Opinion
Galloway: Universities create artificial scarcity to hike tuition faster than inflation
“Institutions like mine at NYU take pleasure in artificial, creating artificial scarcity so we don't let in as many kids as we could, such that we can drive up the cost of tuition faster than inflation and pay ourselves more for less accountability”
Opinion
Galloway: Young people need to drink more alcohol
“Well, on a practical level, the young people need to drink more.”
Assertion Supported
Galloway: Young Americans transfer $1.3T yearly to seniors via Social Security
“Every year, young people transfer 1.3 trillion dollars in the form of Social Security payments to the wealthiest generation in the history of the planet, seniors.”
Opinion
Galloway: Health risks of alcohol are dwarfed by social isolation for young adults
“And I think the risks to a twenty-five-year-old liver of alcohol are dwarfed by social isolation.”
Insight
Galloway: Tech Dominance Comes from Overwhelming Competitors with Cheap Capital
“Winning in our economy has become a function of establishing a great product, establishing the perception that you're the market leader such that you can attract cheaper capital. And essentially, Overwhelm the competition with capital.”
Insight
Galloway: Corporate Breakups Benefit Everyone Except the Monopolist CEO
“Breakups are one of those few things in economic history that almost always work for almost everybody. The only person that loses is the CEO who wants to sit on the iron throne of all seven realms, not just Westeros.”
Assertion Supported
Galloway: US teen suicide has increased 60%, driven partly by social media
“We have a 60% uptick in teen suicide in the US, and I don't put it all at the hands of social or the feet of social media, but it's definitely played a role”
Assertion Contradicted
Galloway: US 30-year-olds are financially worse off than parents at 30
“For the first time in our nation's history, a thirty-year-old isn't doing as well as his or her parents were at 30.”
Assertion Contradicted
Galloway: US spends $12 on seniors for every $1 on kids
“Every year in the U.S., we spend 12 dollars on seniors for every one dollar we spend on kids.”
Assertion Partly supported
Galloway: On Tinder, 46 of 50 women focus on four men
“If there's 50 men on Tinder and 50 women on Tinder, 46 of the women will show all of their attention exclusively to just four men. Leaving 46 men to fight over four women.”
Assertion Partly supported
Galloway: Unmarried men by age 30 face 1-in-3 substance abuse chance
“If a man hasn't cohabitated or been married by the time he's 30, there's a one in three chance he ends up a substance abuser.”
Opinion
Galloway: Remote work is a disaster for young people
“I think remote work is a disaster for young people. I think they need to meet each other, learn how to read the room.”
Disclosure
Galloway reached his $150 million wealth target ten years ago
“My number was one hundred and fifty million because I thought it would be hard for me to spend half a million dollars a month, although I figured out how. And four percent of a hundred fifty million is six million, half a million dollars a month. I got there a…”
Opinion
Galloway: Quality Time Is a Myth Invented by Wealthy, Absent Parents
“I don't believe in quality time. I think that's a concept invented by wealthy people with no time who don't want to spend that much time with their kids and pretend they're good dads.”
Prediction Not checkable as stated
Galloway plans to restrict children's inheritance to essential security
“I'll give them enough money so they can always have a house, always afford education. I'll give them a start, but they won't inherit. I won't give them a ton of money. I'll give them, I don't know what that number is, but I'll give them enough money. I love wh…”
Assertion Partly supported
Galloway: Seven Companies Represent 34% of the S&P 500
“34% of the S&P is represented by seven companies, and 50% of the equity value of the world, and 70% of the enterprise value, if included the debt, is wrapped up in the U.S. Economy, which has seven companies, and if any of those seven companies sneeze, the who…”
Insight
Galloway: US outpaces Europe because companies ask forgiveness, not permission
“If you were to try and come up with three or four reductive reasons why the U.S. Has created so much more economic value than Europe, I think if you're intellectually honest, you would say that in the U.S. Companies are allowed to ask for forgiveness, not perm…”
Assertion Partly supported
Galloway: 75% of women prioritize partner wealth vs 25% of men
“75% of women say economic viability is hugely important in a mate. It's only 25% of men.”
Assertion Supported
Galloway: Average men need 200 dating app swipes for one coffee date
“And the scary stat I saw, I think you referenced, is that in order to get one coffee, a man of average attractiveness on a dating app has to swipe right or try and connect with 200 women to get one coffee.”
Assertion Contradicted
Galloway: In 80% of long marriages, the man was initially more interested
“If you talk to people who've been married longer than 30 years, 80% of them say one was much more interested in the other at the beginning, and it was always the man was more interested in the woman.”
Disclosure
Galloway: Goldman Sachs Manages Wealth; Excess Over Baseline Is Spent or Donated
“Goldman manages my money. They give me a number every year. And anything above my number, I either spend it or I give it away.”
Insight
Galloway: Having children increases professional motivation for most men
“For most men, kids are motivating professionally, because you realize it's no longer just about you.”
Insight
Galloway: Becoming a billionaire requires building allies through high character
“And the key to being a billionaire is establishing allies along the way. And that is people put them in a room of opportunity, even when they're not in that room, because they're really high character, good people.”
Opinion
Galloway: Miserable billionaire stereotype is false; wealth supports healthier families
“I find that's mostly a cartoon that there's so much anxiety injected into relationships when you don't have enough money that those are the people that have really dysfunctional families. So my experience has been that actually wealthy people are both a high c…”
Scott Galloway