Intro
In this episode of the “Pivot” podcast, host Scott Galloway sits down with Kai Ryssdal, the host and senior editor of Marketplace. They discuss the need for modern role models for masculinity, the rise of dangerous advocates for men, and Kai’s own experiences in the Navy and as a father. They also delve into topics such as the Cannes Creativity Festival, the wealth inequality gap, the current tax system, the future of media, and the state of the US economy. Join Scott and Kai as they provide valuable insights and thought-provoking discussions.
Main Takeaways
Modern Role Models for Masculinity
- Kai Rizdhal is a great role model for modern masculinity because he demonstrates strength, service, and success professionally, as a spouse and father.
- The left has failed to acknowledge the struggles of young men, which has led to the rise of dangerous advocates for men.
Kai Rizdhal’s Background and Navy Service
- Kai Rizdhal is the host and senior editor of Marketplace, and a role model for Scott Galloway.
- Kai served in the Navy for eight years, showing discipline and physical and mental strength.
- Serving in the Navy means working for something bigger than oneself and honoring sacrifices made by others.
- Lieutenant Ristall, a Navy veteran, is a role model for masculinity and calling out BS on both sides of the political spectrum.
The Cannes Creativity Festival and Media Industry
- The Cannes Creativity Festival has parties thrown by old and new media companies with different themes and tones.
- The hotel to cap in Cannes is a European elegance destination with great food and drink, but there is no Twitter beach this year due to unpaid bills.
- Twitter may have dealt the death blow to news by social media.
- Linear radio’s audience went down during COVID and it’s questionable if it will recover.
- The future of media is in podcasts, but there are too many to choose from.
Wealth Inequality and Tax System
- The number of global billionaires has increased fivefold over the past two decades, with over 2,500 billionaires worth over $12 trillion.
- Billionaire wealth in the US represents 18% of GDP, up from 15% five years ago.
- Inherited wealth accounts for 85% of France’s billionaire wealth, which is twice the global average, and some are big on dynasties there.
- The top performers are aggregating more and more wealth, which grows the economy but leaves many people behind.
- The current tax system favors money over sweat, with money being able to compound tax deferred while sweat gets taxed between 10 and 50 percent a year.
- Decreasing IRS funding is a transfer of wealth from the poor and middle class to the rich.
- President Biden proposed a billionaire minimum tax to require the wealthiest households to pay a minimum of 20% on all their income, including unrealized investment income.
- A progressive tax system is needed to address the inequality between those who make their money from money and those who make their money from sweat.
The US Economy and Future Outlook
- Inflation over the past 12 months has come down substantially, but the Federal Reserve plans to keep rates high until inflation reaches 2%.
- Despite concerns about a recession, the labor market is strong with 339,000 jobs added last month and growth still at 1.3%.
- Asset values may come down, but the real economy remains robust and consumers are still spending money.
- The pandemic has changed everything, with remote work becoming the new baseline.
- The market story that has not received enough attention is the uncertainty surrounding AI.
- Technology is the future and the fortunes of tech going forward are promising.
- The supply chain snafus and transportation are areas where there’s a boom to be had.
- Humans are not ready for what AI can do and are not sophisticated enough critical thinkers.
Importance of Trust, Civility, and Family
- Lack of trust and civility in the US can be addressed through mandatory national service.
- The reverence for the truth is crucial, and data and science are the closest things we have to the truth.
- Mandatory national service can be non-military and still be effective.
- Americans will never have greater allies than other Americans.
- Being a dad is a lot of work, but family is everything.
- Parents intentionally stayed out of Speaker 2’s life, resulting in a lack of strong family bond.
- Speaker 2’s wife came from a close-knit family and taught him the importance of putting in the work to maintain family relationships.
- Speaker 2 modeled himself after his dad’s physical presence but not emotional connection.
- Speaker 2’s wife is the binding force in their family due to her upbringing and efforts to maintain close relationships.
Summary
Role Models for Modern Masculinity and Wealth Inequality
Kai Rizdhal, the host of Marketplace, is considered a role model for modern masculinity due to his demonstration of strength, service, and success in various aspects of life. The left’s failure to acknowledge the struggles of young men has led to the rise of dangerous advocates for men. The increasing wealth inequality, with billionaires amassing significant fortunes, highlights the need for a progressive tax system to address the disparity between those who make money from money and those who make money from hard work.
The Media Industry and the Future of Work
The Cannes Creativity Festival serves as a platform for old and new media companies to showcase their themes and tones. However, social media platforms like Twitter have posed challenges to traditional news outlets. Linear radio has experienced a decline in audience, and the future of media seems to be in podcasts, although the abundance of choices poses a challenge for listeners. The COVID-19 pandemic has transformed the work landscape, with remote work becoming the new norm. The rise of AI technology brings both opportunities and uncertainties, as humans may not be fully prepared for the capabilities of AI.
The US Economy and National Service
The US economy has shown signs of strength, with job growth and consumer spending remaining steady. However, inflation and the impact of AI on various industries are areas of concern. To address the lack of trust and civility in the country, some propose mandatory national service, which can take non-military forms. Trust, data, and science are essential elements in fostering a better society. Family plays a crucial role in individuals’ lives, and the efforts to maintain strong family bonds are vital for personal growth and well-being.
Conclusion
In this episode, Scott Galloway and Kai Ryssdal cover a wide range of topics, including modern role models for masculinity, wealth inequality, the media industry, the US economy, and the importance of trust and family. They provide valuable insights and thought-provoking discussions that shed light on the challenges and opportunities facing society today. Join them as they navigate through these complex issues and offer their perspectives on creating a better future.
