The Algebra of Wealth (A Simple Formula For Financial Security) - Professor Scott Galloway

The Learning Leader Show With Ryan Hawk -- www.LearningLeader.com
Scott Galloway is a professor at NYU’s Stern School of Business. A serial entrepreneur, he has founded nine firms, including L2, Red Envelope, and Section4. He's the author of many best-selling books, including, The Four, The Algebra of Happiness, and most recently, The Algebra of Wealth.
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I’m Ryan Hawk and I’m a writer, podcaster, advisor, and teacher. My favorite thing to do is have a deep, long-form conversation with a thoughtful person. Fortunately, I get to do that often on my podcast, The Learning Leader Show. I created The Learning Leader Show in 2015 as a way for me to follow my curiosity about leadership and excellence with great rigor. It has since been listened to by millions of people in more than 150 countries.
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EPISODE TIME STAMPS
0:00 - Intro
0:44 - Fundamentals of understanding the market
3:23 - The importance of male role models
3:55 - Paying your skills forward
6:09 - Millions of boys have no male role models
7:25 - The fear of adding value to another boy’s life
8:42 - What was the philanthropic shift in Scott Galloway’s life?
12:40 - This is the most depressed generation EVER
14:33 - Scott Galloway on being grateful for his wife
16:37 - Gaining clarity from ketamine therapy
23:57 - Have the willingness to ask
28:20 - How to handle rejection
33:16 - Cry more and laugh more
39:16 - Taking humor back on the left
46:16 - The ability to be an effective communicator
54:09 - Figure out what you can do that others won’t

[@sarawilliam696]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[@PatrickFitzgerald-cx6io]

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

[@brucemichelle5689.]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@Pamela.jess.245]

My partner’s been considering going the same route, could you share more info please on the advisor that guides you?

[@brucemichelle5689.]

Colleen Rose Mccaffery’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@Pamela.jess.245]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@BekeeChisomaga]

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 20k in last month 2024..

[@bekeechristianchisom8541]

I'm glad I got into crypto then, because it was a turning point for me financially, and it's my best decision so far.

[@TheodoraGrant-jw7fl]

Inspiring! Can you please give me some tips on how to invest in a healthy way like you are doing now?

[@pinned.bymarktilbury2858]

It’s advisable you to stop trading by yourself if you keep losing. I didn't trade alone anymore, I always needed help and assistance.

[@EmeryMckee-uf9vy]

Bitcoin has been rising for a while and could rise again. The truth is that no one knows, I think this is the right time to buy and also get a professional assistant

[@daniyalahmed322]

Yes!! That's exactly who she is, Wendy Lee Olson. Many people have said a lot of good things about it and I am just starting out with it from Australia 🇦🇺

[@garfieldcampbell8847]

I grew up with two great parents. My parents were married until death. Yet one of the most influential person in my life was my 10th grade teacher a man that showed empathy, non judgmental and kindness… that experience helped me to find direction. I can’t imagine not having a positive male role models in my life.

[@EcomCarl]

Scott's perspective on risk and its necessity for substantial achievement is compelling. It reminds us that personal growth often requires stepping out of our comfort zones and that mentoring can have profound impacts on young lives. 👨‍🏫

[@Jessecote875]

I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer

[@Brucelanham845]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.

[@Nguyenvictory83]

You trade with Natalie Strayer too? Wow that woman has been a blessing to me and my family.

[@Rodriguezpaul-9]

YES!!! That's exactly her name (Natalie Strayer) so many people have recommended highly about her and am just starting with her from Brisbane Australia🇦🇺

[@Charlottehornets4]

I'm new at this, please how can I reach her?

[@Josephbasta827]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills.

[@mmm-cake]

Love this guy. Incredibly kind and insightful.

[@ryanmorris2504]

love the new intros and previews to the episode!

[@RyanHawk]

Thank you Ryan!

[@crbradbury8282]

Hugely impressed and loving the story at 19:00 minute mark. I too have gotten dozens of "Bahne" skateboards over the years. And women can definitely either be rough or vital in men's successes 🤩🙌🏼😎

[@RyanHawk]

🙏

[@tsiftsaro]

Hi Scott, love your stuff. About envisioning the kind of person you want to be in the life of others, it seems it came for you about the time you became much wealthier. Trouble comes up when you have to decide whether to be good to yourself, or to be a good son or a good husband for example , because those require time and resources which for mostpeople are limited, so you only get to choose who you help and who will suffer.

[@michaelbryant2071]

At 70 Scott, l am well aware of how fast time flies. The problem is, l was 69 when it happened.

[@waynerichardson1051]

That was farking brilliant mate. Thank you very much.

[@user-ub1xc3wn5w]

loving it

[@matthewpirtle8318]

True Education!

[@tonyjackson8413]

Great episode!

[@RyanHawk]

Thanks so much!

[@tonyjackson8413]

@@RyanHawk also Ryan. I played football at University of Iowa and we played Miami of Ohio in 2003. Were you on that team? My story is similar to yours, unexpectedly short football career, that led to a decade of sales, and finally entrepreneurship. You just picked up a regular viewer. Keep doing your thing brotha! 👏🏾

[@RyanHawk]

I played on the 2001 team that played at Iowa. Physical game. You guys beat us up

[@zeddydado]

Great show! One observation, the sound levels between the two of you were out of balance. At least it was for me. Scott's was too low and yours was too high. Cheers!

[@georgejetson4378]

Perhaps a major reason why there aren’t many men teaching is because the pay is so low and student discipline is a big problem.

[@tommyg5261]

Unfortunetly you cant take risks unless you have some disposable income. Takes money to make money. Unless your exceptional in some way.

[@Sheir01]

That’s what boomers fail to understand. Their generation got paid enough in their 9 to 5 and their buying power was big enough so that they could take risk and start businesses or investments. Younger generations can’t take those risk anymore. Our income after taxes and bills leave us close to nothing. Especially if you live in the city.

[@cmmndrblu]

Thank you for recognising this

[@brad9092]

You can still live a life of fulfillment and dignity, even without money. Even if you don't like your job, if you're taking care of your family, you can feel good that you are doing your part. A very important part.

[@matthewcaldwell8100]

@@brad9092 You really seem to think that jobs are still providing people enough to live on these days. They're not. The pride of work has followed wages: down the drain.

[@brad9092]

@@matthewcaldwell8100 Don't give up. It is possible. I will admit that you need a skill, something valuable to the marketplace. If you don't know anything or can't do anything of value, your wages will remain low. Either way, you can live in dignity if you choose.

[@LLau]

Video cuts out from 56:37 - 57:02

[@dawnfmEnthusiast]

Thank you!

[@cmmndrblu]

Mentors and Grants for internships/study/workplacements would help a lot

[@MsJones-mc9gq]

?

[@matthewcaldwell8100]

Not if they don't include actual compensation that isn't a sick joke, they won't.

[@Gromov-jj8jf]

we're not friends, but we're friendly 😅

[@buckchile614]

A former severe stutterer(into my 50's) that learned the power of diaphragmic breathing that enabled me to relax enough to speak publicly. Now I'm a Health & Wellness Coach that facilitates tai chi & substance abuse groups. Humor plays a huge part. " A friend is someone that can help you move. A best friend is someone that will help you move a body." --Dave Attell

[@Brayness]

How much money did he lose paying .1% per trading day to check the stock price?

[@michaelparks7177]

And, it’s not just an American problem. There’s high youth unemployment in many countries. India, China. There’s something going on. Agree that opportunity is part of that and agree with your fundamental premise. But, social media is doing a lot more. This is our society they’re fking with. And, that is not a game.

[@billwalt9026]

scotts mike is so much softer and turned down that I have to adjust my volume when the interviewer talks I have to turn it down his mike is so loud or his voice is so loud... any way to much work to adjust my listening volume... take care

[@peterpayne2219]

My male role modem growing up was William Shatner. So naturally he blocks both my accounts on Twitter, essentially treating me like he treated Wesley.

[@davonperson]

Uncomfortable risk and enduring rejection as core competencies.

[@jimjackson4256]

Starting to cry will help me become successful . Yea right.

[@julianbailey7246]

The sound quality is killing me/ Prof G is sounding lower than Mr. Hawk

[@seangibner]

Great video but you need to mix the audio better. Scott and you are way off. Your mic was booming compared to his.

[@drachenmarke]

And what risks did you take Scott, without your free educations and grants?

[@jeanlephunk]

As a conservative you listen to these guys and we have so much in common, how did we end up hat1ng each other

[@exnihilo415]

Monetization of conflict. Offend to trend will be the death of us.

[@jeanlephunk]

@@exnihilo415 👍🏽

[@matthewcaldwell8100]

Because a lot of centrist liberals are fundamentally conservatives and you're too dumb to realize it.

[@bcbeasters]

"Let's start with the crying first!" 😁

[@bcbeasters]

I laughed way too hard hearing that line! 😋

[@davonperson]

The most over compensated people in an organization relative to their contribution? Sales people. 😂

[@listenherenow8775]

How can I take risks when the Supreme Court is about to rule that I'll be arrested for being homeless.

[@theconcealedmistress]

How can you take risk and abortion is now illegal. Less money for you stuck for life

[@nicolem5626]

Don’t listen when they say to take risk because most people do not have any money making ideas.

[@ferdinandmagellan9210]

Arrested and what? Imprisoned?

[@listenherenow8775]

@@ferdinandmagellan9210 yes!

[@matthewcaldwell8100]

@@ferdinandmagellan9210 Have you been living under a rock? Yes, arrested and imprisoned.

[@mspadorchard1]

Ryan, why would you assume that ketamine "therapy" would be a reason by someone would speak more of his wife? That is an assumption that should not be made.

[@RyanHawk]

Because that's what he said on his podcast the week before we talked

[@mikepoulliott2753]

Ryan doesn't understand boundaries.

[@danieldpa8484]

I think the idea of a male role model is great. I did it somehow subconsciously by employing young guys with little to no chances in the job market and giving them a chance to show what they are capable of. So far it always worked out positively. I have one condition: “you get the job and the opportunity. One day you will be in a leadership position and another young guy will be sitting in front of you hoping for a chance. Remember this moment and give him a chance”. I hope they will stick to it but so far I helped about 25 guys this way, about one per year of my career.

[@MessyThinker]

Lol to continue to ask about the wife literally after he said she doesn’t want to be spoken about. Gosh darn self-help bros.

[@davonperson]

Learn to forgive yourself!

[@walterkalosi77]

Wow I am turning this shit off..this dude is just lucky.

[@adjuvara]

CNN plus host 😂, poor Scott

[@buckchile614]

Yeah, he's too honest to work @ Fox; also too smart

[@rolexmagazine]

@@buckchile614 CNN Plus was cancelled two years ago

[@FoamandStuff]

Not poor Scott. CNN still had to pay out his contract and this man is worth over two hundred million dollars through his investments and start up companies he eventually sold. He also makes millions every year from his media company, speaking arrangements, and consulting.

[@JensonThunders]

Great chat but nothing to do with wealth ???? That’s poor written communication 😂

[@RyanHawk]

Did you watch the video?

[@exnihilo415]

@@RyanHawk dude wants a wire transfer. Heh.

[@oceansunsetak]

I enjoyed listening to this Galloway interview. But I feel he violated his wife's wishes by telling us he met her in a Hotel pool when she had hardly anything on. She was 20 years younger then to top it off the name one of their sons after the hotel. Oh how we men love to brag LOL

[@matthewcaldwell8100]

Scott seems, like most boomers and Xers, how much riskier normal everyday living has gotten, and precisely because of the things his generational cohort supported. We live in a society where needing medical care or getting an education has a very high chance of ruining your life, where no one can get a job and those that eventually do have to deal with a work environment that severely underpays them, and where there are very few supports if you should fall on hard times. The only people whose "risk-taking" is unaffected by such an environment are the obscenely rich, the undeniably brilliant, and the incredibly lucky. And that's before even touching how the school systems YOU BUILT treat every form of intellectual endeavor like a college audition from the time we are old enough to read. Stop lecturing us about our character and start actually helping us to change the terrible policies that led us here.

[@Ambinwoke]

I will never trust this man ever again.

[@moneyAllPowerful]

Intro style copied from most annoying channel DOAC

[@vinceocratic]

Immediately stopped watching when the interview was interrupted with bullshit.

[@threewishes777]

As Millennials and with boomer parents we are going to live longer and keep our job and our homes. Expect us to live to our 80s and leave our homes to our kids or grandkids. Opportunity window doesn't stay open forever and not everyone gets chance. Nature works that way . Its not 1980s or early 2000s . You just need wait your turn genz . GenApha probably will over run you because theyll be getting safe guards you didn't ger. Lady luck loves 🎲 🎲

[@CPATuttle]

He’s an atheist telling us what’s morally right.

[@andreal2625]

👍

[@Tony-Red]

If you need religion in order for you to have a moral compass then you're probably not a good human being.

[@CPATuttle]

@@Tony-Red who decides whose a good human being, you? You’re probably garbage