The Prof G Pod with Scott Galloway

The Crypto Meltdown — with David Yermack

Jun 23, 2022
David Yermack, a finance and business transformation professor at NYU Stern, dives into the recent turmoil in the crypto markets. He discusses the dangers of over-leveraging and the looming regulatory challenges facing the industry. Yermack parallels the current decline to past financial crises, emphasizing the need for effective oversight. The conversation also critiques the media's portrayal of cryptocurrency's impact, questioning its long-term value in the economy. Tune in for insights on navigating this volatile landscape!
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ANECDOTE

SpaceX Employee Firing

  • SpaceX fired employees who criticized Elon Musk's behavior.
  • This highlights the tension between labor and capital, especially in the information age.
INSIGHT

Shifting Labor Dynamics

  • Information age workers have enjoyed unprecedented leverage, but this might be changing.
  • Companies like SpaceX are demonstrating a return to traditional power dynamics.
ADVICE

Caregiver Classification

  • Companies should classify employees as "caregivers" and offer additional resources for caregiving responsibilities.
  • This addresses the social externality impacting work-life balance decisions.
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