Speaker
George Hahn
Appearances over time
4 episodes
Episodes
4
Podcasts
Quotes & moments
By 1999, 39% of all venture capital investments were being deployed into internet companies, a concentration that foreshadowed the eventual crash.
Leopold Aschenbrenner's AI hedge fund Situational Awareness was up 439% for the first half of 2026, swelling to roughly $45 billion before collapsing.
Under the Big Beautiful Bill, ICE receives funding that rivals the entire military budgets of Italy or Israel, framed as immigration enforcement.
Scott Galloway argues the biggest trend of 2026 isn't AI chatbots but IRL, in-person experiences, exemplified by the World Cup.
After margin calls and a fire sale of its public stock portfolio to Citadel, Situational Awareness was left managing roughly $10 billion.
Trump's stated goal is to deport 4 million undocumented people over 4 years, representing about 3% of the U.S. workforce.
Since 1960, US consumers have increased their share of discretionary spending devoted to experiences by 60%, while spending on goods fell 35%.
In 1999, 80% of US IPOs were related to internet companies, reflecting the extreme exuberance of the dot-com era.
In fiscal year 2026, ICE will receive over $11 billion, a 10% increase from current funding, with the new law set to more than double that.
Sun Microsystems, valued at $205 billion at its 2000 peak, shed 96% of its market cap as its internet clients went bankrupt.
A 2026 American Express report found that 74% of millennials and Gen Z consider travel non-negotiable.
At its peak, Nortel Networks carried 75% of North America's internet traffic and was valued at $230 billion before losing over 90% of its value.
A 2026 Mastercard survey of 27,000 European consumers found that 60% prioritize offline experiences to balance time spent online.
The Big Beautiful Bill authorizes hiring 10,000 new ICE agents, bringing the total force to nearly 30,000.
South Korea's stock market fell 44% from its June highs, wiping out $2 trillion in value, driven by retail investors in single-stock leveraged ETFs.
In the US, the dominant dark definition of masculinity centers on dominance and an inability to show emotion. Soccer offers a correction: men who display strength, cooperation, emotion, and devotion. Galloway wants his sons to take permission — not patriotism — from the beautiful game.
74% of millennials and Gen Z consider travel non-negotiable, and two-thirds would sacrifice job benefits for more flexibility to travel. This isn't just YOLO spending — it reflects the reality that traditional asset purchases like homes are increasingly out of reach.
Streaming is plateauing — that's why you're seeing bundling and price hikes. Axios media correspondent Sarah Fischer told Galloway the real growth is in live experiences, a thesis backed by a domestic box office on pace for $10 billion in 2026.
The biggest trend of 2026 isn't AI chatbots — it's IRL experiences. From the World Cup to movie theaters to live concerts, people are choosing real-world togetherness over digital convenience.
In 1998, economists Pine and Gilmore predicted economies would evolve toward staging memorable experiences. Galloway argues digital atomization and pandemic scarcity proved them right — experience is now the ultimate premium.
Live experiences combat loneliness, but in a K-shaped economy they're priced out of reach for most people. Galloway argues this isn't just an economic problem — it's a public health crisis, because IRL connection is the cure for the loneliness epidemic.
Live Nation and Ticketmaster control 70–80% of major US concert venue ticketing — and a jury found them guilty of antitrust violations in April. Meanwhile, average concert ticket prices rose 50% between 2019 and 2024, pricing out fans at the low end.
Despite real concerns about American political dysfunction affecting the tournament, the World Cup has delivered something the UN never can: genuine human unity across borders. Galloway documents viral moments of fans and even Iran's national team celebrating America.
In 2025, Australia became the first country to ban social media for anyone under 16. By 2026, 13 more countries are taking similar steps. Galloway sees this regulatory pushback as an accelerant to the IRL experience boom.
Bloomberg Intelligence estimates the 2026 World Cup will generate $9 billion for FIFA and $80 billion in global economic activity. With 6 billion viewers, it's the most-watched and economically impactful tournament in history.
The dot-com crash followed a predictable sequence: B2C companies fell first, then B2B, then infrastructure. That same domino pattern is now forming in AI. The echoes are unmistakable — and for anyone who lived through 1999, the moment is recognizable.
Pets.com had the right idea — consumers would buy pet food online. It was just a decade early. Chewy proved the thesis in 2011. OpenAI may be the same story: the correct thesis, but the infrastructure, economics, and market readiness aren't there yet.
Nortel carried 75% of North America's internet traffic and was valued at $230 billion at its peak. Then the dominoes hit infrastructure. Within a year, 90% of its value was gone. Along with Global Crossing and Lucent, Nortel had lent money to the same dot-coms now going bankrupt — and none of the three survived.
OpenAI lost $21 billion in 2025. For every dollar subscribers pay for ChatGPT, the company spends nearly three. Its projected $100 billion ad business is 90% below its own forecast. This isn't a startup burning toward profitability — it's a hallucination with a balance sheet.
FIFA's dynamic pricing model and service fees on ticket resales have turned the World Cup into a billionaire's playground. A Scotland fan quoted by the Wall Street Journal put it simply: FIFA has taken it away from the ordinary fan and is selling it to the highest bidder.
Analysis
What they talk about
- Technology 22%
- Government 22%
- Business 22%
- Society & Culture 20%
- Sports 8%
- News 3%
- Education 3%
Connections
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