Scott’s Greatest Legacy and Why Your 20s Are Overrated

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Welcome to Office Hours of Propgy. This is the part of the show where we answer your questions about business, big tech, entrepreneurship, and whatever else is on your mind.

If you'd like to submit a question for next time, you can send a voice recording to officehoursofproptimedia.com.

Again, that's officehoursofproptimedia.com.

Or post your question on the Scott Galloway subreddit and we just might feature it in our next episode.

Question number one.

Our first question comes from ScoobahoodDugFisher on Threads, interesting name.

They say, hey, Propgy is resistant and unsubscribe the most influential thing you've done.

If not, what do you feel is or what do you hope will be your biggest impact on the planet?

That's a generous question.

No, it isn't. I wouldn't say it's not even in the top three.

The impact of resistant unsubscribe since January 30th over 21 million views across social media about...

We'll probably cross about two million site visits, unique visitors to the site today, to resist an unsubscribe.

So, you know, the state of Maine, I don't know how many people Maine has, but a state with two million people have showed up to resist an unsubscribe.

The thing I'm most proud of on the visits is that we haven't spent a single cent to drive that traffic.

I've been all over AI trying to figure out what I would need to spend from a standing start.

I was trying to get two million people to show up to an e-commerce site.

And it's somewhere between two and seven million, depending on the efficiency.

Anyways, we've had thousands of new subscribers and immersing them out.

Thousands of screenshots shared by you, our listeners via Instagram, email, and our subreddit.

Since March 1, we're seeing about, I don't know, some of them are between 10 and 15,000 site visits per day.

I need to get that back up. It was at 60 to 80.

I like the idea of a stadium showing up to the site every day.

So, what I'm trying to do is we did a live event last night in Minneapolis with Governor Walls.

It was called resistant unsubscribe.

It sold out 1,000 people to Pentegris Theater in 48 hours.

That city is so unified right now.

If you want to have a great vacation or you want to do an event, I would suggest going to Minneapolis right now.

That city's just on fire. People are feeling so, there's such a sense of community there right now.

We raised $138,000 in the immigrant law center of Minneapolis through ticket sales and matching.

But anyways, it was wonderful.

And trying to communicate to people that I like the idea.

The most great thing about the idea is that it's the easiest way to have a big impact with a minimal amount of consumer disruption.

And that is if right now you go to resistant unsubscribe.com and unsubscribe from OpenAI.

And you post it to your social media screen shot of your unsubscription confirmation from OpenAI.

Then effectively, if you get three or four other people, inspire three or four other people to unsubscribe.

That's about $240 each times for $960. It's called a thousand bucks.

It's trading at 40 times revenue.

You can take $40,000 out of the market cap of OpenAI.

And say, guys, when you're the largest owner of the Trump campaign, when you're enabling ICE, there is a downside.

There is a downside.

And we have a calculator where you can calculate your impact based on who you're unsubscribing from and the impact or the footprint of your social media following.

And we're trying to figure out just a way to make it easy or seamless for people to do this and create two objectives.

Send a signal to consumers that their economic spending is a more powerful weapon than they imagined.

And to create the other side of the incentive coin, if you will, for CEOs.

Anyways, enough of that.

The biggest impact I've had on a cultural level hands down.

It's five years ago, six years ago.

I read a story about a young man, a sophomore at Oklahoma State, named Alex Kerns, who got errant emails from Robin Hood.

Or as I like to refer him in Daesh's Fox, saying that he owed $60,000 because it was trading options without his family's knowledge.

Very distraught.

Email dozens of times to the night couldn't get a response back and decided to take his own life.

And I saw a picture of the kid.

And when you're at that, occasionally you see a picture of a kid, a fallen service,

a service man or a kid who takes his own life.

And you can't help it.

But you see your own son.

And it really, it's just quite funny.

It just rattled the shit out of me.

So I reached out to the Kerns family to express my sympathies and actually had a conversation with Alex's uncle.

And started doing a deep dive around young men.

And it just led to a lot of recognition or just data.

I just did absolutely stunned me.

I'm going to a morgue and there's five people who died by suicide form men.

One and three men under the age of 25 was living at home.

Only one and three men under the age of 30 is in a relationship.

42% of men, 18 to 24, have never asked a woman out in person.

One and five men under the age of 30 is still living at home.

One and seven men are called needs.

And that is they aren't even trying.

They're not in education.

They're not in employment.

They're not in training.

They're literally doing nothing.

Levels of obesity, depression, anxiety.

Men age 20 to 30 are spending less time outdoors and prison inmates.

They're just becoming, we're just producing, I think, through a combination of economics, social movements.

We're kind of destroying the cultural and economic standing in middle class men.

And also they're up against this indomitable foe called big tech,

which every day is trying to figure out millions of ways to get them to spend one less second

with the most important thing in life, the relationships and more time on a screen.

And so I started talking about struggling young men.

And I like waiting in dangerous waters.

I like going into topics that I know I get pushed back on.

Because if you're not getting critical feedback, you're not saying anything.

And I like, again, waiting in dangerous waters.

I think it's important.

And I'm blessed with economic security and people love me unconditionally.

So you have the lecture speaking your mind.

So I think culturally or the things I'm I'm most proud of is raising awareness around the struggles of young men.

And establishing a lot of kind of what I'll call pair social relationships with single mothers who are looking for.

I don't know, not even guidance, but empathy or to feel seen about the struggles that their sons are facing.

And then on professional level, the thing I'm most proud of is that I'd like to think I've created a lot of economic security for wonderful young people in their family.

I have started and sold several companies and I typically don't own more than 30 or 40% of the company when I sell it.

And I think it's it's not it's not having money that's great, which it is.

That's great, but what's really wonderful is making it and what's amazing is making it with other people.

And so I'm really proud I've gone through I start small companies.

I've never I don't have the skills to build a big company, but I built small companies and took them to exit.

And I think somewhere between 27 and 37 people become millionaires on it on a single day because when we sold those companies, I'm really proud of that.

That's the thing I'm most proud of is creating economic security for myself.

I put myself I'm number one. I fixed my own oxygen mask before anyone else. I don't sound too virtuous, but it's worked out for a lot of people.

And I'm proud of that. And then I think at the end of my life, I think I'm going to be most proud of is I think I'm raising loving patriotic men.

But yeah, got a lot of boasting right now. Yeah, anyways, but generous question. Thanks very much.

Question number two comes from Instagram.

Caitlin Castro asks, how do I get over the fear of life after college?

I don't know. Get over it. How do you get over it? I don't know. Stay focused one day at a time, get a job, find roommates, get excited about making money.

It is an insecure kind of weird time. I got a job in investment banking right out of college. It was awful.

The people were awful. The work was awful. I hated the people they hated me.

And I thought, oh, this is life after college. Doesn't this keep in mind? I just want to prepare you. Your first job is going to suck.

Because you're the low person on the totem pole. So you're doing all the shit work. It's not drinking beer and going to, you know, brewing games.

Impacidine at the Rose Bowl, which was awesome, which was awesome. So it's a bit of like splash of cold water.

But it's nice to start making some money. It's nice to have your own place, both of which I was doing.

So it was a nice time. It was a nice time. It wasn't. I was miserable. Also, I couldn't get arrested.

I was dating like crazy in college. And then when you're 22, I moved to New York to join Morgan Stanley.

You can't get fucking arrested as a young man. You can't get into clubs. No one on no dormant says, hey, you 22 year old dude, come on in.

Different story for 22 year old women. Different story. And also for a 32 year old guy who is the type of douchebag will spend $1,100 on a bottle of vodka or something.

So I just couldn't all the women. This is going to like people's fair and fair. I didn't want to date 22 year old dudes.

They wanted to date 32 year old dudes that could take them to the same parts of the Hampton. So you literally no game, no dating, working 12 fucking hours a day for assholes.

And I missed my mom. I missed being alone or I didn't like being alone in New York. It was just, it wasn't a great time.

What I can tell you is it's where you start workshopping. You make some interesting friends. You start figuring out what you want to do with your life.

It's really nice to start making some money. It's nice to start zeroing in on what you want to do with your life.

So I think it's a nice, it's an interesting time of your life. And also coming out of college right now distinct to what everyone says about all the catastrophizing about AI.

So going to raise more fucking money, pretending they're more important than they are.

You know, it's there's a 22 year olds right now. Actually, I think have a lot of agency. They have a lot of opportunities to do things different things professionally.

They're just in some way through a lot of options when I was 22. Either when at UCLA either went to work for Arthur Anderson or got a job in finance or in brand management. That was a big one.

People go manage, you know, the swiffer, you know, or also the CIA regretted at UCLA. I thought that was really interesting. I tried to interview, but I didn't speak another language so they weren't interested in speaking to me.

Anyway, I think now entrepreneurship is a huge option. 150,000 people applied for small business applications in 2000. That's about half a million young people are much more bold, take much more risk. And also they've access to capital.

Money in 1997, 87 when I graduated from college. And now if you have an idea and you're a junior about to drop out from Harvard or Carnegie Mellon.

There's probably like six different meetups and angel, angels of Pittsburgh where they potentially will invest. You could raise a half a million or a million bucks.

So one of the things I'm not that sympathetic to is young people bitching about how hard it is. You actually have a decent amount of agency right now.

I think it's probably a pretty interesting time. And yeah, AI is kind of, I don't know, stilted or put hiring, hiring into stasis, but they're still hiring people.

So look at the bright side, look at the bright side. And also before you start work, when you graduate, just to ease into the work world, get a backpack and go to Europe for eight weeks, which is what I did with my buddies Lee Lotus and David Kingsdale.

It was just just such an incredible. That's something I'll remember the rest of my life. I budgeted myself $55 a day and lived like a king.

Didn't even stay in hostile stated two star hotels where they returned the air conditioning off between 1 a.m. and 4 a.m. and just had the best time.

Oh my God, that was such a wonderful trip. And anyways, so a lot to look forward to. It's time to be an adult.

If you're scared about going into the work world or leaving college, it means you might have a decent amount of anxiety and you may want to see someone about it or, or you just had such an amazing time in college, you're worried about leaving or you won't be as good.

And spoiler alert, it's not as good, but it's not as probably bad as you might think. And if it is bad, that's a learning because you realize this isn't the life I want and you pivot as I did to something else and find another way to make a living and something where you can think you can be.

Let me put it this way. I have an incredible life. I would think hard about switching places with you. If I could take my kids with me and my friends, I could probably leave a few of my friends behind.

But if I could take the majority of my relationships back with me and give up all my money, I probably think about it. So a lot of people want to be you. Thanks for the question.

We'll be right back after a quick break.

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Welcome back question number three.

Hello Professor Galway, this is Stephanie from Sacramento. My question is regarding asking rich people for money.

I'm on the board of a local community theater nonprofit and the board has been tasked this year with helping to boost our fundraising.

We've trained lots of types of fundraising events and have tried bringing on local businesses as sponsors, but it usually ends up being a lot of work for not very much payout.

And many of our local small businesses are just trying to stay live right now and can't dedicate funds towards sponsoring.

We found one possibly effective solution is to bring on donors, patrons who are willing to write one or two checks per year.

We've had two people related to members of our organization donate fairly size will amounts once, but I made a loss as to how to approach other affluent potential patrons.

Most of the foundations that I've researched have really specific criteria for what organizations they donate to and really lengthy and complicated applications and the same goes for most of the grants that we apply for.

So how do we find high net worth individuals who might be interested in supporting local community theater, but more importantly, how do we approach them to make the ask.

This whole asking for money thing is pretty uncomfortable for me, but I'm willing to do what I need to to support this amazing organization.

And honestly, I just want to use my time as efficiently as possible. Thank you.

Thanks for the question. I'm a Sherman expert here. I've been. I've asked for a lot of money, but I asked for money for my businesses. I've probably done.

Six or 800 meetings where I've asked people for money, but it's usually asking them to sponsor my latest crazy startup.

And it's hard and the reason why the most over compensated people relative to their talent and their IQ are the salespeople why because 98% of people aren't willing to ask people for money. That's what sales is.

You're calling them saying, hey, will you give me $100 a month and I'll give you a side license receipt for this software that will that will figure out what snacks you need in order them for you and asking for money.

The high speed people are the second highest paid person typically at a university. The highest paid is the chancellor and the second highest paid are usually it's some professor in the medical school.

But the second highest paid person is usually the director development, the money woman or the money man. I get asked for money a lot public school or public education is kind of my philanthropy, if you will.

Let me virtually signal I think I give money to about a dozen public universities public university change my life.

So it's sort of just a payback, but typically the ask is.

I'm in town, you know, hi, I'm the head of development for the University of Wisconsin Madison and I'm in town and the place you start quite frankly is previous donors.

And they say we want to update you so you start with the people saying we want to update you on your program where you gave money.

And you generally find out I'll give you some UW Madison. There's a penitentiary program where professors teach at a local penitentiary and give the inmates who are scheduled for release in the next several years.

Opportunity to earn credits such that they can hopefully have some motivation to get there.

AA or their bachelor's once they're once they're after release and I just love this program and the guys really smart that runs it their whole reach out to me.

So I'm in New York or he'll come to an event and I like him and they'll tell me about the program and I get inspired and I write a chat.

So the first place you want to go is your existing donors and talk to them about your plans for community theater.

You want to start cultivating. It's a relationship. It's very hard to just call people and ask people for money.

You may want to have some sort of upper tier where people get access to tickets or meet and greet with the actors and the producers and start calling or identifying a pool of people are passionate about community theater.

Finding out who are the donors the biggest donors and there's this list now everywhere in your area and then asking to have coffee with them and talk to them about community theater.

The wealthy parents of interns but you're basically your job is to be very social go out a lot meet people ask for a coffee to talk to them about community theater get them excited about it.

I'm not sure you know talk to someone who's successful and then you do the ask on the first I don't I think you invite them.

You have an interesting product to sell that people can get kind of emotionally engaged in and then figure out.

Badging like the you know for Milwaukee the Milwaukee art circle where for certain amount of money to get about it to a dinner every year or they get listed recognition you know we are we are going to be naming components of the theater whether it's the you know the stage or you know one of the one of the you know one of the rooms of the hall of the conference room.

There's some naming opportunities we'd like to talk to you about people of recognition by the local community but this is a fairly mature industry and there are classes you can take at warden and Columbia and Berkeley online on nonprofit fundraising so don't listen to my word stylist there's a lot of a lot of this is a big industry raising money for nonprofits.

Probably the best fundraiser I've ever met is a guy named Scott Harrison a cherry to water I don't have a lot of interest in potable water and subset here in Africa.

Is that wrong but I'm inspired by Scott he does a great job of keeping in touch with me sending me interesting articles and then I mean he's he wants to take me and my boys to Africa to show them building a well that'll be the most expensive trip I've ever taken because I'm sure I'll be very moved by it.

And end up riding a sizable check but it's just a lot of handhand combat maintaining relationships coming to people with opportunities creating badging recognition.

I mean there's just that there's a whole art and science to this so anyways ignore the above and sign up for a course and get some great information online on how to raise money for nonprofits in the arts.

Thanks for the question and your good work.

That's all for this episode if you'd like to submit a question please email a voice recording to office hours of property media calm.

Again that's office hours of property media calm or if you prefer to ask on Reddit just post your question on the scot gallery subreddit and we just might feature it in an upcoming episode.

This episode was produced by Jennifer Sanchez and Laura Jenner.

Camille Reak is our social producer Brad Williams is our editor and Drew Burrows is our technical director.

Thank you for listening to the property pop and property media.