God, I love this podcast. Difficult topics and challenges (which aren't always resolved), debated in a rational and adult manner. This is fast becoming one of the benchmarks. Bravo 👏

We need more rich people like Prof G to speak out against our tax code. It's an unsustainable system and our economy will eventually implode unless we make it more equal.

Thanks Ed for asking the questions that are running through my mind as I listen to Scott.

I believe the Kushner kid is smart and a good investor but to say he, "started at ZERO is crazy".

Dont hate the player, hate the game! Appreciate prof g being open about how he benefits from the system

Starlink is fine if you’re in a rural area or on a plane or boat, but it will never replace fiber optic cable because it is orders of magnitude slower/worse.

I learned very early in life that you don't want to have a high income via W2 especially if you live in a big city or it's super expensive. I work for a tech company remotely and I lived in Minneapolis for a few years made almost 200,000 a year and I paid so much tax I barely saved anything of the time you pay for housing in the cost of living in a city. I'm from a farm so I went back to the farm now my W-2 income is $40,000 a year All my money goes through my 1099 and my farm and I can save more now and can buy all the things I wanted to buy through the farm as a business expense and farms dont pay sales tax. Its extremely tax efficient. The only problem I found is if you want to get a mortgage even if you can easily afford it the bank looks at your profits from your business and if you purposely keep your profits low and your salary low they think you can't afford a house even if you can prove to them that you don't actually need to spend all the money on those things that are technically expenses and that you save $100,000 a year every year they don't care they want you paying the high taxes.

SO appreciate Prof G... And LOVE he shares his opinions on progressive taxing and INVESTING in America!!! He talks about Hoarding, and the disfunction of greed vs virtue of charity and generosity 💙

So good - really enjoyed the tax discussion. Thank you.

I have this prediction " Prof G market will go global - in next 2 year "

Scott Galloway flexing via Starlink: "I'M ON A BOAT!!!

Scott can you talk about how was the process of acquiring a private jet? The way Scott explains tax avoidance and how the average person gets run over is brilliant 😁

Adding color, the lifetime estate tax exemption in 2024 is $13.61 million per person, the exemption is in regards to the 40% estate tax at the federal level, there could also be an additional estate tax at the state level in addition to the federal estate tax depending on the state. Income taxes are still owed. These are two separate taxing systems.

SMA's are useful for investors who need customization. ESG, factor overlays, and gifting also add value. They are more expensive than index ETFs .

Colour me shocked, in 20 years 'they'll find something i said upsetting' Prof G never says anything upsetting!!!!

Scott Galloway flexing his ability to use stiarlink on a boat reminds me of that scene from the movie the jerk where Steve Martin leans out to a payphone and then declares I’m calling from my car.

I recall you talking about distressed debt a while ago, would be interested in hearing more details of the process.

This is the best show on KZfaq!

Good video and insights

ASTS Spacemobile’s tech is definitely worth a read on, if Scott’s making a space telecoms play. Starlink competitor, though is arguably capturing an even bigger market, if successful. And Elon’s not involved, which is a huge plus. Not to sound like a dirty shill..

Ed those eyes looking like you're being overworked! Blink twice if you need help

Thank you!

When people are hyping some of these stocks, I usually just look at the balance sheet which tells a different story. There is really only one company that has ever survived a horrible balance sheet at the beginning to go on and prosper, and that was Amazon. Their growth model included customers being able to dodge taxes - and that isn't repeatable in any space (including the one Amazon dominates).

Great formula for giving, using annual spending, nice to personalize it.

Finally Prof G is giving away the entire shabang! Come on Prof G, come on over to the right side!! You're almost there.

“The brand of Fascist Clown isn’t going to age well” 😂

Amazing podcast! Thanks for answering the tough questions, and people should agree with you. Otherwise, they're lying.

The pod production level is really good now days. I remember the early days when Ed Elson would mumble into a some macbook mic and it would sound just awful. Good job & well Done Ed Elson!

Scott Galloway, great job with this podcast. It is really quality.

That Starlink satellites account for 60% of all satellites currently in orbit is indeed amazing - but not in the way you cite. What's amazing about it is that we have allowed an idiot to dump his satellite trash into orbit with no thought to the amount of junk that we will ultimately have to clean up at the taxpayer's expense.

So... Ed, buy a commercial real estate :) Fantastic podcast! The Best!

What's Scott's view on the non-dom tax rules likely to come into place in the UK once Labour does come into power

Hey Scott. Long time listener and I really respect your voice. I think you are missing the long term play on AI, especially music. Consider that Google licenses all music that exists today to train its AI model on. Call that music set v0. Now for several months or years Google generates 100s of thousands or millions of "new" uncopyrightable songs because they are AI generated, call these songs v1. Now all of the new AI models train in the v1 songs for free and end the music business as we know it.

Scott’s dislike of Elon will always blind him to the great fundamentals of Tesla. Tesla is not just a car company. It never was.

14:58 Ed’s pick for story of the year is an Amazon tribe getting internet and addiction to social media? 😢

The great use of extra wealth is to buy some mid-range properties and rent half of the building to low income working families. The other half will pay the for upkeep on the property. Or better yet, build a new property specifically for families. Some units with 5 bedroom / 2 baths for larger families. And garage space. And a place to park a small fishing boat or camper. And space for the kids to play outside. And do so with future maintenance in mind (costs are getting out of hand). And rent to enough at regular rates to pay the maintenance and upkeep. Gee, some families might even want more children - and help slow our demographic cliff we are facing.

as someone who works in the creative industry, I have a question, do you not trust the power of IP, Mr Galloway? A comment about the A24 investment.

Oops Tesla is NOT $160. Tesla is at $210. Today

That SpaceX moat isnt that huge considering rockectlab have been catcing up and devlopping their own rocket faster than spaceX did

Great show. Got a Tesla and bought the stock in 2019. Got rid of both when Elon took his mask off to reveal himself as a fascist pig. That being said, EVs will be commoditized akin to smartphones. It is a race to the bottom if you look at the cheap Chinese EVs. Eventually all legacy auto will consolidate into one or two companies. Starlink is interesting. I think how Apple is approaching internet connectivity is the future. They are low key implementing satellite connectivity without cell companies. I can see them continuing to develop the tech to completely eliminate cell and companies like Starlink. In 20 years we will just connect to everything with just our mobile devices without cable, cell, satellite companies. That is where the real potential is for Apple. I agree with Scott on wealth. Money is one of those things no one will ever feel they have enough of. We need to find a way to tax the super wealthy and help our younger generation to thrive.

A24 is actually a great investment gross margin and fcf machine make movies for 2 million. Lot of top funds wanted in.

Please have a conversation with Gary Stevenson / Gary's Economics about wealth and tax please.

I predict Scott will have a long and satisfying life...PJ of the GreenRay🎉🎉🎉

29:38 It's Not What You Make, It's What You Keep

Starlink business plan is put 42000 satellitesand charge $100 a month for internet..... How is that going to be profitable?

In pronounced Volkswagen. not Volkswagen. Also, BMW is pronounced BMV. Great show, and looking forward to Aswath Damodaran.

is VOX writing these openings for G? Let the man fly

Great guys- sound advice. It’s surprising what $250/ month through a total stock index fund with reinvestment of dividends .. to the hitting a goal in order to diversify .. to then begin a developing not only a national portfolio of indices but also looking at international and emerging markets really give a person the room to be more aggressive in tolerating risk because that risk can be mitigated over the long run… It also helps one become more aware of geopolitical influences - instead of war dogs.. invest dogs! One more reason access to quality information can definitely help a person make better decisions in their financial independence.. USA! USA! Happy fourth peoples

Scott, you avoided responding to the elephant in the room question. Private philanthropy as you see it is an effective source of wealth distribution because our government is corrupt to the point where any dollar allocated to their discrepancy is essentially Wasted you have concluded that if you want to do any good at all, it needs to be done privately. This speaks to the evolution of our government system. It also speaks to the necessity of wealthy people to direct funds to local communities and describe those communities for themselves, to which they feel an affinity. It is potentially a viable step as a transition from a global economy to one centered around federations comprised of local economic entities, supported by wealthy individuals as a form of aristocracy.we are degrading into fascism. We cannot go 180° towards Democratic institutions. However, wealthy people have a unique opportunity with the concentration of wealth to institute an aristocratic model in parallel to what is now heading towards fascism as an alternative on which the system can reflect an overtime potentially evolve. Keep up the good work.

Don't worry Ed the other side is truly fighting for the working man- you do realize this is the wealthiest nation ever right

The upside of our tax code and business regulations is that it has attracted much of the world's capital - money and human - and we have the greatest economy on earth by 10X (ignore moronic GDP numbers). Low-income Americans live better than 99% of the the world. Unfortunately, on occasion, it gets out of hand and causes social and economic issues. And the existing cultural and societal issues - our desire for drug use, crime, feeling of entitlement, etc. - often get confused with income inequality. No amount of welfare will help drug users or people with undiagnosed or untreatable mental illnesses. We need to restore balance but do so without harming the system that brought us the great wealth. Just shaving off the excesses Scott mentioned would probably work. I, myself, was stunned when I moved back to the USA after many years overseas and found out I didn't have to pay jack shit in taxes as I made my money by investing. I actually hired another CPA the first year to double check my taxes as I felt like I was doing something illegal. He said all was fine and suggested some other loophole the first guy missed. That said, my level of wealth has been downgraded since I moved back to USA in 2011. I am no longer upper middle class. My middle class friends are not middle class anymore. The business owners have done the best - especially under COVID when Trump gave away Trillions. They received a lot of free money. And it took Biden a while to stop it. Biden has redirected the giveaways to certain industries that he believes will help the future - but they are still giveaways.

When will people realize that cars are like 30% of Tesla’s future earnings potential?

😯 When Prof G Markets -CLIPS Account???

Loans agiasnt stock should be a taxable event and Congress really needs to look at KZfaqrs and tax policies. Being a "content creator" should not allow you serious tax deductions for the vast majority of them. Also, content creators should be audited.

I’m outdoorsy 😂

$f 50 bil. $rivn 15 bil Good try Scott

38:17 how will I ever afford to buy an NFL team if I only have $100 million?

Has someone tried whipping them satellites into orbit lol… ya know, like that tennis ball whipping handle for dogs. Build a gigantic one of them, place a satellite in the cup and catapult that thing into orbit. Yea yea I know someone that understands physics would need to do some math on this lol. Seems potentially logical….. Elon is a damned genius.

Wait.... Ed is gonna get taxed 30/35/45% Scott I want to work for the Prof G show at minimum wage

Paid AI training content surely changes the ROI models for AI no?

Scot hates Musk but can't live without starlink. Don't hate. Make money. Same with Scot, don't like or love him, but I do listen cause sometimes he shits out nuggets of gold.😂

Why buy rivian when you can get their ip for 1 billion.

Show me one credible business that uses generative Ai without having to check the answer every time. Transformer models don’t sometimes hallucinate they are always hallucinating. It’s not viable technology. All this hype is to provide justification for the 100s of billions of investment for a hardware buildout. Useful Ai is 3-5 years away.

If the government used the money and fixed things then I'd be for it, but the squander it and advantage their cronies. You can do more good with that money because you can decide if what you're trying help works or not. If not, you stop, the govt just keeps spending with know accountability.

Sure AI will have to pay for content…..in This country

Listen to Scott, bragging about his $1,700 Rimova bag! I thought I was hot sh*t with my 40 yr old Tumi. Let’s get AI into the IRS!!

Yeah it's funny my little brother is a TV journalist / meteorologist he lives in a relatively low cost big city takes 120,000 a year and his actual purchasing power after taxes the significantly lower than mine and I only make about 50,000 W2 per year the rest of my money goes through my farm in my farm contracting business via 1099 and I write off legitimate business expenses that include most of the things I would want to buy with my after tax W2 income. All my friends have large farms and they're mostly worth 5 to 30 million net worth but we pay ourselves about $40,000 each usually their wives also make $40,000 and they pay their kids 15 bucks an hour to work on the farm when they're old enough to lower the tax burden. The very best tax minizers are farmers in the IRS never goes after farmers because everyone feels bad for farmers They are rest those after the people and attack and finance and stuff like that trading firms.

I don't want to move to Texas or Florida!! 🤪

TESLA $255 as of 7/3/2024 😎😎😱😱

...don't bother fixing the tax policy, because that's not possible. Blaming "the rich" is so much easier than getting bad legislation out of the way.

Profs’ hatred of Elon is a blind spot on Tesla. If you still think Tesla is just an auto company you’re not paying attention.

Taking advantage of every law that is available to leverage is the right answer. Even Trump said he did it. There is no reason to preemptively just pay more taxes, nobody fucking just writes EXTRA tax checks to the government.😂

The gods arn't crazy, they're just on TikTok... And now we say 'person/ deity experiencing mental unwellness'.

How many people can get 100 million in their lifetime? Is this the new minimum to be happy. LOL...

I love Scott but I can’t take anyone seriously who calls the riot on Jan 6 an Insurrection.

I can put up with the strange lack of self awareness+hypocrisy of the prof G for the value that comes along with it. Prof G either got caught with little boys and is compromised to say dumb things or lacks common sense. I can never figure it out. Either way love the pod.

The fact Galloway thinks Tesla is a car company is the clearest example of a derangement guided blind spot Ive ever seen

Scott said exactly what Trump said about his taxes.

Scott is the biggest hypocrite. He is a master at preaching one thing, while doing the exact opposite. The fact that he is 'honest' about it gives the impression of him being a good guy. But that's an illusion. One that he has fooled himself into believing.

Wrong. You should ask why the gov collect so much tax. Cut the entitlements. Get rid of alphabet soup agencies.

What's the deal with the Elon hate? I like the guy but yes I'm aware he doesn't always say "the right thing" according to the thought police out there. Do people have to be perfect to have approval to like them these days? I hope not.

Ahhh…a narcissist multimillionaire telling “us” how he avoids taxes and how those of us who aren’t multimillionaire’s can as well. Who is living under a rock here? Better stick with your middle school jokes.

Comedy is a full time, 24/7 job. You can’t attempt it “part time”. Stop it.

Ed, you need to stop your hate towards Elon and stop virtue signalling. It's disgusting at this point.