The Prof G Pod with Scott Galloway Office Hours: YouTube’s Copyright Problem, Teaching Kids About Money, and Choosing Entrepreneurship
May 2, 2022
Explore the complexities of copyright issues on YouTube and how big platforms often overlook moderation. Discover effective strategies for teaching kids about personal finance, highlighting the significance of earning and saving. Dive into the balancing act between entrepreneurship and corporate life, discussing the motivations and risks of starting a business versus working for established companies. This insightful conversation offers valuable advice on navigating today’s financial landscape and career choices.
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YouTube's Copyright Problem
- YouTube's copyright problem stems from regulatory arbitrage and their massive scale.
- They claim low violation rates, but billions of views likely infringe on IP, impacting creators' earnings.
Crypto Trading with Son
- Scott Galloway opened a Coinbase account with his son to teach him about cryptocurrency trading.
- His son learned a valuable lesson by losing most of his initial investment.
Teaching Kids About Money
- Connect effort with money by giving children chores and allowances, letting them decide how to spend their earnings.
- Teach financial literacy early on, discussing family finances openly and emphasizing saving.