The Prof G Pod with Scott Galloway
Prof G Markets: The GOP Tax Bill, United Health’s Terrible Week, & Chinese Tech Earnings
Mon, 19 May 2025
Follow the Prof G Markets feed: Apple Podcasts Spotify Scott and Ed discuss why United Health’s stock hit a five year low, Warner Bros. Discovery's latest move to rebrand Max, and Airbnb’s foray into offering bookable services for travelers. They then break down earnings from Alibaba and Tencent, highlighting how the results signal the growing momentum of AI in China — and why they're feeling bullish on the country's tech sector. Finally, they dissect the GOP’s proposed tax bill, explaining how it overwhelmingly favors the wealthiest Americans and threatens to accelerate wealth concentration across the country. Subscribe to the Prof G Markets newsletter Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on InstagramFollow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices
Why did United Health's stock hit a five-year low?
And the market appears to believe they're somewhat industry-wide. That's why you're seeing the devaluations in these other stocks. And I think that probably has to do with what we're seeing in politics.
We're seeing talks about lowering drug prices, increasing price transparency, giving Medicare more negotiating power, all these things that would be great for consumers, as we've talked about, but that would hurt the healthcare industry, hurt the bottom line. My view is... If history is any guide, healthcare investors have nothing to worry about.
Because what history would tell you is that lobbying ultimately wins. And who is the greatest lobbyist in America? It's the healthcare industry. $300 million in lobbying last year, more than any other sector, more than double what oil and gas spent. Never underestimate the power of lobbying and what it can do for your stock price. So I look at what's happening with UnitedHealth.
I see this as a company-specific problem. Sie beschäftigen sich mit internen Problemen. Sie haben die PR-Krise mit der Ausstattung des CEOs vor ein paar Monaten. Sie sind auch einzigartig zu Medicare und diesen höheren Kosten ausgesetzt, die damit kommen. Also, für mich ist das ein gemeinsames Gesundheitsproblem, nicht ein Gesundheitsproblem.
I agree with you. And I hate to say this. This is probably a buying opportunity for this stock to get cut in half. Yeah, it's probably because to your point, there's so much regulatory capture. I mean, these are American companies donating money to American politicians such that they can implement laws such that we have to pay more for drugs.
They were invented and manufactured here, then they pay in Mexico or Canada. Such that these American companies and their CEOs and their shareholders can get rich through incremental price gouging of American households. Where we have ended up with 40% of American households have some sort of medical or dental debt. And in America we pay $13,000 per capita per consumer for our healthcare.
The UK, Canada, Australia, all the other G6 nations average around $6,500. So we're paying $6,500 more per person and we're more obese and die earlier and have more diabetes and more anxiety and depression. So we pay double for a product that is worse. If you were to figure out a way to bring those costs in line with the rest of the G6 who have better outcomes,
355 Millionen Menschen mal 6500 Dollar, ich denke, das ist ungefähr 2,2 oder 2,4 Trillionen Dollar. Und diese Kosten fließen durch unsere Entschädigungen und bringen den Kosten der Regierung auf. Zudem die Anzahl an Geld und Leidenschaft, die Menschen, die zu hart arbeiten müssen, Menschen, die nicht arbeiten können, weil sie ungesund sind.
All of this bullshit around make America healthy again is nothing but a distraction. To talk about dyes and vaccines is a distraction from the real problems. The thing that is hurting America is income inequality. If you really wanted to make America healthier again, raise minimum wage to 25 bucks an hour.
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