Intro
In this episode of the Pivot podcast, hosts Kara Swisher and Scott Galloway discuss a range of topics, including the electrification of the auto industry, Tucker Carlson’s new media company, the challenges facing Twitter’s Threads, Bob Iger’s rough ride as CEO of Disney, the writers’ strike in the entertainment industry, the impact of climate change, the future of the space industry, Elon Musk’s goals, and a conservative couple causing turmoil in a Virginia community. They also touch on antitrust issues, the AI-driven beauty company Audity, and upcoming topics on the show.
Main Takeaways
Electrifying the Auto Industry
- The Cybertruck, Rivian, and F-150 are all important for electrifying the auto industry and reducing carbon emissions from automobiles.
- America’s fascination with cars has morphed into a fascination with trucks, making electric trucks necessary for reducing carbon emissions.
- The Cybertruck is differentiated but looks unusual and ridiculous to some, while the Rivian is a handsome car.
Tucker Carlson’s New Media Company
- Tucker Carlson is creating a new media company with former White House advisor Neil Patel, using Twitter as the backbone and a subscription-based model for longer-form videos.
- The company faces challenges, including a lawsuit from a giant organization that could shut it down and difficulty raising capital.
- The upside here just doesn’t warrant the risk.
- There’s risk when personalities transfer mediums.
- Tucker Carlson has to make interesting stuff and attract interesting people.
- A subscription model would have been a better choice than Twitter.
Challenges for Twitter’s Threads
- The honeymoon phase for Threads is over, they need to continue to innovate.
- Twitter’s top comments are dominated by blue check people, but the quality of their content isn’t compelling.
- Threads has a higher engagement rate compared to Twitter’s old engagement rate.
- Twitter still has some great people on it, but the ratio of thoughtful comments is much lower than on Threads.
- Despite weird ads and bots, Twitter is still raw and authentic, and there’s something pleasurable about it.
Bob Iger’s Rough Ride at Disney
- Bob Iger’s first year back at Disney as CEO has been challenging, with the company facing problems with talent and executives.
- Disney’s stock is down 4% since Bob Iger’s return, and Pixar’s latest movie had a disappointing domestic opening.
- Disney’s direct-to-consumer streaming services have lost $10 billion since 2019.
- Bob Iger’s comments about the writers’ strike were criticized by President Fran Drescher, who called them “repugnant.”
- The real issue in the entertainment industry is income inequality within sectors.
- Writers should focus on partnering with studios to protect their digital likeness and intellectual property.
- Actors and writers no longer receive residuals, which is why upfront payments have grown for them.
- Actors are demanding 2% of revenue generated by streamers with an outside audit for transparency.
- The strike is a gift to Netflix, whose majority of production is still humming along because of international and non-union workers, and to TikTok, which doesn’t have these problems and is attracting younger viewers who are finding new habits.
- Actors and writers joining together in solidarity is important, as it makes their hand stronger in negotiations.
- Unions should present a unified joint force across the entire industry and file suit against companies that crawl their content, such as Microsoft and OpenAI.
- Negotiations should focus on compensating studios and writers for their content, especially as the industry moves towards streaming and AI.
Climate Change and its Effects
- Earth is experiencing record-breaking hot days due to climate change.
- Climate change intensifies disasters like wildfires, floods, and storms.
- Architects are working on building disaster-proof houses to tackle the effects of climate change.
- The US directed $369 billion to addressing climate change, but it’s not enough.
- There is a need for younger people in office who feel the same sense of urgency towards climate change as they have a longer-term outlook.
- John Kerry is the US climate czar and has been in climate change talks with China.
- Lack of respect for science and institutions is hindering climate change action.
- Global cooperation is necessary to combat climate change.
- The transition from fossil fuels to renewables will be expensive.
- Climate change will be the biggest economic story of the next decade.
The Future of the Space Industry
- The book When the Heavens Went On Sale explores the Wild West of space beyond the current space race between Elon Musk, Jeff Bezos, and Richard Branson.
- The real action in space is the computing shell in low Earth orbit, full of thousands of satellites that have been built by hundreds of rocket and satellite startups around the world.
- Planet Labs revolutionized satellites by making disposable, shoebox-sized imaging satellites that take a photo of every spot on Earth every day.
- Rocket Lab, led by CEO Peter Beck from New Zealand, is the only commercial rocket player besides SpaceX that flies to space all the time.
- These companies use consumer electronics instead of old, expensive space-grade electronics, making it the first time Moore’s Law has been brought into space.
- Peter Beck, a self-taught rocket engineer, represents a huge change in the space industry.
- Companies like Firefly and Astra are trying to make the cheapest rocket ever.
- Space industry can be divided into space tourism, space exploration, and space hauling.
- The satellite industry is rapidly growing, with 10,000 satellites in low earth orbit in the last three years.
- Space tourism is still expensive and limited to a small clientele.
- Space tourism is supply and demand constrained and is an expensive business model.
- Virgin Galactic is in a horrible position due to raising too much money over the years.
- SpaceX launch is still $60 million for the big rockets.
- Rocket launches are becoming more affordable for scientists and researchers.
- The US is now the most exciting commercial space player in the world, followed by China and New Zealand.
- SpaceX is predicted to be worth more than Tesla and the Falcon Heavy rocket is seen as this generation’s iPhone that will create billions in value.
- Before SpaceX, countries could only launch rockets once a month, but SpaceX now launches almost every two days and has the longest streak of successful launches ever.
- They are the world’s largest satellite maker and are dominating the space industry.
- During the war in Ukraine, Starlink was used to provide images and communication for the military and government, making it a powerful tool in national security.
- The power of this technology means that there will be more competitors in the space industry in the future.
- The space industry is set to have more commercial players in the future, leading to potential clashes between countries.
- Investing in the parts and infrastructure for space vehicles is a smart move.
- Companies like SpaceX and Rocket Lab are now making both rockets and satellites, leading to a maturing industry.
- Data-focused companies are likely to make the most money in the industry.
- The lack of laws regarding space trash and satellite usage could lead to a “Wild West” situation in space.
- SpaceX and Nure Link are two companies that will be remembered for a long time.
- Nure Link is developing a brain implant that could cure paralysis and help people with strokes.
- Elon Musk’s behavior on Twitter is toxic and different from his behavior in private.
- Musk’s potential may not be realized due to his side show and circus on Twitter.
- Musk’s ultimate goal is to do something on Mars.
- It’s important to think about all the things that are going on in space.
- Climate change is a reason why we need to be a multi-planet species.
Other Topics
- OFX offers a fast, reliable, and secure solution for transferring money internationally.
- A conservative couple is terrorizing a community in Virginia, causing lawsuits and a mess.
- Lena Con’s more aggressive antitrust stance is having the desired effect.
- Audity is an Israeli beauty company that leverages technology in the industry.
- Audity’s direct-to-consumer approach uses spectral photography to match the perfect foundation based on skin type.
- The company is set to IPO and has a lot of appetite for new shares in the secondary market.
- The biggest winners in the AI industry will be a small number of tech companies and consumer companies that leverage AI, like Audity.
- Audity is expanding into an acne brand that uses AI to analyze millions of images and create personalized treatment plans.
- Listeners can submit questions about business and tech at nymag.com/pivot or by calling 85551 pivot.
Summary
Electrifying the Auto Industry
The hosts discuss the importance of electric trucks, such as the Cybertruck, Rivian, and F-150, in reducing carbon emissions and the shift in America’s fascination from cars to trucks. They delve into the unconventional design of the Cybertruck and the appealing aesthetics of the Rivian.
Tucker Carlson’s New Media Company
The hosts analyze Tucker Carlson’s new media company, its challenges, and the potential risks involved. They discuss the suitability of a subscription model compared to Twitter as the backbone and highlight the importance of attracting interesting people and creating compelling content.
Challenges for Twitter’s Threads
The hosts explore the challenges faced by Twitter’s Threads, including the dominance of blue check people in top comments and the lower ratio of thoughtful comments compared to the Threads platform. They acknowledge the raw and authentic nature of Twitter despite its issues.
Bob Iger’s Rough Ride at Disney
The hosts delve into the challenges faced by Bob Iger as CEO of Disney, including talent and executive problems, stock performance, and disappointing movie openings. They discuss the financial struggles of Disney’s direct-to-consumer streaming services and the criticism Bob Iger faced from President Fran Drescher regarding the writers’ strike.
The Impact of Climate Change
The hosts emphasize the record-breaking hot days and the intensified disasters caused by climate change. They discuss the efforts of architects to build disaster-proof houses and the need for global cooperation in combating climate change. The hosts also highlight the economic implications of transitioning from fossil fuels to renewables.
The Future of the Space Industry
The hosts explore the evolving space industry, including the role of companies like SpaceX, Rocket Lab, and Planet Labs. They discuss the advancements in satellite technology, the potential of space tourism, and the need for regulations regarding space trash and satellite usage. The hosts also touch on Elon Musk’s goals and the importance of space exploration for addressing climate change.
Other Topics
The hosts briefly touch on topics such as OFX’s international money transfer solution, a conservative couple causing turmoil in a Virginia community, Lena Con’s antitrust stance, and the AI-driven beauty company Audity’s direct-to-consumer approach and expansion into an acne brand. They also mention the opportunity for listeners to submit questions about business and tech to the podcast.
Conclusion
In this episode of Pivot, Kara Swisher and Scott Galloway provide insightful analysis on a wide range of topics, including the electrification of the auto industry, media challenges faced by Tucker Carlson, the state of Twitter’s Threads, Bob Iger’s tenure at Disney, the writers’ strike in the entertainment industry, the impact of climate change, the future of the space industry, and more. They offer valuable perspectives and highlight the importance of addressing these issues in a rapidly changing world.
