Scott Galloway profgalloway. A new technology emerges that ushers in remarkable productivity or, better yet, dopamine on demand. A group of talented people builds a thick layer of innovation on top of the tech financed by government , and a small number of CEOs leverage storytelling to access cheap capital and overwhelm the competition with brute force.
These companies engage in regulatory capture i. GPS, e-commerce, payments, search, social, streaming β¦ all produced trillion-dollar-plus entities. So the question is: Which organization s will capture, and sustain, trillions in shareholder value? The answer may be β¦ no. The Soviet Union did that before Sputnik, in , when it detonated its first nuclear weapon. Bicycles, sanitation, airplanes, vaccines, and Crispr are just a few technologies that have changed the world, but their benefits were dispersed across society rather than being hoarded by a few shareholders.
I increasingly believe AI will join this roster β it presents dynamics similar to most stakeholder vs. In sum, the winners here will be stakeholders, not shareholders. Scan your emotions after reading the last sentence. Did you reflexively grab your shareholder pearls and feel this was, maybe, a bad thing? America becomes more like itself every day, and our obsession with, and idolatry of, the dollar has put the public good in the back seat.
Billions of stakeholders benefiting from AI, vs. In one day, the company shed the value of the entire global auto industry not including Tesla. The DeepSeek revelation was shocking, but not surprising: A Chinese company knocks off an expensive U. This is double the valuation the firm raised at four months ago and a similar valuation to TikTok parent Bytedance. IP theft and addiction are both great businesses. However, crime pays more as OpenAI is being valued at 92x revenues, vs.
Bytedance at 2. Yesterday, I skirted along the edge of the atmosphere at four-fifths the speed of sound, traveling from London to New York in seven hours. Jet transport technology has changed the world.
