Intro
In this episode of the “Pivot” podcast, hosts Kara Swisher and Scott Galloway discuss various current events, including Goldman Sachs’ earnings troubles, the Web Summit conference controversy, and Mark Andreessen’s Techno Optimus Manifesto. They also touch on topics like social media, leadership, and the conflict in the Middle East. Join them as they provide insights and analysis on these important issues.
Main Takeaways
Health and Sleep Habits
- Care Swisher and Scott Galloway discuss their health and sleep habits.
- Coughs tend to linger for months.
- Scott Galloway is a night person who wakes up frequently to pee.
Political News and Leadership
- The ongoing crisis in the Middle East and Goldman Sachs’ earnings woes are among the current events discussed.
- Representative Jim Jordan failed to win a second vote for speakership, losing Republican votes on the second round.
- Members of both parties are looking to give interim speaker Patrick McHenry the authority to run the House until a speaker can be chosen.
- Jim Jordan’s career is built on seniority and saying incendiary extremist things that his base loves, according to the speakers.
- Several wrestlers at Ohio State have come forward again talking about his behavior, which is also reprehensible.
- Making Jim Jordan speaker will decrease the likelihood of getting anything done and is a bad look for the Republicans and leadership in general.
Web Summit Conference Controversy
- Tech leaders are dropping out of the Web Summit conference in Lisbon after co-founder Patty Cosgrave accused Israel of committing war crimes.
- Cosgrave posted on Twitter that “war crimes are war crimes, even when they’re committed by allies”.
- Some people are pulling out of the Web Summit conference due to Cosgrave’s comments, while others are taking a more thoughtful approach and seeking advice from experts such as Jonathan Rosenblatt from the Anti-Defamation League and Paul Sagan.
- Universities, corporations, and events like Web Summit are great ways to bring people from different backgrounds and viewpoints together to celebrate their shared interests.
- There is a concern that if people withdraw from these events due to political disagreements, it could lead to more segregation and less understanding.
Goldman Sachs’ Earnings Troubles
- Goldman Sachs reports a 33% decline in profit for Q3, tied to a failed consumer lending experiment and drop in revenue in the asset and wealth management division.
- Rising interest rates and conflicts in Ukraine and Israel pose challenges for future growth, according to CEO David Solomon.
- Investment banking revenue is lumpy and not as steady as wealth management, which is driving more shareholder value.
- Goldman Sachs offloads lending platform GreenSky and may cut partnership with Apple, while JP Morgan and Wells Fargo perform well in consumer divisions.
- DJing at events becomes a distraction for CEO David Solomon, but being CEO of Goldman Sachs comes with many perks and responsibilities.
X’s Subscription Plan and Twitter’s Challenges
- X’s payment plan is going into effect for some users.
- ServiceNow is using AI to revolutionize businesses.
- Contentful offers an intelligent solution for managing and creating content.
- Twitter is testing a subscription plan to fight bots without blocking real users.
- Many users are hesitant to pay for X because they don’t want to give their credit card information to the company.
- Elon Musk announced that X is moving to an entirely subscription-based service, but it’s unclear if this plan was discussed with the CEO.
- The conflict in Israel has highlighted the flaw in social media and how it amplifies our worst instincts.
- Social media companies are not taking responsibility for their platforms and are not effective in handling crises.
Mark Andreessen’s Techno Optimus Manifesto
- Mark Andreessen’s recent Techno Optimus Manifesto has been met with criticism for its lack of introspection on the role of technology in society and its potential negative effects.
- Some tech entrepreneurs lack appreciation for the blessings they received from building their businesses in America.
- Venture capitalists with financial stakes in cryptocurrency companies were rooting for a decline in the banking system to make money from Bitcoin and crypto.
- Venture capital firms transfer wealth from middle-class investors to the .1% and leverage their brand and CNBC to attract investors.
- Microsoft CEO’s annual report talks about the company’s commitment to using technology to solve problems, not create new ones.
- The hosts invite Mark and Jason to talk on the show.
Summary
Health and Sleep Habits
Hosts Kara Swisher and Scott Galloway share their personal health and sleep habits, discussing issues like lingering coughs and frequent bathroom trips during the night.
Political News and Leadership
The hosts delve into the current political landscape, highlighting Representative Jim Jordan’s failed bid for speakership and the implications of his potential leadership role. They also discuss the ongoing crisis in the Middle East and its impact on leadership and decision-making.
Web Summit Conference Controversy
The controversy surrounding the Web Summit conference unfolds as tech leaders drop out due to co-founder Patty Cosgrave’s accusations of war crimes against Israel. The hosts explore the potential consequences of political disagreements on events that aim to bring diverse perspectives together.
Goldman Sachs’ Earnings Troubles
The hosts analyze Goldman Sachs’ decline in profit, attributing it to a failed consumer lending experiment and challenges in the asset and wealth management division. They discuss the impact of rising interest rates and conflicts in Ukraine and Israel on the company’s future growth.
X’s Subscription Plan and Twitter’s Challenges
The hosts explore X’s payment plan and its potential impact on users. They also discuss ServiceNow’s use of AI to revolutionize businesses and Contentful’s intelligent content management solution. Additionally, they delve into Twitter’s challenges, including the testing of a subscription plan and the negative effects of social media on the conflict in Israel.
Mark Andreessen’s Techno Optimus Manifesto
Mark Andreessen’s manifesto receives criticism for its lack of introspection on the role of technology in society. The hosts discuss the need for tech entrepreneurs to appreciate the opportunities they have received and the potential negative consequences of their actions. They also touch on the role of venture capitalists and Microsoft’s commitment to responsible technology use.
Conclusion
This episode of “Pivot” covers a wide range of topics, from health and sleep habits to political news, business challenges, and the impact of technology. The hosts provide valuable insights and analysis, encouraging listeners to consider the implications of these issues in their own lives and the world at large.
