Post Corona Quotes

“We like to position education as the great leveler. But in fact it has become a caste system, a means of passing privilege on to the next generation.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“This is the challenge with owning a restaurant. A large fixed cost—your lease—and little or nothing you can do about it, and because it’s a low-margin business with few sources of funding, there’s typically no capital cushion to survive lean times.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“A step backward, after making a wrong turn, is a step in the right direction. —Kurt Vonnegut”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“What we experience is change, not time. Aristotle observed that time does not exist without change, because what we call time is simply our measurement of the difference between “before” and “after.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“In the past decade, we have transitioned from an innovation economy to an exploitation economy. Innovation is dangerous and unpredictable. It changes market dynamics and creates opportunities for nimble new players to steal share from established players.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“How has my industry raised prices at this rate without improving the product? At a few elite institutions, including NYU, we’ve leveraged scarcity. More than a business strategy, it’s become a fetish—believing you are a luxury brand instead of a public servant. Ivy Leagues have acceptance rates of 4–10%. A university president bragging about rejecting 90% of applicants is tantamount to a homeless shelter taking pride in turning away 90% of the needy that arrive each night. And this is not about standards or brand dilution. In an essay explaining his decision to stop conducting application interviews for his alma mater, Princeton, journalist Bryan Walsh observed, “The secret of elite college admissions is that far more students deserve to attend these colleges than are admitted, and there is virtually no discernible difference between those who make it and the many more who just miss out.” In support, he offered this statement from Princeton’s own dean of admissions: “We could have admitted five or six classes to Princeton from the [applicant] pool.”4 So, with a $26 billion endowment, the question becomes, Why wouldn’t you?”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Costco is well positioned to buck the ugly trends in retail for a number of reasons, including 11 billion of them sitting in its bank account. Honeywell’s $15 billion will likely carry it into a post-corona land of milk and honey. Johnson & Johnson has nearly $20 billion—it’s not going anywhere. Every one of these companies will have their pick of the assets and customers left behind when their weaker competitors shut down. In every category, there will be more concentration of power in the two or three companies with the strongest balance sheets.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“My investing advice is simple: I only invest in unregulated monopolies. They aren’t supposed to exist, but our antitrust laws were written in the era of steam engines, and enforcement has been nonexistent.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“The youth suicide rate has increased 56% in a decade.36 Girls between 10 and 14 had a tripling of self-harm episodes between 2009 and 2015.37 Teens who are on social media for 5+ hours a day are twice more likely to be depressed than those who are on for less than an hour.38”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Consumers don’t want more choice, but more confidence in the choices presented. Choice is a tax on time and attention. Customers want someone else to do the research and curate the options for them.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Altruistic behavior decreases in times of greater income inequality. The rich are more generous in times of lesser inequality and less generous when inequality grows more extreme.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Gap years should be the norm, not the exception. An increasingly ugly secret of campus life is that a mix of helicopter parenting and social media has rendered many 18-year-olds unfit for college. Ninety percent of kids who defer and take a gap year return to college and are more likely to graduate, with better grades.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“The result has been disproportionate suffering. Lower-income Americans and people of color are more likely to be infected and face twice the risk of serious illness than people from higher-income households.7 For the wealthy, time with family, Netflix, savings, and stock portfolio value have all increased as commutes and costs have declined.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“If you believe in the power of markets, we should be putting money into the hands of consumers, not companies.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Higher education has become a caste system in substantial part because the rich now have a private educational system greasing the skids for entry to the best schools, and poor kids, except the truly exceptional among them, can’t compete.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Industries become ripe for disruption when existing players fail to adopt technological change to improve quality and value, as it may threaten their core business.”
― Scott galloway, Post Corona: From Crisis to Opportunity

“In any crisis there is opportunity; the greater and more disruptive the crisis, the greater the opportunities.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“you need to be right before you move, you will never win. Perfection is the enemy of the good when it comes to emergency management. Speed trumps perfection. And the problem we have in society is that everyone is afraid of making a mistake.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Cash is great for survival purposes, but the real gangster move is to be capital light, that is, to have a variable cost structure. Uber is the paradigm of this new model. The”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“In the pandemic, however, cash is king, and cost structure is the new blood oxygen level. Strong balance sheets mean capital to get through the lean times. Companies with cash, low debt or cheap debt, high-value assets, and low fixed costs will likely survive.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Companies with cash, with debt collateral, with highly valued stock will be positioned to acquire the assets of distressed competitors and consolidate the market.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“It took Apple 42 years to reach $1 trillion in value, and 20 weeks to accelerate from $1 trillion to $2 trillion (March to August 2020). In those same weeks, Tesla became not only the most valuable car company in the world, but more valuable than Toyota, Volkswagen, Daimler, and Honda … combined.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Government scientists were sidelined, and partisanship swamped sense. Team Blue hates Team Red because they are putting grandparents in danger by not wearing masks. Team Red hates Team Blue because they are infringing on liberty and threatening the economy over something that hasn’t impacted anyone they know. Then, once the virus overwhelmed us, we concocted a flawed economic bailout program. Red-state governors and blue university chancellors opted for politics and money over the health of the country and reopened prematurely.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“We’ve put billionaires on a pedestal and made wealth the signifier of worth—and it’s to be rewarded with . . . more wealth.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Wealth cushions the small blows—lost jacket, an overlooked electric bill, a flat tire—while insecurity magnifies them. Economic anxiety is similar to high blood pressure. Always there, waiting to turn a minor ailment into a life-threatening disease.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“The three richest Americans hold more wealth than the bottom 50%.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“In aggregate, international students contribute nearly $40 billion annually to the U.S. economy.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“the wealthy are wildly overrepresented in our colleges. Wealthy kids today are over twice as likely to go to college as poor kids, and over five times as likely to attend an elite school.8 At 38 of the top 100 colleges in America, including 5 of the Ivies, there are more students from the top 1% of income than there are from the bottom 60%.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“All these price increases have been enabled by the heroin of federally subsidized student loans. Student loan debt now totals $1.6 trillion, far more than credit-card debt or auto loans. The average graduate will carry nearly $30,000 in debt away from their virtual graduation.”
― Scott Galloway, Post Corona: From Crisis to Opportunity

“Choice is a tax on time and attention.”
― Scott Galloway, Post Corona: From Crisis to Opportunity