Galloway: California taxpayers gifted me a life worth living
The brutal alchemy of delusion and capital
Los Angeles operates as a failed nation-state that somehow dominates the global imagination. It is a city where social stratification collapses at the counter of a $24 smoothie shop. You have the Saudi Arabia prince standing next to the TikTok star, both participating in a high-stakes economy built on pure illusion. While the entertainment industry’s physical production has eroded over two decades, the intellectual and financial core remains. This tension between visible homelessness and extreme billionaire density creates a unique pressure cooker for innovation. When ambition meets collective delusion, the result isn't just art—it is massive shareholder value for firms like SpaceX and Snap Inc.
The public engine of social mobility
We must view the University of California Los Angeles not just as a campus, but as a critical piece of economic infrastructure. My own trajectory was secured by this institution after an initial rejection. The sheer scale of the University of California system represents a visionary investment by taxpayers in human capital. Without this public intervention, the bridge from a middle-class upbringing to the heights of global finance and media simply wouldn't exist. It serves as a reminder that robust public institutions are the true bedrock of private-sector success.
Risk, insecurity, and the New York pivot
Career decisions are rarely driven by cold logic; they are often the product of profound insecurity. I fled to New York to become a mediocre investment banker because the entertainment industry felt like a chaotic lottery. In Hollywood, the lack of correlation between hard work and success is terrifying to a young person seeking stability. Moving to Wall Street offered a structured path, yet it was a detour from the creative risks that California demands. Today, I return to these hills with the perspective that the best place to make a living is a city where you don't actually need the money to survive the volatility.

Embracing the creative wreckage
My recent attempt at a scripted series with Netflix serves as a case study in the unpredictability of the creative economy. Despite a stellar showrunner and lead actress, the project imploded. This is the tax one pays for engaging with the Los Angeles ecosystem. You must be willing to let projects die slow deaths to find the one that sticks. Success here requires a mindset shift: view every failure as a donation to your own education, funded by the same spirit of risk that defines the Pacific time zone.
- Los Angeles
- 12%· places
- California
- 6%· places
- Hollywood
- 6%· places
- Netflix
- 6%· companies
- New York
- 6%· places
- Other topics
- 65%

Why I owe everything to California
WatchThe Prof G Pod – Scott Galloway // 2:35
NYU Professor, best-selling author, business leader and serial entrepreneur Scott Galloway cuts through the biggest stories in tech, business, and investing with unfiltered insights, bold predictions and thoughtful advice. Podcasts include Prof G Markets with co-host Ed Elson, Prof G Conversations and Office Hours with Prof G.