In a recent episode of the “Lost Boys” podcast, Professor Scott Galloway and the founder and managing partner of SkyBridge, Anthony Scaramucci, tackled what they say is one of the most urgent issues facing young men in America today: declining economic mobility and rising anxiety around money, work and status.
Economic Decline And Comparison Culture Fuel Frustration
Galloway explained that for the first time in U.S. history, the average 30-year-old is doing worse than their parents were at the same age. “That has never happened before,” he said. “It creates rage and shame across the household, the neighborhood, the nation.”
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A big part of the problem, he added, is how society has shifted wealth from younger generations to older ones. “There is more rage and shame in America because we continue to transfer wealth from the young to the old,” Galloway said. This growing generational gap, he argued, is central to understanding why so many young people feel hopeless.
He argued this breakdown in generational progress has political consequences, explaining that this election was essentially a referendum on “I don’t care about trans rights. I don’t care about territorial sovereignty in Ukraine. If my kid’s not doing well, I want chaos, I want change.”
According to Galloway, constant exposure to wealth and status online intensifies these feelings. “Two hundred ten times a day, you’re notified on your phone that there are people… on Gulfstreams and partying in St. Barts,” he said.
Even the successful feel left behind. Scaramucci shared a story about a 41-year-old millionaire venture capitalist who felt like a failure because JD Vance, also 41, had become vice president. “We’ve lost our anchor,” Scaramucci said.
Forgive Yourself And Take Action
Both hosts encouraged young men to stop blaming themselves for everything. Galloway pointed out the darker side of meritocracy: If you believe everything is based on merit, then if you’re not successful, it’s your fault. He added, “A lot of kids’ failure is not their fault.”
When asked why young men in particular are struggling, Galloway pointed to biology and systemic disadvantages. Boys are maturing later and struggling more in school. “An 18-year-old girl has a prefrontal cortex 12 to 18 months more developed than an 18-year-old boy,” he noted.
He also blamed an education system that favors behavior more typical of girls. “Sit still, be organized, raise your hand, be a pleaser. You’re essentially describing a girl,” he said.
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On top of that, Galloway said dating apps and online life have made things worse. Many average young men are excluded from the dating pool, never ask someone out in person, and retreat into screens. “Fifty percent of 18- to 24-year-old men have never asked a woman out in person,” he said.
Both hosts stressed that success often comes after repeated failure. Galloway shared his own track record: four failed high school elections, rejected from UCLA–then admitted on appeal–denied by seven out of nine business schools, and multiple business failures. “My superpower is the ability to move through failure without losing my sense of enthusiasm,” he said.
Scaramucci added, “I failed upwards. I stumbled a lot in my career.” Ultimately, he says he stayed in the game, and that's how he made it.
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