[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:05.06,0:00:09.51,Default,,0000,0000,0000,,So this is the first and the last slide\Neach of my 6400 students
Dialogue: 0,0:00:09.51,0:00:12.24,Default,,0000,0000,0000,,for the last 15 years have seen.
Dialogue: 0,0:00:12.24,0:00:15.88,Default,,0000,0000,0000,,I do no believe you can build\Na multibillion dollar organization
Dialogue: 0,0:00:15.88,0:00:20.94,Default,,0000,0000,0000,,unless you are clear on which instinct\Nor organ you are targeting.
Dialogue: 0,0:00:21.52,0:00:24.51,Default,,0000,0000,0000,,Our species has a need for a superbeing.
Dialogue: 0,0:00:24.51,0:00:27.56,Default,,0000,0000,0000,,Our competitive advantage\Nas a species is our brain,
Dialogue: 0,0:00:27.56,0:00:30.71,Default,,0000,0000,0000,,our brain in robust enough to ask\Nthese really difficult questions,
Dialogue: 0,0:00:30.71,0:00:34.08,Default,,0000,0000,0000,,but unfortunately it doesn't have\Nthe processesing power to answer them,
Dialogue: 0,0:00:34.08,0:00:37.81,Default,,0000,0000,0000,,which creates a need for a superbeing\Nthat we can pray to
Dialogue: 0,0:00:37.81,0:00:39.02,Default,,0000,0000,0000,,and look to for answers.
Dialogue: 0,0:00:39.02,0:00:40.10,Default,,0000,0000,0000,,What is prayer?
Dialogue: 0,0:00:40.33,0:00:42.63,Default,,0000,0000,0000,,Sending a query into the universe,
Dialogue: 0,0:00:42.63,0:00:45.22,Default,,0000,0000,0000,,and hopefully there's some sort of\Ndivine intervention.
Dialogue: 0,0:00:45.22,0:00:47.25,Default,,0000,0000,0000,,We don't need to understand\Nwhat's going on
Dialogue: 0,0:00:47.25,0:00:50.01,Default,,0000,0000,0000,,from an all-knowing, all-seeing superbeing
Dialogue: 0,0:00:50.01,0:00:53.44,Default,,0000,0000,0000,,that gives us authority\Nthat this is the right answer.
Dialogue: 0,0:00:53.80,0:00:56.40,Default,,0000,0000,0000,,Will my kid be all right?
Dialogue: 0,0:00:56.53,0:00:58.32,Default,,0000,0000,0000,,You have your planet of stuff,
Dialogue: 0,0:00:58.32,0:00:59.99,Default,,0000,0000,0000,,you have your planet of work,
Dialogue: 0,0:00:59.99,0:01:01.82,Default,,0000,0000,0000,,you have your planet of friends.
Dialogue: 0,0:01:01.82,0:01:03.34,Default,,0000,0000,0000,,If you have kids,
Dialogue: 0,0:01:03.34,0:01:06.45,Default,,0000,0000,0000,,you know that once something\Ncomes off the rails with your kids,
Dialogue: 0,0:01:06.45,0:01:08.00,Default,,0000,0000,0000,,everything melts,
Dialogue: 0,0:01:08.00,0:01:10.66,Default,,0000,0000,0000,,and your universe,\Nto the summit, is your kids.
Dialogue: 0,0:01:10.66,0:01:13.51,Default,,0000,0000,0000,,Will my kid be all right?
Dialogue: 0,0:01:13.51,0:01:17.27,Default,,0000,0000,0000,,Symptoms and treatment of croup\Nin the Google query box.
Dialogue: 0,0:01:17.53,0:01:21.58,Default,,0000,0000,0000,,One in six queries presented to Google\Nhave never been asked before
Dialogue: 0,0:01:21.58,0:01:22.96,Default,,0000,0000,0000,,in the history of mankind.
Dialogue: 0,0:01:22.96,0:01:26.27,Default,,0000,0000,0000,,What priest, teacher, rabbi,\Nscholar, mentor, boss
Dialogue: 0,0:01:26.27,0:01:28.32,Default,,0000,0000,0000,,has so much credibility
Dialogue: 0,0:01:28.32,0:01:30.89,Default,,0000,0000,0000,,that one in six questions\Nposed to that person
Dialogue: 0,0:01:30.89,0:01:32.55,Default,,0000,0000,0000,,have never been asked before?
Dialogue: 0,0:01:32.75,0:01:35.95,Default,,0000,0000,0000,,Google is our modern man's God.
Dialogue: 0,0:01:35.95,0:01:40.28,Default,,0000,0000,0000,,Imagine your face and your name\Nabove everything you've put into that box,
Dialogue: 0,0:01:40.28,0:01:44.53,Default,,0000,0000,0000,,and you're going to realize you trust\NGoogle more than any entitity
Dialogue: 0,0:01:44.53,0:01:45.95,Default,,0000,0000,0000,,in your history.
Dialogue: 0,0:01:46.33,0:01:48.18,Default,,0000,0000,0000,,Let's move further down the torso.
Dialogue: 0,0:01:48.74,0:01:50.18,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:01:50.63,0:01:53.06,Default,,0000,0000,0000,,One of the other wonderful things\Nabout our species
Dialogue: 0,0:01:53.06,0:01:56.26,Default,,0000,0000,0000,,is we not only need to be loved\Nbut we need to love others.
Dialogue: 0,0:01:56.58,0:01:59.56,Default,,0000,0000,0000,,Children with poor nutrition\Nbut a lot of affection
Dialogue: 0,0:01:59.56,0:02:04.15,Default,,0000,0000,0000,,have better outcomes than children\Nwith good nutrition and poor affection.
Dialogue: 0,0:02:04.52,0:02:07.97,Default,,0000,0000,0000,,However, the best signal\Nthat you might make it
Dialogue: 0,0:02:07.97,0:02:12.05,Default,,0000,0000,0000,,to be part of the number-one fastest\Ngrowing demographic in the world --
Dialogue: 0,0:02:12.05,0:02:13.05,Default,,0000,0000,0000,,centenarians,
Dialogue: 0,0:02:13.05,0:02:14.78,Default,,0000,0000,0000,,people who live to triple digits --
Dialogue: 0,0:02:14.78,0:02:15.94,Default,,0000,0000,0000,,their are three signals.
Dialogue: 0,0:02:15.94,0:02:16.94,Default,,0000,0000,0000,,In reverse order,
Dialogue: 0,0:02:16.94,0:02:17.94,Default,,0000,0000,0000,,your genetics --
Dialogue: 0,0:02:17.94,0:02:19.87,Default,,0000,0000,0000,,not as important as you'd like to think.
Dialogue: 0,0:02:19.87,0:02:22.17,Default,,0000,0000,0000,,So you can continue to treat\Nyour body like shit
Dialogue: 0,0:02:22.17,0:02:24.18,Default,,0000,0000,0000,,and think that, "Oh,\NUncle Joe lived to 95,
Dialogue: 0,0:02:24.18,0:02:25.34,Default,,0000,0000,0000,,the die have been cast."
Dialogue: 0,0:02:25.34,0:02:27.02,Default,,0000,0000,0000,,It's less important than you think.
Dialogue: 0,0:02:27.02,0:02:28.17,Default,,0000,0000,0000,,Number two is lifestyle.
Dialogue: 0,0:02:28.17,0:02:30.73,Default,,0000,0000,0000,,Don't smoke, don't be obese, prescreen --
Dialogue: 0,0:02:30.73,0:02:33.68,Default,,0000,0000,0000,,get rid of about two-thirds\Nof early cancers
Dialogue: 0,0:02:33.68,0:02:35.06,Default,,0000,0000,0000,,and cardiovascular disease.
Dialogue: 0,0:02:35.21,0:02:38.94,Default,,0000,0000,0000,,The number one indicator or signal\Nthat you'll make it to triple digits:
Dialogue: 0,0:02:38.94,0:02:42.08,Default,,0000,0000,0000,,how many people do you love?
Dialogue: 0,0:02:42.70,0:02:45.55,Default,,0000,0000,0000,,Caretaking is the security camera --
Dialogue: 0,0:02:45.55,0:02:48.50,Default,,0000,0000,0000,,we call the low-resolution\Nsecurity camera in our brain,
Dialogue: 0,0:02:48.50,0:02:50.70,Default,,0000,0000,0000,,deciding whether or not\Nyou are adding value.
Dialogue: 0,0:02:50.70,0:02:54.43,Default,,0000,0000,0000,,Facebook taps into our instinctive need\Nnot only to be loved,
Dialogue: 0,0:02:54.43,0:02:55.62,Default,,0000,0000,0000,,but to love others,
Dialogue: 0,0:02:55.62,0:02:57.67,Default,,0000,0000,0000,,mostly through pictures\Nthat create empathy,
Dialogue: 0,0:02:57.67,0:03:00.22,Default,,0000,0000,0000,,catalyze and reinforce our relationships.
Dialogue: 0,0:03:00.22,0:03:03.12,Default,,0000,0000,0000,,Let's continue our journey down the torso.
Dialogue: 0,0:03:03.83,0:03:05.87,Default,,0000,0000,0000,,Amazon is our consumptive gut.
Dialogue: 0,0:03:06.28,0:03:09.30,Default,,0000,0000,0000,,The instinct of more is hardwired into us.
Dialogue: 0,0:03:09.90,0:03:13.40,Default,,0000,0000,0000,,The penalty for too little\Nis starvation and malnurtition.
Dialogue: 0,0:03:13.83,0:03:14.98,Default,,0000,0000,0000,,Open your cupboards,
Dialogue: 0,0:03:14.98,0:03:16.15,Default,,0000,0000,0000,,open your closets,
Dialogue: 0,0:03:16.15,0:03:19.57,Default,,0000,0000,0000,,you have 10 to 100 x times\Nwhat you need.
Dialogue: 0,0:03:19.57,0:03:20.57,Default,,0000,0000,0000,,Why?
Dialogue: 0,0:03:20.57,0:03:22.55,Default,,0000,0000,0000,,Because the penalty for too little
Dialogue: 0,0:03:22.55,0:03:24.96,Default,,0000,0000,0000,,is much greater than\Nthe penalty for too much.
Dialogue: 0,0:03:25.31,0:03:28.100,Default,,0000,0000,0000,,So more for less is a business strategy\Nthat never goes out of style.
Dialogue: 0,0:03:29.17,0:03:30.80,Default,,0000,0000,0000,,It's the strategy of China,
Dialogue: 0,0:03:30.80,0:03:32.34,Default,,0000,0000,0000,,it's a the strategy of Wal-Mart,
Dialogue: 0,0:03:32.34,0:03:35.65,Default,,0000,0000,0000,,and now it's the strategy of the most\Nsuccessful company in the world,
Dialogue: 0,0:03:35.65,0:03:36.71,Default,,0000,0000,0000,,Amazon.
Dialogue: 0,0:03:36.71,0:03:39.08,Default,,0000,0000,0000,,You get more for less into your gut,
Dialogue: 0,0:03:39.08,0:03:40.08,Default,,0000,0000,0000,,digest,
Dialogue: 0,0:03:40.08,0:03:42.91,Default,,0000,0000,0000,,send it to your muscular\Nand skeletal system of consumption.
Dialogue: 0,0:03:42.91,0:03:44.59,Default,,0000,0000,0000,,Moving further,
Dialogue: 0,0:03:44.59,0:03:47.06,Default,,0000,0000,0000,,once we know we will survive --
Dialogue: 0,0:03:47.06,0:03:48.12,Default,,0000,0000,0000,,the basic instinct --
Dialogue: 0,0:03:48.12,0:03:50.68,Default,,0000,0000,0000,,we move to the second\Nmost powerful instinct,
Dialogue: 0,0:03:50.68,0:03:52.55,Default,,0000,0000,0000,,and that is to spread and select
Dialogue: 0,0:03:52.55,0:03:55.49,Default,,0000,0000,0000,,the strongest, smartest\Nand fastest seed
Dialogue: 0,0:03:55.49,0:03:57.24,Default,,0000,0000,0000,,to the four corners of the earth,
Dialogue: 0,0:03:57.24,0:03:59.39,Default,,0000,0000,0000,,or pick the best seed.
Dialogue: 0,0:03:59.60,0:04:01.35,Default,,0000,0000,0000,,This is not a timepiece.
Dialogue: 0,0:04:01.35,0:04:03.19,Default,,0000,0000,0000,,I haven't wound it in five years.
Dialogue: 0,0:04:03.46,0:04:06.82,Default,,0000,0000,0000,,It's my vain attempt to say to people\Nif you mate with me,
Dialogue: 0,0:04:06.82,0:04:08.79,Default,,0000,0000,0000,,your children are more likely to survive
Dialogue: 0,0:04:08.79,0:04:11.38,Default,,0000,0000,0000,,than if you mate with somebody\Nwearing a Swatch watch.
Dialogue: 0,0:04:11.38,0:04:12.55,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:04:13.07,0:04:17.20,Default,,0000,0000,0000,,The key to business is tapping into\Nthe irrational organs.
Dialogue: 0,0:04:17.49,0:04:21.12,Default,,0000,0000,0000,,Irrational is Harvard Business School's\Nand New York Business School's term
Dialogue: 0,0:04:21.12,0:04:23.26,Default,,0000,0000,0000,,for fat profit margins
Dialogue: 0,0:04:23.26,0:04:24.50,Default,,0000,0000,0000,,and shareholder value.
Dialogue: 0,0:04:24.79,0:04:27.54,Default,,0000,0000,0000,,"High caloric [paste] for your children,"
Dialogue: 0,0:04:27.54,0:04:28.54,Default,,0000,0000,0000,,no?
Dialogue: 0,0:04:28.54,0:04:30.82,Default,,0000,0000,0000,,You love your choosy mom.
Dialogue: 0,0:04:30.82,0:04:32.88,Default,,0000,0000,0000,,Why choosy moms choose JIF:
Dialogue: 0,0:04:32.88,0:04:34.13,Default,,0000,0000,0000,,you love your kids more.
Dialogue: 0,0:04:34.13,0:04:37.17,Default,,0000,0000,0000,,The greatest algorithm for shareholder\Ncreation from World War II
Dialogue: 0,0:04:37.17,0:04:38.53,Default,,0000,0000,0000,,to the advent of Google
Dialogue: 0,0:04:38.53,0:04:41.58,Default,,0000,0000,0000,,was taking an average product\Nand appealing to people's hearts.
Dialogue: 0,0:04:41.72,0:04:42.78,Default,,0000,0000,0000,,You're a better a mom,
Dialogue: 0,0:04:42.78,0:04:43.78,Default,,0000,0000,0000,,a better person,
Dialogue: 0,0:04:43.78,0:04:44.100,Default,,0000,0000,0000,,a better patriot
Dialogue: 0,0:04:44.100,0:04:47.98,Default,,0000,0000,0000,,if you buy this average soap\Nversus this average soap.
Dialogue: 0,0:04:48.34,0:04:51.77,Default,,0000,0000,0000,,Now the number one algorithm\Nfor shareholder value isn't technology.
Dialogue: 0,0:04:51.77,0:04:53.12,Default,,0000,0000,0000,,Look at the Forbes 400,
Dialogue: 0,0:04:53.12,0:04:54.45,Default,,0000,0000,0000,,take out inherited wealth,
Dialogue: 0,0:04:54.45,0:04:55.48,Default,,0000,0000,0000,,take out finance,
Dialogue: 0,0:04:55.48,0:04:57.80,Default,,0000,0000,0000,,the number one source of wealth creation:
Dialogue: 0,0:04:57.80,0:04:59.85,Default,,0000,0000,0000,,appealing to your reproductive organs.
Dialogue: 0,0:04:59.85,0:05:00.85,Default,,0000,0000,0000,,The Lauders;
Dialogue: 0,0:05:00.85,0:05:03.56,Default,,0000,0000,0000,,the number one\Nwealthiest man in Europe --
Dialogue: 0,0:05:03.56,0:05:04.76,Default,,0000,0000,0000,,LVMH.
Dialogue: 0,0:05:04.76,0:05:05.88,Default,,0000,0000,0000,,Numbers two and three:
Dialogue: 0,0:05:05.88,0:05:07.36,Default,,0000,0000,0000,,H&M and Inditex.
Dialogue: 0,0:05:07.36,0:05:12.54,Default,,0000,0000,0000,,You want to target the most\Nirrational organs for shareholder value.
Dialogue: 0,0:05:13.40,0:05:14.40,Default,,0000,0000,0000,,As a result,
Dialogue: 0,0:05:14.40,0:05:15.56,Default,,0000,0000,0000,,these four companies --
Dialogue: 0,0:05:15.56,0:05:18.75,Default,,0000,0000,0000,,Apple, Amazon, Facebook and Google\Nhave disarticulated who we are.
Dialogue: 0,0:05:18.89,0:05:21.07,Default,,0000,0000,0000,,God love consumption sex.
Dialogue: 0,0:05:21.29,0:05:24.97,Default,,0000,0000,0000,,The proportion in your approach\Nto those things is who you are,
Dialogue: 0,0:05:24.97,0:05:28.66,Default,,0000,0000,0000,,and they have reassembeled who we are\Nin the form of for-profit companies
Dialogue: 0,0:05:28.66,0:05:30.28,Default,,0000,0000,0000,,at the end of the Great Recession,
Dialogue: 0,0:05:30.28,0:05:32.32,Default,,0000,0000,0000,,the market capitalization\Nof these companies
Dialogue: 0,0:05:32.32,0:05:34.52,Default,,0000,0000,0000,,was equivalent to the GDP of Niger,
Dialogue: 0,0:05:34.52,0:05:37.24,Default,,0000,0000,0000,,now it is equivalent to the GDP of India,
Dialogue: 0,0:05:37.24,0:05:39.42,Default,,0000,0000,0000,,having blown past Russia and Canada
Dialogue: 0,0:05:39.42,0:05:40.79,Default,,0000,0000,0000,,in '13 and '14.
Dialogue: 0,0:05:40.79,0:05:42.11,Default,,0000,0000,0000,,There are only five nations
Dialogue: 0,0:05:42.11,0:05:46.100,Default,,0000,0000,0000,,that have a GDP greater than the combined\Ncapitalization of these four firms.
Dialogue: 0,0:05:47.35,0:05:49.49,Default,,0000,0000,0000,,Something is happening though.
Dialogue: 0,0:05:50.07,0:05:54.34,Default,,0000,0000,0000,,The conversation just a year ago\Nwas which CEO was more Jesus-like,
Dialogue: 0,0:05:54.34,0:05:56.95,Default,,0000,0000,0000,,who was running for president?
Dialogue: 0,0:05:56.95,0:05:58.35,Default,,0000,0000,0000,,Now the worm has turned.
Dialogue: 0,0:05:58.35,0:06:00.32,Default,,0000,0000,0000,,Everything they're doing is bothering us.
Dialogue: 0,0:06:00.49,0:06:02.19,Default,,0000,0000,0000,,We're worried they're tax avoiders.
Dialogue: 0,0:06:02.47,0:06:05.82,Default,,0000,0000,0000,,Wal-mart, since the Great Recession,\Nhas paid 64 billion dollars
Dialogue: 0,0:06:05.82,0:06:07.43,Default,,0000,0000,0000,,in corporate income tax;
Dialogue: 0,0:06:07.43,0:06:09.43,Default,,0000,0000,0000,,Amazon has paid 1.4.
Dialogue: 0,0:06:09.79,0:06:13.39,Default,,0000,0000,0000,,How do we pay our firefighters,\Nour soldiers and our social workers
Dialogue: 0,0:06:13.39,0:06:16.90,Default,,0000,0000,0000,,if the most successful companies\Nin the world don't pay their fair share?
Dialogue: 0,0:06:16.90,0:06:17.91,Default,,0000,0000,0000,,Pretty easy.
Dialogue: 0,0:06:17.91,0:06:21.68,Default,,0000,0000,0000,,That means the less successful companies\Nhave to pay more than their fair share.
Dialogue: 0,0:06:21.68,0:06:23.51,Default,,0000,0000,0000,,Alexa, is this a good thing?
Dialogue: 0,0:06:23.85,0:06:25.84,Default,,0000,0000,0000,,This is despite that fact --
Dialogue: 0,0:06:25.84,0:06:26.86,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:06:26.86,0:06:29.72,Default,,0000,0000,0000,,This is despite the fact
Dialogue: 0,0:06:29.72,0:06:33.80,Default,,0000,0000,0000,,that Amazon has added the entire\Nmarket capitalization of Wal-Mart
Dialogue: 0,0:06:33.80,0:06:37.79,Default,,0000,0000,0000,,to its market cap in the last 19 months.
Dialogue: 0,0:06:40.40,0:06:41.43,Default,,0000,0000,0000,,Whose fault is it?
Dialogue: 0,0:06:41.43,0:06:42.51,Default,,0000,0000,0000,,It's our fault.
Dialogue: 0,0:06:42.80,0:06:46.51,Default,,0000,0000,0000,,We're electing regulators\Nwho don't have the backbone
Dialogue: 0,0:06:46.51,0:06:48.65,Default,,0000,0000,0000,,to actually go after these companies.
Dialogue: 0,0:06:48.96,0:06:50.99,Default,,0000,0000,0000,,Facebook lies to EU regulators
Dialogue: 0,0:06:50.99,0:06:52.85,Default,,0000,0000,0000,,and says, "It would be impossible
Dialogue: 0,0:06:52.85,0:06:55.52,Default,,0000,0000,0000,,for us to share the data between\Nour core platform
Dialogue: 0,0:06:55.52,0:06:57.81,Default,,0000,0000,0000,,and our proposed acquisition of WhatsApp.
Dialogue: 0,0:06:57.81,0:06:59.32,Default,,0000,0000,0000,,Approve the merger."
Dialogue: 0,0:06:59.32,0:07:01.02,Default,,0000,0000,0000,,They approve the merger and then --
Dialogue: 0,0:07:01.02,0:07:02.02,Default,,0000,0000,0000,,spoiler alert --
Dialogue: 0,0:07:02.02,0:07:03.23,Default,,0000,0000,0000,,they figure it out.
Dialogue: 0,0:07:03.23,0:07:04.90,Default,,0000,0000,0000,,And the EU says, "I feel lied to,
Dialogue: 0,0:07:04.90,0:07:08.31,Default,,0000,0000,0000,,we're fining you 120 billion dollars,"
Dialogue: 0,0:07:08.31,0:07:12.27,Default,,0000,0000,0000,,about .6 percent of the acquisition price\Nof 19 billion dollars.
Dialogue: 0,0:07:12.57,0:07:15.20,Default,,0000,0000,0000,,If Mark Zuckerberg could\Ntake out an insurance policy
Dialogue: 0,0:07:15.20,0:07:18.05,Default,,0000,0000,0000,,that the acquisition would\Ngo through for .6 percent,
Dialogue: 0,0:07:18.05,0:07:19.19,Default,,0000,0000,0000,,wouldn't he do it?
Dialogue: 0,0:07:19.43,0:07:21.25,Default,,0000,0000,0000,,Anticompetitive behavior.
Dialogue: 0,0:07:21.62,0:07:23.65,Default,,0000,0000,0000,,A two-and-a-half billion dollar fine,
Dialogue: 0,0:07:23.65,0:07:26.56,Default,,0000,0000,0000,,three billion of the cash flow,
Dialogue: 0,0:07:26.56,0:07:29.48,Default,,0000,0000,0000,,three percent of the cash\Non Google's balance sheet.
Dialogue: 0,0:07:29.63,0:07:31.55,Default,,0000,0000,0000,,We are telling these companies
Dialogue: 0,0:07:31.55,0:07:33.69,Default,,0000,0000,0000,,the smart thing to do,
Dialogue: 0,0:07:33.69,0:07:35.68,Default,,0000,0000,0000,,the shareholder-driven thing to do,
Dialogue: 0,0:07:35.68,0:07:37.89,Default,,0000,0000,0000,,is to lie and to cheat.
Dialogue: 0,0:07:38.02,0:07:41.69,Default,,0000,0000,0000,,We are issuing ¢25 parking tickets
Dialogue: 0,0:07:41.69,0:07:44.89,Default,,0000,0000,0000,,on a meter that costs $100 an hour.
Dialogue: 0,0:07:44.89,0:07:47.62,Default,,0000,0000,0000,,The smart thing to do is like,\N"job destruction!"
Dialogue: 0,0:07:47.62,0:07:50.59,Default,,0000,0000,0000,,Amazon only needs one person\Nfor two at Macy's.
Dialogue: 0,0:07:50.83,0:07:53.50,Default,,0000,0000,0000,,If they grow their business\N20 billion dollars this year,
Dialogue: 0,0:07:53.50,0:07:54.50,Default,,0000,0000,0000,,which they will,
Dialogue: 0,0:07:54.50,0:07:56.71,Default,,0000,0000,0000,,we will lose 53,000 cashiers and clerks.
Dialogue: 0,0:07:56.71,0:07:57.91,Default,,0000,0000,0000,,This is nothing unusual;
Dialogue: 0,0:07:57.91,0:08:00.33,Default,,0000,0000,0000,,this has happened all through our economy,
Dialogue: 0,0:08:00.33,0:08:02.61,Default,,0000,0000,0000,,we've just never seen\Ncompanies this good at it.
Dialogue: 0,0:08:02.61,0:08:04.92,Default,,0000,0000,0000,,That's one Yankee Stadium of workers.
Dialogue: 0,0:08:04.92,0:08:06.15,Default,,0000,0000,0000,,It's even worse in media.
Dialogue: 0,0:08:06.31,0:08:09.80,Default,,0000,0000,0000,,Facebook and Google grow their businesses\N22 billion dollars this year --
Dialogue: 0,0:08:09.80,0:08:10.81,Default,,0000,0000,0000,,which they will --
Dialogue: 0,0:08:10.81,0:08:14.29,Default,,0000,0000,0000,,we're going to lose approximately\N150,000 creative directors,
Dialogue: 0,0:08:14.29,0:08:16.36,Default,,0000,0000,0000,,planners and copywriters.
Dialogue: 0,0:08:16.36,0:08:18.62,Default,,0000,0000,0000,,Or we can fill up two-and-a-half\NYankee Stadiums
Dialogue: 0,0:08:18.62,0:08:21.92,Default,,0000,0000,0000,,and say, "You are out of work\Ncourtesy of Amazon."
Dialogue: 0,0:08:22.04,0:08:25.42,Default,,0000,0000,0000,,We now get the majority of our news\Nfrom our social media feeds,
Dialogue: 0,0:08:25.42,0:08:29.61,Default,,0000,0000,0000,,and the majority of our news\Ncoming off of social media feeds is ...
Dialogue: 0,0:08:29.61,0:08:30.78,Default,,0000,0000,0000,,fake news.
Dialogue: 0,0:08:30.94,0:08:32.78,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:08:32.78,0:08:36.40,Default,,0000,0000,0000,,I am not allowed to be politcal\Nor use curse words,
Dialogue: 0,0:08:36.40,0:08:37.98,Default,,0000,0000,0000,,or talk about religion in class,
Dialogue: 0,0:08:37.98,0:08:41.52,Default,,0000,0000,0000,,so I can definitely not say ...
Dialogue: 0,0:08:41.52,0:08:44.06,Default,,0000,0000,0000,,"Zuckerberg has become Putin's bitch."
Dialogue: 0,0:08:44.06,0:08:46.13,Default,,0000,0000,0000,,I definitely cannot say that.
Dialogue: 0,0:08:46.31,0:08:47.31,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:08:47.31,0:08:48.48,Default,,0000,0000,0000,,Their defense:
Dialogue: 0,0:08:48.48,0:08:50.36,Default,,0000,0000,0000,,"Facebook is not a media company,
Dialogue: 0,0:08:50.36,0:08:51.73,Default,,0000,0000,0000,,it's a technology company."
Dialogue: 0,0:08:51.95,0:08:53.64,Default,,0000,0000,0000,,You create original content,
Dialogue: 0,0:08:53.64,0:08:56.56,Default,,0000,0000,0000,,you pay sports leagues\Nto give you original content,
Dialogue: 0,0:08:56.56,0:08:58.19,Default,,0000,0000,0000,,you run advertising against it --
Dialogue: 0,0:08:58.19,0:08:59.64,Default,,0000,0000,0000,,boom, you're a media company.
Dialogue: 0,0:08:59.64,0:09:01.25,Default,,0000,0000,0000,,Just in the last few days,
Dialogue: 0,0:09:01.25,0:09:04.24,Default,,0000,0000,0000,,Sheryl Sandberg has repeated this lie
Dialogue: 0,0:09:04.24,0:09:05.88,Default,,0000,0000,0000,,that "we are not a media company."
Dialogue: 0,0:09:05.88,0:09:09.36,Default,,0000,0000,0000,,Facebook has openly embraced\Nthe margins of celebrity
Dialogue: 0,0:09:09.36,0:09:11.75,Default,,0000,0000,0000,,and the influence of a media company,
Dialogue: 0,0:09:11.75,0:09:15.46,Default,,0000,0000,0000,,yet seems to be allergic\Nto the responsibilities
Dialogue: 0,0:09:15.46,0:09:16.76,Default,,0000,0000,0000,,of a media company.
Dialogue: 0,0:09:17.18,0:09:18.69,Default,,0000,0000,0000,,Imagine McDonald's.
Dialogue: 0,0:09:19.39,0:09:21.81,Default,,0000,0000,0000,,We find 80 percent of their beef is fake,
Dialogue: 0,0:09:21.81,0:09:23.39,Default,,0000,0000,0000,,and it's giving us encephalitis,
Dialogue: 0,0:09:23.39,0:09:25.32,Default,,0000,0000,0000,,and we're making terrible decisions.
Dialogue: 0,0:09:25.88,0:09:27.23,Default,,0000,0000,0000,,And we say, "McDonald's,
Dialogue: 0,0:09:27.23,0:09:28.65,Default,,0000,0000,0000,,we're pissed off."
Dialogue: 0,0:09:28.65,0:09:30.36,Default,,0000,0000,0000,,And they say, "Wait,
Dialogue: 0,0:09:30.36,0:09:31.61,Default,,0000,0000,0000,,wait,
Dialogue: 0,0:09:31.61,0:09:33.65,Default,,0000,0000,0000,,we're not a fast-food restaurant,
Dialogue: 0,0:09:33.65,0:09:35.75,Default,,0000,0000,0000,,we're a fast-food platform."
Dialogue: 0,0:09:35.90,0:09:37.68,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:09:38.31,0:09:40.62,Default,,0000,0000,0000,,These companies and CEOs wrap themselves
Dialogue: 0,0:09:40.62,0:09:44.55,Default,,0000,0000,0000,,in a neon-blue pink rainbow\Nand blue blanket
Dialogue: 0,0:09:44.55,0:09:46.47,Default,,0000,0000,0000,,to create an illusionist trick
Dialogue: 0,0:09:46.47,0:09:47.92,Default,,0000,0000,0000,,from their behavior each day,
Dialogue: 0,0:09:47.92,0:09:52.32,Default,,0000,0000,0000,,which is more indicative\Nof the spawn of Darth Vader and Ayn Rand.
Dialogue: 0,0:09:52.42,0:09:53.42,Default,,0000,0000,0000,,Why?
Dialogue: 0,0:09:53.42,0:09:56.64,Default,,0000,0000,0000,,Because we as progressives\Nare seen as nice but weak.
Dialogue: 0,0:09:57.11,0:10:00.49,Default,,0000,0000,0000,,If Sheryl Sandberg had written\Na book on gun rights,
Dialogue: 0,0:10:00.49,0:10:02.91,Default,,0000,0000,0000,,or on the pro-life movement,
Dialogue: 0,0:10:02.91,0:10:05.92,Default,,0000,0000,0000,,would they be flying Sheryl to Cannes?
Dialogue: 0,0:10:05.92,0:10:06.92,Default,,0000,0000,0000,,No.
Dialogue: 0,0:10:06.92,0:10:09.08,Default,,0000,0000,0000,,And I'm not doubting\Ntheir progressive values,
Dialogue: 0,0:10:09.08,0:10:11.44,Default,,0000,0000,0000,,but it foots to shareholder value,
Dialogue: 0,0:10:11.44,0:10:13.54,Default,,0000,0000,0000,,because we as progressives\Nare seen as weak.
Dialogue: 0,0:10:13.54,0:10:14.54,Default,,0000,0000,0000,,They're so nice --
Dialogue: 0,0:10:14.54,0:10:15.89,Default,,0000,0000,0000,,remember Microsoft?
Dialogue: 0,0:10:15.89,0:10:17.35,Default,,0000,0000,0000,,They didn't seem as nice,
Dialogue: 0,0:10:17.35,0:10:21.81,Default,,0000,0000,0000,,and regulators stepped in much earlier\Nthan the regulators now
Dialogue: 0,0:10:21.81,0:10:25.18,Default,,0000,0000,0000,,who would never step in\Non those nice, nice people.
Dialogue: 0,0:10:25.42,0:10:27.18,Default,,0000,0000,0000,,I'm about to get on a plane tonight,
Dialogue: 0,0:10:27.18,0:10:29.93,Default,,0000,0000,0000,,and I'm going to have a guy\Nnamed Roy from TSA molest me.
Dialogue: 0,0:10:29.93,0:10:33.27,Default,,0000,0000,0000,,If I am suspected\Nof a DUI on the way home,
Dialogue: 0,0:10:33.27,0:10:35.74,Default,,0000,0000,0000,,I can have blood taken from my person.
Dialogue: 0,0:10:36.55,0:10:39.81,Default,,0000,0000,0000,,But wait, don't tap into the iPhone;
Dialogue: 0,0:10:39.81,0:10:41.17,Default,,0000,0000,0000,,it's sacred.
Dialogue: 0,0:10:41.17,0:10:42.55,Default,,0000,0000,0000,,This is our new cross.
Dialogue: 0,0:10:42.55,0:10:44.29,Default,,0000,0000,0000,,It shouldn't be the iPhone X,
Dialogue: 0,0:10:44.29,0:10:46.21,Default,,0000,0000,0000,,it should be called the iPhone cross.
Dialogue: 0,0:10:46.21,0:10:47.40,Default,,0000,0000,0000,,We have our religion;
Dialogue: 0,0:10:47.40,0:10:48.40,Default,,0000,0000,0000,,it's Apple.
Dialogue: 0,0:10:48.40,0:10:50.33,Default,,0000,0000,0000,,Our Jesus Christ is Steve Jobs,
Dialogue: 0,0:10:50.33,0:10:53.50,Default,,0000,0000,0000,,and we've decided this is holier\Nthan our person, our house
Dialogue: 0,0:10:53.50,0:10:54.83,Default,,0000,0000,0000,,or our computer.
Dialogue: 0,0:10:54.83,0:10:57.28,Default,,0000,0000,0000,,We have become totally out of control
Dialogue: 0,0:10:57.28,0:11:00.98,Default,,0000,0000,0000,,with the gross idolatry\Nof innovation and of youth.
Dialogue: 0,0:11:01.19,0:11:03.68,Default,,0000,0000,0000,,We no longer worship\Nat the altar of character,
Dialogue: 0,0:11:03.68,0:11:04.78,Default,,0000,0000,0000,,of kindess,
Dialogue: 0,0:11:04.78,0:11:08.22,Default,,0000,0000,0000,,but of innovation and people\Nwho create shareholder value.
Dialogue: 0,0:11:08.46,0:11:11.38,Default,,0000,0000,0000,,Amazon has become so powerful\Nin the marketplace
Dialogue: 0,0:11:11.38,0:11:13.01,Default,,0000,0000,0000,,it can conduct Jedi mind tricks.
Dialogue: 0,0:11:13.01,0:11:15.98,Default,,0000,0000,0000,,It can begin damaging other\Nindustries just by looking at it.
Dialogue: 0,0:11:15.98,0:11:18.13,Default,,0000,0000,0000,,Nike announces they're\Ndistributing on Amazon,
Dialogue: 0,0:11:18.13,0:11:19.22,Default,,0000,0000,0000,,their stock goes up,
Dialogue: 0,0:11:19.22,0:11:21.07,Default,,0000,0000,0000,,every other footwear stock goes down.
Dialogue: 0,0:11:21.07,0:11:24.03,Default,,0000,0000,0000,,When Amazon stock goes up\Nthe rest of retail stocks go down
Dialogue: 0,0:11:24.03,0:11:27.28,Default,,0000,0000,0000,,because they assume what's good\Nfor Amazon is bad for everybody else.
Dialogue: 0,0:11:27.28,0:11:31.82,Default,,0000,0000,0000,,They cut the cost on salmon 33 percent\Nwhen they acquired Whole Foods.
Dialogue: 0,0:11:31.82,0:11:34.88,Default,,0000,0000,0000,,In between the time they announced\Nthe acquisition of Whole Foods
Dialogue: 0,0:11:34.88,0:11:35.88,Default,,0000,0000,0000,,and when it closed,
Dialogue: 0,0:11:35.88,0:11:38.26,Default,,0000,0000,0000,,Kroger, the largest\Npure-play grocer in America,
Dialogue: 0,0:11:38.26,0:11:40.14,Default,,0000,0000,0000,,shed one-third of its value
Dialogue: 0,0:11:40.14,0:11:46.52,Default,,0000,0000,0000,,because Amazon purchased a grocer\None-eleventh the size of Kroger.
Dialogue: 0,0:11:47.17,0:11:48.38,Default,,0000,0000,0000,,I got very lucky.
Dialogue: 0,0:11:48.52,0:11:51.94,Default,,0000,0000,0000,,I predicted the acquisition\Nof Whole Foods by Amazon
Dialogue: 0,0:11:51.94,0:11:53.31,Default,,0000,0000,0000,,the week before it happened.
Dialogue: 0,0:11:53.31,0:11:54.37,Default,,0000,0000,0000,,This is me boasting.
Dialogue: 0,0:11:54.37,0:11:55.99,Default,,0000,0000,0000,,I said this publicly in the media,
Dialogue: 0,0:11:55.99,0:11:58.32,Default,,0000,0000,0000,,this was the largest\Nacquisition in their history,
Dialogue: 0,0:11:58.32,0:12:00.70,Default,,0000,0000,0000,,they'd never made\Nan acquisition over one billion,
Dialogue: 0,0:12:00.70,0:12:02.73,Default,,0000,0000,0000,,and people asked, "How did you know this?"
Dialogue: 0,0:12:02.73,0:12:06.18,Default,,0000,0000,0000,,So I'm letting this very impressive\Naudience in on the secret.
Dialogue: 0,0:12:06.18,0:12:07.24,Default,,0000,0000,0000,,How did I know this?
Dialogue: 0,0:12:07.24,0:12:08.83,Default,,0000,0000,0000,,I'm going to tell you how I knew.
Dialogue: 0,0:12:09.33,0:12:12.08,Default,,0000,0000,0000,,I bark at Alexa all day long
Dialogue: 0,0:12:12.08,0:12:14.01,Default,,0000,0000,0000,,and try to figure out what's going on.
Dialogue: 0,0:12:14.01,0:12:17.08,Default,,0000,0000,0000,,"Alexa, buy whole milk."
Dialogue: 0,0:12:17.48,0:12:19.72,Default,,0000,0000,0000,,(Alexa) I couldn't find\Nanything for whole milk,
Dialogue: 0,0:12:19.72,0:12:21.97,Default,,0000,0000,0000,,so I've added whole milk\Nto your shopping list.
Dialogue: 0,0:12:22.53,0:12:23.82,Default,,0000,0000,0000,,SG: Then I asked,
Dialogue: 0,0:12:23.82,0:12:26.75,Default,,0000,0000,0000,,"Alexa, buy organic foods."
Dialogue: 0,0:12:26.94,0:12:29.08,Default,,0000,0000,0000,,(Alexa) The top search result\Nfor organic food
Dialogue: 0,0:12:29.08,0:12:30.83,Default,,0000,0000,0000,,is Plum Organic's baby food,
Dialogue: 0,0:12:30.83,0:12:32.24,Default,,0000,0000,0000,,banana and pumpkin.
Dialogue: 0,0:12:32.24,0:12:34.14,Default,,0000,0000,0000,,12 pack of four ounces each.
Dialogue: 0,0:12:34.14,0:12:35.77,Default,,0000,0000,0000,,It's 15 dollars total.
Dialogue: 0,0:12:36.43,0:12:37.63,Default,,0000,0000,0000,,Would you like to buy it?
Dialogue: 0,0:12:37.63,0:12:39.56,Default,,0000,0000,0000,,SG: And then, as often\Nhappens at my age,
Dialogue: 0,0:12:39.56,0:12:40.56,Default,,0000,0000,0000,,I got confused.
Dialogue: 0,0:12:40.74,0:12:43.53,Default,,0000,0000,0000,,"Alexa, buy Whole Foods."
Dialogue: 0,0:12:44.05,0:12:47.61,Default,,0000,0000,0000,,(Alexa) I have purchased the outstanding\Nstock of Whole Foods Incorporated
Dialogue: 0,0:12:47.61,0:12:49.42,Default,,0000,0000,0000,,at 42 dollars per share.
Dialogue: 0,0:12:49.42,0:12:53.09,Default,,0000,0000,0000,,I have charged 13.7 billion\Nto your American Express card.
Dialogue: 0,0:12:53.48,0:12:54.86,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:12:55.96,0:12:57.34,Default,,0000,0000,0000,,I thought that'd be funnier.
Dialogue: 0,0:12:57.52,0:12:58.77,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:12:59.09,0:13:00.86,Default,,0000,0000,0000,,We've personified these companies,
Dialogue: 0,0:13:00.86,0:13:04.28,Default,,0000,0000,0000,,and just as when you're really angry\Nover every little thing someone does
Dialogue: 0,0:13:04.28,0:13:05.77,Default,,0000,0000,0000,,in your life and relationships,
Dialogue: 0,0:13:05.77,0:13:07.05,Default,,0000,0000,0000,,you've got to ask yourself,
Dialogue: 0,0:13:07.05,0:13:08.10,Default,,0000,0000,0000,,"What's going on here?
Dialogue: 0,0:13:08.10,0:13:10.11,Default,,0000,0000,0000,,Why are we so disappointed in technology?"
Dialogue: 0,0:13:10.11,0:13:12.87,Default,,0000,0000,0000,,And I believe it's because\Nthe ratio of one-percent pursuit
Dialogue: 0,0:13:12.87,0:13:14.02,Default,,0000,0000,0000,,of shareholder value
Dialogue: 0,0:13:14.02,0:13:16.58,Default,,0000,0000,0000,,and 99 percent the betterment of humanity
Dialogue: 0,0:13:16.58,0:13:17.99,Default,,0000,0000,0000,,that technology used to play
Dialogue: 0,0:13:17.99,0:13:19.07,Default,,0000,0000,0000,,has been flipped,
Dialogue: 0,0:13:19.07,0:13:21.41,Default,,0000,0000,0000,,and now we're totally focused\Non shareholder value
Dialogue: 0,0:13:21.41,0:13:22.43,Default,,0000,0000,0000,,instead of humanity.
Dialogue: 0,0:13:22.43,0:13:24.96,Default,,0000,0000,0000,,100,000 people came together\Nfor the Manhattan Project
Dialogue: 0,0:13:24.96,0:13:26.42,Default,,0000,0000,0000,,and literally saved the world.
Dialogue: 0,0:13:26.42,0:13:27.72,Default,,0000,0000,0000,,Technology saved the world.
Dialogue: 0,0:13:27.72,0:13:31.59,Default,,0000,0000,0000,,My mother was a four-year-old Jew\Nliving in London at the outset of the war.
Dialogue: 0,0:13:31.92,0:13:35.34,Default,,0000,0000,0000,,If we had not formed the footrace\Ntowards splitting the atom,
Dialogue: 0,0:13:35.34,0:13:37.31,Default,,0000,0000,0000,,would she have survived?
Dialogue: 0,0:13:37.31,0:13:38.47,Default,,0000,0000,0000,,It's unlikely.
Dialogue: 0,0:13:38.85,0:13:40.18,Default,,0000,0000,0000,,25 years later,
Dialogue: 0,0:13:40.18,0:13:41.85,Default,,0000,0000,0000,,the most impressive accomplishment,\N
Dialogue: 0,0:13:41.85,0:13:44.61,Default,,0000,0000,0000,,arguably ever in all of humankind --
Dialogue: 0,0:13:44.61,0:13:45.75,Default,,0000,0000,0000,,put a man on the moon.
Dialogue: 0,0:13:45.75,0:13:48.95,Default,,0000,0000,0000,,430,000 Canadians, Britsh\Nand Americans came together,
Dialogue: 0,0:13:48.95,0:13:51.32,Default,,0000,0000,0000,,again with very basic technology,
Dialogue: 0,0:13:51.32,0:13:52.66,Default,,0000,0000,0000,,and put a man on the moon.
Dialogue: 0,0:13:52.66,0:13:56.29,Default,,0000,0000,0000,,Now we have the 700,000\Nbest and brightest,
Dialogue: 0,0:13:56.29,0:13:59.68,Default,,0000,0000,0000,,and these are the best and brightest\Nfrom the four corners of the earth.
Dialogue: 0,0:13:59.68,0:14:04.05,Default,,0000,0000,0000,,They are literally playing with lasers\Nrelative to slingshots,
Dialogue: 0,0:14:04.05,0:14:05.35,Default,,0000,0000,0000,,relative to the squirt gun.
Dialogue: 0,0:14:05.35,0:14:07.23,Default,,0000,0000,0000,,They have the GDP of India to work at.
Dialogue: 0,0:14:07.47,0:14:10.03,Default,,0000,0000,0000,,And after studying\Nthese companies for 10 years,
Dialogue: 0,0:14:10.03,0:14:11.57,Default,,0000,0000,0000,,I know what their mission is.
Dialogue: 0,0:14:11.82,0:14:14.23,Default,,0000,0000,0000,,Is it to organize the world's information?
Dialogue: 0,0:14:14.43,0:14:15.68,Default,,0000,0000,0000,,Is it to connect us?
Dialogue: 0,0:14:15.95,0:14:18.42,Default,,0000,0000,0000,,Is it to create greater commonty of man?
Dialogue: 0,0:14:18.84,0:14:19.84,Default,,0000,0000,0000,,It isn't.
Dialogue: 0,0:14:19.84,0:14:21.66,Default,,0000,0000,0000,,I know why we have brought together --
Dialogue: 0,0:14:21.66,0:14:26.35,Default,,0000,0000,0000,,I know that the greatest collection\Nof IQ capital and creativity,
Dialogue: 0,0:14:26.35,0:14:30.36,Default,,0000,0000,0000,,that their soul mission is\Nto tell another fucking Nissan.
Dialogue: 0,0:14:30.50,0:14:31.76,Default,,0000,0000,0000,,My name is Scott Galloway,
Dialogue: 0,0:14:31.76,0:14:32.76,Default,,0000,0000,0000,,I teach at NYU
Dialogue: 0,0:14:32.76,0:14:34.07,Default,,0000,0000,0000,,and I appreciate your time.
Dialogue: 0,0:14:34.07,0:14:36.06,Default,,0000,0000,0000,,(Applause)
Dialogue: 0,0:14:42.81,0:14:44.15,Default,,0000,0000,0000,,Chris Anderson: Not planned,
Dialogue: 0,0:14:44.15,0:14:47.00,Default,,0000,0000,0000,,but you prompted\Nsome questions in me, Scott.
Dialogue: 0,0:14:47.00,0:14:47.100,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:14:47.100,0:14:50.02,Default,,0000,0000,0000,,That was a spectacular rant.
Dialogue: 0,0:14:50.56,0:14:51.95,Default,,0000,0000,0000,,SG: Is this like Letterman?
Dialogue: 0,0:14:51.95,0:14:52.95,Default,,0000,0000,0000,,When you do well,
Dialogue: 0,0:14:52.95,0:14:54.32,Default,,0000,0000,0000,,he calls you onto the couch?
Dialogue: 0,0:14:54.89,0:14:58.32,Default,,0000,0000,0000,,CA: No, no, you're going to the heart\Nof the conversation right now.
Dialogue: 0,0:14:58.58,0:15:04.74,Default,,0000,0000,0000,,Everyone's aware that after years\Nof worshipping Silicon Valley,
Dialogue: 0,0:15:04.74,0:15:06.62,Default,,0000,0000,0000,,suddenly the worm has turned,
Dialogue: 0,0:15:06.62,0:15:08.00,Default,,0000,0000,0000,,and in such a big way.
Dialogue: 0,0:15:08.35,0:15:09.35,Default,,0000,0000,0000,,To some people here,
Dialogue: 0,0:15:09.35,0:15:11.81,Default,,0000,0000,0000,,it will just feel like you're piling on,
Dialogue: 0,0:15:11.81,0:15:15.01,Default,,0000,0000,0000,,you're kicking the kids who've\Nalready been kicked to pieces anyway.
Dialogue: 0,0:15:15.01,0:15:17.26,Default,,0000,0000,0000,,Don't you feel any empathy\Nfor them at all?
Dialogue: 0,0:15:17.41,0:15:18.81,Default,,0000,0000,0000,,CG: None whatsoever.
Dialogue: 0,0:15:19.34,0:15:21.29,Default,,0000,0000,0000,,Look, this is the issue.
Dialogue: 0,0:15:21.68,0:15:23.52,Default,,0000,0000,0000,,It's not their fault, it's our fault.
Dialogue: 0,0:15:23.65,0:15:25.72,Default,,0000,0000,0000,,They're for-profit companies.
Dialogue: 0,0:15:25.73,0:15:28.26,Default,,0000,0000,0000,,They're not concerned\Nwith the condition of our souls.
Dialogue: 0,0:15:28.26,0:15:30.85,Default,,0000,0000,0000,,They're not going to take care\Nof us when we get older.
Dialogue: 0,0:15:30.85,0:15:34.64,Default,,0000,0000,0000,,We have set up a society that values\Nshareholder value over everything,
Dialogue: 0,0:15:34.64,0:15:37.08,Default,,0000,0000,0000,,and they're doing what they're\Nsupposed to be doing,
Dialogue: 0,0:15:37.08,0:15:38.41,Default,,0000,0000,0000,,but we need to elect people,
Dialogue: 0,0:15:38.41,0:15:40.47,Default,,0000,0000,0000,,and we need to force\Nourselves to force them
Dialogue: 0,0:15:40.47,0:15:42.09,Default,,0000,0000,0000,,to be subject to the same scrutiny\N
Dialogue: 0,0:15:42.09,0:15:44.16,Default,,0000,0000,0000,,that the rest of business\Nendures full-stop.
Dialogue: 0,0:15:44.16,0:15:45.98,Default,,0000,0000,0000,,CA: There's another narrative
Dialogue: 0,0:15:45.98,0:15:49.82,Default,,0000,0000,0000,,that is arguably equally\Nconsistent with the facts,
Dialogue: 0,0:15:49.82,0:15:56.67,Default,,0000,0000,0000,,which is that there actually is good\Nintent in much of the leadership --
Dialogue: 0,0:15:56.67,0:15:58.41,Default,,0000,0000,0000,,I won't say everyone necessarily --
Dialogue: 0,0:15:58.41,0:15:59.91,Default,,0000,0000,0000,,many of the employees.
Dialogue: 0,0:16:01.07,0:16:03.28,Default,,0000,0000,0000,,We all know people who work\Nin those companies,
Dialogue: 0,0:16:03.28,0:16:05.64,Default,,0000,0000,0000,,and they still are pretty convincing
Dialogue: 0,0:16:05.64,0:16:07.12,Default,,0000,0000,0000,,that their mission is to do --
Dialogue: 0,0:16:07.12,0:16:09.06,Default,,0000,0000,0000,,so the alternative narrative
Dialogue: 0,0:16:09.06,0:16:12.33,Default,,0000,0000,0000,,is that there have been\Nunintended consequences here,
Dialogue: 0,0:16:12.33,0:16:14.39,Default,,0000,0000,0000,,that the technologies\Nthat we're unleashing,
Dialogue: 0,0:16:14.39,0:16:17.87,Default,,0000,0000,0000,,the algorithms that we're attempting\Nto personalize the internet,
Dialogue: 0,0:16:17.87,0:16:19.20,Default,,0000,0000,0000,,for example,
Dialogue: 0,0:16:19.20,0:16:25.34,Default,,0000,0000,0000,,have a) resulted in weird effects\Nlike filter bubbles
Dialogue: 0,0:16:25.34,0:16:26.86,Default,,0000,0000,0000,,that we weren't expecting,
Dialogue: 0,0:16:26.86,0:16:30.07,Default,,0000,0000,0000,,and b) made themselves vulnerable\Nto weird things like --
Dialogue: 0,0:16:30.07,0:16:31.07,Default,,0000,0000,0000,,oh, I don't know,
Dialogue: 0,0:16:31.07,0:16:32.66,Default,,0000,0000,0000,,Russian hackers creating accounts
Dialogue: 0,0:16:32.66,0:16:34.52,Default,,0000,0000,0000,,and doing things that we didn't expect.
Dialogue: 0,0:16:34.52,0:16:39.15,Default,,0000,0000,0000,,Isn't the unintended consequence\Na possibility here?
Dialogue: 0,0:16:39.79,0:16:40.87,Default,,0000,0000,0000,,SG: I don't think --
Dialogue: 0,0:16:40.87,0:16:42.41,Default,,0000,0000,0000,,so I'm pretty sure statistically
Dialogue: 0,0:16:42.41,0:16:45.25,Default,,0000,0000,0000,,they're no less or better people\Nthan any other organization
Dialogue: 0,0:16:45.25,0:16:46.78,Default,,0000,0000,0000,,that has 100,000 or more poeple.
Dialogue: 0,0:16:46.78,0:16:48.37,Default,,0000,0000,0000,,I don't think they're bad people.
Dialogue: 0,0:16:48.37,0:16:49.33,Default,,0000,0000,0000,,As a matter of fact,
Dialogue: 0,0:16:49.33,0:16:52.78,Default,,0000,0000,0000,,I would argue that there's a lot\Nof very civic-minded, decent leadership,
Dialogue: 0,0:16:52.78,0:16:53.97,Default,,0000,0000,0000,,but this is the issue.
Dialogue: 0,0:16:53.97,0:16:58.59,Default,,0000,0000,0000,,When you control 90 percent\Npoints of share in a market search
Dialogue: 0,0:16:58.59,0:17:02.10,Default,,0000,0000,0000,,that is now bigger than the entire\Nadvertising market of any nation,
Dialogue: 0,0:17:02.10,0:17:05.89,Default,,0000,0000,0000,,and you're primarily compensated\Nand trying to develop economic security
Dialogue: 0,0:17:05.89,0:17:07.90,Default,,0000,0000,0000,,for you and the families\Nof your employees,
Dialogue: 0,0:17:07.90,0:17:09.37,Default,,0000,0000,0000,,to increase that market share,
Dialogue: 0,0:17:09.37,0:17:12.43,Default,,0000,0000,0000,,you can't help but leverage\Nall the power at your disposal.
Dialogue: 0,0:17:12.52,0:17:14.58,Default,,0000,0000,0000,,And that is the basis for regulation,
Dialogue: 0,0:17:14.58,0:17:17.02,Default,,0000,0000,0000,,and it's the basis for truism\Nthroughout history
Dialogue: 0,0:17:17.02,0:17:18.31,Default,,0000,0000,0000,,that power corrupts.
Dialogue: 0,0:17:18.31,0:17:19.41,Default,,0000,0000,0000,,They're not bad people,
Dialogue: 0,0:17:19.41,0:17:21.58,Default,,0000,0000,0000,,we've just let them get out of control.
Dialogue: 0,0:17:22.34,0:17:26.18,Default,,0000,0000,0000,,CA: So maybe the case\Nis slightly overstated?
Dialogue: 0,0:17:26.18,0:17:28.83,Default,,0000,0000,0000,,I know at least a bit --
Dialogue: 0,0:17:28.83,0:17:29.96,Default,,0000,0000,0000,,Larry Page for example,
Dialogue: 0,0:17:29.96,0:17:30.96,Default,,0000,0000,0000,,Jeff Bezos --
Dialogue: 0,0:17:30.96,0:17:33.49,Default,,0000,0000,0000,,I don't actually think\Nthey wake up thinking,
Dialogue: 0,0:17:33.49,0:17:35.22,Default,,0000,0000,0000,,"I've got to sell a fucking Nissan."
Dialogue: 0,0:17:35.42,0:17:36.88,Default,,0000,0000,0000,,I don't think they think that.
Dialogue: 0,0:17:36.89,0:17:40.35,Default,,0000,0000,0000,,I think they are trying to build\Nsomething cool,
Dialogue: 0,0:17:40.35,0:17:42.41,Default,,0000,0000,0000,,and are probably,
Dialogue: 0,0:17:42.41,0:17:43.81,Default,,0000,0000,0000,,in moments of reflection,
Dialogue: 0,0:17:43.81,0:17:47.68,Default,,0000,0000,0000,,as horrified that some of the things\Nthat have happened as we might be.
Dialogue: 0,0:17:48.32,0:17:51.55,Default,,0000,0000,0000,,So is there a different way\Nof framing this?
Dialogue: 0,0:17:52.29,0:17:57.44,Default,,0000,0000,0000,,To say that when your model is advertising
Dialogue: 0,0:17:57.44,0:18:02.14,Default,,0000,0000,0000,,that there are dangers there\Nthat you have to take on more explicitly?
Dialogue: 0,0:18:02.64,0:18:06.29,Default,,0000,0000,0000,,SG: I think it's very difficult\Nto set an organization up
Dialogue: 0,0:18:06.29,0:18:07.30,Default,,0000,0000,0000,,as we do,
Dialogue: 0,0:18:07.30,0:18:09.50,Default,,0000,0000,0000,,to pursue shareholder value\Nabove all else.
Dialogue: 0,0:18:09.50,0:18:10.80,Default,,0000,0000,0000,,They're not non-profits.
Dialogue: 0,0:18:11.42,0:18:14.95,Default,,0000,0000,0000,,The reason people go to work there\Nis they want to create economic security
Dialogue: 0,0:18:14.95,0:18:16.29,Default,,0000,0000,0000,,for them and their families,
Dialogue: 0,0:18:16.29,0:18:17.71,Default,,0000,0000,0000,,mostly first and foremost.
Dialogue: 0,0:18:17.71,0:18:19.00,Default,,0000,0000,0000,,And when you get to a point
Dialogue: 0,0:18:19.00,0:18:20.94,Default,,0000,0000,0000,,where you control so much\Neconomic power,
Dialogue: 0,0:18:20.94,0:18:22.93,Default,,0000,0000,0000,,you use all the weapons at your disposal.
Dialogue: 0,0:18:22.93,0:18:24.54,Default,,0000,0000,0000,,I don't think they're bad people,
Dialogue: 0,0:18:24.54,0:18:27.66,Default,,0000,0000,0000,,but I think the role of government\Nand the role of us as consumers
Dialogue: 0,0:18:27.66,0:18:29.34,Default,,0000,0000,0000,,and people who elect our officials,
Dialogue: 0,0:18:29.34,0:18:31.44,Default,,0000,0000,0000,,is to ensure that there\Nare some checks here.
Dialogue: 0,0:18:31.44,0:18:33.89,Default,,0000,0000,0000,,And we have given\Nthem the mother of all hall passes
Dialogue: 0,0:18:33.89,0:18:36.03,Default,,0000,0000,0000,,because we find them just so fascinating.
Dialogue: 0,0:18:36.43,0:18:37.71,Default,,0000,0000,0000,,CA: Scott, eloquently put,
Dialogue: 0,0:18:37.71,0:18:38.94,Default,,0000,0000,0000,,spectacularly put.
Dialogue: 0,0:18:39.46,0:18:43.59,Default,,0000,0000,0000,,Mark Zuckerberg, Jeff Bezos,\NLarry Page, Tim Cook,
Dialogue: 0,0:18:43.59,0:18:44.71,Default,,0000,0000,0000,,if you're watching,
Dialogue: 0,0:18:44.71,0:18:47.77,Default,,0000,0000,0000,,you're welcome to come and make\Nthe counter argument as well.
Dialogue: 0,0:18:47.77,0:18:48.98,Default,,0000,0000,0000,,Scott, thank you so much.
Dialogue: 0,0:18:48.98,0:18:49.99,Default,,0000,0000,0000,,SG: Thanks very much.
Dialogue: 0,0:18:49.99,0:18:51.44,Default,,0000,0000,0000,,(Applause)