Translator: Amany Allam Auditor: Ahmad Altamimi [This speech contains sharp language and the viewer is advised to beware] This is the first and last slide, 6,400 of my students have seen her in 15 years. I don't think a multi-billion dollar organization can be created Unless you know which instinct or organ you target. Our species needs a supernatural being. Our competitive advantage as a race is our brains.
Our minds are strong enough to ask these difficult questions, Unfortunately, she does not have the ability to process her response. What creates the need for a super entity, We can pray to him and go to him to ask for the answer. What is prayer? Is to send a query across the universe, Hoping there is some kind of sacred intervention – We don't need to understand what's going on – From a supernatural being who knows everything and sees everything And it gives us authority to know that this is the right answer. "Will my child be okay?" You have a planet of things, And you have a business planet, And you have a planet of friends. And if you have children, You know that when things go wrong with children, Everything melts In your world and even the sun, these are children. "Will my child be okay?" "Symptoms and treatment of diphtheria" in the Google search box. One out of every six inquiries in Google has never been asked before In human history. Any priest, teacher, ink, scientist, counselor or president has this credibility. So that is one out of every six questions asked Are questions not asked before? Google is the god of modern humans.
Imagine your face and name above everything you put in this box, You will realize that you trust Google more than any other entity In your life. (Laughter) Let's move to the bottom of the trunk. (Laughter) One of the coolest things about our species It is that we not only need to be loved, but we need to love others. Children who are malnourished but have a lot of affection Their results are better than the well-nourished and the less affectionate children. But the best sign is that you can do it And it becomes part of the fastest growing population in the world – Aged people over 100 years old – There are three signs. In reverse order: your genetic traits – which are not as important as you think, So you can continue treating your body like waste Then she thinks: "My uncle (Joe) has lived 95 years, It was spent. " It is less important than you think.
The second is your lifestyle. Do not smoke, do not be fat, and early detection – Where two-thirds of early cancer can be eliminated And heart disease. And the first indication that you will become a perennial Is: How many people do you like? Care is the security camera – And we call it the low resolution security camera in our minds – Which determines whether you are valuable or not. Facebook flirters with our instinctive need, not just to be loved But because we love others, Often through images that create empathy, It stimulates and strengthens our relationships.
Let's continue our journey down the trunk. (Amazon) is our consumer gut. The need for more is an instinct in us. The penalty for scarcity is starvation and malnutrition. Open your lockers, You will find twice as much as you need. Why? Because the penalty for scarcity is much greater From the penalty of abundance. So "a lot for a little" has become a worn out way of working. It is the method (China), And the way Walmart stores And now it is the most successful way in the world.
(Amazon). You get a lot for a little bit in your gut, They digest it and send it to the muscles and bones of the consumption system. Let's move more, Once we know that we have survived, which is the basic instinct, We move to the second most powerful instinct, It is the selection and diffusion of the strongest, smartest and fastest seed All over the earth, Or choose the best seed. This is not an hour. I haven't shipped it in five years. It is a futile attempt to tell people, "If you mate with me, your children are more likely to survive More than if you got married to someone wearing a Swatch watch. (Laughter) The secret to business success is to take advantage of irrational members. And "irrational" is the definition of the Harvard Business School and the New York School of Business Meaning of large profit margin and shareholder value.
"High-calorie paste for your children." No? You love your smart mom. Why choose good mothers (Jeff): You love your children the most. The biggest way to attract contributors since World War II Until the emergence of Google It was by making an ordinary product likable for people. You are a better mother, a better person, and a better patriot If you bought this regular soap against this regular soap. Now technology is not the best way to increase shareholder value. Look at (Forbes 400). They excluded inherited wealth and financing. The best ways to make a fortune: She is a sexual attraction.
(The Leaders), the richest man in the world, (Moet Hennessy Louis Vuitton). Second, third: (H&M) and (Inditex). You must target the most irrational members for the value of the contributor. As a result, these four companies – (Apple), (Amazon), (Facebook), and (Google) – Dismantled what we are. God, love, consumption, and sex. How much you go about these things determines who you are, Then they recombined what we are in the form of profit companies.
By the end of the Great Recession, The market value of these companies was equivalent Niger's GDP. Now it is equivalent to India’s GDP, Bypassing Russia and Canada in 2013 and 2014. There are only five countries It has a GDP that is greater than the market value For these four companies. However, something is happening. The debate was just a year ago about which CEO looked more like Christ? Who will run for the presidency? Now the situation has changed. Everything they do bother us. We are concerned that they are evading taxes. It has (Walmart) paid since the Great Recession $ 64 billion In corporate income tax. While (Amazon) paid 1.4 How to pay for firefighters, soldiers, and social workers If the world's most successful company didn't pay their share? It is simple It means that less successful companies must pay More than its share. Is that good, Alexa? This is despite the fact (Laughter) This is despite the fact That Amazon has added the full market value of Walmart. To its market value in the past 19 months. Who is so wrong? We are wrong. We elect observers who do not have the capacity To track down these companies.
(Facebook) is lying to European Union monitors And they say, "It would be impossible for us to share the data Between our platform and WhatsApp. So they agreed to merge. " They agree to merge and then – Warning – they found out. The European Union replies: "We have been deceived, So we fined you 120 million dollars. " Almost 0.6 percent of the $ 19 billion acquisition price. If (Mark Zuckerberg) gets a guarantee To acquire 0.6 percent, Would he do it? Uncompetitive behavior. A fine of two and a half billion dollars. Three billion of cash flow, Three percent of the cash in Google's budget. We tell these companies: "The best thing to do, What can be done for shareholders, It is lying and deception. " We issue parking tickets for 25 cents On a counter that costs $ 100 an hour.
The best thing to do is lie. Destroy jobs! Amazon only needs one person, compared to two in Massey. And if they grow their business by 20 billion dollars this year, We will lose 53,000 ATMs and employees. And that's normal, It has happened many times in our economy, But we have not seen companies so efficiently in it. That equals a Yankee runway full of workers. It is worse in the media. If Facebook and Google grow their business By 22 billion dollars this year, which will happen, We will lose approximately 150,000 directors, Planned and author.
Or we can fill two and a half stairs (for Yankee) And we say, "You are unemployed, courtesy of (Amazon)." We get most of the news from social media, Most of this news coming from social media is … False news. (Laughter) I am not allowed to be a politician or to be insulted, Or to talk about religion in class, So I can’t say, (Zuckerberg) has fallen (Putin). I definitely cannot say that. (Laughter) Their defense: (Facebook) is not a media company, but a technology company. You are creating original content, You pay for sports federations to give you original content, And you run advertising against it, so you're a media company. Just in the past few days, (Sherrill Sandberg) repeated this lie: "We are not a media company." Facebook publicly embraced the margin of fame The influence of the media company Seems sensitive to responsibilities Media company.
Imagine (McDonald's) Where we find that 80 percent of their meat is adulterated, And afflicts us with encephalitis, We make wrong decisions. So we say, "We're angry, McDonald!" They say, "Wait We are not a fast food restaurant, We are a fast food platform. " (Laughter) These companies and their CEOs are wrapping themselves In a rainbow and a blue blanket To produce a deceptive trick of their behavior every day, In a sign of reproduction (Darth Vader) and (Where Rand). Why? Because we as progressives are seen as friendly and weak. If (Sherrill Sandberg) had written a book about the rights to bear arms Or about the pro-life movement, Would they have taken her to Cannes? No. And I do not question their progressive values, But it reflects the value of the shareholder, Because we, as progressives, are seen as weak. They are so cute – remember Microsoft? They didn't look so kind, Observers have interfered early on than what the observers have done now, Who will never interfere with these kind people. I'm about to ride a plane tonight, To be annoyed by a person from the Transportation Security Administration called (Roy).
And if I am accused of driving under the influence of alcohol on my way home, A blood sample will be drawn from me. But wait! Don't take advantage of the iPhone. It is sacred. This is our new cross. It shouldn't be called iPhone X, But it should be called "iPhone cross". We have our religion, which is (Apple). And our Christ is (Steve Jobs), We have decided that it is more sacred than ours, or our home Or our computer. We are getting out of control With the growing paganism of innovation and youth. We no longer worship in the altar of temper, Kindness, But at the altar of innovation and the people who create shareholder value. Amazon has become very powerful in the market, She can do the (jedai) tricks, It can only destroy other industries by looking at them. If Nike announces that it is distributing through Amazon, its shares rise. All other shoe makers are down. And while Amazon shares are up, other retailers are down, Because they assume that what is good for (Amazon) will be bad for others. They cut the cost of salmon by 33 percent when they got Whole Foods.
And between the time they announced the acquisition of Whole Foods, And between closing it, Kruger, the largest grocer in America, was exposed. To waste a third of its value, Because Amazon bought a grocer one-tenth the size of Kruger. I was lucky. I predicted that Amazon would take over Whole Foods. A week before this happens. Here I am proud to have announced this publicly in the media. It was the largest acquisition in their history, They have never purchased more than a billion, People asked, "How did you know that?" So I will share this impressive audience with the secret.
How did you know that? I will tell you how I learned. I shout at Alexa all day I try to find out what's going on. (Scott Galloway): Alexa, buy whole milk. (Alexa): I didn't find anything about whole milk So I added it to your shopping list. (Scott): Then I asked, (Scott) Alexa, buy organic food. (Alexa): The first search result for organic food Is organic baby food from (plum), banana and pumpkin, 12 packs of 4 ounces each. And it costs $ 15. Do you want to buy it? (Scott): Then, as always in my life, Confused. (Scott) Alexa, buy all the food.
Alexa: I bought United Whole Foods Bonds. Worth $ 42 a share. You paid $ 13.7 billion with your (American Express) card. (Laughter) (Scott): I thought it would be more funny. (Laughter) We forgot these companies, And as when you are so angry about every little thing someone does In your life and relationships, Then you have to ask yourself, "What happens here? Why are we so frustrated with technology?" I suspect that because of the one percent that you seek To shareholder value And 99 percent to improve human lives We are used to technology Had flipped, We are now focusing on the value of shareholders more than humanity. One hundred thousand people gathered in the Manhattan Project They literally saved the world. Technology has saved the world.
My mother was a four-year-old Jew and lived in London during the war. If we don’t win the race to divide the atom, Would she have survived? This is not likely. Twenty-five years later It has become the greatest achievement in the history of mankind: It is the rise of humans to the moon Where 430,000 Canadian, British and American gathered together, Again, with very basic technology, And they put a man on the moon. Now we have the best and brightest 700,000 people, They came from all over the earth. They literally play lasers with regard to slingshots, For the spray gun. And they have India’s GDP to work on. After studying these companies for 10 years, I know what their message is. Is it organizing information in the world? Is it connecting us together? Is it to create the finest manners for humans? No, not any of that. I know why we were gathered – I know the greatest combination of intelligence, capital, and creativity, Their only message is: Selling a Nissan for another sample.
My name is (Scott Galloway), I teach at New York University, and I appreciate your time very much. (clap) (Chris Anderson): Unplanned, But you moved some questions inside of me, (Scott). (Laughter) That was a beating blame. (Scott) Is that like Letterman? When are you doing well he invites you to the sofa? (Chris) No, you're going to be at the heart of the conversation right now. Everyone realizes that after years of worshiping Silicon Valley, The situation changed suddenly Significantly. Some people here will feel you are accumulating things, You are kicking kids already cut off. Don't you feel any sympathy for them? (Scott) No, not at all. This is the dilemma: The fault here falls on us, not on them, They are for-profit companies. They are indifferent to our spiritual condition. They will not take care of us when we grow old. We have created a community that values shareholders ’value above all else, They do what they should do. But we need to elect people We need to force ourselves to force them To undergo the same scrutiny To which other business is subject.
(Chris): There's another narrative Arguably it is consistent with the facts, And it is that there is goodwill for most leaders – I do not say all of them – And many employees. We all know people working for these companies, They are very convinced that their mission … So, the alternative narration is that it exists Unintended consequences here, For the technologies that we release, Algorithms, and trying to customize the Internet, for example, It resulted in strange effects like the filter bubble Which we did not expect: And it made them vulnerable to strange things like … I don't know, Russian hackers create accounts And they do things that we didn't expect.
Is not the unintended consequences one of the possibilities here? (Scott) I don't think so … Statistically, I'm sure They are not less or better than any other organization It contains 100 thousand people. And I don't think they are bad people. As a matter of fact, I can argue With respectful leadership with a refined mindset. But this is the dilemma: When you control 90% of the points in a market study, This is greater than the advertising market of any country. Basically you are compensated and try to develop economic safety To you and your employees ’families, To increase this market share, You can only benefit from every power at your disposal.
This is the basis of regulation, It is the basis of the axiom throughout history That power spoils. They are not bad, We just left them out of control. (Chris) So maybe this case was overrated? I know a little … (Larry Page) and (Jeff Bezos) for example And I don’t think they wake up thinking, "I have to sell a Nissan." I don't think they think like this. I think they are trying to build something awesome, perhaps, In moments of meditation, They are terrified of what some things have become like we do. So is there another way to express that, Let's say while your template is ad, There are dangers that you have to deal with clearly? (Scott): I think it's difficult to create an organization like we do, To strive for shareholder value without anything else.
They seek profit. The reason people work there is their desire for economic safety To them and their families, first and last, And when you get to a point where you control most of the economic powers, Use all the weapons you have. I don’t think they are bad, But I think the role of government, our role as consumers, And as people who elect their representatives It's to make sure there is an investigation here.
And we gave them absolute permission Just because we find them amazing. (Chris) (Scott), you've eloquently clarified it. (Mark Zuckerberg), (Jeff Bezos), (Larry Page), (Tim Cook), if you're watching, Welcome to reply. Thank you (Scott). (Scott): Thank you very much. (clap) .