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Scott Galloway (professor)

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Scott Galloway
Galloway in 2022
Born (1964-11-03) November 3, 1964 (age 60)
NationalityAmerican
EducationUniversity of California, Los Angeles (BA)
University of California, Berkeley (MBA)
Occupation(s)Professor, author, speaker, businessperson, entrepreneur
Websitehttps://profgmedia.com/

Scott Galloway (born November 3, 1964) is an American public speaker, author, podcast host, and entrepreneur.[1][2] He is a clinical professor[3][4][5][6] of marketing at the New York University Stern School of Business.

Early life and education

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Galloway grew up in Los Angeles, California.[7] His father was a Scottish immigrant to the United States who worked as a sales executive.[7] His mother, a Jewish immigrant from London, England, worked as a secretary.[7][8][9]

Galloway was rejected after his first application to the University of California, Los Angeles despite a 76% acceptance rate at the time. On his second application, the UCLA admissions director accepted Galloway, despite poor grades, because Galloway was a "native son of California" and deserved a shot.[10] He earned a Bachelor of Arts degree in economics in 1987, graduating with a 2.27 GPA.[10] Despite his grades, he was accepted into UC Berkeley Haas School of Business, graduating with an MBA in 1992.[11]

Career

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Following his graduation from UCLA in 1987, Galloway worked as a fixed income analyst at Morgan Stanley.[4]

In 1992, he founded Prophet, a brand and marketing consultancy firm.[7] In 1997, he founded RedEnvelope, an e-commerce site specializing in unique and personalized gifts.[4] In 2010, Galloway founded the digital intelligence firm L2 Inc,[12] which was acquired in March 2017 by Gartner for $155 million,[13] and the now defunct Firebrand Partners,[14] founded in 2005, an activist hedge fund that invested over $1 billion in U.S. consumer and media companies.[15] In 2019, Galloway founded the online education startup Section4. He raised $30 million in the Series A round in 2021 for a total funding of $37 million.

He was elected to the 1999 class of the World Economic Forum's "Global Leaders of Tomorrow", which recognizes 100 individuals under the age of 40 whose accomplishments have had impact on a global level.[16][17]

He has served on the board of directors of Eddie Bauer, The New York Times Company, Gateway Computer, Urban Outfitters, and Berkeley's Haas School of Business. Galloway is also known for his public presentations[18][19] and TED-style talks,[20] called Winners & Losers, in which he presented L2's Digital IQ Index results, ranking over 2,500 global brands[21][22] across numerous dimensions including e-commerce, social media, and digital marketing.[23][24][25][26]

Galloway teaches brand management and digital marketing to second-year MBA students. Much of his research focuses on the Big Four tech companies, Alphabet, Amazon, Meta, and Apple, which he refers to as "The Four" or "the Four Horsemen". His first book, The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google, was published in 2017. It analyzes the Big Four's peculiar strengths and strategies, their novel economic models, their inherent rapacity, their ambition, and the drastic consequences of their rise that people face in both social and individual terms.[27]

In May 2017, Galloway anticipated Amazon's acquisition of Whole Foods Market, a transaction that became reality the following month.[28] He denied any insider knowledge and said he was "just lucky" on that call.[29] In early 2018, Galloway predicted the planned Amazon HQ2 would be located in either the New York metropolitan area or the Washington metropolitan area; with the decision to create two locations, Galloway ended up predicting both correctly.[30]

In September 2018, Recode and the Vox Media Podcast Network launched Pivot, a weekly news commentary podcast co-hosted by Kara Swisher and Galloway. In February 2020, Galloway launched The Prof G Show, a weekly podcast answering listener questions on business, money, and tech.[31]

In August 2019, Galloway published a highly critical analysis of WeWork's initial public offering filing, criticizing the company's unprofitability as well as its culture, corporate structure, nepotism, and the evidence of self-dealing on the part of founder Adam Neumann, while also castigating JPMorgan Chase and Goldman Sachs, the investment banks underwriting the launch, saying that they "stand to register $122 million in fees flinging feces at retail investors. Any equity analyst who endorses this stock above a $10 billion valuation is lying, stupid, or both."[32]

On September 28, 2021, CNN announced that Galloway would be a host on its CNN+ streaming platform, though the platform went off the air shortly after launching.[33][34]

In 2022, Galloway's weekly newsletter No Mercy/No Malice won the Webby Award and Webby's People's Voice Award for best Business, News & Technology Websites and Mobile Sites.[35]

Positions

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Since 2017, Galloway has repeatedly called for U.S. government antitrust intervention against the four consumer technology companies Apple, Meta Platforms, Amazon, and Alphabet, ultimately breaking them up.[36][7] He advocated against Facebook's Libra cryptocurrency plans in July 2019 due to the company's "gross negligence of user privacy".[37] In 2019, he endorsed Michael Bloomberg's presidential 2020 candidacy as he "fulfills the Democrats' need for a strong centrist candidate".[38]

In December 2019, he called for the removal of Twitter CEO Jack Dorsey while declaring to own more than 330,000 shares of Twitter stock.[39] Relating to the 2015–16 Apple–FBI dispute, he sided with the U.S. government and said that "security agencies should have access to [personal] data wherever it is if a judge deems that data is key to people's safety or national security."[40]

Galloway has called for taxing endowments of universities whose enrollment growth is not commensurate with population growth, suggesting exclusivity makes such universities a "luxury brand" as opposed to a public service. He has written about growing up an unremarkable child of immigrant parents and has said the goal of universities should be to educate not just exceptional students, but also the unremarkable.[41]

As of March 2019, Galloway donates 100% of his NYU compensation back to the university.[42] He donated $4.4 million to Berkeley for immigrant student fellowships as well as smaller sums to UCLA and NYU.[43] In July 2024, he donated $12 million to UCLA and UC Berkeley to establish the UC Excelerator program.[44]

Galloway self-describes as an atheist.[45] He advises his students not to follow their passion, but to follow their talent.[46]

Personal life

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Galloway is married to his second wife, Beata Galloway, a real estate developer born in Poland, whom he met at the Raleigh Hotel pool in Miami.[47] They have two sons together.

Since 2022, he and his family have resided in London.[48]

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Galloway is played by Kelly AuCoin in the 2022 series WeCrashed.[7]

Books

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  • Galloway, Scott (2017). The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google. New York: Portfolio/Penguin. ISBN 978-0735213654. OCLC 973800907.
  • Galloway, Scott (2019). The Algebra of Happiness: Notes on the Pursuit of Success, Love, and Meaning. New York: Portfolio/Penguin. OCLC 1099925490.
  • Galloway, Scott (2020). Post Corona: From Crisis to Opportunity. New York: Portfolio/Penguin. ISBN 9780593332214.
  • Galloway, Scott (2022). Adrift: America in 100 Charts. New York: Portfolio/Penguin. ISBN 9780593542408.
  • Galloway, Scott (2024). The Algebra of Wealth: A Simple Formula for Financial Security. New York: Portfolio/Penguin. ISBN 9780593714027.

References

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  1. ^ Rogers, Bruce (April 6, 2016). "Professor Turned Entrepreneur Founds L2 To Benchmark Companies' Digital IQ". Forbes.
  2. ^ Liu, Betty (July 11, 2016). "This Entrepreneur Says Being Very Boring Is Going to Make You Very Rich". Inc.
  3. ^ "SCOTT GALLOWAY, PROFESSOR OF MARKETING". ASU GSV summit. Retrieved September 27, 2021.
  4. ^ a b c "Scott Galloway CV" (PDF). stern.nyu.edu. Retrieved September 27, 2021.
  5. ^ "Scott Galloway". NYU Stern School of Business. Retrieved September 27, 2021.
  6. ^ "Virtual Distinguished Leaders Lecture Series: Future of Higher Education FEATURING SCOTT GALLOWAY". University of Miami Business News Letter. 2020. Retrieved September 27, 2021.
  7. ^ a b c d e f Beam, Christopher (August 2, 2022). "Is Scott Galloway the Howard Stern of the Business World?". The New York Times. ISSN 0362-4331. Retrieved August 2, 2022.
  8. ^ Galloway, Scott [@profgalloway] (August 16, 2017). "Would a 4 year old London Jew (my mother--1939) have survived if Churchill placed "blame on both sides?"" (Tweet). Archived from the original on August 30, 2022. Retrieved April 6, 2023 – via Twitter.
  9. ^ Galloway, Scott [@profgalloway] (December 24, 2020). "I'm an atheist, but I have gods (role models). One of them is Norman Levene, my mother's father, who was a London tailor. https://t.co/lG5faPrjUF" (Tweet). Archived from the original on July 21, 2022. Retrieved April 6, 2023 – via Twitter.
  10. ^ a b WSJ News (May 13, 2024). Scott Galloway Describes the Tough Future Facing Gen Z | WSJ. Retrieved May 19, 2024 – via YouTube.
  11. ^ "NYU Stern – Scott Galloway – Professor of Marketing". New York University Stern School of Business. Retrieved September 25, 2019.
  12. ^ Silverstein, Sara (April 20, 2017). "SCOTT GALLOWAY: Why you should worry about a company if its CEO is in a fashion magazine". Business Insider. Retrieved April 23, 2017.
  13. ^ "Gartner 10Q March 31, 2017". SEC.
  14. ^ "Investor group ready for New York Times proxy fight". Reuters. February 22, 2017.
  15. ^ McLean, Bethany. "Philip and Lisa Maria Falcone: Falcone Quest". The Hive. Retrieved March 23, 2017.
  16. ^ "Scott Galloway – Professor of Marketing". New York University Stern School of Business.
  17. ^ "Class of 1999" (PDF). World Economic Forum. Archived from the original (PDF) on September 14, 2014.
  18. ^ Carlson, Nicholas. "Here's The Deck On 'Winners And Losers' Hedge Fund Managers Are Begging To See". Business Insider. Retrieved March 23, 2017.
  19. ^ "Scott Galloway to Keynote at Catalyst Americas 2017". Retrieved March 23, 2017.
  20. ^ "A must Watch video: The 4 Giants by Scott Galloway | Stellar Search". Stellar Search. February 22, 2016. Archived from the original on March 24, 2017. Retrieved March 23, 2017.
  21. ^ McGee, Chantel (April 4, 2017). "Amazon is becoming a 'more important search engine than Google,' says NYU professor". CNBC. Retrieved April 23, 2017.
  22. ^ Loeb, Walter. "NYU Professor Scott Galloway Is Bearish On U.S. Retailing, Sees Global Opportunities". Forbes. Retrieved May 10, 2017.
  23. ^ Daisuke WAKABAYASHI, Nick WINGFIELD (October 2, 2016). "Google, Lagging Amazon, Races Across the Threshold Into the Home". The New York Times.
  24. ^ Wingfield, Nick (March 31, 2016). "More Brands Mean Many More Buttons for Quirky Amazon Service". The New York Times.
  25. ^ Hope, Katie (February 5, 2016). "How social media is transforming the fashion industry". BBC News.
  26. ^ Dennis, Steven. "The Inconvenient Truth About E-Commerce: It's Largely Unprofitable". Forbes. Retrieved March 17, 2017.
  27. ^ Sreenivasan, Hari (January 15, 2019). "Scott Galloway Offers an Analysis of Silicon Valley". Amanpour & Company. Retrieved January 16, 2019.
  28. ^ Johnson, Eric (June 16, 2017). "NYU's Scott Galloway predicted Amazon's Whole Foods acquisition on Recode Decode". Vox. Retrieved March 7, 2020.
  29. ^ Galloway, Scott [@profgalloway] (June 16, 2017). "@blirwin @rjonesy nope...just lucky" (Tweet). Archived from the original on March 15, 2023. Retrieved April 6, 2023 – via Twitter.
  30. ^ Green, Dennis (February 12, 2018). "The professor who predicted Amazon would buy Whole Foods says only 2 cities have a shot at HQ2". Business Insider. Archived from the original on November 4, 2018. Retrieved November 14, 2018.
  31. ^ "The Prof G Show with Scott Galloway · Westwood One Podcast Network". Westwood One Podcast Network. Archived from the original on February 28, 2020. Retrieved February 28, 2020.
  32. ^ Galloway, Scott (August 21, 2019). "NYU professor calls WeWork 'WeWTF,' says any Wall Street analyst who believes it's worth over $10 billion is 'lying, stupid, or both'". Business Insider. Retrieved August 17, 2023.
  33. ^ "CNN Taps Scott Galloway As Host For New Streaming Service". Deadline. September 28, 2021. Retrieved September 28, 2021.
  34. ^ "CNN Plus Taps Scott Galloway to Host Biz-Tech Show: 'Think "Queen's Gambit" Minus the Talent and Production Values'". Variety. September 28, 2021. Retrieved September 28, 2021.
  35. ^ "NEW Webby Gallery + Index". NEW Webby Gallery + Index. Retrieved August 24, 2023.
  36. ^ It's Time: Break Up Big Tech. Gartner for Marketers. December 21, 2017. Archived from the original on December 29, 2022. Retrieved April 6, 2023 – via YouTube.
  37. ^ "NYU professor's warning about Facebook's cryptocurrency". July 8, 2019.
  38. ^ "Why Bloomberg might be the Dems best candidate". November 30, 2019.
  39. ^ "Scott Galloway wants Jack Dorsey replaced as Twitter CEO". December 9, 2019.
  40. ^ "Pivot: Gloves off over privacy, from Apple to Microsoft to Grindr. PLUS Scott's big 2020 bets". Apple Podcasts. Podcast sequence from minute 09:40. Retrieved January 19, 2020.
  41. ^ Galloway, Scott (March 15, 2019). "How I Got Here". No Mercy/No Mallace.
  42. ^ Galloway, Scott (March 15, 2019). "How I Got Here". No Mercy / No Malice. Occurs at 9:04 of embedded audio clip.
  43. ^ Girard, Kim (September 22, 2017). "Scott Galloway, MBA 92, donates $4.4M for fellowships for students from immigrant families". Haas School of Business, University of California Berkeley.
  44. ^ "UCLA, UC Berkeley Extension receive $12 million from Scott Galloway to help non-traditional students pursue careers". UCLA. Retrieved August 6, 2024.
  45. ^ "Scott Galloway Discusses the Algebra of Happiness (Podcast)". Bloomberg News.
  46. ^ "Self-made millionaire: 'Following your passion is bulls---'—do this instead". CNBC. February 18, 2019.
  47. ^ Galloway, Scott (May 5, 2017). "Cash & Denting the Universe". No Mercy / No Malice. Retrieved August 24, 2023.
  48. ^ Galloway, Scott (June 24, 2022). "All Ears". No Mercy / No Malice. Retrieved August 24, 2023.
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