No Mercy No Malice

The notorious co-working giant is the beneficiary of the ongoing remote work revolution

Real estate is an awesome gig.

For starters, the supply of fertile land (urban centers) is finite, but the source of demand keeps growing (more people/capital moving to cities). On top of that, we’ve granted real estate development such favorable tax treatment that it is nearly immune from taxation. Even Donald Trump, arguably the worst business person in U.S. history, made money in real estate development, despite the serial failure of the underlying business. As one tax law expert put it, the real estate industry “thinks of the tax code as a basket of goodies to feast on rather than…


No Mercy No Malice

The economic flood gates are about to open wide

A huge ocean wave breaks along the coast.
A huge ocean wave breaks along the coast.
Photo: Luis Ascenso/CC BYY 2.0

Post-crisis periods are among history’s most productive eras. London rebuilt after the Great Fire with grand new architecture, and Europe, after the worst of its plagues, underwent a commercial revolution. The Marshall Plan turned enemies into allies, fomenting peace and prosperity for more than half a century. Leaders also emerge from crises. Ulysses S. Grant was a washed-up soldier without prospects until war broke out, but that war created the opportunity for Grant to save the Union and advance the cause of freedom. This is all to say: In the next 36 months, I believe our economy will birth a…


No Mercy No Malice

When society becomes so enamored with individual success, it forgets, and even attacks, the very institutions that enable it

An illustration of a vintage-style plane with propellers flying through the clouds, with large coronavirus cells being “dropped” from the plane.
An illustration of a vintage-style plane with propellers flying through the clouds, with large coronavirus cells being “dropped” from the plane.
Illustrations: Scott Galloway

This week, I get to cross something off my bucket list: a byline in The Economist. Those familiar with the newspaper (how the firm refers to itself) know it doesn’t byline its writers. However, The Economist also runs an online “By Invitation” section, which has featured Madeleine Albright, Garry Kasparov, Arnold Schwarzenegger — people I roll with all the time. So, how did this happen? I. Don’t. Know.

Anyway, below is an excerpt. The full essay is available here.

American individualism and institutions

I grew up on stories of the second world war. During the aerial bombardment of London known as the Blitz, my…


No Mercy No Malice

And why Pinterest and Snapchat are leaving money on the table

“The task is… not so much to see what no one has yet seen; but to think what nobody has yet thought, about that which everybody sees.”

― Erwin Schrödinger

Just as life is not about what happens to you, but about how you respond to what happens to you, insight is not a function of data, but of how you perceive the data. Plotting data in different ways is illuminating, even fun, and it can lead one to discover stories. And while “stories” often connotes fiction, stories can also be true, and can even create truth.

The best way…


No Mercy No Malice

Proof that kindness compounds over the long term

As the news keeps thrusting the CEO of Robinhood in my face, I have two thoughts. One: Is the Javier Bardem No Country for Old Men hairstyle back in vogue? And two: Investing in — and holding — stocks has changed my life profoundly. …


No Mercy No Malice

Scott Galloway’s four unexpected principles for achieving economic security

An illustration of a pair of thick rimmed glasses on a surfboard going down a giant wave.
An illustration of a pair of thick rimmed glasses on a surfboard going down a giant wave.

The news of the (second) impeachment seems strangely pedestrian after the blowtorch intensity of Reddit vs. The Hedge Funds. The good news is that the hedge funds didn’t conspire with market makers and trading apps to suppress a (warranted) generational revolution. The inevitable Netflix/Hulu/Starz versions will not be so romantic; Reddit mainly inspired a transfer of wealth from one hedge fund to others. It was a pump and dump masquerading as a movement… with many retail investors left holding the bag. …


No Mercy No Malice

The social media giant’s toxicity and subpar financial results are one and the same problem

Every day, 187 million people open Twitter for news, entertainment, and a social connection. It is the real-time global communications network that sci-fi novelists envisioned. It is also a catalyst for conspiracy theories, a forum for hate speech, and a surprisingly lousy business.

In last week’s issue of New York magazine (February 1, 2021), I make the case that Twitter’s toxicity and subpar financial results are one and the same problem, amenable to one and the same solution. Fixing Twitter starts at the top — replacing an absentee CEO — and from there, changing the company’s business model. …


No Mercy No Malice

The S&P 500 registered the best Inauguration Day return since Reagan’s second term

An illustration of President Joseph R. Biden taking his oath on Inauguration day.
An illustration of President Joseph R. Biden taking his oath on Inauguration day.

The most striking thing about this abnormal inauguration? The normalcy.

The normalcy of a president speaking calmly. Speaking of unity and of a nation coming together. A president who is credible when he says it.

The normalcy of a previous, if not the prior, Republican president, saying to the incoming Democrat, “Mr. President, I’m pulling for your success. Your success is our country’s success and God bless you.”

The incoming president taking his oath to protect the Constitution on a Bible that has been in his family since 1893. …


No Mercy No Malice

While a quarter of America is behind on rent, the shareholder class has experienced an explosion in net worth

The federal response to the pandemic has been massive — a $5 trillion effort. It has also been a con. Under the cloud cover of Covid-19, the shareholder class has used its outsized influence over the government to toss a few loaves of bread at those suffering all while accruing trillions of dollars in wealth financed on the backs of younger and future generations.

How did we get here? In a healthy capitalist economy, wealth is always at risk. Competition spurs innovation, which disrupts the established order, creating winners — and also losers. Joseph Schumpeter called this the “gale of…


No Mercy No Malice

24 hours after a failed coup, the lead story on Twitter is Elon Musk becoming the wealthiest man in the world

An illustration of one of the violent rioters sitting in the Senate chamber well chair from Jan. 6’s attempted coup.
An illustration of one of the violent rioters sitting in the Senate chamber well chair from Jan. 6’s attempted coup.
Illustrations: Scott Galloway

On my podcast last week, public health expert Dr. Abdul El-Sayed highlighted that while viruses are naturally occurring, epidemics are a function of human action or inaction. This week, as a mob overran the U.S. Capitol, his observation registered increased purchase.

Extremism, misinformation, sociopaths stewarding profit-incentivized algorithms: All viruses. What we witnessed Wednesday afternoon — and have seen at least since November 4th — is an epidemic. Record deaths from Covid-19 and the U.S. Capitol overrun by a mob on the same day. How did this happen?

The virus has broken containment, preying on our comorbidities.

The ascendant comorbidity is…

Scott Galloway

Prof Marketing @NYUStern · Founder @L2_digital @redenvelope @prophetBrand · Contributor @bloombergtv · Cohost Pivot podcast · Weekly musings profgalloway.com

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