Scott Galloway

We have a lot of energy companies that I can't imagine what's happened to the stocks of the companies that build

the materials for pipelines.

We have Exxon and Chevron.

I mean, you know, those companies are making a lot of money.

Those companies are actually doing pretty well.

So, and then when there's, it's almost, you know, it's unfair, but it's true.

When this type of insecurity hits the world markets, there's a flight to safety or the least unsafe place.

And that's the US and tech stocks and the dollar.

It's sort of like, well, where do we go?

We don't know.

Well, okay, let's go back into tech.

Also, after the drawdown, after the kind of SaaS apocalypse, there is, as a multiple on cashflow, some of the tech stocks right now look to be decent,

You know, when you can invest in Nvidia at 24 times forward earnings or something, it's just not a bad store of value.

When Microsoft is trading at its lowest multiples, and you're gonna talk about this in a decade, you think, well, maybe that's not a bad value.

So it's sort of the sum of all fears

of what it means to have a bit of a hegemony, at least from a financial standpoint, and that is the U.S.

And that is, okay, let's outsource all the pain to the rest of the world and within the U.S.

Let's outsource all of the pain to lower and middle-income households.

The only caveat here is, you know, this story isn't over, right?

Markets don't go straight up or straight down.