>>> WELCOME BACK.
>>> WELCOME BACK. I’M STEPHANIE RUHLE.
I’M STEPHANIE RUHLE. FELICITY HUFFMAN COULD BE FACING
FELICITY HUFFMAN COULD BE FACING JAIL TIME AFTER HE PLEADED IMPLT
JAIL TIME AFTER HE PLEADED IMPLT YESTERDAY ADMITTING TO FEDERAL
YESTERDAY ADMITTING TO FEDERAL PROSECUTORS SHE PAID THOUSANDS
PROSECUTORS SHE PAID THOUSANDS OF DOLLARS TO BOOST HER
OF DOLLARS TO BOOST HER DAUGHTER’S S.A.T. SCORES AND HER
DAUGHTER’S S.A.T. SCORES AND HER CHANCES OF GETTING INTO A TOP
CHANCES OF GETTING INTO A TOP UNIVERSITY.
UNIVERSITY. THIS CASE HIGHLIGHTS THE
THIS CASE HIGHLIGHTS THE PRESSURE PARENTS AND STUDENTS
PRESSURE PARENTS AND STUDENTS FEEL TO GET INTO TOP SCHOOLS.
FEEL TO GET INTO TOP SCHOOLS. I DON’T KNOW IF IT’S PRESSURE.
I DON’T KNOW IF IT’S PRESSURE. THEY STRAIGHT UP CHEATED.
THEY STRAIGHT UP CHEATED. SOMETHING THEY BELIEVE IS A SIGN
SOMETHING THEY BELIEVE IS A SIGN OF SUCCESS.
OF SUCCESS. ENTREPRENEUR AND BUSINESS
ENTREPRENEUR AND BUSINESS PROFESSOR SCOTT GALLOWAY SAYS
PROFESSOR SCOTT GALLOWAY SAYS THIS IS THE KIND OF THINKING
THIS IS THE KIND OF THINKING THAT CAN BE WILDLY DANGEROUS TO
THAT CAN BE WILDLY DANGEROUS TO SOCIETY.
SOCIETY. HE WRITES ABOUT HOW TO BLOCK OUT
HE WRITES ABOUT HOW TO BLOCK OUT THE NOISE AND ACHIEVE TRUE
THE NOISE AND ACHIEVE TRUE SUCCESS IN HIS NEW BACKOOK "THE
SUCCESS IN HIS NEW BACKOOK "THE ALGEBRA OF HAPPINESS".
ALGEBRA OF HAPPINESS". SCOTT JOINS ME NOW.
SCOTT JOINS ME NOW. SCOTT, YOUR BOOK --
SCOTT, YOUR BOOK -- CONGRATULATIONS ON THE BOOK.
CONGRATULATIONS ON THE BOOK. WELCOME.
WELCOME. >> THANK YOU.
>> THANK YOU. >> YOU TALK ABOUT HOW YOU GOT
>> YOU TALK ABOUT HOW YOU GOT INTO UCLA AND A STATE SPONSORED
INTO UCLA AND A STATE SPONSORED EDUCATION WAS THE KEY TO YOUR
EDUCATION WAS THE KEY TO YOUR SUCCESS AND IN MANY WAYS
SUCCESS AND IN MANY WAYS HAPPINESS.
HAPPINESS. WHAT WE’RE SEEING IS THE
WHAT WE’RE SEEING IS THE OPPOSITE IN EVERY POSSIBLE WAY.
OPPOSITE IN EVERY POSSIBLE WAY. HOW DID WE GET HERE?
HOW DID WE GET HERE? >> I THINK AS ACADEMICS WHEN YOU
>> I THINK AS ACADEMICS WHEN YOU HAVE TO DO THE MAN IN THE MIRROR
HAVE TO DO THE MAN IN THE MIRROR TEST.
TEST. I’M AN ACADEMIC.
I’M AN ACADEMIC. I THINK WE’VE LOST THE SCRIPT.
I THINK WE’VE LOST THE SCRIPT. WE USED TO SEE OURSELVES AS
WE USED TO SEE OURSELVES AS PUBLIC SERVANTS IN LOVE WITH THE
PUBLIC SERVANTS IN LOVE WITH THE UNREMARKABLE KIDS THAT HAVE
UNREMARKABLE KIDS THAT HAVE REMARKABLE FUTURES.
REMARKABLE FUTURES. AND WE THINK OF OURSELVES AS
AND WE THINK OF OURSELVES AS LUXURY GOODS.
LUXURY GOODS. STANFORD AS INCREASED THE
STANFORD AS INCREASED THE UNDOUMT TEN OR 12 FOLD BUT
UNDOUMT TEN OR 12 FOLD BUT HASN’T INCREASED THEIR FIRST
HASN’T INCREASED THEIR FIRST YEAR SEATS BY ONE.
YEAR SEATS BY ONE. WE’RE DRUNK ON EXCLUSIVITY.
WE’RE DRUNK ON EXCLUSIVITY. EVERY YEAR THE DEANS OF SCHOOLS
EVERY YEAR THE DEANS OF SCHOOLS GET UP AND BRAG ABOUT THE FACT
GET UP AND BRAG ABOUT THE FACT THAT WE TURNED AWAY 90% OF OUR
THAT WE TURNED AWAY 90% OF OUR APPLICANTS.
APPLICANTS. THAT’S TANTAMOUNT TO A HOMELESS
THAT’S TANTAMOUNT TO A HOMELESS SHELTER BRAGGING IT’S TURNING
SHELTER BRAGGING IT’S TURNING AWAY 90% OF THE PEOPLE THAT
AWAY 90% OF THE PEOPLE THAT SHOWED UP LAST NIGHT.
SHOWED UP LAST NIGHT. OUR JOB IS TO GIVE KIDS
OUR JOB IS TO GIVE KIDS REMARKABLE FUTURES.
REMARKABLE FUTURES. IT’S NEVER BEEN A BETTER TIME TO
IT’S NEVER BEEN A BETTER TIME TO BE REMARKABLE IN THE U.S.
BE REMARKABLE IN THE U.S. IT’S NEVER BEEN A WORSE TIME TO
IT’S NEVER BEEN A WORSE TIME TO BE UNREMARKABLE.
BE UNREMARKABLE. THE REALITY IS 99% OF US AND OUR
THE REALITY IS 99% OF US AND OUR CHILDREN ARE UNREMARKABLE.
CHILDREN ARE UNREMARKABLE. >> BY UNREMARKABLE YOU MEAN THE
>> BY UNREMARKABLE YOU MEAN THE MASSES.
MASSES. I WENT TO PUBLIC SCHOOL IN NEW
I WENT TO PUBLIC SCHOOL IN NEW JERSEY.
JERSEY. ARE YOU SAYING IT’S ALL OF THOSE
ARE YOU SAYING IT’S ALL OF THOSE STUDENTS THAT UNLESS THEY’RE THE
STUDENTS THAT UNLESS THEY’RE THE TOP OR THE ABSOLUTE BOTTOM,
TOP OR THE ABSOLUTE BOTTOM, WE’RE THE ONES WHO ARE SIMPLY
WE’RE THE ONES WHO ARE SIMPLY GOING TO BE FORGOTTEN?
GOING TO BE FORGOTTEN? IF I WERE 18 TODAY, I WOULDN’T
IF I WERE 18 TODAY, I WOULDN’T HAVE THE CHANCE TO PURSUE THE
HAVE THE CHANCE TO PURSUE THE AMERICAN CREAM?
AMERICAN CREAM? >>
>> -- AMERICAN DREAM.
-- AMERICAN DREAM. >> ON A RISK BASIS YOUR KIDS ARE
>> ON A RISK BASIS YOUR KIDS ARE PROBABLY GOING TO BE IN YOUR
PROBABLY GOING TO BE IN YOUR WEIGHT CLASS IN TERMS OF
WEIGHT CLASS IN TERMS OF CHARACTER, GRIT AND INTELLECT.
CHARACTER, GRIT AND INTELLECT. EDUCATION USED TO BE THE UPWARD
EDUCATION USED TO BE THE UPWARD LUBRICANT OF UPWARD MOBILITY.
LUBRICANT OF UPWARD MOBILITY. IT’S NOW THE SAND IN THE GEARS.
IT’S NOW THE SAND IN THE GEARS. WE HAVE A CAST SYSTEM HERE.
WE HAVE A CAST SYSTEM HERE. IT’S CALLED HIGHER EDUCATION.
IT’S CALLED HIGHER EDUCATION. GIVE ME A KID’S ZIP CODE AND
GIVE ME A KID’S ZIP CODE AND WHERE HE WENT TO COLLEGE, AND
WHERE HE WENT TO COLLEGE, AND I’LL TELL YOU HOW MUCH THEY’RE
I’LL TELL YOU HOW MUCH THEY’RE GOING TO MAKE BY THE TIME
GOING TO MAKE BY THE TIME THEY’RE 30.
THEY’RE 30. YOU CAN UNDERSTAND THE PRESSURE
YOU CAN UNDERSTAND THE PRESSURE THAT BUILDS ON KIDS AND ON US TO
THAT BUILDS ON KIDS AND ON US TO GET THEM POOTINTO THE BEST SCHOO
GET THEM POOTINTO THE BEST SCHOO POSSIBLE.
POSSIBLE. IT’S BEEN A CORPORATE RACKET.
IT’S BEEN A CORPORATE RACKET. >> BECAUSE WE VIEW THAT GIVING
>> BECAUSE WE VIEW THAT GIVING OUR KIDS THE CHANCE TO LIVE A
OUR KIDS THE CHANCE TO LIVE A BETTER LIFE THAN WE DID AS THEIR
BETTER LIFE THAN WE DID AS THEIR PATH TO HAPPINESS.
PATH TO HAPPINESS. >> YEP.
>> YEP. >> YOU ARE WRITING A BOOK ABOUT
>> YOU ARE WRITING A BOOK ABOUT HAPPINESS SAYING THAT THAT’S NOT
HAPPINESS SAYING THAT THAT’S NOT HOW YOU ACHIEVE IT.
HOW YOU ACHIEVE IT. >> I WANT TO BE CLEAR.
>> I WANT TO BE CLEAR. I DO BELIEVE THAT -- THERE IS A
I DO BELIEVE THAT -- THERE IS A CORRELATION, THERE’S RESEARCH
CORRELATION, THERE’S RESEARCH BETWEEN MONEY AND HAPPINESS.
BETWEEN MONEY AND HAPPINESS. THERE’S A CORRELATION BETWEEN
THERE’S A CORRELATION BETWEEN EDUCATION AND MONEY.
EDUCATION AND MONEY. DESPITE THE FACT THAT JAY-Z,
DESPITE THE FACT THAT JAY-Z, THERE’S PUBLICIZED EXAMPLES OF
THERE’S PUBLICIZED EXAMPLES OF PEOPLE WHO DROPPED OUT OF
PEOPLE WHO DROPPED OUT OF COLLEGE.
COLLEGE. YOU SHOULD ASSUME YOU NOR YOUR
YOU SHOULD ASSUME YOU NOR YOUR SON ARE JAY-Z.
SON ARE JAY-Z. COLLEGE IS AN INVESTMENT.
COLLEGE IS AN INVESTMENT. WE’VE BEEN RACKING UP THE MIDDLE
WE’VE BEEN RACKING UP THE MIDDLE CLASS WITH STUDENT DEBT.
CLASS WITH STUDENT DEBT. SOMETIMES NOW COLLEGE IS NOT
SOMETIMES NOW COLLEGE IS NOT WORTH THE INVESTMENT.
WORTH THE INVESTMENT. BUT THE MONEY PART, THERE IS A
BUT THE MONEY PART, THERE IS A CORRELATION BETWEEN MONEY AND
CORRELATION BETWEEN MONEY AND HAPPINESS ONCE YOU GET TO THE
HAPPINESS ONCE YOU GET TO THE UPPER MIDDLE CLASS.
UPPER MIDDLE CLASS. THEN IT ENDS.
THEN IT ENDS. ONCE YOU GET DECENT HOUSING, YOU
ONCE YOU GET DECENT HOUSING, YOU CAN ABSORB AN ECONOMIC SHOCK, A
CAN ABSORB AN ECONOMIC SHOCK, A CHANCE TO TAKE CARE OF YOUR
CHANCE TO TAKE CARE OF YOUR KIDS, AT THAT POINT HAPPINESS
KIDS, AT THAT POINT HAPPINESS LEVELS OUT.
LEVELS OUT. MONEY IS YOUR INK.
MONEY IS YOUR INK. IT’S THE INK IN YOUR PEN.
IT’S THE INK IN YOUR PEN. IT CAN WRITE DIFFERENT CHAPTERS
IT CAN WRITE DIFFERENT CHAPTERS AND MAKE CERTAIN CHAPTERS BURN
AND MAKE CERTAIN CHAPTERS BURN BRIGHTER, BUT IT’S NOT THE
BRIGHTER, BUT IT’S NOT THE STORY.
STORY. YOU HAVE TO CRAFT YOUR OWN
YOU HAVE TO CRAFT YOUR OWN STORY.
STORY. MY LESSON TO MY KIDS IS IN YOUR
MY LESSON TO MY KIDS IS IN YOUR 20 AND 30s, BUST A MOVE TO
20 AND 30s, BUST A MOVE TO ECONOMIC SECURITY.
ECONOMIC SECURITY. IT’S REALLY IMPORTANT.
IT’S REALLY IMPORTANT. THERE’S NO GETTING AROUND IT.
THERE’S NO GETTING AROUND IT. AND BY THE WAY, THERE’S A MYTH
AND BY THE WAY, THERE’S A MYTH OF BALANCE.
OF BALANCE. IF YOU EXPECT TO BE ECONOMICALLY
IF YOU EXPECT TO BE ECONOMICALLY SECURE OR YOU WANT TO LIVE IN
SECURE OR YOU WANT TO LIVE IN NEW YORK OR SAN FRANCISCO, I
NEW YORK OR SAN FRANCISCO, I WOULD SAY 20s AND 30s IS ABOUT
WOULD SAY 20s AND 30s IS ABOUT WORKING IT.
WORKING IT. BUT AFTER THAT, TAKE A PAUSE AND
BUT AFTER THAT, TAKE A PAUSE AND SAY WHAT IS MY STORY?
SAY WHAT IS MY STORY? MONEY IS JUST THE INK IN THE PEN
MONEY IS JUST THE INK IN THE PEN OF YOUR STORY.
OF YOUR STORY. >> YOU ALSO TALK ACT BRINGING
>> YOU ALSO TALK ACT BRINGING LOVE BACK.
LOVE BACK. THERE’S A LOSS OF HUMANITY.
THERE’S A LOSS OF HUMANITY. IF COLLEGE ACCEPTANCE NOW IS ALL
IF COLLEGE ACCEPTANCE NOW IS ALL ABOUT NUMBERS AND NOT EVEN
ABOUT NUMBERS AND NOT EVEN PERSONAL INTERVIEWS, IF OUR KIDS
PERSONAL INTERVIEWS, IF OUR KIDS AREN’T GOING TO PARTIES BECAUSE
AREN’T GOING TO PARTIES BECAUSE THEY’RE FLAYING FORTNIGHT WITH
THEY’RE FLAYING FORTNIGHT WITH ONE ANOTHER WHILE THEY’RE
ONE ANOTHER WHILE THEY’RE SITTING AT HOME OR LIVING THEIR
SITTING AT HOME OR LIVING THEIR LIVES ON SOCIAL MEDIA, HOW DO
LIVES ON SOCIAL MEDIA, HOW DO YOU CONNECT?
YOU CONNECT? HOW DO YOU FIND LOVE WITHOUT
HOW DO YOU FIND LOVE WITHOUT HUMAN CONNECTION?
HUMAN CONNECTION? >> WELL, THE STUDY, THE SCIENCE
>> WELL, THE STUDY, THE SCIENCE HERE IS CLEAR.
HERE IS CLEAR. THE LARGEST STUDY OF ITS KIND ON
THE LARGEST STUDY OF ITS KIND ON HAPPINESS THAT TRACKED 400 MEN
HAPPINESS THAT TRACKED 400 MEN FROM 19 UNTIL THEY DIED EIGHTY
FROM 19 UNTIL THEY DIED EIGHTY YEARS LATER.
YEARS LATER. THE LARGEST DATA COLLECTED ON
THE LARGEST DATA COLLECTED ON HAPPINESS.
HAPPINESS. THE ONE BEST PRACTICE, IF
THE ONE BEST PRACTICE, IF THERE’S ONE KIND OF SILVER
THERE’S ONE KIND OF SILVER BULLET AROUND HAPPINESS, IT’S
BULLET AROUND HAPPINESS, IT’S THE DEPTH AND NUMBER OF
THE DEPTH AND NUMBER OF MEANINGFUL RELATIONSHIPS.
MEANINGFUL RELATIONSHIPS. AT WORK DO YOU FEEL RESPECTED
AT WORK DO YOU FEEL RESPECTED ADMIRED AND DO YOU ADMIRE AND
ADMIRED AND DO YOU ADMIRE AND RESPECT OTHER PEOPLE?
RESPECT OTHER PEOPLE? AMONG YOUR FRIENDS DO YOU GET A
AMONG YOUR FRIENDS DO YOU GET A SENSE OF JOY AND CAMARADERIE AND
SENSE OF JOY AND CAMARADERIE AND DO THEY FEEL THAT FROM YOU?
DO THEY FEEL THAT FROM YOU? >> YOU ONLY FEEL IT IF YOU GIVE
>> YOU ONLY FEEL IT IF YOU GIVE IT TO OTHERS.
IT TO OTHERS. >> AND AMONG YOUR FAMILY DO YOU
>> AND AMONG YOUR FAMILY DO YOU FEEL AN INTENSE LEVEL OF SUPPORT
FEEL AN INTENSE LEVEL OF SUPPORT AND LOVE AND JUST AS
AND LOVE AND JUST AS IMPORTANTLY, DO YOU KNOW THEY
IMPORTANTLY, DO YOU KNOW THEY FEEL AN INTENSE LEVEL OF SUPPORT
FEEL AN INTENSE LEVEL OF SUPPORT AND JOY FROM YOU?
AND JOY FROM YOU? AND IT’S GOT THE GREATEST
AND IT’S GOT THE GREATEST OPENING LINE.
OPENING LINE. THE LARGEST ACADEMIC STUDY OF
THE LARGEST ACADEMIC STUDY OF ITS KIND ON HAPPINESS HAS THE
ITS KIND ON HAPPINESS HAS THE BEST OPENING LINE OF A REPORT
BEST OPENING LINE OF A REPORT AND SAYS HAPPINESS IS LOVE FULL
AND SAYS HAPPINESS IS LOVE FULL STOP.
STOP. BUT IT REQUIRES INVESTMENTS.
BUT IT REQUIRES INVESTMENTS. JUST AS WE TALK ABOUT ON THESE
JUST AS WE TALK ABOUT ON THESE SHOWS, THE BENEFIT OF MAKING
SHOWS, THE BENEFIT OF MAKING LITTLE INVEST WANTS WHEN YOU’RE
LITTLE INVEST WANTS WHEN YOU’RE LITTLE, THERE’S A COMPOUND
LITTLE, THERE’S A COMPOUND INVESTMENT TO LOVE.
INVESTMENT TO LOVE. FUNNY TEXT MESSAGES, A
FUNNY TEXT MESSAGES, A HANDSHAKE, A PAT ON THE BACK.
HANDSHAKE, A PAT ON THE BACK. THEY’LL SMALL INVESTMENTS.
THEY’LL SMALL INVESTMENTS. YOU WAKE UP WHEN YOU’RE OLDER
YOU WAKE UP WHEN YOU’RE OLDER AND THEY’RE PROFOUND IN TERMS OF
AND THEY’RE PROFOUND IN TERMS OF THE RELATIONSHIPS.
THE RELATIONSHIPS. WHAT’S THE SINGULAR RELATIONSHIP
WHAT’S THE SINGULAR RELATIONSHIP IN EVERYONE’S LIFE?
IN EVERYONE’S LIFE? THEIR MOTHER.
THEIR MOTHER. WHY?
WHY? BECAUSE SHE MADE THE SMALL
BECAUSE SHE MADE THE SMALL LITTLE INVESTMENTS MILLIONS OF
LITTLE INVESTMENTS MILLIONS OF TIMES OVER THE COURSE OF YOUR
TIMES OVER THE COURSE OF YOUR LIFE.
LIFE. >> I LOVE THIS SEGMENT.
>> I LOVE THIS SEGMENT. I LOVE TALKING TO YOU.
I LOVE TALKING TO YOU. LOVE IS ALWAYS THE ANSWER.
LOVE IS ALWAYS THE ANSWER. THANK YOU SO MUCH.
THANK YOU SO MUCH. YOU MUST READ THIS NEW BOOK BY
YOU MUST READ THIS NEW BOOK BY MY DEAR FRIEND SCOTT GALLOWAY.
