Answered from Michigan Midterm Drama, Crypto Heist, and Guest Hillary Clinton · Pivot · 2026-11-03
Scott Galloway said he does not know when AI stocks will correct, but argued Alphabet and NVIDIA trade at lower price-to-earnings ratios than the average S&P 500 company despite fast profit growth, so they do not look like Cisco or pets.com in the dot-com bubble. His worry is circular financing, such as NVIDIA lending to Meta, which buys NVIDIA chips, and model labs relying on competitors for compute. He noted Apple beat the rest of the MAG-7 by staying out of the AI arms race.
Source: our own transcription of the episode. The full conversation is on Pivot (2026-11-03). Read the whole episode summary →