How Leverage Turned An AI Boom Into A Crash

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**Scott Galloway** (0:55)
Today's number, 21.4 million. That's how many Americans use marijuana daily in 2025, making it the most frequently used substance above alcohol at 17.2 million. Ed, I do believe if the entire world got high together for a couple of hours, it would be a better place, and then we'd have a global food shortage.
That number blew me away. I mean, granted-

**Ed Elson** (1:27)
It's a great number.

**Scott Galloway** (1:28)
I'm 90 percent of that, but still, what are these young people doing?

**Ed Elson** (1:33)
It's kind of interesting to me. I feel like none of my friends are smoking weed or eating weed or however they're consuming weed. None of them are really doing it in my friend group. I'm not doing it either.
I'm kind of surprised to see it. But I guess it's just the decline of alcohol.

**Scott Galloway** (1:50)
Are they drinking? Are they doing mushroom chocolates? Are they just trying to pay off their student loans from Princeton?

**Ed Elson** (1:56)
A lot less substance use at this age. I would say a few years ago, there was a uptick in the mushroom chocolates and the psychedelics and all of that stuff.
But it does seem like everyone's trying to get into that stage where they're getting their shit together and it's like, okay, do I really want to piss away not just tonight, but the several days after with a hangover. Certainly ketamine was a thing back in the day.

**Scott Galloway** (2:23)
Ketamine back in the day? Wow, God, I feel old.
I miss that.

**Ed Elson** (2:27)
Yeah, well, I'm saying back in the day means 18 months ago.

**Scott Galloway** (2:31)
Last summer at a party in Mykonos. Yeah, from the age of when I got out of UCLA, we spent a lot of pot in college. But from 22 to 30, I don't think I did much of anything.
I was just working all the time and I don't know, just didn't really drink or smoke.

**Ed Elson** (2:52)
That is my criticism of myself right now. I think I need to be having more fun than I'm currently having.

**Scott Galloway** (2:59)
I've got much better criticisms than that. I can help out there. I can make that seem like one of your better qualities.
Yeah, I had that kid, Jack Raines, on the Prof G office hours talking about, his whole thing is, make sure you have some fun in your 20s. You don't want to give up your 20s. But my sense is, my sense is young people will always find time in a way to have fun. I'm not worried about that.

**Ed Elson** (3:28)
Are you still a marijuana user?

**Scott Galloway** (3:30)
I do edibles probably once or twice a week when I'm having trouble sleeping, but I don't smoke. I don't really do.
I'm taking down my drinking substantially because I do realize a 51-year-old liver cannot process the way I did at 21

**Ed Elson** (3:46)
Is the edible, when you take the edible, is it just to go to sleep or are you having fun watching TV, messing around, or is it literally just I'm going to take the edible and then I'm going to go to bed at full speed?

**Scott Galloway** (3:57)
For me, quite frankly, it just quiets the mind. My mind starts firing at about 11 PM.
If I feel especially, not anxious, but just awake, I'll take a small five milligrams of an edible and this brand I like called Wild Time that I get at the Spencer and Aspen pear flavored. And it just kind of quiets my mind and makes it easier for me to sleep. But I don't think I ever do drugs outside of the house. I just abuse drugs home alone as I'm playing video games.