00:46:45 · Scott Galloway
[00:46:45] S0: There's 90% overlap. I wanna have Howard Lutnick in there. Like, what... Let me understand how your son's got this a billion dollars in investment. And can we have can we have you just read this section from the emoluments clause and and help us understand how you tried to thread the needle between stated law that your family is not supposed to be benefiting from trading off geopolitical power. I am all for it. That needs to be overwhelmed by thoughtful policies around health care, around reducing tariffs. I think immediately, a presidential candidate should do a couple things. One, announce a framework for a democracy free trade zone. We need to go the other way on tariffs. It will hurt some American industry, but say consumers need to benefit from a local economy. Shareholders need to benefit from our comparative advantage around higher margin IP driven products. And we need to send a signal to democracies and our former allies and trading partners that we're serious about lifting everyone's prosperity, and we're gonna have the mother of all free trading zones, and we're gonna take tariffs absolutely the other way. I think another thing we should do immediately is outline an enormous bill of support in terms of weapons, in terms of capital, in terms of intelligence for Ukraine. Because even if those things don't pass, even if they're vetoed, they set the agenda for the next twenty four months. But to go on... If we're just overwhelmed with another what I'll call... If we go on a retribution slash impeachment nostalgia tour against Trump, I I think we lose the swing voters. I don't think the swing voters... I think the swing voters are looking for... I do think they're looking for accountability, but more than anything, Ed, I think they're looking for affordability and a way forward for their families. I don't... They're trying to figure out how they're gonna pay for their health care, how they take their kids to Disneyland again, how they afford an education, how they find housing that's reasonable, how they get their kid out of the basement. And, yeah, they want wanna understand. They want to understand how the SEC has become so neutered. They wanna see the IRS funded again. They want big tech held accountable. Sure. They they want all of those things. But I think that gets... I don't think that can be the banner we flag... We fly under.
00:49:10 · Scott Galloway, Ed Elson
And an obsession with putting the president in prison [00:49:13] S3: If he committed prison worthy crimes. That's what... I mean, you shouldn't be putting the president in prison just because you don't like him. You shouldn't be putting [00:49:20] S0: We're not gonna come to an agreement on this. I'm more a rail politic. I think that's a bit of a side issue. I worry that creates an ultimate circus and distraction, and that's not what American families are focused on right now, but around what I'll call accountability and restoring the SEC, restoring laws, figuring out what... Even the crypto market, the the hardcore serious crypto people want some accountability here. They wanna go, okay. What the fuck was with this meme coin? Who are these wallets buying it the day before? Who got... Are so many interesting hearings that are gonna happen for wonks like you and me. The majority of Americans are just gonna look at gas prices and where the rent is.
00:49:20 · Scott Galloway, Ed Elson
[00:49:20] S0: We're not gonna come to an agreement on this. I'm more a rail politic. I think that's a bit of a side issue. I worry that creates an ultimate circus and distraction, and that's not what American families are focused on right now, but around what I'll call accountability and restoring the SEC, restoring laws, figuring out what... Even the crypto market, the the hardcore serious crypto people want some accountability here. They wanna go, okay. What the fuck was with this meme coin? Who are these wallets buying it the day before? Who got... Are so many interesting hearings that are gonna happen for wonks like you and me. The majority of Americans are just gonna look at gas prices and where the rent is. [00:49:59] S3: I agree with you that this can't be your whole thing as screw Trump. You need to have an agenda, and you need to fix the affordability problem. You need to address the economic issues, and you need to be energetic and bold about it. And I think you can also be that way about prosecuting justice as well. And that's my expectation of every Democrat. You can do both. You can prosecute crimes, and you can also work for the American people. But I don't think that that Americans see this as a nothing burger. I think this was a genuine indictment of our justice system. And to just not deal with it or ignore it or just say, okay. It's fine. We'll just ignore that period of history, basically tells people in the future that there are people above the law.
00:49:59 · Ed Elson, Scott Galloway
[00:49:59] S3: I agree with you that this can't be your whole thing as screw Trump. You need to have an agenda, and you need to fix the affordability problem. You need to address the economic issues, and you need to be energetic and bold about it. And I think you can also be that way about prosecuting justice as well. And that's my expectation of every Democrat. You can do both. You can prosecute crimes, and you can also work for the American people. But I don't think that that Americans see this as a nothing burger. I think this was a genuine indictment of our justice system. And to just not deal with it or ignore it or just say, okay. It's fine. We'll just ignore that period of history, basically tells people in the future that there are people above the law. [00:50:45] S0: We're not gonna agree on this, Ed. I I appreciate your idealism. No one is above the law. I love the tagline. In my view, we're not gonna put a sitting president in prison, and any effort to do that or, in my opinion, is gonna end up harming Democrats. And so let's just agree to disagree there. [00:51:05] S3: Okay.
00:51:05 · Ed Elson, Scott Galloway
[00:51:05] S3: Okay. [00:51:06] S0: I do think we should have a ton of congressional hearings. I think there are a lot of people who have some some explaining to do. And I think you're right. We need to restore a sense of rule of law here and accountability. We should immediately have an ethics law passed or at least proposed. Absolutely no stock trading. You can't serve in a private company or purchase stocks for two years post leaving Congress. Probably the most exciting thing that happened yesterday, no one's talking about, and it's the following. And I'm gonna get the name wrong. The national ballot... The nationwide ballot initiative, I forget what it's... I forget the exact name. I'll get it, but it's the following. And no one's talking about it. And in my opinion, it's probably the most significant thing that happened yesterday other than a giant repudiation of Trump's policies, and it's the following. The electoral college might have died yesterday. [00:52:02] S3: I didn't know Well, what
00:52:05 · Scott Galloway
[00:52:05] S0: okay. Your vote... When you live in California, your vote on federal elections really doesn't matter. When you live in Florida, your vote really... I mean, it's just going... You know, you you... New York's going blue. So there's essentially... The the key elections around president who sets the tone for the world is... Has come down to a small number of counties and a small number of states. That is not... That is a failure of democracy. What this ballot initiative or this... There has been an initiative that has been passed in, I think, 22 states, and, essentially, it says that if California will allocate all of its electoral votes to whoever wins the popular vote nationally, they will allocate all of their all of their votes, all of their electoral votes to whoever wins the popular vote nationally. Right? They said, look. It's important that we we want something that represents the will of all Americans. Everyone's vote... If you're in a southern state, there are some states where 30% of the population is black, and they have almost no representation. In California, 40 to 45% of Californians are Republicans. They have almost no representation. So what this initiative said is that, okay. We're just gonna go with the popular vote and allocate our electoral votes to whoever won the popular vote. The only way that passes is if it gets to a majority, I believe, of the, electoral college, which is two seventy. Enough states have passed it such that it's at two twenty right now, so it needs, like, another 40 or 50 to become law. Yesterday, enough states went all blue, the governor, the senators, the state legislature, such that if those states pass this initiative, it goes above two seventy and the electoral college is dead, and we go to a system of national polling and voting. Whoever wins the popular vote nationally becomes president. That is actually now a a a a viable possibility that that could happen very soon. That is a... That is an earthquake in electoral politics. It it would reshape where money is spent. It would reshape how campaigns are run. All of a sudden, California and New York aren't gonna get visits from the president in floor... I mean, it it... That is gonna be an earthquake. And, the fact that all of a sudden states that were in the way of that because they don't like having an elect...