Scott Galloway

And one of the reasons that people were willing to invest so much capital in the US is because there was a rule of fair play.

And we have lost that.

And people are rotating out of U.S.

stocks.

That is, in my opinion, a much bigger threat to our economy when we have decided that with a third of the world's GDP, we can control it, whereas we used to be the operating system through cooperation, rule of law, and standards and consistency, where we were the operating system for two-thirds of the world's economy, and everybody wanted to invest in the U.S.

Do you think big Canadian pension funds are thinking, how do we invest more in the U.S.

right now?

fuck you, I'll invest in Alibaba or I'll invest in Mistral or whatever it is, or Solonis in Germany.

They're like, we need to diversify away from this asshole.

And you're seeing that show up in our valuations in our market.

That is, in my view, that is the existential threat here to a decline

in our prosperity is the price of products go up when people either ban our products or stop buying our products, shrinking our markets for exports.

They impose reciprocal tariffs.

Human capital stops coming here, which reduces our

the quality of our teams.

And institutions don't want to invest in everything we do here, taking the PE down of everything, reducing or increasing our cost of capital, making us less competitive because of absolutely head up your ass, sclerotic, lurching, irrational industrial policy from our government.

In my opinion, it's not the Terminator that it's going to kill us.

It's a fucking clown called the president.

Support for the show comes from VCX, the public ticker for private tech.

For generations, American companies have moved the world forward to their ingenuity and determination.