George Hahn
Humorist, urbanist, satirist, sartorialist, minimalist, soloist, bicyclist, mid-century modernist on no one’s to-do list.
“Each year, $8 trillion worth of stocks and bonds trade hands. Of that $8 trillion, only $300 billion represents true investment, used to grow companies via IPOs or secondary issuances. And that's a problem. We've become a nation of arbitragers versus investors.”
The Prof G Pod with Scott Galloway · Tech Strategy & Big Tech · November 2026
Context
George Hahn is reading Scott Galloway's essay "Boys to Men" from the No Mercy / No Malice newsletter; the words are Galloway's. This section argues that markets and policy transfer value from the young to incumbents.
Transcript
…young populations are just more productive because old people want to stop working and relax, and they require more government assistance because they get sick and they want pensions. So the ratio of young to old people is an indicator of the productivity and the economic vibrance or potential of
a country.
The population bomb predicted in the 70s was half right. It has detonated, but it was an implosion. Democracy and capitalism need household formation, which means they need more economically and emotionally viable menu. To partner with women who've registered exceptional hard-fought gains. One of the primary reasons women terminate pregnancies is they feel they do not have a reliable partner. Each year, $8 trillion worth of stocks and bonds trade hands. Of that $8 trillion, only $300 billion represents true investment, used to grow companies via IPOs or secondary issuances. And that's a problem. We've become a nation of arbitragers versus investors. We arbitrage information, distributing whatever creates the most engagement versus pursuing the truth. We arbitrage fossil fuels and ignore the externalities. And worse yet, we arbitrage youth, milking them for capital and labor to enrich the incumbents. If there was ever a law that highlighted the war on youth, other than a minimum wage that's below the poverty line, student loan debt. Debt…
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