Why does Scott say he wants to launch good men, and what shaped that goal?

Scott explains a pivot in his 40s sparked by personal experiences, including his mother’s illness and the birth of his children. He says money should be a means to protect people, not just accumulate wealth, and that his aim is to raise confident, loving men by the end of his life.

What is Scott's view on wealth, money, and how to spend the surplus?

He describes using a fixed 'burn' number to determine when to spend or give away the surplus above his target net worth. He enjoys spending and then donates the rest, not for philanthropy’s sake but to reinforce a masculine, American identity.

What does Scott say about traveling with kids and experiences vs. material purchases?

Scott emphasizes experiences over possessions, noting that travel with family, especially meaningful trips, yields lasting happiness. He cites college tours with his son and international experiences as examples of valuable family times over luxury items.

How does Scott compare GLP-1 drugs and AI in terms of life impact?

He argues GLP-1 drugs have a larger immediate impact on deficit reduction and quality of life than AI does, suggesting they could transform healthcare and personal behavior. He even discusses drastic policy ideas like distributing GLP-1 doses widely.

What is the 'Resist and Unsubscribe' idea about?

Scott proposes using consumer power to influence public policy, advocating for canceling subscriptions to big tech platforms and using spending as a political lever. He argues that shifting consumer behavior can move markets and political outcomes.

What does Scott suggest about capital gains taxes and fairness for young people?

Scott argues for reforms like abolishing capital gains taxes and adjusting mortgage deductions to level the playing field for younger generations, promoting a tax system that doesn't disproportionately benefit older, wealthier cohorts.

Who is Scott’s Davos influence recalled in the interview, and what line stuck with him?

He recalls Gavin Newsom as a standout presence in Davos who gave him genuine encouragement. The memorable line was Newsom telling him to 'keep doing what you're doing,' which Scott later considered using in other contexts.

What is 'Project 2028' in relation to 'Project 2025'?

Project 2028 is presented as a forthcoming book, positioned as a response or continuation to Project 2025, indicating a broader policy/policy-relevant work from Scott.

What personal code does Scott advocate for in relationships and business?

Scott emphasizes having a personal code: be true to who you are, express desire, avoid keeping score, and treat friends with generosity without making them feel like transactions. He argues that imperfect codes are better than no code at all.

Scott Galloway: Why I'm selling my American stocks

My First Million

Entertainment4 min read71 min video

Feb 16, 2026|161,296 views|3,807|938

my first million my first million podcast my first million podcast episodes the hustle the hustle daily the hustle trends shaan puri sam parr sam parr the hustle the hustle podcast the hustle podcast my first million startup podcast

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Key Moments

TL;DR

Selling US stocks; diversify, pursue purpose, GLP-1s, and ripples of wealth myths.

Key Insights

Diversification over singular market bets: US equities are expensive and cyclical; balance with emerging markets and global assets to manage risk and capture cycles.

Wealth as a means, not an end: Scott pivots from chasing money to building a life with purpose—raising 'good men' and protecting family, guided by a burn-rate rule and a surplus-value mindset.

Experiences over possessions: Significant emphasis on travel, family time, and experiential living; private plane use is weighed against simplicity and family moments.

GLP-1s vs AI: GLP-1 drugs are viewed as potentially more transformative than AI; policy-level ideas (broad distribution) are discussed alongside long-term risk considerations.

Practical, sometimes provocative policy views: Proposes tax reforms (capital gains, mortgage deduction, tax holidays for the young), plus national service to rebalance wealth and opportunity.

Building wealth in boring assets and third places: Finds strong ROI in fixed-income-like, cash-flowing assets (shopping centers) and experiential venues; skepticism for market hype unless there’s durable cash flow.

SELLING US STOCKS: WHY DIVERSIFICATION MATTERS

Galloway argues for a deliberate shift away from a US-centric stock focus due to valuation excesses and cyclical dynamics. He highlights the Buffett indicator and the pattern of eight-year leadership cycles between US equities and emerging markets, noting that the US has outperformed for about 17 years while EM has its turn, and vice versa over time. He stresses that both US and non-US equities are assets worth holding, and that diversification across markets is prudent. The choice isn’t patriotic judgment but a risk-managed posture: broad exposure often preserves capital better than a US-only tilt.

FROM WEALTH TO PURPOSE: BUILDING GOOD MEN AND FAMILY PRIORITIES

The conversation centers on a pivot from wealth accumulation to purpose-driven living. He describes how his mother’s illness and the birth of his sons reframed money as a tool to protect and support people rather than trophies to boast about. The goal is ‘surplus value’—ensuring he leaves behind confident, loving men—and he explains a burn-rate framework (25x annual spending) to decide when to spend versus give away. This shift underpins a long-term view where character and family take precedence over endless wealth accumulation.

SPENDING AS A TOOL FOR QUALITY OF LIFE

Spending is framed as a lever for happiness and quality of life, not just status signaling. He args for private aviation as a luxury that can simplify life when used strategically, while also celebrating travel and shared experiences with family. He notes the joy of college tours and other experiential trips powered by AI planning, emphasizing that experiences tend to yield more happiness than material goods. A recurring idea is to spend above a certain threshold and use the rest to fund meaningful experiences or give away excess wealth.

GLP-1S, AI, AND THE BIGGEST TRANSFORMATIONS

Galloway highlights GLP-1 drugs as potentially more transformative than AI, capable of reshaping health, obesity, addiction, and even cognitive trajectories. He entertains bold policy ideas, including distributing GLP-1 doses at scale to reduce healthcare costs, while acknowledging risks and trade-offs. He argues that while AI captures headlines, GLP-1s could deliver deeper, broad-based improvements to daily life and economics, warranting careful consideration of long-term effects and policy responses.

BUILDING VALUE IN BORING ASSETS: SHOPPING CENTERS AND THIRD PLACES

The conversation celebrates the value of boring, cash-flowing assets over sexier tech bets. He discusses L2 and similar ventures, stressing that predictable revenue streams can outperform flashy but volatile opportunities. Shopping centers with anchored tenants and evolving experiential uses (Topgolf, trampoline parks, etc.) illustrate how brick-and-mortar remains viable when reimagined for experiences. He emphasizes a preference for durable cash flows, disciplined capital allocation, and avoiding overhyped sectors without real, repeatable income.

A CODE FOR LIFE AND RELATIONSHIPS: LEADERSHIP, PAYING FOR DINNER, AND FOLLOW-UP QUESTIONS

Galloway frames a personal code for life and relationships. He advocates ditching the scoreboard, expressing ongoing desire, and ensuring a partner never feels hungry or neglected. He champions authenticity, meaningful follow-up questions, and vulnerability in friendships and marriage. He reflects on leadership—how small acts of genuine care (like paying for a date) can convey strength—and cautions against ego-driven behaviors that erode trust. The takeaways blend practical dating wisdom with broader relational integrity.

RESIST AND UNSUBSCRIBE: USING BUYER POWER TO SHAPE POLICY

Resist and Unsubscribe is presented as a consumer-driven political tactic. He argues that reducing recurring revenue to big tech platforms can influence policy by altering market power and signaling consumer intent. The plan involves unsubscribing from platforms, curating spending, and illustrating impact through data-driven demonstrations. While acknowledging it's a long-term effort requiring broad participation, he believes the ‘power of the purse’ can push companies and policymakers toward more American- and consumer-friendly actions.

CREATIVE PROCESS, LEADERSHIP, AND TIME MANAGEMENT

A window into his disciplined routine reveals heavy output: seven podcasts weekly, a weekly newsletter, and a robust editorial process with a large team. He emphasizes late-night solo time for original thinking, while ensuring rigorous editing and data-backed storytelling. He describes stepping back from day-to-day management to focus on content creation, relying on trusted partners to run the business. The core is relentless practice, excellent hiring, and a continuing commitment to produce provocative, useful insights.

Mentioned in This Episode

●Software & Apps

●Companies

●Books

●People Referenced

Common Questions

Scott noted that Davos has shifted from a focus on e-commerce and US-brand capitalism to a conversation dominated by AI. He described the global mood as unsettled and said the American brand today reflects chaos and coercion rather than clear governance. This is discussed around his Davos reflections and the AI conversation.

Topics

Davos Gavin Newsom Private Plane Travel With Kids Third Places GLP-1 Drugs Capital Gains Tax Resist And Unsubscribe Economic Security Burn Rate L2 Benchmarking Project 2028 Project 2025 Personal Code

Mentioned in this video

toolEli Lilly

Pharmaceutical company cited alongside Novo Nordisk as a GLP-1 drug supplier; referenced in the same policy discussion.

personMichael Phelps

Olympian used in the conversation to illustrate discipline and effort in sustaining high performance.

toolNovo Nordisk

Pharmaceutical company cited as a potential source of GLP-1 drugs; Scott mentions estimating a macro policy scenario involving a billion doses.

personBen Stiller

Actor who previously talked with Scott; used as a humorous reference during an interview moment.

personGavin Newsom

Governor of California; Scott highlights Newsom’s star power at Davos and recounts a moment where Newsom approached him with encouragement.

personBarry Rosenstein

Hedge fund manager cited as a role model for wealth, generosity, and leadership in philanthropy.

toolL2

Scott’s earlier career company (digital benchmarking/analytics) discussed as a career win and a model for recurring revenue.

personLindsey Graham

Senator observed by Scott as an example of attention-seeking behavior at Davos; used for contrast in Davos crowd dynamics.

bookProject 2025

Scott’s prior book referenced as context for Project 2028.

personJosh Shapiro

Pennsylvania politician; guest mentioned in context of the podcast lineup and interview planning.

bookProject 2028

Scott’s forthcoming book, referenced as a continuation/response to Project 2025.

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