Growing Up With Economic Anxiety

Three jackets, a glove, and the relentless pursuit of money and relevance

Editor’s Note: No Mercy/No Malice is a column from Professor Scott Galloway, where he shares various reflections on business, tech, and life each week.

I was planning to review my 2018 predictions, which were AWESOME, and highlight some new ones for 2019: peak Apple, the coming spin of AWS, smart cameras, retail trends, and the best and worst tech stocks for the year. Covered some of that on last week’s Pivot. But today,

Instead, I want to write about kids and economic insecurity.

Before my parents split, our household wasn’t economically anxious, but stressed. My mom and I were always on edge, fearful we had committed a crime against humanity anytime we spent money. My dad was raised in depression-era Scotland and, understandably, has a fucked-up relationship with money. Whether it was ordering a shake at Baskin-Robbins, buying steak, or discussing a vacation, spending money was verboten.

At 88, my dad and his wife were planning to move into an assisted living facility. If I were more famous, it would have been the subject of a TMZ story: “Successful Prof Vacations in the Alps While Dad Wallows in Trailer Park.” I convinced my dad and his wife to move into a nicer place with relative ease by offering to pay for it. The incremental cost of living in the Toyota (vs. Yugo) of retirement homes was a real stretch for them. By my…