Scott Galloway Describes the Tough Future Facing Gen Z | WSJ News
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- เผยแพร่เมื่อ 9 มิ.ย. 2024
- Rising costs of living and education have presented unique challenges for Gen Z. NYU Professor of Marketing Scott Galloway describes the inequities in opportunity and education young people face, while offering possible solutions.
#Education #GenZ #WSJ
It's refreshing to hear someone admit that his success wasn't solely based on his hard work but that the bar was lower and allowed for more people to develop their human potential.
The thing that he doesn't address is that we have more millionaires now than ever in US history. This means that if you put in the work you can make it into the 1%. There's just too many people making excuses these days. The doors have never been wider open to gain wealth and assets....
Well with inflation a million is not what it used to be…
@@Chad_Max Keep in mind that many of these newly minted millionaires came into their wealth as a result of the massive spike in home values rather than sheer industriousness on their part. Don’t get me wrong, purchasing a home has generally always required a degree of work ethic, but this is phenomena is more of a case of right-place right-time than anything.
@@spurtreynolds7060or they inherited it from the richest generation
@@spurtreynolds7060 similar to the crypto meme millionaires who never left their desk.
I’m glad he admitted to NOT being qualified yet still got an opportunity for school.
He turned out to be a fine progressive, even giving $100,000 to AOC . . .
@@ELDTAdventures-tp9jy Just can't be black doing that...otherwise it's "DEI...durr durr....equality of outcome...durr durr...."
So, do you think parents who did well of their own initiative should be forced to not give their children a good start?
@@ELDTAdventures-tp9jy Ms. Clueless
@@ELDTAdventures-tp9jy no one's perfect :)
I have listened to this man speak 3 or 4 times now on TH-cam. From occasion to occasion, he recites his info clearly, and precisely, and it doesn't change. He speaks with clarity, precision, and earnesty. And he speaks with evident, clear passion for the topic. As a 22 year old man in America, this boomer is fighting on my behalf and I will continue to support him every second. As of today, while I remain vigilant, I see Scott Galloway as a genuine person. Somebody else already said it, give him more airtime.
His solutions can be very bad. No one ever questions his solutions to the problems. His solutions go unchallenged.
Like what? Color blind affirmative action based on economic need and adversity? Kids voting at 63% like seniors rather than at 42% on a good year? Give a couple of examples, please.
Be careful. I like what he says here but I have also heard him shilling for corporate America. Interesting guy to be sure.
@trancendental5373 Well, that's his world-lens, for sure. What bothers me is that the immediate emergency besides the finance issues, and would argue far more critical, is Criminal Defendant One winning the election. Devastating for any kind of optimistic future that has to do with the climate emergency and democracy. Both far more potentially super catastrophic. And not one word or one anything about those two which would hurt young people far more because how can it be reversed? If we lose our democracy? If we lose our climate? Which we are already, losing climate AND democracy, are you freaking kidding me????
@@DaDestroyer1986 I haven't learned enough about the topics to challenge his solutions, I would love to hear from you on what issues there are. However, this is a competent, decent human being (unlike most influencers and politicians) speaking thoughtfully on issues I care about. I will continue to back people of such character.
Due to the high cost of housing in comparison to my parents' generation, I am 42 years old and can now finally afford to buy a home. To help my kids buy a house in the future, I am even setting aside additional money for them now. This guy is right on. Huge admiration from the west of Europe.
I am 70 and I’m hoping to pay off my house so when my son inherits it, he has some “generational wealth” passed to him without incurring debt. I worry far more about him (37yo) than I EVER have about me. Now I’m watching interest rates climb, food costs soar, house insurance becoming unaffordable etc. I hope my son will have a quality, healthy and fulfilling life and not have to struggle for basic needs. He’s a college graduate, put himself through school and struggles to get a middle class job.
nice conversation, but it is not the first instance of that kind of thing occurring in the US. It did really occur between 1929 and 1941, as well as in the late 1800s and mid-1900s. They must engage in more fruitful activities. One of my cousins is now a millionaire because I referred him to a Portolio manager.
can i get more information about him /her please
Her name is “VIVIAN CAROL GIOIA” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Finally someone who understands the issues through and through. Scott needs way more airtime.
How do you know he understands the issues? Could it be that he just talks a good talk.
@@MagruderSpoots What part of what Scott said do you think is wrong?
@@incognitotorpedo42 I didn't say he is wrong, I'm asking the OP how he knows Scott understands.
Gen Z is the richest generation yet
@@S62rthat’s a good one. Go read about inflation, compound interest, and the boomer generation. Come back, and tell me again that gen z is wealthier.
If employers complain there is a shortage of trained workers, train more people. Dude makes sense.
in 1970 we used to give new workers on average 2-4 weeks training. Today we give employees about 5 days training before we fire or determine if they will work out.
These companies and others want American Taxpayers to do and pay for it .
I got certified in a new field & never got a job cause every place wanted year’s experience. I would ask how’s anyone new supposed to gain this experience? Nothing. Common sense is gone.
Most workers are too lazy.
Most employers have forgotten what it means to compete for workers. Employers just want to hire someone with 10+ years work experience who is willing to work for cents on the dollar.
the older generation no longer care about creating a better world that only their children will experience, instead exploit it as much as you can before you go
Dam straight.
I literally had a boomer pointed out to me that I could have bought vacation homes instead of paying for education and activities of my 3 children. I am Gen X.
Baby boomers protested against war, racism, LGBTQ discrimination, and helped to establish abortion rights and environmental laws to improve the world for the younger generation. The real question is: what are the current/younger generations doing to create a better world for the next generation?🌍✊🏼🌈
@@Jakes4567 None of this matters if young people can't have a decent life economically. I am GenX and I got lucky with the right career choice in the 1990s. But I can see that people would not be able to do as good as I did in terms of buying a house and raising a family today, even if they went the same career.
@@arktseytlin But literally every generation has faced financial hardships. It's not like millenials and Gen Z are the only generations that have ever had to struggle finacially. The only thing that sets millenials and Gen Z apart from previous generations is that previous generations couldn't come on TH-cam to complain about it.....Besides, I know plenty of millenials and Gen Zers who got lucky and were able to buy a house, while here I am a Gen Xer still working on trying to buy one.
Scott Galloway is THE model of leadership we need in the world.
He is a con artist
What's your definition of leadership?
@@briaf3370 someone who’s a leader or who’s an example or an inspiration. He is neither
Galloway is just another luxurious Boomer. At least he's talking about awareness.
He does not have a real solution
@@briaf3370 - - based on the video I think it’s clear what Mr Galloway would bring to the table. What’s your definition of leadership?
It’s insane how on point he is
He's a smoke screen. Let me break down the game for you. It all comes down to this: political corruption. Ok? Get it through your heads. It's not "the boomers", it's "the VOTERS", it's "the politicians", it's "the lobbyists", it's the "multinational mega corporations" seeking to control, it's the "old money families" aka the hidden hand, it's the "foreign states" and "globalists" who want to draw your power and wealth out into the world. Nationalism has been demonized because it focuses all the power and wealth internally.
Wowza
Finally someone is clearly articulating the rot in society.
Well some of us poors articulate it well, but "they" don't care unless it comes from one of "them".
This guy is a rockstar. I met him last month at his book signing. Few people speak this much truth.
you're right, millenial
Many people speak this truth. Its been silenced until now
Realness, intelligence and anger. It wells up beautifully in this man. It gives me hope
He is progressive lite
its an act.
@@hayekianman cool
He's actually a professor I would be happy to have if I were to study marketing in college
He doesn’t know anything himself
As a person that has a Masters license in Plumbing, I want to point out a number of states require 4 years of schooling at night, along with 4 years of 8 hours a day working to just become a Journeyman plumber. This also true of a number of trades. We don't just show up and are trained on the job and i hope Scott Galloway understands this. The reason it takes 4 years, is there is a lot to learn both in school and in field working. One of the greatest blessings that has been for working in a trade, is can fix 95% of any issues in my home. I really like Scott take on where we are going. Average age of a tradesman is 45. If people think plumbers are expensive now, wait until there is the work force has shrunk more and the cost of labor has really gone up. Average journeyman plumber is making between $40 to $60 per hour depending on the state they work.
Very well said!
I’m a journeyman electrician and turning 27 years old in two months. An apprenticeship in a skilled trade is not an easy pathway as most people would like to believe. You are spot on with the schooling, field experience, and all the overtime required.
YES.
My brother is a mechanic and it’s similar for him
If I may ask, how did this requirement, if you are able to tell, had changed from, let's say 70's to present day?
@@MrToradragon I and many others had to figure things out for myself while dealing with all the guilt tripping, shaming, insults and bullying from other people around me when I chose pre-apprenticeship way back in high school.
Also, you older folks back then could work any type of job (blue, white, service collar) and still make it to a comfortable middle class level or even upper middle class with relative ease. These days, not so much for my friends and I.
For example, one of my mom friends (her and her husband) started working as grocery store clerks/cleaners back in the early 1970s. Eventually they worked their way up to store department managers but by the early 1980s, they both could afford a modest home, two children and a basic car in a city suburb with incomes that were only a few dollars more than minimum wage. These days, if any young person were to do that, they'd be financially broke and would have to work another 2-3 jobs just to barely skimp by.
@@alexsmith-ob3lu I know that my sentence seem bit old-fashioned, but I am not native speaker and I tried to be polite, no I am not member of older folks.
I have just wondered, whether those fields are also subject of something that can be described as "qualification inflation" - situation where for the same job you need higher and higher education.
I’m South African, now living in Canada. Scott Galloway is becoming my new HERO!
Why what did he say of any importance?
Is he?? Watch your wish
Boet, come back to SA.
Even with his pro-zionists propaganda?
Listen to the 2nd half
I am 42 and finally able to buy a house becouse the cost is so big compared to my parents generation. I am even saving extra for my children so they can buy a house later in life. This man is spot on. Much respect from western Europe.
I am 70 and I’m hoping to pay off my house so when my son inherits it, he has some “generational wealth” passed to him without incurring debt. I worry far more about him (37yo) than I EVER have about me. Now I’m watching interest rates climb, food costs soar, house insurance becoming unaffordable etc. I hope my son will have a quality, healthy and fulfilling life and not have to struggle for basic needs. He’s a college graduate, put himself through school and struggles to get a middle class job.
This dude is absolutely torching the contemporary liberal orthodoxy, as a liberal. Finally. Finally. Conservatives can talk to we’re blue in the face, but until heroes like this step up, nothing will change.
Nothing is going to change. Liberals heard him, but didn't listen to him. And when he was done, no one clapped. That is because, well, they have everything to LOSE if they implement the policies that he is espousing. He asks in the Ted talks, do we love our children? Largely, the answer is no. And largely, the reason why is something that Scott Galloway would never admit: we've lost God.
Not really he’s just exposing you to liberal ideals that aren’t filtered or distorted by conservatives.
The problem here is that he is NOT talking about the fundamental problems to explain why young Gen-Z men are doing what they are doing. He never mentioned no-fault-divorce law or immigration. So, its all just talk,
@@sundance2202 I literally live in the Bay Area, where liberals complain about the housing shortage but refuse to change zoning laws or reduce regulation. Where they step over people with needles in their arms and human waste on the sidewalk, then call cops bastards. But please, tell me more about how my experience of "liberal ideals" is filtered or distorted by conservatives.
@@paulcolburn3855 Respectfully, it's a start. No one will have the entire right perspective or answers.
Hurray for pointing out the need for vocational training/certifications!! SO many areas of our society struggle mightily to fill the need for skilled workers!! I’ve observed the respect that vocationally-trained individuals get in Germany. They make a good living and people don’t give them grief for not going to Uni!
Our society (American) needs to adjust our attitude and not be such snobs!
The American Bourgeoisie sickens me as a rural poor person, and that's the representation that gets looked upon by the rest of the world. Rich vs. Poor is a tale as old as time itself.
I think we need more vocational training, but I think there should be free community college general education attached to that. I was against this whole "well rounded education" when I started community college, but City College of San Francisco is full of professors who changed my mind and showed me how powerful general education is. Because of that, I can formulate logical arguments to negotiate my salary and formulate better logic to contribute to my community. I'm so proud that CCSF is free now, and people can educate themselves. I just wish we could do this through the university level, because after City College, I had to take on massive debt to finish my 4 year degree. This wouldn't have been the case if I was in Europe.
A boomer that actually cares about future generations is a rare sight.
When you only listen to be a victim, you aren't able to hear the solutions. Stop ignoring things that are hard and do the work to get what you want.
Yeah he isnt a boomer
Nah, he just panders to the youth to make money, think about it this way, he's a boomer that self admits to have all the boomer privileges telling people that his generation has taken advantage of, how unfair he has treated them...hmmmm...maybe speak through action more than words?
@@bin31zz hes literally worth more than 100million usd from his businesses, internet income is irrelevant to him
Yeah hes not a boomer 😂😂😂
Ban investor purchases of single family homes. Period. Even small mom and pops. No more investors buying single family homes
Or better yet, increase the supply of homes by getting rid of insane bureaucratic laws that boomers demanded to "protect their investments".
No, that is just a band-aid. Increase the number of houses, and those investors will quickly get out of the housing market. House should be places to live and raise a family, not investments.
@@MrCiaranm wrong, the problem can no longer just be built out of. It's wishful thinking and naive. Before we start increasing density, ban investors first. Then we can see where the supply and demand falls to know how many homes to build. Until you remove the investors out from the equation, you haven't done anything
@@jgg204 How does an "Investor Ban" work, I would assume the government decides who is an investor and prevents the sale. The thing is, government has tried to influence the housing market and investors for decades. Tax and mortgage deductions, favorable capital gains rules, business expense and depreciation deductions. None of it has worked to increase home ownership rates and there has been some success in business creation, but more and more it has just been manipulated to provide more to those that have.
I believe the solution is for the government to wind down their support for investors and home ownership. When there is a market to simply build houses people want (reduce zoning and permitting red tape), where they want them, then a house as an investment will simply disappear. It will return to the past, houses as a place to live in a community.
No business should own homes, with a very few exceptions like half-way houses and womens' shelters.
My man here admitting that it's an intergenerational / class centric conflict of interest in the western world today. He's saying the quiet part out loud and should absolutely be lauded for having the courage to do so.
Thank you finally a boomer that understand because he actually did his research 😅
Galloways head is full of boom boom.
Gen x
He's not a Boomer, he's a Gen-Xer. I know we have the same age.
Your statement is segregating
@@tres5533 Scott was born November 3, 1964. Boomers are considered to be people born from 1946 to 1964, so he's a boomer by a scant 7 weeks. Almost an X-er.
I seriosuly do not understand the hate revolving around Scott, he's so spot on it hurts!
He's trying to take away all the money the Boomers stole! Of course they're going to hate on him.
what hate.
I don't think he is wrong. But he also isn't overlaying enough of his thoughts with monetary and fiscal policies. Those are the root causes of so much of what he observes. And the US isn't unique in that regard by any means.
Scott voted for all of this. He will vote for it again and again in every election.
@@johndeaux3703 he won't suffer a bit
Mr Galloway has it right. We need to make things easier for young people and encourage a better future for them. Im 72, and my kids have done well, but I see many that arent. Those who don't succeed in life only cost us in heartbreak, grief, and loads of money. Whats wrong with thinking about our young people for a change.
Nice to see a comment from someone older than 30! I hope you were listening when he basically says your generation has the power, at the moment, to do something about this. Will you ask your local representatives what they are doing in your own community to help bring up young people and get them into good training, or speak to local schools about grants, I wonder? Thanks for contributing to the discussion!
I'm 33, at 18 my mom told me to go to college or get out. I was forced to go years before I was ready and now I can't go back because I'm $10,000 in debt. I've tried 6 times to go back to college and no one will accept me just because I have debt I can't pay back.
I'm currently IT for NASA.
That's Awful. NASA. How'd you get in there if... you're trying to get your masters?
That stinks …I hope your student loan gets forgiven.
@@robertlee8805 you don’t need a masters degree to work in IT
you can still do well without a degree, but your ability to get promoted or job hop is capped significantly
Same exact store except $60k in debt working of NASA. No college degree tho. Just 148 credits
Actually our most lucrative businesses need to apprentice young Americans. We need to incentivise these programs without all the crazy college debt.
The accreditation agency will never acknowledge the direct competitor of the existing racket. Figure out how to bypass this "toll collector"
Strippers & Drug dealers found a great way to supplement thier income while in college they paid thier tuition, rent ,cars,and some party favors at the same time maybe its time to get creative after all this is America its time to start thinking iut aide the BOX "LAW" 😂😂
His TED Talk was so on point!
It sounds like he memorized it. This is almost word for word, the same as the TED talk.
@@joebrown9965right
I really hope he’s setting himself up for a presidential run.
A podcaster courting the group who votes the least by criticizing the group that votes the most? That won’t work well.
@@billusher2265as if timing isn’t a factor in this hypothetical?
He's a good speaker and he has good ideas. I don't know if he would be a good president, it's a different skill set managing the politics of it all
@@Rej-gc5ziDon’t forget we had an actor as president at one point and a lot of people loved him.
Been listening to Scott for years and never would have liked myself to have thought he could run for pres, but with the situation as it is - he is a very strong potential candidate, and a really great guy. I look up to him a lot, all the way from New Zealand.
This is the kind of perspective we need to bring to the table. It encourages discussion across the aisle.
Both sides of the Aisle are 80 year olds so nothing changes.
@@BradimooseWhen the younger gens act like idiots, they don't deserve leadership.
He hits the nail on the head. I dropped out of school at 17 and started working. It took me approximately 10 years to get to the same level as my peers who went to college. However I have no debt, which enabled me to buy a house where a lot of people I know struggle. I feel I do not have much to look forward to in the future just like the rest of my generation. We have all been told go to college to win at life, yet most college graduates work mediocre jobs for mediocre pay and people who actually learned a trade get paid much better due to simple supply and demand. The world needs mechanics, plumbers, carpenters, nurses. We cannot live in a world of just doctors and lawyers.
I hope it will get better but I am quite confident things will get much worse before they get better
I’m 33 and I feel like I’ve gained more insight into what the wealthy are doing and why in the last hour, watching Scott Galloway speak across various videos, than I have in the last 20 years of listening to politicians consistently distract people with misdirection and lies. Bravo Scott.
My college tuition was raised by $5,000 during my time as a student. I pressed them time and time again to release the budget because they removed extra-circulars, but didn't add any new programs. They told me as a private university they didn't need to release any finances. It was incredibly frustrating.
It's shameful how the younger generations have been forced to work their butts off, done the right thing in getting educated or skilled, and may still struggle to obtain a middle class life. Further to that is the investment in to the very young- toddlers and k-12. Its shameful that you have to have rich parents to have a shot at a comfortable life. Older folks need to wake up and really understand the legacy they are leaving their kids and grandkids.
The older gens found what worked. What's your problem?
@@fatmonkey4716 By "found what worked", you mean they voted for politicians that gave them massive government handouts at the expense of younger generations?
I didn't have rich parents. Work harder.
younger generation forced to work their butts off??
I can’t even with this.
@@twoinchtapeforcing to work their but off, to never become a home owner. Bassically working their entire life just go pay rent
Nothing is going to change.....,
Exactly. Scott will do the rounds, get paid for it, and those with power will ignore him and go on business as usual and forget it in favor of their next trendy tv series about people as wealthy as the speaker.
@@charleskaplan3567 They deleted my last comment. America with all its talk about rights, freedom, and constitutional rights, entities, like WSJ sure have a hard time with the truth. I dare not criticize the great "Scott Galloway." As a veteran that thank goodness does not live in the hypocritical country of America any more, this is typical.
@@biashacker Well these, "thought leaders", are all that these corporations have in order to keep people working for underpaid jobs in inflation economies. Nothing can be done. They own everything even thought.
Defeatism doesn’t make you smart or interesting
@DefenestrateYourself Zits not about being "smart or interesting". Its about callin it like it is.
Scott thank you for paying your taxes!! That's a flex I can appreciate.
Paying your taxes isn't losing...it's patriotic.
My taxes go to Ukraine, Israel, defense contractors, and illegals.
I'm done paying.
Taxation is theft
And he’s been teaching practically for free for the last 20 years
And being happy to be paying those taxes. The fact that we are using our taxes to make a selective group rich is not the IRS fault. It's our politicians who are happy to show off their for sale signs.
Respect the way Scott thinks these issues through
Run for President Scott, you have my vote.
Clear vision on economics - clouded vision on Gaza/Israel situation.
This is the best thing I’ve seen in ages
THANK YOU for speaking for the millions of young people who have no voice or influence.
This is the first time I’ve seen him mention ranked choice or a different voting method. And mentioning how little younger people’s votes are without money as leverage. It’s amazing seeing him dig deeper and evolving his message. He may be the only adult that understands the young population. (Look into STAR voting please).
Galloway knows that training in the trades is a great path.
I can tell you from experience that going to a top university doesn’t necessarily mean you get the best education. I went to a top 5 (UK) university and a university ranked 30-ish because they were the few ones offering the course I wanted to do. It was so much better, smaller classes, better lecturer attention and it felt like they cared about my performance whereas at the top tier university, I was another one of 150+ students in my class, the lecturers had no real interest in their students (to be fair they have a lot of pressure to research, publish…etc). I learned more in the lower ranked university than the top one but undoubtedly it’s having the top tier university on my CV that landed me the job interviews. So now when people say to me, I went to this prestigious university it means nothing to me. It says more to me where you started, what you did and where you are now. It really is that simple.
6:33 - NAILED IT!!!!! the meaning of living is not for us but our children!!!
👏 Scott hits the nail on the head! It's time for society to address the unfair economic treatment of young people and advocate for policies that promote intergenerational equity and opportunity. Let's work towards a future where everyone has a fair shot at success and prosperity.
Because communism has worked out so well?
Gen Z could start by saying no to useless degrees.
The free market? No war? No draft? Most young people pay no income tax. 12 years of public education?
@@MagruderSpoots That's completely irrelevant, but yeah, communism has been working well. China is running state capitalism like Marx prescribed, and they're running laps around the west.
@@iverbrnstad791 China LOL. Buildings are falling down in China, bridges are falling down in China, concrete is being reinforced with bamboo made to look like steel rebar in China, people take oil out of the sewers (gutter oil they call it) and cooking with it, governments are corrupt at every level, demographic collapse is coming for China, environmental standards are non-existent.
And there is no such thing as state capitalism. And Marx suggested no such thing.
"Affirmative action is amazing. It should just be based on need and adversity" yessssss.
We need people who are more concerned about their children and grandchildren than they are about themselves.
A typical student on our State U campuses is paying $3k+ a month for tuition and shared housing/food and generally is lucky to make $1000 a month in income from a student or retail job.
@ 7:00 he says the U.S. spends the least per capita of any nation in the West. The National Center for Education Statistics lists expenditures per ffull-time-equivalent student for elementary and secondary education by OECD countries. Luxembourg in 2019 spent $25,600 per student and is the highest spender. Second is Norway, spending $18,000 per student. Tied for third place is Austria & S. Korea, spending $15,500 per student. Fourth is the U.S. spending $15,500 per student. Trailing behind is Iceland, Belgium, Australia, Sweden, Germany, Netherlands, United Kingdom, Denmark, Canada, France, Finland, Italy, Czech, Japan, Portugal, Slovenia, Ireland, Spain, Israel, etc...
I'm not sure what he was referencing exactly there either. Your right about education. Maybe he was claiming in total relative to other services?
US public spending on child care is definitely the lowest. More than 97% lower than the OECD average last I checked
Galloways message resonates because every word of it is true.
I gew up extremely poor. My parent 's income was counted against me when applying for financial aid, even though they weren't helping me at all with college or any other assistance. So I had to wait til my late 20s to go to college and I still haven't been able to afford to finish my degree. I'm still paying off my loans from my AA. My friend's dad was a contractor. They had a swimming pool in their backyard. She got a Master's degree for free because she's a part of an ethnic minority.
Same here bro
College should be free , also Trade Schools . This benefits everyone . We need more Nurses and Dentists and Doctors .
Amen Brother! Preach!
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@mikegarvey17Could you possibly recommend a CFA you've consulted with?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Gertrude Margaret Quinto ” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I agree with everything he’s saying except Social Security. I have worked since I was 16 years old and and I am owed every dime. This being said, wealthy people who don’t need it should not take it. Scott Galloway is extremely wealthy so he doesn’t understand that the vast majority of American seniors need Social Security to survive.
you and him actually agree/have the same idea so i think you misunderstood.
If you listen to other videos where Scott talks about Social Security, he specifically mentions about the wealthy not taking it, and that they should tax more higher income levels to fund it.
Agreed, his SS take is nonsense!
Social security isn’t transferring wealth from young to old, it isn’t an “entitlement” as many likely to claim either. It’s something we all pay into till we can retire and then if we live long enough to retire… we can get some of what we put in back. So if you start working full time at 18 and retire at 67 (the current full retirement age), that’s nearly 50 years, just to get maybe some back maybe 10 to 15 years.
Those years are also the years we are likely to be dealing with health issues, so it’s hardly “golden years”.
Living to 100 How can we afford it? (WEF). Look for the table about Unfunded Liabilities. Everyone it says it all really. The World Leaders are moving away from the 1940s era Welfare State. Time to plan to live well now because past 50 looks pretty f#@$ed.
SS is set to be insolvent by 2043. So, in 10 years it’s pretty much gonna start going by the wayside. The only way people are getting it now, is by the people who are currently paying into it. Then it runs out for the next generation??
Stop sending American tax dollars overseas- problem solved
Scott will you please run for president?? You seem to have America’s best interest at heart, a solid understanding of what ails us, and solutions that cut across party lines. On top of that, you are charismatic and captivating to countless people.
Social security to seniors isn’t a gift. It is returning the money of people who gave it plus the interest that money earned.
Agree. I've been paying this for 20+ years. Giving it back to me isn't a transfer of wealth, it's repaying what they took
The government didn't take your money and store it in an interest-bearing account for you: They took some of your money and immediately handed it to some seniors at the time you earned it. Now the only way to earn "interest" is to demand that young people hand you even more money than you yourself handed away previously. What could possibly go wrong with such a system?
@@justinbarron5885 You have explained “what is done” with my money while the topic under scrutiny was “why it is my money” and not a “transfer of wealth” as the professor states in the video. Had the government not taken my money, I would have invested it in an interest bearing account. That is what is rightfully owed by those who took it. It wasn’t a gift. It was mine, taken from me with a promise from my government to return it with interest. What they have done with my money does not negate the promise or what is owed.
I agree with mainly everything this guy says. The only thing I’ll add is that we have relied too much on the government to solve our problems but it will be in our homes where the future is made secure. The government takes more and power because we have depended on them more and more to fix what has been the result of the decay in our morality.
Usually, the government is the root cause of most of the nation's problems. It's definitely NOT the solution! Why should a bureaucrat of a department that's set up to solve a problem actually solve the problem hence eliminating its reason to exist?
As a young conservative dude who recently discovered this guy, I gotta say he scored some more points with me here.
From personal experience, I’ve seen the student debt completely ignored at faculty and admin meetings in post secondary. We know that students are graduating in massive debt. We know that their chosen arts degree won’t provide them the skills to pay the loans back.
Here’s an average meeting:
Land acknowledgement
Vote on additional arts classes
Vote on changes to administrative rules.
Then DEI discussion
End with concerns for our jobs in light of the government’s changes to higher ed.
We don’t talk about students unless it’s “student experience”.
I had student loans, it took me 22 years at 500 a month to pay off. The majority of faculty never had student debt.
Great Interview, spot on & unwavering. reminds me of the Jeff Daniel's monologue from HBO's newsroom pilot.
The reality is a lot of these universities have incredible administrative bloat. I got into a public university that had a $1B endowment (tbf a lot went to research) and barely had any scholarships available. I had to withdraw and go to a tier 2 university. There is so much cost cutting that could happen at most universities that would make it so students don't have to fork over so much money. But a lot of universities operate as a research and hedge fund facility.
Scott Galloway is changing the world for the better
Younger millennial. Bit the bullet and bought my home in 2021, because it was so much more expensive to rent. Previous owners bought it for $250k ten years ago. Did zero work or updating on it. I got it for $700k and that was UNDER the market value. It's not a great house, its four walls and a roof and has a furnace. I'm never gonna retire or have a kid and I'll be housepoor forever, but at least I'm not renting from a corporate slum lord, I guess? I should have bought a home in 2009 like all my elderly coworkers keep saying, but I was literally a child so that makes it a teensy bit more difficult. So yeah, what's the point of anything?
ouch, i hope the house doesn't become a burden for you with all the taxes and insurance issues we have going on this country. I bought my first place in 2010 for 150k (a townhouse) and then 305k in 2016 (single family). I can't imagine the costs of 700k right now, it's giving me anxiety.
people need to stop striving to become wealthy and a millionaire. this greedy mindset is the number one problem with the world and why younger generations are being neglected.
TRUE. Community is what we are truly missing.
Issue is, that being a millionaire is the only way to live a comfortable life. It seems the cost of living has adjusted to reflect millionaires lifestyle only. If you’re an average Joe working a normal job you’re pretty much living in abstract poverty. It wasn’t like this 50 years ago
@@VinsLeMans i'd rather be in poverty than particpate in a rat race to make more money than the next guy, the only way people become wealthy is if people below them get taken advantage of. directly or indirectly. its usually indirectly
Well how you do you subtract wealth as a value system from an culture that was formed based on wealth and exploitation?
@@florentin4061
Exactly. The USA is an imperial astro-turf casino country.
I’m gen x and I felt screwed over by society 20 years ago.
no. gen x had a chance to buy a cheap house in the late 2000s. most millennials never had a chance to buy a cheap house
Cry me a river honey I had to bust my a$$ at a T3 law school in the middle of nowhere simply to avoid taking out a quarter million in debt. Still a new homeowner by 32.
@@BaroloBartolo where do u live, out of curiosity? by the middle of nowhere, you mean like flyover country?
Well we learned early on that we can only rely on ourselves
I am soooo happy that there are more and more people out there being honest
Ai jobloss is the only thing I worry about anymore. Anyone else feel the same?
Great perspective that includes personal story points
Great speech, great thoughts! Thanks for talking for young people's future
Amazing guest. I wish I had half as many keen insights and 1/10 of his communication skills
My husband just became a journeyman electrician and makes over 150k a year. He got an accounting degree and left that field after only a couple months. Trades is important and good skill to have.
Scott's an academic and he paid $14M in income tax? Wow.
He does media appearances, sells books, and makes a ton not related to his actual job.
I knew GenZrs were checked out and gone when i saw the videos that surfaced online after the travis scott concert... Seeing kids singing and dancing around scores of dead bodies(their own peers), and seeing they are that desensitized to death, without even being in a war zone, is horrifying. Im legitimately fearful of what America is going to be like in the near future.
🙏💒 pray for GenZ
Your prayers are worthless. God won’t save us.
@@greggoat6570 Unless you are a Believer in the Gospel, believe in their heart that Jesus is God's son and paid the price for each person's sin, and accept that He is Savior and King. Surrender to him and he will answer you.
And travis Scott got away with it completely cos money. And people just kept stanning him anyway
*'Stan'ing@@frarfarf
The conversation is always more complicated than the sound bites. It had occurred to me some time ago that most of what we do as a society is make sure we keep the status quo. We can call it social norms or traditions but what it really does is allow the haves to continue at the expense of the have nots. But unfortunately we have reached the point of demenising return. We need to refill the coffers but because of greed my generation doesn't seem to want to do anything to help. The ultimate Me generation is convinced that they can take it with them when they die.
The US should ban corporations owning single family homes, take away tax breaks on individuals owning 2nd and 3rd homes and ban foreign nationals from owning property in the US. If we did this the prices of houses would come down fast!
Wow. I'm sending this by link to my kids. Amazing 👏.
Would absolutely love to see relevant analysis like these in my country India.
It is in the interest of the powers that be to keep the people blind
Awesome. Thank you.
Wow. You have made many excellent points !
He's on to something but he really didn't answer any of the question of : Why should we push more people into colleges if there is a surplus ''education'' crisis? That question went straight over Galloway's head. The bottom line is : half the problem is not that people don't have access to college, it's that too many are afforded to think they do without reasonable payoff for degrees that are worth nothing and are only ideological indoctrination. Those useless degrees are of course the most profitable for universities because there is no fundamental requirement and investment required into selling them, only having someone brain dead enough to teach it. The other half of the college problem is that for them to have such massive endowments, they need to surcharge students by massive margins, otherwise there is no money to pour into it.
Here's a suggestion : An institution receiving taxpayer's money should not be able to be operated like a for profit hedge fund selling classes and taxpayer's money needs to come with very strict strings attached related to pricing and the usefulness of degrees. Student loans should also be directly tied to the ability of the borrower to repay using their degree, it is insanity that anyone could take on any amount of debt for any type of degree.
Here's another suggestion : Massively fund trade schools with the same principles. There needs to be much more thought put into the priorities of what type of education actually matters and pushing people into those avenues instead of selling some liberal arts degrees.
This is only covering education though. Half the other problems Galloway mentionned have nothing to do with education and he definitely has a point about the generational wealth transfer from young to old. Society has become a ponzi scheme for the old.
Something to add onto the young people starting behind because of student loan debt. It also happens with healthcare because having a baby is so expensive and medical debt is another thing that is exacerbating the problem for young people just trying to do normal life events (going to college, having a family, buying a house)
Pretty hard to do if one never saves a nickel.
Last minutes are pure gold and real talk!
This is wonderful
yeah this feels right.. it is scary, I see my generation getting discouraged .. but getting resentful distracts me while I need to focus on the opportunities I still do have. I don't know that the changes he suggests would ever happen! what if no one is coming to the rescue
He's right. The market gains were responsible for 80% of the inflation. Inflation is created by wealth inequality. Only those who have excess income to buy assets create asset inflation.
....printing out government stimulus..?
I love listening to you speak, sir. Thank you for your voice on this subject.
Tnx
Sorry, the LAST thing we need is 10,000 more Harvard grads. I need a plumber. An electrician. An HVAC guy. An auto tech.
For real. Harvard grads be detached from reality, in favor of theory.
Beginning at 13:06 he talks about that
You want more HVAC guys pay them more money. No one wants to break their backs for pennies. That’s why there’s a dip.
Yeah, he lost me when he characterized "all this BS anger over DEI is an incredible misdirect." (4:20)
@@imanigordon6803 Trades pay too little and tear up the body.
Refreshing
Its just insane how much this issue is in India and I think its global as well
I recently discovered Scott and have really been enjoying hearing what he has to say
BRAVO!
This interviewer is enraging
How? He asks legitimate questions.
Keep preaching the truth Scott! Bravo
Scott. You might be my favourite person on the internet.
Galloway blusters a lot about vocational training and disaffected males but despite being a business school prof doesn't address why markets haven't corrected the imbalances he has memorized for this recitation. That's weird.
Because markets in their purest form are a flawed construct. Show me a country that successfully went full libertarian, free of regulation where self-correction dictates everything, and I'll show you a country where people are happily living, complaint-free under a communist regime.
No market are truly free of regulations since the 1840. And I don't think we want to go back to that era.
Why does being a business school professor mean he would think an unregulated market would solve all things? That is a conservative talking point, not something most economists believe.
He literally calls outs his industry (postsecondary education) as a cartel rather than a market. Its fight against market forces is exactly what he's criticizing.
If you've ever met a grad student stuck earning poverty wages in a teaching role to prop up this new army of administrators, you'd understand
Please run for President! I've never heard so much truth spoken in one interview.
I love this channel how did I just find it.
As a millennial I’ve found the most peace by finding purpose and happiness in life. My friends who have chased money and success, it’s very draining and you may hate yourself when you don’t succeed, when it’s mostly a problem with the world, not you. I don’t make the most money but I help people everyday, I don’t work under crazy politics, I help my community and I’m part of the change I want to see in the world. My husband has a similar job as well. We don’t sit at desks building technology , making tons of money by harming the world. I rather be broke and make a positive impact , than make a bunch of money doing something I disagree with. I don’t have a house, my future is uncertain, but feeling purpose and love for my job everyday heals my soul and makes it much easier to navigate this collapsing society we live in.