Scott Galloway Says 'There Is More Rage And Shame In America Because We Continue To Transfer Wealth From The Young To The Old'
In a recent episode of the 'Lost Boys' podcast, Professor Scott Galloway and the founder and managing partner of SkyBridge, Anthony Scaramucci, tackled what they say is one of the most urgent issues facing young men in America today: declining economic mobility and rising anxiety around money, work and status.
Galloway explained that for the first time in U.S. history, the average 30-year-old is doing worse than their parents were at the same age. 'That has never happened before,' he said. 'It creates rage and shame across the household, the neighborhood, the nation.'
Don't Miss:
Invest where it hurts — and help millions heal:.
Maximize saving for your retirement and cut down on taxes: .
A big part of the problem, he added, is how society has shifted wealth from younger generations to older ones. 'There is more rage and shame in America because we continue to transfer wealth from the young to the old,' Galloway said. This growing generational gap, he argued, is central to understanding why so many young people feel hopeless.
He argued this breakdown in generational progress has political consequences, explaining that this election was essentially a referendum on 'I don't care about trans rights. I don't care about territorial sovereignty in Ukraine. If my kid's not doing well, I want chaos, I want change.'
According to Galloway, constant exposure to wealth and status online intensifies these feelings. 'Two hundred ten times a day, you're notified on your phone that there are people... on Gulfstreams and partying in St. Barts,' he said.
Trending:
Even the successful feel left behind. Scaramucci shared a story about a 41-year-old millionaire venture capitalist who felt like a failure because JD Vance, also 41, had become vice president. 'We've lost our anchor,' Scaramucci said.
Both hosts encouraged young men to stop blaming themselves for everything. Galloway pointed out the darker side of meritocracy: If you believe everything is based on merit, then if you're not successful, it's your fault. He added, 'A lot of kids' failure is not their fault.'
When asked why young men in particular are struggling, Galloway pointed to biology and systemic disadvantages. Boys are maturing later and struggling more in school. 'An 18-year-old girl has a prefrontal cortex 12 to 18 months more developed than an 18-year-old boy,' he noted.
He also blamed an education system that favors behavior more typical of girls. 'Sit still, be organized, raise your hand, be a pleaser. You're essentially describing a girl,' he said.On top of that, Galloway said dating apps and online life have made things worse. Many average young men are excluded from the dating pool, never ask someone out in person, and retreat into screens. 'Fifty percent of 18- to 24-year-old men have never asked a woman out in person,' he said.
Both hosts stressed that success often comes after repeated failure. Galloway shared his own track record: four failed high school elections, rejected from UCLA–then admitted on appeal–denied by seven out of nine business schools, and multiple business failures. 'My superpower is the ability to move through failure without losing my sense of enthusiasm,' he said.
Scaramucci added, 'I failed upwards. I stumbled a lot in my career.' Ultimately, he says he stayed in the game, and that's how he made it.
Read Next:The average American couple has saved this much money for retirement —?UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
Get the latest stock analysis from Benzinga?
APPLE (AAPL): Free Stock Analysis Report
TESLA (TSLA): Free Stock Analysis Report
This article Scott Galloway Says 'There Is More Rage And Shame In America Because We Continue To Transfer Wealth From The Young To The Old' originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Penn State, UCLA Take Private Equity Funding Deal With Elevate
Penn State and UCLA have become the inaugural partners in Elevate's newly unveiled $500 million College Investment Initiative, according to three individuals familiar with the situation. Accordingly, the two Big Ten institutions have emerged as the first known universities to formally embrace private capital as a means of funding their athletic departments—signaling a significant milestone in the growing convergence of institutional capital and intercollegiate athletics. More from Elevate Opens $500M College Sports Fund With Texas PSF, Velocity College Sports Commission Gives off Nonprofit Web Impression Colleges Prep for Athlete Title IX Lawsuits of the Revenue-Share Era Elevate formally introduced its college sports fund on Monday, revealing that two universities had already committed, but withholding their names. The fund is backed by private equity firm Velocity Capital Management and the Texas Permanent School Fund, a special-purpose government corporation that supports the state's schools. In a telephone interview, Elevate chief business officer Jonathan Marks declined to confirm the schools, but said they would be announced in the coming weeks along with potentially others. Representatives from UCLA and Penn State did not immediately respond to requests for comment. While neither Big Ten institution had previously been considered a frontrunner in the movement toward private financing, their participation is hardly surprising. Both rank among the top 25 in athletic spending among FBS public universities, per Sportico's college sports finance database, yet neither enjoys the same financial stability as some of their high-spending peers. For UCLA, the embrace of private investment comes amid prolonged fiscal distress. Now competing in the Big Ten following the dissolution of the Pac-12, the Bruins' athletic department has grappled with persistent deficits. Recent NCAA filings show a nearly $52 million shortfall in fiscal year 2024—even after receiving a $30 million campus subsidy. Over the past six years, the program has accrued close to $220 million in debt tied to athletics, highlighting the urgent need for alternative revenue streams. At Penn State, a similar financial recalibration is underway. In February, the university introduced a slate of new fees—including additional charges on season and single-game tickets, parking and in-stadium purchases—to establish its 'Legacy Fund,' designed to support mounting athletic department expenses from scholarships to facility improvements. Following Judge Claudia Wilken's final approval of the House v. NCAA settlement last week, Penn State athletic director Pat Kraft wrote an open letter announcing the Nittany Lions' intention to spend the maximum of athlete revenue-sharing allowable (roughly $20.5 million in 2025-26). 'While change can be difficult, it also can provide new opportunities, and I assure you we will embrace every opportunity this new model creates,' Kraft wrote. Over the past three years, universities, athletic conferences and private investors have engaged in ongoing discussions as the college sports economy shifts toward a model that increasingly acknowledges and compensates its athlete workforce. In this evolving landscape, it is fair to assume that nearly every Power Four institution—along with a growing number of non-P4 schools—has at least explored the potential implications of incorporating private capital into their athletic operations. Florida State University emerged as a notable early mover, becoming the first known institution to actively pursue private investment in its athletic department. In 2022, FSU initiated discussions with private equity firms Sixth Street and Arctos Partners under an in initiative internally dubbed 'Project Osceola.' While the talks demonstrated significant initial interest and ambition, the effort has yet to yield a formal agreement. Nevertheless, the initiative served as a clear signal to the broader market: Intercollegiate athletics may be prepared to venture into heretofore uncharted territory to maintain competitiveness in an increasingly professionalized landscape. With the pace of that transformation accelerating, many anticipated a wave of deals—whether through private equity, private credit or alternative financing structures—would soon materialize. Yet to date, such transactions have remained largely theoretical. In May 2024, RedBird Capital and Weatherford Capital—co-founded by FSU trustee and former Seminoles quarterback Drew Weatherford—unveiled Collegiate Athletic Solutions (CAS), an investment platform designed to deploy between $50 million and $200 million into select major athletic departments. Despite the ambition and capital behind the fund, CAS has yet to finalize or publicly announce any completed partnerships. Some universities that initially appeared to be strong candidates for private equity investment—such as the University of North Carolina—were ultimately put off by Wall Street's expectation for immediate returns. 'We have been approached numerous times about different private equity options, but nothing was appealing enough for us to pursue any further,' UNC athletic director Bubba Cunningham told Sportico last August. 'The cost of capital for us is fairly low. They've got some good ideas and thoughts about some other uses of the capital, but we're not there yet.' The Big 12—arguably the most enthusiastic supporter of private capital among the conferences—recently came to a similar conclusion after a year-long evaluation process that reportedly included discussions with global investment firm CVC Capital. Meanwhile, the Big Ten, which was previously lukewarm on the idea, retained investment bank Evercore earlier this year to begin soliciting preliminary PE pitches. Best of Tennis Prize Money Tracker: Which Player Has Earned the Most in 2025? World's 50 Most Valuable Soccer Clubs 2025 Rankings NBA Playoff Games Really Are Different, Data Shows
Los Angeles Times
11 hours ago
- Los Angeles Times
Being Jewish on campus amid Trump's campaign against antisemitism: ‘tremendous heartache'
Protesters were chanting slogans Alyssa Wallack had never heard at USC, shouting so loudly that she thought demonstrators were inside the lecture hall where she was attending class. 'Globalize the intifada!' she recalled hearing. 'From the river to the sea...,' they yelled. It was Oct. 17, 2023 — 10 days after Hamas launched a terrorist attack against Israel that killed about 1,200 people and took hundreds as hostages. Wallack, who is Jewish, said she had to 'escape.' 'I freaked out, and I ran out of class and started sobbing,' said Wallack, 23, who served as student board president of USC Chabad. 'It felt like everyone was against me, which I know is not so accurate. But I just remember sitting in my class, not able to learn. ...Were some of the people who I thought were my friends part of these protests, chanting things that were not only offensive but also antisemitic?' In the months ahead, Wallack said, she didn't feel safe on campus. She wasn't alone. Other Jewish students at the University of Southern California said that after the Hamas attack — and the war it triggered — they, too, felt unsafe amid pro-Palestinian protests. At UCLA, where a large encampment sparked a violent confrontation that led to dozens of arrests, Jewish students expressed similar sentiments. As the academic year draws to a close — USC's commencement was last month, UCLA's is in mid-June — The Times interviewed 12 Jewish students and professors at the universities who reflected on their campus experiences since Oct. 7. They wrestled with two questions: Did you feel safer this school year? And did Donald Trump's campaign against antisemitism have anything to do with it? The complexity of their answers was, for some, rooted in Trump's aggressive move in a Jan. 29 executive order 'to combat the explosion of antisemitism on our campuses' and 'investigate and punish anti-Jewish racism in leftist, anti-American colleges and universities.' His actions — coming amid a surge in violence targeting American Jews, from Colorado to Washington D.C. — have included attempts to deport college students who've espoused pro-Palestinian views. Trump's offensive — aimed at mainly elite universities, which he claims have enabled antisemitism — has roiled academia, with billions of dollars of federal funds threatened or withheld. USC and UCLA are among the schools under investigation by a Department of Justice 'task force to combat antisemitism.' Yet, some students and professors said Trump is using antisemitism as a cudgel to achieve his political objectives and exert his influence over higher education. A few doubted the president's sincerity and questioned whether his tactics would, in the long run, leave American Jews better off. David N. Myers, a professor of Jewish history at UCLA, said that slashing federal funding for universities because of their response to campus antisemitism points to the 'very cynical and completely misguided nature of this campaign.' 'It's not about antisemitism,' he said. 'It's about enfeebling and dismantling the university, in which Jews actually have a very huge stake. ...I think many, many, many people or groups will suffer, including Jews.' Following the start of pro-Palestinian demonstrations last year, both USC and the University of California implemented new, stricter protest rules or began enforcing existing ones, such as their bans on encampments. At UCLA, protesters cannot wear masks or block paths, and demonstration areas are restricted. USC, a private university, has closed campus gates and requires identification to enter. A relatively calm academic year at UCLA and USC followed. Yet jarring recollections endure. UCLA junior Gal Cohavy, 20, recalled two encounters last spring: One friend was physically threatened, and another struck in the head with a water bottle. Other actions were, he said, alarming: 'Walking around campus with a kippah on, I saw a swastika.' Cohavy began carrying pepper spray. Many Jews have taken issue with Israel's war in Gaza and the country's treatment of Palestinians, and protested the Jewish state's actions alongside like-minded activists. Some have also spoken out against Islamophobia, and pointed out that Trump has taken no action in response to reported increases in anti-Muslim harassment or discrimination. Myers said he didn't feel unsafe last year — what he felt was uncomfortable. That's because he believed it was necessary to condemn both the Oct. 7 attack and 'the excess of Israel's response in Gaza.' 'There is a distinct feeling for me of not fitting into either of the two most prominent camps,' he said. 'I felt some sense of aloneness.' Asked if he still felt that way, Myers paused. 'Yeah, to some extent.' Nearly all of the Jewish people interviewed for this story expressed pro-Israel views, to varying degrees. Although most said they felt safer this year, nearly every discussion was laced with caveats — a reflection, perhaps, of how personal the issue has become. And traumatic. 'It wasn't just unsafe — it was traumatizing,' said USC professor Hagit Arieli-Chai, who teaches modern Hebrew. Encountering protesters and their anti-Israel signs and slogans last spring, she said, forced her to confront 'hatred ... in unequivocal ways.' Arieli-Chai, who said one of her cousins was killed in the Oct. 7 attack, tried to avoid campus, going there only to teach. Some said they attributed an improved sense of campus safety to tightened university protest polices, or other factors — and not Trump. Others praised the president. And yet another group said it's hard to pinpoint reasons. 'It strikes me as a false claim to knowledge for anyone other than a trained sociologist who's done a serious survey ... to say it's because of' one factor or another, said David Nimmer, a professor from practice at UCLA School of Law. Some who credited Trump for an improved campus climate expressed a sense of discomfort, worrying about billions of dollars in potential funding cuts across higher education and an illiberal stifling of speech, among other issues. 'I am not the slightest supporter of the Trump administration,' said Nimmer. But, 'to the extent that anyone comes in and diminishes ... antisemitism, that is a step in the right direction.' A few questioned the sincerity of Trump's support of the Jewish people. 'Now we're being used to justify, I would say, frankly, illegal actions [in] the case of the administration,' said Dylan Julia Cooper, 22, who graduated from USC in May. 'We are being used for his own goal of ... taking out anybody who disagrees with him.' Yoav Gillath, 22, who also just graduated from USC, said he 'wanted to believe' that the president's goal was fighting antisemitism — but wasn't sure how to interpret the administration's actions. 'I wish they were more transparent with exactly why they're making the decisions that they are about various universities,' said Gillath, 22. UCLA senior Bella Brannon said she is troubled by Trump administration funding cuts to 'life-saving research.' But she said, overall, 'Jewish students are happy to see some sort of action taken.' 'For far too long, nobody was even upholding the rules and policies that were in place — not to mention the law,' she said of universities' response to antisemitism. 'It's absolutely no surprise that the government is taking action.' One word came up in several interviews: 'angst.' 'I have a tremendous amount of angst every day,' Nimmer said. 'I am ... someone who is devoted to democracy. And yet I feel that the duly elected leader in the United States and the duly elected leader in Israel are both tearing down the very structures on which the countries are founded. And it's causing me tremendous heartache every day.' The mix of dread and relief reflected in some comments also appeared in the nonpartisan American Jewish Committee's recent open letter that praised a federal task force on antisemitism but warned about the effect of deep cuts at universities. 'We are concerned that ... lifesaving scientific research and other critical fields that have little connection to the areas where antisemitism has manifested may be harmed by arbitrary, across the board cuts to grants and research contracts,' the letter said. Last spring, Westwood was suffused with rage. The encampment erected by pro-Palestinian activists became a global news story in May after a melee instigated by pro-Israel counterdemonstrators erupted. UCLA's inability to stop it sparked intense criticism. The violence, among the university's darkest chapters, brought change. Those interviewed noted a turning point: Julio Frenk — whose German Jewish father fled Nazi Germany in the 1930s — becoming chancellor on Jan. 1. The university has also overhauled security and hired LAPD veteran Steve Lurie to lead the new Office of Campus Safety. Noting the 'pain and fear' that antisemitism had brought on campus, Frenk said, 'UCLA is unwavering in its commitment to building a campus community in which Jewish students — and all members of our community — feel safe, respected and welcome.' Senior Mia Toubian, 20, who is news editor of Ha'Am, UCLA's student-run Jewish newsmagazine, praised Frenk for banning Students for Justice in Palestine as a campus organization in March following a protest the group held in front of a UC regent's house that was vandalized. 'It's gotten a little bit better,' said Toubian, 20, who added that she feels 'relatively' safer now, but 'objectively still not completely safe.' Brannon, the magazine's editor in chief, recalled how she was followed home after covering a protest last spring. 'I got really, really scared,' she said. Once, she was spat at while walking to class. But Brannon, 22, feels less safe now. That's partly because, she said, the 'fringe of the fringe' have continued to demonstrate with few repercussions. She noted a recent incident that illustrated how — even with UCLA's tighter rules — ruptures still occur. In March, pro-Palestinian demonstrators blocked access to a campus building, draping it with a banner that equated UCLA police and the Israeli military with the Ku Klux Klan. They evaded law enforcement. 'I'm worried that without sanction, it is getting more unsafe for Jewish students,' Brannon said. Lurie said that when police approached the building to arrest those blocking the entrance, they 'ran and kind of scattered.' The protesters' faces were covered, he said, making it impossible to identify them via recordings. But some at UCLA said the changes have been dramatic — for the better. Sharon Nazarian, founder of the Younes & Soraya Nazarian Center for Israel Studies at UCLA, noted a peaceful UCLA Hillel vigil and walk through campus to mark the first anniversary of the Hamas attack would have been 'unfathomable the previous academic year.' 'That,' she said, 'is a sea change for me.' A few USC students praised university leadership for protecting Jewish students. Ben Sheyman, 22, grew up in San Francisco, but his life as a Jew was partly shaped by his immigrant parents' experience in their home countries: Ukraine and Belarus — places where Jews were persecuted. When his family came to the U.S., it was supposed to be different. 'Here, you are as American as anybody else,' said Sheyman, who graduated this spring. But walking to class in the 2023-24 school year, Sheyman would see signs with slogans like 'End Zionism.' It was, he said, 'really unsettling.' Still, Sheyman felt unsafe just once, when a crowd of masked protesters held items emblazoned with 'Nazi symbols,' he said. The tighter security changed things for the better, he said. Cooper also felt safer in recent months, but related an upsetting run-in. She wears a Star of David necklace, and once, in the months after the Oct. 7 attack, a passerby hurled an extremely offensive Jewish slur at her as she walked near campus. She praised administrators' decision to close the campus gates, even if she has some reservations. 'Whether it's politically correct or not, I do feel safer,' she said. USC said in a statement that it 'continues to publicly and unequivocally denounce antisemitism in all its forms and has taken strong actions to protect all of our students ... from illegal discrimination of any kind.' It also touted the 'enhanced security protocols' and the launch of new mandatory seminars 'devoted specifically to free expression and civic discourse.' For some at USC, though, the fractures in their lives — the loss of friendships, the alienation from peers or professors — linger. People like Wallack. Her time at USC after the Oct. 7 attack was discombobulating. She left her sorority because she felt it did not voice sufficient support for Israel, and moved home. 'I don't really feel like I found my people at USC as a result of Oct. 7,' she said. Sitting in the shade at the USC Village in early May, Wallack touched her Star of David necklace and explained that she would not attend graduation ceremonies. Instead, Wallack departed for Israel. A business fellowship awaited.
Miami Herald
3 days ago
- Miami Herald
Scott Galloway sends strong message to Elon Musk about Bill Gates
Podcaster and New York University professor Scott Galloway is well-known for his provocative opinions and smart takes on business, finance and government. That fact includes Galloway's unconventional view on how Social Security ought to be run. It also involves some sharply critical words he recently spoke about Tesla CEO Elon Musk. Don't miss the move: Subscribe to TheStreet's free daily newsletter Galloway, who earns $16 million annually, contends that wealthy individuals, including himself, should not receive Social Security benefits. He advocates for means-testing to determine eligibility, ensuring that the program primarily supports those who depend on it for financial security in retirement. He highlights an imbalance in the system, pointing out that an employee at the company he owns, ProfG Media, earning $160,000 annually contributes $9,000 to Social Security, which amounts to 6% of their income. However, because Social Security taxes are capped at $160,000, someone earning millions - such as himself - still pays only $9,000, despite making exponentially more. Related: Scott Galloway warns Americans on 401(k), US economy threat Galloway sees Social Security as a safety net meant to prevent seniors from falling into poverty, rather than a mechanism for transferring wealth from younger generations to retirees who, collectively, are the most financially well-off generation in history. He argues that substantial reforms are necessary to reduce costs significantly. He believes that political leaders have avoided addressing the issue due to the risks involved, noting that older voters have managed to secure increasing financial benefits for themselves. Galloway asserts that this trend must end and that, by his math, approximately one-third of seniors should not be receiving Social Security. Appearing on a YouTube broadcast of Piers Morgan Uncensored, Galloway explained his view that a number of Musk's actions, such as spearheading the shutting down of USAID, were not to be respected. "Somehow we've decided in America that innovation and money replaces - or obviates, or excuses - depravity." Galloway said. "Or cutting off aid to HIV positive mothers, deciding what veterans should get benefits, cutting off SNAP payments, which have shown to have a positive net return when people run out of money for food at the end of the month." "I mean, I think one of the wonderful things about being an American and quite frankly, for me what it means to be a man and what I try to teach my boys, is the whole point of prosperity is such that you can protect people," he added. More on retirement: Dave Ramsey sounds alarm for Americans on Social SecurityScott Galloway warns Americans on 401(k), US economy threatShark Tank's Kevin O'Leary has message on Social Security, 401(k)s Galloway criticized Musk's behavior, arguing that wealth and success should not excuse problematic actions. According to Galloway, when someone publicly makes offensive gestures such as apparent Nazi salutes, is largely absent from their children's lives, or reportedly struggles with substance abuse, it raises serious concerns. He questions whether such a person should be considered an aspirational figure for young men. Galloway urges people to reflect on how money and status can distort public perception, noting that Musk's achievements - whether in aerospace or autonomous vehicles - are remarkable. However, he challenges the idea that these accomplishments justify moral failings, asking whether society should overlook unethical behavior simply because someone is a visionary or the richest person in the world. Related: Dave Ramsey warns Americans on Social Security Galloway discusses Musk's behavior and mentions billionaire Bill Gates as an example of an immensely wealthy person who is putting his money toward philanthropy and making the world a better place. "Does that mean unlike Bill Gates, he's not using his billions to help people?" Galloway asked. "He's not planting trees the shade of which he won't sit under. I think this is an individual who has literally come off the tracks ... and is using his immense power to get people elected." "Too many of us excuse what is abhorrent behavior," Galloway added. "I think his legacy is not going to be an EV or putting rockets into space. I think it's going to be unnecessary death, disease, and disability of the world's most vulnerable. That is not what it means to be an innovator. It's not what it means to be an American. It's not what it means to be a man." Related: Shark Tank's Kevin O'Leary sends strong message on Social Security The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
