[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So this is the first and the last slide\Neach of my 6400 students
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,for the last 15 years have seen.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I do no believe you can build\Na multimillion dollar organization
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,unless you are clear on which instinct\Nor organ you are targeting.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Our species has a need for a "super bing"
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,our competitive advantage\Nas a species is our brain,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,our brain in robust enough to ask\Nthese really difficult questions,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but unfortunately it doesn't have\Nthe processesing power to answer them,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,which creates a need for a super bing\Nthat we can pray to
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and look to for answers.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,What is prayer?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Sending a query into the universe,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and hopefully there's some sort of\Ndivine internvention,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we don't need to understand\Nwhat's going on
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,from an all-knowing, all-seeing superbeing
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that gives us authority
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that this is the right answer.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will my kid be all right?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You have your planet of stuff,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you have your planet of work,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you have your planet of friends;
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,if you have kids,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you know that once something\Ncomes off the rails with your kids,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,everything melts,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and your universe\Nto the summit is your kids,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,will my kid be all right?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Symptoms and treatment of croupe\Nin the Google query box.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,One in six queries to Google\Nhave never been asked before
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in the history of mankind.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,What priest, teacher, rabbi,\Nscholar, mentor, boss
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,has so much credibility
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that one in six questions\Nposed to that person
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,have never been askied before?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Google is our modern man's god.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Imagine your face and your name\Nabove everything you put into that box
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and you're going to realize you trust\NGoogle more than any entitity
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in your history.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Let's move further down the torso.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,One of the other wonderful things\Nabout our species
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,is we not only need to be loved\Nbut we need to love others.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Children with poor nutrition\Nbut a lot of affection
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,have better outcomes than children\Nwith good nutrition and poor affection.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,However, the best signal\Nthat you might make it to be
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,part of the number-one fastest\Ngrowing demographic in the world,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,centenarians,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,people who live to triple digits,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,their are three signals.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,In reverse order,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,their genetics,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,not as important as you'd like to think,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,so you can continue to treat\Nyour body like shit,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,think that, "Oh, Uncle Joe lived\Nto 95 to die at the ... ]
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it's less important than you think.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Number two is lifestyle.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Don't smoke,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,don't be obsese,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,pre-screen,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,get rid of about two-thirds\Nof early cancers
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and cardiovascular disease.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The number one indicator or signal\Nthat you'll make it to triple digits:
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,how many people do you love?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Caretaking is the security camera,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,what we call the low-resolution\Nsecurity camera in our brain,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,deciding whether or not\Nyou are adding value.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Facebook taps into our instinctive need
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,not only to be loved,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but to love others,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,mostly through pictures\Nthat create empathy,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,catalyze,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and reinforce our relationships.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Let's continue our journey down the torso.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Amazon is our consumptive gut.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The instinct of more is hardwired into us.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The penalty for too little\Nis starvation and malnurtition.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Open your cupboards,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,open your closets,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you have 10 to 100 x times\Nwhat you need.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Why?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Because the penalty for too little
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,is much greater than\Nthe penalty for too much.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So more for less is a business strategy\Nthat never goes out of style.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's the strategy of China,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it's a the strategy of Wal-Mart,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and now it's the strategy of the most\Nsuccessful company in the world,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Amazon.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You get more for less into your gut,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,digest,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,send it to your muscular\Nand skeletal system of consumption.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Moving further,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,once we know we will survive,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the basic instinct,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we move to the second\Nmost powerful instinct,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and that is to spread and select
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the strongest, smartest\Nand fastest seat
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to the four corners of the earth,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or pick the best seat.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This is not a timepiece.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I haven't wound it in five years.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's my vain attempt to say to people\Nif you mate with me,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,your children are more likely to survive
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,than if you mate with somebody\Nwearing a Swatch watch.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The key to business is tapping into\Nthe irrational organs.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Irrational is Harvard Business School\Nand New York Business School's term
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,for fat profit margins
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and shareholder value.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,High caloric [paste] for your children,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,no?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You love your choosey mom.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Why choosey moms choose JIF,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you love your kids more,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the greatest algorithm for shareholder\Ncreation from World War II
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to the advent of Google
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,was taking an average product\Nand appealing to people's hearts.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Your a better a mom,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,a better person,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,a better patriot
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,if you buy this average soap\Nversus this average soap.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Now the number one algorithm\Nfor shareholder value isn't technology.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Look at the Forbes 400,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,take out inherited wealth,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,take out finance,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the number one source of wealth creation:
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,appealing to your reproductive organs.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The [lauders?]
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the wealthiest man in Europe,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,LVMH,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,numbers two and three H&M\Nand Indotechs.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You want to target the most\Nirrational organs for shareholder value.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,As a result,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,these four companies --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Apple, Amazon, Facebook and Google\Nhave disarticulated who we are.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,God love consumption sex.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The proportion in your approach\Nto those things is who you are
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and they have re-assembeled who we are\Nin the form of for-profit companies
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,at the end of the Great recession,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the market capital of these companies\Nwas a equivalent to the GDP of Niger,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,now it is equivalent to the GDP of India,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,having blown past Russia and Canada
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in '13 and '14,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,there are only five nations
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that have a GDP greater than the combined\Ncapital of these four firms.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Something is happening though.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The conversation just a year ago\Nwas which CEO was more Jesus-like,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,who was running for president.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Now the worm has turned.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Everything they're doing is bothering us.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We're worried they're tax avoiders.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Wal-mart, since the great recession,\Nhas paid 64 billion dollars
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in corporate income tax.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Amazon has paid 1.4.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,How do we pay our firefighters,\Nour soldiers and our social workers
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,if the most successful\Ncompanies in the world
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,don't pay their fair share?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Pretty easy.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,That means the less successful companies\Nhave to pay more than their fair share.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Alexa, is this a good thing?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This is despite the fact
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that Amazon has added the entire\Nmarket capitalization of Wal-Mart
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to its market cap in the last 19 months.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Whose fault is it?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's our fault.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We're electing regulators\Nwho don't have the backbone
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to actually go after these companies.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Facebook lies to [regulators]
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and says, "It would be impossible
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,for us to share the data between\Nour core platform
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and our proposed acquisition of Whatsapp.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Approve the merger."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They approved the merger and then --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,spoiler alert --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,they figure it out.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And the EU says, "I feel lied to,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we're fining you 120 billion dollars,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,about .6 percent of the acquisition price\Nof 19 billion dollars.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,If Mark Zuckerberg could take out\Nand insurance policy
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that the acquisition would\Ngo through for .6 percent,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,wouldn't he do it?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Anti-competitive behavior.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,A two and half billion dollar fine,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,three billion of the cash flow,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,three percent of the cash\Non Google's balance sheet.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We are telling these companies
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the smart thing to do,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the shareholder-driven thing to do,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,is to lie and to cheat.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We are issuing 25 cent parking tickets\Non a meter that costs $100 an hour.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The smart thing to do is like,\N"job destruction!"
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Amazon only needs one person\Nfor two at Macy's.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,If they grow their business\N20 billion dollars this year,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,which they will,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we will lose 53,000 cashiers and clerks.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This is nothing unusual,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,this has happened all through our economy,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we've just never seen\Ncompanies this good at it.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,That's one Yankee stadium of workers.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's even worse in media.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Facebook and Google grow their business\N22 billion dollars this year,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,which they will,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we're going to lose approximately\N150,000 creative directors,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,planners and copywriters.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Or we can fill up two-and-a-half\NYankee stadiums
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and say, "You are out of work\Ncourtesy of Amazon."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We now get the majority of our news\Nfrom our social media feeds,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and the majority of our news\Ncoming off of social media feeds
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,is fake news.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I am not allowed to be politcal\Nor use curse words,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or talk about religion in class,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,so I can definitely not say,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,"Zuckerberg has become Putin's bitch."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Definitely cannot say that.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Their defense:
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,"Facebook is not a media company,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it's a technology company."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,You create original content,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you pay sports leagues\Nto give you original content,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you run advertising against it --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,boom, you're a media company.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Just in the last few days,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Sheryl Sandberg has repeated this lie,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that "we are not a media company."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Facebook has openly embraced\Nthe margins of celebrity
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and the influence of a media company,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,yet seems to be allergic\Nto the responsibilities
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of a media company.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Imagine McDonald's.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We find 80 percent of their beef is fake,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and its giving us [insephalitis],
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and we're making terrible decisions.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And we say, "McDonald's,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we're pissed off."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And they say, "Wait,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we're not a fast-food restaurant,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we're a fast-food platform."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,These companies and CEOs wrap themselves\Nin a neon-blue pink rainbow
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and blue blanket to create\Nand illusionist trick.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,From their behavior each day,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,which is more indicative\Nof the spawn of Darth Vader and Ayn Rand.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Why?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Because we as progressives\Nare seen as nice but weak.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,If Sheryl Sandberg had written\Na book on gun rights,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or on the pro-life movement,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,would they be flying Sheryl to Cannes?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,No.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I'm not doubting\Ntheir progressive values,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but it foots to shareholder value,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,because we as progressives\Nare seen as weak.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They're so nice --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,remember Microsoft?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They didn't seem as nice,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and regulators stepped in much earlier\Nthan the regulators now
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,who would never step in\Non those nice, nice people.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I'm about to get on a plane tonight,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and I'm going to have a guy\Nnamed Roy from TSA molest me.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,if I am suspected\Nof a DUI on the way home,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I can have blood taken from my person.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But wait, don't tap into the iPhone,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it's sacred.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This is our new cross.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It shouldn't be the iPhone X,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it should be the iPhone cross.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We have our religion;
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it's Apple.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Our Jesus Christ is Steve Jobs,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and we've decided this is holier\Nthan our person, our house
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or our computer.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We have become totally out of control\Nwith the gross idolatry of innovation
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and of youth.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We no longer worship\Nat the altar of character,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of kindess,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but of innovation and people\Nwho create shareholder value.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Amazon has become so powerful\Nin the marketplace
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it can conduct Jedi mind tricks.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It can begin damaging other\Nindustries just by looking at it.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Nike announces they're\Ndistributing on Amazon,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,their stock goes up,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,every other footwear stock goes down.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,When Amazon stock goes up\Nthe rest of retail stocks go down
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,because they assume what's good\Nfor Amazon is bad for everybody else.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They cut the cost on salmon 33 percent\Nwhen they acquired Whole Foods.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Between the time they announced\Nthe acquisition of Whole Foods
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and when it closed,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,[Kroger,] the largest [pure play]\Ngrocer in America
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,shed one-third of its value
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,because Amazon purchased a grocer\None-eleventh the size of Kroger.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I got very lucky.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I predicted the acquisition\Nof Whole Foods by Amazon
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the week before it happened.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This is me boasting.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I said this publicly in the media
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that this was the largest\Nacquisition in their history,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,they'd never made an acquisition\Nover one billion,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and people asked, "How did you know this?"
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,So I'm letting this very impressive\Naudience in on the secret.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,How did I know this?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I'm going to tell you how I knew.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I bark at Alexa all day long
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and try to figure out what's going on.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Alexa, buy whole milk.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Alexa} I couldn't find\Nanything for whole milk,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,so I've added whole milk\Nto your shopping list.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Then I asked,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,"Alexa, buy organic foods."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Alexa) The top search result\Nfor organic food
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,is Plum Organic's baby food,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,banana and pumpkin.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,12 pack of four ounces each.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's 15 dollars total.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Would you like to buy it?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Scott) And then, as often\Nhappens at my age,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I got confused.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,"Alexa, buy whole foods."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Alexa) I have purchased the outstanding\Nstock of Whole Foods Incorporated
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,at 42 dollars per share.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I have charged 13.7 billion\Nto your American Express card.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I thought that'd be funnier.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We've personified these companies,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and just as when you're really angry\Nover every little thing someone does
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in your life and relationships,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you've got to ask yourself,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,"What's going on here?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Why are we so disappointed in technology?"
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I believe it's because the ratio
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of one percent per suit\Nof shareholder value
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and 99 percent the betterment of humanity
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that techonolgy used to play
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,has been flipped,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and now we're totally focused\Non shareholder value
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,instead of humanity.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,100,000 people came together\Nfor the Manhattan Project
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and literally saved the world.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Technology saved the world.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,My mother was a four-year-old Jew\Nliving in London at the outset of the war.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,If we had not formed the footrace\Ntowards splitting the atom,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,would she have survived?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's unlikely.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,25 years later,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the most impressive\Naccomplishment arguably
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,ever in all of humankind,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,put a man on the moon.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,430,000 Canadians, Britsh\Nand Americans came together
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,again with very basic technology
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and put a man on the moon.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Now we have the 700,000\Nbest and brightest,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and these are the best and brightest\Nfrom the four corners of the earth.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They are literally playing with lasers\Nrelative to the slingshots,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,relative to the squirt gun.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They have the GDP of India to work at.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And after studying\Nthese companies for 10 years,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I know what their mission is.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Is it to organize the world's information?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Is it to connect us?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Is it to create greater commonty of man?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It isn't.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I know why we have brought together --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I know that the greatest collection\Nof IQ capital and creativity
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that their soul mission is\Nto tell another fucking Nissan.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,My name is Scott Galloway,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I teach at NYU
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and I appreciate your time.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Applause)
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Chris Anderson: Not planned,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but you prompted\Nsome questions in me, Scott.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,That was a spectacular rant.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,SG: Is this like Letterman
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,when you do well,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,he calls you onto the couch?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: No, no, you're going to the heart\Nof the conversation right now.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Everyone's aware that after years\Nof worshipping Silicon Valley,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,suddenly the worm has turned,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and in such a big way.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,To some people here,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,it will just feel like you're piling on,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you're kicking the kids who've\Nalready been kicked to pieces anyway.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Don't you feel any empathy\Nfor them at all?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CG: None whatsoever.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Look, this is the issue.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,It's not their fault, it's our fault.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They're for-profit companies.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They're not concerned\Nwith the condition of our souls.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They're not going to take care\Nof us when we get older.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We have set up a society that values\Nshareholder value over everything,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and they're doing what they're\Nsupposed to be doing,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but we need to elect people,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and we need to force ourselves\Nto forece them to be subject
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to the same scrutiny that the rest\Nof business endures full-stop.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: There's another narrative
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that is arguably equally\Nconsistent with the facts,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,which is that there actually is good\Nintent in much of the leadership --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I won't say everyone necessarily --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,many of the employees.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We all know people who work\Nin those companies,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and they still are pretty convincing
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that their mission is to do --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,so the alternative narrative
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,is there have been\Nunintended consequences here,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that the technologies\Nthat we're unleashing,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the algorithms that we're attempting\Nto personalize the internet,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,for example,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,have a) resulted in weird effects\Nthat filter bubbles
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that we weren't expecting,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and b) made themselves vulberable\Nto weird things like --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,oh, I don't know,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Russian hackers creating accounts
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and doing things that we didn't expect.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Isn't the unintended consequence\Na possibility here?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,SG: I don't think --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,so I'm pretty sure statistically
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,they're no less or better people\Nthan any other organization
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that has 100,000 or more poeple.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I don't think they're bad people.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,As a matter of fact,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I would argue that there's a lot\Nof very civic-minded, decent leadership,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but this is the issue.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,When you control\N90 percent points of share
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in a market search
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that is now bigger than the entire\Nadvertising market of any nation,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and you're primarily compensated\Nand trying to develop economic security
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,for you and the families\Nof your employees,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to increase that market share,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you can't help but leverage\Nall the power at your disposal.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And that is the basis for regulation,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and it's the basis for [truism]\Nthroughout history
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that power corrupts.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They're not bad people,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we've just let them get out of control.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: So maybe the case\Nis slightly overstated?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I know at least a bit --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Larry Page for example,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Jeff Bezos --
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I don't actually think\Nthey wake up thinking,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,"I've got to sell a fucking Nissan."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I don't think they think that.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I think they are trying to build\Nsomething cool,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and I probbaly,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in moments of reflection,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,as horrified that some of the things\Nthat have happened,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,as we might be,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,so is there a different way\Nof framing this?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,To say that when you're model\Nis advertising that there are dangers
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that you have to take on more explicitly?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,SG: I think it's very difficult\Nto set an organization up
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,as we do,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to pursue shareholder value\Nabove all else.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,They're not non-profits.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The reason people go to work there\Nis they want to create economic security
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,for their familes,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,mostly first and foremost.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And when you get to a point
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,where you control so much\Neconomic power,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you use all the weapons at your disposal.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I don't think they're bad people,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but I think the role of government\Nand the role of us as consumers
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and people who elect our officials,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,is to ensure that there\Nare some checks here.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And we have given\Nthem the mother of all hall passes
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,because we find them just so fascinating.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: Scott, eloquently put,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,spectactularly put.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Mark Zuckerberg, Jeff Bezos,\NLarry Page, Tim Cook,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,if you're watching,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you're welcome to come and make\Nthe counter argument as well.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,CA: Scott, thank you so much.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,SG: Thanks very much.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,(Applause)