Many levels it was a great year. 2020 they will be better or worse . Yes, the man for whom. I am optimistic. I think pointed going to be a good year. The Public Sphere is corrupt. And adam bomb has exploded and must come together to stop the worst of the immunity. From happening. It has happened both world war ii, this is another one of those moments. Druglike effect is number one hit in, you think you are just on the platform, interacting with your brand, reading the news. You dont realize this incredible systems are delivering these dopamine food, drinking a behavior. We are trying to live with Bipolar Disorder or burial . Area. Yeah, michael. Denials quite whistle. Three to 4 of the general population has some form of this garner, Bipolar Disorder. According to early one study, except in the one. A lot of skill. No i hate . When people say you are inactive. If you just go and that, shouldnt have appointed me. Really . Im an american first. Im 76 first. My profession is an actor. Im a thinking human being, why should i not have a Point Of View . The navy once again, im stephanie ruhle. And then youre gives us all the chance to get back at the biggest Story Finishes in 2022. And to look ahead at what we can expect next year. It has been a year of january 6th hearings, attacks on our democracy, a whole lot of tech and business shake up. And much more. Through this next hour, we are going to look at some of the most important stories, of some of our favorite guests. I cant think of anybody who i would rather begin with them my dear friend scott galloway. Professor of marketing at nyu school prisoners. For most of the Pivot Podcast and force the prophecy followed and New York Times bustling author. His latest book adrift, america in 100 charges among three. Scott, im so glad you are here. There are so many things we can talk about, i want to start with loneliness. Youve actually been talking about three years. Specifically you did in the book, you and i talked about it a few months ago. Here we are at the end of the. You talked about what this is done two young men, but we are also coming out of covid, theyre in seniors more isolated than ever. Its a problem, not just here, the problem abroad. But oriented uber . Not, there are some scary stuff. One in seven american men say they dont have a single friend. The first time in our nations history, less than 50 of households of america, one of four households, the Person Luminaries living alone. If you look at loneliness, supposedly loneliness in the same smoking 18 cigarettes a day in terms of its impact on your health. Think of this, were in the left 20 or 30 years, we have had 40 to 60 million americans by smoking a pack today. Why . Why did this happen . Because we are racking up facebook friends . , as most of these issues in the multidimensional. People have decided that in many instances, 50 of the Target Market for friends are no longer available because they are so polarized politically. Im a bit guilty of it. I have trouble maintaining friendships with people who want a certain political direction. And i would say young people, you need to separate the person from politics. We are not in as many context around proximity. Not for the, look im going to the, more are going to the movies. A lot of kids are going to school. So we dont have as many random encounters. Also, i think people are generally speaking struggling with covid. And have come out of club and more comfortable being alone. There are all events. Environmental factors, technological factors. Political factors. Its a shame. Because without a connective tissue, the foundation of any societys relationship. The key to happiness across every study is the number of people and meaningful relationship you have. Really is a crisis. We are busy tweeting. You are hyper critical of twitter when jack dorsey ran it, you are headphone critical ability llama. How would you assess where we are now and where you think its going to be six months from now. Its a disaster for shareholders. He spent 45 Billion Dollars on a company that rockefeller 70 or 80 reserve in the. I dont think its demonstrating embrace. The wealthiest man in the world inspiring people and then refusing the pay severance. He is spreading Conspiracy Theories that are somewhat at a minimum a bit homophobic. So i think that this is a lesson in how not to replace yourself when you are as losses elon musk. Is there any chance that part of this is how a mad genius bill The Tech Company . I cant imagine that these jobs will live. He is rebuilding twitter with all of the world to see. While he is sending horrible pieces, hes kind of getting exactly what. Hes gonna pour the keeper fired up and super in age. Many people are forcing, probably the, you are saying people say more fired up than ever on this platform. Who is really leaving as the revenues. The news around 70, 80 . The comcast lost 70 bags and the values in 30 days, prematurely over. Now to your point, its not what hes doing, its how hes done. Trying to move the subscription really, to get the company and, probably the nearly 70,000 people. Theyre trying to move to subscription. There is a law you can justify. Its how he is going about it that i think is the real issue. I mean, the big story i think around twitter wont be twitter so to speak. I think the twitter virus has jumped out of the lab and its going to begin infecting has lost. That is, if you look at the net favor ability scores on kessler, the test brand, they have taken the most dramatic dive i have ever seen of any company that huge crisis. So effectively, tesla at the turn, it was a three and a billion it was a seven footer. Reporter is the virus in my view that is about to Infect Health law. Because anytime you have a car selling for 60 to 120 grand, its about you, little brand, a little says about you. Right now, china tesla says more negative things that you benefit when you fall on last year. How about the whole tech industry. In the sixth . For years and years it seems like it was the one industry that was power hiring. Anyone who could walk. Not just anyone, the smartest kids, from the best school. And suddenly, massive layoffs. What do you attribute this to and you think there will be a Trickle Down Effect into other industries . Going back them up, i think it would be impossible for other ceos not to take notice of the fact that what is up and running with 70 fewer employees. Theyve been cramming some ice cream down the throats of tech, of growth. That there is just a lot of that either positive that have developed. This is the part of the economy that kept on giving. One from 7 gdp 12 . There is some natural downsizing that is going to take place here. But recessions are either bluecollar or whitecollar. In 2023 is going to be the patagonia profession. That is, we are just Getting Started in terms of layoffs in tech. We will see layoffs across i think every major tech company. Heres the weird part. I think next year you are going to see a decline or flowing in revenues of metal angle. But it is going to be the most profitable year ever. Because they are going to look at twitter and think, he can operate on 70 you are employees, you can operate on 20 . Where these people going to go . This is the symphony of the worlds most violent. If youve been laid off from metal or google. You are likely graduated from anomalies, will likely, young living in an urban center where the employment is strong. The Biggest Issue around these individuals from what they are going to do, its what they are going to do. These people are going to be just fine. You know who is not just fine, crystal. Spf. Six months from now, you think Sam Bankmanfried is still living in the bahamas wildly unpopular by a free man who is likely richer than most . Or is he in serious trouble . I think hes going to prison. I dont know what you think, but i think we have hit peak genius interviewer. I would say never a while. But the real lesson here is should be going to prison . Sure. You say the same with a whole bunch of other people who are involved in subprime mortgages. Technically they didnt break the law. You might be in the same situation. I dont know stephanie. I think when you are comingling funds and you are incorporating in the bahamas and not have a Board Of Directors and no audited financial and the equivalent of the population of el paso losing 100,000 for every citizen, there is going to be enough to angry people and enough yays ucla for opportunity and putting him in jail. What about those who are incensed by protesting. All the politicians that have huge donations who are members now . All of the huge investors that he had are standing by him just months ago, they want to see him go up in flames or they just want to storms here . I think theyre incentivized to say that they saw before anybody else. You have the has, the two major figures going to prison. They both incense. The head of nicola motors. What is interesting, he brought up the subprime prices, that actually impacted the economy, came close to being down the global economy. The Crypto Market at some higher billion dollars in value is less value than amazon has shed. So the difference there is that the subprime market, huge impact on the economy, and we want to present. I believe this meltdown will result in several people going to prison but is basically imagining the windshield of our economy. It is more practical than it is significant. What you see happening with tiptop in 2023 . We are starting to see lawmakers, starting to see governors say that we do not want this in our state. We dont want this on our government computers. Weve been warning of the top. About how effective it was months ago. Where is it headed at least in the u. S. . There is worth headed and where should happen. What should happen is that it should be banned. The chinese and ccp have control over every streaming network in america, which they do right now in terms of time spent, is under the age of 18 spend what time on tiktok and every streaming media platform combined. Would be comfortable if this station abc, isnt, all owned by the ccp, we say no. It should be banned. What will happen is that tiktok will become worth over a trillion dollars. Gen z and millennials 63 and 54 respectively say they would rather have caught them all other media combined. Give everybody from General Atlantic instead going back in this. It is the most ascended had company in history. They will figure out a deal. And we are about to see bytedance become the fourth most valuable company in the world. Now. If you were to describe 2023 and one were, what would it be . Lori was inflation but optimistically, two words, democracy holden. Large democracy in latin america, peaceful transfer of power. He flirted with a top russian decided we didnt like dating that guy or gal. Our democracy is holding here, with every Election Denier was not reelected. Trumps endorsement took two and a half point off. I think actually 2022, despite inflation, typical environment in eastern europe. I think for america on many levels, it was a great. 2023 will be better or worse . Yes. The pendulum for whom. Im optimistic, i think we will hopefully see an end to the one ukraine. Because i think we are winning there without putting boots on the ground. I think inflation will come back this facet went up in the u. S. The strength of the dollar. The ongoing thing of the supply chain, Interest Rate increases which i think in the right thing to do. A recognition that no individual is greater than agree to shuns on america. And i would like to think that a recognition we are fortunate to be here. Middle class is important. Our institutions matter. And that these individuals that we want to worshippers they understand technology, that that has gotten out of hand. I think 24 degrees going to be a video. All right, stop, great to have you here. Appreciate it. Coming up, incredible conversation with a Nobel Peace Prize winner who stood up to a dictator and is fighting fascism with back. Maria warning on what we are witnessing here at home when The 11th Hour continues. Continues. 12 hours not coughing . Hashtag still not coughing . mucinex dm gives you 12 hours of relief from Chest Congestion and any type of cough, day or night. Mucinex dm. Its comeback season. Doesnt your family deserve the best . Egglands best eggs. 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