Scott Galloway

There's supposedly...

more than a dozen or a dozen and a half people just in Texas who no one's ever heard of who became billionaires today.

And they'll go start companies, make investments, buy things, fuel the economy.

And you also see people excited about the markets, more capital flowing into the US markets.

They're gonna spend that money, economic growth, GDP.

The problem I have is where I come back to earth here is that who is funding all this and where is that money coming from?

And I still would argue this is the greatest transfer of wealth we've seen, at least in a short time, from retail investors to a small concentration of people since crypto.

And I'm a boomer.

I just look at this and I think it doesn't make any sense.

And what I think we have here, and it hasn't gotten enough discussion, is the greatest and most scaled example of manufactured scarcity.

I was walking around Stockholm today and I walked by an Hermes store.

And they purposely have a line.

I looked in the store, it wasn't that busy, but they purposely create a line to create the sense of scarcity.

And then if you go in and try and buy a Birkin bag, they put you on a waiting list and they tell you, oh, no, no, no.

And these are not complicated things to manufacture.

but they want to create the illusion of scarcity or manufactured scarcity.

And what I don't think people are focused enough on here, and there's been news on it, but it's really, I think, the whole shooting match, is that Musk threatened not to go public on the NASDAQ unless they waive the 12-month requirements for him to be included in the NASDAQ 100.

So they backed down, they blinked.

The S&P said no, the Dow Jones said no, but the NASDAQ blinked.

And the result is they're immediately included in these indices.