Translator: Amany Allam Validator: Ahmad Altamimi [This hadith contains sharp language and the viewer is advised to be careful] This is my first and last slide. 6,400 of my students have seen it in 15 years. I don't think you can create a multi-billion dollar organization Unless you know which instinct or organ you are targeting. Our species needs a supernatural being. And our competitive advantage as a species is our minds. And our minds are powerful enough to ask these difficult questions, Unfortunately, it does not have the capacity to process an answer. What creates the need for a supernatural being, We can pray for him and turn to him to ask for an answer.
What is prayer? She is sending a query across the universe, Hopefully some kind of holy intrusion – We don't need to understand what's going on. Of a supernatural being that knows everything and sees everything And it gives us the power to know that this is the correct answer. "Will my child be okay?" You have a planet of things, And you have a working planet, And you have a planet of friends. And if you have children, You know that when things go wrong with the children, Everything melts In your world until the sun, and these are the children. "Will my child be okay?" "Symptoms and treatment for diphtheria" in the Google query box. One in six queries on Google have not been asked before In human history. Any priest, teacher, pontiff, scholar, counselor, or president has this credibility, So that one in every six questions asked him Are questions not asked before? (Google) is the god of modern humans. Imagine your face and your name on top of everything you put in this box, And you will realize that you trust Google more than any other entity In your life.
(Laughter) Let's move down the torso. (Laughter) One of the other coolest things about our species Is that we not only need to be loved, but we need to love others. Babies who are malnourished but enjoy a lot of affection Their results are better than that of children with good nutrition and those with less affection. The best sign, however, is that you can do it And it becomes part of the world's fastest growing population – Elderly people over 100 years old – There are three signs. In reverse order: your genetics – which aren't as important as you think. So you can continue to treat your body like waste Then you think, "My uncle Joe lived 95 years, And the matter is done. " It's less important than you think. The second is your lifestyle. Don't smoke, don't be overweight, early detection – Two-thirds of early cancers can be eliminated And heart disease.
And the first indication that you will become old Her: How many people do you love? So care is the security camera – And we call it the low-resolution security camera in our minds – Which determines whether you are valuable or not. Facebook flirts with our instinctive need, not just to be liked But to love others, Often through images that build empathy, It stimulates and strengthens our relationships. Let's continue our journey down the trunk. (Amazon) is our consumer gut. The need for more is an instinct in us. The penalty for scarcity is starvation and malnutrition. Open your lockers, You will find many times what you need. Why? Because the penalty for scarcity is much greater From the penalty of abundance. So "more for less" has become a never-ending way of working. It is the (China) method, And the method of stores and Walmart And now it is the method of the most successful companies in the world, (Amazon). You get a lot for a little in your gut, You digest it and send it to the muscles and bones of the consumption system. Let's move more, Once we know we have survived, which is the basic instinct, We move to the second strongest instinct, It is the selection and deployment of the strongest, smartest, and fastest seed All over the earth, Or choose the best seed.
This is not an hour. I haven't shipped it in five years. It's a vain attempt to tell people, “If you mate with me, your children are likely to survive More than if you mated with someone who wore a Swatch. (Laughter) The secret of business success is making use of the irrational organs. And "irrational" is the definition of Harvard Business School and New York Business School For the meaning of large profit margin and shareholder value. "A high-calorie paste for your kids." No? You love your elegant mom. Why choose good moms (Jeff): You love your children more. The biggest way to attract shareholders since World War II And until the emergence of (Google) It was making an ordinary product popular with people. You are a better mother, a better person, and my country is better If you bought this regular soap as opposed to this regular soap. Now technology is not the best way to raise shareholder value. Look at Forbes 400. They exclude inherited wealth and finance. The best ways to make a fortune: It is sexual attraction. (The Leaders), the richest man in the world, (Moet Hansei Louis Vuitton).
And the second and third: (H&M) and (Inditex). You have to target the most irrational organ for the sake of shareholder value. As a result, these four companies – (Apple), (Amazon), (Facebook), and (Google) – Deconstructed what we are. God, love, consumption, and sexuality. And the extent of your orientation towards these things determines your identity. Then they regrouped what we were in the form of for-profit companies.
By the end of the Great Recession, The market value of these companies was equal Niger's GDP. Now it is equivalent to the GDP of India, Overtaking Russia and Canada in 2013 and 2014. There are only five countries It has a GDP greater than the market value To these four companies. However, something is happening. The debate just a year ago was about which CEO resembles Christ the most? Who will run for president? Now the situation has changed. Everything they do is bothering us. We are concerned that they are evading taxes. It has paid (Walmart) since the Great Recession $ 64 billion In corporate income tax. While (Amazon) paid 1.4 How do we pay firefighters, soldiers and social workers If the world's most successful company doesn't pay their share? Simple It means that the less successful companies must pay More than its share. Is that good, Alexa? This is despite the fact (Laughter) This is despite the fact (Amazon) has added the full market value of (Walmart) To its market value in the past 19 months.
Who is at fault for this? We are wrong. We are electing observers who do not have the capacity Keep track of these companies. Facebook is lying to EU monitors They say, "It would be impossible for us to share the data Between our platform and (WhatsApp). So they agreed to merge. " They agree to merge and then – warning – they figure it out. The European Union replies: "We have been deceived, So we fine you $ 120 million. " Roughly 0.6 percent of the $ 19 billion acquisition price. If only Mark Zuckerberg had a guarantee That the acquisition takes place for 0.6 percent, Would he have done it? Non-competitive behavior. A fine of two and a half billion dollars, Three billion cash flow, Three percent of the cash in Google's budget. We tell these companies: "The best we can do, What can be done for shareholders, It is lying and deception.
" We issue parking tickets for 25 cents On a counter it costs $ 100 an hour. The best thing to do is lie. Destruction of jobs! Amazon only needs one person for two in Massey. If they grow their business by $ 20 billion this year, We will lose 53,000 cashiers and employees. This is normal, It has happened many times in our economy, But we've never seen companies this good at it. That equals a (Yankee) runway full of workers. And it's worse in the media. If Facebook and Google grow their business By $ 22 billion this year, which will happen, We will lose nearly 150,000 directors. Planner and author. Or we can fill in two and a half runways (for Yankees) And we say, "You're unemployed, courtesy of (Amazon)." We get most of the news from social media, Most of this news coming from social media is … False news.
(Laughter) I am not allowed to be a politician or to curse, Or to talk about religion in class, So I can't say, Zuckerberg has become Putin's [ __ ]. I definitely can't say that. (Laughter) Their defense: "(Facebook) is not a media company, but a technology company." You are creating original content, You pay sports federations to give you original content, And you're running a propaganda against it, so you're a media company. Just in the last few days, (Sherrill Sandberg) repeated this lie: "We're not a media company." Facebook has openly embraced the margin of fame And the influence of the media company Seems sensitive to responsibilities Media company. Imagine mcdonalds Where we find that 80 percent of their meat is adulterated, And it infects us with encephalitis, We make the wrong decisions.
We say, "We are angry, McDonald's!" And they would say, "Wait We are not a fast food restaurant, We are a fast food platform. " (Laughter) These companies and their CEOs are wrapping themselves up In a rainbow and a blue blanket To produce a tricky trick of their everyday behavior, In sign of the breeding of (Darth Vader) and (Where's Rand). Why? Because we as progressives are seen as weak and friendly. If only Sherrill Sandberg wrote a book on gun rights Or about the pro-life movement, Would they have taken it to (Kan)? No. And I do not question their progressive values, But it expresses the shareholder value, Because we as progressives are seen as vulnerable. They're so cute – remember Microsoft? They did not look so sweet, The observers intervened earlier than the monitors did now. Who would never interfere with these nice folks. I'm about to board a plane tonight, I'm bothered by someone from the Transportation Security Administration named Roy. And if I am accused of driving under the influence on my way home, I will have a blood drawn.
But wait! Don't take advantage of the iPhone, It is holy. This is our new cross. Its name shouldn't be iPhone X. But it should be called "iPhone Cross". We have our religion, which is Apple. And our Christ is Steve Jobs, We have decided that it is more sacred than our person, or our home Or our computer. We are getting out of control With the growing idolatry of innovation and youth. We no longer worship at the sanctuary altar, And kindness, But in the altar of innovation and the people who create shareholder value.
Amazon has become very powerful in the market, She can do Jedi tricks. Where it can destroy other industries just by looking at it. If Nike announces that it is distributing via Amazon, its shares rise. All other shoe manufacturers' shares are falling. While Amazon shares are rising, so do other retailers. Because they assume what is good for (Amazon) will be bad for others. They cut the cost of salmon 33 percent when they got Whole Foods. And in the period between the time they announced the acquisition of Whole Foods. And between closing it, Kruger, the largest grocer in America, was exposed. To waste a third of its value, Because Amazon bought a grocer ten the size of Kruger. I was lucky. I predicted the takeover of Whole Foods by Amazon.
A week before this happens. Here I am proud to announce it publicly in the media. It was the biggest acquisition in their history. They have never bought more than a billion, People asked, "How did you know that?" So I'll share the secret with this impressive audience. How did you know that? I will tell you how I learned. I've been shouting at Alexa all day And I'm trying to figure out what happens. (Scott Galloway): Alexa, buy whole milk. (Alexa): I didn't find anything about whole milk So I added it to your shopping list. (SCOTT): Then I asked, (Scott) Alexa, buy organic food. (Alexa): Our first search result for organic food It is organic baby food from (plum), banana and pumpkin, 12 4-ounce packages each.
And it costs $ 15. Do you want to buy it? (SCOTT): Then, as always happens at my age, Confused. (Scott) Alexa, buy all the food. (Alexa) I bought the premium bonds of Whole Foods Incorporated. $ 42 a share. You paid $ 13.7 billion with your American Express card. (Laughter) SCOTT: I thought that would be funnier. (Laughter) We have forgotten these companies, And just as it happens when you are very angry about every little thing someone does In your life and relationships, Then you have to ask yourself, "What's going on here? Why are we so frustrated with technology?" I guess it's because it's one percent that you seek Shareholder value And 99 percent to improve human lives We are used to technology Have turned, And now we're focusing on shareholder value more than humanity.
One hundred thousand people have gathered on the Manhattan Project And they literally saved the world. Technology has saved the world. My mother was a four-year-old Jew who lived in London during the war. If we don't win the race to split the atom, Would she have survived? Not likely. After twenty-five years The greatest achievement in human history became: It is the rise of humans to the moon Where 430,000 Canadians, Britons and Americans gathered together, Again, with a very basic technology, And they put a man on the moon. Now we have the best and brightest 700 thousand people, They came from all over the earth. They literally play with lasers for slingshots, As for the spray gun. And they have the GDP of India to work in. And after studying these companies for 10 years, I know what their message is. Is it the organization of information in the world? Is it connecting us together? Is it the creation of a higher etiquette for human beings? No, not any of that. I know why we got together – Know that the greatest combination of intelligence, capital, and creativity, Their only message is: Sell a car (Nissan) for another sample.
My name is Scott Galloway, and I teach at New York University, and I appreciate your time very much. (clap) (Chris Anderson): Unplanned, But you stirred some questions in me, Scott. (Laughter) That was a striking blame. SCOTT: Is that like Letterman? When you are doing well, he invites you to the sofa? (Chris): No, you're going to be at the center of the conversation right now. Everyone realizes that after years of worshiping Silicon Valley, Suddenly the situation has changed And in a big way.
Some people here will feel that you are piling on. You are kicking already dismembered children. Do you not feel any sympathy for them? (Scott) No, not at all. Here is the dilemma: The mistake here lies with us, not them. They are profit-seeking companies. They are indifferent to our spiritual condition. They will not take care of us when we grow old. We have created a community that values shareholder value before anything else. And they do what they have to do. But we need to elect people And we need to force ourselves to force them To be subject to the same scrutiny To which other business is subject. (Chris): There's another narrative It can be said that it is consistent with the facts, And that is that there is good intention among most of the leaderships – I don't say all of them – And many employees. We all know people who work for these companies, And they are very convinced that their mission … So, the alternative narrative is that it exists Unintended consequences here, For the technologies that we launch, Algorithms, and trying to customize the internet, for example, It resulted in strange effects like the filter bubble Which we did not expect: And it made them vulnerable to strange things like …
I don't know, Russian hackers creating accounts And they do things we weren't expecting. Isn't unintended consequences a possibility here? (Scott): I don't think so … Statistically, I am sure They are neither less nor better than any other organization Contain 100 thousand people. And I don't think they are bad people. As a matter of fact, I can argue With respectable leadership with a classy mind. But here's the dilemma: When you control 90% of the points in a market study, That is bigger than the advertising market of any country, Basically, you are compensated and try to develop an economic safety To you and the families of your employees, To increase this market share, You cannot help but take advantage of every strength at your disposal.
This is the basis of regulation, It is the basis of the axiom throughout history That power corrupts. They are not bad, We just let them get out of hand. (Chris): So maybe this situation has been overstated? I know a little … (Larry Page) and (Jeff Bezos), for example And I don't think they wake up thinking, "I have to sell a Nissan." I don't think they think like that. I think they're trying to build something cool, and maybe, In moments of contemplation, They are terrified of what happened to some things as we do. So is there another way to express it, Let's say that while your template is advertising, There are dangers that you have to deal with clearly? (SCOTT): I think it's hard to create an organization like we do, To seek shareholder value without anything else. They seek profit. And the reason people work there is their desire for economic safety To them and their families, first and last, And when it reaches a point where it controls most of the economic powers, Use all the weapons you own.
I don't think they're bad, But I think the role of the government, our role as consumers, And as people who elect their representatives It is to make sure that there is an investigation here. And we gave them absolute permission Just because we find them adorable. (Chris): Scott, you made it very eloquent. (Mark Zuckerberg), (Jeff Bezos), (Larry Page) (Tim Cook), if you watch, You are welcome to respond. And thank you, Scott. (Scott): Thank you very much. (clap).