0:18:01 it wasn’t available.
0:18:02 I had to put on a tie,
0:18:03 get up at 7 a.m.,
0:18:04 put on a tie
0:18:05 and haul my ass
0:18:06 into Morgan Stanley.
0:18:07 And my boss,
0:18:08 this wonderful man
0:18:09 named Carter Cordner
0:18:10 would on a regular basis
0:18:12 pull me into a conference room
0:18:12 and say,
0:18:13 don’t say that
0:18:14 or that was good
0:18:15 or keep doing this
0:18:15 or, you know.
0:18:17 And I needed that.
0:18:18 I needed
0:18:19 kind of the skills
0:18:20 and socialization
0:18:21 to read the room.
0:18:22 I used to have
0:18:23 to give the update
0:18:24 for the fixed income department
0:18:25 in front of the entire office.
0:18:26 because my boss
0:18:27 didn’t want to go.
0:18:28 And that was great training
0:18:29 for me to do it in person
0:18:30 because it was nerve-wracking
0:18:31 and slowly but surely
0:18:32 I became less nervous
0:18:32 doing it.
0:18:34 So a couple things.
0:18:35 One,
0:18:36 if you’ve been there
0:18:37 less than two years
0:18:37 and it’s a good job,
0:18:38 I would just stick there
0:18:39 no matter what.
0:18:39 You want to be seen
0:18:41 as someone who can show up
0:18:42 and stay somewhere.
0:18:44 I would also consider
0:18:46 if you have a good relationship
0:18:47 with someone
0:18:48 in the organization,
0:18:49 a mentor or your boss,
0:18:51 I would express
0:18:51 very openly
0:18:53 your concerns
0:18:54 and say,
0:18:55 is there an opportunity
0:18:56 for me to be
0:18:57 in something more challenging
0:18:59 that’s maybe on a,
0:18:59 you know,
0:19:00 a faster career path
0:19:02 and see what’s available
0:19:03 inside of the company.
0:19:04 One of the most frustrating
0:19:05 things that’s happened
0:19:06 to me as a boss
0:19:07 is when someone comes in
0:19:07 and tells me
0:19:07 they’re leaving
0:19:09 and they say,
0:19:09 well,
0:19:11 I’m going to get to manage
0:19:12 two people at this company.
0:19:12 I’m like,
0:19:12 well,
0:19:13 if that was your priority,
0:19:14 we would have figured out
0:19:15 a way for you
0:19:16 for the next couple of hires
0:19:17 in your group
0:19:18 for you to manage.
0:19:19 or strangers
0:19:21 always look more attractive
0:19:22 than the person
0:19:23 you’re actually with
0:19:25 and that’s the same
0:19:26 is true of corporations
0:19:27 and that is the idea
0:19:29 or the concept
0:19:30 of a different company
0:19:30 you think is probably
0:19:31 going to solve
0:19:31 all your problems.
0:19:32 What you want to see
0:19:33 is if you can solve
0:19:34 those problems
0:19:35 with the company
0:19:35 you’re at currently,
0:19:36 especially if you’re
0:19:37 doing well.
0:19:40 So what’s the advice here?
0:19:40 One,
0:19:42 be as social as possible
0:19:42 as long as it’s not
0:19:43 getting in the way
0:19:44 of your day job.
0:19:45 Two,
0:19:47 if you’ve been
0:19:47 at your firm
0:19:48 less than two years,
0:19:49 I’d probably stick around
0:19:50 unless you hate it.
0:19:52 And three,
0:19:54 maybe investigate
0:19:55 other opportunities
0:19:55 if you have a mentor
0:19:56 you can be open
0:19:57 and honest with
0:19:58 about trying to find
0:19:59 what it is you want
0:20:00 within that company.
0:20:01 And four,
0:20:03 if it’s,
0:20:03 you know,
0:20:04 kind of none of the above,
0:20:06 just start interviewing.
0:20:07 It’s much easier
0:20:07 to find a job
0:20:08 when you have a job
0:20:09 than it is
0:20:10 to find a job
0:20:11 when you don’t have one.
0:20:13 But let me just circle
0:20:14 back to the beginning.
0:20:15 It is really
0:20:16 good to be
0:20:17 you,
0:20:17 my brother.
0:20:18 To be an AI
0:20:20 at a big corporation
0:20:22 with a credential
0:20:23 in computer science
0:20:23 from Berkeley,
0:20:24 you know,
0:20:25 your biggest issue
0:20:26 or your biggest problem
0:20:27 is not what to do,
0:20:28 it’s what not to do.
0:20:29 And I trust you
0:20:30 take stock of your blessings
0:20:31 around,
0:20:31 you know,
0:20:33 you’re living in New York
0:20:34 that your worst days
0:20:35 are probably better
0:20:36 than most people’s best days.
0:20:37 I very much
0:20:38 appreciate the question
0:20:39 and congratulations
0:20:41 on all your success today.
0:20:45 That’s all for this episode.
0:20:46 If you’d like
0:20:47 to submit a question,
0:20:48 please email a voice recording
0:20:48 to officehours
0:20:50 at propgmedia.com.
0:20:50 Again,
0:20:51 that’s officehours
0:20:52 at propgmedia.com.
0:20:53 Or,
0:20:54 if you prefer
0:20:55 to ask on Reddit,
0:20:56 just post a question
0:20:57 on the Scott Galloway
0:20:57 subreddit
0:20:58 and we just might
0:20:59 feature it
0:21:00 in an upcoming episode.
0:21:02 This episode
0:21:03 was produced
0:21:04 by Jennifer Sanchez.
0:21:05 Our assistant producer
0:21:06 is Laura Janair.
0:21:06 Drew Burrows
0:21:07 is our technical director.
0:21:08 Thank you for listening
0:21:09 to the PropG pod
0:21:10 from PropGmedia.
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0:01:31 Welcome to Office Hours with Prop G.
0:01:33 This is the part of the show where we answer your questions
0:01:34 about business, big tech, entrepreneurship,
0:01:36 and whatever else is on your mind.
0:01:38 If you’d like to submit a question for next time,
0:01:41 you can send a voice recording to officehours at propgmedia.com.
0:01:44 Again, that’s officehours at propgmedia.com.
0:01:47 Or, post your question on the Scott Galloway subreddit,
0:01:49 and we just might feature it in our next episode.
0:01:50 First question.
0:01:54 Our first question comes from user
0:01:57 OKLandscape5569 on Reddit.
0:01:58 They say,
0:02:01 Hi Scott, you seem to have such a close
0:02:02 and loving relationship with your sons.
0:02:05 How do you explain what is happening in the United States?
0:02:07 As a mother of two teen boys myself,
0:02:09 I often try to explain our current situation
0:02:10 in this country.
0:02:12 The lack of honesty, integrity, and loyalty
0:02:14 to the Constitution continues to weigh heavily
0:02:15 on our family.
0:02:17 Any advice on how to talk to your children
0:02:18 in this very difficult time in history
0:02:20 we find ourselves in?
0:02:22 Thank you for all your hard work,
0:02:23 and best of luck with your upcoming book.
0:02:26 It’s a really thoughtful question,
0:02:28 OKLandscape5569.
0:02:30 But you know something?
0:02:31 And I might be naive.
0:02:32 My kids,
0:02:35 so I have 15 and 18-year-old boys,
0:02:38 and kind of between snapping their friends
0:02:42 and watching TikToks on highlights
0:02:44 of Tottenham Spurs’ goals,
0:02:45 I don’t think, quite frankly,
0:02:47 they’re that politically engaged.
0:02:49 And also we’re somewhat,
0:02:51 I don’t know,
0:02:51 sequestered from it,
0:02:52 living in the UK.
0:02:55 Occasionally they do say something
0:02:57 that feels like, you know,
0:02:58 just straight misinformation
0:02:59 that I think they,
0:03:01 like two-thirds of Americans,
0:03:02 got from social media
0:03:03 that’s not fact-checked.
0:03:05 But I wouldn’t say
0:03:07 what’s going on
0:03:08 has had a big toll
0:03:09 on my kids.
0:03:10 I mean, the reality is
0:03:11 they’re just much more interested
0:03:12 in their video games
0:03:13 and their friends
0:03:14 in Premier League football
0:03:16 than they are in politics.
0:03:18 and I kind of like it.
0:03:19 I don’t,
0:03:20 you know,
0:03:21 I hear about,
0:03:23 so there’s a,
0:03:24 as you probably read,
0:03:25 there’s a mating crisis
0:03:26 and some of it is that
0:03:28 there’s an increasing gender divide
0:03:30 in terms of political affiliation
0:03:31 and a lot of young women
0:03:33 are turned off of young men
0:03:35 who express sort of
0:03:36 red pill conservative viewpoints
0:03:37 and I imagine
0:03:37 many of the men
0:03:38 are turned off by
0:03:41 what they see as sort of,
0:03:41 I don’t know,
0:03:43 unrealistic progressive ideals.
0:03:44 I don’t know how to frame it.
0:03:46 And I was thinking that
0:03:48 when I was younger
0:03:48 and dating,
0:03:50 I couldn’t for the life of me
0:03:51 tell you what the politics were
0:03:52 of anyone I dated.
0:03:54 And it just bums me out
0:03:55 that it’s yet another thing
0:03:57 that gets in the way
0:03:59 of people connecting.
0:04:01 But in terms of my sons
0:04:02 or in terms of your sons,
0:04:03 I think that
0:04:05 just a conversation
0:04:06 and what I find
0:04:07 with people
0:04:09 who don’t align,
0:04:12 so my son,
0:04:12 my youngest,
0:04:13 said something
0:04:14 about the conflict
0:04:15 in the Middle East
0:04:16 which I was,
0:04:17 which was just blatantly wrong
0:04:18 or incorrect.
0:04:20 And rather than,
0:04:21 my immediate reaction
0:04:23 was to kind of gag on it,
0:04:24 tell him he’s wrong,
0:04:25 say that just makes no sense
0:04:26 and break into lecture
0:04:27 about why he’s wrong.
0:04:29 And what I realized
0:04:29 with my boys
0:04:30 is that
0:04:32 the moment I do that,
0:04:33 it just kind of
0:04:34 cements their opinion.
0:04:35 there’s a healthy instinct
0:04:36 among,
0:04:37 especially among teenagers,
0:04:39 that they should start
0:04:39 rebelling
0:04:41 against their parents
0:04:42 such that
0:04:43 leaving the pack
0:04:44 becomes easier
0:04:45 and less painful.
0:04:46 That’s healthy.
0:04:46 Young people need
0:04:47 to think creatively.
0:04:48 They need to disrupt
0:04:49 the ideology
0:04:50 of the previous generation
0:04:51 to innovate around
0:04:52 new and better ideas.
0:04:53 What I do
0:04:54 or try to do
0:04:54 when they bring up
0:04:55 something that I think
0:04:57 is just misinformed
0:04:59 or, you know,
0:04:59 off point,
0:05:00 if you will,
0:05:02 I start asking questions.
0:05:02 I’m like,
0:05:03 well, what about this?
0:05:04 Where did you get that?
0:05:05 What do you think
0:05:06 are the arguments
0:05:06 against that?
0:05:08 What about X,
0:05:08 Y,
0:05:09 and Z issues?
0:05:10 And I just have
0:05:10 a conversation
0:05:11 as opposed to
0:05:12 sort of weighing in
0:05:14 on, you know,
0:05:15 what’s wrong.
0:05:16 Also,
0:05:17 I wonder sometimes
0:05:20 if we project
0:05:21 our own disappointment
0:05:22 on our kids.
0:05:23 I’m suitably freaked out
0:05:24 about what’s going on
0:05:24 in America,
0:05:25 but what I’ve tried
0:05:26 to do
0:05:27 is not infect
0:05:28 my kids
0:05:29 with that anxiety
0:05:32 because I think
0:05:33 most kids,
0:05:34 I’m not suggesting
0:05:35 these actions
0:05:36 and what’s going on
0:05:37 won’t have real
0:05:37 ramifications,
0:05:39 but just being back
0:05:40 in the U.S.
0:05:40 for a bit,
0:05:41 I’ve been in Nashville,
0:05:42 I’ve been in New York,
0:05:43 I generally find,
0:05:43 like,
0:05:44 if I didn’t know
0:05:45 what was going on
0:05:46 in the public press
0:05:47 and watching,
0:05:48 you know,
0:05:49 Charlie Kirk’s funeral
0:05:50 and listening to rants
0:05:51 and being online,
0:05:53 or I’m extremely online,
0:05:53 unfortunately,
0:05:55 I kind of wouldn’t know
0:05:56 what’s going on.
0:05:56 and I think
0:05:57 that kids,
0:05:58 I’d like to think,
0:05:59 are in a bit
0:06:00 of a healthy bubble
0:06:01 around this.
0:06:02 I’m not suggesting
0:06:02 they shouldn’t be
0:06:03 politically engaged
0:06:03 and learn about
0:06:04 what’s going on,
0:06:06 but I like
0:06:07 kind of the innocence
0:06:08 of my kids
0:06:09 focused on
0:06:10 Premier League football
0:06:12 and their friends
0:06:13 and, you know,
0:06:15 school and college apps
0:06:16 and things like that.
0:06:19 So I haven’t done that.
0:06:19 My only suggestion
0:06:20 would be
0:06:21 to ask questions,
0:06:22 have open,
0:06:23 honest conversations
0:06:23 around it,
0:06:25 and also remind them
0:06:26 that this is not,
0:06:27 if in fact
0:06:27 they really are
0:06:28 upset by it,
0:06:29 to remind them
0:06:30 this has happened
0:06:31 before in America.
0:06:32 I keep hearing
0:06:33 discussions that,
0:06:34 oh, we’re headed
0:06:35 obviously towards
0:06:35 Civil War.
0:06:37 There have been
0:06:38 a couple moments
0:06:39 in American history
0:06:40 where we were
0:06:41 in a much worse place.
0:06:41 Anyways,
0:06:43 I think it’s interesting
0:06:44 that you’re even
0:06:45 cognizant of this,
0:06:46 thinking about it
0:06:47 from a viewpoint
0:06:48 of a parent.
0:06:49 I would love it
0:06:49 if my kids wanted
0:06:50 to talk to me
0:06:50 about this stuff,
0:06:51 but they just,
0:06:52 quite frankly,
0:06:52 aren’t interested.
0:06:54 Thanks for your question.
0:06:56 Question number two,
0:06:57 Eric from Kentucky.
0:06:59 Hi, Scott.
0:07:00 My name is Eric
0:07:01 from Louisville, Kentucky,
0:07:02 the home of bourbon,
0:07:03 horse racing,
0:07:04 and baseball bats,
0:07:05 and I am the father
0:07:06 of a current
0:07:07 senior business major.
0:07:08 I’ve spent my career
0:07:09 in corporate America,
0:07:11 specifically in technology,
0:07:12 and I don’t think
0:07:13 my son is interested
0:07:14 in a similar path.
0:07:15 As I advise him,
0:07:16 I’ve been intrigued
0:07:17 by the so-called
0:07:18 silver tsunami,
0:07:19 the wave of retiring
0:07:20 baby boomers
0:07:20 and Gen Xers
0:07:21 looking to exit
0:07:22 and sell
0:07:23 their established businesses.
0:07:25 My son is a hard-working
0:07:26 young man
0:07:27 who I could see
0:07:27 being successful
0:07:29 in small business ownership,
0:07:30 but I think about
0:07:31 the need for a foundation
0:07:32 that would serve him
0:07:33 well in pursuing this.
0:07:34 I’m interested
0:07:35 in your perspective
0:07:36 on the silver tsunami
0:07:38 and the opportunities
0:07:39 it could create
0:07:40 for his generation.
0:07:41 Acquisition cost
0:07:42 is a headwind for sure,
0:07:43 but this offers
0:07:45 an alternative path
0:07:46 with AI and automation
0:07:47 impacting early
0:07:48 and career jobs
0:07:49 in big corporations.
0:07:51 And please,
0:07:52 you folks keep
0:07:52 doing your thing.
0:07:54 I love your jokes,
0:07:55 benefit from your insights,
0:07:57 and really appreciate
0:07:57 your authenticity.
0:07:59 Eric from Kentucky,
0:08:00 it’s a really thoughtful question,
0:08:02 and I love that you’re
0:08:02 couching it
0:08:04 in opportunity
0:08:05 for your son.
0:08:07 The term silver tsunami
0:08:08 refers to the wave
0:08:09 of aging populations
0:08:09 worldwide,
0:08:11 including in the United States.
0:08:13 By 2030,
0:08:15 the entire baby boomer generation,
0:08:15 one of the largest
0:08:16 generational cohorts
0:08:17 in U.S. history,
0:08:19 will be at or beyond
0:08:20 retirement age.
0:08:21 For the first time,
0:08:22 Americans over 65
0:08:23 will outnumber
0:08:24 those under 18.
0:08:26 This wave of retirements
0:08:28 will result in
0:08:29 sort of a trillion-dollar
0:08:31 baby boomer sell-off.
0:08:32 In the U.S. alone,
0:08:33 an estimated 10 million
0:08:34 small businesses,
0:08:37 roughly 70% of all small firms,
0:08:38 are expected to go up
0:08:39 for sale in the next decade
0:08:40 as boomers and Gen X retire,
0:08:41 representing an estimated
0:08:45 $14 trillion wealth transfer.
0:08:46 However,
0:08:47 the planning
0:08:48 or the kind of questions
0:08:48 you’re asking
0:08:49 is pretty rare.
0:08:51 Less than a third
0:08:52 of small business owners
0:08:53 have an exit plan
0:08:53 for when they retire
0:08:55 or people on the supply side
0:08:56 are thinking about this.
0:08:58 Also,
0:09:00 the people inheriting
0:09:00 these businesses,
0:09:03 only 4% of small businesses
0:09:05 survive to the fourth generation.
0:09:06 There’s not a lot of kids
0:09:08 taking over dad’s car wash
0:09:09 or dad’s,
0:09:10 you know,
0:09:10 energy-efficient
0:09:12 heater installation.
0:09:14 there’s also a dearth
0:09:16 of capital going into it,
0:09:18 especially human capital.
0:09:18 And that is,
0:09:20 the example I use
0:09:21 is when I take my in-laws
0:09:22 to a dinner party.
0:09:24 People are polite to them.
0:09:25 You know,
0:09:26 they’re in their 70s now,
0:09:26 but people aren’t,
0:09:27 like,
0:09:28 kind of super engaged
0:09:29 and interested in them,
0:09:30 even despite the fact
0:09:31 they’re very interesting people.
0:09:33 People are interested in youth.
0:09:35 People are interested in growth.
0:09:36 People want to hang out,
0:09:37 whereas when I take my
0:09:38 18-year-old
0:09:39 who’s applying to college,
0:09:40 people are just sort of
0:09:40 fascinated with him,
0:09:41 want to hear about
0:09:41 what he’s up to,
0:09:43 because we’re drawn
0:09:45 unnaturally or naturally,
0:09:45 I guess,
0:09:46 to youth.
0:09:47 It’s the same in business.
0:09:48 We’re attracted to growth.
0:09:50 We’re attracted to the
0:09:50 cool new thing.
0:09:51 We’re attracted to
0:09:52 venture capital-backed
0:09:54 technology companies.
0:09:55 And the boring stuff
0:09:57 is things like
0:09:58 a senior home
0:09:58 or something to do
0:09:59 with health care.
0:10:01 And that’s where you get
0:10:02 enormous return
0:10:03 on invested capital.
0:10:03 If I were just
0:10:04 an economic animal
0:10:06 coming out of school,
0:10:07 I would try and
0:10:08 probably try and
0:10:09 position myself
0:10:10 somewhere between
0:10:11 the intersection
0:10:11 between AI
0:10:13 and health care.
0:10:13 In the United States,
0:10:15 it’s our largest business.
0:10:16 17% of the GDP,
0:10:17 I think it’s like,
0:10:18 what is that,
0:10:19 about a $4 trillion business.
0:10:21 And four out of five people
0:10:22 are dissatisfied
0:10:22 with their health care.
0:10:24 So that just all
0:10:24 spells opportunity.
0:10:26 If I didn’t have
0:10:27 a college degree
0:10:28 or was just
0:10:29 more entrepreneurial,
0:10:31 I think there’s
0:10:32 an enormous opportunity
0:10:34 in trying to identify
0:10:35 local small businesses
0:10:37 that are owned
0:10:38 by a boomer
0:10:39 who has no succession plan.
0:10:41 And I’m not entirely sure
0:10:41 how you find
0:10:42 those businesses,
0:10:43 but there must be a way
0:10:44 and then offering
0:10:44 to work with that person
0:10:45 for a year or two years
0:10:47 and then try and buy
0:10:48 that person’s business
0:10:49 if you’re
0:10:50 it’s not as hardworking,
0:10:51 scrappy,
0:10:53 good with people.
0:10:53 You know,
0:10:54 the guy who installed
0:10:55 my drapes
0:10:57 at the home I renovated
0:10:58 or my curtains
0:10:59 five years ago
0:11:01 has a nice business.
0:11:01 I would guess
0:11:02 he makes
0:11:03 clears
0:11:04 five to 700,000 a year.
0:11:05 He tells me
0:11:05 he just does
0:11:06 about $2 million a year
0:11:07 in top line revenue.
0:11:08 He’s got, I think,
0:11:08 five or six people
0:11:09 working for him,
0:11:11 a couple of vans.
0:11:11 I bet he clears
0:11:12 a half a million
0:11:13 to, I don’t know,
0:11:14 six or 700,000 a year.
0:11:15 Really good living, right?
0:11:16 Now it’s taken him
0:11:16 a long time
0:11:17 to build that business.
0:11:18 But I said,
0:11:20 what about your kids?
0:11:20 And he said,
0:11:21 his daughter
0:11:22 has no interest in it
0:11:23 and his son
0:11:25 worked in the business
0:11:25 for a while
0:11:26 but didn’t like it.
0:11:27 So I think
0:11:28 there’s a big opportunity
0:11:29 to try and find
0:11:31 small businesses.
0:11:32 Now what do you do to,
0:11:33 what if you don’t have
0:11:33 the capital
0:11:33 to acquire
0:11:34 these companies?
0:11:36 I think that there’s
0:11:37 opportunities for
0:11:37 quote unquote
0:11:38 seller financing
0:11:39 and that is
0:11:40 finding someone
0:11:41 who’s three,
0:11:41 five,
0:11:42 eight years out
0:11:43 from retirement
0:11:43 and saying,
0:11:43 look,
0:11:44 I’ll work with you,
0:11:45 I’ll learn the business,
0:11:46 then I’m going to own it
0:11:47 and I’m going to give you
0:11:48 a certain percentage
0:11:49 of top line revenues
0:11:49 for the next three,
0:11:50 five,
0:11:50 ten years
0:11:51 such that you have
0:11:52 passive income
0:11:53 and I slowly
0:11:54 but surely
0:11:54 buy the business
0:11:55 from you
0:11:56 and you continue
0:11:57 to get a share
0:11:58 of top line revenues.
0:11:58 I would be very
0:11:59 thoughtful about
0:12:00 the economics there
0:12:01 because the last thing
0:12:01 you want to do
0:12:02 is buy a business
0:12:03 and just feel like
0:12:03 you can never get out
0:12:04 from these payments
0:12:05 you have to pay
0:12:05 the original owner
0:12:07 but I think a lot
0:12:08 of these smaller businesses
0:12:09 there’s not really
0:12:09 a liquid market
0:12:10 to purchase them
0:12:12 and the person
0:12:12 who’s going to buy them
0:12:13 is really the key
0:12:14 if he or she
0:12:15 is very engaged
0:12:15 and you can probably
0:12:16 figure out ways
0:12:17 to do kind of
0:12:17 seller financing
0:12:18 if you will.
0:12:19 So one,
0:12:21 huge opportunity
0:12:23 in the silver tsunami
0:12:24 across different businesses
0:12:25 especially those
0:12:25 around healthcare
0:12:26 as it relates
0:12:26 to seniors
0:12:27 and two,
0:12:29 a lot of opportunities
0:12:30 to buy small
0:12:32 services businesses
0:12:33 whether it’s
0:12:33 pool cleaning
0:12:35 or car repair
0:12:36 or what have you
0:12:36 if your son
0:12:38 has those skills
0:12:39 and maybe even
0:12:39 the opportunity
0:12:40 to structure it
0:12:41 in terms of
0:12:42 seller financing
0:12:43 but you’re absolutely
0:12:44 thinking the right way.
0:12:45 Peter Drucker said
0:12:48 no major business category
0:12:50 has ever really boomed
0:12:51 that you couldn’t
0:12:52 reverse engineer it
0:12:53 to essentially
0:12:55 a huge demographic shift.
0:12:56 Thanks for the question.
0:12:57 We’ll be right back
0:12:58 after a quick break.
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0:15:26 Welcome back
0:15:27 on to our final question.
0:15:30 Hey, Scott.
0:15:32 A year ago,
0:15:33 I graduated from UC Berkeley
0:15:34 with a degree
0:15:35 in computer science
0:15:36 and I moved to New York
0:15:37 to work as a product manager
0:15:38 on an AI team
0:15:40 at a Fortune 500 company.
0:15:41 The paying benefits
0:15:42 are good
0:15:42 and I know
0:15:44 I’m in a very privileged position
0:15:45 especially this early
0:15:45 in my career.
0:15:47 I’ve been given
0:15:48 meaningful responsibility
0:15:49 but most of what I’m learning
0:15:50 feels like navigating
0:15:51 corporate politics
0:15:52 rather than actually
0:15:53 building great products.
0:15:55 The team is remote,
0:15:56 the pace is slow
0:15:57 and to be honest,
0:15:58 I don’t have to work
0:15:59 very hard
0:16:00 to do my job well.
0:16:01 Following your advice,
0:16:02 in my free time,
0:16:03 I’ve really leaned in
0:16:04 to building relationships
0:16:04 in the city.
0:16:06 While that’s been rewarding,
0:16:07 I don’t want my entire
0:16:08 sense of progress
0:16:09 to ride on my social life.
0:16:10 This all leaves me wondering,
0:16:12 am I wasting my early career years
0:16:13 at a company like this?
0:16:15 And how should I be thinking
0:16:16 about making the most
0:16:16 of my time
0:16:17 both inside
0:16:18 and outside of work?
0:16:19 Thanks, Prof G.
0:16:21 So first off,
0:16:23 it’s really good to be you.
0:16:25 You’re living in New York,
0:16:27 you’re working in AI
0:16:28 and you have a degree
0:16:30 in computer science
0:16:32 from the best public school
0:16:33 in the nation
0:16:34 or what I believe
0:16:35 is the best public school
0:16:36 in the nation.
0:16:37 What I would suggest
0:16:38 is if you don’t feel
0:16:38 really challenged,
0:16:38 first,
0:16:41 be as social as you can.
0:16:42 Don’t change anything there
0:16:43 as long as you’re not out
0:16:44 getting fucked up every night
0:16:45 and drinking too much.
0:16:47 Being out and being social,
0:16:48 this is a point in your life
0:16:49 where you should be finding
0:16:50 friends, mentors, and mates.
0:16:51 So I wouldn’t dial back
0:16:52 the social part,
0:16:53 especially living in New York.
0:16:54 This is a playground.
0:16:56 Go out and enjoy it
0:16:57 as long as it’s not getting
0:16:58 in the way of your ability
0:16:59 to be productive the next day.
0:17:00 Be the guy that goes out
0:17:01 and goes home
0:17:02 at a reasonable hour.
0:17:03 Don’t be the person
0:17:04 that sticks around
0:17:05 and orders a bottle
0:17:06 of Grey Goose
0:17:07 at one in the morning.
0:17:08 I used to be that guy
0:17:09 when I first moved to New York
0:17:09 and was working
0:17:10 in Morgan Stanley.
0:17:12 We used to pool our vouchers
0:17:13 for a car,
0:17:15 the money we’d get for dinner,
0:17:16 and then we’d all go out
0:17:17 and party and somehow
0:17:18 convince ourselves
0:17:19 that it’s okay to stay out
0:17:20 until 1 or 2 a.m.
0:17:20 on a Tuesday night.
0:17:21 Anyways,
0:17:22 don’t be that guy.
0:17:24 But absolutely,
0:17:25 I wouldn’t dial back
0:17:27 the social part of your life
0:17:27 unless you feel
0:17:28 it’s getting in the way
0:17:29 of your professional life.
0:17:30 In terms of the company
0:17:31 you’re at,
0:17:32 I think that being
0:17:33 in an AI group
0:17:34 of a corporation
0:17:36 is a great branding event.
0:17:37 And you also,
0:17:38 when you’re younger,
0:17:39 you want to learn
0:17:40 and you want to set yourself up
0:17:41 and build a platform
0:17:42 for future scale
0:17:43 and success.
0:17:45 And you want to workshop careers.
0:17:46 And it doesn’t sound like
0:17:47 you’re that challenged there.
0:17:48 So a couple things.
0:17:49 One,
0:17:50 I personally think
0:17:51 at your age
0:17:52 that the office
0:17:52 is a future,
0:17:53 not a bug.
0:17:54 That you want to be
0:17:54 in an office
0:17:56 getting more regular feedback.
0:17:57 I really needed,
0:17:58 I didn’t have the discipline
0:17:59 to work remotely
0:18:00 when I was your age.
0:18:00 So I’m glad
0:18:01 it wasn’t available.
0:18:02 I had to put on a tie,
0:18:03 get up at 7 a.m.,
0:18:04 put on a tie
0:18:05 and haul my ass
0:18:06 into Morgan Stanley.
0:18:07 And my boss,
0:18:08 this wonderful man
0:18:09 named Carter Cordner
0:18:10 would on a regular basis
0:18:12 pull me into a conference room
0:18:12 and say,
0:18:13 don’t say that
0:18:14 or that was good
0:18:15 or keep doing this
0:18:15 or, you know.
0:18:17 And I needed that.
0:18:18 I needed
0:18:19 kind of the skills
0:18:20 and socialization
0:18:21 to read the room.
0:18:22 I used to have
0:18:23 to give the update
0:18:24 for the fixed income department
0:18:25 in front of the entire office.
0:18:26 because my boss
0:18:27 didn’t want to go.
0:18:28 And that was great training
0:18:29 for me to do it in person
0:18:30 because it was nerve-wracking
0:18:31 and slowly but surely
0:18:32 I became less nervous
0:18:32 doing it.
0:18:34 So a couple things.
0:18:35 One,
0:18:36 if you’ve been there
0:18:37 less than two years
0:18:37 and it’s a good job,
0:18:38 I would just stick there
0:18:39 no matter what.
0:18:39 You want to be seen
0:18:41 as someone who can show up
0:18:42 and stay somewhere.
0:18:44 I would also consider
0:18:46 if you have a good relationship
0:18:47 with someone
0:18:48 in the organization,
0:18:49 a mentor or your boss,
0:18:51 I would express
0:18:51 very openly
0:18:53 your concerns
0:18:54 and say,
0:18:55 is there an opportunity
0:18:56 for me to be
0:18:57 in something more challenging
0:18:59 that’s maybe on a,
0:18:59 you know,
0:19:00 a faster career path
0:19:02 and see what’s available
0:19:03 inside of the company.
0:19:04 One of the most frustrating
0:19:05 things that’s happened
0:19:06 to me as a boss
0:19:07 is when someone comes in
0:19:07 and tells me
0:19:07 they’re leaving
0:19:09 and they say,
0:19:09 well,
0:19:11 I’m going to get to manage
0:19:12 two people at this company.
0:19:12 I’m like,
0:19:12 well,
0:19:13 if that was your priority,
0:19:14 we would have figured out
0:19:15 a way for you
0:19:16 for the next couple of hires
0:19:17 in your group
0:19:18 for you to manage.
0:19:19 or strangers
0:19:21 always look more attractive
0:19:22 than the person
0:19:23 you’re actually with
0:19:25 and that’s the same
0:19:26 is true of corporations
0:19:27 and that is the idea
0:19:29 or the concept
0:19:30 of a different company
0:19:30 you think is probably
0:19:31 going to solve
0:19:31 all your problems.
0:19:32 What you want to see
0:19:33 is if you can solve
0:19:34 those problems
0:19:35 with the company
0:19:35 you’re at currently,
0:19:36 especially if you’re
0:19:37 doing well.
0:19:40 So what’s the advice here?
0:19:40 One,
0:19:42 be as social as possible
0:19:42 as long as it’s not
0:19:43 getting in the way
0:19:44 of your day job.
0:19:45 Two,
0:19:47 if you’ve been
0:19:47 at your firm
0:19:48 less than two years,
0:19:49 I’d probably stick around
0:19:50 unless you hate it.
0:19:52 And three,
0:19:54 maybe investigate
0:19:55 other opportunities
0:19:55 if you have a mentor
0:19:56 you can be open
0:19:57 and honest with
0:19:58 about trying to find
0:19:59 what it is you want
0:20:00 within that company.
0:20:01 And four,
0:20:03 if it’s,
0:20:03 you know,
0:20:04 kind of none of the above,
0:20:06 just start interviewing.
0:20:07 It’s much easier
0:20:07 to find a job
0:20:08 when you have a job
0:20:09 than it is
0:20:10 to find a job
0:20:11 when you don’t have one.
0:20:13 But let me just circle
0:20:14 back to the beginning.
0:20:15 It is really
0:20:16 good to be
0:20:17 you,
0:20:17 my brother.
0:20:18 To be an AI
0:20:20 at a big corporation
0:20:22 with a credential
0:20:23 in computer science
0:20:23 from Berkeley,
0:20:24 you know,
0:20:25 your biggest issue
0:20:26 or your biggest problem
0:20:27 is not what to do,
0:20:28 it’s what not to do.
0:20:29 And I trust you
0:20:30 take stock of your blessings
0:20:31 around,
0:20:31 you know,
0:20:33 you’re living in New York
0:20:34 that your worst days
0:20:35 are probably better
0:20:36 than most people’s best days.
0:20:37 I very much
0:20:38 appreciate the question
0:20:39 and congratulations
0:20:41 on all your success today.
0:20:45 That’s all for this episode.
0:20:46 If you’d like
0:20:47 to submit a question,
0:20:48 please email a voice recording
0:20:48 to officehours
0:20:50 at propgmedia.com.
0:20:50 Again,
0:20:51 that’s officehours
0:20:52 at propgmedia.com.
0:20:53 Or,
0:20:54 if you prefer
0:20:55 to ask on Reddit,
0:20:56 just post a question
0:20:57 on the Scott Galloway
0:20:57 subreddit
0:20:58 and we just might
0:20:59 feature it
0:21:00 in an upcoming episode.
0:21:02 This episode
0:21:03 was produced
0:21:04 by Jennifer Sanchez.
0:21:05 Our assistant producer
0:21:06 is Laura Janair.
0:21:06 Drew Burrows
0:21:07 is our technical director.
0:21:08 Thank you for listening
0:21:09 to the PropG pod
0:21:10 from PropGmedia.
Scott answers a listener question on how to talk to your kids about the country’s growing divides, explains why a “silver tsunami” of retiring Boomers could unlock huge opportunities, and offers advice for making the most of your early career.
Want to be featured in a future episode? Send a voice recording to officehours@profgmedia.com, or drop your question in the r/ScottGalloway subreddit.
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