The Prof G Pod with Scott Galloway - Office Hours: Why AI Is Not Taking Your Job, How to Create Opportunities for Others, And Advice on Taking Care of a Sick Parent

Episode Date: May 3, 2023

Scott gives his thoughts on AI’s impact on the labor market. He then gives advice on how to create opportunities for others once you’ve set yourself up for success. He wraps up by sharing how he showed up for his mom at the end of her life. Music: https://www.davidcuttermusic.com / @dcuttermusic Learn more about your ad choices. Visit podcastchoices.com/adchoices

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NMLS 1617539. Welcome to the PropG Pod's Office Hours. This is the part of the show where we answer your questions about business, big tech, entrepreneurship, and whatever else is on your mind. If you'd like to submit a question, please email a voice recording to officehours at PropGmedia.com. Again, that's officehours at PropGmedia.com. Again, that's officehoursatprofgmedia.com. I have not heard or seen these questions. First question. Primera pregunta. Hey, Prof G.

Haley here coming to you from beautiful Southern California. I'd love to get your take on early and mid-career professionals AI-proofing their job prospects. I work in business operations and human capital, and I've been thinking about pursuing a lengthy and expensive certificate in financial forecasting and compensation analysis. However, I'm nervous to invest in something like this, knowing that it's an area that could very well be dominated by AI in the coming years. Should young people really be pursuing things like data analysis, copywriting, potentially even software engineering, knowing what we know about the potential for AI in the workforce in coming years? Would love your advice and thanks

so much for all you do. Thank you, Haley. I think a lot of young people are struggling with this, trying to read the tea leaves around what AI, this sort of transformative tectonic shift in the plates of technology in our economy might mean for their own efforts in terms of where they apply their human and financial capital. around the world. Don't know how they came up with that number. They found about two-thirds of current jobs are exposed to some degree of AI automation and estimated that up to 25% of all work can be done by AI completely due to generative AI. According to the report, white-collar workers, including administrative workers and lawyers, will be the most affected. Manual and outdoor jobs will see little effect. That's what's interesting about this kind of disruption, if you will. Usually, it's people in low-skilled jobs that are most vulnerable, right? The cotton gin comes in or, I don't know, robotics. I guess manufacturing floor technology was sort of kind of mid or blue collar, but it wasn't lower wage work.

But this is really kind of going after sort of upper middle class jobs. When I think of the person who's most at risk here, I think of a lawyer or I think of a law firm that does good work but pretty rote work, and it will draft a lease for you that is not perfect, but gets you 80% of the way there and replaces the junior lawyer or the paralegal. Now, the person who got the business, the person who's thoughtful about new ideas around structuring a lease, the person who thinks about how do you finance the property, project, whatever, those people are going to be even more valuable. And that is, if you can figure out a way to harness AI, if you can figure out how to make it become the warrior that goes around with the sharpest, basically takes your sword and turns it into basically to

a weapon, you're going to make a lot more money. But part of that skill is really understanding your domain. It's also very difficult to predict where any of this is going. So I would say if you have an aptitude for finance, if you have an aptitude for financial forecasting and compensation analysis, then sister, get great at it. Now, talk to a couple of people, make sure you're just not going to a degree mill. You didn't give me much background that there is some value to the certification. You really are going to learn something here. But finance and the ability to understand numbers, and more importantly, be able to connect it to the business is always, always important. In sum, AI is not going to take your job. Someone who understands AI is going to take your job.

And if you can, A, really have fantastic deep domain expertise in any domain, and at the same time start experimenting with different generative AI models and become great at it, and not only be the comp person or the compensation analyst that understands compensation analysis and finance, but understands how to get two-thirds of the work done by using some sort of generative AI, LLM, then you're going to rise to the top. Every technology has sort of a flight to quality effect, and that is the people who are most valuable make more money, the people who are most skilled make more money, and there's a crowding effect to the most people in each domain. In addition, I believe that this is going

to create more jobs than it destroys, and this is where I'm going against the grain because I'm a rebel. How do you say rebel in Espanol? I don't know. No say. But anyways, I think it's going to create more jobs. Look at the history of technology. Every time a new technology comes on the scene, there's fear and there is some disruption. There is some job loss. And then more jobs end up replacing the jobs that have been destroyed. We saw manufacturing and robotics coming. A lot of people on the shop floor more jobs end up replacing the jobs that have been destroyed. We saw manufacturing and robotics coming. A lot of people on the shop floor and automobile companies lost jobs. We couldn't have anticipated heated seats or car stereos, which created a lot of jobs. And new jobs come to make the world more productive and hopefully greater compensation.

We need to be more thoughtful about upskilling the people or retraining the people who lose those jobs. But my sense is you should absolutely just own something. And it sounds like you're blessed with some skill and knowing what you're good at and the opportunity to go really, really deep in something. And then, my sister, you understand how AI makes you, turns you into an infantry woman, into a fucking ninja warrior. Thanks for the question. Next question. Hey, Scott. I turned 40 in a few weeks and I've been reflecting. I know I was dealt a great hand and so far I haven't screwed it up. I'm a straight white cisgender man from a loving upper middle class family. And now I have a wonderful family of my own. I make a great living that isn't too taxing and I live within my means. Barring some unforeseen catastrophe, I'm on a glide path to getting rich slowly and I'll have options as I get older. At this point, I've made really safe, conservative career choices. Knowing I have a long work life ahead of me, I'm thinking about

two big things. First, how do I help create opportunities for people who didn't grow up with my advantages? And second, how should I measure professional risk knowing that I have a pretty solid ground and a solid safety net? In a way, I feel like these two things are connected. If I take the right risks with some asymmetric upside, I might be able to do good for a lot of people. Anyway, thanks for taking my questions

and for the thoughtful way you talk about fatherhood and masculinity. Really appreciate it. So first off, congratulations. And I hope that you take pause to reflect on not only how fortunate you are, but what you've accomplished. It's not easy to be in a long-term relationship

that's healthy. It's not easy to be a good dad. It's not easy to be a good partner. It's not easy to find something you're good at and make money. It's not easy to be good enough at it that you also have the discipline where you make good money and have discipline such that you spend less than you make. It's not easy to find ways to invest that money.

You essentially summarized a book I'm writing called The Algebra of Wealth, and that is you want to find something you're good at, hopefully something that people will pay you for, such you can make good money. You want to spend less than you for, such you can make good money. You want to spend less than you make, such that you save money and you can develop an army called capital, and you can deploy that army such that it starts fighting for you in your sleep. You want to diversify because nobody understands their surroundings and can predict what's going

to happen, and you might have some unwelcome surprises, but that's okay. Diversification is your Kevlar. No one bullet can kill you. It might hurt when a stock gets cut in half, but it's not a career-ending injury, if you will. And finally, it seems like you have the perspective to realize that time will go fast. So you just sort of summarized every best practice from this book I'm writing. In terms of how to help others, I don't think it's a question of what to do. I think it's a question of what not to do. I think of it as concentric circles. I think the ultimate definition of masculinity is acquiring the skills and strengths such that you can take care and advocate for others. But first, you got to fix your own oxygen mask. You got to take care of yourself. You got to be self-reliant. You got to be in good

shape. You got to be mentally strong. You got to surround yourself with people who love you and let you love them. The next circle out is you really want to take care of your family. And that sounds obvious, but I know a lot of very successful people who got rich, took care of themselves, and didn't notice that their daughter had an eating disorder or didn't notice or just had a shitty relationship with their son or were never really a partner to their wife, never really there for them. We're so caught up in their own success and their own ego. We're not in touch with their own emotions, whatever it might be. So the first circle out is your immediate family. Then you

can start using your skills and your strength to start helping people in your extended family and friends, maybe coaching a young man that might need some help, a friend's son that's struggling, a cousin, a nephew, whatever it might be, a niece that might need a little bit. You'll find spots. You'll find opportunities to help people in your extended family. And then the real baller move is to plant trees the shade of which you will never sit under.

And it's not necessarily just giving money, but it's being a good citizen. It's voting. It's getting. It's getting people registered to vote. It's finding organizations where you can leverage your time and talent to help other people. And I'm not talking about these nonprofit board, which mostly is people preening. It's like kind of the gateway to power. And I don't know, I served on a couple nonprofit boards and I thought it was mostly bullshit. That's a harsh thing to say. Anyways, but there's all kinds of ways to help, all kinds of ways to contribute. But it's like anything else. How do you eat an elephant? One bite at a time. The other thing I would say is at your age, it sounds like you're also thinking about a business or thinking about doing something that maybe sort of has some social purpose to it. I'm a big believer in that creating economic value is a wonderful thing for society.

I've created businesses. I've always thought that kind of the best thing I've done is have sons who will hopefully grow up to be good men and good citizens. But a close second is to create a lot of jobs such that people can not have that economic anxiety or less economic anxiety in their lives such that they can focus on the things that matter,

specifically relationships and also such that they feel a sense of purpose, feel a sense of pride, like themselves, love themselves, such that they can love others. So if you have an idea for a business or a way to extend your business or a way to make more money, then by all means, go for it. You're 40 years old and it sounds like you're a baller and you're just absolutely killing it. But the fact that you're even thinking this way, the fact that you're even contemplating or taking the time to be in the moment around this stuff at the age of 40 means one thing, boss, you should be mentoring me. God, I had my head up my ass compared to you at the age of 40.

At the age of 40, all I was thinking about was how do I get back the same bards? How do I meet cooler people? How do I meet hotter women? How do I spend more time in fabulous situations? How do I meet cooler people? How do I meet hotter women? How do I spend more time in fabulous situations? How do I get more money? Not even understanding, well, what was the point of any of it once you get it? You have graduated way beyond that and leapfrogged. If you want to start a business, then make sure that you're not spending too much of your own money or taking too big a risk because it sounds like you've had a lot

of success. And one of the things I did that was really stupid was I took too much risk. Whenever I got to a certain level of economic security, I would blow it all. I'd risk it all. I wouldn't be diversified enough. I'd go all in on tech and then 2008 comes and boom or whatever would have you. So keep diversified. But if you can find a way to make more money and create economic growth, there's good in that. But also someone like you is this thoughtful, I would say, and I'm biased here, find a way to get involved in young men's lives. Just a personal bias, getting involved in the lives of younger people, specifically younger men. But again, I just want to circle back to where I started. Good for you, my brother. Good for you. We have one quick break before our final question.

Stay with us. The Capital Ideas Podcast now features a series hosted by Capital Group CEO, Mike Gitlin. Through the words and experiences of investment professionals, you'll discover what differentiates their investment approach, what learnings what differentiates their investment approach, what learnings have shifted their career trajectories, and how do they find their next great idea. Invest 30 minutes in an episode today. Subscribe wherever you get your podcasts. Published by Capital Client Group, Inc. Hey, it's Scott Galloway, and on our podcast, Pivot, we are bringing you a special series about the basics of artificial intelligence. We're answering all your questions.

What should you use it for? What tools are right for you? And what privacy issues should you ultimately watch out for? And to help us out, we are joined by Kylie Robeson, the senior AI reporter for The Verge, to give you a primer on how to integrate AI into your life. So, tune into AI Basics, How and When to Use AI, a special series from Pivot sponsored by AWS, wherever you get your podcasts. Welcome back, question number three.

Hey, Prof G. I know you've spoken about your mother and how grateful you were to be able to show up for her at the end of her life. I'm seeking some wisdom and advice that you have based on that experience. I'm living in Los Angeles now, but I just accepted a job back in my hometown. Around the same time I accepted this job, I learned that my mother's health has taken a turn for the worse. It's still early days, and I'm not sure exactly what we're up against,

but I wanted to get your opinion on the matter. Are there things that you learned, regret, or hold close as memories on the other side of that experience? Love the show, and appreciate everything you do for young men. Man, I'm sorry. There's just no doubt about it.

When your mom's sick, it doesn't matter how much you think you're prepared for. The relationship between a child and his mother, I also think the relationship between different sex children and parents, I think there's just something very unique about the father-daughter relationship and the mother-son. And I think it's because there's a little bit of distance there. but it's very special. And there's just no getting around it. It sucks. And I'm sorry that you and your mother are going through this. So I don't know if it's the right way, but it was my way. But some of my learnings were that if you have some flexibility, if you could say to your job, I'd like to start a month late and just spend a lot

of time that month with your mom, you'll both treasure it. And I also want to acknowledge sometimes that's not possible. Two, take care of the caregivers. When your mom will get really sick, there are just certain things you can't do for her. It'll probably involve other family members, maybe if you have siblings or nurses or friends or whatever it might be. But I used to show up at my mom's place. I would leave Thursday night and I'd come back Sunday night. It was in Las Vegas and I was splitting time between Miami and New York. And I would spend Sunday through Thursday night there.

And a lot of what I did was try and give a break to the caregivers. Specifically, my mom's four sisters all took turns living with us. And I would try and help them out. Media, you can't consume enough media. I found that my mom's favorite media, Everyone Loves Raymond, Jeopardy, Friends,

we'd watch it all together. And then we'd go through old photos. We'd listen to old music. My mom was really into Barbra Streisand and Helen Reddy. And I'd buy these vinyl records and we'd listen to them together. And just going through old photos and giving her a chance to relive her life again

with someone she loved, me, and to just talk about it. That was very rewarding and just a lot of time together. You want to, if you will, let it affect your life, but you don't want it to reconfigure your life. One of the unfortunate things

or the fortunate things about serious illness is you don't know what it means. Our doctor said my mom had three months to live and she lived another eight. So I was commuting back and forth for eight months, which was fine. But several times the doctors or her sister would say, this is it. And I'd be tempted to just stay and not go back to New York or back to Florida. But you know what I did? I left. I would leave because most of the time, it wasn't that moment where she was gonna pass away. You just can't predict it. Death is very persnickety and very elusive. And I'm glad I did. I maintained some trajectory professionally and personally.

You have a life. The most important thing I would bet in your mother, the most important thing in the world to your mother is you, specifically her children. And while they want you to love them, they want to see you make an effort, they want you to be with them, they don't want you to put your life on hold. So make sure that you maintain some trajectory. Sure, make some changes to your life, but don't totally reconfigure it. Well, I'll stop or I'll close with the following. Every weekend I used to go to Florida during the winter. I would leave on Thursday night. I would go to Florida, go to Miami. I met a woman right as my mom was dying in Florida. At the time, it just seemed like it was going to be a ton of fun. We weren't very serious about each other. And here we are 20 years later. I met this woman at the Raleigh Hotel 20 years later. I have two sons, and my oldest son's middle name is Raleigh.

And had I decided to just live full-time with my mother, I never would have met my partner. And I don't think I ever would have had kids. I would have never had grandkids. And my youngest middle name is Sylvia, named after my mom. My mom would have adored him. He sounds exactly like her when he laughs. Long-winded way of saying, boss, that A, I am sorry. B, be there for your mother. But at the end of the day, your mom wants you to have a life. Don't be selfish, but be disciplined and ring-fence it and make sure that you get on with your life professionally and personally. Best to you and your mom. That's all for this episode. If you'd like to submit a

question, please email a voice recording to officehoursatproptimedia.com. Again, that's officehoursatproptimedia.com. Thank you. No Mercy, No Malice, as read by George Hahn, and on Monday with our weekly market show. What software do you use at work? The answer to that question is probably more complicated than you want it to be. The average U.S. company deploys more than 100 apps, and ideas about the work we do can be radically changed by the tools we use to do it. So what is enterprise software anyway? What is productivity software? How will AI affect both? And how are these tools changing the way we use our computers to make stuff, communicate, and plan for the future? In this three-part special series, Decoder is surveying the IT landscape presented by AWS. Check it out wherever you get your podcasts. Hello, I'm Esther Perel, psychotherapist and host of the podcast, Where Should We Begin, which delves into the multiple layers of relationships, mostly romantic. But in this special series, I focus on our relationships with our colleagues,

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