Markets are Ignoring Catastrophic Risks — ft. Aswath Damodaran

**Scott Galloway** (0:02)
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**SPEAKER_2** (0:38)
What does it really mean to be a neighbor?

**SPEAKER_3** (0:40)
It's just everyday people, you know, it's just people who are retired. They have a couple hours in the afternoon, so they're going to do patrols, and it's people who are, you know, real estate agents driving around, like trying to track how ice is moving and alert neighbors when things are not safe.

**SPEAKER_2** (0:59)
The rise of mutual aid and times of crisis.

**Preet Bharara** (1:02)
That's this week on Explain It to Me. New episodes, Sundays, wherever you get your podcasts. When the political winds change, will there be accountability for those who bent the knee for the Trump administration?

**SPEAKER_2** (1:17)
If these corporations think that the Democrats, when they come back in power, are going to play by the old rules and say, oh, never mind, we'll forgive you. I think they've got another thing coming.

**Preet Bharara** (1:28)
I'm Preet Bharara. And this week, Ambassador Susan Rice joins me to discuss leadership, decision-making, and the state of the rule of law in America. The episode is out now. Search and follow StayTunedWithPreet wherever you get your podcasts.

**Scott Galloway** (1:45)
Today's number, $792,000. That's how much Singapore is paying its athletes who win gold at this year's Olympics. Ed, why does Africa never win at the Olympics?

**Ed Elson** (1:55)
Why?

**Scott Galloway** (1:56)
Because it's a continent, dumbass, so racist.

**Ed Elson** (1:59)
I was going to say that, but I didn't want to ruin your joke. I couldn't tell if that could actually be the punch line.

**Scott Galloway** (2:05)
So insensitive. You and your millennial white privilege. What, did you go to Princeton?

**Ed Elson** (2:25)
How about that Singapore number? 792K, it's pretty good.

**Scott Galloway** (2:29)
I think they're getting the better end of the bargain because if someone from Singapore wins the Olympics, did you know Singapore has mandatory national service similar to Israel? Singapore is the most religiously diverse nation in the world, and they very deftly decided that we are going to be so prone to ethnic violence with all this religious heterogeneity that we need to get people more focused on the flag, and so they decided to do national service.

**Ed Elson** (2:58)
I think it's a great move. You also go to jail if you leave gum on the ground. But is that not true?

**Scott Galloway** (3:04)
That's actually not true. It's an offense, but I will tell you this though. I was in Singapore about a month ago, and you have never seen a guy my age go through his luggage more carefully to make sure that that joint from two years ago wasn't floating around in a pocket somewhere.

**Ed Elson** (3:21)
Has that ever happened to you? You accidentally had some detritus.

**Scott Galloway** (3:26)
Detritus?

**Ed Elson** (3:27)
Yeah. Some leftover paraphernalia.

**Scott Galloway** (3:31)
Detritus. I thought that was some sort of gum disease. I think I saw my periodontist for that. Now, I have a very healthy fear of prison, and I don't travel with edibles or I do travel with prostitutes.

**Ed Elson** (3:47)
Gabe, in the luggage?

**Scott Galloway** (3:48)
That was dark. Just like the guy who would think Africa is a country, not a continent. That was dark, Ed. Now, I don't travel with edibles.
No, I've never, I've had, I lose stuff at TSA, they don't find stuff on me, although they did pull aside Drew one time when I went to Mexico and brought him with me because I needed my technical support animal, Drew Burrows, to make sure that I could set up. And they pulled him aside and they basically said he had to pay, I don't know, a couple hundred bucks or a couple thousand bucks to get our equipment back. But you know, that's Mexico, that's just part of what you go through when you go to Mexico. But no, have you ever been caught with drugs, Ed?

**Ed Elson** (4:33)
No, that wasn't the point of that question.
No, I haven't. Thank God. Have you ever been arrested? Have you ever gotten in trouble with the law?

**Scott Galloway** (4:43)
No, I've never been arrested. I have been called several times by people who have been arrested. I'm that guy they call because they assume I'm rich and that I know I have contacts. And so I get those calls from prison. I've had three calls from people who have been arrested just in the last, feels like the last year, but it's probably the last two years.