Pod Insights The Prof G Pod with Scott Galloway Is AI Killing Entry-Level Jobs? And Why Senior Care Is Booming About this episode Scott Galloway breaks down whether AI is really impacting entry-level hiring, explains why he’s bullish on the senior care space, and offers advice for navigating career anxiety.
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Transcript 4,710 words · 10 speakers
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1:36 Scott Galloway? Welcome to Office Hours of Prop G. This is the part of the show where we answer your questions about business, big tech, entrepreneurship, and whatever else is on your mind. If you'd like to submit a question for next time, you can send a voice recording to officehoursofpropgmedia.com. Again, that's officehoursofpropgmedia.com. Or post your question on the Scott Galloway subreddit, and we just might feature it in our next episode. First question. Our first question comes from Jonah Klein on LinkedIn. Jonah says, "It seems clear to me that a big part of the reason for the dearth of entry and junior-level positions has to do with AI taking over much of the corporate grunt work that used to comprise much of what entry-level roles did. At some point, corporations are going to have to figure out who will be their future leaders if they aren't hiring entry-level talent. What do you make of this? And what do you think entry-level roles will look like
2:20 Scott Galloway? for recent college grads in an AI-driven corporate environment?" So new graduates now account for just 7% of new hires of big tech. That's down from 25% in 2023 and over 50% pre-pandemic, according to Forbes. So big tech has dramatically reduced new hires. Early evidence suggests hiring for junior workers is already declining in AI-exposed fields. A Stanford study found entry-level employment in AI-exposed occupations fell about 13% relative to less exposed jobs since generative AI adoption started to take off. The decline is concentrated among workers aged 22 to 25, while employment for more experienced workers in the same occupation remained stable or grew. The problem, as you referenced, AI is most capable of automating the tasks traditionally
3:05 Scott Galloway? assigned to junior employees. Some research here on large corporations models suggest around 80% of the workforce could have at least 10% of tasks affected by AI with knowledge work tasks, including writing, coding, and analysis especially exposed. However, you know, really, the labor, the labor market does not just reflect the, you know, job apocalypse that it was supposedly, we were worried was going to happen. There just hasn't, it's not easy to really find large-scale job licenses from AI. What I think you see is AI paralysis, kind of no hire, no fire. What's interesting, the most interesting thing about the labor market right now is one of the, I forget what the term is, but people looking for another job is at an all-time low. People are thinking, oh, maybe I'll just stick here.
3:50 Scott Galloway? Employment remains relatively resilient, suggesting AI is currently changing how work is done more than the total number of jobs, though hiring appears to be slowing. So people, people are asking you to be more productive with AI and saying, we're not going to hire as many people next year, but they're not laying off people yet. Research suggests the first rung of the corporate ladder may shift. Well, I should actually, I should condition that. There is some layoffs, there are some layoffs in big tech. They're the early adopters of AI. I think a lot of that is over-hiring from the pandemic. But when you lay off people, there's sort of a false flag going on around layoffs right now. If you lay off people, it's not because, oh, our business has slowed down, or I'm a fucking idiot and over-hired during pandemic. It's, oh, AI, right? We're, we're leveraging new technology because I'm so smart and my stock will go up if I
4:34 Scott Galloway? say we're going to be more productive because I can reduce 10% of the workforce and not lose any productivity because I know how to master AI, as opposed to saying we over-hired. Or, you know, our business is not, we're projecting business not going to be that strong. So a lot of people are blaming AI and it may not actually be accurate. So employment remains relatively resilient, suggesting AI currently changing how work is done more than the total number of jobs, as we said, although, again, hiring does appear to be slowing. Research suggests the first rung of the corporate ladder may shift toward AI-supervised analyst. Juniors validating and interpreting AI outputs. Higher skilled starting roles, fewer hires, but more technical expectations. And skill-based hiring, greater emphasis on practical AI literacy rather than just degrees. So this all kind of leads
5:19 Scott Galloway? to, you know, what you should do. First and foremost, buck up. When I graduated from business school in 2002, 1992, 40% of us had jobs on graduation day, which meant the majority, we're at commencement with our parents, you know, wearing the cap and gown, and the majority of us didn't have jobs. So this, and quite frankly, the younger generation is just used to people three or four years ahead of them having three or four offers at JP Morgan and Google. Yeah, it's gotten a little bit tougher, but it's still not bad. Youth unemployment is about 10%, which is kind of historically an average, if you will. Two, be AI-enabled. Any interview, you should be able to answer essentially
6:04 Scott Galloway? three questions now and forth. What's different about you? How does it apply that differentiation to being able to be good here? And how do you work on that differentiation? And then the fourth thing you need to ask is, how do you think AI is going to impact this job? And specifically, you have to demonstrate, you have to demonstrate AI literacy as it relates to that job. If you want to be in brand management at Estee Lauder, you've got to be able to communicate, this is how I've been using different LLMs to think about product launches or new product development, or how we make your media budget at Estee Lauder more impactful. No one says that we're not going to hire that person. They seem to understand a lot about AI. No one ever says that. So you need to add that to your
6:44 Scott Galloway? toolkit, if you will. Interview as many places as possible. Don't let perfect be the enemy of good. And recognize, no one's coming to save you. You have to get a job. I mean, and what I will say that- The economy is now where it has been for 99% of the world for 99% of history. And that is you have to go get a job. No one's coming for you. And also just recognize you could absolutely add value to a company and you're confident, but ask yourself before you go into the interview, what's different about me? Why does that differentiation matter at a company like this? What do I do to work on and establish and maintain that differentiation? And also find a way to incorporate into your rep how your AI literacy and AI domain
7:28 Scott Galloway? expertise will impact your ability to add value to that organization. Thanks for the question. Question number two comes from N. Williams, 7-32 on Reddit. They say, "Hey, Prof. G, I'm curious if you're looking at the senior healthcare space from an investment perspective. The way I see it, we have a growing demographic of people over 65 with the majority of wealth in the U.S. and rising life expectancies. Would love to hear your thoughts on the validity of this thesis, potential impact on society, and if you think this space is positioned well for investment." Oh, yeah. Disco. I read a thing on which companies are like have the highest failure and highest success rate, like clubs and restaurants have like a 10% success rate.
8:13 Scott Galloway? And the number one most successful business were like 94% with senior care. And this goes to one of my big themes that I tell my kids. You have ROI on the Y-axis. You have sex appeal, how sexy businesses on the X-axis. The line goes firmly and squarely down to the right as you go along the X-axis. Sexier the business, lower the return on your financial and human capital. You want to own a restaurant, a jewelry line, a club, going to sports, entertainment, Hollywood, anything that sounds cool, you better mean the top 10, if not the top 1% right away, because there's an overabundance, there's an overinvestment in human capital, meaning the returns are starched out. You want to start a...
8:54 Scott Galloway? SaaS company offering maintenance for healthcare workers that maintain X-ray machines, disco. That business is going to short grade ROI. The top half of tax lawyers make really good living. So top half of actors are unemployed. The senior space is really unattractive. We don't like to be around seniors. Right? They're, they're, they smell funny. Or you go into a place, a seniors home, and you think this isn't, this isn't where I want to hang out. And guess what? It's actually a very rewarding job. So anyways, senior centers, senior care, fucking amazing business. So the market, Peter Drucker, who's one of my role models from a professional standpoint, said every major shift in the economy or successful businesses are basically driven by demographics.
9:39 Scott Galloway? So the US population of people 65 plus reached 61.2 million in 2024. The census projects one in five Americans will be over 65 by 2030. The fastest growing and most care intensive group is the 85 plus population. People are living really, I, I read that the fastest growing cohort in America are people over the age of a hundred because there never used to be any of them. And now there's going to be a lot of them. Projected to grow from 6.5 million, this is people over 85 in 2022 to 13.7 million by 2040. So in just, in just 18 years, the number of people over the age of 85 is going to double. And that's from the US Department of Health and Human Services.
10:20 Scott Galloway? So another six and a half million people, if you're over 85, you need care of some sort, either a live-in or special services or someone dropping by or just specific niche services. So that industry is going to double over the next decade and a half. According to the Centers for Medicare and Medicaid Services, CMS, seniors account for a disproportionate share of healthcare spending. The average annual healthcare spending for someone aged over 65 is about $22,000 per year. That's roughly two and a half times higher than working age adults. I bet it's more than that. But think about it, this market doubled the number of people and they spent $22,000 a year on healthcare. Medicare spending continues to expand with the aging population.
11:01 Scott Galloway? Medicare spending reached about 1.1 trillion in 2024, growing seven to eight percent year over year. The financing layer around senior healthcare is also expanding. More seniors are getting their Medicare coverage through private insurance companies rather than this traditional government run Medicare program. Medicare Advantage enrolled, reached about 35 million people in 2026, meaning more than half of eligible seniors are now. In Medicare Advantage Plans, the labor market reflects this. So the Bureau of Labor and Statistics projects that home, health and personal care aid jobs will grow 17% through 2034, one of the fastest growing occupations in the US. So the demographic shift here is real.
11:43 Scott Galloway? America is aging rapidly and the most care-intensive population is 85 plus. So the addressable market is set to double. By the way, growth is everything. When I go, I was in Zermatt and it was fresh snow and went out and I thought, oh, I'm a pretty good skier. And then the snow got shitty and froze and then it reminded me, okay, no, I'm not. I'm a shitty skier. When you're in a growth market, it's fresh powder and you can just be very good without being very good. And that is, you'd rather be average in a growing market than great in a declining market because the, quite frankly, the winds are just in your sails. So a business servicing people over the age of 85, disco.
12:28 Scott Galloway? And I'm talking John Travolta disco, not like Casey and the Sunshine Band. Actually, I love Casey and the Sunshine Band. Anyways, if you want to start a business servicing people over the age of 85, champagne and cocaine, my brother. And the champagne is, none of your friends are going to want to do it because they don't want to be around old people. So there's a lack of investment from human capital. You can raise money because private equity and venture capital firms smell money around this population. And God, I'd love to put together that deck. My addressable market is about to double in the next 15 years. In sum, the big winners will likely be the companies that help the system care for older Americans, specifically 85 plus, at lower cost and outside the hospital.
13:09 Scott Galloway? Outside the hospital where costs are huge and quite frankly, the longer, the more time you spend. No one says, oh, you know, I'd be more comfortable in the hospital. People don't want to be in the hospital. I do think that's going to be, I think there's going to be, I wrote a book called Post Corona. One of my big things was dispersion, dispersion of work to homes, dispersion of education to computers. Also, I think there's going to be a huge dispersion of healthcare. I think the percentage of people who die at home, if you will, is going to explode. When my mom was sick, I said, okay, it sounds like we got about six months here. What's on your bucket list? And she said, I have two things. I want to go see my family and let me do that sooner rather than later because I'm obviously not feeling very well. But she said, more than anything, I just, I want to, I want to pass at home.
13:51 Scott Galloway? And so this was 2004. And quite frankly, it wasn't easy. I had resources and I'm creative and I was able to take time off of a leave from NYU. So I was able to orchestrate it, but it's not easy. A lot, that's another one. Eighty-five plus and helping people stay at home as long as possible. I think it's going to be an enormous business in some. It's a great fucking idea. It's a great idea. And lowest or highest success rate of any small business. Senior care. We'll be right back after a quick break.
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17:58 Scott Galloway? Welcome back. Question number three.
18:00 Speaker 05 Hi Scott, new listener here as a result of your most recent appearance on Modern Wisdom, and I'm a big fan of what I've heard so far. Congratulations on your success and keep up the good work. I recently left my consulting career at the beginning of this year to join my dad and uncle as a financial advisor on their team, but after about a year in the role, I'm second guessing my decisions and career choices in general. I realize I'm coming into a great situation, joining my family's advisory team. However, I can't stop thinking about the long-term viability of being a financial advisor, given the development of AI and how I think it will soon be able to perform the role of an advisor just as well as a human can, if it's not able to already. Additionally, I don't find the work
18:45 Speaker 05 engaging and am not a fan of working with clients. I'm 30 years old and not afraid to make career changes and start over, but do you have any advice for someone that feels like they're not accomplishing their potential in terms of work and has concerns for the longevity of the career they're currently in? Thanks.
19:07 Scott Galloway? Thanks for the question. It sounds like you're not happy. And when you're young, your benchmark is college and the kind of fantasy that work is amazing and fun that is, or the myth that is told to you by people, your university and people. And so work is work. And what I would say is, you need to give work at least one or two years to see if it gets better. But if you really just start dreading work, and you're there because you want to impress, or you felt some pressure from your family, just have an open and honest conversation with your dad and your uncle and people you trust, saying, I don't know if I'm like this, which makes me believe I'm not going to be very good at it, and I'm wondering if I should consider something else. And also, is there a different role
19:49 Scott Galloway? within the company? In terms of, I think you're trying to backfill, it sounds to me, if I listen to your voice, you sound a bit down. And you're trying to backfill, and I might be wrong here, but my sense is you're trying to backfill reasons for why you should leave. And AI is not one of them because financial advisors, to a certain extent, our tax code keeps getting more and more complicated. I'm spending more and more money on financial advice. Now, do I use my financial advisors at Goldman to come up with my stock picks and balance my portfolio? No, but I use them for tax planning, which has gotten incredibly, incredibly complicated. I use my folks at Northern Trust to find me mortgages,
20:32 Scott Galloway? liquidity. I mean, the financial advisory services or wealth management at Goldman and JP Morgan are growing. And I think that my guess is the industry is growing because it keeps getting more complicated. Now, AI will be able to say, okay, here's how you balance a portfolio. But
20:50 Scott Galloway? financial services is oftentimes basically almost like senior care in terms of finances. And those people don't want to, they want you to understand AI, and they want you to give them a sense of security, and they want you to figure out the estate. Yeah, most of this stuff you can probably answer with AI, but they want someone to tell them, and they want someone to make recommendations. And so I don't, you know, the number of accountants, accounting is being destroyed by AI, but accountants are actually growing in number because they're moving upstream into wealth planning and tax strategies and inheritance, inheritance. And a lot of people, I speak, or you speak every year, the UBS, Young Leaders thing, which is basically rich kids. You know, everyone, it's all these famous names. It's like, oh, your father started Bloomberg, and now you're a billionaire.
21:34 Scott Galloway? And they bring them in for two days to talk about philanthropy and being a responsible citizen, and how you manage money. There's gonna be a lot of succession planning. And quite frankly, people don't know how to do, I have no, I am still confused around the relationship between my money and my kids and their happiness. Do I give them money? If so, how much and when? And how do I do it tax efficiently? And who do I need as a trustee? And what are the tax implications? And, you know, these are, these are big issues that AI can kind of give you some ideas on, but people are still gonna want to meet with someone. So anyways, bottom line is, I don't buy AI is gonna destroy the industry, so you should get out. You gotta ask yourself, is this something I could be great at? Because once you're great at something, then you start to like it.
22:17 Scott Galloway? And what might be happening at your family's company is it is the lone man on the toting pole. You're charged a new business, which means basically calling people and asking for meetings and asking for their money, which sucks. And it's hard, especially it sounds like you might not be an extrovert, but an introvert. So here's what you need to do. Ask yourself, is this just not the industry for me? Or is it that work is hard, especially in financial services where the first 10 years, it's the worst job in the world. And then it slowly but surely becomes the best job in the world as you build a book of business. How much are the relationships impacting your view of work? Do you have a strained relationship with your father and your uncle where you're just better being seeing them on weekends and not working with them? The dynamics of working in a family business are really thick, right? Ask them for their help. What do they think?
23:02 Scott Galloway? You know, or maybe not have that kind of relationship, but get some outside advice. And think to yourself, is there a different role within the company? Do I need them to change their behavior such that I'm happier? Is there, you know, or it's just, is it just not for you? And if it's just not for you, be very transparent with them and, and help them brainstorm with you about another career. But don't be too hard on yourself. You know, this happens a lot. So what are we going to do? We're going to have an honest conversation with the man in the mirror around, is this just hard work and I need to give it longer? Am I cut out for this? Are other things impacting my day to day job or strained relationship with my uncle and my father? And can I, can I, can I fix that?
23:46 Scott Galloway? Open and honest conversations with some mentors, including maybe your father and your uncle. And then forgive yourself in a recognition that if it doesn't work out, it's not the end of the world and ask for their help finding, finding another gig. Thanks for the question. That's all for this episode. If you'd like to submit a question, please email a voice recording to [email protected] . That's [email protected] . Or if you prefer to ask on Reddit, just post your question on the Scott Galloway subreddit and we just might feature it in an upcoming episode. What a thrill. This episode was produced by Jennifer Sanchez and Laura Janer. Kami Rika is our social producer. Brad Williams is our editor and Drew Burrows is our technical director. Thank you for listening to the Prop G Pod from Prop G Media.
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