'Anyone Who Tells You To Follow Your Passion Is Already Rich,' Says Scott Galloway — After Turning Down $55 Million Offer
"The worst advice the billionaires give is 'follow your passion.' Anyone who tells you to follow your passion is already rich," he said on LinkedIn's "The Path" podcast in June. His philosophy flips a popular career mantra on its head—arguing that skills, discipline, and adaptability matter more than chasing dreams at all costs.
From UCLA to Prophet Payoff
Galloway once believed athletics would lift him out of poverty. After realizing that path wasn't his future, he earned an economics degree from the University of California, Los Angeles, and joined Morgan Stanley (NYSE:MS) in 1987, according to CNBC.
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But the finance world didn't fit. As he told "Record Decode" in 2017 the job felt unfulfilling and tedious, describing it as a "soul-crushing, awful place for awful people."
Restless, he left in 1992 to co-found the brand-strategy firm Prophet. In a 2017 "No Mercy / No Malice" newsletter, Galloway recalled that in 1999 the company was offered $55 million—about 11 times revenue—but he turned it down. "Three years later, after the market had rationalized, we sold for 2.3× revenues," he wrote.
Digital IQ Cashes Out
Galloway spotted the next wave — data-driven brand rankings — and launched L2 in 2010. The subscription research firm graded consumer brands' Digital IQ, benchmarking performance across e-commerce, social media and mobile. Its Digital IQ Index became a widely used benchmark for marketing leaders.
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Success drew suitors. In 2017, research firm Gartner Inc. (NYSE:IT) agreed to acquire L2 for $134.2 million up front, with additional contingent consideration bringing the total to approximately $160 million.
Grit Over Passion
His message resonates even more in today's job market, where opportunities are tightening. With openings down to 7.4 million in June — near post-pandemic lows, according to the Bureau of Labor Statistics — finding or switching jobs has become harder.
Galloway candidly shared that he's been beaned and shot professionally and personally—but each setback became a lesson, allowing him to pick himself up, raise more capital, and launch again, he said on Codie Sanchez's "The Big Deal" podcast in October.
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