Scott Galloway

But I want to hear from you and your views on what this means and what it'll look like going forward over the next few months.

And then we can get into inflation expectations longer term.

You made a compelling argument.

You kind of broke down, loosely speaking, that we're at 4% and we'd be at 2% if it wasn't for the war in Iran and these tariffs.

That literally our inflation is up from what is a target inflation rate of 2% to 4% based on self-inflicted injury.

And as it relates to Iran, there's two concepts.

The first is when officers are evaluating subordinates in terms of decisions, and they spend a lot of time analyzing decisions that were made, what they do is they say, it's not the outcome that determines whether the officer made the right decision.

They go back and say, at that moment, given the information available, did the officer make the right decision?

And going back to, so first off in Iran, you at the very beginning said, this is a quagmire, it's a bad idea, this will go longer than anyone expects.

I said, I think this could be a good idea.

You were right, I was wrong.

And going back,

The idea of toppling a wobbling regime, neutering the Navy, further defenestrating their missile capabilities, further staunching the flow of capital and resources to their proxies, I thought that was a real opportunity.

And had we, I believe, signed up some European allies, done a better job of analyzing the threats to our Gulf neighbors, securing the Straits of Hormuz before they had an opportunity to start wreaking havoc there, and quite frankly, going in, having very strict, narrow military objectives and then leaving, I still hold to the fact that there was an argument for this.

Now, the second concept is what I call, or Hillary Clinton teaches a class, and one of the concepts is the dominion of failure.

And that is when you're in an argument with someone and you make a point, and then they come back aggressively at you, it's human nature to double down.

And then once you double down on your argument, you're sort of invested and you're in too deep.

And you keep, and you can, I don't know if this has ever happened to you, but you find yourself arguing a point.

I'm like, I don't even agree with what I'm saying, but it's too late.

You've crossed the chasm.