Amazon Unbound — with Brad Stone

Me Work

Scott Galloway introduces the concept of the "Me Work" phenomenon, highlighting how some billionaires profit while losing other people's money. He describes the "daily Benjamin burn rate" and "earn to burn ratio" as metrics to measure this trend, where executives earn commissions despite significant financial losses. Galloway questions whether society's interests align with those of these billionaires, urging reflection on our roles as citizens and family members 1.

It's one thing to make billions when you've created tens of billions for other people. It's one thing to have a wonderful, indulgent lifestyle. If you're providing that lifestyle, it's one thing to have a wonderful life when you are improving the lives of other people.

--- Scott Galloway

He also shares personal experiences, admitting the stress of managing others' investments and the moral complexities involved 2.

   

Burn Stories

Galloway provides vivid examples of the "burn rate" phenomenon, where high-profile individuals and companies have lost billions. He recounts the story of Quibi, a short-lived video service that burned $1.7 billion in just 750 days, and his own experience with the New York Times, where he turned $600 million into $350 million 3.

During my 24 month tour of duty watching the Great Recession kick ad supported media in the groin over and over, I managed to turn $600 million into 350 million for a daily Benjamin burn of about $350,000 a day.

--- Scott Galloway

He also discusses Marissa Mayer's tenure at Yahoo, where poor decisions led to a $10 billion loss, yet she received $365 million in compensation 4.