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Pivot

Kimmel & ABC, Nvidia's OpenAI Investment, and Tylenol's Trump Problem

Published September 26, 2025
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About This Episode

Kara Swisher and Scott Galloway discuss Jimmy Kimmel's emotional late-night return after his Trump clash, what it reveals about masculinity, and why late-night TV is structurally in decline despite strong individual performances. They analyze Nvidia's $100 billion investment in OpenAI as a potentially late-stage bubble, related-party style deal that concentrates AI power and raises antitrust concerns, then examine Trump's unsupported claim that Tylenol causes autism, what Kenview should do in response, and the classic Johnson & Johnson Tylenol tampering case as a crisis-management model. The hosts also cover YouTube's decision to reinstate previously banned misinformation accounts under political pressure, a Florida investigation into Office Depot over a refused Charlie Kirk poster, their expectations of cronyism and giant, likely disastrous M&A deals, and end with a strong plea for adopting rescue dogs amid rising pet surrenders.

Topics Covered

Comedy Television history Artificial intelligence Semiconductors Antitrust Misinformation and disinformation Free speech and censorship Social media and online platforms First Amendment law Stock market valuation

Disclaimer: We provide independent summaries of podcasts and are not affiliated with or endorsed in any way by any podcast or creator. All podcast names and content are the property of their respective owners. The views and opinions expressed within the podcasts belong solely to the original hosts and guests and do not reflect the views or positions of Summapod.

Quick Takeaways

  • Jimmy Kimmel's return monologue, including a sincere expression of remorse, prompts a discussion about healthy masculinity and emotional vulnerability while underscoring that late-night TV is in structural decline regardless of talent.
  • Nvidia's $100 billion investment in OpenAI is framed as a classic late-stage bubble move and a related-party style transaction that juices Nvidia's top line while deepening a Wintel-like AI duopoly that regulators are largely ignoring.
  • Trump's comment linking Tylenol to autism is described as scientifically unsupported and economically harmful to Kenview, prompting debate over whether the company should go on legal and PR offense, using Johnson & Johnson's historic Tylenol tampering response as a benchmark.
  • YouTube's reinstatement of accounts banned for COVID and election misinformation is portrayed as a politically motivated moderation swing that illustrates how platforms lack a consistent free-speech and content policy framework.
  • The Office Depot case over employees refusing to print a Charlie Kirk poster spotlights tensions between workers' personal beliefs, employers' operational needs, and politicians' misuse of discrimination rhetoric.
  • Scott predicts massive, potentially disastrous mega-acquisitions as overvalued tech giants spend their 'preloaded credit card' of inflated market caps, alongside growing financial engineering and related-party deals.
  • Both hosts argue that the Trump camp is using distractions like the Kimmel fight and Tylenol claims to keep the Epstein story and other damaging topics out of the news cycle.
  • They highlight rising pet surrenders as a sign of economic strain and strongly advocate adopting rescue dogs for security, children's development, and mental health benefits.

Podcast Notes

Show opening, podcast ranking, and personal banter

Pivot's overall podcast ranking and competitive talk

Kara notes Pivot is ranked 23rd among all podcasts, not just in the news category[2:34]
• She emphasizes that they are already "quite high" in news and jokingly warns shows like "Call Her Daddy" and Mel Robbins that Pivot is coming for them
Scott jokes about wanting to be 23 years old again and plays along with the competitive framing[2:20]
• They riff that talking more about sex and vaginas might be the missing ingredient to reach the very top of the charts

Kara's near-accident with a fan

Kara recounts almost running over a Pivot fan while taking a right on red where turning was not allowed[2:57]
• The pedestrian was initially horrified, then recognized her and yelled "love Pivot," combining anger and fandom in one moment

Scott's subtle power move with his boss Jim Bankoff

Scott shares that he met Vox Media CEO Jim Bankoff for coffee and intentionally chose a table facing the street at a busy restaurant[3:27]
• His aim was to be recognized by passersby as "Prof G" in front of Bankoff as a playful status flex, though Kara notes Bankoff is too nice to care

Scott's upcoming Aspen event and Ari Emanuel mention

Scott mentions he has been in New York and is headed to Aspen for an event that he jokingly calls his "not-so-secret" thing[4:50]
Kara asks him to deliver a blunt insult to Ari Emanuel, which Scott deflects with humor[5:00]
• They briefly mention that Scott is represented by WME and Kara by UTA, leading to a crude but joking confusion between the agency acronym and a urinary condition

UTIs, rough sex anecdote, and bodily humor

Kara shares a story about having a urinary tract infection (UTI) in Las Vegas and being in intense pain before a night out[5:34]
• A well-known female friend had a full UTI treatment kit in her hotel room and, when asked why, replied in an elevator that she and her husband have a lot of rough sex, surprising Kara
Scott makes a pun that getting a UTI means "you're in trouble," which Kara rejects as a bad joke[6:24]

ACT critical thinking joke and cancer punchline

Scott describes helping his son study for the ACT and realizing how much his own brain has atrophied[3:56]
He tells a mock critical-thinking question about gifts Sally receives and answers his own riddle with a dark punchline that she has cancer[3:59]
• Kara reacts by reminding him she had asked for more vagina jokes, not cancer jokes, tying it back to their earlier humor

Transition to serious topics and Jimmy Kimmel segment

Setting up main topics: Trump, Tylenol, and Nvidia

Kara previews serious topics ahead, including Trump's impact on Tylenol's business, questions around Nvidia's big OpenAI investment, and shell-game concerns about that deal[6:59]

Jimmy Kimmel, ABC, Trump, and the future of late-night TV

Kimmel's ratings surge and affiliates' boycott

Kara notes that Jimmy Kimmel's return drew 6.2 million TV viewers and tens of millions of YouTube views, about four times his usual live audience[7:12]
• She points out that Nextar, Sinclair, and some local ABC affiliates boycotted the show, including in Washington, D.C., affecting about 25% of the country

Kimmel's monologue and emotional apology

They play a clip of Kimmel saying he doesn't expect to change anyone's mind and stressing he never intended to make light of the murder of a young man[7:52]
Scott praises Kimmel's performance as "incredible" and emphasizes the genuineness of his emotion[7:58]
• Scott says he typically doesn't watch late-night TV anymore but was struck by the importance of a successful male figure showing vulnerability and real feeling
Kara likens Kimmel's emotional openness to Scott's own style and underscores the value of men feeling and expressing emotion[8:33]
• They contrast Kimmel's vulnerability with what Scott calls "performative masculinity" that conflates manhood with coarseness and cruelty, which he believes harms young men

Structural decline of late-night TV and business model issues

Scott argues that regardless of Kimmel's individual success, "the Jimmy Kimmel show as it is now is already over" because market dynamics trump performance[9:02]
• He predicts late-night will need to reinvent itself in podcast or streaming formats with lower production costs because the current infrastructure cannot support the declining business
Kara agrees that the finances of broadcast networks and late-night have been problematic for a long time, though she notes there is still room for innovation given audiences' interest[12:09]

Bob Iger, cowardice vs strongmen, and Trump comparisons

Scott labels Disney CEO Bob Iger the "biggest loser" from the Kimmel episode, saying history is hardest on the cowards who enable strongmen rather than the strongmen themselves[9:34]
He draws a parallel between Kimmel saying people either like him or not and Trump's similar dynamic with his base, where supporters accept almost any behavior[10:11]
• Scott cites examples like a Trump official allegedly accepting $50,000 cash in a brown bag and Trump's association with a convicted pedophile, saying supporters rationalize anything and there is "no red line"

Trump's Truth Social response and distraction strategy

Kara notes Trump claimed Kimmel's audience is gone and boasted about previously extracting $16 million from ABC, now threatening further action after Kimmel's comments[10:45]
Scott speculates that Trump's team is using AI-driven communications to push stories like the Kimmel fight or Tylenol comments specifically to keep the Epstein topic out of the news[11:29]
• He imagines a playbook where they rapidly test lines that dominate the news cycle, regardless of how trivial or stupid, as long as they distract from Epstein-related coverage

South Park's take on Brendan Carr and free speech implications

South Park episode lampooning Brendan Carr

Kara introduces a South Park episode where FCC commissioner Brendan Carr is mocked extensively and shown in the hospital, including a gag where he has defecated in his pants[13:06]
• She notes it is cruel enough that even she momentarily questions whether it is too mean, but then defends it under the banner of free speech
Kara calls the South Park creators "geniuses" and half-jokingly says they should get the Nobel Peace Prize for their work skewering powerful figures[13:43]

Broader point about speech and hypocrisy

Kara argues that attempts to stop this kind of speech are futile unless one is willing to be an "incredible hypocrite"; you either accept it across the board or you do not[13:56]
She underscores that many less-visible voices beyond Kimmel, including journalists such as Karen Attiah and others at the Pentagon, have also been pressured or quieted, making this a serious free-speech issue[14:20]
• She frames the efforts to silence critics and comedians as part of a classic autocrat's playbook

Nvidia's $100 billion OpenAI investment and AI market power

Deal structure, round-trip vibes, and late-stage bubble concerns

Kara outlines that Nvidia will invest $100 billion in OpenAI, which will use Nvidia's AI semiconductors in its data centers, requiring about 10 gigawatts of power (similar to 8 million homes' usage)[14:44]
She says the arrangement feels like "round tripping," reminiscent of 1990s AOL-era shell games where companies invested in partners who then spent the money on their products[15:08]
• Kara notes that Nvidia's stock is up about 2% over the last five days at the time of taping, and several people have contacted her expressing unease about the deal

Scott's analogy to 1999 dot-com related-party transactions

Scott calls the deal a clear sign of a late-stage bubble where a massively valued company tries to justify its valuation via financial engineering[15:22]
He explains that Nvidia, worth around $4 trillion in his framing, can issue about 2.5% dilution to raise $100 billion, invest it in OpenAI, and have it all spent on Nvidia chips, juicing Nvidia's top line[14:34]
• He likens this to AOL investing in small e-commerce firms in exchange for shares while those firms were then contractually obligated to buy large amounts of advertising on AOL, boosting AOL's revenues artificially
Scott recalls his own experience at his firm Profit and later ventures, where related-party revenues were discounted in acquisitions because they did not demonstrate independent demand[16:40]

Shell-game comparisons and past AOL dealmakers

Kara says the Nvidia-OpenAI arrangement gives her "PurchasePro" vibes from the dot-com era and evokes memories of specific AOL dealmakers like Meyer Berlow and David Colburn[17:19]
• They reminisce about AOL's marketplace being the only place early e-commerce could gain traction because consumers trusted AOL but distrusted putting credit cards on the open internet
Scott describes how e-commerce companies had to go to AOL's Virginia headquarters and accept very tough terms to access that walled garden of customers before Amazon normalized web shopping[17:55]

Convergence of LLMs and Nvidia-OpenAI as Wintel 10x

Scott says technical assessments show large language models (LLMs) are converging in performance and effectively becoming the same because AI can quickly reverse engineer other AIs[1:21]
• He claims none of the major LLMs has achieved a sustainable technical advantage; test result lines that once diverged are now converging toward one line
Scott attributes to Sam Altman a vision where essentially every transaction in the economy could run through an AI agentic layer, from lights sensing presence to calendars ordering Ubers[18:48]
He warns that combining Nvidia's dominant compute share (over 90% in his description) with OpenAI's large LLM market share (he cites 77%) creates a huge, unfair advantage[19:38]
• In his view, Nvidia can design chips tailored to OpenAI's needs, and OpenAI can get early insight into upcoming hardware, making it difficult for rival LLMs to compete, akin to a "Wintel times 10" scenario

Regulatory inaction and political flattery

Scott suggests that if antitrust officials like Tim Wu, Lina Khan, or Jonathan Kanter were in charge, they would already have sent a letter expressing concern about the deal[20:17]
He criticizes the current administration for being overly accommodating to tech leaders as long as they visit the White House, offer praise, and, in his words, provide some undefined "vig" or benefits[20:23]

Trump's Tylenol-autism claim, Kenview, and crisis management lessons

Trump's statements and market reaction for Kenview

Kara reports that Tylenol maker Kenview's stock is down 7% in five days after President Trump claimed Tylenol may be linked to autism[25:51]
• She notes Tylenol alone generates about $1 billion in annual sales for Kenview, and the company updated its FAQs to state there is no scientific evidence for such a link, citing public health organizations
Kara adds that the FDA has started a process for label changes related to ingredients associated with higher autism risk, but underscores that genetics, especially paternal age, is a major factor per existing science[26:22]

Scientific evidence and ethical implications

Scott labels Trump's claim a "textbook definition of defamation" given the lack of robust scientific backing and the measurable economic harm to Kenview[26:51]
He acknowledges some observational studies suggest prolonged acetaminophen use during pregnancy might correlate with higher rates of neurodevelopmental disorders, but emphasizes these are not controlled, definitive science[26:57]
• Kara adds that some studies Trump allies cite are incomplete or poorly designed and that much of the real science points to complex genetic factors, including twin studies
Scott shares that Jess Tarlov on his other podcast became emotional because for pregnant women Tylenol is often the only safe pain-relief alternative, a point Kara reinforces from her own pregnancies[27:25]

What Kenview should do: legal and PR strategy

Asked what he would do as Kenview's CEO, Scott says he would go on offense, publicly asserting the lack of evidence and emphasizing the real harm done to pregnant women by undermining trust in Tylenol[27:23]
He suggests they quantify the 10% market cap hit and symbolically demand that amount from Trump, or at least push for a legal process to scrutinize the science before a judge and jury[29:39]
• Scott concedes it may be difficult to sue a sitting president because of broad protections and the need to prove malice, but argues that, for optics, Kenview should show absolute confidence in Tylenol's safety

Johnson & Johnson's historic Tylenol tampering response

Scott describes the classic Tylenol cyanide tampering case where several people died after taking poisoned capsules and, in one tragic pattern, relatives of victims went home with headaches and also took Tylenol and died[30:18]
He explains that many firms would have minimized the issue as "isolated," but Johnson & Johnson instead cleared every bottle of Tylenol from shelves until they could understand the problem and deploy tamper-proof packaging[30:30]
• Scott says this overcorrection cost tens of millions but ultimately restored trust and became the premier crisis-management case study in his brand-strategy teaching
He articulates three key crisis steps: acknowledge the problem, have the top leader visible and accountable, and overcorrect rather than under-correct[31:22]
Kara notes that in the current case there is no tampering or product failure, just fabricated claims, making it trickier for Kenview but still requiring an assertive response[31:40]

Trump's broader misinformation on health and vaccines

Kara recalls how, during the pandemic, Trump spread incorrect information about vaccines and seemed unfamiliar with basic parental responsibilities like taking children for vaccinations[31:56]
• She speculates that he has likely never changed a diaper and criticizes the broader ecosystem of people without practical parenting experience dispensing dangerous medical advice

YouTube's reinstatement of banned accounts and platform moderation

Reinstating COVID and election misinformation accounts

Kara reports that YouTube will reinstate accounts previously banned for COVID-19 and 2020 election misinformation, including RFK Jr.'s Children's Health Defense and Senator Ron Johnson[32:58]
She explains this move comes amid a House Republican investigation into alleged Biden administration pressure on tech companies to remove certain content[33:07]
• Kara characterizes YouTube's decision as a maneuver to appease current political forces and anticipates they will adjust again if administrations change

Free-speech rhetoric vs actual moderation practices

Scott states that the world's most popular platforms all moderate content and that moderation levels have become a political football and litmus test[33:48]
He argues that so-called free-speech absolutists really want speech that helps them and to censor speech that hurts them; they are not true free-speech defenders[34:05]
• He notes that on YouTube and similar platforms, users can still access "pretty dark" content, undermining simplistic claims about censorship
Scott suggests platforms should articulate a clear moderation policy, hold to it, and resist government dictates, framing this as part of free speech: the right not to carry certain speech[34:14]
Kara counters that platforms do not want to moderate because it is costly and brings headaches, and she criticizes Mark Zuckerberg specifically for pretending to be a principled free-speech defender while not caring about the harms[34:51]
• She recalls being tired of arguing with Zuckerberg on this point and concludes he does not care about running a "classy joint" or the damage caused

Office Depot, Charlie Kirk poster, and free speech vs employment obligations

Pam Bondi's investigation and political discrimination claims

Kara explains that Attorney General Pam Bondi is investigating Office Depot after employees refused to print a memorial poster for conservative activist Charlie Kirk[38:50]
She notes the company fired the workers, while legal experts say government prosecution would violate the First Amendment[38:58]
• Kara compares this to the Colorado baker case in which the Supreme Court allowed a refusal to provide same-sex wedding services, highlighting political hypocrisy between the two positions

Employee rights vs employer needs and hypocrisy in "freedom" rhetoric

Kara says if a baker does not want to bake a cake for a same-sex wedding, "we don't want your shitty cake," and applies the same logic to Office Depot employees not wanting to make Charlie Kirk posters[39:36]
Scott argues that while employees have a right not to do tasks, the consequence may be losing their paycheck because employment involves doing things you do not always want to do[40:08]
• He warns that if workers in a big company start opting out of tasks by citing political objections, basic operations like supplying materials to government projects could be disrupted
Kara emphasizes that employees should be allowed to refuse specific work but must then accept the consequences, and that politicians like Bondi have no grounds to prosecute for political discrimination[42:08]
Scott says as CEO he would likely fire the workers, stating he respects their values but cannot run a company if people pick and choose tasks based on political sensibilities[39:54]
• He differentiates between speech that is hate speech (e.g., "gay people should be hung") and something like a Charlie Kirk poster, which he does not see as crossing a line, but still says the job is to serve legal customers
Kara argues that Pam Bondi has "no right" to threaten prosecution because the First Amendment protects Office Depot's decisions about whom to employ and what services to provide, within legal bounds[42:21]

Predictions: mega M&A, economic signals, shelter dogs, and Trump-era cronyism

Scott's prediction of unprecedented and disastrous mega-acquisitions

Scott predicts a Time Warner-like acquisition that will be unprecedented in scale and a disaster, driven by tech giants' inflated valuations and pressure to spend their "preloaded" market-cap currency[46:34]
He notes that about 55% of S&P 500 gains since 2021 have come from 10 companies, comparing their excess valuation to having trillions loaded on a credit card that will disappear if not spent[46:58]
• He expects a wave of the biggest M&A deals in history, along with strange related-party transactions like Nvidia-OpenAI, as these firms become increasingly promiscuous dealmakers

Economic stress and the case for adopting rescue dogs

Scott says traditional indices like the Nasdaq and Dow are misleading about real economic health, as the top 10% now account for about 50% of consumer spending[48:12]
He cites booming pawn shops and rising rates of people surrendering pets to shelters as signals of a struggling middle and lower-income economy[47:59]
Scott makes an extended appeal for listeners to adopt dogs, especially rescues, emphasizing the benefits for mental health, children's development, and home security[48:39]
• He claims dogs are arguably the most accretive factor for his mental health next to exercise, and calls mutts and rescues the "best breed" due to better health and seeming gratitude
He notes shelters are overwhelmed with "fantastic dogs" right now and suggests simply typing "how to adopt a dog" into Google or searching local shelters on Instagram to see available animals[49:27]
Kara agrees, saying all her dogs have been rescues and that adopting a dog pays off over a lifetime, though she jokes about her current cat peeing on the rug making pet ownership feel daunting[50:09]

Kara's prediction on Trump-era cronyism and equity-for-aid hypocrisy

Kara predicts the Trump administration will engage in many "ridiculous deals," including taking "vigs" from companies like Nvidia, AMD, or Intel while simultaneously offering aid to their sectors[51:37]
She references Mark Cuban's argument that if taxpayers fund corporate rescues (such as for Intel or MP), the government sometimes demands equity, and questions why the same logic is not applied to farmers or rural hospitals[51:51]
• Kara calls it hypocrisy that self-described free-market leaders like Argentina's Javier Milei might accept bailouts because of ties to Trump, and frames this pattern as cronyism benefiting friends

Other media, geopolitical clip, and closing remarks

Fiona Hill clip on U.S. government dismantling and European security

They play a clip from Dr. Fiona Hill in which she states the federal government is being dismantled and states are largely on their own, and that people are realizing this is not what they thought they voted for[53:03]
Hill also criticizes European nations for a "huge fundamental error" of outsourcing their security to the United States for decades and now realizing they must change course[53:27]
Scott praises Hill as an intimidatingly impressive person, and Kara calls her amazing and notes she is well known from Trump-era impeachment proceedings around the "perfect call"[53:34]

Ann Applebaum and Polish foreign minister mention

Scott shares that he recently met journalist Anne Applebaum and her husband, Poland's foreign minister, who gave a powerful speech about Russian planes potentially being shot down and not whining to the UN[53:55]
Kara notes she has hosted Applebaum on the podcast many times and reiterates her admiration for her work[53:47]

Brief nod to upcoming guests and show continuity

Kara mentions that the directors of "K-pop Demon Hunters" contacted her and will appear on the show in the future, predicting that episode will be "off the charts"[55:03]

Outro and acknowledgments (non-promotional content only)

The hosts close by thanking listeners and previewing that Pivot will return next week with more analysis of tech and business topics[55:24]

Lessons Learned

Actionable insights and wisdom you can apply to your business, career, and personal life.

1

Visible vulnerability from leaders and public figures can coexist with strength and professionalism, and modeling genuine emotion helps counter harmful notions of masculinity rooted in cruelty or suppression.

Reflection Questions:

  • • Where in your own life or leadership do you currently avoid showing vulnerability out of fear it will be seen as weakness?
  • • How might expressing a sincere apology or sharing genuine emotion change the dynamics in a challenging relationship or team situation you face now?
  • • What specific circumstance this month could you deliberately approach with more emotional honesty instead of defaulting to detachment or toughness?
2

Financial engineering and related-party style deals are strong signals of late-stage bubbles; when revenues are boosted by circular transactions rather than independent demand, long-term risk is rising even if stock prices climb in the short term.

Reflection Questions:

  • • What investments or business strategies in your world might be relying more on clever structuring than on real, sustainable demand?
  • • How could you adjust your evaluation checklist to better detect when value is being manufactured through round-tripping or insider deals instead of fundamentals?
  • • What is one current investment, partnership, or initiative you should re-examine for hidden circular dependencies or bubble-like assumptions this week?
3

In a crisis driven by misinformation rather than product failure, organizations still need to act decisively: state the facts clearly, put leaders out front, and proactively frame the issue instead of hoping it fades on its own.

Reflection Questions:

  • • If someone with influence publicly misrepresented your work or product today, how prepared are you to respond quickly with clear, evidence-based communication?
  • • What steps could you take now to identify your most credible spokespeople and equip them to address the most likely misinformation scenarios you might face?
  • • Which communication channels or stakeholder groups would you prioritize in the first 24 hours of a reputational crisis, and how can you rehearse that response before you need it?
4

Platforms and institutions that constantly swing their policies with political pressure erode trust; having a principled, clearly articulated moderation or governance framework-and sticking to it-is critical for long-term legitimacy.

Reflection Questions:

  • • Where in your organization or community are rules or standards applied inconsistently depending on who is pressuring you or who is involved?
  • • How might defining a simple, public set of principles for what you will and will not tolerate improve trust among the people you serve or lead?
  • • What is one area where you can commit to a clearer, more consistent policy this quarter, even if it occasionally costs you in the short term?
5

Individual conscience and institutional responsibility can conflict: you can choose to refuse work that violates your values, but you must also accept that organizations have the right to set expectations and consequences.

Reflection Questions:

  • • What types of tasks or clients would cross your personal ethical line to the point where you would decline to participate, even at professional cost?
  • • How can you communicate your boundaries to your employer or collaborators in a way that is honest but also respectful of their need to operate consistently?
  • • If you did decide to say no in a contentious situation, what practical steps would you take now to prepare for the possible financial or career consequences?
6

Small, consistent choices that support your mental health-like building relationships with animals, exercising, or creating daily joy rituals-compound into resilience, especially when broader economic or social conditions feel unstable.

Reflection Questions:

  • • Looking at your current routines, what daily or weekly habit genuinely lifts your mood or calms your nervous system, and how often are you actually doing it?
  • • How might adopting a new responsibility that brings joy (such as caring for a pet or plant) change the emotional climate in your home or for your children?
  • • What one manageable, repeatable action could you add to your week over the next month to create a more reliable source of comfort and connection for yourself?

Episode Summary - Notes by Micah

Kimmel & ABC, Nvidia's OpenAI Investment, and Tylenol's Trump Problem
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